Broker’s Letter of Undertaking Sample Clauses

Broker’s Letter of Undertaking. The Borrower will procure that every insurance broker who effects an insurance writes a broker’s letter of undertaking (substantially in the form set out in Schedule 16 (Broker’s Letter of Undertaking)) to the Security Agent. Such letters have to be provided prior to Financial Close with respect to insurances during the Construction Period and at least five (5) Banking Days prior to inception with respect to insurances during the Operation Period.
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Broker’s Letter of Undertaking. To: The Authority Dear Sirs Agreement dated[ ] entered into between [ ] Limited (the “PPP Co.”) and [ ] (the “Authority”) (the “Project Agreement”) We refer to the Project Agreement. Unless the context otherwise requires, terms defined in the Project Agreement will have the same meaning in this letter. We act as insurance broker to PPP Co. in respect of the Required Insurance and in that capacity we confirm that the Required Insurance which are required to be procured pursuant to Clause 45 (Insurance) and Schedule 23 of the Project Agreement; where appropriate name you and such other persons as are required to be named pursuant to the Project Agreement for their respective interests; are, in our reasonable opinion as insurance brokers, as at today’s date, in full force and effect in respect of all the matters specified in the Project Agreement; all premiums due to date in respect of the Required Insurance are paid and the Required Insurance are, to the best of our knowledge and belief, placed with insurers which, as at the time of placement, are reputable and financially sound. We do not, however, make any representations regarding such insurers’ current or future solvency or ability to pay claims; and the endorsements set out in Part 3 of Schedule 23 of the Project Agreement are as at today’s date in full force and effect in respect of the Required Insurance. We further confirm that the attached cover notes confirm this position. Pursuant to instructions received from PPP Co. and in consideration of your approving our appointment [or continuing appointment] as brokers in connection with the Required Insurance, we hereby undertake in respect of the interests of the Authority in relation to the Required Insurance: Notification Obligations to notify you at least 30 (thirty) days prior to the expiry of any of the Required Insurance if we have not received instructions from PPP Co. to negotiate renewal and in the event of our receiving instructions to renew, to advise you promptly of the details thereof; to notify you at least 30 (thirty) days prior to ceasing to act as brokers to PPP Co. unless, due to circumstances beyond our control, we are unable to do so in which case we will notify you as soon as practicable; and to pay into the Joint Insurance Account without set off or deduction of any kind of reason all payments in respect of claims received by us from insurers in relation to the Required Insurance specified in Clause 45.2 (Reinstatement) of the Proje...
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Broker’s Letter of Undertaking a letter of undertaking from the Contractor’s insurance broker as to the currency of each policy under, and the compliance of each policy with, the requirements of clause 70.2(a) (Specified Insurances) and clause 70.4(a) (General provisions relating to insurances) of the Base Agreement;
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Broker’s Letter of Undertaking. A Broker’s Letter of Undertaking by an Acceptable Insurance Broker to the Borrower, dated no earlier than the date of the initial Notice of Borrowing, duly executed and delivered and that sets forth the insurance obtained in accordance with the requirements of Section 8.05 and Schedule 8.05 and stating that such insurance (A) has been obtained and in each case is in full force and effect, (B) that such insurance materially complies with Section 8.05 and Schedule 8.05 and (C) that all premiums then due and payable on all insurance required to be obtained by the Borrower have been paid.
Sample 1
Broker’s Letter of Undertaking. Promptly (but in any event not later than 30 days) after the issuance, modification or renewal of any insurance policies required to be effected by the Company under this Section 9.2, the Company shall furnish the Collateral Agent with letters of undertaking, complete with a fleet lien waiver clause if applicable, from the relevant insurance broker with regard to such insurance policies and, in respect of the protection and indemnity entry, a letter of undertaking in a standard format issued by protection and indemnity clubs that are members of the International Group of P&I Clubs.
Sample 1
Broker’s Letter of Undertaking. On or prior to the Delivery Date in respect of each Drilling Unit (but in any event not later than thirty (30) days) after the issuance, modification or renewal of any insurance policies required to be effected by either Borrower under this Section 5.9), such Borrower shall furnish the Administrative Agent and the Collateral Agent with letters of undertaking, complete with fleet lien waiver clause if applicable, substantially in the form of Part D of Appendix C or otherwise in form and substance satisfactory to the Administrative Agent (acting on the instructions of the Required Lenders), from the relevant insurance broker with regard to such insurance policies and, in respect of the protection and indemnity entry, a letter of undertaking in a standard format issued by protection and indemnity clubs that are members of the International Group of P&I Clubs.
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Related to Broker’s Letter of Undertaking

