Common use of Licensing and Rating Clause in Contracts

Licensing and Rating. The bonds shall be duly executed by responsible surety companies admitted to do business in the State of California, licensed or authorized in the jurisdiction in which the Project is located to issue bonds for the limits required by this agreement, secured through an authorized agent with an office in California, and have a minimum AM Best rating of “A-” to an amount not to exceed ten percent (10%) of its capital and surplus.

Licensing and Rating. The bonds shall be duly executed by a responsible surety companies company admitted to do business in the State of California, licensed or authorized in the jurisdiction in which the Project is located to issue bonds for the limits required by this agreement, secured through an authorized agent with an office in CaliforniaAgreement, and have a minimum AM Best rating of “A-” to an amount not to exceed ten 10 percent (10%) of its capital and surplus.

Licensing and Rating. The bonds shall be duly executed by a responsible surety companies company admitted to do business in the State of California, licensed or authorized in the jurisdiction in which the Project is located to issue bonds for the limits required by this agreement, secured through an authorized agent with an office in CaliforniaAgreement, and have a minimum AM Best rating of “A-” to an amount not to exceed ten percent (10%) of its capital and surplus.

Licensing and Rating. The bonds shall be duly executed by responsible surety companies admitted to do business in the State of California, licensed or authorized in the jurisdiction in which the Project project is located to issue bonds for the limits required by this agreement, secured through an authorized agent with an office in California, and have a minimum AM Best rating of “A-” to an amount not to exceed ten percent (10%) of its capital and surplus.

Licensing and Rating. The bonds shall be duly executed by responsible surety companies admitted to do business in the State of California, licensed or authorized in the jurisdiction in which the Project project is located to issue bonds for the limits required by this agreementAgreement, secured through an authorized agent with an office in California, and have a minimum AM Best rating of “A-” to an amount not to exceed ten percent (10%) of its capital and surplus.