Common use of Class Clause in Contracts

Class. Contractor shall acquire such insurance from an insurance carrier or carriers licensed to conduct business in each Participating Entity’s state and having a rating of A-, Class VII or better, in the most recently published edition of A.M. Best’s Insurance Reports. Failure to buy and maintain the required insurance may result in this Master Agreement’s termination or, at a Participating Entity’s option, result in termination of its Participating Addendum.

Class. Contractor shall acquire such insurance from an insurance carrier or carriers licensed to conduct business in each Participating Entity’s 's state and having a rating of A-, Class VII or better, in the most recently published edition of A.M. Best’s 's Insurance Reports. Failure to buy and maintain the required insurance may result in this Master Agreement’s 's termination or, at a Participating Entity’s 's option, result in termination of its Participating Addendum.