Statutory Carrying Value definition

Statutory Carrying Value means, with respect to any asset, as of the relevant date of determination, the carrying value amount permitted to be carried by the Ceding Company as an admitted asset consistent with Nebraska SAP in its statutory financial statements.

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Statutory Carrying Value means, with respect to any assets maintained by the Ceding Company in the Modco Sub-Accounts, as of the relevant date of determination, the amount permitted to be carried by the Ceding Company as an admitted asset consistent with SAP.

Statutory Carrying Value means, as to an asset of any Insurance Subsidiary, the value of such asset to be reflected in line 24, page 2, column 1 of the Annual Statement, or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.

Examples of Statutory Carrying Value in a sentence

• Such notice shall describe any such assets, the reason for the impairment and the effect on Statutory Carrying Value of such assets.

• The Ceding Company shall promptly notify the Reinsurer in writing if the Ceding Company determines that any assets maintained in the Funds Withheld Account have become impaired for purposes of determining Statutory Carrying Value.

• The assets maintained in the Funds Withheld Account shall be invested by the Investment Manager and consist only of Permitted Assets, and the Permitted Assets shall be valued, for the purposes of this Agreement, according to their Statutory Carrying Value.

• In the event that the Ceding Company exercises its recapture rights with respect to any Third Party Reinsurance Agreement, on the effective date of such recapture, the Ceding Company shall deposit into the applicable Modco Sub-Account Permitted Assets with a Statutory Carrying Value, as of the effective date of such recapture, equal to the Quota Share of any recapture payment and other amounts received from the applicable Third Party Reinsurer in connection with such recapture.

• On the fifth (5th) Business Day following the date on which it delivers such invoice to the Reinsurer, the Ceding Company shall authorize the withdrawal of the amount of such costs and expenses from the Modco Account; provided, that if such amount is greater than the Statutory Carrying Value of the assets in the Modco Account, then the Reinsurer shall pay the amount of such difference to the Ceding Company no later than eight (8) Business Days following the delivery of such invoice to the Reinsurer.

More Definitions of Statutory Carrying Value

Statutory Carrying Value means with respect to any asset, as of the relevant date of determination, the amount permitted to be carried by the Ceding Company, including accrued but unpaid interest, on the books of the Ceding Company determined in accordance with Ceding Company SAP.

Statutory Carrying Value means, with respect to any asset held by the Ceding Company in the Funds Withheld Account, as of the relevant date of determination, the amount permitted to be carried by the Ceding Company as an admitted asset consistent with SAP, as such amount is adjusted in accordance with S ection 10.03(h).

Statutory Carrying Value means, as to any Investment Asset or Other Statutory Asset, the carrying value thereof on Seller's books for statutory statement blank purposes, determined in accordance with Connecticut SAP.

Statutory Carrying Value means, with respect to any assets maintained by the Ceding Company in the Modco Sub-Accounts, as of the relevant date of determination, the amount permitted to be carried by the Ceding Company as an admitted asset consistent with SAP. “Statutory Reserves” shall mean the net statutory reserves in respect of the Reinsured Policies (for the avoidance of doubt, determined after giving effect to the reinsurance provided under the Third Party Reinsurance Agreements), which shall be calculated in good faith on a seriatim basis by the Ceding Company in accordance with SAP; provided, however, that “Statutory Reserves” shall not include any (a) Asset Valuation Reserve, (b) Interest Maintenance Reserve or (c) any other reserve not directly attributable to specific Reinsured Policies. For the avoidance of doubt, “Statutory Reserves” shall not include any cash flow testing reserves.

Statutory Carrying Value means, as to any investment of any Insurance Subsidiary, the value of such investment as determined in accordance with SAP consistently applied. Statutory Financial Statements is defined in Section 7.2. Statutory Liabilities shall mean, as to any Person, as of any date, with respect to (a) any Life Subsidiary, the amount reported on page 3, line 28, column 1 of its Annual Statement, and (b) any P/C Subsidiary, the amount reported on page 3, line 21, column 1 of its Annual Statement; or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.

Statutory Carrying Value as to any investment by any Insurance ------------------------ Subsidiary of the Borrower, the value of such investment as determined in accordance with SAP.

Statutory Carrying Value means, as to any Investment Asset or Other Statutory Asset, the carrying value thereof on the books of Seller or CLIC, as the case may be, for statutory statement blank purposes, determined in accordance with Connecticut SAP.