Best’s Key Rating Guide definition

Best’s Key Rating Guide for insurance companies or a rating of at least AAA as rated by Standard & Poor’s, (iv) such insurance coverage provided shall be endorsed to be primary to any and all insurance carried by Landlord, with Landlord’s insurance being excess, secondary and non-contributing, (v) Landlord, and provided Landlord delivers written notice to Tenant of the identity thereof, Landlord’s manager of the Building and all holders of a deed to secure debt or other such security instrument and the landlord under any underlying lease shall be an additional insured on all such policies, and (vi) all policies of liability insurance specified in this Lease shall specifically insure Tenant’s contractual liability under this Lease. Tenant shall also carry, at Tenant’s own cost and expense, such other insurance, in amounts and for coverages and on such other terms as Landlord may from time to time deem commercially reasonable and appropriate, provided that such coverages and amount are consistent with those being required of landlords of other comparable properties in the geographic area in which the Property is located. Tenant assumes all risk of loss of any or all of its personal property. Each of the foregoing policies shall require the insurance carrier to give at least thirty (30) days prior written notice (ten (10) days in the case of non-payment) to Landlord and to any mortgagee named in an endorsement thereto of any cancellation thereof, and each such policy shall be issued by an insurer and in a form satisfactory to Landlord. Tenant shall lodge with Landlord at or prior to the Commencement Date evidence of the insurance required hereunder acceptable to Landlord, together with evidence of paid-up premiums, which evidence shall include, if required by Landlord, a duplicate original of such commercial general liability insurance policy, certificates of insurance for Personal Property Insurance and such workers’ compensation insurance, and duplicate originals or certificates of such insurance that Landlord may require Tenant to carry from time to time, and shall lodge with Landlord renewals thereof at least fifteen (15) days prior to expiration.
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Best’s Key Rating Guide. 30 a certificate evidencing insurance required to be maintained by Tenant31 pursuant to this32 that each such policy is in full force and effect.
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Best’s Key Rating Guide or the equivalent in a substitute or successor publication selected by Landlord. All insurance policies shall: (i) in form and substance be reasonably satisfactory to Landlord, unless Tenant is a Credit Tenant in which case all insurance policies shall comply with each applicable provision of this Lease; (ii) be written as primary policy coverage, not contributing with, or in excess of any coverage carried by Landlord or another; (iii) name Landlord, any mortgagee and any other person designated by Landlord as additional insureds; (iv) except as otherwise provided for in Section 9.01 of this Article, contain in each policy covering loss or damage to property, an express waiver of the right of subrogation against Landlord; (v) contain a provision that although Landlord is named as an insured, it shall nevertheless be entitled to recover under the policy for any loss suffered as a result of the acts or omissions of the Tenant; and
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Examples of Best’s Key Rating Guide in a sentence

  • The policy issuer shall: (i) have a Certificate of Authority to transact insurance business in Texas; or (ii) be an eligible non-admitted insurer in the State of Texas and have a Best’s rating of at least B+, and a Best’s Financial Size Category of Class VI or better, according to the most current Best’s Key Rating Guide.

  • All insurance policies shall be issued by an insurance company currently authorized by the Insurance Commissioner to transact business of insurance or is on the List of Approved Surplus Line Insurers in the State of California, with an assigned policyholders’ Rating of A- (or higher) and Financial Size Category Class VII (or larger) in accordance with the latest edition of Best’s Key Rating Guide, unless otherwise approved by the City’s Risk Manager.

  • The Required Insurance shall be procured and maintained with insurers with an A- or better rating as determined by Best’s Key Rating Guide.

  • All coverage’s, except surety, shall be issued by companies which hold a current policy holder’s alphabetic and financial size category rating of not less than A- VII, according to the current Best’s Key Rating Guide or a company of equal financial stability that is approved by the County’s Purchasing Manager.

  • The Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located.

  • Insurance is to be placed with insurers authorized to conduct business in the State of California and with a current A.M. Best's rating of no less than A, as rated by the Current edition of Best’s Key Rating Guide, published by A.M. Best Company, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇.

  • Ratings for the financial strength of the companies providing Tenant’s insurance policies shall be disclosed in such certificates and shall be “A- VII” or stronger as published in the latest Best’s Key Rating Guide (or a comparable rating from a comparable rating service).

  • Each of the required insurance policies shall be with insurers qualified to do business in the State of New York, with an A- or better rating for financial condition and financial performance by Best’s Key Rating Guide, Property/Casualty Edition.

  • The Special Servicer shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Special Servicer shall not accept any such insurance policies from insurance companies unless such companies are rated B:VI or better in Best’s Key Rating Guide and are licensed to do business in the jurisdiction in which the Mortgaged Property is located.

  • All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord.


More Definitions of Best’s Key Rating Guide

Best’s Key Rating Guide of "A: VIII" or better or another comparable rating reasonably acceptable to Owner, considering market conditions.
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Related to Best’s Key Rating Guide

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.

  • Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating category given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exempt municipal debt established by S&P is “A 1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG 1” (for fixed rate) or “VMIG 1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (i) both S&P and Moody’s rate a Permitted Investment and (ii) one of those ratings is below the Highest Rating Category, then such Permitted Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, a Permitted Investment rated “AAA” by S&P and “Aa3” by Moody’s is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that Rating Agency, then the Permitted Investment will be deemed to be rated below the Highest Rating Category. For example, a Permitted Investment rated “AAA” by S&P and “A1” by Moody’s is not rated in the Highest Rating Category.

  • Debt Rating has the meaning specified in the definition of “Applicable Rate.”

  • Debt Ratings has the meaning set forth in the definition of “Applicable Rate.”

  • Index Debt Rating means the S&P Rating, the ▇▇▇▇▇’▇ Rating and the Fitch Rating.