Common use of Permits, Licenses and Franchises Clause in Contracts

Permits, Licenses and Franchises. Schedule 3.09 hereto lists (i) all jurisdictions in which Seller and CLIC are licensed to issue the Insurance Contracts and (ii) the lines of business in connection with the Business which Seller and CLIC are authorized to transact in each such jurisdiction. Seller and CLIC have been duly authorized by the relevant state insurance regulatory authorities to issue the Insurance Contracts that it is currently writing, and was duly authorized to issue the Insurance Contracts that it is not currently writing at the time such Insurance Contracts were issued, in the respective states in which it conducts the Business, except for authorizations the failure of which to have would not, individually or in the aggregate, have a material adverse effect on the Business. Except as set forth on Schedule 3.09, Seller and CLIC have all other Permits necessary to conduct the Business in the manner and in the areas in which the Business is presently being conducted and all such Permits are valid and in full force and effect, except where the failure to have such a Permit would not, individually or in the aggregate, have a material adverse effect on the Business.

Permits, Licenses and Franchises. Schedule 3.09 hereto lists (i) all jurisdictions in which Seller and CLIC Sellers are licensed to issue the Insurance Coinsured Contracts and (ii) the lines of business in connection with the Business which Seller and CLIC Sellers are authorized to transact in each such jurisdiction. Each Seller and CLIC have has been duly authorized by the relevant state insurance regulatory authorities to issue the Insurance Coinsured Contracts that it is currently writing, and was duly authorized to issue the Insurance Coinsured Contracts that it is not currently writing at the time such Insurance Coinsured Contracts were issued, in the respective states in which it conducts the Business, except for authorizations the failure of which to have would not, individually or in the aggregate, have a material adverse effect on the Business. Except as set forth on Schedule 3.09, Seller and CLIC Sellers have all other Permits necessary to conduct the Business in the manner and in the areas in which the Business is presently being conducted and all such Permits are valid and in full force and effect, except where the failure to have such a Permit would not, individually or in the aggregate, have a material adverse effect on the Business.

Permits, Licenses and Franchises. Schedule 3.09 hereto 2.7 lists (i) all -------------------------------- jurisdictions in which Seller and CLIC Sellers are licensed to issue the Insurance Contracts and (ii) the lines of business in connection with the Business which Seller and CLIC Sellers are authorized to transact in each such jurisdiction. Each Seller and CLIC have has been duly authorized by the relevant state insurance regulatory authorities to issue the Insurance Contracts that it is currently writing, and was duly authorized to issue the Insurance Contracts that it is not currently writing at the time such Insurance Contracts were issued, in the respective states in which it conducts the Business, except for authorizations the failure of which to have would not, individually or in the aggregate, have a material adverse effect on the BusinessSeller Material Adverse Effect. Except as set forth on Schedule 3.092.7, each Seller and CLIC have has all other Permits necessary to conduct the Business in the manner and in the areas in which the Business is presently being conducted and all such Permits are valid and in full force and effect, except where the failure to have such a Permit would not, individually or in the aggregate, have a material adverse effect on the BusinessSeller Material Adverse Effect.