ADJUSTMENT OF INSURANCE CLAIMS Sample Clauses

ADJUSTMENT OF INSURANCE CLAIMS. Construction Manager shall adjust all claims with its insurers. However, Construction Manager shall not adjust any liability claims without the prior written consent of the Owner unless the effect of such adjustment shall be to release the Owner and all Indemnitees from all liability with respect to such claims and liabilities asserted therein. Further, Construction Manager shall not adjust any property claims without prior written consent of the Owner unless the effect is to make the Owner whole and protect the Owner's financial interest in the proceeds of the claim.
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ADJUSTMENT OF INSURANCE CLAIMS. 21 5.3 Application of Insurance Proceeds..................................................................................... 21 5.4 Condemnation Proceeds Payable to Lender............................................................................... 22 5.5 Application of Condemnation Proceeds.................................................................................. 22 5.6 Conditions Applicable if Restoration Permitted........................................................................ 22 Article VI
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ADJUSTMENT OF INSURANCE CLAIMS. In case of loss covered by policies of ------------------------------ insurance, Lender is hereby authorized, at Lender's option, either (i) to settle and adjust any claim under such policies without the consent of Borrower, or (ii) to allow Borrower to agree with the insurance company or companies on the amount to be paid upon the loss; provided that Borrower may adjust losses aggregating not in excess of $250,000 if such adjustment is carried out in a competent and timely manner, and provided that in any case Lender shall and is hereby irrevocably authorized by Borrower to collect any such insurance proceeds; and the expenses incurred by Lender in the adjustment and collection of insurance proceeds shall be part of the Indebtedness and shall be reimbursed to Lender upon demand, and shall bear interest at the Default Rate.
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ADJUSTMENT OF INSURANCE CLAIMS. Borrower shall give prompt Notice to Lender of any Casualty or Claim affecting any Obligor or the Collateral. Lender is authorized, at its sole and absolute option, to commence, appear in and prosecute, in its own or Borrower’s name, any action or proceeding relating to any Casualty, and to make proof of loss for and to settle or compromise any Claim in connection therewith. In such case, Lender shall have the right to receive all Insurance Proceeds and may deduct therefrom all of its Expenses. However, so long as no Event of Default has occurred and Borrower is diligently pursuing its rights and remedies with respect to a Claim, Lender will obtain Borrower’s written consent (which consent shall not be unreasonably withheld or delayed) before making proof of loss for or settling or compromising such Claim. Borrower agrees to diligently assert its rights and remedies with respect to each Claim and to promptly pursue the settlement and compromise of each Claim subject to Lender’s approval, which approval shall not be unreasonably withheld or delayed. Within ten (10) days after Borrower’s receipt of any Insurance Proceeds, Borrower shall deliver such awards or proceeds to Lender in the form in which they were received, together with any endorsements or documents that may be necessary to effectively negotiate or transfer the awards or proceeds to Lender. Borrower agrees to execute and deliver from time to time, upon the request of Lender, such further instruments or documents as may be requested by Lender to confirm the grant and assignment to Lender of any Insurance Proceeds.
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ADJUSTMENT OF INSURANCE CLAIMS. Borrower may adjust, compromise and settle any insurance claim subject to compliance with and satisfaction of all of the following terms and conditions: (a) Lender shall have received prompt written notice from Borrower of any material Casualty to the Security Property; (b) no Noticed Default or Event of Default exists; (c) Borrower shall keep Lender currently advised, in reasonable detail, as to the status of all negotiations and proceedings and shall promptly give to Lender copies of all material documents received or delivered in connection with such negotiations or proceedings; (d) Lender shall be entitled, at Lender’s election, to participate in any negotiations or proceedings if Lender deems it necessary to do so in order to protect Lender’s interest in the Security Property or to prevent Lender’s security for the Indebtedness from being impaired; and (e) any adjustment, compromise or settlement of any claim for a Casualty exceeding Two Million Dollars ($2,000,000) shall be subject to Lender’s prior written approval, which approval shall not be unreasonably withheld. During the existence of a Notice of Default or an Event of Default, Lender shall be entitled, at Lender’s sole option, to either (i) settle and adjust any claim under such policies with the reasonable approval of Borrower, or (ii) allow Borrower to settle or adjust any claim under such policies with the prior written approval of Lender, which approval shall not be unreasonably withheld. Lender shall be and is hereby authorized by Borrower to collect any such Casualty insurance proceeds, and the reasonable costs and expenses incurred by Lender in the collection and adjustment of Casualty insurance proceeds shall constitute Lender Expenses and be secured hereby as part of the Indebtedness, shall be due and payable upon demand and any amount due and payable hereunder to Lender which is not paid within ten (10) Business Days after written demand therefor from Lender shall bear interest from the date of such demand at the Default Rate.
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ADJUSTMENT OF INSURANCE CLAIMS. Construction Manager shall adjust all claims with its insurers. However, Construction Man liability claims without the prior written consent of the Owner unless the effect of such adju the Owner and all Indemnitees from all liability with respect to such claims and liabilities a Construction Manager shall not adjust any property claims without prior written consent of t is to make the Owner whole and protect the Owner’s financial interest in the proceeds of th xxxxx in such ent shall be to release xxx xxxxxxx. Further, wner unless the effect im. name the d an orig ent, the ag Ow inal ent ner and of the may so Article 8 and the General
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Related to ADJUSTMENT OF INSURANCE CLAIMS

