GREEN UPDATES COVERAGE Sample Clauses

GREEN UPDATES COVERAGE. When a covered cause of loss causes damage to covered property we will pay for the increased cost of the loss to provide for green updates as follows. In the event a loss for which it is determined that it is necessary to replace a building component (such as a roof) or a building system (such as a heating system), such replacement: A. Is limited to replacement of the damaged building component or system with a green building component or system which serves the same primary function as the damaged property; and B. Does not extend to modification or replacement of any other building component or system, except the repair or replacement of property that is necessarily damaged or destroyed in the course of replacing the damaged building component or system. Green Updates Coverage will not be paid until the property is actually repaired or replaced at the same or another premises and unless the repair or replacement commences within 2 years of the date of the covered cause of loss. ADDITIONAL COVERAGES We will indemnify you for the additional costs outlined below, in addition to the value of the covered property listed on the Schedule of Values on file with us, subject to the Limit of Insurance for Property Coverage shown in the Declarations: 1. FIRE DEPARTMENT SERVICE CHARGE When the fire department is called to save or protect covered property from a covered cause of loss. This Additional Coverage applies to your liability for fire department service charges: A. Assumed by contract or agreement prior to the loss; or B. Required by local ordinance. 2. EXTENSION OF RECOVERY PERIOD If the necessary suspension of your operations produces a business income loss payable under this policy, we will pay for the actual loss of business income you sustain for up to 90 days following the end of the period of restoration. However, the Extension of Recovery Period does not apply to loss of business income incurred as a result of unfavorable business conditions caused by the impact of the covered cause of loss in the area where the described premises are located. Loss of business income must be caused by direct physical loss or damage at the described premises caused by or resulting from any covered cause of loss.
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Related to GREEN UPDATES COVERAGE

  • Continuation Coverage If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, then the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of six (6) months from the date of termination or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. The reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy. Notwithstanding the first sentence of this Section 3(a)(iii), if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable monthly payment, payable on the last day of a given month, in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage and will commence on the month following Executive’s termination of employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to six (6) payments. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.

  • Basic Coverage Contractor shall provide and maintain at the JBE’s discretion and Contractor’s expense the following insurance during the Term:

  • Basic Coverages Subd. 1. Faculty

  • Continuing Coverage If a letter of assurance is obtained from any insurer under a Hazard Insurance policy or a Flood Insurance policy that the insurance coverage shall continue in full force and effect, the Servicer shall deposit such letter in the appropriate Servicer Mortgage Loan File.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Class Coverage Teachers, including but not limited to classroom teachers, special area teachers, and clinicians, shall not be required to take another teacher’s classes except in an emergency. Examples of an emergency are the following: a sudden illness of a teacher during the school day, or awaiting the arrival of an obtained substitute, and other situations mutually accepted by the teacher and the principal.

  • ELIGIBILITY FOR COVERAGE Any employee and the dependents of an employee who meet and continue to meet the eligibility requirements described in this Contract, will be entitled to apply for coverage under this Contract. These eligibility requirements are binding upon you and your eligible dependents. We may require acceptable documentation that an individual meets and continues to meet the eligibility requirements (e.g. proof of residency, copies of a court order naming the Subscriber as legal guardian, or appropriate adoption documentation, as described in Part IV. ENROLLMENT AND EFFECTIVE DATE OF COVERAGE).

  • Asset Coverage The Borrower will not at any time permit the aggregate amount of Total Liabilities that are Senior Securities Representing Indebtedness to exceed 33 1/3% of its Adjusted Net Assets.

  • Primary Coverage Contractor’s insurance shall apply as primary and shall not seek contribution from any insurance or self-insurance maintained by, or provided to, the additional insureds listed above including, at a minimum, the State of Washington and/or any Purchaser. All insurance or self-insurance of the State of Washington and/or Purchasers shall be excess of any insurance provided by Contractor or subcontractors.

  • TAXES COVERED 1. The taxes which are the subject of this Agreement are taxes of every kind and description imposed in the Contracting Parties. 2. This Agreement shall also apply to any identical or any substantially similar taxes imposed after the date of signature of the Agreement in addition to or in place of the existing taxes. The competent authorities of the Contracting Parties shall notify each other of any substantial changes to the taxation and related information gathering measures covered by the Agreement.

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