Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds. (b) The certificate of insurance required by Section 2.1(c) hereof shall be delivered to the Agency on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering the current year of the Tenant’s insurance policy, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
Appears in 8 contracts
Samples: Lease and Project Agreement, Lease and Project Agreement, Lease and Project Agreement (CVD Equipment Corp)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.
(b) The certificate certificates of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency may from time to time reasonably require.
Appears in 6 contracts
Samples: Lease and Project Agreement (CVD Equipment Corp), Lease and Project Agreement (Akoustis Technologies, Inc.), Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds. The policies required under Sections 2.1(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 2.1(d)(ii), (iii) and (iv) as an additional insured on a primary and non- contributory basis xxx XXX xxxxxxxxxxxx XX 00 00 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificate of insurance required by Section 2.1(c) hereof shall be delivered to the Agency on or before the date hereof. The certificate of insurance required by Section 2.1(b) hereof shall be delivered to the Agency by such date as required therein. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering the current year of the Tenant’s insurance policy, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
(d) The minimum insurance requirements set forth under Section 2.1 and this Section
Appears in 3 contracts
Samples: Lease and Project Agreement, Lease and Project Agreement, Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be in form and substance satisfactory to the Agency, and procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Sections 6.4(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 6.4(d)(ii), (iii) and (iv) as an additional insured on a primary and non- contributory basis xxx XXX xxxxxxxxxxxx XX 00 00 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificates of insurance required by Section 6.4(a), (c) and (e) hereof shall be deposited with the Agency on or before the Closing Date. The certificate of insurance required by Section 2.1(c6.4(b) hereof shall be delivered to deposited with the Agency on or before the date hereofat such times as provided therein. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy certificate or policies certificates of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency may from time to time reasonably require, including, without limitation, a copy of the insurance policy.
(d) The minimum insurance requirements set forth under Section 6.4 and this Section
Appears in 3 contracts
Samples: Lease and Project Agreement, Lease and Project Agreement, Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company insurance companies issuing the policies required by Section 2.1(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of evidencing the insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 2.1(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Sublessee as additional insureds. The policies under Section 2.1(a) shall contain appropriate waivers of subrogation.
(b) The certificate policies (or certificates or binders) of insurance required by Section 2.1(cSections 2.1(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the policies (or certificates or binders) of insurance required by Section 2.1(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Sublessee shall deliver or cause to be delivered to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Sublessee shall furnish or cause to be furnished to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant Sublessee shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
Appears in 2 contracts
Samples: Agency Compliance Agreement (CVD Equipment Corp), Agency Compliance Agreement (CVD Equipment Corp)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 4.03 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and selected by satisfactory to the entity required to procure the sameHolder. The company Company or companies issuing the policies required by Section 2.1(aSections 4.03(A) hereof shall be rated “"A” " or better by A.M. Best Co., Inc. in the most recent edition of Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Company is engaged. All policies of evidencing the insurance required by Section 2.1 4.03 (A) hereof shall name the Company as insured and the Holder as mortgagee and loss payee under a lender's loss payable endorsement, as their interests may appear, and all policies evidencing the insurance required by Section 4.03 hereof shall provide for at least thirty (30) days prior days' written notice to the Agency of Company and the restrictionHolder prior to cancellation, cancellation lapse, reduction in policy limits or modification material change in coverage thereof. The policy evidencing the insurance required by Section 2.1(cSections 4.03(A) and 4.03(D) hereof shall name be fully paid for and shall contain a standard non-contributory mortgagee endorsement in favor of the Agency Holder as an additional insuredmortgagee and loss payee. All policies evidencing the insurance required by Section 2.1 (d)(ii) hereunder shall be in form and (iv) shall name content reasonably satisfactory to the Agency Holder. Certificates satisfactory in form and substance to the Tenant as additional insureds.
(b) The certificate of Holder to evidence all insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Holder on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Company shall deliver to the Agency Holder on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month December l reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 4.03 and complying with the additional requirements of Section 2.2(a) 4.04 hereof. Prior to the expiration of each any such policy or policiespolicy, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or Holder evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably requirehereby.
