Trust Account Balance definition

Trust Account Balance means, as of a given date, the aggregate market value of all assets in the Trust Account on such date.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Trust Account Balance means, as of a given date, the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of all assets in the Trust Account on such date, determined in the manner set forth in Section 9.2.

Trust Account Balance means the Statutory Carrying Value of assets in the Trust Account, as of any date of determination.

Examples of Trust Account Balance in a sentence

Such report shall set forth the amount by which the Reinsurance Trust Account Balance equals or exceeds the Required Balance, in each case as of the end of the immediately preceding calendar quarter or at such other time as OSFI may specify.
Not later than 48 hours prior to the Closing, Liberty shall deliver to PRISA a certificate signed by the Chief Executive Officer of Liberty in the form of Exhibit F attached hereto (the “Transaction Cash Certificate”), which shall set forth the amount of Transaction Cash along with a schedule setting forth in reasonable detail the allocation of the Trust Account Balance in excess of the Transaction Cash.
Liberty shall use its reasonable best efforts to cause the Trustee to provide, not later than 48 hours prior to the Closing, a written confirmation to PRISA and Liberty confirming the Trust Account Balance as of such time to be released upon Closing in accordance with directions provided or to be provided by Liberty.
If at any time all of the reinsurance provided pursuant to the Retrocession Agreement, if applicable, is on a funds withheld basis, references to the Retrocession Trust Account, Retrocession Trust Account Balance and Retrocession Trust Agreement shall not apply to this Agreement.
If the Trust Account Balance as of the end of the quarter corresponding to a Settlement Date is greater than the Aggregate Required Amount set forth in the Quarterly Report for such Settlement Date, Allstate may seek to reduce such excess through withdrawal of assets from the Trust Account in accordance with the provisions of Paragraph (h) below.
For the avoidance of doubt, if the Relevant Amount exceeds the Pre-Transaction Trust Account Balance, there shall be no surrender and forfeiture pursuant to the provisions of this Section ‎2(e).
If, however, the statement shows that the balance of the Trust Agreement as of the statement date exceeds the Minimum Trust Account Balance, the Company shall, within 15 calendar days after receipt of written request from the Reinsurer, decrease such funding by the amount of such excess.
If, on any Settlement Date, the Trust Account Balance as of the end of the quarter corresponding to such Settlement Date is greater than an amount equal to 102% of the Required Amount set forth in the Quarterly Settlement Report for such Settlement Date, the Reinsurer may reduce such excess through the withdrawal of assets from the Trust Account in accordance with the provisions of Section l 1.09(b).
On the Closing Date, the Reinsurer shall deposit into the Trust Account Eligible Trust Account Assets with a Book Value (and Fair Market Value no less than Book Value) equal, in the aggregate, to (i) the excess of the estimated Required Balance as of the Closing Date over the Initial Net Settlement Amount minus (ii) the Retrocession Trust Account Balance (if applicable and if any) as of the Closing Date.
On the Amendment No. 1 Effective Date, to the extent that the Trust Account Balance is less than the Company’s estimate of the Statutory Reserve Amount immediately following the Amendment No. 1 Effective Time, the Reinsurer shall deposit additional assets into the Trust Account in an amount at least equal to such deficit.

More Definitions of Trust Account Balance

Trust Account Balance means, as of any date of determination, the aggregate Statutory Book Value of all Eligible Assets in the Trust Account on such date. “Trust Account Report” has the meaning set forth in Section 3.8(c). “Trust Agreement” has the meaning set forth in the Recitals. “Trustee” means Citibank, N.A., a national banking association. “Unauthorized Access” has the meaning set forth in Section 12.3.

Trust Account Balance means, as of any date of determination, the Applicable Asset Value of the Eligible Assets in the Trust Account on such date.

Trust Account Balance as of a specified time, shall mean the aggregate cash value of all assets held in the Trust Account at such time. “U.S. GAAP” shall mean generally accepted accounting principles in the United States, as in effect from time to time, consistently applied. “Warrant Amendment Agreement” shall mean that certain Amendment No. 1 to the Liberty Warrant Agreement to be entered into by and among Continental Stock Transfer & Trust Company, PRISA, Liberty and Liberty Virginia in substantially the form attached hereto as Exhibit A. “Warrant Exchange” shall mean (1) the exchange of the Liberty Warrants in consideration for PRISA ADS-As delivered by PRISA and (2) the delivery of cash by Liberty Virginia, in accordance with the Warrant Amendment Agreement.

Trust Account Balance means, as of any date of determination, the fair market value of the assets in the Trust Account as of such date. “Trust Agreement” shall have the meaning set forth in Section 11.02. “Trustee” shall have the meaning set forth in Section 11.02. “VA Separate Accounts” shall have the meaning set forth in Section 3.01. Article II.