NMIC definition
Examples of NMIC in a sentence
NMIC shall at all times be in compliance with all applicable “financial requirements” imposed pursuant to PMIERs when and to the extent such financial requirements are effective, subject, for the avoidance of doubt, to any allowed transition period thereunder or any forbearance thereunder afforded by any Government-Sponsored Enterprise.
In the event of the insolvency of NWL ---------------------------------- all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by NMIC directly to NWL or its liquidator, receiver, or statutory successor on the basis of the liability of NWL under the Policies reinsured without diminution because of the insolvency of NWL.
Both NWL and NMIC will promptly take all reasonable -------------------- actions necessary to secure any regulatory approvals necessary or appropriate to enable them to consummate the transactions contemplated herein.
Shall use commercially reasonable efforts to ensure that NMIC maintains a financial strength rating (but not a specific rating) from at least one of (i) S&P, (ii) Moody’s, and (iii) with the consent of the Agent (not to be unreasonably withheld, conditioned or delayed), any other nationally recognized statistical rating organization (it being understood that the Agent hereby consents to Fitch as a nationally recognized statistical rating organization).
NMIC is a corporation duly organized, validly existing and in good standing under the laws of the State of New Mexico, qualified to transact business in the State of New Mexico and has the power and authority to own its property and to carry on its business in each jurisdiction in which said Borrower does business.
NWL and NMIC have caused this Agreement to be executed, in duplicate, by their respective officers duly authorized to do so, as of the date shown above.
Such employees may include, but are not limited to, appointed and elected officers who provide services to both NMIC and NF.
Accounting records shall be submitted by NWL to NMIC ------------------ not later than 30 days after the end of each accounting period.
Subject to receipt of the approvals ----------------------------------- and consents listed in Schedule 1, NMIC has all approvals, authorizations, consents, licenses, franchises, orders and other permits necessary to carry out the terms and provisions of this Agreement.
Notwithstanding anything in this Agreement ------------------------------ to the contrary, NMIC shall be entitled to receive, all premiums payable and investment income with respect to the Policies on and after the Effective Date.