Statutory Net Worth definition

Statutory Net Worth means, with respect to any HMO Subsidiary or any Insurance Subsidiary (other than a Designated HMO Subsidiary or a Designated Insurance Subsidiary), as of the end of any fiscal year, the difference between (a) total admitted assets and (b) total liabilities, in each case as calculated according to the applicable state’s interpretation of SAP in the applicable jurisdiction as most recently reported to the applicable jurisdiction for such fiscal year.

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Statutory Net Worth means, for an HMO Subsidiary, the difference between (i) total admitted assets and (ii) total liabilities, in each case as calculated according to the applicable state’s interpretation of SAP or other similar state-mandated accounting principles.

Statutory Net Worth means the net worth of the company calculated in accordance with generally accepted accounting principles, as modified by Sections 625.012 and 625.031, F.S.

Examples of Statutory Net Worth in a sentence

Compliance with the applicable Statutory Net Worth requirement will be determined at the end of each fiscal quarter (using as the denominator in each case, for the first three fiscal quarters of each year, the prescribed level as of the end of the preceding fiscal year and for the last fiscal quarter of each fiscal year, the prescribed level as of the end of such fiscal year).
In each case above, so long as an HMO Subsidiary maintains at least the applicable minimum Statutory Net Worth threshold of the state in which it operates, (1) unrestricted cash and Cash Equivalents of the Borrower and (2) any unused availability under the Revolving Commitments may be included in the computation of its Statutory Net Worth if necessary to comply with the applicable Statutory Net Worth requirement.
In the event of any dispute between the Parties relating to the determination of the Company’s Statutory Net Worth or the Statutory Amount as of the Effective Date, the Parties shall negotiate in good faith in an attempt to reach an agreement with respect to such dispute.
If the Regulated Subsidiaries’ Closing Date Statutory Net Worth is more than the Statutory Net Worth Requirement, then the Base Purchase Price shall be increased by an amount equal to the Closing Date Statutory Net Worth minus the Statutory Net Worth Requirement.
In making such calculations, the Auditor shall consider only those items or amounts in Buyer’s proposed final Closing Balance Sheets or Buyer’s calculation of Closing Date Statutory Net Worth and Closing Date Net Working Capital, as to which Sellers’ Representative has disagreed.

More Definitions of Statutory Net Worth

Statutory Net Worth means, with respect to each Regulated Subsidiary, at any time, the difference between (a) total admitted assets and (b) total liabilities, in each case as calculated according to SAP in the applicable jurisdiction.

Statutory Net Worth is defined by the New York statutes, rules and regulations with respect to certified health maintenance organizations.

Statutory Net Worth means statutory policyholder's surplus as determined in accordance with statutory accounting principles made applicable to the Operating Subsidiaries under applicable insurance regulatory laws.

Statutory Net Worth means the excess, if any, of the value of the Company’s aggregate cash and cash equivalents as of the Effective Date over the Company’s total liabilities (including the Medical Claims Reserve) as of the Effective Date, as reflected on the statutory financial statements of the Company for the period ended on the day prior to the Effective Date (as adjusted, if necessary, to exclude the early receipt of the CMS payment for the period immediately following the Effective Date).

Statutory Net Worth means, subject to the adjustments expressly described herein, the difference between total assets and total liabilities each as determined in accordance with Statutory Accounting Principles.

Statutory Net Worth means net worth as calculated by the applicable governing body or bodies of either State.

Statutory Net Worth. As to HRMPA, as of any date of determination, the total amount shown as its Total Net Worth in Part B of HRMPA's Statutory Financial Statement for the applicable fiscal period.