Deductibles/Retention. Except as otherwise specified in this Charter, the insurance maintained by the School shall apply on a first dollar basis without application of a deductible or self-insurance retention. If the School is governed by a municipality, then Sponsor’s Risk Management Department can elect to accept program deductibles/Self- Insured Retentions as long as the Sponsor receives prior written notice from the municipality that the municipality will be responsible for any loss payments within the deductible/SIR. The municipality governing this charter school will be responsible for any outstanding deductibles/SIR if the School is unable to meet its financial obligations.
Appears in 7 contracts
Samples: Charter School Agreement, Charter School Agreement, Charter School Agreement
Deductibles/Retention. Except as otherwise specified in this Charter, the insurance maintained by the School shall apply on a first dollar basis without application of a deductible or self-insurance retention. If the School is governed by a municipality, then Sponsor’s Risk Management Department can elect to accept program deductibles/Self- Insured Retentions (SIR’s) as long as the Sponsor receives prior written notice from the municipality that the municipality will be responsible for any loss payments within the deductible/SIR. The municipality governing this charter school will be responsible for any outstanding deductibles/SIR if the School is unable to meet its financial obligations.
Appears in 3 contracts
Samples: Charter School Renewal Agreement, Charter School Renewal Agreement, Charter School Renewal Agreement
