Common use of General Partner's Insurance Clause in Contracts

General Partner's Insurance. Throughout the term of this Agreement, the General Partner shall cause the Partnership to maintain or cause to be maintained in full force and effect the following insurance covering its activities, the activities of the General Partner on its behalf and the activities of the Advisory Board: (a) errors and omissions/professional liability insurance with coverage limits of at least Five Million Dollars ($5,000,000); and (b) crime coverage insurance with coverage limits of at least Ten Million Dollars ($10,000,000), unless a lower amount of coverage limits is approved by the Limited Partners, in their sole discretion. Each policy for such insurance shall be issued by an insurance company with an A policyholder rating as listed at the time of issuance by A. M. Best Insurance Reports, shall name the Limited Partners as joint loss payees, and shall require three (3) days' prior written notice on modification or cancellation thereof be given to the Limited Partners. The General Partner shall furnish the Limited Partners with certificates of coverage and evidence of payment of premiums with respect to such policies within thirty (30) days of the execution of this Agreement and from time to time upon the reasonable written request by any of the Limited Partners. Notwithstanding any other provision in this Agreement to the contrary, the costs and expenses for the insurance coverage as outlined in this Section 7.8 shall be borne by the Partnership.

General Partner's Insurance. Throughout the term of this Agreement, the General Partner shall cause the Partnership to maintain or cause to be maintained in full force and effect the following insurance covering its activities, the activities of the General Partner on its behalf and the activities of the Advisory Board: (a) errors and omissions/professional liability insurance with coverage limits of at least Five Million Dollars ($5,000,000); and (b) crime coverage insurance with coverage limits of at least Ten Million Dollars ($10,000,000), unless a lower amount of coverage limits is approved by the Limited Partners, in their sole discretion. Each policy for such insurance shall be issued by an insurance company with an A policyholder rating as listed at the time of issuance by A. M. Best Insurance Reports, shall name the Limited Partners as joint loss payees, and shall require three (3) days' ’ prior written notice on modification or cancellation thereof be given to the Limited Partners. The General Partner shall furnish the Limited Partners with certificates of coverage and evidence of payment of premiums with respect to such policies within thirty (30) days of the execution of this Agreement and from time to time upon the reasonable written request by any of the Limited Partners. Notwithstanding any other provision in this Agreement to the contrary, the costs and expenses for the insurance coverage as outlined in this Section 7.8 shall be borne by the Partnership.

General Partner's Insurance. Throughout the term of this Agreement, the General Partner shall cause the Partnership to maintain or cause to be maintained in full force and effect the following insurance covering its activities, activities and the activities of the General Partner on its behalf and the activities of the Advisory Boardbehalf: (a) errors and omissions/professional liability insurance with coverage limits of at least Five Million Dollars ($5,000,000); and (b) crime coverage insurance with coverage limits of at least Ten Million Dollars ($10,000,000), unless a lower amount of coverage limits is approved by the Limited Partners, in their sole discretion. Each policy for such insurance shall be issued by an insurance company with an A policyholder rating as listed at the time of issuance by A. M. Best Insurance Reports, shall name the Limited Partners as joint loss payees, and shall require three (3) days' prior written notice on modification or cancellation thereof be given to the Limited Partners. The General Partner shall furnish the Limited Partners with certificates of coverage and evidence of payment of premiums with respect to such policies within thirty (30) days of the execution of this Agreement and from time to time upon the reasonable written request by any of the Limited Partners. Notwithstanding any other provision in this Agreement to the contrary, the costs and expenses for the insurance coverage as outlined in this Section 7.8 7.9 shall be borne by the Partnership.