Captive Insurance Company. Notwithstanding anything to the contrary set forth in this Section 5.1 the terrorism coverage may be issued by a captive insurance company wholly-owned and Controlled (directly or indirectly) by Borrower or their Affiliates (a “Captive Insurer”); provided that:
Captive Insurance Company. (a) Sell, assign, transfer, lease, or otherwise dispose of any asset to Supreme Insurance except in the ordinary course of business with respect to insurance matters between a Credit Party and Supreme Insurance (including, without limitation, payment to Supreme Insurance in the ordinary course of business of insurance premiums that are reasonable and customary and in accordance with Applicable Law), or, subject to Section 9.3, make any loan to or Investment in Supreme Insurance except for existing Investments outstanding on the Closing Date.
Captive Insurance Company. If during the Term Company elects to use a captive insurance company to fund any or all of its benefits plans Provider shall, as part of the Services, process payments in accordance with Company funding requirements, and otherwise cooperate with Company and the captive insurance company as required by Company, subject to delivery of reasonable written notice by Company to Provider of such an election. Details of any changes to the Services necessitated by Company's election to so use a captive insurance company shall be determined in accordance with the Change Control Procedures, and resulting changes to the Charges (if any) shall be determined in accordance with Section 2.14 if cooperation with the captive insurance company involves provision of New Services; provided, however, that Provider shall not have the right to decline to provide, or to delay in providing, such services.
Captive Insurance Company. (a) WM Mortgage Reinsurance Company (the “Captive Insurance Company”) is duly licensed as a class 2 captive insurance company in the State of Hawaii, such license is valid and in full force and effect and the Captive Insurance Company is not the subject of any pending or, to the Knowledge of Parent, threatened Proceeding for or contemplating the suspension, termination, modification, limitation, cancellation, revocation, nonrenewal or impairment of such license. The Captive Insurance Company is not licensed to do insurance business in or subject to the Insurance Laws of any jurisdiction other than the State of Hawaii.
Captive Insurance Company. Within ten (10) Business Days following the Amendment No. 2 Effective Date, the Company shall have terminated all purchases by YRC Assurances Co. Ltd. of Receivables under the Yellow Receivables Facility on terms and conditions reasonably satisfactory to the Administrative Agent. Within one (1) Business Day following the Amendment No. 2 Effective Date, the Company shall have begun the process of winding up, liquidating or dissolving YRC Assurances Co. Ltd., and such process (including receipt of all necessary approvals by all relevant Governmental Authorities) shall have been fully completed in all respects within thirty (30) days following the Amendment No. 2 Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), all on terms and conditions reasonably satisfactory to the Administrative Agent.
Captive Insurance Company. MFLTD is a Class B insurance company domiciled in the Cayman Islands. MFLTD possesses all Licenses necessary for the operation of its business as currently conducted and has sufficient unrestricted assets consistent with customarily applicable insurance accounting practices. MFLTD is in compliance in all material respects with all applicable Legal Requirements, including those related to the regulation of insurance in the Cayman Islands and any other jurisdiction in which MFLTD insures risk. MFLTD has obtained reinsurance in scope and amount customary for the risks assumed, and each reinsurance policy to which MFLTD is a party is set forth on Schedule 3.20. MFLTD has made available to WH a complete and accurate loss run for the previous three (3) years.
Captive Insurance Company. Symetra Reinsurance Corporation (the “Captive Insurance Company”) is duly licensed or authorized as a limited purpose life insurance subsidiary in the State of Iowa. The Captive Insurance Company is not licensed to do insurance business in or subject to the Insurance Laws of any jurisdiction other than the State of Iowa. Except as set forth in Section 4.32 of the Symetra Disclosure Letter, the Captive Insurance Company is not a party to any reinsurance treaty or agreement (the “Excess Reserve Financing Contracts”). To the Knowledge of Symetra, (i) no counterparty under any Excess Reserve Financing Contract is insolvent or the subject of a rehabilitation, liquidation, conservatorship, bankruptcy or similar proceeding and (ii) the financial condition of any such counterparty is not impaired to the extent that a default thereunder is reasonably anticipated. No notice of intended cancellation or termination has been received by Symetra or by any of the Symetra Subsidiaries from any such counterparty, and neither Symetra nor any of the Symetra Subsidiaries has received or delivered any notice of dispute under any such Excess Reserve Financing Contract, except as would not reasonably be expected to permit any such counterparty to terminate any such Excess Reserve Financing Contract or except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Since December 8, 2014, the Captive Insurance Company has timely filed all statements and reports, together with all exhibits, interrogatories, notes, actuarial opinions, affirmations, certifications, schedules or other material supporting documents in connection therewith, required to be filed by it with the applicable insurance regulatory authorities on forms prescribed or permitted by such insurance regulatory authorities, except for such failures to file which would not have had and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. All such statements and reports complied when filed with the requirements of applicable Laws, and no deficiencies have been asserted in writing by any insurance regulatory authorities with respect to such statements and reports that have not been remedied, except as would not, individually or in the aggregate, constitute a Material Adverse Effect.
