Economic Reserves definition

Economic Reserves has the meaning assigned to it in the Reinsurance Agreement.

Economic Reserves means, as of any date of determination, the aggregate economic reserves with respect to the Financed Policies, determined in accordance with the methodologies set forth on Schedule 1.1(D).

Economic Reserves means: (1) for Coverages in the Level Term Period, the Reinsurer’s Quota Share of (A) the present value of future benefits (net of Third Party Reinsurance) plus (B) the present value of future Expense Allowances and Other Obligations less (C) the present value of future premiums (net of Third Party Reinsurance premiums) at assumptions for mortality and lapse documented in the Milliman Report (which assumptions shall not be re-assessed after the Effective Date), 100% lapse at the end of the Level Term Period, and a 5% discount rate; (2) for Coverages not in the Level Term Period, equal to the Reinsurer’s Quota Share of the Statutory Reserves; and (3) for Waiver of Premium Coverages, equal to the Reinsurer’s Quota Share of the Statutory Reserves. Economic Reserves in aggregate are subject to a minimum of the Reinsurer’s Quota Share of the Statutory Reserves on the Waiver of Premium Coverages, and a maximum of the Reinsurer’s Quota Share of the Statutory Reserves for the Reinsured Liabilities.

Examples of Economic Reserves in a sentence

• Inherent Industry Risks – Risks of Failing to Discover Economic Reserves Additions The Company’s strategies include focusing on oil and gas prone selected areas in Australia, utilizing a team of highly qualified professionals with expertise and experience in these areas, expanding operations in core areas, continuously assessing new exploration opportunities to complement existing activities and striving for a balance between higher risk exploratory drilling, and lower risk development drilling.

• Reserve financing costs will be assumed to equal 150 basis points per annum for purposes of the Economic Reserves.

• Pursuant to the Ballantyne Reinsurance Agreement, in consideration for the June 30th Ballantyne Recapture, Ballantyne has the obligation to pay to SRUS, in accordance with Section 10.5.1 of the Ballantyne Reinsurance Agreement, an amount equal to the sum of (i) 92.5% of the Economic Reserves attributable to the June 30th Ballantyne Recaptured Business, less (ii) the Loss Carryforward Balance, less (iii) the Recapture Fee (the “June 30th Ballantyne Recapture Consideration”).

• The Economic Reserves will include two components: The Economic Fixed Account Reserves The Economic GMDB Reserves For clarity, the Economic Fixed Account Reserves relate to the liabilities arising from the fixed account of the AFLIAC Contracts.

• Assets supporting the Economic Reserves will be held by LNL for the benefit of LRCVI in a separate Funds Withheld Account segregated from the general account assets of LNL.

More Definitions of Economic Reserves

Economic Reserves for any Quarterly Accounting Period means Economic Reserves determined with respect to the Third Amendment Additional Policies in accordance with the provisions of Annex A-3 to this Amendment No. 3, provided, however, that for purposes of this Annex D-1, Economic Reserves (1) shall include the amount of IMR, if any, attributable to assets included in the initial Economic Reserve Portfolio and created since the date of this Amendment No. 3, and (2) shall be determined as of the Last Day of the Current Quarterly Accounting Period unless otherwise specified in this Annex D-1.

Economic Reserves means, as of any date of determination, the general account economic reserves with respect to the Covered Insurance Policies as of such date without netting any reserves ceded to reinsurers under the Existing Reinsurance Agreements or the Reinsurer Existing Reinsurance Agreements, as determined by the Reinsurer in accordance with the methodologies and assumptions set forth on Schedule 1.1(E) consistently applied; provided that the term "Economic Reserves" shall not include reserves with respect to any Covered Insurance Policies reinsured on a coinsurance basis under any Underlying Reinsurance Agreement for which the Ceding Company holds the Trust Withheld Assets.

Economic Reserves means, as of any date of determination, economic reserves as described in the Accounting Principles.

Economic Reserves means, as of any date of determination, an amount equal to the greater of (a) zero and (b) an amount calculated by the Reinsurer in accordance with the accounting and actuarial practices of the Reinsurer, consistently applied.

Economic Reserves proven and probable reserves of Mxxxxx, as set out in the Feasibility Study or in the most recent Mine Plan provided by the Borrower to IFC; “Environmental and Social Action Plans” the Environmental Action Plan (EAP) entitled Plan de Gestión Ambiental, dated June 2, 2003; the Public Consultation and Disclosure Plan (PCDP), dated February 24, 2004; the Land Acquisition Procedures (LAP), February 20, 2004; and the Indigenous Peoples Development Plan (IPDP), dated February 20, 2004; “Environmental, Health and Safety Guidelines” Mining and Milling, August 1995; Hazardous Materials Management Guidelines, December 2001; and Occupational Health and Safety, June 2003; copies of which have been delivered to, and receipt of which has been acknowledged by, the Borrower by letter dated March 22, 2004. and incorporated herein by reference;

Economic Reserves means an amount calculated in accordance with Schedule 1.1B.

Economic Reserves shall not include reserves with respect to any Covered Insurance Policies reinsured on a coinsurance basis under any Underlying Reinsurance Agreement for which the Ceding Company holds the Trust Withheld Assets.