NAIC 2 definition

NAIC 2 means the rating NAIC 2 of the NAIC. If the ratings system of the NAIC shall change or if the NAIC shall cease to assign quality ratings to Invested Assets, then, in furtherance of the last sentence of Section 1.02, the Borrower and the Lenders will negotiate in good faith to substitute for the references to NAIC 2 in this Agreement references to equivalent ratings reflecting such changed rating system or the non-availability of ratings from the NAIC.
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Examples of NAIC 2 in a sentence

  • All insurance required by this Agreement will be obtained and maintained from and with a reputable and financially sound insurance company with an A.M. Best Rating of A-VII or better authorized to issue such insurance in the State of Indiana, with commercially reasonably deductible amounts and with a claims paying rating ability at least equivalent to a NAIC 2 Designation.

  • If the rating on any securities so invested is downgraded below NAIC 2, then such securities shall be promptly replaced with other NAIC 1 or 2 rated securities having the same face amount as the securities so replaced.

  • All insurance required by this Article VI shall be obtained and maintained from and with a reputable and financially sound insurance company with an A.M. Best Rating of A-VII or better authorized to issue such insurance in the State of Indiana, with commercially reasonably deductible amounts and with a claims paying rating ability at least equivalent to a NAIC 2 Designation.

  • Individual securities must be rated at least investment grade (Baa3/BBB) with no more than ten percent (10%) overall permitted in the BBB (NAIC 2) category.

  • Any security that is downgraded below investment grade, or below NAIC 2 will be carried in Other Investment portion of the portfolio.

  • There is standing authority to purchase 144A privates as public bonds and to purchase private placement debt currently rated or expected to be rated NAIC 2 or better.

Related to NAIC 2

  • SABS 0400 means the South African Bureau of Standards, Code of Practice for the application of the National Building Regulations;

  • Digital Signal Level 0 (DS-0) means the lowest-level signal in the time division multiplex digital hierarchy, and represents a voice-grade channel operating at either the 56 Kbps or 64 Kbps transmission bit rates. There are twenty-four (24) DS-0 channels in a DS-1.

  • Asynchronous store and forward means the transmission of a patient's medical information from an originating site to the health care provider for telehealth at a distant site without the presence of the patient.

  • HUC 14 or "hydrologic unit code 14" means an area within which water drains to a particular receiving surface water body, also known as a subwatershed, which is identified by a 14-digit hydrologic unit boundary designation, delineated within New Jersey by the United States Geological Survey.

  • Carport - means a roofed structure used for storing or parking of not more than two private vehicles which has not less than 40% of its total perimeter open and unobstructed;