Appears in 1 contract
Samples: Security Agreement (Balchem Corp)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds. The policies required under Sections 2.1(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 2.1(d)(ii), (iii) and (iv) as an additional insured on a primary and non- contributory basis via ISO endorsements CG 20 26 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificate of insurance required by Section 2.1(c) hereof shall be delivered to the Agency on or before the date hereof. The certificate of insurance required by Section 2.1(b) hereof shall be delivered to the Agency by such date as required therein. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering the current year of the Tenant’s insurance policy, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
(d) The minimum insurance requirements set forth under Section 2.1 and this Section
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 5.03 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Borrower and authorized to write such insurance in the State and selected by satisfactory to the entity required to procure the sameHolder. The company Borrower or companies issuing the policies required by Section 2.1(aSections 5.03(A) hereof shall be rated “"A” " or better by A.M. Best Co., Inc. in the most recent edition of Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Borrower is engaged. All policies of evidencing such insurance required by Section 2.1 hereof shall name the Borrower as insured and the Holder as mortgagee and loss payee under a lender's loss payable endorsement, as their interests may appear, and provide for at least thirty (30) days prior days' written notice to the Agency of Borrower and the restrictionHolder prior to cancellation, cancellation lapse, reduction in policy limits or modification material change in coverage thereof. The policy evidencing the insurance required by Section 2.1(cSections 5.03(A) and 5.03(D) hereof shall name be fully paid for and shall contain a standard noncontributory mortgagee endorsement in favor of the Agency Holder as an additional insuredmortgagee and loss payee. All policies evidencing the insurance required by Section 2.1 (d)(ii) hereunder shall be in form, content and (iv) shall name coverage satisfactory to the Agency Holder. Certificates satisfactory in form and substance to the Tenant as additional insureds.
(b) The certificate of Holder to evidence all insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Holder on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Borrower shall deliver to the Agency Holder on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month December 1 reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 5.03 and complying with the additional requirements of Section 2.2(a) 5.04 hereof. Prior At least thirty (30) days prior to the expiration of each any such policy or policiespolicy, the Tenant Borrower shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or Holder evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably requirehereby.
Appears in 1 contract
Additional Provisions Respecting Insurance. (a) All ------------------------------------------ insurance required by this Tenant Agency Compliance Agreement Article shall be procured and maintained in financially sound and generally recognized with responsible insurance companies which are (i) financially-sound and generally-recognized and with a Best's rating of A or better, (ii) approved by Landlord and (iii) authorized to write such insurance in the State and selected by the entity required to procure the sameof Arkansas. The company issuing the policies required by Section 2.1(a) hereof insurance coverage shall be rated “A” or better by A.M. Best Co., Inc. of a type and scope and in Best’s Key Rating Guidethe amounts as shall be acceptable to Landlord. Such insurance may not be written with deductible amounts comparable in excess of such deductible amounts as Landlord may have agreed to those on similar in advance. All policies carried by other companies engaged in businesses similar in sizeevidencing such insurance shall provide for payment of losses to Landlord and Tenant, character and other respects to those in which the procuring entity is engaged. as their respective interests may appear.
(b) All policies of insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency this Article, or a certificate or certificates of the restrictioninsurers that such insurance is in force and effect, cancellation or modification thereof. The policy evidencing other evidence of such insurance satisfactory to Landlord, shall be deposited with Landlord prior to Tenant's taking possession of the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency Facility and the Equipment. Tenant as additional insureds.
(b) The certificate of insurance required by Section 2.1(c) hereof shall be delivered deliver to the Agency Landlord on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day day of each calendar year thereafter a certificate certificates dated not earlier than the immediately preceding month November 1 reciting that there is in full force and effect, effect with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types required by this Article. Prior to expiration of any such policy, Tenant shall furnish Landlord satisfactory evidence that the policy has been renewed or replaced.
(c) All policies of insurance procured by Tenant shall contain endorsements providing that (i) such policies may not be materially changed, amended, reduced, cancelled (including for nonpayment of premium) or allowed to lapse with respect to the Landlord except after 60 days' prior notice from the insurance company to each, sent by registered or certified mail, return receipt requested to the addresses and in the amounts required by Section 2.1 hereof manner then provided in this Lease Agreement for notices; and complying (ii) Tenant shall be solely responsible for the payment of all premiums under such policies and the Landlord shall have no obligation for the payment thereof notwithstanding that the Landlord is or may be named as an insured. Any endorsements to any such policies shall be so deposited with the additional requirements Landlord upon issuance thereof and each renewal or replacement of Section 2.2(a) hereof. Prior a policy shall be so deposited with the Landlord at least 20 days prior to the expiration of each such policy or policies, the policy.
(d) Tenant shall furnish not take out separate insurance concurrent in form or contributing in the event of loss with that required (or which may reasonably be required) pursuant to this Section to be furnished by Tenant unless Landlord are included therein as an insured, with all losses payable thereunder as provided in this Section. Tenant shall immediately notify the Agency Landlord of the taking out of any such separate insurance and any other appropriate Person a new shall deliver the policy or policies as herein provided.
(e) Tenant shall use its best efforts to include in each of its insurance policies (and, with respect to any equipment in the Facility leased by Tenant, in the insurance policies covering such equipment carried by Tenant or evidence the lessors of such equipment) covering loss, damage or destruction by fire or other insured casualty, a waiver of the insurer's right of subrogation against the Landlord, or if such waiver should be unobtainable or unenforceable (i) an express agreement that such policy shall not be invalidated if the insured waives or policies have been renewed has waived before the casualty the right of recovery against any party responsible for a casualty covered by the policy, or replaced (ii) any other form of permission for the release of the Landlord.
