Document ID: chunk:federal_register_of_legislation:F2023L00317:body:0:p9
Version: federal_register_of_legislation:F2023L00317
Segment Type: other
Provision Reference: 
Character Range: 22748–23730

the parties (i.e. default on payment, or not maintaining specified interest coverage ratios).

   3(3).        Principal Value of the charge

This refers to the principal or face value or amount of the charge or encumbrance given over assets of the life company.

   3(4).        Outstanding Value of the charge

This refers to the outstanding value of the charge or encumbrance (as at the reporting date) given over assets of the life company.

   3(5).        Value of assets subject to the charge

For each separate charge listed, report in this column the value of the assets that are subject to the charge or encumbrance.

   3(6).        Extent of Indebtedness Secured by Assets

This field is automatically calculated. For each separate charge listed, the form will calculate the dollar value to which the assets are charged. It equals the minimum of the value of the assets subject to the charge (column 5) and the outstanding value of the charge granted (column 4).