Common use of Disputed Calculations or Valuations Clause in Contracts

Disputed Calculations or Valuations. Upon receipt of the quarterly calculation from the Debtor, the Secured Party shall have the right to reasonably object to such calculation and to offer a reasonable proposal for the amount of the reserves described in Section 3.02 hereof. If the parties in good faith are not able to resolve the disagreement within two weeks of the Secured Party's indication of disagreement, the parties shall mutually agree upon an independent actuarial firm to determine an appropriate level of aggregate reserves as described in Section 3.02 hereof with respect to the Reinsurance Contracts, such level to be no more than the amount proposed by the Secured Party and no less than the amount reported by the Debtor, and both parties agree to be bound by such determination. In such case the Debtor shall deposit sufficient Qualifying Assets with a fair market value equal to Excess Reserves (if any) within 3 Local Business Days after receipt of the actuary report. The fees and expenses of the actuarial firm shall be shared equally by the Debtor and the. Secured Party.

Disputed Calculations or Valuations. Upon receipt of the quarterly calculation from the Debtor, the Secured Party shall have the right to reasonably object to such calculation and to offer a reasonable proposal for the amount of the reserves described in Section 3.02 hereof. If the parties in good faith are not able to resolve the disagreement within two weeks of the Secured Party's indication of disagreement, the parties shall mutually agree upon an independent actuarial firm to determine an appropriate level of aggregate reserves as described in Section 3.02 hereof with respect to the Reinsurance Contracts, such level to be no more than the amount proposed by the Secured Party and no less than the amount reported by the Debtor, and both parties agree to be bound by such determination. In such case the Debtor shall deposit sufficient Qualifying Assets with a fair market value equal to Excess Reserves (if any) within 3 Local Business Days after receipt of the actuary report. The fees and expenses of the actuarial firm shall be shared equally by the Debtor and the. the Secured Party.