A.M. Best Rating Sample Clauses
The A.M. Best Rating clause establishes a requirement for insurance carriers to maintain a specific financial strength rating, as determined by the A.M. Best Company, an independent insurance rating agency. In practice, this clause typically mandates that insurers involved in the contract must hold at least a certain minimum rating (such as A- or better) to ensure their financial stability and reliability. This provision helps protect the parties by ensuring that only reputable and financially sound insurers are used, thereby reducing the risk of insurer insolvency and ensuring claims can be paid.
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A.M. Best Rating. The Borrower will not permit its A.M. Best Rating to fall below the rating of “B++” or to be withdrawn.
A.M. Best Rating. Not permit the A.M. Best rating of any of its Material Insurance Subsidiaries to be less than A-.
A.M. Best Rating. From and after the date of this Agreement until the earlier of (a) the Closing and (b) the termination of this Agreement in accordance with its terms, the Seller and the Buyer shall use commercially reasonable efforts to pursue, for the period from and after the Closing, an AM Best independent rating of A- or above for the Company. For the avoidance of doubt, ▇▇▇▇▇▇ expressly agrees that such rating may not be obtained, and the obtainment of such rating shall not be a condition to the Closing.
A.M. Best Rating. Each MSA Group Insurance Company shall have been and continue to be assigned a financial strength rating of “A-” or higher by A.M. Best Company; and A.M. Best Company shall not have notified any AFI Group Company or MSA Group Company that it intends to downgrade any such rating below “A-” (excluding any such downgrade resulting solely from the announcement of the Merger).
A.M. Best Rating. As of the close of business on the Business Day immediately preceding the date hereof, UCS has been assigned a financial strength rating of “A-” “Excellent” by A.M. Best Company. Since January 1, 2022, A.M. Best Company has not notified UCS in writing that it intends to downgrade UCS’s rating or place any such rating under review with negative implications.
A.M. Best Rating. Ohio Indemnity must maintain an AM Best rating of at least B++.
A.M. Best Rating. On the Effective Date, each Regulated Insurance Company shall have an A.M. Best financial strength rating of at least “B++”.
A.M. Best Rating. Use commercially reasonable efforts to cause each of the Regulated Insurance Companies that is a Domestic Subsidiary to be rated for financial strength by A.M. Best at all times.
A.M. Best Rating. On the Effective Date, each Borrower which is a Regulated Insurance Company or has a Subsidiary which is a Regulated Insurance Company shall cause such Regulated Insurance Company which has a claims paying rating from A.M. Best Co. (or its successor) to have an A.M. Best financial strength rating of at least “B++”.
A.M. Best Rating. The Borrower shall maintain at all times an A.M. Best Rating of A, and the Borrower’s Subsidiary United Life Insurance Company shall maintain an A.M. Best Rating of A- at all times.