Direction to Insurers Sample Clauses

Direction to Insurers. Subject to terms and conditions of the Term B Loan Documents and the Term B Loan Intercreditor Agreement, each Borrower hereby directs (and, if applicable, shall cause its Subsidiaries to direct) all insurers under policies of Property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to the Property to pay all proceeds payable under such policies or with respect to such claim or award directly to the Administrative Agent for deposit in the Domestic Concentration Account or applicable Cash Collateral Account, as appropriate.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Direction to Insurers. The Borrowers hereby direct (and, if applicable, shall cause their Subsidiaries to direct) all insurers under policies of property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to the Property to pay all proceeds payable under such policies or with respect to such claim or award directly to the Agent, for the benefit of the Holders. In no case shall such proceeds be payable to either Borrower or one or more of their Subsidiaries and the Agent.
Sample 1Sample 2
Direction to Insurers. The Borrower hereby directs (and, if applicable, shall cause the Subsidiaries of the Borrower to direct) all insurers under policies of property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to the Property of such Persons to pay all proceeds payable under such policies or with respect to such claim or award directly to the Collateral Agent, for the benefit of the Collateral Agent and the other Holders. In no case shall such proceeds be payable to the Borrower, or one or more of the Borrower's Subsidiaries, and the Collateral Agent.
Sample 1
Direction to Insurers. Borrower shall direct (and shall cause each other Loan Party to direct) all insurers under policies of property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to Collateral to pay all proceeds in excess of $500,000 payable under such policies or with respect to such claim or award directly to the Administrative Agent. In no case shall such proceeds in excess of $500,000 be payable to the Borrower or one or more of its Subsidiaries and the Administrative Agent. If an Event of Default shall have occurred and be continuing, at the direction of the Administrative Agent, the Borrower shall direct all such insurers to pay all such proceeds to the Administrative Agent without regard to the $500,000 threshold set forth above.
Sample 1
Direction to Insurers. RHI and the Borrower hereby direct (and, if applicable, shall cause the Subsidiaries of the Borrower to direct) all insurers under policies of property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to the Property of such Persons to pay all proceeds payable under such policies or with respect to such claim or award directly to the Administrative Agent, for the benefit of the Administrative Agent and the other Holders. In no case shall such proceeds be payable to RHI, the Borrower or one or more of the Borrower's Subsidiaries and the Administrative Agent.
Sample 1
Direction to Insurers. Subject to terms and conditions of the Intercreditor Agreement, Borrower hereby directs (and, if applicable, shall cause the Credit Parties to direct) all insurers under policies of Property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to the Property to pay all proceeds payable under such policies or with respect to such claim or award directly to the Administrative Agent for deposit in the Agent’s Account.
Sample 1
Direction to Insurers. Each Borrower hereby directs (and, if applicable, shall cause its Subsidiaries to direct) all insurers under policies of Property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to the Property to pay all proceeds payable under such policies or with respect to such claim or award directly to the Administrative Agent, for the benefit of the Administrative Agent, the Co-Agents, the Issuing Banks and the Lenders. In no case shall such proceeds be payable to a Borrower or one or more Subsidiaries of a Borrower and the Administrative Agent; provided, however, that in the event such proceeds are payable to a Borrower or one or more Subsidiaries of a Borrower and the Administrative Agent and the amount thereof exceeds $200,000, such Borrower or Subsidiary(ies) shall promptly endorse the instrument evidencing such proceeds to the
Sample 1
AutoNDA by SimpleDocs
Direction to Insurers. Subject to terms and conditions of the Intercreditor Agreement, each Credit Party hereby directs all insurers under policies of Property damage, boiler and machinery and business interruption insurance and payors of any condemnation claim or award relating to the Property to pay all proceeds payable under such policies or with respect to such claim or award directly to the Administrative Agent for deposit in a Cash Collateral Account.
Sample 1

Related to Direction to Insurers

  • Notice to Insurers If, at the time of the receipt of a notice of a claim pursuant to Section 3(b) hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

  • Notice to Insurer The Fund will promptly make known in writing to Insurer the Board of Directors' determination of the existence of a material irreconcilable conflict, a description of the facts that give rise to such conflict and the implications of such conflict.

  • Acceptability of Insurers Insurance is to be placed with insurers with a current A.M. Best rating of not less than A:VII.

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

  • Release and Waiver of Subrogation The parties hereto release each other, and their respective agents and employees, from any liability for injury to any person or damage to property that is caused by or results from any risk insured against under any valid and collectible insurance policy carried by either of the parties which contains a waiver of subrogation by the insurer and is in force at the time of such injury or damage; subject to the following limitations: (i) the foregoing provision shall not apply to the commercial general liability insurance described by subparagraphs Section 9.1A and Section 9.2B; (ii) such release shall apply to liability resulting from any risk insured against or covered by self-insurance maintained or provided by Tenant to satisfy the requirements of Section 9.1 to the extent permitted by this Lease; and (iii) Tenant shall not be released from any such liability to the extent any damages resulting from such injury or damage are not covered by the recovery obtained by Landlord from such insurance, but only if the insurance in question permits such partial release in connection with obtaining a waiver of subrogation from the insurer. This release shall be in effect only so long as the applicable insurance policy contains a clause to the effect that this release shall not affect the right of the insured to recover under such policy. Each party shall use reasonable efforts to cause each insurance policy obtained by it to provide that the insurer waives all right of recovery by way of subrogation against the other party and its agents and employees in connection with any injury or damage covered by such policy. However, if any insurance policy cannot be obtained with such a waiver of subrogation, or if such waiver of subrogation is only available at additional cost and the party for whose benefit the waiver is to be obtained does not pay such additional cost, then the party obtaining such insurance shall notify the other party of that fact and thereupon shall be relieved of the obligation to obtain such waiver of subrogation rights from the insurer with respect to the particular insurance involved.

  • Certificate of Insurance Contractor must provide a Certificate of Insurance form to the City of Sparks to evidence the insurance policies and coverage required of Contractor.

  • Qualifying Insurers For insurance to satisfy the requirements of this section, all required insurance must be issued by an insurer with an A.M. Best rating of A - or better that is approved to do business in the State of California.

  • Additional Insurance Requirements (a) All insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available). (b) The FCRHA and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys. (c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA and any other parties designated by the FCRHA with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required. (d) Tenant shall provide written notice to the FCRHA promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant. (e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA may procure the same, and Tenant shall be obligated to reimburse the FCRHA as Additional Costs hereunder for all costs incurred by the FCRHA in connection therewith.

  • Insurers The Contractor shall obtain insurance from insurance companies identified as an admitted insurer/carrier in the State of Washington, with a Best’s Reports’ rating of B++, Class VII, or better. Surplus Lines insurance companies will have a rating of A-, Class VII, or better.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!