Common use of Minimum Rating Clause in Contracts

Minimum Rating. The Borrower will not permit or suffer the financial strength rating of each Regulated Insurance Company that is material to the Borrower and its Subsidiaries, taken as a whole by A.M. Best Company to be less than “B++” at any time to the extent such Regulated Insurance Company has an A.M. Best Company financial strength rating; provided that, in the case of a Regulated Insurance Company that is acquired after the Effective Date, such Regulated Insurance Company may have a financial strength rating by A.M. Best Company of less than “B++” until the date that is one (1) year after the date of acquisition of such Regulated Insurance Company.