Common use of SAP Financial Statements Clause in Contracts

SAP Financial Statements. (a) As soon as possible, but in any event within seventy-five (75) days after the end of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the Annual Statement of such Insurance Subsidiary for such Fiscal Year prepared in accordance with SAP and accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary that such financial statement presents fairly, in accordance with SAP, the financial position of such Insurance Subsidiary for the period then ended; (b) As soon as possible, but in any event within sixty (60) days after the end of each of the first three Fiscal Quarters of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the quarterly statement of such Insurance Subsidiary for such Fiscal Quarter, all prepared in accordance with SAP and accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary that all such financial statements present fairly in accordance with SAP the financial position of such Insurance Subsidiary for the periods then ended; (c) Within fifteen (15) days after being delivered to any of the Insurance Subsidiaries constituting a Significant Subsidiary, any draft or final Triennial Examination Report issued by the applicable Department or the NAIC; (d) Within ninety (90) days after the close of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the "Statement of Actuarial Opinion" and "Management Discussion and Analysis" for each of the Insurance Subsidiaries which is provided to the applicable Department (or equivalent information should such Department no longer require such a statement) as to the adequacy of loss reserves of such Insurance Subsidiary. Such opinion shall be in the format prescribed by the Applicable Insurance Code of the state of domicile of such Insurance Subsidiary;

SAP Financial Statements. (ai) As soon as possible, but in any event within seventy-five (75) 75 days after the end of each Fiscal Year fiscal year of each Insurance Subsidiary (and, with respect to the Funds, within 180 days after the end of each fiscal year of the Insurance SubsidiariesFunds), a copy of the Annual Statement of such Insurance Subsidiary and each Fund for such Fiscal Year fiscal year prepared in accordance with SAP and and, in the case of each Insurance Subsidiary, accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters chief executive officer of such Insurance Subsidiary that such financial statement is complete and correct and presents fairlyfairly in all material respects in accordance with SAP the financial position of such Subsidiary for such fiscal year. (ii) If reasonably requested by the Required Lenders by written notice delivered to the Borrower within 45 days after delivery of each Insurance Subsidiary's or a Fund's Annual Statement pursuant to SECTION 7.3(b)(i), within 90 days after the date of such request, a copy of such Insurance Subsidiary's or Fund's Annual Statement prepared in accordance with SAP, certified, in the case of an Insurance Subsidiary, without 62 qualification by the independent certified public accountants regularly retained by such Insurance Subsidiary, or any other firm of independent certified public accountants of recognized national standing selected by the Borrower and reasonably acceptable to the Required Lenders that such Annual Statement is complete and correct and presents fairly in all material respects in accordance with SAP such Insurance Subsidiary's financial position of for such Insurance Subsidiary for the period then ended;fiscal year and continuing consolidated and consolidating financial statements. (biii) As soon as possible, but in any event within sixty (60) 45 days after the end of each of the first three Fiscal Quarters fiscal quarters of each Fiscal Year fiscal year of such Insurance Subsidiary and each Fund (and, in the case of each Fund, within 45 days after the fourth fiscal quarter of the Insurance Subsidiarieseach fiscal year of each Fund), a copy of the such Insurance Subsidiary's and each Fund's quarterly statement of such Insurance Subsidiary for such Fiscal Quarterfiscal quarter, all prepared in accordance with SAP and and, in the case of an Insurance Subsidiary, accompanied by the certification of the such Insurance Subsidiary's chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary chief executive officer that all such financial statements are complete and correct and present fairly in all material respects in accordance with SAP the such Insurance Subsidiary's financial position of such Insurance Subsidiary for the periods then ended;. (civ) Within fifteen (15) days after being delivered to any of the Insurance Subsidiaries constituting a Significant Subsidiary, any draft or final Triennial Examination Report issued by the applicable Department or the NAIC; (d) Within ninety (90) 90 days after the close end of each Fiscal Year fiscal year of each of Insurance Subsidiary and the Insurance SubsidiariesFunds, a copy of the such Insurance Subsidiary's and each Fund's "Statement of Actuarial Opinion" and "Management Discussion and Analysis" for each of the Insurance Subsidiaries which is provided to the applicable relevant Department (or equivalent information should such the Department no longer not require such a statement) as to the adequacy of loss reserves of such Insurance Subsidiary's and the Fund's loss reserves. Such opinion shall be in the format prescribed by the Applicable applicable Insurance Code Code. (v) Within 90 days after the end of each fiscal year, an Actuarial Report prepared by an independent actuary acceptable to the Required Lenders and certified as to the reserve position as of such fiscal year end by such independent actuary for (A) each Insurance Subsidiary and (B) each of the state Funds. (vi) Within 30 days of domicile of such filing with the Department, each Insurance Subsidiary;'s management discussion and analysis.

