Acceptable Carriers definition

Acceptable Carriers. All insurance carriers participating on all layers evidencing the required coverage must carry an AM Best Financial Strength Rating (FSR) of A- and a Financial Size Category (FSC) of IX during the entire life of the loan. Carriers not rated by AM Best must be approved on an individual basis. Carriers must be licensed to conduct business in the state where the property is located. Risk Retention Groups (RRG’s) and Risk Purchasing Groups (RPG’s) will not be accepted unless approved in writing by PPM. All insured locations on the policy must have some common ownership to a single Borrower, Sponsor, or Parent. PROPERTY INSURANCE REQUIREMENTS:
Sample 1Sample 2
Acceptable Carriers. All insurance carriers providing primary coverages and/or participating in layers evidencing coverage must carry an A.M. Best Financial Strength Rating (FSR) of A- and a Financial Size Category (FSC) of IX during the entire life of the loan. Carriers with lesser Strength or Size, or carriers not rated by A.M. Best, must be pre-approved prior to closing. Carriers must be licensed to conduct business in the state where the property is located. 11187841_2.doc
Sample 1Sample 2
Acceptable Carriers. All insurance carriers providing primary coverages and/or participating in layers evidencing coverage must carry an A.M. Best Financial Strength Rating (FSR) of A- and a Financial Size Category (FSC) of IX during the entire life of the loan. Carriers with lesser Strength or Size, or carriers not rated by A.M. Best, must be pre-approved prior to closing. Carriers must be licensed to conduct business in the state where the property is located. Risk Retention Groups (RRG’s) and Risk Purchasing Groups (RPG’s) will not be accepted unless approved in writing by PPM. All insured locations on the policy must have some common ownership to a single Borrower, Sponsor, or Parent.
Sample 1

Related to Acceptable Carriers

  • Acceptable Waste means ordinary household, municipal, institutional, commercial and industrial Solid Waste including, but not limited to, the following:

  • Acceptable Flag Jurisdiction means the Bahamas, Bermuda, Panama, the Xxxxxxxx Islands, the United States or such other flag jurisdiction as may be acceptable to the Required Lenders in their reasonable discretion.

  • Accepted Servicing Practices With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Unacceptable Waste means all waste not authorized for disposal at the Columbia Ridge Landfill and Recycling Center or successor site designated by the City, by those governmental entities having jurisdiction or any waste the disposal of which would constitute a violation of any governmental requirement pertaining to the environment, health or safety. Unacceptable Waste includes any waste that is now or hereafter defined by federal law or by the disposal jurisdiction as radioactive, dangerous, hazardous or extremely hazardous waste and vehicle tires in excess of those permitted to be disposed of by the laws of the disposal jurisdiction.

  • Acceptable Collateral means any of the following assets of Borrower, if (x) held in or credited to any Collateral Account subject to a first priority Lien under the applicable Security Agreement and (y) the Collateral Requirement has been satisfied with respect thereto:

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Approved Vendor means a person who has been approved for inclusion on an

  • Carrier means a person engaged in the transportation of passengers or property by land or water as a common, contract, or private carrier, or by civil aircraft.

  • Qualified vendor means a vendor who:

  • Approved Valuer means a firm of valuers recognized as such by the Income Tax Department and having experience of valuing at least 5 (five) properties exceeding Rs. 100 cr. (Rupees one hundred crore) each in value;

  • Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

  • Acceptable Use Policy means the policy located at xxxx://xxx.xxxxxx.xxx/aup (and any successor or related locations designated by us), as it may be updated by us from time to time.

  • Required Insurances means collectively the Project Facility Insurances and the Contractor Insurances.

  • Contract carrier means any person who, under special and individual contracts or agreements, and

  • Professional service means a type of personal service to the public that requires that the provider obtain a license or other legal authorization as a condition precedent to providing that service. Professional service includes, but is not limited to, services provided by a certified or other public accountant, chiropractor, dentist, optometrist, veterinarian, osteopathic physician, physician, surgeon, podiatrist, chiropodist, physician's assistant, architect, professional engineer, land surveyor, or attorney-at-law.