Acceptable Insurer Clause Samples

Acceptable Insurer. “Acceptable Insurer” means an insurance company (i) authorized to conduct business in the country, state, territory or area where operations are taking place and (ii) with a Financial Strength Rating of “A-” or better and a Financial Size of “X” (Financial Size 10) or better by A.M. Best’s Insurance Guide and Key Ratings (or an equivalent rating by another nationally recognized insurance rating agency of similar standing if S&P’s ratings or Best’s Insurance Guide and Key Ratings shall no longer be published) or with a rating of “A” or better by Standard and Poor’s (S&P) or (iii) other insurance companies of recognized responsibility reasonably satisfactory to the Administrative Agent.