Damage Covered by Insurance Sample Clauses

Damage Covered by Insurance. If during the Term, the System is wholly or partially destroyed or damaged by an event covered by insurance or required to be covered by insurance under this SLA, the Licensee shall use the proceeds of such insurance to restore the System to its original capacity. If Licensee reasonably determines that it is not economically feasible to restore the System after such loss event, Licensee shall give the Judicial Council written notice of such determination as soon as practical. In that case, this SLA shall be terminated, and the Judicial Council shall have no obligation to pay actual damages except as provided immediately below. Upon receipt of such notice of election by Licensee to terminate this SLA and abandon the System, the Judicial Council shall have the option to take title to the System at no cost. In such event, the insurance proceeds shall be paid in the following order of priority:
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Damage Covered by Insurance. Subject to the provisions in Section 16.5 (Early Termination Due to Force Majeure Event) and any Trustees Consent and Estoppel Certificate if during the Term the System is wholly or partially destroyed or damaged by an event covered by insurance or required to be covered by insurance under this Agreement, the Licensee shall use the proceeds of such insurance to restore the System to its original capacity. If Licensee determines that it is not economically feasible to restore the System after such loss event, Licensee shall give Trustees written notice of such determination as soon as practical. In that case and subject to the terms of any Trustees Consent and Estoppel Certificate, the Agreement shall be terminated and the insurance proceeds shall be paid in the following order of interest:
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Damage Covered by Insurance. If during the Term, the System is wholly or partially destroyed or damaged by an event covered by insurance or required to be covered by insurance under this SLA, the LICENSEE shall use the proceeds of such insurance to restore the System to its original capacity. If LICENSEE‌ reasonably determines that it is not economically feasible to restore the System after such loss event, LICENSEE shall give the DGS and HOST written notice of such determination as soon as practical. In that case, this SLA shall be terminated and the DGS and HOST shall have no obligation to pay actual damages except as provided immediately below. Upon receipt of such notice of election by LICENSEE to terminate this SLA and abandon the System, the DGS and HOST shall have the option to take title to the System at no cost. In such event, the insurance proceeds shall be paid in the following order of priority:
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Damage Covered by Insurance. If during the Term, the System is wholly or partially destroyed or damaged by an event covered by insurance or required to be covered by insurance under this SLA, the Licensee shall use the proceeds of such insurance to restore the System to its original capacity. If Licensee reasonably determines that it is not economically feasible to restore the System after such loss event, Licensee shall give the Judicial Council written notice of such determination as soon as practical. In that case, this SLA shall be terminated, and the Judicial Council shall have no obligation to pay Actual Damages except as provided immediately below. Upon receipt of such notice of election by Licensee to terminate this SLA and abandon the System, the Judicial Council shall have the option to take title to the System at no cost. In such event, the insurance proceeds shall be paid in the following order of priority: First, to pay for the reasonable costs to remove the damaged System and restore the Licensed Area to its original condition as of the Effective Date save for normal wear and tear, as provided in section 11.1. If the insurance proceeds are insufficient, or there are no insurance proceeds as provided in this SLA to cover the costs to restore the Licensed Area, Licensee shall be responsible for removing the System and restoring the Licensed Area at Licensee’s sole cost to its original condition as of the Effective Date save for normal wear and tear, as provided in section 11.1. Second, to Licensee, the amount equal to Actual Damages as of the date immediately preceding the casualty event minus the amount paid to remove the System pursuant to section 11.1. Third, any remaining insurance proceeds shall be distributed fifty percent (50%) to Licensee and fifty percent (50%) to the Judicial Council.
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Damage Covered by Insurance. If the Premises is damaged or destroyed by fire or other peril covered by hazard insurance, Landlord shall (contingent only upon receipt of insurance proceeds) repair and reconstruct the Premises to be in substantially the same condition as its condition prior to said damage or destruction; provided, however, that if the cost of repairing or reconstructing the Premises to the condition and form prior to the damage or destruction is equal to or in excess of seventy-five percent (75%) of the full replacement cost of the Premises, Landlord may, at its sole option, elect to terminate the Lease by providing Tenant with written notice of such termination within thirty (30) days after the date of such damage or destruction, which notice shall specify a termination date not less than thirty (30) days after the giving of such notice. In connection with any such repair and reconstruction, Landlord and Xxxxxx shall immediately execute any and all documents necessary to make available to Landlord all proceeds of such insurance, subject to the claims of any mortgagee or beneficiary of a deed of trust. In such event, the Lease shall remain in full force and effect and the Rent payable hereunder shall not xxxxx during such repair and restoration, except for an equitable adjustment of the Basic Rent to reflect space that is not usable to Tenant during the repair.
