General Requirements of Insurance Policies. All Insurance Policies shall be issued by an insurer or insurers with an A.M. Best rating of at least A:X (or, with respect to property and liability insurers excess of a $25,000,000 primary policy, carriers may have an A.M. Best rating of A-:XIII or better with an “Outlook” of either “Stable” or “Positive,” so long as these limits do not exceed thirty percent (30%) of the aggregate program limits of Sponsor or ten percent (10%) of the insurer’s policy holder surplus). The property, boiler and machinery Insurance Policies shall also name Agent and each Lender under a non-contributing Standard Mortgagee or Lender Loss Payee clause and, with respect to rental income, as Lender Loss Payee, on forms reasonably acceptable to Agent, or equivalent endorsements reasonably satisfactory to Agent and shall be otherwise reasonably satisfactory to Agent in form and content. All property Insurance Policies also shall include a replacement cost and co-insurance waiver and/or an agreed amount endorsement and other endorsements as are provided in Schedule 5.11 attached hereto. The amount of any deductible under any Insurance Policy must be reasonably acceptable to Agent. No Insurance Policy shall contain any exclusion for terrorism or terrorist acts or be subject to any sublimit for terrorism or terrorist acts without the prior approval of Agent. Without Agent’s prior consent, Borrower shall not name any Person other than Agent as loss payee or mortgagee under any property Insurance Policies nor shall Borrower carry separate or additional insurance coverage covering the Premises and such improvements and betterments which Borrower is required to insure pursuant to any agreement concurrent in form or contributing in the event of loss with that required by this Loan Agreement; provided, that, if blanket policies are obtained, this sentence shall not apply to property covered by such blanket policies, other than the Premises and such improvements and betterments. Borrower shall pay the premiums for the Insurance Policies as the same become due and payable. Borrower shall deliver to Agent insurance-agent-certified copies of the Insurance Policies required to be maintained pursuant to Section 5.11(a) hereof, provided, however, Agent shall not be deemed by reason of the custody of such Insurance Policies to have knowledge of the contents thereof. Borrower also shall deliver to Agent, within ten (10) Business Days of Agent’s request, a certificate of Borrower or Borrower’s insura...
General Requirements of Insurance Policies. The insurance policies referred to in paragraph 14.4 shall be in form and substance acceptable to the Ministry and shall include the following terms:
General Requirements of Insurance Policies. The Contractor must:
General Requirements of Insurance Policies a. All insurance policies shall be issued by an insurer or insurers with an A.M. Best rating of A-, VI or better and/or a Standard and Poor’s rating of “A”, or equivalent rating from another agency acceptable to the Agent and be authorized in the state where the Project is located.
General Requirements of Insurance Policies. The Service Provider shall: -
