Insurance Reports and Filings. (i) By no later than the following dates, a copy of each Statutory Statement filed, or required to be filed, by each Regulated Insurance Company: (A) in the case of annual Statutory Statements, (1) upon the earlier of (x) fifteen (15) days after the regulatory filing date or (y) seventy-five (75) days after the close of each fiscal year of such Regulated Insurance Company, in each case such Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared in accordance with SAP and (2) no later than each June 15, copies of such Statutory Statements audited and certified by independent certified public accountants of recognized national standing. (B) in the case of quarterly Statutory Statements, upon the earlier of (x) ten (10) days after the regulatory filing date or (y) fifty (50) days after the close of each of the first three (3) fiscal quarters of each fiscal year of such Regulated Insurance Company, in each case such Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared in accordance with SAP. (ii) Promptly following the delivery or receipt, as the case may be, by any Regulated Insurance Company or any of their respective Subsidiaries, copies of (A) each registration, filing or submission made by or on behalf of any Regulated Insurance Company with any Applicable Insurance Regulatory Authority, except for policy form or rate filings, (B) each examination and/or audit report submitted to any Regulated Insurance Company by any Applicable Insurance Regulatory Authority, (C) all information which the Lenders may from time to time reasonably request with respect to the nature or status of any deficiencies or violations reflected in any examination report or other similar report, and (D) each report, order, direction, instruction, approval, authorization, license or other notice which the Borrower or any Regulated Insurance Company may at any time receive from any Applicable Insurance Regulatory Authority, in each of (A) through (D) that is material to the Borrower and its Subsidiaries, taken as a whole, as reasonably determined by the board of directors of the Borrower, a duly authorized committee thereof or a Responsible Officer of the Borrower. (iii) Promptly following notification thereof from a Governmental Authority, notification of the suspension, limitation, termination or non-renewal of, or the taking of any other materially adverse action in respect of, any material Insurance License.
Appears in 3 contracts
Samples: Credit Agreement (Amtrust Financial Services, Inc.), Credit Agreement (Amtrust Financial Services, Inc.), Credit Agreement (Amtrust Financial Services, Inc.)
Insurance Reports and Filings. (i) By no later than the following dates, a copy of each annual Statutory Statement filed, or required to be filed, by each Regulated Insurance Company:
(A) in the case of annual Statutory Statements, : (1) upon the earlier of (x) fifteen (15) days after the regulatory filing date (after giving effect to any extension of such regulatory filing date obtained from, or granted by, any Applicable Insurance Regulatory Authority) or (y) seventy-five (75) days after the close of each fiscal year of such Regulated Insurance Company, in each case with such Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared in accordance with SAP SAP, and (2) no later than each June 15, copies of such Statutory Statements audited and certified by independent certified public accountants of recognized national standing.
(B) in the case of quarterly Statutory Statements, upon the earlier of (x) ten (10) days after the regulatory filing date or (y) fifty (50) days after the close of each of the first three (3) fiscal quarters of each fiscal year of such Regulated Insurance Company, in each case such Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared in accordance with SAP.
(ii) Promptly following the delivery or receipt, as the case may be, by any Regulated Insurance Company or any of their respective Subsidiaries, copies of (A) each registration, filing or submission made by or on behalf of any Regulated Insurance Company with any Applicable Insurance Regulatory Authority, except for policy form or rate filings, (B) each examination and/or audit report submitted to any Regulated Insurance Company by any Applicable Insurance Regulatory Authority, (C) all information which the Lenders may from time to time reasonably request with respect to the nature or status of any deficiencies or violations reflected in any examination report or other similar report, and (D) each report, order, direction, instruction, approval, authorization, license or other notice which the Borrower or any Regulated Insurance Company may at any time receive from any Applicable Insurance Regulatory Authority, in each of (A) through (D) that is material to the Borrower and its Subsidiaries, taken as a whole, as reasonably determined by the board Board of directors Directors of the Borrower, a duly authorized committee thereof or a Responsible Officer of the Borrower.
(iii) Promptly following notification thereof from a Governmental Authority, notification of the suspension, material limitation, termination or non-renewal of, or the taking of any other materially adverse action in respect of, any material Insurance License.
Appears in 2 contracts
Samples: Credit Agreement (Amtrust Financial Services, Inc.), Credit Agreement
Insurance Reports and Filings. (i) By no later than the following dates, a copy of each Statutory Statement filed, or required to be filed, by each Regulated Insurance Company:
(A) in the case of annual Statutory Statements, (1) upon the earlier of (x) fifteen (15) days after the regulatory filing date or (y) seventy-five ninety (7590) days after the close of each fiscal year of such Regulated Insurance Company, in each case such Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared in accordance with SAP and (2) no later than each June 15, copies of such Statutory Statements audited and certified by independent certified public accountants of recognized national standing.
