Common use of Additional Policy Requirements Clause in Contracts

Additional Policy Requirements. All insurance policies required to be procured under this License shall be effected under valid policies issued by insurers which have an Xxxxxx X. Best Company, Inc. rating of “A-“ or better and a financial size category of not less than “X” (or if Xxxxxx X. Best Company, Inc. no longer uses such a rating system, then the equivalent or most similar rating under the rating system then in effect, or if Xxxxxx X. Best Company, Inc. is no longer the most widely accepted rater of the financial stability of insurance companies providing coverage such as that required by this License, then the equivalent or most similar rating under the rating system then in effect of the most widely accepted rater of the financial stability of such insurance companies at the time). Each and every policy required to be carried hereunder shall provide for waivers of subrogation by endorsement or other means which waiver of subrogation shall be effective as to any Party, provided however, that the Licensee Worker’s Compensation Policy shall only have to comply when this subsection (b) is available. Each and every insurance policy required to be carried hereunder by or on behalf of any party shall provide (and any certificate evidencing the existence of each such insurance policy shall certify) that such insurance policy shall not be cancelled, non-renewed or coverage there under materially reduced unless the other Parties shall have received written notice of cancellation, non-renewal or material reduction in coverage, in each such case (except for notice of cancellation due to non-payment of premiums) such written notice to be sent to the other parties not less than ninety (90) days (or the maximum period of days permitted under applicable law, if less than ninety (90) days prior to the effective date of such cancellation, non-renewal or material reduction in coverage, as applicable. In the event any insurance policy is to be canceled due to non-payment of premiums, the requirements of the preceding sentence shall apply except that the written notice shall be sent to the other parties on the earliest possible date but in no event less than ten (10) days prior to the effective date of each cancellation.

Additional Policy Requirements. All (a) The "all risk" property insurance policies required to be procured obtained by Lessee under this License SECTION 9 shall be effected under valid policies primary and not be concurrent in form or contributing with any other coverage which Lessee or Lessor may carry. Such insurance shall be issued by insurers insurance companies legally qualified to issue such insurance in the jurisdiction in which have an Xxxxxx X. Best Companyeach Property is located and of recognized reputability rated A-XI or better (or the then equivalent of such rating) by Best's Insurance Reports (or any successor publication of comparable standing), BBB or better by Standard & Poor's Rating Group and Ba3 by Moodx'x Xxxestors Service, Inc. rating of “A-“ or better and a financial size category of not less than “X” (or if Xxxxxx X. Best Company, Inc. no longer uses such a rating system, then the equivalent or most similar rating under the rating system then in effect, or if Xxxxxx X. Best Company, Inc. is no longer the most widely accepted rater of the financial stability Such insurance shall be provided pursuant to forms of insurance companies providing coverage policies reasonably satisfactory to Lessor. Neither the issuance of any insurance policy required under this Lease, nor the minimum limits specified herein with respect to Lessee's insurance coverage, shall be deemed to limit or restrict in any way Lessee's liability arising under this Lease. The dollar amounts set forth in SECTION 9.1(D) shall be increased from time to time during the term upon request by Lessor to the extent such as that increase is consistent with commercial general liability insurance then customarily required by this Licenselandlords of Comparable Buildings. With respect to the insurance required by SECTIONS 9.1(A) and (D) that is provided by means of an insurance policy covering each Property and other properties owned or occupied by Lessee on or before the date upon which such insurance is required, then Lessee shall deliver to Lessor (i) an original certificate evidencing such insurance, (ii) an original endorsement to such policy naming Lessor as loss payee or additional insured, as the equivalent or most similar rating under the rating system then in effect case may be, and (iii) a summary of the most widely accepted rater of the financial stability those provisions of such policy applicable to each Property certified by the issuer. With respect to each other insurance companies at the time). Each and every policy required to be carried hereunder obtained by Lessee under this SECTION 9, on or before the date on which such insurance coverage is required by SECTION 9.1, Lessee shall deliver to Lessor satisfactory evidence of such insurance. Prior to the expiration of any required policy Lessee shall provide for waivers to Lessor satisfactory evidence of subrogation by endorsement renewal or other means which waiver replacement of subrogation shall be effective as to any Party, provided however, that the Licensee Worker’s Compensation Policy shall only have to comply when this subsection (b) is availablesuch insurance policy. Each and every insurance policy required to be carried hereunder by or on behalf of any party Lessee shall (A) provide (and any certificate evidencing the existence of each such insurance policy shall certify) (i) that such insurance policy shall not be cancelled, non-renewed cancelled or coverage there under materially reduced modified unless the other Parties Lessor shall have received thirty (30) days' prior written notice of cancellationsuch cancellation or modification, non-renewal (ii) that any loss payable thereunder shall be payable notwithstanding any act, omission or material reduction negligence of Lessee which might, absent such agreement, result in coverage, in each such case (except for notice a forfeiture of cancellation due to non-payment of premiums) such written notice to be sent to the other parties not less than ninety (90) days (all or the maximum period of days permitted under applicable law, if less than ninety (90) days prior to the effective date any portion of such cancellationinsurance payment, non-renewal or material reduction in coverage, as applicable. In (iii) that the event any insurance policy is to be canceled due to non-payment of premiums, the requirements interests of the preceding sentence shall apply except that Lessor, Agent and the written notice Holders from time to time of the Notes shall be sent insured regardless of any breach or violation by the Lessee of any representations, warranties, conditions or declarations contained in such policy and (B) contain such deductibles and retentions as shall be commercially available and reasonably acceptable to the other parties on the earliest possible date but in no event less than ten (10) days prior to the effective date of each cancellationAgent.

