Approved Insurer definition

Approved Insurer. Each insurance policy shall be issued by insurance companies authorized to do business in the State of Nevada or eligible surplus lines insurers under federal and Nevada law and having agents in Nevada upon whom service of process may be made, and currently rated by A.M. Best as “A-VII” or better.

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Approved Insurer means any insurer (other than Medicaid/Medicare/TRICARE) as may be approved by Administrative Agent from time to time in its sole discretion.

Approved Insurer means an authorised insurer who—

Examples of Approved Insurer in a sentence

• If any of the Borrower's insurers shall at any time cease to be an Approved Insurer, then within thirty (30) days after notice from the Lender to the Borrower, the Borrower will obtain replacement Insurance or additional Insurance issued by one or more other Approved Insurers.

• The Borrowers will and will cause each applicable Approved Insurer to maintain a rating of B+ or better with AM Best or a similar rating agency throughout the term of this Agreement.

• LESSEE will cause such Approved Insurer to agree to hold all insurance contracts and slips for the benefit of the Indemnitees and to advise the Indemnitees in writing at least thirty (30) days (seven (7) days in the case of any war risk and allied perils coverage and ten (10) days in the event of nonpayment of premium) prior to the non-renewal, termination, or cancellation for any reason (including, without limitation, failure to pay premiums therefor) of any such insurance.

• LESSEE will cause such Approved Insurer, identified to and reasonably acceptable to LESSOR, to agree to hold all insurance contracts and slips for the benefit of LESSOR and to advise LESSOR in writing at least thirty (30) days (seven (7) days in the case of any war risk and allied perils coverage) prior to the non-renewal, termination, or cancellation for any reason (including, without limitation, failure to pay premiums therefor) of any such insurance.

• Not less than three (3) Business Days prior to the Effective Date, and thereafter on each renewal by the LESSEE of the insurance required hereby, LESSEE will furnish to LESSOR a certificate executed and delivered by an Approved Insurer, appointed by LESSEE, describing in reasonable detail, and in accordance with customary practice, insurance carried on the Aircraft and certifying that the insurance then maintained on the Aircraft complies with the terms of this Lease.

More Definitions of Approved Insurer

Approved Insurer means an insurer approved by the Assessor for the purposes of this Act and such an approval may specify named insurers or classes of insurers which are to be treated as approved;54

Approved Insurer means an insurer approved by the Insurance and Superannuation Commissioner under the Insurance Act 1973 (Cwlth).

Approved Insurer means an insurer that is APRA endorsed and/or AAA rated by Standard & Poors

Approved Insurer means an insurer licensed under the Insurance Law, 2010 as a Class “A” insurer and approved by the Commission to provide standard health insurance contracts;

Approved Insurer means LSIC, any other Regulated Insurance Company which is an Affiliate of the Borrowers, or another insurer approved by the Administrative Agent, in each case, with a rating of B+ or better by A.M. Best or a similar rating agency (and with respect to any other approved insurer, such insurer has entered into a trust agreement similar to the Trust Agreement and has pledged its interest in such trust in a manner satisfactory to the Administrative Agent).

Approved Insurer means any reputable and financially sound insurance company or insurance broker, in the U.S., London, French, German or Japanese insurance markets, that provides or confirms the existence of any insurance required under this Lease.

Approved Insurer means each Person identified on Schedule 1.1A and any Insurer or other Person (other than Medicaid, Medicare or TRICARE), in each case, as may be approved by Administrative Agent in good faith and in its exercise of reasonable (from the perspective of a secured asset-based lender in the context of a HUD transaction) business judgment.