Corporation Insurance. Subject to Section 7.3, the Corporation shall obtain and maintain a policy or policies of insurance with one or more reputable insurance companies providing Indemnitee with coverage in such amount as will be determined by the Board of Directors for Losses and Expenses paid or incurred by Indemnitee as a result of acts or omissions of Indemnitee in his or her Corporate Status, and to ensure the Corporation’s performance of its indemnification obligations under this Agreement; provided, however, that in all policies of director and officer liability insurance obtained by the Corporation, Indemnitee shall be named as an insured party in such manner as to provide Indemnitee with the same rights and benefits as are afforded to the most favorably insured directors or officers, as applicable, of the Corporation under such policies. Any reductions to the amount of director and officer liability insurance coverage maintained by the Corporation as of the date hereof shall be subject to the approval of the Board of Directors to ensure the Corporation’s performance of its obligations under this Agreement.
Corporation Insurance. The Corporation will obtain and maintain D&O Insurance with one or more reputable insurance companies providing Indemnitee with coverage in such amount as is customary in the market for Losses and Expenses paid or incurred by Indemnitee as a result of acts or omissions of Indemnitee in his or her Corporate Status, and to ensure the Corporation’s performance of its indemnification obligations under this Agreement; provided, however, that in all policies of D&O Insurance obtained by the Corporation, Indemnitee will be named as an insured party; provided, further, for the duration of Indemnitee’s service in a Corporate Status, and thereafter for so long as Indemnitee may be subject to any possible Applicable Proceeding, the Corporation shall use reasonable efforts to continue to maintain in effect policies of D&O Insurance providing coverage that is substantially comparable in scope and amount to that provided by the Corporation to other Indemnitees. Upon request, the Corporation will provide to Indemnitee copies of all D&O Insurance applications, binders, policies, declarations, endorsements and other related materials.
Corporation Insurance. All insurance required of the Corporation on the GCEP Leased Premises shall be for the protection of the Department and the Corporation against their respective risks and liabilities in connection with the GCEP Leased Premises. A certificate of insurance shall be furnished to the Department Lease Administrator no later than thirty (30) days after the Execution Date of the GCEP Lease. The Corporation agrees that not less than thirty (30) days prior to the expiration of any insurance required by this Lease, it will furnish the Department Lease Administrator a certificate of insurance to cover the same risks. The Corporation shall maintain throughout the GCEP Lease Term and provide evidence of an amount of automobile and commercial general liability insurance coverage for bodily injury and property damage that is reasonably expected, and ordinarily carried by a like-sized corporation engaged in similar, but not necessarily identical, industrial activities to satisfy its legal requirements and discharge its obligations. Initially the amount of such insurance coverage for each incident shall not be less than one million dollars ($1,000,000) of automobile insurance and two million dollars ($2,000,000) for bodily injury and property damage, which minimum shall be revised by the Department, in consultation with the Corporation, every two (2) years to reflect a reasonable minimum amount. The Corporation shall also maintain workers’ compensation and other legally required insurance with respect to the Corporation’s employees and agents. Each policy of insurance against loss or damage to the Department’s property shall name the Corporation and the United States of America (Department of Energy) as loss payees as their interest may appear and shall contain a loss payable clause reading substantially as follows: “Payments for losses under the Corporation’s property insurance related to losses to the GCEP Leased Premises, if any, shall be adjusted with Corporation, and the proceeds shall be payable to Corporation and to the Treasurer of the United States of America, as their interests may appear.” Additionally, each property policy of insurance shall contain an endorsement reading substantially as follows: “The insurer waives any right of subrogation against the United States of America which might arise by reason of any payment made under this policy.”
Corporation Insurance. Corporation shall carry and maintain in full force and effect during the term of this Agreement and, without lapse, for a period of three years beyond the expiration or termination of this Agreement,, at its own expense, commercial general liability insurance, including coverage for bodily injury and personal injury, non-owned auto and property damage, all naming the Corporation and Manager, which insurance is adequate to protect their interests, on a per occurrence basis, for one million dollars ($1,000,000.00) combined single limit coverage along with an excess liability policy of an additional one million dollars ($1,000,000.00) or in the form and coverage amount commonly carried by reasonable owners of properties similar in type, location and value, whichever is greater. Corporation, on each of its insurance policies covering the Property, shall obtain from its insurers, waivers of subrogation against Manager and if applicable, Chaduco, Inc. Corporation agrees that it will not make any claim against or seek to recover from Agent for any loss or damage to the Property or Corporation that is coverable by such insurance. Corporation’s insurance shall provide primary coverage in relation to insurance carried by or available to Manager. The Corporation shall furnish to the Manager certificates evidencing the existence of such insurance and naming Manager as an additional named insured within thirty (30) days of the commencement of this Agreement. The insurance evidenced by the certificate attached hereto shall be deemed sufficient for the foregoing.