(B) in the case of quarterly Statutory Statements, upon the earlier of (x) ten (10) days after the regulatory filing date or (y) fifty sixty (5060) days after the close of each of the first three (3) fiscal quarters of each fiscal year of such Regulated Insurance Company, in each case such Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared in accordance with SAP.
(ii) Promptly following the delivery or receipt, as the case may be, by any Regulated Insurance Company or any of their respective Subsidiaries, copies of (A) each registration, filing or submission made by or on behalf of any Regulated Insurance Company with any Applicable Insurance Regulatory Authority, except for policy form or rate filingsfilings and other ordinary course immaterial communications, (B) each examination and/or audit report submitted to any Regulated Insurance Company by any Applicable Insurance Regulatory Authority, (C) all information which the Lenders may from time to time reasonably request with respect to the nature or status of any deficiencies or violations reflected in any examination report or other similar report, and (D) each report, order, direction, instruction, approval, authorization, license or other notice which the Borrower or any Regulated Insurance Company may at any time receive from any Applicable Insurance Regulatory Authority, in each of (A) through (D) that is material to the Borrower and its Subsidiaries, taken as a whole, as reasonably determined by the board of directors of the Borrower, a duly authorized committee thereof or a Responsible Officer of the Borrower.
(iii) Promptly following notification thereof from a Governmental Authority, notification of the suspension, limitation, termination or non-renewal non‑renewal of, or the taking of any other materially adverse action in respect of, any material Insurance License.
Appears in 2 contracts
Samples: Credit Agreement (National General Holdings Corp.), Credit Agreement (Amtrust Financial Services, Inc.)
Insurance Reports and Filings. (i) By no later than the following dates, a copy of each Statutory Statement filed, or required to be filed, by each Regulated Insurance Company:
(A) in the case of annual Statutory Statements, (1) upon prompt written notice to the earlier Administrative Agent and each Lender of (x) fifteen (15) days after the regulatory filing date or (y) seventy-five (75) days after the close of each fiscal year of such Regulated failure by any Insurance Company, in each case such Subsidiary to file its Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared any statements referred to in accordance with SAP Section 4.4B or in Section 4.4C, and (2) no later than each June 15promptly following the request of the Administrative Agent or any Lender, copies a complete copy of any Statutory Statement and any statements referred to in Section 4.4B or in Section 4.4C to the Administrative Agent or such Statutory Statements audited and certified by independent certified public accountants of recognized national standing.Lender;
(Bb) in the case of quarterly Statutory Statements, upon the earlier of (x) ten (10) days after the regulatory filing date or (y) fifty (50) days after the close of each of the first three (3) fiscal quarters of each fiscal year of such Regulated Insurance Company, in each case such Statutory Statements being certified by a Financial Officer of such Regulated Insurance Company and prepared in accordance with SAP.
(ii) Promptly promptly following the delivery or receipt, as the case may be, by any Regulated Insurance Company Subsidiary or any of their respective Subsidiaries, copies of (A1) each registration, filing or submission made by or on behalf of any Regulated Insurance Company with any Applicable Insurance Regulatory Authority, except for policy form or rate filings, (B) each material examination and/or audit report or other similar report submitted to any Regulated Insurance Company Subsidiary by any Applicable Insurance Regulatory Authority, (C2) all material $1,100,000,000 CREDIT AGREEMENT information which the Lenders may from time to time reasonably request with respect to the nature or status of any material deficiencies or violations reflected in any examination such examination, report or other similar report, report and (D3) each registration, filing, submission, report, order, direction, instruction, approval, authorization, license or other notice which the Borrower or any Regulated Insurance Company Subsidiary may at any time make with, or receive from from, any Applicable Insurance Regulatory Authority, Authority except with respect to matters arising in each the ordinary course of (A) through (D) that is material to business of the Borrower and its Subsidiaries, taken as a whole, as reasonably determined by the board of directors of the Borrower, a duly authorized committee thereof or a Responsible Officer of the Borrower.such Insurance Subsidiary;
(iiic) Promptly promptly following the preparation thereof, any material report by an independent actuarial consulting firm reviewing the adequacy of loss reserves (net of reinsurance) of any Insurance Subsidiary, together with such firm's opinion affirming the adequacy of such loss reserves; and
(d) promptly following notification thereof from a Governmental Authority, notification and in any event not later than five (5) Business Days after receipt of such notice, written notice of the revocation, suspension, limitationtermination, termination or non-renewal or limitation of, or the taking of any other materially adverse action in respect of, any material Insurance License.;
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Samples: Credit Agreement (Assurant Inc)