Common use of Company Insurance Clause in Contracts

Company Insurance. (a) The Company shall maintain liability insurance covering personal injury and property damage as provided below, which insurance shall name each Jurisdiction as an additional insured for claims arising out of the Company’s negligence. From time to time, as reasonably requested by the Jurisdictions and upon each change in the insurance carried by the Company, the Company shall provide the Jurisdictions written evidence that the insurance required this Agreement is in place and in full force and effect. Failure of the Company to obtain and maintain the insurance required under the pursuant to the terms of this Agreement shall be deemed to an Event of Default for purposes of Section 10.3(b). (b) The Company shall obtain and maintain, at its sole cost and expense, the following insurance coverage: (i) workers compensation insurance as required by Applicable Law, with a deductible amount of not greater than $500,000, together with employer’s liability insurance with limit of liability of not less than $1,000,000, with a deductible amount of not greater than $500,000; (ii) commercial general liability and property damage primary insurance with a broad form contractual liability endorsement and products/completed operations endorsement having a minimum combined single limit of liability of $1,000,000 per occurrence, with a deductible amount of not greater than $250,000; (iii) comprehensive automobile liability primary insurance applicable to all owned, hired and non-owned vehicles having a minimum combined single limit of liability of $1,000,000 per occurrence, with a deductible amount of not greater than $250,000; (iv) excess liability insurance having a minimum limit of liability of $2,000,000 per occurrence, total coverage of at least $50,000,000, and a self-insured retention of $250,000 or less; and (v) insurance for loss, damages or destruction to the Facility (including boiler and machinery) caused by “broad form” peril in an amount at all times equal to the full replacement value of the Facility (including, to the extent available on commercially reasonable terms, insurance for such loss caused by flood or earthquake), with a deductible amount not to exceed $250,000, except coverage for wind and earthquake which shall have a deductible amount not to exceed $500,000. Each policy obtained to satisfy Sections 7.3(b)(ii) through (v) above shall designate “The City of Alexandria, Virginia and the County Board of Arlington County, Virginia and their elected and appointed officials, employees and agents” as additional insureds for claims arising out of the Company’s negligence. (c) The Company shall obtain and maintain, at its sole cost and expense, pollution liability insurance with limits not less than $2,000,000 per occurrence and $6,000,000 annual aggregate, and shall require all haulers delivering Solid Waste to the Facility to obtain and maintain commercial general liability insurance and commercial automobile insurance with limits not less than $1,000,000 per occurrence and $2,000,000 annual aggregate. Each policy obtained to satisfy the requirements of this Section 7.3(c) shall designate “The City of Alexandria, Virginia and the County Board of Arlington County, Virginia and their elected and appointed officials, employees and agents” as additional insureds for claims arising out of the Company’s or haulers’ negligence. All insurance policies required to be secured and maintained by the Company under this Agreement shall provide that each insurance company shall have no recourse against the Jurisdictions for payment of any premiums or for assessments under any form of policy.

Company Insurance. (a) The Company shall maintain liability insurance covering personal injury and property damage as provided below, which insurance shall name each Jurisdiction as an additional insured for claims arising out of the Company’s negligence. From time to time, as reasonably requested by the Jurisdictions and upon each change in the insurance carried by the Company, the Company shall provide the Jurisdictions written evidence that the insurance required this Agreement is in place and in full force and effect. Failure of the Company to obtain and maintain the insurance required under the pursuant to the terms of this Agreement shall be deemed to an Event of Default for purposes of Section 10.3(b). (b) The Company shall obtain and maintain, at its sole cost and expense, the following insurance coverage: (i) workers compensation insurance as required by Applicable Law, with a deductible amount of not greater than $500,000, together with employer’s liability insurance with limit of liability of not less than $1,000,000, with a deductible amount of not greater than $500,000; (ii) commercial general liability and property damage primary insurance with a broad form contractual liability endorsement and products/completed operations endorsement having a minimum combined single limit of liability of $1,000,000 per occurrence, with a deductible amount of not greater than $250,000; (iii) comprehensive automobile liability primary insurance applicable to all owned, hired and non-owned vehicles having a minimum combined single limit of liability of $1,000,000 per occurrence, with a deductible amount of not greater than $250,000; (iv) excess liability insurance having a minimum limit of liability of $2,000,000 per occurrence, total coverage of at least $50,000,000, and a self-insured retention of $250,000 or less; and (v) insurance for loss, damages or destruction to the Facility (including boiler and machinery) caused by “broad form” peril in an amount at all times equal to the full replacement value of the Facility (including, to the extent available on commercially reasonable terms, insurance for such loss caused by flood or earthquake), with a deductible amount not to exceed $250,000, except coverage for wind and earthquake which shall have a deductible amount not to exceed $500,000. Each policy obtained to satisfy Sections 7.3(b)(ii) through (v) above shall designate “The City of Alexandria, Virginia and the County Board of Arlington County, Virginia and their elected and appointed officials, employees and agents” as additional insureds for claims arising out of the Company’s negligence. (c) The Company shall obtain and maintain, at its sole cost and expense, pollution liability insurance with limits not less than $2,000,000 6,000,000 per occurrence and $6,000,000 2,000,000 annual aggregate, and shall require all haulers delivering Solid Waste to the Facility to obtain and maintain commercial general liability insurance and commercial automobile insurance with limits not less than $1,000,000 per occurrence and $2,000,000 annual aggregate. Each policy obtained to satisfy the requirements of this Section 7.3(c) shall designate “The City of Alexandria, Virginia and the County Board of Arlington County, Virginia and their elected and appointed officials, employees and agents” as additional insureds for claims arising out of the Company’s or haulers’ negligence. All insurance policies required to be secured and maintained by the Company under this Agreement shall provide that each insurance company shall have no recourse against the Jurisdictions for payment of any premiums or for assessments under any form of policy.