Statutory Capital and Surplus. AMS will at all times cause UWLIC to maintain a Statutory Capital and Surplus of not less than the sum of (a) $128,000,000, plus (b) 50% of the positive Statutory Net Income earned by UWLIC in each Fiscal Quarter ending after December 31, 2001 and on or prior to the date of determination (excluding changes in unrealized gain/loss)."
Statutory Capital and Surplus. The Borrower and Holdings will not ----------------------------- permit, as of any date on or after the Closing Date, the aggregate Statutory Capital and Surplus of the U.S. Insurance Subsidiaries to be less than $316,000,000.
Statutory Capital and Surplus. HFS will not permit at any time AH's Statutory Capital and Surplus to be less than $2,650,000 as of the date of any reporting period required by law or required by the Texas Department of Insurance.
Statutory Capital and Surplus. Permit Adjusted Statutory Capital and Surplus of Western National Life to be less than $550,000,000.
Statutory Capital and Surplus. The definition of "Statutory Capital and Surplus" shall be amended and restated as follows:
Statutory Capital and Surplus. Section 6.5 of the Credit Agreement is hereby amended and restated as follows:
Statutory Capital and Surplus. The Borrower and Holdings will not permit the aggregate Statutory Capital and Surplus of the Insurance Subsidiaries to be less than (i) at any time from and including the Fourth Amendment Date to and including December 31, 2001, $509,185,070, and (ii) at any time thereafter, the greater of (A) 75% of the actual aggregate Statutory Capital and Surplus of the Insurance Subsidiaries as of the last day of the immediately preceding fiscal year, or (B) the aggregate Statutory Capital and Surplus required to have been maintained by the Insurance Subsidiaries under this Section 6.5 during the immediately preceding fiscal year.
Statutory Capital and Surplus. Borrower will at all times cause UWLIC to maintain a Statutory Capital and Surplus of not less than the sum of (a) $125,000,000, plus (b) 50% of the positive Statutory Net Income earned by UWLIC in each Fiscal Year commencing on December 31, 2003 and on or prior to the date of determination (excluding changes in unrealized gain/loss).
Statutory Capital and Surplus. (ii) Borrower shall cause HFC to maintain the following minimum stockholders' equity (determined in accordance with generally accepted accounting principles) as of the date of each reporting period required by law or required by the Texas Department of Insurance: 1997 $ 6,530,000 1998 $ 6,750,000 1999 $ 7,050,000 2000 $ 8,800,000 2001 $ 9,300,000"
Statutory Capital and Surplus. Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company shall maintain a combined statutory capital and surplus, as determined in accordance with SAP, equal to or greater than $400,000,000, with such combined statutory capital and surplus being calculated as the sum of (x) Farm Bureau Life Insurance Company's statutory capital and surplus PLUS (y) EquiTrust Life Insurance Company's statutory capital and surplus (the "MINIMUM CAPITAL AND SURPLUS THRESHOLD"); PROVIDED, HOWEVER, that the Minimum Capital and Surplus Threshold shall increase each quarter, commencing on December 31, 2003, by 50% of the prior quarter's positive statutory net income for Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company on a combined basis, determined in accordance with SAP.
