Insurance Regulators. Except as would not have, individually or in the aggregate, a Material Adverse Effect, (a) there is no (i) written agreement, memorandum of understanding, commitment letter or similar undertaking with any Insurance Regulator that is binding on the Company or any of its Insurance Subsidiaries, or (ii) Order or directive by, or supervisory letter or cease-and-desist order from, any Insurance Regulator that is binding on the Company or any of its Insurance Subsidiaries and (b) neither the Company nor any of its Insurance Subsidiaries has adopted any board resolution at the request of any Insurance Regulator, in the case of each of clauses (a) and (b), that (A) limits in any material respect the ability of the Company or any of its Insurance Subsidiaries to issue or enter into Insurance Contracts or other reinsurance or retrocession treaties or agreements, slips, binders, cover notes or other similar arrangements, (B) requires the divestiture of any material investment, (C) limits in any material respect the ability of the Company or any of its Insurance Subsidiaries to pay dividends or (D) requires any material investment to be treated as a “nonadmitted asset” (or the local equivalent). Except for regular periodic assessments in the ordinary course of business consistent with past practice or assessments based on developments which are publicly known within the insurance industry, to the Knowledge of the Company, no claim or assessment is pending or threatened against the Company or any of its Insurance Subsidiaries that is peculiar or unique to the Company or any such Insurance Subsidiary by any state insurance guaranty associations in connection with such association’s fund relating to insolvent insurers which if determined adversely, would, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect.
Insurance Regulators. The Company is not commercially domiciled in any jurisdiction, and neither Seller nor any of its Affiliates has been notified or otherwise made aware by any Insurance Regulator (except the DOI with respect to Massachusetts) that such Insurance Regulator may deem the Company to be domiciled or commercially domiciled in the jurisdiction regulated by that Insurance Regulator.
Insurance Regulators. Except (x) as required by Insurance Laws of general applicability and the insurance or reinsurance licenses maintained by the Insurance Subsidiaries, or as set forth in Section 3.21 of the Company Disclosure Letter, or (y) as would not have a Company Material Adverse Effect, (a) there is no (i) written agreement, memorandum of understanding, commitment letter or similar undertaking with any Insurance Regulator that is binding on the Company or any of its Insurance Subsidiaries, or (ii) Order or directive by, or supervisory letter or cease-and-desist order from, any Insurance Regulator that is binding on the Company or any of its Insurance Subsidiaries and (b) neither the Company nor any of its Insurance Subsidiaries has adopted any board resolution at the request of any Insurance Regulator, in the case of each of clauses (a) and (b), that (A) limits in any material respect the ability of the Insurance Subsidiaries to issue or enter into Insurance Contracts or other reinsurance or retrocession treaties or agreements, slips, binders, cover notes or other similar arrangements, (B) requires the divestiture of any material investment of the Insurance Subsidiaries, (C) limits in any material respect the ability of the Insurance Subsidiaries to pay dividends, (D) requires any material investment of the Insurance Subsidiaries to be treated as a “nonadmitted asset” (or the local equivalent) or (E) imposes an obligation to maintain capital or surplus amounts or levels, except for any such requirements or restrictions under applicable Laws of general application. Except for regular periodic assessments in the ordinary course of business consistent with past practice or assessments based on developments which are publicly known within the insurance industry, to the Knowledge of the Company, no claim or assessment is pending or threatened against the Insurance Subsidiaries that is peculiar or unique to any such Insurance Subsidiary by any state insurance guaranty associations in connection with such association’s fund relating to insolvent insurers which if determined adversely, would have a Company Material Adverse Effect. Since December 31, 2020, no material fine or penalty has been imposed on the Company or any of its Insurance Subsidiaries by any Insurance Regulator.
Insurance Regulators. 18 4.9 Insurance ...............................................................................................18 4.11 Reinsurance ...........................................................................................19 4.12
Insurance Regulators. Except as set forth on Schedule 4.8, (a) there is no (i) written agreement, memorandum of understanding, commitment letter or similar undertaking with any Insurance Regulator that is binding on any Issuer Party, or (ii) order or directive by, or supervisory letter or cease-and-desist order from, any Insurance Regulator that is binding on the any Issuer Party and (b) neither the Board nor the board of directors of any other Issuer Party has adopted any board resolution at the request of any Insurance Regulator, in the case of each of clauses (a) and (b), that (I) limits in any material respect the ability of the Issuer or FNIC to issue or enter into Insurance Contracts or other reinsurance or retrocession treaties or agreements, slips, binders, cover notes or other similar arrangements, (II) requires the divestiture of any material investment, (III) limits in any material respect the ability of any Issuer Party to pay dividends or (D) requires any material investment to be treated as a “nonadmitted asset” (or the local equivalent). Except for regular periodic assessments in the ordinary course of business consistent with past practice or assessments based on developments which are publicly known within the insurance industry, to the Knowledge of the Issuer Parties, no claim or assessment is pending or threatened against an Issuer Party or any other FNHC Subsidiary by any state insurance guaranty associations in connection with such association’s fund relating to insolvent insurers which if determined adversely, would, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect. 4.9
