ACTUARIAL VALUATIONS Clause Samples

ACTUARIAL VALUATIONS. Borrowers shall deliver to Lender, as soon as available and in any event within 120 days after the end of each fiscal year of GAINSCO, a report by an independent actuarial consulting firm of recognized national standing reviewing the adequacy of loss and loss adjustment expense reserves as at the end of the last fiscal year of each Insurance Subsidiary, determined in accordance with SAP, and stating an estimated amount of minimum reserves, it being agreed that in each case such independent firm will be provided access to or copies of all relevant valuations relating to the insurance business of each such Insurance Subsidiary in the possession of or available to the Borrowers or their Subsidiaries.

ACTUARIAL VALUATIONS. The Parties agree that there shall be actuarial valuations of the Plan completed in accordance with the Funding Policy and consistent with the terms of the Memorandum of Agreement between the Parties dated November 28, 2017.

ACTUARIAL VALUATIONS. The Trustee shall obtain actuarial valuations of the Plan from time to time from the Actuary but in any event the effective date of each such valuation shall not be later than three years after the effective date of the previous valuation. Each such valuation shall be obtained within the period prescribed by the 1995 Act. The Plan Actuary shall provide such actuarial statements and actuarial certificates as are required by the 1995 Act and by the Disclosure Regulations.

ACTUARIAL VALUATIONS. 5.1 At each and every Pre-Payment Date, XL Re's Appointed Actuary will conduct an Actuarial Valuation of the Business Covered in accordance with the provisions of the Security Agreement. 5.2 The value of the Liability Outgo shall be compared with the value of the Assets at the relevant Pre-Payment Date to determine the extent of any Surplus, if the value of the Assets exceeds the value of the Liability Outgo, or, a Further Capital Requirement, if the value of the Liability Outgo exceeds the value of the Assets. 5.3 Should there be a Further Capital Requirement at any Pre-Payment Date then the Retrocessionaire will be required to make a payment to XL Re at the Further Capital Payment Date to meet the Retrocessionaire's Share of the Further Capital Requirement. 5.4 Should there be a Surplus at any Pre-Payment Date then part or all of the Surplus may be declared as a Distributable Surplus and released From the Assets. The amount of the Distributable Surplus will be determined at the sole discretion of XL Re's Appointed Actuary save that, should the Surplus exceed the Maximum Surplus, then the Distributable Surplus will be no less than the amount by which the Surplus exceeds the Maximum Surplus. The Retrocessionaire will receive the Retrocessionaire's Share of the Distributable Surplus at the Distributable Surplus Date.

ACTUARIAL VALUATIONS. 16 4.1 General 16 4.2 Initial Actuarial Valuation 16 4.3 Annual Actuarial Valuations 16 4.4 Terminal Actuarial Valuations 17

ACTUARIAL VALUATIONS. 7.1 The Administering Authority may periodically and shall at least on a triennial basis obtain from an actuary a certificate specifying in the case of the Admission Body the percentage or amount by which in the actuary's opinion the contribution rate at the primary rate and secondary rate within the meaning regulation 62 of the Regulations should be increased or reduced. This is with a view to ensuring that as far as is reasonably possible the value of assets of the Fund in respect of current and former Eligible Employees is neither materially more or materially less than the anticipated liabilities of the Fund in respect of the said Eligible Employees at the end of the recovery period applicable to the Admission Body. For the avoidance of doubt the decision as to whether the said assets are materially more or materially less than the said liabilities shall be left to the discretion of the actuary appointed by the Administering Authority. 7.2 Upon termination of this Agreement the Administering Authority is required pursuant to the Regulations to obtain: 7.2.1 an actuarial valuation of the liabilities of the Fund in respect of current and former Eligible Employees as at the date of termination; and 7.2.2 a revised rates and adjustment certificate within the meaning of the Regulations showing the exit payment that would be due from the Admission Body but for clause 7.3. 7.3 Notwithstanding the obligation under regulation 64 of the Regulations to obtain a revised rates and adjustments certificate on termination of the Agreement, subject to clause 7.4 the parties agree that any liabilities or assets accrued in the Fund relating to the Admission Body at the date of termination will be subsumed within the liabilities or assets of the Constituent Councils in the Fund in the following shares: Lancashire County Council 2⁄3 ▇▇▇▇▇▇▇▇▇ Borough Council 1⁄6 Blackpool Borough Council 1⁄6 and the Admission Body shall not be liable to pay any exit payment or entitled to receive any exit credit on becoming an exiting employer. 7.4 Where this Agreement is terminated pursuant to clause 8.2 due to the Admission Body being designated as a Scheme employer under Part 1 or Part 2 of Schedule 2 to the Regulations pursuant to an amendment thereto, any liabilities or assets accrued in the Fund relating to the Admission Body at the date of termination will be subsumed within the liabilities or assets of the Admission Body in its revised status as a Scheme employer under Part 1 or Pa...

ACTUARIAL VALUATIONS. The Purchaser has been provided all actuarial valuations, if any, prepared for each Employee Plan since 1998;