Best's Insurance Guide definition

Best's Insurance Guide or "Best's Key Rating Guide."
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Best's Insurance Guide. Neither party shall do or permit to be done anything which shall invalidate the insurance policies referred to in this Article 10. With respect to insurance required of the parties hereunder, the party undertaking to obtain such insurance (the "Insuring Party") shall cause to be delivered to the other party (the "Non-Insuring Party") certified copies of policies of insurance or certificates evidencing the existence and amounts of such insurance with the insureds and loss payable clauses as required by this Lease. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice from the Insuring Party to the Non- Insuring party. The Insuring Party shall, at least fifteen (15) days prior to the expiration of such policies, furnish the Non-Insuring Party with evidence of renewals or "insurance binders" evidencing renewal thereof, or else the Non- Insuring may order such insurance and charge the cost thereof to the Insuring Party, which amount shall be payable upon demand. If an Insuring Party shall fail to procure and maintain the insurance required to be carried by it under this Article 10, the Non-Insuring Party may, but shall not be required to, procure and maintain such insurance, but at the Insuring Party's expense.
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Best's Insurance Guide as possessing a minimum policy holder’s rating of “A” and a financial category no lower than “VIII” ($100 million to $250 million of adjusted policy holder’s surplus). The policies required of Tenant above (other than workers’ compensation) shall name Landlord, as an additional insured on a primary and non-contributory basis. The policies required of Landlord above (other than workers’ compensation) shall name Tenant, as an additional insured on a primary and non-contributory basis. Such insurance may be obtained by either party by endorsement on its blanket insurance policies, provided that (i) such blanket policies satisfy the requirements specified herein and (ii) the other party shall be furnished with the certificate of the insurer to the effect that the amount of insurance allocable to the Demised Premises and Improvements, with respect to Tenant, and to the Landlord Premises, with respect to Landlord, is not less than the amount required by this paragraph and (iii) the protection afforded Tenant, or Landlord, as applicable, is not less than the protection which would have been afforded under a separate policy or policies relating only to the Demised Premises, or Landlord Premises, as applicable. Neither party shall be required to prosecute any claim against any insurer or to contest any settlement proposed by any insurer, provided that the either party may, at its cost and expense, prosecute any such claim or contest any such settlement, and in such event such prosecuting party may bring any such prosecution or contest in the name of Landlord, Tenant, or both, and the other party shall cooperate with the prosecuting party and will join therein at the prosecuting party’s written request upon receipt by such party of an indemnity from the prosecuting party against all costs, liabilities, and expenses in connection with such cooperation, prosecution, or contest.
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Examples of Best's Insurance Guide in a sentence

  • Insurance required herein shall be by companies duly licensed or admitted to transact business in the state where the Premises are located, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by a Lender.

  • Insurance required hereunder shall be in companies duly licensed to transact business in the state where the Premises are located, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, or such other rating as may be required by a Lender, as set forth in the most current issue of "Best's Insurance Guide." Lessee shall not do or permit to be done anything which shall invalidate the insurance policies referred to in this Paragraph 8.

  • Insurance required hereunder shall be in companies duly licensed to transact business in the state where the Premises are located, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, or such other rating as may be required by a Lender having a lien on the Premises, as set forth in the most current issue of "Best's Insurance Guide." Lessee shall not do or permit to be done anything which shall invalidate the insurance policies referred to in this Paragraph 8.

  • Insurance required hereunder shall be in companies holding a "General Policyholders Rating" of at least B plus, or such other rating as may be required by a lender having a lien on the Premises, as set forth in the most current issue of "Best's Insurance Guide".

  • All such insurance policies carried by Tenant shall be with companies having a rating of not less than A-VIII in Best's Insurance Guide.

  • Insurance required hereunder shall be in companies holding a "General Policyholders Rating" of at least B plus, or such other rating as may be required by a lender having a lien on the Premises, as set forth in the most current issue of "Best's Insurance Guide." Lessee shall not do or permit to be done anything which shall invalidate the insurance policies carried by Lessor.

  • Insurance required herein shall be by companies maintaining during the policy term a "General Policyholders Rating" of at least A-, VII, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by a Lender.

  • The Bonds required hereunder shall be executed by a responsible surety licensed in the State of Florida, and have at least the following minimum qualification in accordance with the latest edition of A.M. Best's Insurance Guide, published by ▇▇▇▇▇▇ ▇.

  • The insurance shall be with insurers approved by Lessor, provided, however, that such approval shall not be unreasonably withheld so long as Lessee's insurance carrier has a Best's Insurance Guide rating not less than A+ VIII.

  • All policies of insurance and all renewals thereof shall be approved as to form and sufficiency by ▇▇▇▇▇▇▇▇'s Risk Manager and shall be issued by good and responsible companies qualified to do and doing business in California and rated A+: XIII or better in the most recent version of Best's Insurance Guide.


More Definitions of Best's Insurance Guide

Best's Insurance Guide. Tenant shall deliver to RDA, prior to entering upon the Suite, original certificates evidencing the existence and amounts of such insurance.
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Best's Insurance Guide. Tenant shall not do or permit to be done anything which shall invalidate the insurance policies referred to in this Paragraph 7. The insuring party shall cause to be delivered to the other party certified copies of, or certificates evidencing the existence and amounts of, the insurance, and with the additional insureds, required hereunder. No such policy shall be cancelable or subject to modification except after thirty (30) days' prior written notice to the non-insuring party. The insuring party shall at least thirty (30) days prior to the expiration of such policies, furnish the non-insuring party with evidence of renewals or "insurance binders" evidencing renewal thereof, or, if the Landlord is the non-insuring party, the Landlord may order such insurance and charge the cost thereof to Tenant.
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Related to Best's Insurance Guide

  • Blanket insurance policy means a group policy covering a defined class of

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.