Insurance Issued by the Insurance Companies Sample Clauses

Insurance Issued by the Insurance Companies. (a) Since January 1, 2002, all benefits claimed by any Person under any Insurance Contract have in all material respects been paid (or provision for payment thereof has been made) in accordance with the terms of the contracts under which they arose and such payments were not materially delinquent and were paid (or will be paid) without fines or penalties, except for any such claim for benefits for which any of the Insurance Companies reasonably believes that there is a reasonable basis to contest payment and is taking such action. (b) Seller has made available to Buyer true, complete and correct copies of all underwriting manuals (including each amendment thereto) utilized by the Insurance Companies with respect to the Insurance Contracts. The underwriting standards utilized and rates and rating factors and criteria applied by the Insurance Companies with respect to the Insurance Contracts outstanding as of the date hereof conformed in all material respects to those contained in the Insurance Companies’ applicable underwriting manuals as in effect at the times such Insurance Contracts were underwritten and, with respect to any Insurance Contract reinsured in whole or in part, conform in all material respects to the standards and ratings required pursuant to the terms of the related reinsurance, coinsurance, modified coinsurance or other similar contracts. (c) To the Knowledge of Seller: (i) each Producer, at the time such Producer solicited, negotiated, wrote, sold or produced business for the Insurance Companies, to the extent required by Law as then in effect, was duly and appropriately appointed by the Insurance Companies to act as a Producer for the Insurance Company and was duly and appropriately licensed as a Producer (for the type of business solicited, negotiated, written, sold or produced by such Producer), in each case, in the particular jurisdiction in which such Producer solicited, negotiated, wrote, sold or produced such business for the Insurance Companies; (ii) no such Producer violated any material term or provision of any Law as then in effect applicable to any aspect (including, but not limited to, the soliciting, negotiating, marketing, sale or production) of the Insurance Companies’ products; (iii) no such Producer has materially breached the terms of any agency or broker Contract with or for the benefit of the Insurance Companies (excluding engaging in “twisting” activities); and (iv) no Producer designated by any of the Insurance Comp...
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Insurance Issued by the Insurance Companies. To the knowledge of the Company: (a) Except as is not, individually or in the aggregate, reasonably likely to have a Material Adverse Effect on the Company, all benefits claimed by any Person under any Insurance Contract have in all material respects been paid in accordance with the terms of the Insurance Contracts under which they arose, such payments were not materially delinquent and were paid (or will be paid) without fines or penalties (excluding any statutorily imposed interest for payments after a specified time period), except for any such claim for benefits for which the Company believes there is a reasonable basis to contest payment and is taking such action. (b) Except as is not, individually or in the aggregate, reasonably likely to have a Material Adverse Effect on the Company, each insurance agent or broker, at the time such agent or broker wrote, sold or produced Insurance Products, to the extent required by applicable Law, was duly appointed by the applicable Subsidiary of the Company to act as an agent for such Subsidiary of the Company and was duly licensed as an insurance agent or broker (for the type of business written, sold or produced by such insurance agent or broker) in the particular jurisdiction in which such agent or broker wrote, sold or produced such business for such Subsidiary of the Company.
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Insurance Issued by the Insurance Companies. (a) Since January 1, 2012, all benefits due and payable by or on behalf of the Insurance Companies under the Crop Hail Policies and FCIC Policies issued or reinsured by the Insurance Companies have in all material respects been paid in accordance with the terms of the Crop Hail Policy or FCIC Policy under which they arose, except for such benefits for which an Insurance Company believes there is a reasonable basis to contest payment. (b) All policy forms for Crop Hail Policies and FCIC Policies issued by the Insurance Companies, and all amendments, applications, and certificates pertaining thereto, where required by applicable Laws, are on forms approved by the FCIC or the other applicable Governmental Authorities or on forms that have been filed and not objected to (or such objection has been resolved) by the FCIC or Governmental Authorities within the period provided by applicable Laws for objection, subject to immaterial exceptions. (c) Any rates of the Insurance Companies currently in use by the Insurance Companies that are required to be filed with or approved by any Governmental Authority have been so filed or approved and the rates currently used by the Insurance Companies conform thereto, subject to immaterial exceptions. (d) As of the date hereof, there are no material unpaid claims or assessments made against the Insurance Companies by any state insurance guaranty associations or similar organizations in connection with such association’s insurance guarantee fund.
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Insurance Issued by the Insurance Companies. Except as set forth on Schedule 5.21: (a) all forms of insurance policies and riders thereto and all amendments and applications related thereto (collectively, "Policies"): (a) currently issued (or filed pending current review by applicable Administrative Authorities) by the Eagle Entities, or (b) issued at any time by KEIC, are, and were, to the extent required under applicable insurance laws, on forms approved by applicable Administrative Authorities of the jurisdiction where issued or have been filed with and not objected to by such Administrative Authorities within the period provided for objection. All policy applications with respect to Policies currently issued as of the date of this Agreement and required to be filed with or approved by applicable authorities under applicable insurance laws have been so filed or approved. Any premium rates with respect to Policies currently issued, required to be filed with or approved by applicable regulatory Administrative Authorities under applicable insurance laws have been so filed or approved and premiums charged conform thereto. No deficiencies have been asserted by any Administrative Authority with respect to any such filings which have not been cured or otherwise resolved to the satisfaction of such Administrative Authority; (b) KEIC has (i) timely paid all guaranty fund assessments that are due, or claimed or asserted by any insurance regulatory authority to be due from KEIC, or (ii) except for the California Prepayments, provided for all such assessments in the Financial Statements to the extent necessary to be in conformity with SAP; (c) the underwriting standards utilized and rates and rating factors and criteria applied by the Insurance Companies with respect to Policies outstanding as of the date hereof have been previously disclosed to Buyer and with respect to any such Policies reinsured in whole or in part, conform to the standards and ratings required pursuant to the terms of the related reinsurance, coinsurance, modified coinsurance or other similar agreements; and (d) each insurance agent or broker, at the time such agent or broker wrote, sold or produced business for any of the Insurance Companies, to the extent required by law, was duly appointed by such Insurance Company to act as an agent for the Insurance Company and, to the Knowledge of Sellers, was duly licensed as an insurance agent or broker (for the type of business written, sold or produced by such insurance agent or broker) in the p...
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Related to Insurance Issued by the Insurance Companies