SAP Financial Statements. (ai) As soon as possibleWithin 5 days after the applicable regulatory filing date for each of its Fiscal Quarters, but in any event within seventy-five (75) days after the end of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the Annual Statement of such Insurance Subsidiary for such Fiscal Year prepared in accordance with SAP and accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary that such financial statement presents fairly, in accordance with SAP, the financial position of such Insurance Subsidiary for the period then ended; (b) As soon as possible, but in any event within sixty (60) 50 days after the end of each of the first three Fiscal Quarters of each Fiscal Year of each Insurance Subsidiary and of the Insurance Subsidiaries, ▇▇▇▇▇▇ ▇▇▇▇ Group a copy of the quarterly statement Quarterly Statement of such each Insurance Subsidiary and of the ▇▇▇▇▇▇ ▇▇▇▇ Group for such Fiscal Quarter, all prepared in accordance with SAP and accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge chief executive officer of financial matters of such each Insurance Subsidiary (and with respect to the ▇▇▇▇▇▇ ▇▇▇▇ Group, of ▇▇▇▇▇▇ ▇▇▇▇ Insurance Company) that all such financial statements are complete and correct and present fairly in accordance with SAP the financial position of such Insurance Subsidiary or the ▇▇▇▇▇▇ ▇▇▇▇ Group, as applicable, for the periods then ended;. (cii) Within fifteen (15) 5 days after being delivered to the applicable regulatory filing date for each of its Fiscal Years, but in any event within 60 days after the end of each Fiscal Year of each Insurance Subsidiary and of the ▇▇▇▇▇▇ ▇▇▇▇ Group a copy of the Annual Statement of each Insurance Subsidiaries constituting a Significant Subsidiary, any draft or final Triennial Examination Report issued Subsidiary and of the ▇▇▇▇▇▇ ▇▇▇▇ Group for such Fiscal Year prepared in accordance with SAP and accompanied by the applicable Department certification of the chief financial officer or chief executive officer of each Insurance Subsidiary (and with respect to the ▇▇▇▇▇▇ ▇▇▇▇ Group, of ▇▇▇▇▇▇ ▇▇▇▇ Insurance Company) that such financial statement is complete and correct and presents fairly in accordance with SAP the financial position of such Insurance Subsidiary or the NAIC;▇▇▇▇▇▇ ▇▇▇▇ Group, as applicable, for the period then ended. (diii) Within ninety (90) 5 days after the applicable regulatory filing date for each of its Fiscal Years, but in any event within 95 days after the close of each Fiscal Year of each of Insurance Subsidiary and the Insurance Subsidiaries, ▇▇▇▇▇▇ ▇▇▇▇ Group a copy of each Insurance Subsidiary’s and the "▇▇▇▇▇▇ ▇▇▇▇ Group’s “Statement of Actuarial Opinion" and "Management Discussion and Analysis" for each of the Insurance Subsidiaries ” which is provided to the applicable Department (or equivalent information should such the Department no longer require such a statement) as to the adequacy of loss reserves of such Insurance SubsidiarySubsidiary or the ▇▇▇▇▇▇ ▇▇▇▇ Group, as applicable. Such opinion shall be in the format prescribed by the Applicable applicable Insurance Code of the state of domicile of such Insurance Subsidiary;Code.

