Adequacy of Insurance Coverage Sample Clauses

Adequacy of Insurance Coverage. Neither Company nor Project Owner warrant the adequacy of the types of insurance or the limits required. The insurance requirements, including the limits required for Additional Insured coverage, do not limit Your legal responsibilities and liabilities. If the insurance requirements specified by Project Owner in the Prime Contract are greater than what is required in this Exhibit A, You are bound by those greater requirements and shall immediately obtain the required coverage and limits. Company has no duty to You or to any of Your insurers or their insurance agents to review any Certificates of Insurance or copies of other insurance documents furnished to Company to determine whether Your insurance complies with the insurance requirements of the Contract/Agreement. Failure of Company to detect that You have not submitted Certificates of Insurance or proper Certificates of Insurance, or are otherwise not in compliance with the insurance-related provisions of the Contract/Agreement shall not be considered a waiver or other impairment of any of Company's rights, and shall not in any way limit or relieve You of Your obligations to maintain the insurance required in the Contract/Agreement. You bear the sole responsibility for ensuring Your insurance meets the requirements of the Contract/Agreement.
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Adequacy of Insurance Coverage. (a) The adequacy of the insurance coverage required by this Article IX may be reviewed periodically by the City. The City may request a change in the insurance coverage if it is commercially reasonable, customary and commonly available regarding properties similar in type, size, use and location to the Leased Property and Lessee Improvements provided that such coverage is available at commercially reasonable rates (including without limitation, fiduciary liability and directors’ and officers’ liability insurance); (b) SAMP has the right to contest the request for a change in insurance, but must be commercially reasonable; and (c) XXXX agrees that City may, if it so elects, have the Lessee Improvements appraised, at the City's sole cost and expense, for purposes of obtaining the proper amount of insurance hereunder. Any review by the City shall not constitute an approval or acceptance of the amount of insurance coverage.
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Adequacy of Insurance Coverage. All property of Tenant kept or stored on the Demised Premises shall be so kept or stored at the sole risk of Tenant. Tenant expressly acknowledges and agrees that it is solely responsible for insuring its personal property, improvements, betterments, and the other contents of the Demised Premises at its sole cost and expense. Landlord makes no representation or warranty that the limits of insurance coverage required to be carried by Tenant pursuant to this Lease are adequate to protect Tenant. If Tenant believes that additional insurance coverage is required, Tenant shall be solely responsible for obtaining such coverage as it deems necessary or sufficient.
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Adequacy of Insurance Coverage. City May Procure Insurance if SAMP Fails To Do So. ...............................
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Adequacy of Insurance Coverage. (a) The adequacy of the insurance coverage required by this Article IX may be reviewed periodically by the City in its sole discretion. The City may request a change in the insurance coverage if it is commercially reasonable, customary and commonly available regarding properties similar in type, size, use and location to the Leased Property and Developer Improvements provided that such coverage is available at commercially reasonable rates (including without limitation, fiduciary liability and directors and officers liability insurance); (b) Developer has the right to contest the request for a change in insurance, but must be commercially reasonable; (c) Developer agrees that City may, if it so elects, have the Developer Improvements appraised for purposes of obtaining the proper amount of insurance hereunder. Any review by the City shall not constitute an approval or acceptance of the amount of insurance coverage; and (d) In the event that insurance proceeds are not adequate to rebuild and restore the damaged Developer Improvements to their previous condition before an insurable loss occurred, and the cause of the deficiency in insurance proceeds is the Developer’s failure to adequately insure Developer Improvements as required by this Lease, Developer shall rebuild and restore such Developer Improvements pursuant to the terms hereof and shall pay any such deficiency notwithstanding the fact that such insurance proceeds are not adequate.
Sample 1
Adequacy of Insurance Coverage. The City has the unilateral right to periodically review the adequacy of the insurance coverage required by this Agreement. The City may require a change in the insurance coverage if the coverage requested is customary and commonly available for properties similar in type, size, use and location to the Premises
Sample 1
Adequacy of Insurance Coverage. The CRA has the unilateral right to periodically review the adequacy of the insurance coverage required by this Agreement. The CRA may request a change in the insurance coverage if the requested change is commercially reasonable, and the coverage requested is customary and commonly available for properties similar in type, size, use and location to the CRA Property and improvements (including without limitation, environmental liability insurance, fiduciary liability, and directors and officers liability insurance). Developer has the right to contest the request for a change in insurance, but such contest must be commercially reasonable.
Sample 1
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Adequacy of Insurance Coverage. 1. The adequacy of the insurance coverage required by this section 16. may be reviewed periodically by the TPA in its reasonable discretion. The TPA may request a change in the insurance coverage, if it is commercially reasonable; provided, that such coverage is available at commercially reasonable rates. 2. The CONSULTANT has the right to contest the request for a change in insurance but must be commercially reasonable.
Sample 1
Adequacy of Insurance Coverage. The City has the unilateral right to periodically review the adequacy of the insurance coverage required by this Agreement. The City may request a change in the insurance coverage if the requested change is commercially reasonable, and the coverage requested is customary and commonly available for properties similar in type, size, use and location to the Property and Improvements (including without limitation, environmental liability insurance, fiduciary liability, and directors and officers liability insurance). Operator has the right to contest the request for a change in insurance, but must be commercially reasonable. Inadequacy of Insurance Proceeds. In the event that insurance proceeds are not adequate to rebuild and restore damaged Improvements to their previous condition before an insurable loss occurs, and the cause of the deficiency in insurance proceeds is the Operator’s failure to adequately insure the Improvements as required by this Agreement, Operator must rebuild and restore the Improvements as required by this Agreement and will be responsible for payment of any costs of the rebuilding and restoration not covered by the insurance proceeds.
Sample 1

