Statutory Book Value definition

Statutory Book Value has the meaning set forth in the Indemnity Reinsurance Agreement.

Statutory Book Value means, with respect to any asset held in the Trust Account, the amount permitted to be carried by the Reinsurer as an admitted asset consistent with SAP applicable to the Ceding Company, consistently applied.

Statutory Book Value means with respect to any Eligible Asset or Commercial Mortgage Loan, the sum of (a) the dollar amount thereof stated, or would be stated, on the Statutory Financial Statements as admitted assets of the Reinsurer, calculated in accordance with SAP applicable to the Reinsurer, but disregarding any permitted practices applicable to the Reinsurer, plus (b) the due and accrued investment income on such Eligible Asset or Commercial Mortgage Loan as of the date on which Statutory Book Value is determined.

Examples of Statutory Book Value in a sentence

• The term "Statutory Book Value" shall mean, with respect to any Eligible Asset, the dollar amount thereof stated on the statutory financial statements as admitted assets of the Grantor, as determined in accordance with the statutory accounting requirements in the Grantor's state of domicile, but disregarding any prescribed or permitted practices applicable to the Grantor.

• After a final and binding resolution of any dispute described in this Section 5.8(h) is reached, the Parties agree to promptly make any necessary adjustments under Section 5.8(f) so that the Statutory Book Value and/or the Fair Market Value, as applicable, of the Eligible Assets held in the Trust Account is not less than the amount required pursuant to Section 5.8(f)(i) or 5.8(f)(ii), as applicable.

• If the Parties are unable to resolve any disagreement within ten (10) Business Days after the Ceding Company delivers written notice of any such disagreement to the Reinsurer, the Parties shall jointly request a Third Party Appraiser to determine the Statutory Book Value or Fair Market Value, as applicable, of the disputed Eligible Asset or whether the disputed asset is an Eligible Asset as of the relevant date.

• The report required to be delivered by the Reinsurer as described in this S ection 7.6 shall include a listing of each asset in the Trust Account and the Reinsurer Statutory Book Value and Fair Market Value of each such asset as of the end of the relevant Monthly Accounting Period.

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More Definitions of Statutory Book Value

Statutory Book Value means, with respect to any ModCo Asset, as of the relevant date of determination, the carrying value thereof on the books of the Ceding Company determined in accordance with SAP as of such date, including any investment income due and accrued thereon, as such amount is adjusted in accordance with Section 4.1(f).

Statutory Book Value means the carrying value of the subject asset or liability on the books of the Reinsurer for statutory statement purposes determined in accordance with the statutory accounting principles and practices prescribed by the Reinsurer’s state of domicile, consistently applied.

Statutory Book Value means (a) as to cash, the amount of such cash in United States dollars and (b) as to any other Asset, the carrying value of the subject Asset on the books of the Grantor for statutory statement purposes determined in accordance with the statutory accounting principles and practices prescribed by the Grantor’s state of domicile, consistently applied.

Statutory Book Value shall have the meaning specified in the Coinsurance Agreement.

Statutory Book Value means, as of any date of determination, (a) with respect to any cash or asset in the Funds Withheld Account, the carrying value of the subject asset as of such date of determination for purposes of the Cedant’s statutory financial statements, determined in accordance with Cedant SAP and (b) with respect to any cash or asset in the OC Account, the carrying value of the subject asset as of such date of determination for purposes of the Reinsurer’s statutory financial statements, determined in accordance with Reinsurer SAP.

Statutory Book Value means the amount carried in respect of such asset by the Reinsurer as an admitted asset determined in accordance with Illinois SAP, but disregarding any permitted practices applicable to the Reinsurer, other than those of general applicability to life insurer in the State of Illinois. The Statutory Book Value of the assets to be transferred as part of the Commutation Consideration shall be determined as provided in the Commutation Accounting Principles.

Statutory Book Value means, with respect to any investment asset held in the Account, as of any date of determination, the amount permitted to be carried by the Company determined in accordance with SAP, consistently applied, without regard to any permitted practice applicable to the Company.