WNFIC definition
Examples of WNFIC in a sentence
The Statutory Statements were prepared in accordance with SAP prescribed or permitted by the Texas Department of Insurance (the “Insurance Regulator”) applied on a consistent basis and fairly present, in all material respects in accordance with SAP, the financial position of WNFIC, the admitted assets, liabilities, capital and surplus of WNFIC at their respective dates and the results of operations, changes in surplus and cash flows of such WNFIC at their respective dates thereof.
Except as is indicated therein, all assets that are reflected on the Statutory Statements comply in all material respects with all applicable Laws regulating the investments of WNFIC and all applicable Laws with respect to admitted assets.
The Closing Balance Sheet shall be prepared and Indebtedness, Net Working Capital, WNFIC Statutory Surplus, ▇▇▇▇▇▇▇▇ Liabilities and Transaction Expenses shall be determined in accordance with this Agreement.
The Dispute Resolution Arbiter’s determination shall be based solely on the definitions of Indebtedness, Net Working Capital, WNFIC Statutory Surplus, ▇▇▇▇▇▇▇▇ Liabilities and Transaction Expenses contained herein and the provisions of this Agreement, including this Section 1.09.
The financial statements included in the Statutory Statements accurately reflect in all material respects the extent to which, pursuant to applicable Laws and SAP, WNFIC is entitled to take credit for reinsurance (or any local equivalent concept) on such Statutory Statements.
For purposes of this Agreement, the term “Pre-Closing Transactions” (including the phrase “after giving effect to the Pre-Closing Transactions”) shall mean, with respect to the dividend or other transfer of any surplus from WNFIC to WRM America Intermediate Holding Company, Inc.
Exhibit F sets forth an illustrative statement (the “Reference Statement”) prepared in good faith by the Company in cooperation with the Parent setting forth the various line items used (or to be used) in, and illustrating as of the date set forth therein, the calculation of Indebtedness, Net Working Capital and WNFIC Statutory Surplus prepared and calculated in accordance with this Agreement.
The statutory balance sheets and income statements included in the annual Statutory Statements have been audited by WNFIC’s independent auditors, and the Company has delivered or made available to the Parent true and complete copies of all audit opinions related thereto for the periods beginning January 1, 2012 through the date hereof, in each case as filed with the applicable Insurance Regulator of WNFIC.