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Damage Covered by Insurance. If the Leased Premises shall be damaged by fire or other casualty which is covered by insurance required to be maintained by Lessee, Lessee shall commence Restoration within thirty (30) days after such insurance proceeds have been made available or no later than one hundred and eighty (180) days after the casualty and shall continue said repairs with due diligence to complete the Restoration; provided, however, if such damage is seventy percent (70%) or more of the Replacement Cost of the Leased Premises, Lessee shall have the option, exercisable by written notice to Lessors within sixty (60) days after the date of such casualty, to terminate this Lease effective as of the date provided below. In such event, (i) if the Improvements are structurally sound following the casualty, then the term shall cease ten (10) days after Lessee has delivered a certification from the architect that the Improvements are structurally sound notwithstanding the casualty and Lessee has cleared all debris and materials from the Leased Premises and secured the Improvements against the weather or (ii) if the Improvements are not structurally sound following the casualty, then the term shall cease ten (10) days after Lessee has cleared all debris and materials from the Leased Premises and restored the parcel to a clear, clean, filled, compacted and graded surface (the obligations in (i) and (ii) of this sentence are collectively the (“Casualty Termination Work”). In the event of such termination, any proceeds payable under any of Lessee’s policies for debris removal shall be applied to the cost of the Casualty Termination Work (or paid to Lessor if Lessee does not perform the Casualty Termination Work) and any other proceeds of Lessee’s policies shall be used to pay off Lessee’s permitted mortgagees and the balance shall be paid fifty percent (50%) to Lessors and fifty percent (50%) to Lessee. If Lessee does not exercise such right to terminate or is required to complete the Restoration, all insurance proceeds shall be paid to the Trustee and shall thereafter be made available to Lessee as Restoration continues and such funds shall be disbursed by the Insurance Trustee, based upon the actual work satisfactorily completed by the Lessee (or its contractor), which work shall be certified by an architect licensed and bonded to conduct business in the State of Mississippi, and following Lessee’s execution of such documents required by the Insurance Trustee to evidence that all bills fo...
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Damage Covered by Insurance. If, during the term of this Lease, the Leased Land shall be damaged or destroyed by a cause or casualty covered by the insurance Tenant is required to carry pursuant to Article 13 above, Tenant shall repair or replace the building and/or improvements damaged or destroyed by the insurable cause of damage or destruction on the same plan and design as existed immediately prior to such damage or destruction, subject to such delays as may be reasonably attributable to governmental restrictions or other causes beyond the control of Tenant. Materials used in repair shall be as nearly like original materials as may then be reasonably procured in regular channels of supply. All proceeds of insurance carried on Tenant's Building and any other improvements located on the Leased Land hereinabove, payable as a result of such damage or destruction, shall be used and applied in accordance with Article 13 hereinabove and this Article 14 to the extent necessary for such repair or rebuilding. Landlord shall not be required to contribute any of its own funds to the cost of repair or rebuilding.
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Damage Covered by Insurance. If, during the initial term of this lease or any extension thereof, the leased premises shall be damaged or destroyed by a cause or casualty covered by the insurance Tenant is required to carry pursuant to Section 14 above, Landlord shall repair or replace the building and/or improvements damaged or destroyed by the insurable cause of damage or destruction on the same plan and design as existed immediately prior to such damage or destruction, subject to such delays as may be reasonably attributable to governmental restrictions or inability to obtain materials or labor, or other causes, whether similar or dissimilar, beyond the control of Landlord. Materials
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Damage Covered by Insurance. (a) Where the Vehicle is Damaged whilst under your control and the repair is covered by Vehicle Insurance, you must pay us the Excess, as follows:
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Related to Damage Covered by Insurance

