Separate Account Liabilities definition
Separate Account Liabilities means the liabilities or obligations arising under the express terms and conditions of the Policies and Post-Closing Policies, to the extent payable out of the Separate Accounts in accordance with the terms of the Policies and the Post-Closing Policies.
Separate Account Liabilities has the meaning set forth in Section 2.10.
Separate Account Liabilities has the meaning set forth in the Indemnity Reinsurance Agreement.
Examples of Separate Account Liabilities in a sentence
For purposes hereof, the portion of the Separate Account Liabilities attributable to the IPG Policies shall be determined in a manner consistent with the applicable IPG Policies and Applicable Law.
More Definitions of Separate Account Liabilities
Separate Account Liabilities means those liabilities that are payable from the assets of the Separate Accounts in respect of the LBL Contracts.
Separate Account Liabilities means those insurance liabilities that are reflected in the Separate Accounts and that relate to the Reinsured Contracts, including (i) amounts transferred from the Separate Accounts to the general account of the Company pending distribution to holders of the Reinsured Contracts, and (ii) amounts held in the general account of the Company pending transfer to the Separate Accounts.
Separate Account Liabilities means the Quota Share of all Liabilities arising out of or relating to the Covered Insurance Policies, whether incurred before, at or after the Effective Time, to the extent payable out of the Separate Accounts, but in all events excluding Excluded Liabilities.
Separate Account Liabilities means those liabilities that are payable from the assets of the Separate Account in respect of the Reinsured Polices but excluding any Excluded Liabilities.
Separate Account Liabilities means liabilities and obligations in respect of the Contracts that are allocated to the Separate Accounts.
Separate Account Liabilities means all amounts payable with respect to surrenders, annuitization payments, death benefits, compensation or any other amounts with respect to the Business Reinsured that by the terms of such Business Reinsured contemplate payment from the Separate Accounts.
Separate Account Liabilities has the meaning set forth in Section 2.8(a). “Separate Account Reserves” means, as of any date of determination, the aggregate amount of statutory reserves of the Ceding Company with respect to the Separate Account Liabilities (as would be described in Line 1, column 3 of the Liabilities section and Exhibit 3 of the Statutory Financial Statements related to separate accounts of the Ceding Company (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2020)), calculated in accordance with the Applicable SAP. “Separate Accounts” means the registered and unregistered separate accounts of the Ceding Company applicable to the Reinsured Contracts identified in Schedule B. For the avoidance of doubt, with respect to PALAC Separate Account B, which includes assets related to the Reinsured Contracts and the Business (as defined in the Stock Purchase Agreement), for purposes of this Agreement and the Administrative Services Agreement, “Separate Account” shall only refer to the sub-accounts therein related exclusively to the Reinsured Contracts. “Settlement Statement” has the meaning set forth in Section 3.3(a). “Statutory Book Value” means, for the purposes of valuing Eligible Assets in the Trust Account, the admitted value of such assets on the Reinsurer’s statutory balance sheet, including accrued interest income, as of any date of determination, determined by the Reinsurer in accordance with Applicable SAP. “Statutory Financial Statements” means, with respect to any Person, the annual and quarterly statutory financial statements of such Person filed with the Governmental Authority charged with supervision of such Person.