Qualification as a Reinsurer Sample Clauses

Qualification as a Reinsurer. During the continuance of any insurance contracts under this Agreement; Reinsurer agrees, at the option of the Reinsurer, to either maintain continuous qualifications as a reinsurer in the state of Colorado, or maintain a Letter of Credit as security acceptable under Colorado Statute Section 10-3-118(6), or maintain Reinsurance Trust under the terms of such Reinsurance Trust Agreement.
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Qualification as a Reinsurer. During the continuance of any insurance contracts under this Agreement; Reinsurer agrees, at the option of the Reinsurer, to either maintain continuous qualifications as a reinsurer in the state of Texas, or maintain a Letter of Credit as security acceptable under Texas Statutes, or maintain Reinsurance Trust under the terms of such Reinsurance Trust Agreement.
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Related to Qualification as a Reinsurer

  • Qualification as a REIT The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

  • Qualification and Taxation as a REIT The Company will use its best efforts to continue to meet the requirements for qualification and taxation as a REIT under the Code for its taxable year ending December 31, 2016, and the Company will use its best efforts to continue to qualify for taxation as a REIT under the Code unless and until the Company’s board of trustees determines in good faith that it is no longer in the best interests of the Company and its shareholders to be so qualified.

  • Eligibility; Disqualification There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition. This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b).

  • Nasdaq Qualification The Shares to be issued shall be duly authorized for listing by Nasdaq, subject to official notice of issuance, to the extent required by the rules of Nasdaq.

  • Enumeration; Qualification The officers of the Trust shall be a President, a Treasurer, a Secretary, and such other officers, if any, as the Trustees from time to time may in their discretion elect. The Trust also may have such agents as the Trustees from time to time may in their discretion appoint. An officer may be but need not be a Trustee or shareholder. Any two or more offices may be held by the same person.