Best Company ( definition
Best Company (. A: ▇▇▇▇" or better) or any insurance carrier backed or guaranteed by an insurer with such required ratings; provided, however, a rating by A.M. Best Company shall be disregarded and shall not be applicable as one of the two required ratings except with respect to a fidelity bond or errors and omissions insurance maintained by a Sub-Servicer and then only to the extent in force as of the Closing Date. Notwithstanding the preceding sentence, an insurance carrier with lower or fewer claims-paying ability ratings shall be deemed to have the "Required Claims-Paying Ratings" if the applicable Rating Agency has confirmed in writing that such insurance carrier shall not result, in and of itself, in a downgrading, withdrawal or qualification (if applicable) of the then current rating assigned by such Rating Agency to any Class of Certificates or Companion Loan Securities unless, with respect to policies maintained by borrowers, a higher claims-paying ability rating is required under any of the loan documents.
Best Company (. Best's Guide") of A or better and being in a financial size category of V or greater in Best's Guide (or a comparable rating and financial category in Best's Guide if Best's rating system or financial classification changes, or in any similar insurance guide selected if Best's Guide is no longer published) and, to the extent required for such insurance to be valid, licensed to do and doing business in the State of Texas. The limited partnership shall also furnish to the Co-General Partner from time to time upon the Co-General Partner's request, a certificate of insurance containing a statement of insurance of the limited partnership pursuant to this Agreement then in force and stating that the insurance then in force complies with the provisions of this Agreement and that the premiums thereon have been paid. The General Partner shall promptly notify the Co-General Partner of the cancellation or change of the terms of any such insurance policy.
Best Company (. Rating: A XV Premium: 2 State: TX COVERAGES: Combined Bodily Injury and Property Damage any $2,000,000 one accident of loss Personal Injury Protection $2,500 Medical Payments (each person) $5,000 Combined Limit for Uninsured and/or $1,000,000 underinsured Motorist (each accident) Limits Subject to Retrospective Rating per $75,000 Deductible Accident DOMESTIC AUTOMOBILE LIABILITY INSURANCE (VIRGINIA): Carrier Travelers Indemnity Company of Illinois Policy #: UC2J-CAP-582GO487-TIL-96 Expiration: September 1, 1997 A.M. Best Company Rating A XV Premium: --2 State: VA COVERAGE: Combined Bodily Injury and Property Damage any $2,000,000 oen accident or loss Medical Expense (each person) (Section 1) $5,000 Income Loss Benefits (Section 11) Statutory Uninsured Motorists $2,000,000 Limits Subject to Retrospective Rating per $75,000 Deductible Accident EXCESS AUTOMOBILE LIABILITY INDEMNITY POLICY-MASSACHUSETTS ONLY:
Examples of Best Company ( in a sentence
The properties of the Loan Parties are insured with an independent third-party insurer that is rated at least “A” by A.M. Best Company , in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable Loan Party operates.