Developer Insurance Policies Sample Clauses

Developer Insurance Policies. All policies of insurance provided for herein shall be issued by insurance companies authorized to do business in California and rated in Best’s Insurance Guide, or any successor thereto as having a "Best’s Rating" of "A-" or better and a "Financial Size Category" of at least "VII" or better or, if such ratings are not then in effect, the equivalent thereof or such other financial rating as LAUSD may at any time consider appropriate. All policies held by Developer in connection with this Agreement shall name Developer as the insured and LAUSD and the School Board as additional insureds, and shall provide that they may not be cancelled by the insurer for nonpayment of premiums or otherwise or be terminated or lapse of their own accord or by their own terms until at least thirty (30) days after written notice of the proposed cancellation upon all parties named in such policies as insureds. All insurance required to be carried by Developer shall contain a provision that no act or omission of Developer shall affect or limit the obligation of the insurance company to pay the amount of any loss sustained. All such policies shall contain language to the effect that any loss shall be payable notwithstanding any act or negligence of LAUSD that otherwise might result in the forfeiture of the insurance. All public liability, property damage and other casualty policies shall be written as primary policies, not contributing with any other coverage which LAUSD or Developer may carry. Developer agrees that with respect to all such policies carried by or to be carried by Developer, Developer shall require its insurance broker to provide LAUSD with written notice whenever there are paid losses on Developer’s insurance policies which result in a 20% or greater erosion of limits. Upon the Execution Date, and thereafter at least ten (10) days prior to the expiration date of such policy, Developer shall deliver to LAUSD copies of the policies for all the insurance required to be carried by Developer hereunder. Developer shall cause each property insurance policy obtained by Developer to provide that the insurance company waives all right of recovery by way of subrogation against LAUSD or Developer in connection with any damage covered by any such policy or policies, and Developer hereby waives all such claims against LAUSD. LAUSD shall cause each property insurance policy obtained by LAUSD (if any) to provide that the insurance company waives all right of recovery by way of su...
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to Developer Insurance Policies

  • Insurance Policy The Employer agrees to remit to the Union an amount to be applied toward the payment of a premium by the Union for an insurance policy which provides a defense attorney to represent all members of the bargaining unit when they are charged with a criminal act that results from events occurring while the bargaining unit member was acting in an official capacity. The maximum amount payable during the term of the Agreement shall be seven dollars ($7.00) per member per month.

  • ADDITIONAL INSURED ENDORSEMENT AND PRIMARY AND NON-CONTRIBUTORY INSURANCE CLAUSE Supplier agrees to list Sourcewell and its Participating Entities, including their officers, agents, and employees, as an additional insured under the Supplier’s commercial general liability insurance policy with respect to liability arising out of activities, “operations,” or “work” performed by or on behalf of Supplier, and products and completed operations of Supplier. The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self-insurance in force for the additional insureds.

Time is Money Join Law Insider Premium to draft better contracts faster.