(f) Tenant agrees to permit any representatives of insurance companies insuring the Facility or are no longer insuring any items required by this Tenant Agency Compliance Lease Agreement to inspect the Facility pursuant to Section 5.5 of this Lease Agreement. The Tenant shall provide further agrees to comply with any and all recommendations made by such further information representatives in connection with respect to inspections of the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably requireFacility.
Appears in 1 contract
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Section 5.1(a) Hereof shall name the Agency Compliance Agreement as a named insured and the insurance required by Section 5.1(c) shall name the Agency as an additional insured. All insurance shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating GuideState. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Company is engaged. All policies of evidencing such insurance required by Section 2.1 hereof shall provide (i) for at least payment of the losses of the Company and the Agency as their respective interest may appear, and (ii) that the insurance company shall endeavor to give thirty (30) days days' prior written notice or such other notice as the policy provides for, of the cancellation thereof to the Agency of Company and the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insuredAgency. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds.
(b) The certificate of insurance required by Section 2.1(c) hereof shall be delivered to the Agency on or before the date hereof. A copy of the such certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting insurers indicating that there such insurance is in full force and effect, with a term covering the current year of the Tenant’s insurance policyand all policies (if applicable), insurance of the types and in the amounts required by Section 2.1 hereof and complying shall be deposited with the additional requirements of Section 2.2(a) Agency on the date hereof. Prior to the expiration of each any such policy or policiesevidenced by said certificates, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or with evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Project Agreement. The Tenant Nothing contained in this Project Agreement shall provide such further information be deemed to modify the obligations of the Company pursuant to any mortgage for the benefit of a Lender (as defined in the Leaseback Agreement) with respect to insurance or the insurance coverage required by this Tenant application of the proceeds thereof, other than such proceeds that are derived from the Agency’s Unassigned Rights (as defined in the Leaseback Agreement). The Agency Compliance Agreement as expressly acknowledges that any Lender shall, if and to the extent provided in such mortgage in which the Agency may is a party (or such mortgage in which the Agency has otherwise acknowledged), control the collection, use and application of the proceeds of the property insurance, provided that any PILOT Payment arrears, any out of pocket amounts actually incurred or paid or to be paid by the Agency (including reasonable attorney’s fees and costs) and any other amounts paid in connection with the Agency’s Unassigned Rights are first satisfied from time the foregoing proceeds. The obligations of the Company hereunder shall be independent of any such other obligations relating to time reasonably requireinsurance.
Appears in 1 contract
Samples: Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Section 6.4(a) and (e) hereof shall contain a standard New York non-contributory mortgagee clause showing the interest of any Lender and shall provide for payment to any Lender of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder to the extent required by the Mortgage, and all policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency and any Lender of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency and any Lender as an additional insuredinsureds. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency Agency, the Company and the Tenant any Lender as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Sections 6.4(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 6.4(d)(ii), (iii) and (iv) as an additional insured on a primary and non- contributory basis xxx XXX xxxxxxxxxxxx XX 00 00 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificate certificates of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency and the Lender on or before the date hereofClosing Date. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency and any Lender on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and the Lender and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency may from time to time reasonably require.
(d) The minimum insurance requirements set forth under Section 6.4 and this Section
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and selected by reasonably satisfactory to the entity required to procure the sameLessor. The company or companies issuing the policies required by Section 2.1(aSections 6.3(A) hereof shall be rated “A” or better by A.M. Best Co., Inc. in the most recent edition of Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Company is engaged. All policies of evidencing such insurance required by Section 2.1 hereof shall name the Company and the Lessor as insureds, as their interests may appear, and provide for at least thirty (30) days prior days’ written notice to the Agency of Company and the restrictionLessor prior to cancellation, cancellation lapse, reduction in policy limits or modification material change in coverage thereof. The policy evidencing the All insurance required by Section 2.1(c) hereof hereunder shall name be in form, content and coverage satisfactory to the Agency as an additional insuredLessor. All policies evidencing Certificates satisfactory in form and substance to the Lessor to evidence all insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds.
(b) The certificate of insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Lessor on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Company shall deliver to the Agency Lessor on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month December l reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 6.3 and complying with the additional requirements of Section 2.2(a) 6.4 hereof. Prior At least thirty (30) days prior to the expiration of each any such policy or policiespolicy, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or Lessor evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information Lease.
(A) All premiums with respect to the insurance coverage required by this Tenant Agency Compliance Agreement Section 6.3 hereof shall be paid by the Company; provided, however, that if the premiums are not timely paid, the Lessor may pay such premiums and the Company shall pay immediately upon demand all sums so expended by the Lessor, together with interest, to the extent permitted by law, at a rate equal to two percent (2%) per month from the date on which such payment was due until the date on which the payment is made.
