Insurance Affiliate definition
Examples of Insurance Affiliate in a sentence
The Insurance Affiliate will continue to maintain any systems, programs or other infrastructure notwithstanding a seizure of the Insurance Affiliate by the Commissioner under the applicable domiciliary state insurance receivership statutes, and will make them available to the receiver for as long as the Insurance Affiliate continues to receive timely payment for services rendered.
In the event the Insurance Affiliate is placed in receivership or seized by its domiciliary state Commissioner pursuant to applicable domiciliary state insurance receivership statutes, (i) all of the rights of the Insurance Affiliate, as applicable, under this Agreement will extend to the receiver or the Commissioner, as applicable, and (ii) all books and records related to the Services hereunder will be made available to the receiver or the Commissioner, as applicable, immediately upon request thereby.
Each Obligor authorizes Lender to communicate directly with its independent certified public accountants and authorizes those accountants to disclose to Lender any and all financial statements and other supporting financial documents and schedules relating to such Obligor and its Subsidiaries (including each Insurance Affiliate).
Each Obligor and each Insurance Affiliate is, and AAI and its Subsidiaries on a consolidated basis are, Solvent.
Promptly and fully comply with all contractual obligations under all agreements, mortgages, indentures, leases and/or instruments (other than the Loan Documents) to which any one or more of the Obligors or Insurance Affiliate is a party, whether such agreements, mortgages, indentures, leases or instruments are with the Lender or another Person, except where such failure to so comply would not have a Materially Adverse Effect.
Such additional information as the Lender may reasonably request concerning each Obligor and Insurance Affiliate and for that purpose all pertinent books, documents and vouchers relating to its business, affairs and Properties, including investments as shall from time to time be designated by the Lender.
With respect to each Insurance Affiliate, within fifteen days after the first to occur of (i) the required filing date (as established by law or the applicable Insurance Commissioner), and (ii) the date on which actually filed, annual financial statements prepared in the form of convention blanks prescribed by NAIC, as filed with each Insurance Commissioner.
Keep accurate and complete records and books of account, in which complete entries will be made in accordance with GAAP or SAP, as appropriate, reflecting all financial transactions of such Obligor or Insurance Affiliate.
Each of Seller and Seller Insurance Affiliate shall maintain all its insurance policies covering the EFK Facility and assets and properties related thereto in existence on the date hereof, in each case with terms no less favorable than those in existence on the date hereof and without (w) change in beneficiary, (x) lapse in coverage or (y) material increase in required deductibles or retention payments.
Buyer shall maintain insurance policies adequate to cover losses related to the Consigned Tools (as such term is defined in the FTSA Attachment No.1) and shall apply any proceeds from such policies received in connection with any Total Loss Event to mitigate such losses; provided that such application of proceeds shall not be required (I) in the event that Seller or Seller Insurance Affiliate is in breach of this Section 6.07 or (II) if Buyer terminates this Agreement pursuant to Section 10.01(d)(ii).