General Requirements Applicable to Tenant’s Policies Sample Clauses

General Requirements Applicable to Tenant’s Policies. Each insurance carrier from whom Tenant or Landlord procures any insurance required of it hereunder must be licensed to do business in New York State (or otherwise reasonably acceptable to such counterparty) and be rated at least “A-” Class “VII” in the most recently published Best’s Key Rating Guide. If, during term of the policy, a carrier’s rating falls below “A-” Class “VII,” the insurance must be replaced no later than the renewal date of the policy with an insurer acceptable to Landlord and rated at least “A-” Class “VII” in the most recently published Best’s Insurance Report.