(B) (1) The Company shall not take out separate insurance concurrent in form or contributing in the event of loss with that required to be maintained under Section 6.3 unless the Lessor is included therein as the Agency may from time to time reasonably requirea named insured.
Appears in 1 contract
Samples: Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty ten (3010) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c2.1(b) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(iic)(ii) and (iv) shall name the Agency and the Tenant as additional insureds.
(b) The certificate of insurance required by Section 2.1(c2.1(b) hereof shall be delivered to the Agency on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii2.1(c)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering the current year of the Tenant’s insurance policy, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
Appears in 1 contract
Samples: Lease and Project Agreement (Chembio Diagnostics, Inc.)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof hereby shall be rated “AA-” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty twenty (3020) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c2.1(b) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant insured as additional insuredsits interests may appear.
(b) The endorsement naming the Agency as an additional insured and a certificate of the insurance required by Section 2.1(c2.1(b) hereof shall be delivered to the Agency on or before the date hereof. A copy of the certificates endorsement and a certificate of insurance required by Section 2.1(d)(ii2.1(c)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premisesconstruction. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a1) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the samesame and authorized to write such insurance in the State. The company issuing the policies required by Section 2.1(a) 6.4 hereof shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Sections 6.4(a) and (e) hereof shall provide for payment to the Trustee of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder, and all policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days' prior written notice to the Agency of the restriction, cancellation or modification thereofthereof to the Issuer and the Trustee. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency Issuer and the Trustee as an additional insurednamed insureds. All policies evidencing the insurance required by Section 2.1 (d)(iiSections 6.4(d)(ii) and (iv) hereof shall name the Agency Issuer, the Trustee and the Tenant Institution as additional named insureds. Upon request of the Trustee or the LOC Bank, the Institution will assign and deliver to the Trustee and the LOC Bank, as their interest may appear, the policies of insurance required under Section 6.4(a), so and in such manner and form that the Trustee, as applicable, shall at all times, upon such request and until the payment in full of the Bonds, have and hold said policies and the Net Proceeds thereof as collateral for the payment of the Bonds and until all obligations of the Institution to the Trustee have been satisfied. The policies under Section 6.4(a) shall contain appropriate waivers of subrogation.
(b2) The policies or certificates (or binders) of insurance required by Sections 6.4(a) and (e) hereof shall be deposited with the Trustee on or before the Closing Date. A copy of the policy or certificate (or binder) of insurance required by Section 2.1(c6.4(c) hereof shall be delivered to the Agency Issuer on or before the date hereofClosing Date. A copy of the policies or certificates (or binders) of insurance required by Section 2.1(d)(iiSections 6.4(d)(ii) and (iv) hereof shall be delivered to the Agency Issuer and the Trustee on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Institution shall deliver to the Agency Issuer and the Trustee before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policiespolicy, the Tenant Institution shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or with evidence that such policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Institution shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency Issuer and the Trustee may from time to time reasonably require.
Appears in 1 contract
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insuredsinsureds on a primary and noncontributory basis with any coverage held by the Agency, if any. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.
(b) The certificate certificates of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency may from time to time reasonably require.
Appears in 1 contract
Samples: Lease and Project Agreement (Chembio Diagnostics, Inc.)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Section 6.4 (a) and (e) hereof shall contain a standard New York non-contributory mortgagee clause showing the interest of any Lender and shall provide for payment to any Lender of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder, and all policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency and any Lender of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency and any Lender as an additional insuredinsureds. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Company acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Agency to any Lender pursuant to the Mortgage, and the Company consents thereto. Upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.
(b) The certificate policies (or certificates or binders) of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the policy (or certificates or binders) of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency and any Lender before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency and any Lender may from time to time reasonably require.
Appears in 1 contract
Samples: Lease Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company insurance companies issuing the policies required by Section 2.1(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of evidencing the insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereof. thereof The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 2.1(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Sublessees as additional insureds. The policies under Sections 2.1(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 2.1(d)(ii), (iii) and (iv) as an additional insured on a primary and non-contributory basis via ISO endorsements CG 20 26 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificate policies (or certificates or binders) of insurance required by Section 2.1(cSections 2.1(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the policies (or certificates or binders) of insurance required by Section 2.1(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Sublessees shall deliver or cause to be delivered to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier .earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. hereof Prior to the expiration of each such policy or policies, the Tenant Sublessees shall furnish or cause to be furnished to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant Sublessees shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
(d) The minimum insurance requirements set forth under Section 2.1 and this Section 2.2 shall not limit, abridge, or modify the Sublessee's obligation under Section 4.2 hereof to indemnify and hold the Agency harmless from and against certain damages, losses, liabilities, obligations, penalties, claims, litigation, demands, defenses, judgments, suits, actions, proceedings, costs, disbursements or expenses, as more fully set forth in Section 4.2.
