Terminal Settlement Statement definition

Terminal Settlement Statement has the meaning set forth in Section 8.4.

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Terminal Settlement Statement has the meaning set forth in the Reinsurance Agreement.

Terminal Settlement Statement has the meaning set forth in Section 8.4(a). “Termination Event” has the meaning set forth in Section 8.3(b).

Examples of Terminal Settlement Statement in a sentence

• If the amount of the Terminal Settlement for the Terminal Accounting Period is negative, the Reinsurer shall pay the absolute value of such amount to the Ceding Company at the time it delivers the Terminal Settlement Statement to the Ceding Company.

• If the amount of the Terminal Settlement for the Terminal Accounting Period is positive, the Ceding Company shall pay such amount to the Reinsurer within five (5) calendar days of its receipt of the Terminal Settlement Statement.

• If the amount of the Net Settlement for the Terminal Accounting Period is negative, the Reinsurer shall pay the absolute value of such amount to the Company at the time it delivers the Terminal Settlement Statement to the Company.

• If the amount of the Net Settlement for the Terminal Accounting Period is positive, the Company shall pay such amount to the Reinsurer within five (5) calendar days of its receipt of the Terminal Settlement Statement.

• In addition, following the payment of the Terminal Settlement, the Trust Account shall be terminated and any remaining amounts or amount held in trust pursuant to Article VIII shall be released to the Reinsurer after the full satisfaction of the Terminal Settlement pursuant to the Terminal Settlement Statement.

• The Reinsurer shall pay any undisputed amount of the Terminal Settlement in cash to the Ceding Company within ten (10) Business Days of its receipt of the Terminal Settlement Statement.

• In connection with a recapture pursuant to Section 8.3, the Reinsurer shall prepare a settlement statement within fifteen (15) calendar days of the Recapture Date or the Termination Date, as applicable (the "Terminal Settlement Statement") setting forth the terminal settlement calculated in accordance with Exhibit D for the Terminal Accounting Period (the "Terminal Settlement").

• In addition, following the Recapture Date or the Termination Date, the Trust Account shall be terminated and any remaining amounts or amount held in trust pursuant to Section 4.3 shall be released to the Reinsurer after the full satisfaction of the Terminal Settlement pursuant to the Terminal Settlement Statement.

• In addition, following the Recapture Date or Termination Date, as applicable, the Trust Account shall be terminated and any remaining amounts in trust pursuant to Section 4.2 shall be released to the Reinsurer after the full satisfaction of the Terminal Settlement pursuant to the Terminal Settlement Statement.

• In connection with such recapture or termination, if the Reinsurer fails to pay the full amount of the absolute value of the Terminal Settlement at the time it delivers the Terminal Settlement Statement to the Ceding Company, the Ceding Company may withdraw assets in the Trust Account to satisfy the remaining obligations of the Reinsurer therefor to the extent of such assets, with the Reinsurer remaining liable to the Ceding Company for any excess over the value of the assets so withdrawn.

More Definitions of Terminal Settlement Statement

Terminal Settlement Statement has the meaning set forth in Section 9.3(a). (fff) “Treasury Regulations” means the regulations prescribed under the Code. (ggg) “Umpire” has the meaning set forth in Section 7.2.

Terminal Settlement Statement has the meaning set forth in Section 9.4(a). “Termination Date” has the meaning set forth in Section 9.3(b). “Termination Event” means any failure by the Ceding Company (or any successor by operation of law of the Ceding Company, including, but not limited to, any receiver, liquidator, rehabilitator, conservator or similar Person of the Ceding Company) to pay any material amount

Terminal Settlement Statement has the meaning set forth in SECTION 8.4.

Terminal Settlement Statement has the meaning set forth in Section 9.4. “Third Party Claim” has the meaning set forth in Section 10.3(a). “Transaction Agreements” means, collectively, this Agreement, the Stock Purchase Agreement, the Trust Agreement, the Administrative Services Agreement, the Third Party Administration Agreement (as defined in the Stock Purchase Agreement), the Transition Services Agreement (as defined in the Stock Purchase Agreement), the Sub-Advisory Agreement (as defined in the Stock Purchase Agreement), the Sub-Advisory Letter Agreement (as defined in the Stock Purchase Agreement), the Hannover Transfer Agreement (as defined in the Stock Purchase Agreement), the Somerset Transfer Agreement (as defined in the Stock Purchase Agreement), , the Trademark License Agreement (as defined in the Stock Purchase Agreement), the Transferred Liabilities Assignment and Assumption Agreement (as defined in the Stock Purchase Agreement), the Excluded Assets and Liabilities Assignment and Assumption Agreement (as defined in the Stock Purchase Agreement), the Distribution Restructuring Agreements (as defined in the Stock Purchase Agreement) and the 109 Plan Third Party Administration Agreement (as defined in the Stock Purchase Agreement).

Terminal Settlement Statement has the meaning set forth in Section 7.4. "Third Party Appraiser" means a nationally recognized independent appraisal firm which is mutually acceptable to the Reinsurer and the Ceding Company or, if the Reinsurer and the Ceding Company are unable to agree on such an appraisal firm, an independent appraisal firm selected by mutual agreement of the Reinsurer's and the Ceding Company's independent accountants. "Third-Party Claim" has the meaning set forth in Section 8.3(a). "Total Adjusted Capital" means, with respect to any insurance company, its total adjusted capital as calculated in accordance with the most current formula for calculating such amount adopted by the insurance regulatory authority in such insurance company's state of domicile. "Transaction Agreements" means the Purchase Agreement and each of the Ancillary Agreements other than this Agreement. "Treasury Regulations" means the Treasury Regulations (including temporary and proposed Treasury Regulations) promulgated by the United States Department of Treasury with respect to the Code or other United States federal Tax statutes. "Triggering Event" means either of the following occurrences: (a) the Reinsurer's RBC Ratio falls below 300% as of a quarter-end and the Reinsurer has not cured such shortfall as of the applicable RBC Reporting Deadline; provided, that in the event there is a material change in the factors and formulae prescribed by the insurance regulatory authority in the Reinsurer's state of domicile with respect to the components of and methodologies contained in such calculation, the Parties shall amend this Agreement to incorporate an alternate calculation that is reasonably equivalent to the components of and methodologies contained in the calculation of the Reinsurer's RBC Ratio in effect as of the Effective Time within thirty (30) calendar days after the implementation of such change, and if the Parties cannot agree on any such alternative, the Reinsurer shall continue to calculate its RBC Ratio as if such material change had not occurred; or 10 <Page> (b) at any time following a Trust Withdrawal Event, the financial strength rating of the Reinsurer falls below "BBB" as rated by S&P and "Baa2" as rated by Moody's. 11 <Page> "Trust Account" means the reserve trust account established by the Reinsurer and the Ceding Company for the benefit of the Ceding Company under the Trust Agreement. "Trust Agreement" means that certain Trust Agreement dated as of December 31, 2012 by and amon...