Ratings of Insurers. Borrower shall maintain insurance coverage with one or more domestic primary insurers reasonably acceptable to Administrative Agent, having claims-paying-ability and financial strength ratings by S&P of not less than “A-” (and its equivalent by the other Rating Agencies); provided, however, such rating requirements will deemed to be satisfied if (A) the required insurance is provided by a syndicate of five (5) or more insurers with (i) at least sixty percent (60%) of the total coverage under such policies provided by carriers having claims-paying-ability and financial strength ratings by S&P of not less than “A-” (and its equivalent by the other Rating Agencies), (ii) at least thirty percent (30%) of the total coverage under such policies provided by carriers having claims-paying-ability and financial strength ratings by S&P of not less than “BBB+” (and its equivalent by the other Rating Agencies) (without duplication with the carriers having ratings by S&P of not less than “A-” (and its equivalent by the other Rating Agencies)), and (iii) the remaining ten percent (10%) of the total coverage under policies provided by carriers having an AM Best Rating of at least “A-VIII” (without duplication with the carriers having ratings by S&P of not less than “A-” or “BBB+” (and their equivalents by the other Rating Agencies)); or (B) the required insurance is provided by a syndicate of four (4) or fewer insurers with (i) at least seventy-five percent (75%) of the total coverage under such policies provided by carriers having claims-paying-ability and financial strength ratings by S&P of not less than “A-” (and its equivalent by the other Rating Agencies), (ii) at least fifteen percent (15%) of the total coverage under such policies provided by carriers having claims-paying-ability and financial strength ratings by S&P of not less than “BBB+” (and its equivalent by the other Rating Agencies) (without duplication with the carriers having ratings by S&P of not less than “A-” (and its equivalent by the other Rating Agencies)), and (iii) the remaining ten percent (10%)of the total coverage under policies under such policies provided by carriers having an AM Best Rating of at least “A-VIII (without duplication with the carriers having ratings by S&P of not less than “A-” or “BBB+” (and their equivalents by the other Rating Agencies)). Seismic Insurance required pursuant to Section 6.1.11 shall not be required to satisfy the foregoing rating requirements, provided that su...
Ratings of Insurers. Borrower shall maintain the insurance coverage described in Section 6.1.2 through Section 6.1.10 above, in all cases, with one or more domestic primary insurers reasonably acceptable to Lender, having both claims-paying-ability and financial strength ratings by S&P of not less than “A” and its equivalent by the other Rating Agencies. The Borrower will maintain the insurance coverage described in Section 6.1.1 above with one or more domestic primary insurers reasonably acceptable to Lender, (a) having a claims-paying-ability and financial strength ratings by S&P of not less than “A” and its equivalent by the other Rating Agencies with respect to the first $200,000,000 of coverage and (b) having a claims-paying-ability and financial strength ratings by S&P of not less than “BBB” and its equivalent by the other Rating Agencies (or, if not rated by any of the Rating Agencies, an Xxxxxx X. Best Company, Inc. rating of “A+” or better and a financial size category of not less than “X”) with respect to the balance of coverage. All insurers providing insurance required by this Agreement shall be authorized to issue insurance in the State.
Ratings of Insurers. Borrower shall maintain the insurance coverage described in Section 6.1.1 through Section 6.1.8 above, in all cases, with one or more insurers having a claims-paying-ability and financial strength ratings by S&P of not less than "BBB" and its equivalent by the other Rating Agencies (provided that the primary provider of insurance and at least 75% of all insurers shall have a financial strength rating by S&P of not less than "A-") or otherwise acceptable to Lender in its sole discretion. All insurers providing insurance required by this Agreement shall be authorized to issue insurance in the State.
Ratings of Insurers. Borrower shall maintain the insurance coverage described in Section 6.1.1 through Section 6.1.10, in all cases, with one or more domestic primary insurers reasonably acceptable to Lender, having both (x) claims-paying-ability and financial strength ratings by S&P of not less than “A” and its equivalent by the other Rating Agencies, provided that, with respect to any layered or quota share insurance policy for the insurance that is issued by more than five (5) insurers, the requirements of this clause (x) will be satisfied if at least sixty percent (60%) of the limits provided shall be with insurers that meet such claims-paying-ability and financial strength ratings, and (y) an Xxxxxx X. Best Company, Inc. (Best) rating of “A” or better and a financial size category of not less than “X”, provided that, with respect to any layered or quota share insurance policy for the insurance that is issued by more than five (5) insurers, the requirements of this clause (y) will be satisfied if at least sixty percent (60%) of the limits provided shall be with insurers that meet such rating and financial size category standards. All insurers providing insurance required by this Agreement shall be authorized to issue insurance in the State.
