Common use of Blanket or Master Policy Clause in Contracts

Blanket or Master Policy. Any one or more of the types of insurance coverages required in Section 19.1 (except that the GL Policy for Project Improvements Work, GL Policy for Additional Work and Owner’s GL Policy shall have a general aggregate limit that shall be site specific to the Complex Site) may be obtained, kept and maintained through a blanket or master policy or excess/umbrella policies insuring other entities (such as Affiliates of Owner), provided that (a) such blanket or master policy or excess/umbrella policies and the coverage effected thereby comply with all applicable requirements of this Agreement and (b) the protection afforded under such blanket or master policy or excess/umbrella policies shall be no less than that which would have been afforded under a separate policy or policies relating only to the Complex Site. If any excess or umbrella liability insurance coverage required pursuant hereto is subject to an aggregate annual limit and is maintained through such blanket or master policy, and if such aggregate annual limit is impaired as a result of claims actually paid by more than fifty percent (50%), Owner shall immediately give Notice thereof to City and, within ninety (90) days after discovery of such impairment, to the fullest extent reasonably possible, cause such limit to be restored by purchasing additional coverage if higher excess limits have not been purchased.

Appears in 2 contracts

Samples: Grant and Development Agreement (Notes Live, Inc.), Grant and Development Agreement (Fresh Vine Wine, Inc.)

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Blanket or Master Policy. Any one or more of the types of insurance coverages required in Section 19.1 (except that the GL Policy for Project Improvements Work, GL Policy for Additional Work and OwnerTenant’s GL Policy shall have a general aggregate limit that shall be site specific to the Complex SiteLeased Premises) may be obtained, kept and maintained through a blanket or master policy or excess/umbrella policies insuring other entities (such as Affiliates of OwnerTenant), provided that (ai) such blanket or master policy or excess/umbrella policies and the coverage effected thereby comply with all applicable requirements of this Agreement Lease and (bii) the protection afforded under such blanket or master policy or excess/umbrella policies shall be no less than that which would have been afforded under a separate policy or policies relating only to the Complex SiteLeased Premises. If any excess or umbrella liability insurance coverage required pursuant hereto is subject to an aggregate annual limit and is maintained through such blanket or master policy, and if such aggregate annual limit is impaired as a result of claims actually paid by more than fifty percent (50%), Owner Tenant shall immediately give Notice thereof to City Landlord and, within ninety (90) calendar days after discovery of such impairment, to the fullest extent reasonably possible, cause such limit to be restored by purchasing additional coverage if higher excess limits have not been purchased.

Appears in 1 contract

Samples: Economic Development Agreement

Blanket or Master Policy. Any one or more of the types of insurance coverages required in Section 19.1 (except that the GL Policy for Project Improvements Work, GL Policy for Additional Work and OwnerTenant’s GL Policy shall have a general aggregate limit that shall be site specific to the Complex SiteLeased Premises) may be obtained, kept and maintained through a blanket or master policy or excess/umbrella policies insuring other entities (such as Affiliates of OwnerTenant), provided that (a) such blanket or master policy or excess/umbrella policies and the coverage effected thereby comply with all applicable requirements of this Agreement Lease and (b) the protection afforded under such blanket or master policy or excess/umbrella policies shall be no less than that which would have been afforded under a separate policy or policies relating only to the Complex SiteLeased Premises. If any excess or umbrella liability insurance coverage required pursuant hereto is subject to an aggregate annual limit and is maintained through such blanket or master policy, and if such aggregate annual limit is impaired as a result of claims actually paid by more than fifty percent (50%), Owner Tenant shall immediately give Notice thereof to City Landlord and, within ninety (90) days after discovery of such impairment, to the fullest extent reasonably possible, cause such limit to be restored by purchasing additional coverage if higher excess limits have not been purchased.

Appears in 1 contract

Samples: Lease and Development Agreement

Blanket or Master Policy. Any one or more of the types of insurance coverages required in Section Section 19.1 (except that the GL Policy for Project Improvements Work, GL Policy for Additional Work and OwnerTenant’s GL Policy shall have a general aggregate limit that shall be site specific to the Complex SiteLeased Premises) may be obtained, kept and maintained through a blanket or master policy or excess/umbrella policies insuring other entities (such as Affiliates of OwnerTenant), provided that (ai) such blanket or master policy or excess/umbrella policies and the coverage effected thereby comply with all applicable requirements of this Agreement Lease and (bii) the protection afforded under such blanket or master policy or excess/umbrella policies shall be no less than that which would have been afforded under a separate policy or policies relating only to the Complex SiteLeased Premises. If any excess or umbrella liability insurance coverage required pursuant hereto is subject to an aggregate annual limit and is maintained through such blanket or master policy, and if such aggregate annual limit is impaired as a result of claims actually paid by more than fifty percent (50%), Owner Tenant shall immediately give Notice thereof to City Landlord and, within ninety (90) calendar days after discovery of such impairment, to the fullest extent reasonably possible, cause such limit to be restored by purchasing additional coverage if higher excess limits have not been purchased.

Appears in 1 contract

Samples: Ground Lease Agreement

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Blanket or Master Policy. Any one or more of the types of insurance coverages required in Section 19.1 11.1 (except that the GL Policy for Project Improvements Work, GL Policy for Additional Work and OwnerLicensee’s GL Policy shall have a general aggregate limit that shall be site site-specific to the Complex SitePremises) may be obtained, kept and maintained through a blanket or master policy or excess/umbrella policies insuring other entities (such as the general partner(s) of Licensee, Affiliates of OwnerLicensee or the general partner(s) thereof), provided that (a) such blanket or master policy or excess/umbrella policies and the coverage effected thereby comply with all applicable requirements of this Agreement and (b) the protection afforded under such blanket or master policy or excess/umbrella policies shall be no less than that which would have been afforded under a separate policy or policies relating only to the Complex SitePremises. If any excess or umbrella liability insurance coverage required pursuant hereto is subject to an aggregate annual limit and is maintained through such the blanket or master policy, and if such aggregate annual limit is impaired as a result of claims actually paid by more than fifty percent (50%), Owner the Party who carries such policy hereunder shall immediately give Notice notice thereof to City the other Party and, within ninety (90) days after discovery of such impairment, to the fullest extent reasonably possible, shall cause such limit to be restored by purchasing additional coverage if higher excess limits have not been purchased.

Appears in 1 contract

Samples: Transaction Agreement

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