16 Insurance Clause Samples

The Insurance clause requires one or both parties to obtain and maintain specific types and amounts of insurance coverage relevant to the contract. Typically, it outlines the minimum coverage limits, the types of insurance required (such as general liability, professional liability, or workers’ compensation), and may require proof of insurance through certificates. This clause ensures that financial risks associated with potential losses, damages, or liabilities arising from the contract are managed and transferred to an insurer, thereby protecting both parties from unforeseen costs and disputes.
16 Insurance. Set forth on Schedule 9.16 is a complete and accurate summary of the property and casualty insurance program of the Loan Parties as of the Closing Date (including the names of all insurers, policy numbers, expiration dates, amounts and types of coverage, annual premiums, exclusions, deductibles, self-insured retention, and a description in reasonable detail of any self-insurance program, retrospective rating plan, fronting arrangement or other risk assumption arrangement involving any Loan Party). Each Loan Party and its properties are insured with financially sound and reputable insurance companies which are not Affiliates of the Loan Parties, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where such Loan Parties operate.
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16 Insurance. 16 Governmental Licenses, Permits and Related Approvals..............................16
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Related to 16 Insurance

  • Group Insurance All employees covered by this Agreement shall receive the same group insurance benefits as provided to other County employees in accordance with the County Benefit Program.

  • ▇▇▇▇ ▇▇▇▇▇ Insurance (a) If an Employee is in receipt of an Incolink benefit and suffers a disability for a period of more than 14 days, they will have access to a benefit under a policy procured by Incolink to reimburse domestic bills which the worker receives and pays during their disablement. (b) This policy will reimburse up to $300 per bill up to a maximum of $6,000 for all bills for any one period of disablement. (c) The Employer will pay a contribution on behalf of each Employee of $1.50 per week per Employee in accordance with the relevant Incolink trust deed or other governing documents.

  • Umbrella Insurance During the term of this Contract, Supplier will maintain umbrella coverage over Employer’s Liability, Commercial General Liability, and Commercial Automobile. Minimum Limits: $2,000,000

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Fire Insurance The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE's use of the premises.