Form of Insurance and Insurers. Whenever, under the terms of this Agreement, Developer is required to maintain insurance, City and EDC shall be additional named insureds in all such insurance policies to the extent of their insurable interest, if any. All policies of insurance provided for in this Agreement shall be effected under valid and enforceable policies, in commercially reasonable form issued by responsible insurers which are authorized to transact business in the State, having a Best rating of not less than A+ or its equivalent from another recognized rating agency. As soon as practicable following the Closing Date, Developer shall deliver to City and EDC a copy of each policy, together with proof reasonably satisfactory to City and EDC that the full premiums have been paid or provided for at least the first year of the term of such policies. Thereafter, as promptly as practicable prior to the expiration of each such policy, Developer shall deliver to City and EDC an Accord certificate, together with proof reasonably satisfactory to City and EDC that the full premiums have been paid or provided for at least the renewal term of such policies and as promptly as practicable, a copy of each renewal policy.
Form of Insurance and Insurers. (a) All policies of insurance provided for in this Article XIII and elsewhere in this Lease shall be effected under valid and enforceable policies, in such forms as may from time to time be as hereinbefore specified, issued by insurers of recognized responsibility and reasonably satisfactory to Landlord and each Leasehold Mortgagee and which are authorized to transact business in the State of Louisiana. Upon the execution of this Lease and thereafter prior to the expiration date of each policy furnished pursuant to this Article XIII or elsewhere in this Lease, a copy of each policy or a certificate thereof required to be furnished shall be delivered by Tenant to Landlord and each Leasehold Mortgagee.
Form of Insurance and Insurers. Whenever, under the terms of this Agreement, Developer is required to maintain insurance, the City shall be named as an additional insured in all such insurance policies to the extent of its insurable interest. All policies of insurance provided for in this Agreement shall be effected under valid and enforceable policies, in commercially reasonable form issued by responsible insurers which are authorized to transact business in the Commonwealth, having a financial strength rating by A.M. Best Company, Inc. of not less than “A-” or its equivalent from another recognized rating agency. Thereafter, as promptly as practicable prior to the expiration of each such policy, Developer shall deliver to the City an Accord certificate, together with proof reasonably satisfactory to the City that the full premiums have been paid or provided for at least the renewal term of such policies and as promptly as practicable, a copy of each renewal policy.
Form of Insurance and Insurers. Whenever, under the terms of this Agreement, Developer is required to maintain insurance, the City shall be named as an additional insured in all such insurance policies to the extent of its insurable interest. All policies of insurance provided for in this Agreement shall be effected under valid and enforceable policies, in commercially reasonable form issued by responsible insurers meeting the requirements set forth in Exhibit K. As promptly as practicable prior to the expiration of each such policy, Developer shall deliver to the City an Accord certificate, together with proof reasonably satisfactory to the City that the full premiums have been paid or provided for at least the renewal term of such policies and as promptly as practicable, a copy of each renewal policy.
Form of Insurance and Insurers. Policies of insurance provided for under this Agreement shall be effected under valid and enforceable policies, in such form as shall be approved by the Comptroller as to surety and reserving the right of recovery by the City and/or the Port Authority in the event of damage to Port Authority- or City-owned property. All such policies of insurance shall be issued by insurance companies of recognized responsibility which are reasonably satisfactory to Comptroller and which are licensed to transact business in the State of Missouri (although President may utilize excess lines insurance carriers, who may not be so licensed, for its marine insurance). Each insurance policy required to be obtained under this Agreement shall name the City and the Port Authority and any Leasehold or Subleasehold Mortgagee as additional insureds thereof. Included in the appropriate insurance policy shall be coverage providing for the removal of any portion of the Gaming Vessel(s) when damaged or sunken from any cause whatsoever and this clause shall be expressed as a specific warranty by the insurance company regardless of cause. Self insurance will not comply with the requirements of this Article. In addition, all such policies of insurance shall contain (i) contractual liability endorsements covering the agreements of President to indemnify the Port Authority and the City from and against all cost, expense and/or liability as contractually undertaken by President under the terms of this Agreement, (ii) a provision that no act or omission of President which would otherwise result in forfeiture or reduction of the insurance therein provided shall affect or limit the obligation of the insurance company so to pay the amount of any loss sustained, and (iii) an endorsement providing that such insurance may not be materially changed, amended or canceled with respect to the City except after at least sixty (60) days prior written notice from the insurance company to the Comptroller, sent by registered mail.
Form of Insurance and Insurers. Whenever, under the terms of this Agreement, Developer is required to maintain insurance, City shall be additional named insureds in all such insurance policies to the extent of their insurable interest, if any. All policies of insurance provided for in this Agreement shall be effected under valid and enforceable policies, in commercially reasonable form issued by responsible insurers which are authorized to transact business in the State, having a Best rating of not less than A+ or its equivalent from another recognized rating agency. As soon as practicable following the Closing date, Developer shall deliver to City a copy of each policy, together with proof reasonably satisfactory to City that the full premiums have been paid or provided for at least the first year of the term of such policies. Thereafter, as promptly as practicable prior to the expiration of each such policy, Developer shall deliver to City an Accord certificate, together with proof reasonably satisfactory to City that the full premiums have been paid or provided for at least the renewal term of such policies and as promptly as practicable, a copy of each renewal policy.
Form of Insurance and Insurers. All policies of insurance required by this Casino Operating Contract shall be effected under valid and enforceable policies, in such forms as authorized for use in Louisiana and issued by insurers of required responsibility and who are authorized to transact business in Louisiana and shall name the State and the Gaming Board as additional insureds. Upon the execution of this Casino Operating Contract and thereafter prior to the expiration date of each policy, a copy of each policy or a certificate thereof required to be furnished shall be delivered by the Casino Operator to the Gaming Board. If at any time any of the insurance policies required herein shall be or become unsatisfactory to the Gaming Board as to form or substance, or if a company issuing any such policy shall be or become unsatisfactory to the Gaming Board, subject to such rights being exercised only in a commercially reasonable circumstance, the Casino Operator shall cause the Contractor upon notice to that effect from the Gaming Board to the Casino Operator, promptly to obtain a new policy, submit the same to the Gaming Board for Approval and submit a certificate thereof as hereinabove provided. In policies of Workers' Compensation and Employer's Liability coverage as required herein, the Casino Operator shall cause the Contractor to secure an agreement from the insurer to waive all rights of subrogation against the State and the Gaming Board, its officers, officials, employees, boards, commissions or volunteers for losses arising from work performed by the Contractor for the Casino Operator.
