Impairment Value

Impairment Value. Means, with respect to any net mark-to-market losses on credit derivative contracts excluded from stockholder's equity in the definition of Total Capital or from the calculation of minimum net assets in Section 5.03(a), the cumulative amount of such losses incurred from the impairment of the obligations underlying such credit derivative contracts, as (i) reasonably determined by Ambac Financial in good faith and in a manner consistent with the calculation thereof set forth in the quarterly... operating supplements of Ambac Financial produced and released alongside the quarterly and annual financial statements of Ambac Financial furnished pursuant to Sections 5.01(f)(i) and 5.01(f)(ii) and (ii) set forth in the Compliance Certificate delivered pursuant to Section 5.01(f)(vi). View More