Borrower Insurance Sample Clauses

Borrower Insurance. Borrower shall maintain customary amounts of insurance covering, without limitation, fire, theft, burglary, public liability, property damage, product liability, workers' compensation, and liability arising from Borrower's collection of Contracts and sale of motor vehicles. Borrower shall pay all insurance premiums payable for such coverage and shall upon request of Lender deliver a copy of the policies of such insurance to Lender, together with evidence of payment of all premiums therefor.
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Borrower Insurance. Borrower represents that Borrower is self-insured for any loss or damage to the Inventory, but in the event that Borrower shall incur an otherwise insurable loss in any single occurrence of One Hundred Fifty Thousand Dollars ($150,000) or more with respect to the Inventory, then with respect to the Inventory, Borrower shall exercise good faith best effort to promptly seek and obtain Umbrella Liability Insurance in an amount equal to at least Ten Million Dollars ($10,000,000.00) and Comprehensive Insurance in an amount equal to at least Ten Million Dollars ($10,000,000.00) per occurrence and in the aggregate. Borrower shall provide Lender, or Lender's designees, with certificates as to policies of such insurance covering the Inventory together with evidence that the premium therefore has been paid and that Lender has been named as loss payee and additional insured on such policies. The proceeds of loss under such policies are hereby assigned to Lender. If Lender determines that Borrower has not maintained the required insurance coverage for the Inventory, Lender may, but has no obligation to, purchase a policy or policies of insurance (through forced placement or otherwise) any may treat amounts so expended as additional Indebtedness. The risk of loss or damage to the Collateral shall at all times remain solely with Borrower.
Sample 1
Borrower Insurance. Borrower shall obtain the following policies of insurance (collectively, the “Required Insurance”), shall provide Lender with originals or copies, certified as true and complete by the insurance carrier or its authorized representative, and evidence of payment of premiums, and, except as provided below, shall maintain the Required Insurance in force without interruption until the Loan is paid in full: (a) Before Closing, a commitment for a lender’s title insurance policy for the Premises with coverage of at least $jj. The form and content of the policy must be satisfactory to Lender in its sole discretion. Borrower shall cause the original to be delivered to Lender or its counsel within 20 Business Days after Closing; provided, however, Lender will extend this deadline a reasonable amount of time if a delay in delivery is beyond the reasonable control of Borrower or the Title Insurer. Upon Xxxxxx’s request, Borrower shall promptly obtain at its sole cost and deliver to Lender any endorsement to the policy that Xxxxxx deems necessary or desirable. Any other endorsement to the policy is subject to Xxxxxx’s prior approval. (b) Before Closing, a builder’s risk policy on a non-reporting, completed value basis. If the anticipated completed value increases during the course of construction due to a change order or other reason, Borrower shall increase the coverage under the policy by endorsement to cover the increased value. The policy shall provide “all risk” coverage for the Improvements and shall include coverage for demolition and increased cost of construction, loss of materials, equipment, machinery, or supplies on- or off-site or in transit, and all temporary structures. The policy shall provide that all claims for loss shall be payable to Lender without contribution by Xxxxxx, pursuant to a mortgagee clause satisfactory to Lender. If Borrower intends to occupy or permit tenants to occupy any part of the Improvements before final completion of all the Work, the policy shall contain an endorsement granting permission to occupy or, if such permission cannot be obtained and coverage under the policy terminates when a part of the Improvements is occupied, Borrower will be required to meet the requirements of section 3.06 (c) before such part may be occupied. Either the General Contractor or Borrower may obtain the policy required by this subsection, but, if the General Contractor obtains the insurance and if at any time before the completion of the Work, such ...
Sample 1
Borrower Insurance. Borrower will obtain a standard hazard insurance policy as required by the Security Instrument. This insurance will be effective immediately upon the closing of the Loan.
Sample 1

Related to Borrower Insurance

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Aircraft Liability Insurance (i) Except as provided in clause (ii) of this Section 7.06(a), and subject to the rights of Company to establish and maintain self-insurance in the manner and to the extent specified in Section 7.06(d), Company will carry, or cause to be carried, at no expense to Loan Trustee, aircraft liability insurance (including, but not limited to, passenger, contractual, bodily injury, personal injury, property damage, and products liability (exclusive of manufacturer’s product liability insurance and war risk, hijacking and allied perils insurance)) with respect to the Aircraft that is of the type as from time to time applicable to aircraft operated by Company (or, if a Lease in respect of the Aircraft is then in effect, by Permitted Lessee) of the same type as the Aircraft (A) in amounts that are not less than the aircraft liability insurance applicable to similar aircraft and engines in Company’s (or Permitted Lessee’s) fleet on which Company (or Permitted Lessee) carries insurance and operated by Company (or Permitted Lessee) on the same or similar routes as operated by the Aircraft; provided that such liability insurance shall not be less than the amount (the “Minimum Insurance Amount”) certified in the insurance report delivered to Loan Trustee and each Liquidity Provider on the Closing Date, and (B) that is maintained in effect with insurers of recognized responsibility. Any policies of insurance carried in accordance with this Section 7.06(a) and any policies taken out in substitution or replacement for any of such policies shall: (1) name Loan Trustee, Subordination Agent, each Pass Through Trustee and each Liquidity Provider as their Interests (defined below in this Section 7.06) may appear, as additional insureds (the “Additional Insureds”), (2) subject to the conditions of clause (3) below, provide that, in respect of the interest of each Additional Insured in such policies, the insurance shall not be invalidated by any action or inaction of Company, any Permitted Lessee, or any other insured (other than such Additional Insured) and shall insure each Additional Insured’s Interests as they appear, regardless of any breach or violation of any warranty, declaration or condition contained in such policies by Company, any Permitted Lessee or any other insured (other than such Additional Insured), (3) provide that, if such insurance is canceled for any reason, or if any change is made in the insurance that materially reduces the amount of insurance or the coverage certified in the insurance report delivered on the Closing Date to Loan Trustee and each Liquidity Provider, or if such insurance is canceled for nonpayment of premium, such cancellation or change shall not be effective as to any Additional Insured for 30 days after

  • 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.

  • 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.

  • Other Insurance Policies No action, inaction or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any applicable special hazard insurance policy, PMI Policy or bankruptcy bond, irrespective of the cause of such failure of coverage. In connection with the placement of any such insurance, no commission, fee, or other compensation has been or will be received by Seller or by any officer, director, or employee of Seller or any designee of Seller or any corporation in which Seller or any officer, director, or employee had a financial interest at the time of placement of such insurance.

  • All Risk Property Insurance (i) During construction, an All Risk Property insurance policy including earthquake and flood (with sublimits as appropriate) shall be maintained during the course of Work being performed and include Start-up and testing for installed equipment and delayed opening coverage. Such policy shall include coverage for materials and equipment while under the care, custody and control of the Seller during the course of Work, at the Site, offsite or while in transit to the Site.

  • Other Insurance If requested by the Director, Contractor shall furnish adequate evidence of Social Security and Unemployment Compensation Insurance, to the extent applicable to Contractor’s operations under this Agreement.

  • 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.

  • Group Insurance The Employer will continue to participate with employees in the provision of group life and medical plans as exist at the coming into force of this Agreement unless amended by mutual consent. The Employer agrees to pay 65% of the total premium cost for all employees covered by the health and dental care plans attached hereto and forming part of this Agreement.

  • Umbrella Insurance During the term of this Contract, Supplier will maintain umbrella coverage over Employer’s Liability, Commercial General Liability, and Commercial Automobile. Minimum Limits: $2,000,000