Appears in 1 contract
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds. The policies required under Sections 2.1(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 2.1(d)(ii), (iii) and (iv) as an additional insured on a primary and non- contributory basis xxx XXX xxxxxxxxxxxx XX 00 00 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificate of insurance required by Section 2.1(c) hereof shall be delivered to the Agency on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering the current year of the Tenant’s insurance policy, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
(d) The minimum insurance requirements set forth under Section 2.1 and this Section
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. , The company issuing the policies required by Section 2.1(a6,4(a) hereof and (c) shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Sections 6,4(a) and (e) hereof shall contain a standard New York non-contributory mortgagee clause showing the interest of the Mortgagee as first mortgagee, shall provide for payment to the Mortgagee of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder and all policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereofthereof to the Agency and the Mortgagee. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency and the Mortgagee as an additional insurednamed insureds. All policies evidencing the insurance required by Section 2.1 Sections 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional named insureds.. The Company acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Agency to the Mortgagee pursuant to the Mortgage and the Company consents thereto, Upon request of the Mortgagee, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under the Mortgage) to the Mortgagee, the policies of insurance required under Section 6.4(a), so and in such manner and form that the Mortgagee shall at all times, upon such request and until the payment in full of the Loan, have and hold said policies and the Net Proceeds thereof, as collateral and further security under the Mortgage for the payment of the Loan. The policies under Section 6.4(a) shall contain appropriate waivers of subrogation. Nothing contained in this Lease Agreement is intended to limit or modify any insurance requirements set forth in the Mortgage
(b) The policies (or certificates or binders) of insurance required by Sections 6.4(a) and (e) hereof shall be deposited with the Mortgagee on or before the Closing Date. A copy of the policy (or certificate or binder) of insurance required by Section 2.1(c6.4(c) hereof shall be delivered to the Agency on or before the date hereofC1osing Date. A copy of the policies (or certificates or binders) of insurance required by Section 2.1(d)(iiSections 6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant company shall deliver to the Agency and the Mortgagee before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(e) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a on new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. , The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency and the Mortgagee may from time to time reasonably require.
Appears in 1 contract
Samples: Lease Agreement (CVD Equipment Corp)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 4.03 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Corporate Guarantor and authorized to write such insurance in the State and selected by satisfactory to the entity required to procure the sameHolder. The company Corporate Guarantor or companies issuing the policies required by Section 2.1(aSections 4.03(A) hereof shall be rated “"A” " or better by A.M. Best Co., Inc. in the most recent edition of Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Corporate Guarantor is engaged. All policies of evidencing the insurance required by Section 2.1 4.03 (A) hereof shall name the Corporate Guarantor as insured and the Holder as mortgagee and loss payee under a lender's loss payable endorsement, as their interests may appear, and all policies evidencing the insurance required by Section 4.03 hereof shall provide for at least thirty (30) days prior days' written notice to the Agency of Corporate Guarantor and the restrictionHolder prior to cancellation, cancellation lapse, reduction in policy limits or modification material change in coverage thereof. The policy evidencing the insurance required by Section 2.1(cSections 4.03(A) and 4.03(D) hereof shall name be fully paid for and shall contain a standard non-contributory mortgagee endorsement in favor of the Agency Holder as an additional insuredmortgagee and loss payee. All policies evidencing the insurance required by Section 2.1 (d)(ii) hereunder shall be in form and (iv) shall name content reasonably satisfactory to the Agency Holder. Certificates satisfactory in form and substance to the Tenant as additional insureds.
(b) The certificate of Holder to evidence all insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Holder on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Corporate Guarantor shall deliver to the Agency Holder on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month December l reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 4.03 and complying with the additional requirements of Section 2.2(a) 4.04 hereof. Prior to the expiration of each any such policy or policiespolicy, the Tenant Corporate Guarantor shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or Holder evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably requirehereby.
Appears in 1 contract
Samples: Security Agreement (Balchem Corp)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.
(b) The certificate certificates of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.by
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Section 6.4
(a) and (e) hereof shall contain a standard New York non-contributory mortgagee clause showing the interest of any Lender and shall provide for payment to any Lender of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder, and all policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency and any Lender of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency and any Lender as an additional insuredinsureds. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Company acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Agency to any Lender pursuant to the Mortgage, and the Company consents thereto. Upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation. Nothing contained in this Lease Agreement is intended to limit or modify any insurance requirements set forth in any Mortgage.
(b) The certificate policies (or certificates or binders) of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the policy (or certificates or binders) of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency and any Lender before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency and any Lender may from time to time reasonably require.