Ratings of Insurers. Borrower shall maintain the insurance coverage described in Section 6.1.1 through Section 6.1.11, in all cases, with one or more domestic primary insurers reasonably acceptable to Lender, having claims-paying-ability and financial strength ratings by S&P of not less than “A” and its equivalent by the other Rating Agencies, provided that, with respect to any layered or quota share insurance policy for the insurance that is issued by more than five (5) insurers, the requirements of this clause (x) will be satisfied if at least sixty percent (60%) of the limits provided shall be with insurers that meet such claims-paying-ability and financial strength ratings. All insurers providing insurance required by this Agreement shall be authorized to issue insurance in the State.
Ratings of Insurers. Borrower shall maintain the insurance coverage described in Section 6.1 above, in all cases, with one or more financially sound and responsible insurance companies authorized to do business in the State and having a claims paying ability rating of “A” or better by S&P, provided that if five (5) or more insurance companies issue any of the policies required hereunder, and at least sixty percent (60%) of the applicable insurance coverage is provided by insurance companies having a claims paying ability of “A” or better (and the equivalent thereof), then the remaining forty percent (40%) or less of the applicable insurance coverage required hereunder may be provided by insurance companies having a claims paying ability of “BBB” or better (and the equivalent thereof).
Ratings of Insurers. Borrower (or in the case of the Maryland Property, Maryland Loan Guarantor) shall maintain the insurance coverage described in Section 6.1.1 through Section 6.1.10 above, in all cases, with one or more domestic primary insurers reasonably acceptable to Lender, having both (x) claims-paying-ability and financial strength ratings by S&P of not less than “A” and its equivalent by the other Rating Agencies and (y) an Xxxxxx X. Best Company, Inc. rating of “A-” or better and a financial size category of not less than “X.” All insurers providing insurance required by this Agreement shall be authorized to issue insurance in the State.
Ratings of Insurers. Borrower shall, and shall cause the Borrowing Base Entities to, maintain the insurance coverage described in Section 1.1.1 through Section 1.1.8 of this Schedule XVIII above, in all cases, with one or more domestic primary insurers reasonably acceptable to Administrative Agent, having (x) claims-paying-ability and financial strength ratings by S&P of not less than “A-. All insurers providing insurance required by this Agreement shall be authorized to issue insurance in the applicable jurisdiction, provided, however, if the insurance provided pursuant to Sections 1.1.1 and 1.1.4 of this Schedule XVIII is procured by a syndication of more then five (5) insurers then the foregoing requirements shall not be violated if such insurance is provided (a) under a blanket policy and at least sixty percent (60%) of the overall limits of insurance in place on the date hereof and thereafter is with carriers having a claims paying ability rating of “A-” or better, with the primary layer provided by a carrier rated “A-” or better, and the other carriers having a claims paying ability rating of “BBB” or better by S&P and its equivalent by one other Rating Agency; Administrative Agent may allow up to 10% of the overall limits of insurance, except for the primary layer, to be unrated or rated below “BBB” provided it is rated at least “A-” or better by AM Best Company with a financial size category of not less than “VIII”.
Ratings of Insurers. Grantor will maintain the insurance ------------------- coverage described in Section 5(a) above, in all cases, with one or more ------------ domestic primary insurers acceptable to Beneficiary, having both (x) a claims- paying-ability rating by Standard & Poor's Ratings Services of not less than "AA" and its equivalent by any other Rating Agency, and (y) an Xxxxxx X. Best Company, Inc. ("Best") rating of "A" or better and a financial size category of ---- not less than IX. All insurers providing insurance required by this Mortgage shall be authorized to issue insurance in the state where the Property insured is located. For the purposes hereof, "Maximum Foreseeable Casualty Loss" shall --------------------------------- mean the estimate of a qualified fire protection engineer in connection with Grantor's existing insurance package of the maximum probable casualty loss which would be suffered in respect of the Improvements and Building Equipment for any Property as a result of damage caused by the perils covered by the insurance described in Section 59(a)(i). ---------------- The insurance coverage required under Section 5(a) may be effected ---------- under a blanket policy or policies covering the Trust Estate and other properties and assets not constituting a part of the Trust Estate; provided that any such blanket policy shall specify, except in the case of public liability insurance, the portion of the total coverage of such policy that is allocated to the Trust Estate, and any sublimits in such blanket policy applicable to the Trust Estate, which amounts shall not be less than the amounts required pursuant to Section 5(a) and which shall in any case comply in all other respects with ------------ the requirements of this Section 5. ---------
Ratings of Insurers. Borrower will maintain the insurance coverage described in Section 6.1.1 through Section 6.1.8 above, in all cases, with one or more domestic primary insurers reasonably acceptable to Lender, having both (x) claims-paying-ability and financial strength ratings by S&P of not less than "AA" and its equivalent by any other Rating Agency, and (y) an Xxxxxx X. Best Company, Inc. ("BEST") rating of "A" or better and a financial size category of not less than "X". All insurers providing insurance required by this Agreement shall be authorized to issue insurance in the State.