  • General Liability Insurance The Contractor must secure and maintain Commercial General Liability Insurance, including bodily injury, property damage, products, personal and advertising injury, and completed operations. This insurance must provide coverage for all claims that may arise from performance of the Contract or completed operations, whether by the Contractor or anyone directly or indirectly employed by the Contractor. Such insurance must include the State of Florida as an additional insured for the entire length of the resulting contract. The Contractor is responsible for determining the minimum limits of liability necessary to provide reasonable financial protections to the Contractor and the State of Florida under the resulting contract.

  • Insurance Coverages The Contractor shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City:

  • Indemnity Insurance a. The Service Provider agrees to indemnify and save harmless the City, its officers, agents and employees against and from any and all actions, suits, claims, demands or liability of any character whatsoever brought or asserted for injuries to or death of any person or persons, or damages to property arising out of, result from or occurring in connection with the performance of any service hereunder.

  • Disability Insurance The Company shall maintain, at its cost, supplemental renewable long-term disability insurance as agreed to by the Company and the Executive.

  • Tenant’s Liability Insurance Tenant shall, at Tenants sole cost and expense, provide comprehensive general liability insurance, fully covering and indemnifying Landlord and Landlord’s officers, directors, shareholders, partners, principals, employees, agents, representatives; and other related entities and individuals (together with, at Landlord’s election, Landlord’s lender), as additional insureds, against any and all claims arising from personal injury, death, and/or property damage occurring in or about the Premises or the Property during the period of Tenant’s possession (actual and/or constructive) at the Premises. The initial limits of such insurance shall be at least $2,000,000 combined single liability limit. Tenant shall also, at its sole cost and expense, obtain workers’ compensation insurance for the protection of its employees such as will relieve Landlord of all liability to such employees for any and all accidents that may arise on or about the Premises or the Property. All insurance required to be carried by Tenant shall be primary and noncontributory to any insurance carried by Landlord, regardless of the absence of negligence or other fault of Tenant for alleged injury, death and/or property damage. Each policy of insurance required to be carried by Tenant hereunder shall: (a) contain cross-liability and contractual liability endorsements, (b) provide that no cancellation or reduction in coverage shall be effective until thirty (30) days after written malice to Landlord and Landlord’s lender, (c) be issued by an insurer licensed in California and reasonably approved by Landlord, and (d) shall insure Tenant’s performance of the Indemnity provisions of Article 13, but the amount of such Insurance shall not limit Tenant’s liability nor relieve Tenant of any obligation hereunder. Prior to the Commencement Date, Tenant shall deliver a certificate evidencing all such insurance to Landlord. Tenant shall deliver a renewal or binder of such policy at least thirty (30) days prior to expiration thereof. Tenant shall, at Tenant’s expense, maintain such other liability insurance as Tenant deems necessary to protect Tenant. Tenant shall be in material breach of this Lease if Tenant fails to obtain the insurance required under this Section, or if Tenant obtains insurance with terms, conditions and/or exclusions that are inconsistent with the requirements and terms of this Lease.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • 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.

  • Automobile Liability Insurance Automobile Liability insurance covering bodily injury and property damage in an amount no less than one million dollars ($1,000,000) combined single limit for each occurrence. Covered vehicles shall include owned, non-owned, and hired automobiles/trucks.

  • Comprehensive General Liability Insurance The Lessee shall procure and maintain a valid Comprehensive General Liability Insurance indemnifying the Lessor with minimum coverage of $ for personal injury and $ for damage to property.

  • Comprehensive Automobile Liability Insurance for coverage of owned and non-owned and hired vehicles, trailers or semi-trailers licensed for travel on public roads, with a minimum combined single limit of One Million Dollars ($1,000,000) each occurrence for bodily injury, including death, and property damage.

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