SAP Financial Statements. (ai) As soon as possible, but in any event within seventy-five (75) 75 days after the end of each Fiscal Year fiscal year of each Insurance Subsidiary (and, with respect to the Funds, within 180 days after the end of each fiscal year of the Insurance SubsidiariesFunds), a copy of the Annual Statement of such Insurance Subsidiary and each Fund for such Fiscal Year fiscal year prepared in accordance with SAP and and, in the case of each Insurance Subsidiary, accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters chief executive officer of such Insurance Subsidiary that such financial statement is complete and correct and presents fairlyfairly in all material respects in accordance with SAP the financial position of such Subsidiary for such fiscal year. (ii) If reasonably requested by the Required Lenders by written notice delivered to the Borrower within 45 days after delivery of each Insurance Subsidiary's or a Fund's Annual Statement pursuant to SECTION 7.3(b)(i), within 90 days after the date of such request, a copy of such Insurance Subsidiary's or Fund's Annual Statement prepared in accordance with SAP, certified, in the case of an Insurance Subsidiary, without 62 qualification by the independent certified public accountants regularly retained by such Insurance Subsidiary, or any other firm of independent certified public accountants of recognized national standing selected by the Borrower and reasonably acceptable to the Required Lenders that such Annual Statement is complete and correct and presents fairly in all material respects in accordance with SAP such Insurance Subsidiary's financial position of for such Insurance Subsidiary for the period then ended;fiscal year. (biii) As soon as possible, but in any event within sixty (60) 45 days after the end of each of the first three Fiscal Quarters fiscal quarters of each Fiscal Year fiscal year of such Insurance Subsidiary and each Fund (and, in the case of each Fund, within 45 days after the fourth fiscal quarter of the Insurance Subsidiarieseach fiscal year of each Fund), a copy of the such Insurance Subsidiary's and each Fund's quarterly statement of such Insurance Subsidiary for such Fiscal Quarterfiscal quarter, all prepared in accordance with SAP and and, in the case of an Insurance Subsidiary, accompanied by the certification of the such Insurance Subsidiary's chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary chief executive officer that all such financial statements are complete and correct and present fairly in all material respects in accordance with SAP the such Insurance Subsidiary's financial position of such Insurance Subsidiary for the periods then ended;. (civ) Within fifteen (15) days after being delivered to any of the Insurance Subsidiaries constituting a Significant Subsidiary, any draft or final Triennial Examination Report issued by the applicable Department or the NAIC; (d) Within ninety (90) 90 days after the close end of each Fiscal Year fiscal year of each of Insurance Subsidiary and the Insurance SubsidiariesFunds, a copy of the such Insurance Subsidiary's and each Fund's "Statement of Actuarial Opinion" and "Management Discussion and Analysis" for each of the Insurance Subsidiaries which is provided to the applicable relevant Department (or equivalent information should such the Department no longer not require such a statement) as to the adequacy of loss reserves of such Insurance Subsidiary's and the Fund's loss reserves. Such opinion shall be in the format prescribed by the Applicable applicable Insurance Code Code. (v) Within 90 days after the end of each fiscal year, an Actuarial Report prepared by an independent actuary acceptable to the Required Lenders and certified as to the reserve position as of such fiscal year end by such independent actuary for (A) each Insurance Subsidiary and (B) each of the state Funds. (vi) Within 30 days of domicile of such filing with the Department, each Insurance Subsidiary;'s management discussion and analysis.

SAP Financial Statements. (a) As soon as possible, but in any event within seventy-five sixty (7560) days after the end of each Fiscal Year fiscal year of each of the Insurance Subsidiaries, a copy of the Annual Statement of such Insurance Subsidiary Subsidiaries for such Fiscal Year fiscal year prepared in accordance with SAP and accompanied by the certification of the chief financial responsible officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary Subsidiaries that such financial statement presents statements present fairly, in accordance with SAP, the financial position of such Insurance Subsidiary Subsidiaries for the period then ended; (b) As soon as possible, but in any event within sixty (60) days after the end of each of the first three Fiscal Quarters fiscal quarters of each Fiscal Year fiscal year of each of the Insurance Subsidiaries, a copy of the quarterly statement of such Insurance Subsidiary Subsidiaries for such Fiscal Quarterfiscal quarter, all prepared in accordance with SAP and accompanied by the certification of the chief financial responsible officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary Subsidiaries that all such financial statements present fairly in accordance with SAP the financial position of such Insurance Subsidiary Subsidiaries for the periods then endedended (subject to normal year-end and audit adjustments); (c) Within fifteen (15) days after being delivered to any of the Insurance Subsidiaries constituting a Significant SubsidiarySubsidiaries, any draft or final Triennial Examination Report examination report issued from time to time by the applicable Department Insurance Regulatory Authority or the NAIC; (d) Within ninety (90) days after the close of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the "Statement of Actuarial Opinion" and "Management Discussion and Analysis" for each of the Insurance Subsidiaries which is provided to the applicable Department Insurance Regulatory Authority (or equivalent information should such Department the Insurance Regulatory Authority no longer require such a statement) as to the adequacy of loss reserves of such Insurance Subsidiary). Such opinion statement shall be in the format prescribed by the Applicable Insurance Code of the state of domicile of such Insurance Subsidiary;.

