AGGREGATE LIMIT OF INSURANCE Sample Clauses

AGGREGATE LIMIT OF INSURANCE. The Company's total liability for all loss discovered during the Bond Period regardless of when paid, will not exceed the Aggregate Limit of Insurance as set forth in ITEM 6. of the Declarations. Such Aggregate Limit of Insurance will be reduced, and may be exhausted, by the amount of any payment under any Insuring Agreement for any loss discovered during that Bond Period. The reduced Aggregate Limit of Insurance will then become the Aggregate Limit of Insurance. Upon exhaustion of the Aggregate Limit of Insurance by such payment: SPECIMEN 1. the Company will have no further liability under any Insuring Agreements for any loss discovered during that Bond Period, whether or not previously reported to the Company; and 2. upon notice by the Company to the Insured that the Aggregate Limit of Insurance has been exhausted, the Company will have no further obligation for payment or indemnification of court costs and attorney’s fees as set forth in General Agreement G, with respect to any loss, claim or damage under any Insuring Agreement whether or not the Company has elected to defend any action thereunder. The Aggregate Limit of Insurance for any Bond Period will be reinstated by the amount of any applicable cash or ultimate cash equivalent recovery made by the Company and applied in accordance with Conditions J., K. and L.. The Aggregate Limit of Insurance for any Bond Period will not, however, be increased or reinstated by any remaining portion of an Aggregate Limit of Insurance from any previous Bond Period. The amount of any cash or ultimate cash equivalent recovery as set forth in the preceding paragraph will be net of any and all expenses incurred by the Company in effecting such recovery and will only serve to reinstate the Aggregate Limit of Insurance for the Bond Period in which the loss was discovered. In the event that a loss of Property is settled by the Company through the use of a lost instrument bond, such loss will not reduce the Aggregate Limit of Insurance.
Sample 1
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AGGREGATE LIMIT OF INSURANCE. The Company’s total liability for all loss discovered during any one Bond Period, regardless of when paid, will not exceed the applicable Aggregate Limit of Insurance as set forth in ITEM 6 of the Declarations. Such Aggregate Limit of Insurance for a Bond Period will be reduced, and may be exhausted, by the amount of any payment under any applicable Insuring Agreement for any loss discovered during that Bond Period. Upon exhaustion of such Aggregate Limit of Insurance by any such payment: 1. the Company will have no further liability under any applicable Insuring Agreement for any loss discovered during that Bond Period, whether or not previously reported to the Company; and 2. upon notice by the Company to the Insured that such Aggregate Limit of Insurance has been exhausted, the Company will have no further obligation for payment or indemnification of court costs and attorney’s fees as set forth in General Agreement G., with respect to any loss, claim, or damage under any applicable Insuring Agreement, whether or not the Company has elected to defend any action thereunder. The Aggregate Limits of Insurance for any Bond Period will be reinstated by the amount of any applicable cash or ultimate cash equivalent recovery made by the Company and applied in accordance with Conditions J., K., and
Sample 1

Related to AGGREGATE LIMIT OF INSURANCE

  • Minimum Limits of Insurance CONSULTANT shall maintain limits no less than: 1. Commercial General Liability: $1,000,000 per occurrence for bodily injury, personal injury and property damage. If Commercial Liability Insurance or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to this project/location or the general aggregate limit shall be twice the required occurrence limit; and 2. Automobile Liability: $1,000,000 combined single limit per accident for bodily injury and property damage; and

  • 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.

  • Minimum Scope and Limits of Insurance Contractor shall provide coverage with limits of liability not less than those stated below.

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

  • Excess Liability Insurance $___________________ minimum required insurance policy for anything other than General Liability or Automobile coverage. ☐ - Additional Insurance Requirement: Client, Contractor, and any other entity which the Contractor is required to name as an additional insured under the Prime Contract shall be named as additional insureds under the General Liability Insurance required by this Section and any such insurance afforded to the additional insureds shall apply as primary insurance. Any other insurance maintained by the Client or Contractor shall be excess insurance and shall not be called upon to contribute to Subcontractor’s primary or excess insurance carrier’s duty to defend or indemnify unless required by law. The excess insurance required above shall also afford additional insured protection to Client and Contractor. This Section shall in no event be construed to require that additional insured insurance coverage be provided to a greater extent than permitted under the statutes or public policy governed under State law. Certificates of Insurance. Certificates of insurance, and the required additional insured and other endorsements, including waivers of subrogation shall be furnished to Contractor before the performance of any Services.

  • Umbrella/Excess Liability Insurance Umbrella or Excess Liability Insurance with limits not less than Two Million Dollars ($2,000,000.00) per occurrence, which will provide additional limits for employers’ general insurance and shall cover the Board and its employees, subject to that of the primary coverage.

  • Limits of Insurance A. CLIENT shall provide evidence of General Liability insurance or Tenants Liability Insurance (TULIP at xxxxx://xxxxx.xxxxxx.xxx/ ) of an amount of not less than $1 million per occurrence. If the use of facilities includes physical activities, such as sports camps, the General Liability limit shall be $2 million per occurrence with no athletics activities exclusion. B. CLIENT shall provide evidence of Owned, Non-owned and Hired Auto Liability insurance of an amount of not less than $1 million per occurrence. C. Any CLIENT with CLIENT employees on USI/HNH property shall provide evidence of statutory Workers Compensation insurance and $500,000 of Employers Liability insurance. D. Any CLIENT with minors on USI/HNH properties shall provide evidence of Sexual Misconduct/ Abuse Liability insurance of an amount of not less than $1 million per occurrence. Coverage endorsed onto the General Liability policy is acceptable. (Such coverage for weddings and family reunions is excluded.) E. CLIENT serving alcohol per current Institution alcohol policy must provide Host Liquor liability of $1 million per occurrence. F. CLIENT shall require all third-party vendors that provide any type of service (caterer, beer and wine, bartending, disc jockey, band, limo service, etc.) to CLIENT while utilizing USI/HNH’s facilities to provide to CLIENT and USI/HNH a certificate of insurance with the following limits and conditions and naming USI/HNH as additional insured.

  • Excess/Umbrella Liability Policies Required insurance coverage limits may be provided through a combination of primary and excess/umbrella liability policies. If coverage limits are provided through excess/umbrella liability policies, then a Schedule of underlying insurance listing policy information for all underlying insurance policies (insurer, policy number, policy term, coverage and limits of insurance), including proof that the excess/umbrella insurance follows form must be provided after renewal and/or upon request.

  • Commercial Umbrella Liability Insurance The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers' Compensation and Employers' Liability to satisfy the minimum limits set forth herein. The umbrella coverage shall follow form with the Umbrella limits required as follows: $ 2,000,000 per Occurrence $2,000,000 per Occurrence $ 4,000,000 Aggregate $10,000,000 Aggregate Additional Requirements for Commercial Umbrella Liability Insurance are shown below at Paragraph 1.5.3.3.6.

  • 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.”

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