Minimum Cash. Borrower shall cause the Insurance Company Subsidiary to maintain statutory capital and surplus at all times of not less than the greater of (i) required by the Insurance Company Subsidiary or (ii) 110% of the highest capital and surplus required in any state in which the Insurance Company Subsidiary is licensed.
Appears in 3 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Trupanion Inc.), Loan and Security Agreement (Trupanion Inc.)
Minimum Cash. Borrower Borrowers shall cause the Insurance Company Subsidiary to maintain statutory capital and surplus at all times of not less than the greater of (i) the amount required by the Insurance Company Subsidiary or (ii) 110% of the highest capital and surplus required in any state in which the Insurance Company Subsidiary is licensed, and Borrowers shall in addition maintain an additional unrestricted, non-insurance, cash balance of at least $1,000,000.
Appears in 2 contracts
Samples: Credit Agreement (Trupanion Inc.), Credit Agreement (Trupanion Inc.)
Minimum Cash. Borrower Borrowers shall cause the Insurance Company Subsidiary to maintain statutory capital and surplus at all times of not less than the greater of (i) the amount required by the Insurance Company insurance Subsidiary or (ii) 110% of the highest capital and surplus required in any state in which the Insurance Company Subsidiary is licensed, and Borrowers shall in addition maintain an additional unrestricted, non-insurance, cash balance of at least $1,000,000.
Appears in 1 contract
Samples: Credit Agreement (Trupanion Inc.)