  • Form of Undertaking Any written undertaking by the Indemnitee to repay any Expense Advances hereunder shall be unsecured and no interest shall be charged thereon.

  • Copies of policies; letters of undertaking Each Borrower shall ensure that all approved brokers provide the Security Trustee with pro forma copies of all policies relating to the obligatory insurances which they are to effect or renew and of a letter or letters of undertaking in a form required by the Security Trustee and including undertakings by the approved brokers that:

  • Authorization of Underwriting Agreement This Agreement has been duly authorized, executed and delivered by the Company.

  • Memorandum of Understanding Re: Nurses Committee The parties acknowledge that the Registered Nurses’ Union Newfoundland and Labrador (RNUNL) have indicated that they have issues of concern unique to Nurses who live and work in Labrador and that the RNUNL will attempt to address these concerns through a committee which will be established subsequent to these negotiations.

  • Special agreement Except for the termination of the Agreement due to the reason of Article 15, paragraph 1 of this Agreement, if the Agreement is terminated under any other circumstances, the payment made by Party B shall be regarded as Party B's liquidated damages, and Party A has the right not to return it.

  • Nature of Undertakings The undertakings given by you under this letter are given to us and (without implying any fiduciary obligations on our part) are also given for the benefit of the Borrower and each other member of the Group.

  • Indemnity Agreement The Indemnity Agreement Regarding Hazardous Materials made by the Borrower and Guarantors, in favor of the Agent and the Lenders, as the same may be modified, amended or ratified, pursuant to which each of the Borrower and the Guarantors agrees to indemnify the Agent and the Lenders with respect to Hazardous Substances and Environmental Laws.

  • Letter of Representations Notwithstanding anything to the contrary in this Indenture or the Series Supplement, the parties hereto shall comply with the terms of each Letter of Representations applicable to such party.

  • Indemnification Agreement Contractor hereby agrees to indemnify and hold harmless the Owner, the State of Georgia and its departments, agencies and instrumentalities and all of their respective officers, members, employees and directors (hereinafter collectively referred to as the "Indemnitees") from and against any and all claims, demands, liabilities, losses, costs or expenses, including attorneys' fees, due to liability to a third party or parties, for any loss due to bodily injury (including death), personal injury, and property damage arising out of or resulting from the performance of this Contract or any act or omission on the part of the Contractor, its agents, employees or others working at the direction of Contractor or on its behalf., or due to any breach of this Contract by the Contractor, or due to the application or violation of any pertinent Federal, State or local law, rule or regulation. This indemnification extends to the successors and assigns of the Contractor. This indemnification obligation survives the termination of the Contract and the dissolution or, to the extent allowed by law, the bankruptcy of the Contractor. If and to the extent such damage or loss (including costs and expenses) as covered by this indemnification is paid by the State Tort Claims Trust Fund, the State Authority Liability Trust Fund, the State Employee Broad Form Liability Fund, the State Insurance and Hazard Reserve Fund, and other self-insured funds (all such funds hereinafter collectively referred to as the "Funds") established and maintained by the State of Georgia Department of Administrative Services Risk Management Division (hereinafter "DOAS") the Contractor agrees to reimburse the Funds for such monies paid out by the Funds.

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