Affiliated Insurers definition
Examples of Affiliated Insurers in a sentence
All accounting terms not specifically defined herein with respect to Affiliated Insurers or with respect to the business of insurance shall be construed on a Statutory Accounting Basis (unless otherwise herein specified).
With respect to the Borrower and its Subsidiaries, the Affiliated Insurers shall not retain any risk that is not covered by such agreements with Unaffiliated Insurers.
Maintain as to DGC at all times hereafter, commencing December 31, 2002, a minimum capital surplus (including surplus notes) of all Affiliated Insurers on a combined GAAP basis of not less than Forty-Five Million Dollars ($45,000,000.00), increased by the amount of any capital surplus realized from Borrower's and/or DGC's closing of the Junior Facility.
Prior to the execution of the Fifth Loan Agreement, Borrower requested that FTBNA, Hibernia and Dresdner commit to make advances to it on a revolving credit basis in an amount not to exceed at any one time outstanding the aggregate principal sum of Seventy-Five Million Dollars ($75,000,000.00) to enable it to finance premiums due on insurance contracts (including those written by Affiliated Insurers now existing or thereafter acquired or created).
Each of Borrower, DGC, the Agency Subsidiaries and the Affiliated Insurers is a corporation duly organized, validly existing and in good standing under the laws of the State of its incorporation, as set out in the initial paragraph of this Loan Agreement; each has the power and authority to own its properties and assets and is duly qualified to carry on its business in every jurisdiction wherein such qualification is necessary.
Each of Borrower, the Guarantors and Affiliated Insurers is in material compliance with all applicable provisions of the Employees Retirement Income Security Act of 1974 ("ERISA") and all other laws, state or federal, applicable to any employees' retirement plan maintained or established by it.
Maintain, preserve, and protect all leases, franchises, and trade names and preserve all the remainder of the properties used or useful in the conduct of the business of Borrower, the Guarantors and Affiliated Insurers substantially as conducted and operated during the present and preceding fiscal year (subject to normal wear and tear), so that the business carried on in connection therewith may be properly conducted at all times.
Each of Borrower, the Guarantors and Affiliated Insurers possesses all patents, trademarks, trade names, copyrights, and licenses necessary to the conduct of its business.
Prior to the execution of the Fourth Loan Agreement, Borrower requested that FTBNA, Hibernia and Dresdner commit to make advances to it on a revolving credit basis in an amount not to exceed at any one time outstanding the aggregate principal sum of Fifty Million Dollars ($50,000,000.00) to enable it to finance premiums due on insurance contracts (including those written by Affiliated Insurers then existing or thereafter acquired or created).
Permit any person designated by any Bank, at that Bank's expense, to visit and inspect any of the properties, books and financial reports of the Borrower, the Guarantors and Affiliated Insurers, and to discuss their affairs, finances and accounts with their principal officers, at all such reasonable times and as often as such Bank may reasonably request.