(e) – Insurance. The Receivable requires the Obligor to have physical damage Insurance covering the Financed Vehicle. Test 3.3(e) — 1: Insurance Review the Contract and confirm it contains an agreement from the Obligor to insure against loss of or risk to the Financed Vehicle.
(e) – Insurance. 54 (F) Inspection of Property; Books and Records; Discussions. . . . . . . . . . . . . . . 54 (G)
(e) – Insurance. 54 (F) Inspection of Property; Books and Records; Discussions................................... 54 (G)
(e) – Insurance. Rates and charges named in these Tariff Rules do NOT include marine or any other insurance maintained for the benefit of the cargo, NOR do they include any Consular Fees or Taxes. Shippers desiring Carrier to arrange insurance coverage for cargo value in excess of Carrier’s stated liability (See Rule 12 and Xxxxxxx’x Xxxx of Lading) MUST notify Carrier, in writing, of the amount and type of insurance coverage requested, PRIOR to commencement of transportation service. Insurance coverage will then be arranged and effected under the Carrier’s Open Marine Policy, subject to all its restrictions, limitations and exclusions, upon Shipper’s payment of the applicable insurance premium. Current premium for insurance coverage will be furnished upon request.
(e) – Insurance. (1) Keep, and cause each Subsidiary to keep, its business and the Collateral insured for risks and in amounts standard for companies in the Loan Parties’ industry and location and as Required Lenders may reasonably request. Insurance policies shall be in a form, with financially sound and reputable insurance companies that are not Affiliates of any Loan Party, and in amounts that are reasonably satisfactory to Required Lenders.
(2) Ensure that proceeds payable under any property policy with respect to Collateral or key man insurance are, at Agent’s option, payable to Agent, for the ratable benefit of Lenders, on account of the Obligations. To that end, all property policies shall have a lender’s loss payable endorsement showing Agent as lender loss payee, all liability policies shall show, or have endorsements showing, Agent as an additional insured, in each case, in form satisfactory to Agent and as set forth on Exhibit D.
(3) Notwithstanding the foregoing, (a) so long as no Default or Event of Default has occurred and is continuing, the Loan Parties shall have the option of applying the proceeds of any casualty policy up to Five Hundred Thousand Dollars ($500,000), in the aggregate per fiscal year, toward the prompt replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property shall be deemed Collateral in which Agent has been granted a first priority security interest and (b) after the occurrence and during the continuance of an Event of Default, all such proceeds shall, at the option of Required Lenders, be payable to Agent, for the ratable benefit of Lenders, on account of the Obligations.
(4) At Agent’s request, Borrower Representative shall deliver certified copies of insurance policies and evidence of all premium payments. Each provider of any such insurance required under this Section 6.5 shall agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to Agent, that it will give Agent thirty (30) days prior written notice before any such policy or policies shall be canceled (or ten (10) days’ notice for cancellation for non-payment of premiums).
(5) If any Loan Party fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to third persons and Agent, Agent may make all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policie...
(e) – Insurance. (a) The President shall cause the Joint Venture Company and its Subsidiaries to purchase and maintain in full force and effect all appropriate policies of insurance on its property and equipment used in the performance of Operations, and against such risks as are from time to time required by the Board of Directors.
(b) The President shall insure that all policies of insurance maintained pursuant to this Article 9, including liability limits and retention levels, shall be in such amounts as are required from time to time by the Board of Directors and shall comply at all times with coverage and liability limits established or required by any applicable law or as a condition to performing any Operations being performed or for which contracts have been awarded. All insurance coverage shall (i) be placed with companies, and in such form, as shall be customary in the geophysical industry, (ii) be approved from time to time by the Board of Directors, (iii) contain provisions regarding waivers of rights of subrogation thereunder against any assured named in such policy and any assignee of such assured, (iv) shall name the Shareholders as additional insureds, and (v) shall be endorsed to be primary to any other insurance of the Shareholders. All insurance policies shall be evidenced by certificates of insurance indicating that the policies shall not be cancelled or partially altered without 30 days prior notice to the Joint Venture Company and each Shareholder. The President shall promptly investigate and report to each Shareholder, the Board of Directors and to the appropriate insurers all accidents and claims for damage relating to the Operations.
(e) – Insurance. 71 (F) Inspection of Property; Books and Records; Discussions. 72 (G) Insurance and Condemnation Proceeds.................... 72 (H)
(e) – Insurance. Each Credit Party will, and will cause each of its Subsidiaries to, maintain insurance including, but not limited to, public liability, property insurance, comprehensive general liability, product liability, business interruption and fidelity coverage insurance, in such amounts and against such risks as would be customary for companies in the same industry and of comparable size as the Credit Parties and their Subsidiaries from financially sound and reputable insurance companies having and maintaining an A.M. Best rating of “A-” or better and being in a size category of VI or larger or otherwise acceptable to the Administrative Agent; provided that in the event that any such insurance company’s A.M. Best rating falls below “A-”, then the Credit Parties shall have ninety (90) days to replace such insurance company with an insurance company maintaining an A.M. Best rating of “A-” or better and being in a size category of VI or larger; provided, further, that if such insurance company’s A.M. Best Rating falls below “B”, then such replacement shall occur within thirty (30) days of such rating downgrade. In addition to the foregoing, each Credit Party further agrees to maintain and pay for insurance upon all goods constituting Collateral wherever located, in storage or in transit in vehicles, vessels or aircraft, including goods evidenced by documents, covering casualty, hazard, public liability and such other risks and in such amounts as would be customary for companies in the same industry and of comparable size as the Credit Parties, from financially sound and reputable insurance companies having and maintaining an A.M. Best rating of “A-” or better and being in a size category of VI or larger or otherwise acceptable to the Administrative Agent to insure the Lender Group’s interest in such Collateral; provided that in the event that any such insurance company’s A.M. Best rating falls below “A-”, then the Credit Parties shall have ninety (90) days to replace such insurance company with an insurance company maintaining an A.M. Best rating of “A-” or better and being in a size category of VI or larger; provided, further, that if such insurance company’s A.M. Best Rating falls below “B”, then such replacement shall occur within thirty (30) days of such rating downgrade. All such property insurance policies shall name the Administrative Agent as loss payee and all liability insurance policies shall name the Administrative Agent as additional insured. Each Credit ...
(e) – Insurance. Each of the Borrowers will, and will cause its Subsidiaries to, at all times maintain in full force and effect insurance (including worker’s compensation insurance, liability insurance, casualty insurance and business interruption insurance) in such amounts, covering such risks and liabilities and with such deductibles or self-insurance retentions as are in accordance with normal industry practice.
(e) – Insurance. President time during working hours 11 9.C Union Stewards