SAP Financial Statements. (ai) As soon as possible, but in any event within seventy-five (75) 75 days after the end of each Fiscal Year fiscal year of each Insurance Subsidiary (and, with respect to the Funds, within 180 days after the end of each fiscal year of the Insurance SubsidiariesFunds), a copy of the Annual Statement of such Insurance Subsidiary and each Fund for such Fiscal Year fiscal year prepared in accordance with SAP and and, in the case of each Insurance Subsidiary, accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters chief executive officer of such Insurance Subsidiary that such financial statement is complete and correct and presents fairlyfairly in all material respects in accordance with SAP the financial position of such Subsidiary for such fiscal year. (ii) If reasonably requested by the Required Lenders by written notice delivered to the Borrower within 45 days after delivery of each Insurance Subsidiary's or a Fund's Annual Statement pursuant to SECTION 7.3(b)(i), within 90 days after the date of such request, a copy of such Insurance Subsidiary's or Fund's Annual Statement prepared in accordance with SAP, certified, in the financial position case of an Insurance Subsidiary, without qualification by the independent certified public accountants regularly retained by such Insurance Subsidiary for the period then ended;Subsidiary, or any other firm of independent certified public (biii) As soon as possible, but in any event within sixty (60) 45 days after the end of each of the first three Fiscal Quarters fiscal quarters of each Fiscal Year fiscal year of such Insurance Subsidiary and each Fund (and, in the case of each Fund, within 45 days after the fourth fiscal quarter of the Insurance Subsidiarieseach fiscal year of each Fund), a copy of the such Insurance Subsidiary's and each Fund's quarterly statement of such Insurance Subsidiary for such Fiscal Quarterfiscal quarter, all prepared in accordance with SAP and and, in the case of an Insurance Subsidiary, accompanied by the certification of the such Insurance Subsidiary's chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary chief executive officer that all such financial statements are complete and correct and present fairly in all material respects in accordance with SAP the such Insurance Subsidiary's financial position of such Insurance Subsidiary for the periods then ended;. (civ) Within fifteen (15) days after being delivered to any of the Insurance Subsidiaries constituting a Significant Subsidiary, any draft or final Triennial Examination Report issued by the applicable Department or the NAIC; (d) Within ninety (90) 90 days after the close end of each Fiscal Year fiscal year of each of Insurance Subsidiary and the Insurance SubsidiariesFunds, a copy of the such Insurance Subsidiary's and each Fund's "Statement of Actuarial Opinion" and "Management Discussion and Analysis" for each of the Insurance Subsidiaries which is provided to the applicable relevant Department (or equivalent information should such the Department no longer not require such a statement) as to the adequacy of loss reserves of such Insurance Subsidiary's and the Fund's loss reserves. Such opinion shall be in the format prescribed by the Applicable applicable Insurance Code Code. (v) Within 90 days after the end of each fiscal year, an Actuarial Report prepared by an independent actuary acceptable to the Required Lenders and certified as to the reserve position as of such fiscal year end by such independent actuary for (A) each Insurance Subsidiary and (B) each of the state Funds. (vi) Within 30 days of domicile of such filing with the Department, each Insurance Subsidiary;'s management discussion and analysis.

SAP Financial Statements. (a) As soon as possible, but in any event within seventy-five sixty (7560) days after the end of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the Annual Statement of such Insurance Subsidiary for such Fiscal Year prepared in accordance with SAP and accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary that such financial statement presents fairly, in accordance with SAP, the financial position of such Insurance Subsidiary for the period then ended; (b) As soon as possible, but in any event within sixty (60) days after the end of each of the first three Fiscal Quarters of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the quarterly statement of such Insurance Subsidiary for such Fiscal Quarter, all prepared in accordance with SAP and accompanied by the certification of the chief financial officer or a vice-president with responsibility for or knowledge of financial matters of such Insurance Subsidiary that all such financial statements present fairly in accordance with SAP the financial position of such Insurance Subsidiary for the periods then ended; (c) Within fifteen (15) days after being delivered to any of the Insurance Subsidiaries constituting a Significant Subsidiary, any draft or final Triennial Examination Report issued by the applicable Department or the NAIC; (d) Within ninety (90) days after the close of each Fiscal Year of each of the Insurance Subsidiaries, a copy of the "Statement of Actuarial Opinion" and "Management Discussion and Analysis" for each of the Insurance Subsidiaries which is provided to the applicable Department (or equivalent information should such Department no longer require such a statement) as to the adequacy of loss reserves of such Insurance Subsidiary. Such opinion shall be in the format prescribed by the Applicable Insurance Code of the state of domicile of such Insurance Subsidiary;