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty (30) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds. The policies required under Sections 2.1(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 2.1(d)(ii), (iii) and (iv) as an additional insured on a primary and non-contributory basis xxx XXX xxxxxxxxxxxx XX 00 00 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificate of insurance required by Section 2.1(c) hereof shall be delivered to the Agency on or before the date hereof. The certificate of insurance required by Section 2.1(b) hereof shall be delivered to the Agency by such date as required therein. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised Premises. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering the current year of the Tenant’s insurance policy, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
(d) The minimum insurance requirements set forth under Section 2.1 and this Section 2.2 shall not limit, abridge, or modify the Tenant’s obligation under Section 3.2 hereof to indemnify and hold the Agency harmless from and against certain damages, losses, liabilities, obligations, penalties, claims, litigation, demands, defenses, judgments, suits, actions, proceedings, costs, disbursements or expenses, as more fully set forth in Section 3.2.
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (aA) All insurance required by this Tenant Agency Compliance Agreement Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and selected by satisfactory and having a Best rating satisfactory to the entity required to procure Issuer and the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating GuideTrustee. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Company is engaged. All policies of evidencing such insurance required by Section 2.1 hereof shall name the Company and the Issuer as insureds and the Trustee and the Bank, as security holders and loss payees, as their interests may appear, and provide for at least thirty (30) days prior days' written notice to the Agency of Company, the restrictionIssuer, cancellation the Trustee and the Bank prior to cancellation, lapse, reduction in policy limits or modification material change in coverage thereof. The policy evidencing the insurance required by Section 2.1(c6.3(A) hereof shall name contain a standard mortgagee endorsement and a lender's loss payable clause endorsement in favor of the Agency Trustee and the Bank, as an additional insuredsecurity holders and loss payees, as their interests may appear. All policies evidencing the insurance required by Section 2.1 (d)(ii) hereunder shall be in form, content and (iv) shall name coverage satisfactory to the Agency Issuer and the Tenant as additional insureds.
(b) The certificate of Bank. Certificates satisfactory in form and substance to the Issuer and the Bank to evidence all insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Issuer, the Trustee and the Bank on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Company shall deliver to the Agency Issuer and the Trustee on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month November 1 reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 6.3 and complying with the additional requirements of Section 2.2(a) 6.4 hereof. Prior At least thirty (30) days prior to the expiration of each any such policy or policiespolicy, the Tenant Company shall furnish to the Agency Issuer, the Trustee and any other appropriate Person a new policy or policies of insurance or the Bank evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Installment Sale Agreement. The Tenant shall provide such further information .
(B) All premiums with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as Section 6.3 hereof shall be paid by the Agency Company; provided, however, that, if the premiums are not timely paid, the Issuer, the Trustee or the Bank may from time to time reasonably requirepay such premiums and the Company shall pay immediately upon demand all sums so expended by the Issuer, the Trustee or the Bank, together with interest at the Default Interest Rate.
Appears in 1 contract
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a) and (e) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii2.1(d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds.
(b) The certificate A copy of the insurance policies required by Section 2.1(c2.1(a), (c), and (e) hereof shall be delivered to deposited with the Agency on or before the date hereof. A copy of the certificates of insurance policies required by Section 2.1(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 hereof and complying with the additional requirements of Section 2.2(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall at all times be in form and substance satisfactory to the Agency, and procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and State, selected by the entity required to procure the same, and approved by the Agency. The company issuing the policies required by Section 2.1(a6.4(a), (b), (c) hereof and (d) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may shall be written with deductible amounts comparable acceptable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engagedAgency. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereofthereof and contain waivers of subrogation in favor of the Company, the Agency and all Indemnified Parties. The policy evidencing the insurance required by Section 2.1(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii6.4(c) and (iv) hereof shall name the Agency and all Indemnified Parties as an additional insured on a primary/non-contributory basis, including completed operations. The coverages provided under Section 6.4 shall not contain any exclusions or limitations related to construction or renovation activities, or so-called “Action Over” claims, including claims which result in injury to employees, contractors, subcontractors, or casual or temporary labor. The Agency acknowledges that a mortgage and security interest in the Tenant policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as additional insuredscollateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4 shall contain appropriate waivers of subrogation, shall provide that such coverages shall be primary, irrespective of any other insurance that may be maintained by the Company, the Agency or otherwise, and shall be specific to the Phase 2B Facility, and no other locations, and non-contributory.
