Errors and Omissions Policy. The Custodian shall maintain, at all times and at its own expense, an insurance policy covering losses caused by errors or omissions of the Custodian and its personnel (such policy, an "Errors and Omissions Policy"), which policy shall have such terms and coverage amounts as are comparable to those of errors and omissions policies maintained by custodians of mortgage loans generally. The Errors and Omissions Policy shall insure the Custodian, its successors and assigns, against any losses resulting from negligence, errors or omissions on the part of officers, employees or other persons acting on behalf of the Custodian in the performance of its duties as Custodian pursuant to this Agreement. The Custodian shall maintain in effect the Errors and Omissions Policy at all times and the Errors and Omissions Policy may not be canceled, permitted to lapse or otherwise terminated without the acquisition of comparable coverage by the Custodian.
Errors and Omissions Policy. The Sub-Advisor agrees that, at its sole expense, it will maintain an errors and omissions insurance policy that covers the acts, errors and omissions by the Sub-Advisor and its employees and agents during the term of this Agreement. Upon request of the Advisor, the Sub-Advisor will promptly provide evidence of such insurance.
Errors and Omissions Policy. Pursuant to Owner’s Error and Omission Policy, Owner reserves the right to recover from the Professional Services Consultant all or a portion of the costs associated with change orders, and/or additional work by others if not incorporated as a contract change order, issued to correct errors or work omitted in the construction documents prepared by the Professional Services Consultant. Consequential damages, including any delay of work or damages incurred by other parties due to errors and omissions may be included in the recovery. The Error and Omission Policy is incorporated herein and by reference made a part hereof and is available from Owner or can be referenced at the following web link xxxxx://xxx.xxxx.xxxxxxxxx.xxx/bfpp/section-17-consultants-contractors/section-17-4.
Errors and Omissions Policy. The Investment Sub- Adviser agrees that, at its sole expense, it will maintain an errors and omissions insurance policy that covers the acts, errors and omissions by the Investment Sub-Adviser, its employees or agents during the term of this Agreement. Upon request of the Client, the Investment Sub-Adviser shall provide evidence of such insurance.
Errors and Omissions Policy. Franchisee shall be included on Franchisor’s errors and omissions policy following the Effective Date, which will provide Franchisee with a significant savings on the annual cost of errors and omissions coverage. Franchisee will no longer need to maintain Franchisee’s own errors and omissions policy following the Effective Date. Franchisee shall pay Franchisee’s pro‐rata share of the cost of Franchisor’s master errors and omissions coverage once each year, which is currently estimated to be approximately $600. Payment for this errors and omission coverage occurs annually in February of each year.
Errors and Omissions Policy. The DESIGN-BUILDER shall require the architect or engineer of record, as applicable, and other design professionals to purchase, maintain, and keep in full force, effect, and good standing, a professional liability/errors and omissions insurance policy having minimum limits of $1,000,000, with a maximum deductible of $100,000.
Errors and Omissions Policy. The Approved Underwriter agrees to maintain an errors and omissions insurance policy in an amount no less than $1 million per occurrence.
Errors and Omissions Policy. The Servicing Administrator has in full force and effect an adequate errors and omissions policy or policies with respect to its servicing operations and a standard mortgage banker’s blanket bond.
Errors and Omissions Policy. By Policy, Owner reserves the right to recover from the Professional Services Consultant all or a portion of the costs associated with change orders issued to correct errors or work omitted in the construction documents prepared by the Professional Services Consultant. Consequential damages, including any delay of work or damages incurred by other parties due to errors and omissions may be included in the recovery. The Error and Omission Policy is incorporated herein and by reference made a part hereof and is available from the Owner’s Representative.
Errors and Omissions Policy. Subservicer has in full force and effect an adequate errors and omissions policy or policies satisfying all Agency Requirements with respect to its servicing operations and a standard mortgage bankers blanket bond.
