Additional Required Insurance Sample Clauses
The "Additional Required Insurance" clause mandates that one party must obtain and maintain specific types or amounts of insurance coverage beyond standard requirements. This may include policies such as professional liability, cyber liability, or increased coverage limits, and often requires the insured party to provide proof of such coverage to the other party. The core function of this clause is to ensure that adequate financial protection is in place for particular risks associated with the agreement, thereby allocating risk and safeguarding both parties against potential losses.
Additional Required Insurance. Owner may elect at any time during the term of this Agreement to require Construction Manager to procure and maintain other or additional insurance. Notice of such election shall be given at least sixty (60) days prior to the effective date of the required modifications. Any additional costs incurred by these parties in securing insurance shall be reimbursed by Owner as a part of the Cost of the Work, and the Guaranteed Maximum Price shall be revised by Change Orders to be increased by the amount of such additional reimbursement.
Additional Required Insurance. The Contractor shall agree to maintain the following additional required insurance coverages with respect to any Work involving property, operations, or type of equipment for which each insurance coverage described below have been designed specifically to provide coverage for:
Additional Required Insurance. Subrecipient shall maintain insurance, subject to all the applicable requirements provided above, in the following amounts:
Additional Required Insurance. Contractor shall maintain insurance, subject to all the applicable requirements provided above, in the following amounts: Breach of Privacy, Security Breach, Denial of Service, Remediation, Fines and Penalties $5,000,000
Additional Required Insurance. Notwithstanding anything to the contrary set forth in this Section 2.03, the Collateral Agent may at any time and from time to time require an increase in the amount or scope of coverage of any insurance maintained by the Grantor to cover any risks which, in the reasonable opinion of the Collateral Agent, are not adequately covered by the Grantor's insurance coverage then in effect.
Additional Required Insurance. The limits cited under each insurance requirement above establish minimums; and it is the sole responsibility of Tenant to purchase and maintain additional insurance that Tenant may determine to be necessary in relation to this Lease or its operation of the Premises.
Additional Required Insurance. The Construction Manager shall agree to maintain the following additional required insurance coverages with respect to any Work involving property, operations, or type of equipment for which each insurance coverage described below have been designed specifically to provide coverage for:
31.5.1 Builder's Risk. With respect to any of the Work involving the construction of real property (buildings and improvements other than buildings) during the construction Project, the Construction Manager shall maintain Builder’s Risk insurance providing coverage for the entire Work at the Project site and will also cover portions of Work located away from the site but intended for use at the site, and will also cover portions of the Work in transit. Coverage shall be written on an All-Risk, Replacement Cost, and Completed Value Form basis in an amount at least equal to the projected completed value of the Project as well as subsequent modifications of that sum. If a sublimit applies to the perils of wind or flood, the sublimit shall not be less than 25% of the projected completed value of the Project. The deductible shall be determined by mutual agreement of the parties as part of the execution of the GMP Amendment. Partial Occupancy or use of the Work shall not commence until insurance company or companies providing insurance as required have consented to such partial occupancy or use. Construction Manager shall take reasonable steps to notify and obtain consent of the insurance company or companies, and agree to take no action, other than upon mutual consent, with respect to occupancy or use of the Work that could lead to cancellation, lapse, or reduction of insurance. The coverage shall be kept in force until Substantial Completion has been obtained, or until no one but the Town has any property interest in the Project, or until Construction Manager and Town mutually consent to the termination, whichever occurs first. The Construction Manager agrees and understands the Town shall not provide any Builder’s Risk insurance on behalf of Construction Manager for loss or damage to Work, or to any other property of owned, hired, or borrowed by the Construction Manager. The Construction Manager shall be responsible for policy deductibles, coinsurance penalty, or self- insured retention including any loss not covered because of the operation of such deductible, coinsurance penalty, self-insured retention, or coverage exclusion or limitation on all perils with the exception of ...
Additional Required Insurance. SLWD shall, or shall cause, to be maintained the following additional required insurance coverages with respect to any Work involving property, operations, or type of equipment for which each insurance coverage described below have been designed specifically to provide coverage for: