Common use of Capital and Surplus Clause in Contracts

Capital and Surplus. AARe agrees that it shall cause, at all times during the term of this Agreement, AAIA to have and maintain minimum capital and surplus in an amount sufficient to satisfy the insurance laws of the State of New Jersey as of the Effective Date. AARe agrees that its undertaking provided herein shall be an absolute, unconditional and continuing obligation during the term of this Agreement. AARe and AAIA shall notify the Iowa Insurance Division anytime AARe is required to make a capital contribution to AAIA in accordance with the terms and conditions of this Section 1. 2.

Capital and Surplus. AARe AADE agrees that it shall cause, at all times during the term of this Agreement, AAIA to have and maintain minimum capital and surplus in an amount sufficient to satisfy the insurance laws of the State of New Jersey as of the Effective Date. AARe AADE agrees that its undertaking provided herein shall be an absolute, unconditional and continuing obligation during the term of this Agreement. AARe AADE and AAIA shall notify the Delaware Department of Insurance and Iowa Insurance Division anytime AARe AADE is required to make a capital contribution to AAIA in accordance with the terms and conditions of this Section 1. 2.