Related to Adequacy of Insurance Coverage

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Insurance Coverages (a) Borrower will maintain such insurance coverages and endorsements in form and substance and in amounts as Lender may require in its sole discretion, from time to time except to the extent such coverages and endorsements are not reasonably commercially available and further provided such coverages and endorsements are not more onerous to Borrower than the types and amounts Lender requires for other properties that are similar in type or location as the Property. Until Lender notifies Borrower of changes in Lender’s requirements, Borrower will maintain not less than the insurance coverages and endorsements Lender required for closing of the Loan except to the extent such coverages and endorsements are not commercially available and are more onerous to Borrower than the types and amounts Lender requires for other properties that are similar in type or location as the Property. (b) The insurance, including renewals, required under this Section will be issued on valid and enforceable policies and endorsements satisfactory to Lender (the "Policies"). Each Policy will contain a standard waiver of subrogation and a replacement cost endorsement and will provide that Lender will receive not less than 30 days’ prior written notice of any cancellation, termination or non-renewal of a Policy or any material change other than an increase in coverage and that Lender will be named under a standard mortgage endorsement as loss payee. (c) The insurance companies issuing the Policies (the "Insurers") must be authorized to do business in the State or Commonwealth where the Property is located, must have been in business for at least 5 years, must carry an A.M. Best Company, Inc. policy holder rating of A-or better and an A.M. Best Company, Inc. financial category rating of (i) Class X or better for all primary liability coverage and the first 80% of liability coverage and (ii) Class VIII or better for all secondary and remaining liability coverage and must be otherwise satisfactory to Lender. Lender may select an alternative credit rating agency and may impose different credit rating standards for the Insurers. Notwithstanding Xxxxxx’s right to approve the Insurers and to establish credit rating standards for the Insurers, Lender will not be responsible for the solvency of any Insurer. (d) Notwithstanding Xxxxxx’s rights under this Article, Xxxxxx will not be liable for any loss, damage or injury resulting from the inadequacy or lack of any insurance coverage. (e) Borrower will comply with the provisions of the Policies and with the requirements, notices and demands imposed by the Insurers and applicable to Borrower or the Property. (f) Borrower will pay the Insurance Premiums for each Policy not less than 30 days before the expiration date of the Policy being replaced or renewed and will deliver to Lender an original or, if a blanket policy, a certified copy of each Policy marked "Paid" not less than 15 days prior to the expiration date of the Policy being replaced or renewed. Borrower shall have the right to pay Insurance Premiums pursuant to an arrangement with one or more finance companies for the financing of certain blanket insurance policies maintained by Borrower under a Property Insurance Sharing Agreement among Borrower and certain of its affiliates (a "Blanket Insurance Premium Financing Arrangement"). Pursuant to such an arrangement Borrower will pay to such finance companies Borrower’s allocable share of the annual initial deposit for the applicable Insurance Premiums (the "Deposit") and Borrower’s allocable share of ten (10) regular monthly payments (the "Regular Payments") due for each blanket policy. The term "Financing Installment" as used herein means 1/12th of the aggregate of the Deposit and the Regular Payments for each annual period, as such amounts may be adjusted as hereafter set forth. Not less than twenty (20) days prior to each renewal date of each blanket policy, Borrower will provide Beneficiary in writing the estimated premium for such blanket policy for the following renewal period, and not less than ten (10) days after the renewal date, Borrower will provide Beneficiary in writing the actual amount of such premium. Borrower will also notify Beneficiary in writing within ten (10) days after any change in the amounts allocated to the Property under the Blanket Insurance Premium Financing Arrangement or any other change in premiums or amounts due from Borrower under the Blanket Insurance Premium Financing Arrangement. Thereafter, the "Financing Installment" shall be adjusted as reasonably determined by Beneficiary. In the event of any material change in the Blanket Insurance Premium Financing Arrangement, the foregoing provisions shall be modified as reasonably determined by Beneficiary in order to carry out the intent and purposes thereof.