Additional Policy Requirements. All (a) The "all risk" property insurance policies required to be procured obtained by Lessee under this License SECTION 9 shall be effected under valid policies primary and not be concurrent in form or contributing with any other coverage which Lessee or Lessor may carry. Such insurance shall be issued by insurers insurance companies legally qualified to issue such insurance in the jurisdiction in which have an Xxxxxx X. Best Companythe Freezer Property is located and of recognized reputability rated A- XI or better (or the then equivalent of such rating) by Best's Insurance Reports (or any successor publication of comparable standing), BBB or better by Standard & Poor's Rating Group and Ba3 by Moodx'x Xxxestors Service, Inc. rating of “A-“ or better and a financial size category of not less than “X” (or if Xxxxxx X. Best Company, Inc. no longer uses such a rating system, then the equivalent or most similar rating under the rating system then in effect, or if Xxxxxx X. Best Company, Inc. is no longer the most widely accepted rater of the financial stability Such insurance shall be provided pursuant to forms of insurance companies providing coverage policies reasonably satisfactory to Lessor. Neither the issuance of any insurance policy required under this Lease, nor the minimum limits specified herein with respect to Lessee's insurance coverage, shall be deemed to limit or restrict in any way Lessee's liability arising under this Lease. The dollar amounts set forth in SECTION 9.1(D) shall be increased from time to time during the term upon request by Lessor to the extent such as that increase is consistent with commercial general liability insurance then customarily required by this Licenselandlords of Comparable Buildings. With respect to the insurance required by SECTIONS 9.1(A) and (D) that is provided by means of an insurance policy covering the Freezer Property and other properties owned or occupied by Lessee on or before the date upon which such insurance is required, then Lessee shall deliver to Lessor (i) an original certificate evidencing such insurance, (ii) an original endorsement to such policy naming Lessor as loss payee or additional insured, as the equivalent or most similar rating under the rating system then in effect case may be, and (iii) a summary of the most widely accepted rater of the financial stability those provisions of such policy applicable to the Freezer Property certified by the issuer. With respect to each other insurance companies at the time). Each and every policy required to be carried hereunder obtained by Lessee under this SECTION 9, on or before the date on which such insurance coverage is required by SECTION 9.1, Lessee shall deliver to Lessor satisfactory evidence of such insurance. Prior to the expiration of any required policy Lessee shall provide for waivers to Lessor satisfactory evidence of subrogation by endorsement renewal or other means which waiver replacement of subrogation shall be effective as to any Party, provided however, that the Licensee Worker’s Compensation Policy shall only have to comply when this subsection (b) is availablesuch insurance policy. Each and every insurance policy required to be carried hereunder by or on behalf of any party Lessee shall (A) provide (and any certificate evidencing the existence of each such insurance policy shall certify) (i) that such insurance policy shall not be cancelled, non-renewed cancelled or coverage there under materially reduced modified unless the other Parties Lessor shall have received thirty (30) days' prior written notice of cancellationsuch cancellation or modification, non-renewal (ii) that any loss payable thereunder shall be payable notwithstanding any act, omission or material reduction negligence of Lessee which might, absent such agreement, result in coverage, in each such case (except for notice a forfeiture of cancellation due to non-payment of premiums) such written notice to be sent to the other parties not less than ninety (90) days (all or the maximum period of days permitted under applicable law, if less than ninety (90) days prior to the effective date any portion of such cancellationinsurance payment, non-renewal or material reduction in coverage, as applicable. In the event any insurance policy is to be canceled due to non-payment of premiums, the requirements of the preceding sentence shall apply except (iii) that the written notice shall be sent to the other parties on the earliest possible date but in no event less than ten (10) days prior to the effective date interests of each cancellation.the