  • Insurance Companies Insurance required hereunder shall be in companies duly licensed to transact business in the State of Washington, and maintaining during the policy term a General Policyholders Rating of ‘A-’ or better and a financial rating of ‘IX’ or better, as set forth in the most current issue of “Best’s Insurance Guide.”

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • R&W Insurance Policy (a) Buyers have negotiated the R&W Insurance Policy. Immediately following the execution and delivery of this Agreement, Buyers shall bind coverage in respect of the R&W Insurance Policy to incept as of the execution and delivery of this Agreement and shall timely pay that portion of any premium and underwriting fee, in each case then due and payable, to the R&W Insurer to bind and incept coverage under the R&W Insurance Policy. Buyers shall take commercially reasonable action to pay the R&W Insurer the remainder of premium and all other costs required for issuance of the R&W Insurance Policy when due. Buyers shall take commercially reasonable action to execute and cause to be executed and delivered all documents attached to the R&W Insurance Policy or as otherwise may be required by the R&W Insurer in connection with: (a) binding coverage under the terms of the R&W Insurance Policy on the date of this Agreement and (b) issuing the final R&W Insurance Policy. The R&W Insurance Policy shall include a provision whereby insurer expressly irrevocably waives, and agrees not to pursue, directly or indirectly, any subrogation rights against the Sellers or any of their Affiliates or representatives with respect to any claim made by any insured thereunder unless such claims were the result of fraud prior to the Closing by any Seller or any of its Affiliates or representatives. The Sellers shall use commercially reasonable efforts to assist and cooperate with the Buyers in connection with any claim by any Buyer under, or recovery by any Buyer with respect to, the R&W Insurance Policy. Buyers shall not take affirmative action to amend the subrogation or third party beneficiary provisions contained in such R&W Insurance Policy benefiting any Seller without the consent of such Seller. (b) Notwithstanding any other provision of this Agreement, the Sellers, jointly and severally, shall reimburse and indemnify Buyers and their respective Affiliates, directors, officers, managers, members, employees and agents for any and all loss, liability, demand, claim of any kind, action, cause of action, cost, damage, fee, deficiency, tax, penalty, fine, assessment, interest or expense (including attorney’s fees, consultant fees, expert fees and any other reasonable fees including the reasonable fees, costs, charges and expenses of attorneys, accountants, brokers, consultants and/or other experts and/or other professionals in each case at their then-prevailing rates) arising out of or resulting from a breach of the representations and warranties in Article III of this Agreement up to an aggregate amount not to exceed $3,300,000.00 (being an amount representing one-half of the initial retention amount under the R&W Insurance Policy). Sellers’ obligation in this Section 10.23(b) shall remain in full force and effect until the latest of 45 days after the expiration of the R&W Insurance Policy, 60 days after all pending claims under the R&W Insurance Policy are fully and finally resolved, or the satisfaction in full of all outstanding obligations of the Sellers under this Section 10.23(b).

  • Fire Insurance The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE's use of the premises.

  • Other Insurance Policies No action, inaction or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any applicable special hazard insurance policy, PMI Policy or bankruptcy bond, irrespective of the cause of such failure of coverage. In connection with the placement of any such insurance, no commission, fee, or other compensation has been or will be received by Seller or by any officer, director, or employee of Seller or any designee of Seller or any corporation in which Seller or any officer, director, or employee had a financial interest at the time of placement of such insurance.

  • Insurance Company The Buyer is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a State, territory or the District of Columbia.

  • Pool Insurance Compliance Notwithstanding any other provision of this Agreement, the Servicer shall at all times comply with all applicable Pool Insurance policy requirements so as to assure the full benefit of such Pool Insurance policy to the Trustee.

  • Group Insurance All employees covered by this Agreement shall receive the same group insurance benefits as provided to other County employees in accordance with the County Benefit Program.

  • Retiree Insurance Retired employees and their dependents shall be entitled to continued coverage under the district sponsored group health insurance program, provided the retired employee makes written application with the clerk of the board of education for such continued coverage within thirty (30) days following the retirement of the employee. Retired employees electing continued coverage shall be required to make the monthly premium payment for such continued coverage in advance of the due date of the premium to the carrier. The premium amount will be determined by the carrier. Such payment shall be made to the Board of Education or directly to the insurance carrier, as may be determined by the board. The coverage under the group health-care benefits will cease at such time as (1) the retired employee attains eligibility for Medicare, (2) the retired employee fails to make the required premium payments on a timely basis, or (3) the retired employee becomes covered or is eligible to be covered under a group plan of another employer. For purposes of this provision, retired means those employees who have terminated employment and are receiving a retirement or disability benefit from K.P.E.R.S.

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

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