  • Evidence of Insurance Cover All insurances obtained by the Concessionaire in accordance with this Article 32 shall be maintained with insurers on terms consistent with Good Industry Practice. Within 15 (fifteen) days of obtaining any insurance cover, the Concessionaire shall furnish to the Authority, notarised true copies of the certificate(s) of insurance, copies of insurance policies and premia payment receipts in respect of such insurance, and no such insurance shall be cancelled, modified, or allowed to expire or lapse until the expiration of at least 45 (forty five) days after notice of such proposed cancellation, modification or non-renewal has been delivered by the Concessionaire to the Authority.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below. The specifications for all reinsurance under this Agreement are provided in Schedule A. A. Requirements for Automatic Reinsurance For risks which meet the requirements for automatic reinsurance as set forth below, Reinsurer will participate in a reinsurance Pool whereby Reinsurer will automatically reinsure a portion of the insurance risks as indicated in Schedule A. The requirements for automatic reinsurance are as follows: 1. The individual risk must be a resident of the United States or Canada at the time of application. 2. The individual risk must be underwritten according to the Ceding Company's standard underwriting practices and guidelines. This individual risk will be determined to be a true Table 1,2,3 or 4 based on the Ceding Company's normal underwriting guidelines and will be issued as a Standard Risk. 3. Any risk offered on a facultative basis by the Ceding Company to the Reinsurer or any other company will not qualify for automatic reinsurance under this Agreement for the same risk and same life. 4. The minimum issue age on any risk will be age 5 and the maximum issue age on any risk will be age 75. B. Basis of Reinsurance Reinsurance under this Agreement will be on the basis as stated in Schedule B. C. Policy Forms When requested, the Ceding Company will furnish the Reinsurer with a copy of each policy, rider, rate book, and applicable sales or marketing material that applies to the life insurance reinsured hereunder.

  • Proof of Insurance Coverage As preliminary evidence of compliance with the insurance required by the contract, the company will furnish the Authority with a certificate(s) of insurance satisfactory to the Authority. This certificate must be signed by an authorized representative of the insurer. If requested by the Authority, the company will, within 15 days after receipt of written request from the Authority, provide the Authority, or make available for review, certificates of insurance, copies of required endorsements and/or a certified complete copy of the policies of STANDARD PROCEDURE Number: S250.06 Effective: 05/31/02 Aviation Authority Revised: 12/11/14 Page: 4 of 7 Subject: CONTRACTUAL INSURANCE TERMS AND CONDITIONS insurance. The company may redact those portions of the insurance policies that are not relevant to the coverage required by the contract. The company will provide the Authority with renewal or replacement evidence of insurance, acceptable to the Authority, prior to expiration or termination of such insurance. The insurance certificate must: a. Indicate that, to the extent required by the contract: i. the Authority, members of the Authority's governing body, and the Authority's officers, volunteers and employees are included as Additional Insureds on all policies other than workers compensation and professional liability, and ii. the insurers for all policies have waived their subrogation rights against the Authority; b. Indicate that the certificate has been issued in connection with the contract; c. Indicate the amount of any deductible or self-insured retention applicable to all coverages; d. Identify the name and address of the certificate holder as: Hillsborough County Aviation Authority Attn.: Chief Executive Officer Tampa International Airport Post Office Box 22287 Xxxxx, Xxxxxxx 00000 and; e. Be signed and dated using approved methods by an individual who is an authorized representative of each insurer, whose insurance is the subject of STANDARD PROCEDURE Number: S250.06 Effective: 05/31/02 Aviation Authority Revised: 12/11/14 Page: 5 of 7 Subject: CONTRACTUAL INSURANCE TERMS AND CONDITIONS the certificate and who is authorized by each such insurer to issue the certificate of insurance as modified. Facsimile signatures are acceptable.

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • Insurance Cover Without prejudice to the provisions contained in Clause 26.1, the Concessionaire shall, during the Operation Period, procure and maintain Insurance Cover including but not limited to the following: (a) Loss, damage or destruction of the Project Assets, including assets handed over by the Authority to the Concessionaire, at replacement value; (b) Comprehensive third party liability insurance including injury to or death of personnel of the Authority or others caused by the Project; (c) The Concessionaire’s general liability arising out of the Concession; (d) Liability to third parties for goods or property damage; (e) Workmen’s compensation insurance; and (f) any other insurance that may be necessary to protect the Concessionaire and its employees, including all Force Majeure Events that are insurable at commercially reasonable premiums and not otherwise covered in items(a) to (e) above.

  • Evidence of Insurance Receipt by the Administrative Agent of copies of insurance policies or certificates of insurance of the Loan Parties evidencing liability and casualty insurance meeting the requirements set forth in the Loan Documents, including, but not limited to, naming the Administrative Agent as additional insured (in the case of liability insurance) or loss payee (in the case of hazard insurance) on behalf of the Lenders.

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