Common use of Adverse Governmental Action Clause in Contracts

Adverse Governmental Action. Any Department or other Governmental Authority revokes or fails to renew any insurance license, permit, or franchise of any Material Insurance Subsidiary, or imposes any restriction or condition on any insurance license, permit, or franchise of any Material Insurance Subsidiary, if such revocation, non-renewal, condition, or restriction is reasonably likely to have a Material Adverse Effect; or

Adverse Governmental Action. Any Department or other Governmental Authority revokes or fails to renew any insurance license, permit, permit or franchise of any Material Insurance Subsidiary that is a Significant Subsidiary, or imposes any restriction or condition on any insurance license, permit, permit or franchise of any Material Insurance Subsidiary that is a Significant Subsidiary, if such revocation, non-renewal, condition, condition or restriction is reasonably likely to have a Material Adverse Effect; or