Acquisition and Maintenance Sample Clauses
The Acquisition and Maintenance clause outlines the responsibilities of a party to obtain and continuously uphold certain assets, rights, or approvals necessary for fulfilling contractual obligations. Typically, this clause requires a party to secure licenses, permits, equipment, or intellectual property and to ensure these remain valid and effective throughout the contract term. Its core function is to ensure that all essential resources or authorizations are in place and maintained, thereby preventing disruptions or breaches due to lapses in required assets or permissions.
Acquisition and Maintenance. Where the acquisition of an intellectual property right is subject to the right being granted or registered, the Parties shall ensure that the procedures for grant or registration are at least of the same level as that provided in the TRIPS Agreement, in particular in Article 62.
Acquisition and Maintenance. Borrower, at Borrower's expense, shall keep and maintain the Collateral insured against loss or damage by fire, theft, explosion, sprinklers and all other hazards and risks ordinarily insured against by other owners who use such properties in similar businesses for the full insurable value thereof. Borrower shall also keep and maintain business interruption insurance and public liability and property damage insurance relating to Borrower's ownership and use of the Collateral. All such policies of insurance shall be in such form, with such companies, and in such amounts and with such deductibles as may be satisfactory to Bank. Borrower shall deliver to Bank certified copies of such policies of insurance or certificates from the issuer of such insurance certifying to Bank in writing that such insurance has been obtained and is in full force and effect and evidence of the payments of all premiums therefor.
Acquisition and Maintenance. OF POST-DISTRIBUTION VYGP INSURANCE POLICIES AND PROGRAMS. Commencing on and as of the Distribution Date, VYGP shall be responsible for establishing and maintaining separate property, casualty and liability insurance policies and programs (including, without limitation, primary and excess general liability, errors and omissions, automobile, workers' compensation, property, fire, crime, surety and other similar insurance policies) for activities and claims involving VYGP or any of its Subsidiaries or Affiliates. In addition to the foregoing, VYGP shall obtain insurance covering its contractual obligations to indemnify VIGC and the VIGC Indemnified Parties under this Agreement and shall arrange for VIGC and the VIGC Indemnified Parties to be named insured under such policies. All insurance policies required to be maintained by VYGP shall be with insurers reasonably acceptable to VIGC with respect to financial condition and claims paying ability. VYGP will exercise commercially reasonable efforts to secure liability insurance to avoid potential gaps in coverage for claims arising from events prior to the Distribution Date, which gap would not exist had the VYGP Business continued to be covered with the same retroactive dates existing in the VIGC Policies in effect on the Distribution Date. VYGP and each of its Subsidiaries and Affiliates, as appropriate, shall be responsible for all administrative and financial matters relating to insurance policies established and maintained by VYGP and its Subsidiaries or Affiliates for claims relating to any period on or after the Distribution Date involving VYGP or any of its Subsidiaries or Affiliates. Notwithstanding any other agreement or understanding to the contrary, except as set forth in Section 10.6 with respect to claims administration and financial administration of the VIGC Policies, neither VIGC nor any of its Subsidiaries or Affiliates shall have any responsibility for or obligation to VYGP or any of its Subsidiaries or Affiliates relating to property and casualty insurance matters for any period, whether prior to, on or after the Distribution Date.
Acquisition and Maintenance. Borrower, at Borrower’s expense, shall keep and maintain and shall cause Broker-Dealer to keep and maintain public liability and property damage insurance relating to Borrower’s and Broker-Dealer’s respective businesses. All such policies of insurance shall be in such form, with such companies, and in such amounts and with such deductibles as may be satisfactory to Bank. Borrower and Broker-Dealer shall deliver to Bank, at Bank’s request, certified copies of such policies of insurance and evidence of the payments of all premiums therefore.
Acquisition and Maintenance. Borrower, at Borrower's expense, --------------------------- shall keep and maintain the Collateral insured against loss or damage by fire, theft, explosion, sprinklers and all other hazards and risks ordinarily insured against by other owners who use such properties in similar businesses for the full insurable value thereof. Borrower shall also keep and maintain business interruption insurance and public liability and property damage insurance relating to Borrower's ownership and use of the Collateral. All such policies of insurance shall be in such form, with such companies, and in such amounts and with such deductibles as may be satisfactory to Bank. Borrower shall deliver to Bank certified copies of such policies of insurance and evidence of the payments of all premiums therefor.