  • Adjustment of Impositions Impositions imposed in respect of the tax-fiscal period during which the Term terminates shall be adjusted and prorated between Lessor and Lessee, whether or not such Imposition is imposed before or after such termination, and Lessee’s obligation to pay its prorated share thereof after termination shall survive such termination.

  • Losses Net of Insurance, Etc The amount of any Tax or Loss for which indemnification is provided under Section 6.5(d), Section 7.1 or Section 7.2 shall be net of (i) any amounts recovered by the applicable Indemnified Party pursuant to any indemnification by or indemnification agreement with any third party, and (ii) any insurance proceeds or other cash receipts or sources of reimbursement received with respect to such Tax or Loss, and (iii) in the case of Purchaser Parent as the Indemnifying Party, any amounts recovered by the Purchaser pursuant to the Contribution Agreement, dated as of April 22, 2014, by and among Purchaser Parent, Purchaser and Novartis AG, as amended (the source of any such amounts referred to in clause (i) or (ii), a “Collateral Source”), in each case net of any Taxes imposed or reasonable out-of-pocket costs incurred in connection with the collection of such insurance proceeds, cash receipts or sources of reimbursement. The applicable Indemnified Party shall use its commercially reasonable efforts to seek recovery for such Taxes or Losses from all Collateral Sources. The Indemnifying Party may require an Indemnified Party to assign to the Indemnifying Party the rights to seek recovery from any Collateral Sources (to the extent such rights are capable of assignment); provided that the Indemnifying Party will then be responsible for pursuing such claim at its own expense; provided, further, that the Indemnified Party shall cooperate (at the Indemnifying Party’s expense) with the Indemnifying Party to seek such recovery. If the amount to be netted hereunder from any payment required under Section 6.5(d) or this Article VII is determined after payment by the Indemnifying Party of any amount otherwise required to be paid to an Indemnified Party pursuant to Section 6.5(d) or this Article VII, the Indemnified Party shall repay to the Indemnifying Party, promptly after such determination, any amount that the Indemnifying Party would not have had to pay pursuant to Section 6.5(d) or this Article VII had such determination been made at the time of such payment.

  • Amount of Insurance Coverage shall be provided with a limit of not less than $1,000,000.

  • Cost of Insurance The cost of all insurance required herein to be secured and maintained by Engineer shall be borne solely by Engineer, with certificates of insurance evidencing such minimum coverage in force to be filed with County. Such Certificates of Insurance are evidenced as Exhibit F herein entitled “Certificates of Insurance.”

  • Proof of Insurance The Recipient will: (a) provide to the Province, either: (i) certificates of insurance that confirm the insurance coverage as provided for in section A10.1; or (ii) other proof that confirms the insurance coverage as provided for in section A10.1; and (b) upon the request of the Province, provide to the Province a copy of any insurance policy.

  • Assignment of Insurance As additional security for the payment and performance of the Obligations, the Borrower hereby assigns to the Lender any and all monies (including, without limitation, proceeds of insurance and refunds of unearned premiums) due or to become due under, and all other rights of the Borrower with respect to, any and all policies of insurance now or at any time hereafter covering the Collateral or any evidence thereof or any business records or valuable papers pertaining thereto, and the Borrower hereby directs the issuer of any such policy to pay all such monies directly to the Lender. At any time, whether or not a Default Period then exists, the Lender may (but need not), in the Lender's name or in the Borrower's name, execute and deliver proof of claim, receive all such monies, endorse checks and other instruments representing payment of such monies, and adjust, litigate, compromise or release any claim against the issuer of any such policy.

  • 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.

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • Certificate of Insurance/Endorsements A certificate of insurance from an insurer with a Best's rating of no less than A- indicating compliance with the required coverages has been received by State Procurement Bureau, X.X. Xxx 000000, Xxxxxx, XX 00000-0000. The certificates must name the State of Montana as certificate holder and Contractor shall provide copies of additional insured endorsements required by Contractor’s commercial general liability and automobile liability policies. Contractor must notify State immediately of any material change in insurance coverage, such as changes in limits, coverages, change in status of policy, etc. State reserves the right to require complete copies of insurance policies at all times.

  • Certificate of Insurance Contractor must provide a Certificate of Insurance form to the City of Sparks to evidence the insurance policies and coverage required of Contractor.

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