Captive Insurance Company. Landlord consents to Tenant insuring the coverage required by this Article through pure captives ( collectively, the “Captive”) owned by the principals of Tenant or National HealthCare Corporation, which may not meet the Best’s rating requirement set forth in Section 4.3, provided that (a) the Captive will be licensed in the states where the Land is located to the extent required by law, (b) the organization, capitalization, and reserves of the Captive is and shall at all times remain reasonably acceptable to Landlord, and (c) the insurance coverages otherwise comply with this Lease. Tenant will cause the Captive to, within forty-five (45) days after the end of each calendar quarter, deliver reports detailing the “total loss pick” with a breakdown between claims incurred and reported and claims incurred but not yet reported, and further detailing and indicating the amount to be reserved at the then current “total loss pick” with a reasonably detailed explanation of how such reserved amount was calculated and determined. Tenant shall include therein a certification that the Tenant is recording general and professional liability costs, on a monthly basis, in a manner consistent with the most recent actuarial valuations. Within three (3) Business Days following Tenant’s receipt thereof, if and to the extent relating to the Leased Property, true, correct and complete copies of all professional negligence, malpractice and/or general liability actuarial studies, reports and/or analyses prepared from time to time for Tenant. Notwithstanding the foregoing, Tenant and Landlord agree that if Landlord seeks Landlord Financing on any or all of the Leased Properties wherein the lender requires that any insurance will be obtained from a third-party insurer meeting lender specifications that Tenant will obtain such coverage. Provided however, a condition to such Landlord Financing is that Tenant be able to obtain a waiver from any lender requirement that Tenant must obtain similar coverage for any other Leased Properties which are not part of such Landlord Financing. Provided further, Tenant shall use reasonable best efforts to obtain such waiver, including, but not limited to, pursuing any available appeals process.
Captive Insurance Company. Xxxxx American Corporation (“Xxxxx”) is duly licensed as a captive insurance company with the Vermont Department of Financial Regulation (“VDFR”). ABS Insurance, Ltd. (“ABSI”; ABSI and Xxxxx, each an “Insurance Subsidiary,” and collectively, the “Insurance Subsidiaries”) is duly licensed as a captive insurance company with the Bermuda Monetary Authority (“BMA”). Each Insurance Subsidiary has complied and currently complies in all material respects with the capital, reserve and other regulatory requirements of all applicable insurance Laws. Seller has delivered to Buyer copies of (i) all material registrations, filings and submissions made since January 22, 2006, by each Insurance Subsidiary with any insurance regulatory authority, including (in the case of Xxxxx) VDFR and (in the case of ABSI) BMA; (ii) any material reports on financial examination, market conduct reports and other reports issued since February 27, 2010, by any insurance regulatory authority, including (in the case of Xxxxx) VDFR and (in the case of ABSI) BMA, that relate to any Insurance Subsidiary; and (iii) the latest audited financial statements of each Insurance Subsidiary (the “Insurance Subsidiary Financial Statements”). No Insurance Subsidiary holds any Indebtedness of Seller or any Affiliates of Seller other than the Company and its Subsidiaries, and no Insurance Subsidiary owes any amounts or claims to, or is party to any Contracts with, Seller or any of Affiliates of Seller other than the Company and its Subsidiaries.
Captive Insurance Company. The Captive Insurance Company is duly licensed or authorized as an insurance company in the State of Oregon. The Captive Insurance Company is not licensed to do insurance business in or subject to the insurance Laws of any jurisdiction other than the State of Oregon. The Captive Insurance Company is not a party to any reinsurance treaty or agreement, other than reinsurance treaties or agreements with the Company Insurance Subsidiaries. Since September 30, 2014, the Captive Insurance Company has timely filed all statements and reports, together with all exhibits, interrogatories, notes, actuarial opinions, affirmations, certifications, schedules or other material supporting documents in connection therewith, required to be filed by it with the applicable Insurance Regulatory Authorities on forms prescribed or permitted by such Insurance Regulatory Authorities, except for such failures to file which would not have had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. All such statements and reports complied when filed with the requirements of applicable Laws, and no deficiencies have been asserted in writing by any Insurance Regulatory Authorities with respect to such statements and reports that have not been remedied, except as would not, individually or in the aggregate, constitute a Company Material Adverse Effect.