(b) The certificate policies of insurance required by Section 2.1(c6.4(a), (b), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the certificates The policies of insurance required by Section 2.1(d)(ii6.4(d) as well as up to date policies of insurance required by Section 6.4(a), (b), (c), and (ive) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate satisfactory evidence, dated not earlier than the immediately preceding month month, reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.At least thirty
Appears in 1 contract
Samples: Phase 2b Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Lessee and authorized to write such insurance in the State and selected by satisfactory to the entity required to procure the sameLessor. The company or companies issuing the policies required by Section 2.1(aSections 6.3(C) hereof shall be rated “"A” " or better by A.M. Best Co., Inc. in the most recent edition of Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Lessee is engaged. All policies of evidencing such insurance required by Section 2.1 hereof shall name the Lessee and the Lessor as insureds, as their interests may appear, and provide for at least thirty (30) days prior days' written notice to the Agency of Lessee and the restrictionLessor prior to cancellation, cancellation lapse, reduction in policy limits or modification material change in coverage thereof. The policy evidencing the insurance required by Section 2.1(cSections 6.3(A), 6.3(C), 6.3(D) and 6.3(F) hereof shall name the Agency as an additional insuredbe fully paid for. All policies evidencing the insurance required by Section 2.1 (d)(ii) hereunder shall be in form, content and (iv) shall name coverage satisfactory to the Agency Lessor. Certificates satisfactory in form and substance to the Tenant as additional insureds.
(b) The certificate of Lessor to evidence all insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Lessor on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Lessee shall deliver to the Agency Lessor on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month December 1 reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 6.3 and complying with the additional requirements of Section 2.2(a) 6.4 hereof. Prior At least thirty (30) days prior to the expiration of each any such policy or policiespolicy, the Tenant Lessee shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or Lessor evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant shall provide In addition, in the event of a change of use, operation or value of the Project Facility, or in the availability of insurance in the area in which the Project Facility is located, the Lessee shall, within five (5) days after the Lessor's request, take out such further information with respect to the additional insurance coverage required by this Tenant Agency Compliance Agreement as the Agency Lessor may from time to time reasonably require.
Appears in 1 contract
Samples: Lease Agreement (Ace Hardware Corp)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 4.14. hereof shall be procured and maintained in financially sound and generally recognized responsible with insurance companies selected by the entity required to procure the same and authorized to write such insurance in the State and selected by acceptable to the entity required to procure the same. The company issuing the policies required by Section 2.1(a) hereof shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating GuideBank. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity College is engaged. All policies evidencing insurance coverages required by subsections (b) and (c) of Section 4.14 hereof shall name the Issuer, the College and the Bank as insureds. All policies evidencing insurance coverages required by Section 2.1 hereof shall provide for at least thirty (304.14(a) days prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(cand 4.14(d) hereof shall name the Agency College as an additional insured. All policies evidencing the insurance required by Section 2.1 (d)(ii) hereunder shall be in form, content and (iv) shall name coverage reasonably satisfactory to the Agency Issuer and the Tenant as additional insureds.
(b) Bank and shall not contain any coinsurance provisions nor blanket coverage with existing policies. The original policy, or a certificate evidencing insurance, of all insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Issuer and the Bank on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant College shall deliver to the Agency Issuer and the Bank, on or before the first Business Day in December of each calendar year thereafter a certificate dated not earlier than the immediately preceding month November 1st, reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding twelve (12) months, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 4.14 and complying with the additional requirements of Section 2.2(a) 4.15 hereof. Prior At least thirty (30) days prior to the expiration of each any such policy or policiespolicy, the Tenant College shall furnish to the Agency Issuer and any other appropriate Person a new policy or policies of insurance or the Bank, evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance Bond Purchase Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably requireTHE PARTIES HERETO ACKNOWLEDGE THAT THE ISSUER DOES NOT IN ANY WAY REPRESENT THAT THE INSURANCE SPECIFIED HEREIN, WHETHER IN SCOPE OF COVERAGE OR LIMITS OF COVERAGE, IS ADEQUATE OR SUFFICIENT FOR THE PURPOSES CONTEMPLATED HEREUNDER OR TO PROTECT THE OPERATION OF THE FACILITY OR THE BUSINESS, OPERATIONS OR FINANCIAL CONDITION OF THE COLLEGE.
Appears in 1 contract
Additional Provisions Respecting Insurance. (aA) All insurance required by this Tenant Agency Compliance Agreement Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and selected by satisfactory to the entity required to procure Issuer and the sameBank. The company or companies issuing the policies required by Section 2.1(aSections 6.3(A) hereof and 6.3(F) shall be rated “"A” " or better by A.M. Best Co., Inc. in the most recent edition of Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity Company is engaged. All policies of evidencing such insurance shall name the Company and the Issuer as insureds, policies evidencing insurance as required by Section 2.1 hereof 6.3(A) shall name the Bank as mortgagee and loss payee, as its interest may appear, and provide for at least thirty (30) days prior days' written notice to the Agency Company, the Issuer and the Bank prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof and shall contain a standard mortgagee endorsement in favor of the restrictionBank as mortgagee and loss payee, cancellation or modification thereofas its interest may appear. The policy evidencing the All insurance required by Section 2.1(c) hereof hereunder shall name be in form, content and coverage satisfactory to the Agency as an additional insuredIssuer and the Bank. All policies evidencing Binders satisfactory in form and substance to the Issuer and the Bank to evidence all insurance required by Section 2.1 (d)(ii) and (iv) shall name the Agency and the Tenant as additional insureds.