Corporation Insurance. The Corporation shall obtain and maintain a D&O Insurance Policy with one or more reputable insurance companies providing Indemnitee with coverage in such amount as will be determined by the Board of Directors for Expenses and Losses paid or incurred by Indemnitee as a result of acts or omissions of Indemnitee in his or her Corporate Status, and to ensure the Corporation’s performance of its indemnification obligations under this Agreement; provided, however, that in all D&O Insurance Policies obtained by the Corporation, Indemnitee shall be named as an insured party in such manner as to provide Indemnitee with the same rights and benefits as are afforded to the most favorably insured directors, managers or officers, as applicable, of the Corporation under such policies; provided, further, for the duration of Indemnitee’s service in a Corporate Status, and thereafter for so long as Indemnitee may be subject to any possible Proceeding, the Corporation shall use reasonable best efforts to continue to maintain in effect D&O Insurance Policies providing coverage that is at least substantially comparable in scope and amount to that provided by the Corporation’s current D&O Insurance Policies. Any reductions to the amount of D&O Insurance Policy coverage maintained by the Corporation as of the date hereof shall be subject to the approval of the Board of Directors to ensure the Corporation’s performance of its obligations under this Agreement. Upon request, the Corporation will provide to Indemnitee copies of all D&O Insurance Policy applications, binders, policies, declarations, endorsements and other related materials.
Corporation Insurance. The Corporation will obtain and maintain D&O Insurance with one or more reputable insurance companies providing Indemnitee with coverage in such amount as will be determined by the Board for Losses and Expenses paid or incurred by Indemnitee as a result of acts or omissions of Indemnitee in his or her Corporate Status, and to ensure the Corporation’s performance of its indemnification obligations under this Agreement; provided, however, that in all policies of D&O Insurance obtained by the Corporation, Indemnitee will be named as an insured party in such manner as to provide Indemnitee with the same rights and benefits as are afforded to the most favorably insured officers of the Corporation under such policies; provided, further, for the duration of Indemnitee’s service in a Corporate Status, and thereafter for so long as Indemnitee may be subject to any possible Applicable Proceeding, the Corporation shall use best efforts to continue to maintain in effect policies of D&O Insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Corporation’s current policies of D&O Insurance. Any reductions to the amount of D&O Insurance coverage maintained by the Corporation as of the date hereof will be subject to the approval of the Board. Upon request, the Corporation will provide to Indemnitee copies of all D&O Insurance applications, binders, policies, declarations, endorsements and other related materials.
Corporation Insurance. For the duration of Indemnitee’s service as a director and/or officer of the Corporation and for so long thereafter as Indemnitee shall be subject to any pending or possible Proceeding, the Corporation shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to cause to be maintained in effect policies of directors’ and officers’ liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Corporation’s then current policies of directors’ and officers’ liability insurance with one or more reputable insurance companies, providing Indemnitee with coverage in such amount as will be determined by the Board of Directors for Losses and Expenses paid or incurred by Indemnitee as a result of acts or omissions of Indemnitee in his or her Corporate Status, and to ensure the Corporation’s performance of its indemnification obligations under this Agreement; provided, however, that in all policies of director and officer liability insurance obtained by the Corporation, Indemnitee shall be named as an insured party in such manner as to provide Indemnitee with at least the same rights and benefits as are afforded to the most favorably insured directors or officers, as applicable, of the Corporation under such policies. Upon written request, the Company shall provide Indemnitee with a copy of all directors’ and officers’ liability insurance applications, binders, policies, declarations, endorsements and other related materials.
Corporation Insurance. Section 9.2 Partial Casualty to the Leased Premises........................ Section 9.3
Corporation Insurance. Corporation shall maintain insurance with minimum coverages as set forth below, shall name (i) Subordinate Unit and (ii) Knights of Columbus, state councils, local councils, assemblies, circles, chapters, and their respective members, officers, employees and directors as additional insureds, and shall submit proof of insurance coverage upon Subordinate Unit request: Commercial General Liability ° Bodily Injury and Property Damage ▀ $1,000,000 per occurrence ▀ $2,000,000 aggregate ▀ $1,000,000 limit ▀ $2,000,000 aggregate Worker’s Compensation − statutory coverage in accordance with worker’s compensation laws of the state in which Premises is located for employees of Corporation working on Premises
Corporation Insurance. Subject to Section 6.3, the Corporation will obtain and maintain D&O Insurance with one or more reputable insurance companies providing Indemnitee with coverage in such amount as will be determined by the Board for Losses and Expenses paid or incurred by Indemnitee as a result of acts or omissions of Indemnitee in his or her Corporate Status, and to ensure the Corporation’s performance of its indemnification obligations under this Agreement; provided, however, that in all policies of D&O Insurance obtained by the Corporation, Indemnitee will be named as an insured party in such manner as to provide Indemnitee with the same rights and benefits as are afforded to the most favorably insured directors of the Corporation under such policies; provided, further, for the duration of Indemnitee’s service in a Corporate Status, and thereafter for so long as Indemnitee may be subject to any possible Applicable Proceeding, the Corporation shall use best efforts to continue to maintain in effect policies of D&O Insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Corporation’s current policies of D&O Insurance. Any reductions to the amount of D&O Insurance coverage maintained by the Corporation as of the date hereof will be subject to the approval of the Board. Upon request, the Corporation will provide to Indemnitee copies of all D&O Insurance applications, binders, policies, declarations, endorsements and other related materials.
