Common use of Deductibles and Retentions Clause in Contracts

Deductibles and Retentions. Permittee shall be responsible for payment of any deductible or retention on Permittee’s policies without right of contribution from Permittor. Deductible and retention provisions shall not contain any restrictions as to how or by whom the deductible or retention is paid. Any deductible of retention provision limiting payment to the name insured is not acceptable. Permittee’s obligation hereunder may be satisfied in whole or in part by adequately funded self-insurance, upon evidence of financial capacity satisfactory to Permittor.