(b) The certificate of insurance required by Section 2.1(c) hereof hereby shall be delivered to the Agency Issuer and the Bank on or before the date hereof. A copy of the certificates of insurance required by Section 2.1(d)(ii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesClosing Date. The Tenant Company shall deliver to the Agency Issuer and the Bank on or before the first Business Day of each calendar year thereafter a certificate binder dated not earlier than the immediately preceding month November 15th reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance in the amounts and of the types and in the amounts required by Section 2.1 hereof Sections 6.3 and complying with the additional requirements of Section 2.2(a) 6.4 hereof. Prior At least thirty (30) days prior to the expiration of each any such policy or policiespolicy, the Tenant Company shall furnish to the Agency Issuer and any other appropriate Person a new policy or policies of insurance or the Bank evidence that such the policy or policies have has been renewed or replaced or are is no longer required by this Tenant Agency Compliance the Installment Sale Agreement. The Tenant shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Agreement as the Agency may from time to time reasonably require.
Appears in 1 contract
Samples: Installment Sale Agreement (Spurlock Industries Inc)
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days' prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.
(b) The certificate certificates of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency may from time to time reasonably require.
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be in form and substance satisfactory to the Agency, and procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Sections 6.4(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 6.4(d)(ii), (iii) and (iv) as an additional insured on a primary and non- contributory basis via ISO endorsements CG 20 26 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificates of insurance required by Section 6.4(a), (c) and (e) hereof shall be deposited with the Agency on or before the Closing Date. The certificate of insurance required by Section 2.1(c6.4(b) hereof shall be delivered to deposited with the Agency on or before the date hereofat such times as provided therein. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy certificate or policies certificates of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency may from time to time reasonably require, including, without limitation, a copy of the insurance policy.
(d) The minimum insurance requirements set forth under Section 6.4 and this Section
Appears in 1 contract
Samples: Lease and Project Agreement
Additional Provisions Respecting Insurance. (a) All insurance required by this Tenant Agency Compliance Agreement Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 2.1(a6.4(a) hereof and (e) shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 2.1 6.4 hereof shall provide for at least thirty (30) days days' prior written notice to the Agency of the restriction, cancellation or modification thereof. thereof The policy evidencing the insurance required by Section 2.1(c6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 2.1 6.4(d)(ii), (d)(iiiii) and (iv) shall name the Agency and the Tenant Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Sections 6.4(a), (b) and (c) shall contain appropriate waivers of subrogation.
(b) In addition, each contractor must protect the Agency with respect to the policies required under Section 6.4(d)(ii), (iii) and (iv) as an additional insured on a primary and non-contributory basis via ISO endorsements CG 20 26 and CG 20 37 or their equivalents and the endorsements must specifically identify the Agency as an additional insured.
(c) The certificate certificates of insurance required by Section 2.1(c6.4(a), (c) and (e) hereof shall be delivered to deposited with the Agency on or before the date hereofClosing Date. A copy of the certificates of insurance required by Section 2.1(d)(ii6.4(d)(ii), (iii) and (iv) hereof shall be delivered to the Agency on or before the commencement of any construction or renovation of the Demised PremisesConstruction Period. The Tenant Company shall deliver to the Agency before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding month reciting that there is in full force and effect, with a term covering at least the current year of the Tenant’s insurance policynext succeeding calendar year, insurance of the types and in the amounts required by Section 2.1 6.4 hereof and complying with the additional requirements of Section 2.2(a6.5(a) hereof. hereof Prior to the expiration of each such policy or policies, the Tenant Company shall furnish to the Agency and any other appropriate Person a new policy or policies of insurance or evidence that such policy or policies have been renewed or replaced or are no longer required by this Tenant Agency Compliance Lease Agreement. The Tenant Company shall provide such further information with respect to the insurance coverage required by this Tenant Agency Compliance Lease Agreement as the Agency may from time to time reasonably require.
(d) The minimum insurance requirements set forth under Section 6.4 and this Section 6.5 shall not limit, abridge, or modify the Company's obligation under Section 8.2 hereof to indemnify and hold the Agency harmless from and against certain damages, losses, liabilities, obligations, penalties, claims, litigation, demands, defenses, judgments, suits, actions, proceedings, costs, disbursements or expenses, as more fully set forth in Section 8.2.
Appears in 1 contract
