In-Orbit Insurance Sample Clauses

In-Orbit Insurance. Unless the Board of Directors of Borrower shall have passed a resolution that in-orbit insurance is not available to Borrower at such time on terms that are commercially reasonable, Borrower shall use commercially reasonable efforts to procure and maintain, at its own expense, in-orbit insurance for Satellites (other than “Quickbird” and “IKONOS”) on an aggregate basis or an individual basis, as determined by Borrower, in orbit during the commercial useful life of such Satellites, commencing immediately upon the expiration of the applicable launch and initial operations insurance coverage, such insurance to be in such amounts and on such terms and conditions as are reasonable and customary in the case of satellites having similar value and properties for companies engaged in the same or similar business or having similar properties, similarly situated; provided that such resolution of the Board of Directors of Borrower shall be effective for a period not in excess of 6 months.
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In-Orbit Insurance. On or prior to the date falling six (6) months prior to the expiration of the launch and initial operations insurance coverage, the Customer shall procure at its own expense with internationally-recognized, reputable space insurance and reinsurance carriers acceptable to AEF, in-orbit insurance for risks including Partial Failure, Total Failure and Constructive Total Failure, in a minimum amount equal to the Total Senior Debt Outstanding plus interest on the Total Senior Debt Outstanding (at a rate reasonably determined by AEF) for a period of seven (7) months. The Customer shall renew and maintain the in-orbit insurance in full force and effect at all times thereafter such that it always has a remaining term of at least three (3) months. The terms and conditions of the in-orbit insurance, including all renewals thereof, shall be at least as beneficial to the Insured Parties as the corresponding provisions of the launch and initial operations insurance or (in the case of renewals) the provisions of the in-orbit insurance renewed thereby if such terms and conditions are available on commercially reasonable terms, with only such changes as AEF shall otherwise agree.
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In-Orbit Insurance. 2.2.1(a) The Lessor shall exercise reasonable commercial efforts to obtain in-orbit insurance for the Satellite from the Start Date (including coverage of drift and inversion) on substantially the terms of, and at a premium rate not in excess of the premium rate under, the Lessor's in-orbit insurance policy in effect for the Satellite as of October 4, 1997, a copy of which shall be delivered to the Lessee in connection with the execution of this Lease (with additional endorsements consistent with this Section 2.2 and Article 5) and in the aggregate amount of $150,000,000; provided that the Lessor may for its own account obtain insurance in excess of such $150,000,000, and provided further that as of the On Station Acceptance Date, the Lessor's only obligation to the Lessee with respect to in-orbit insurance shall be to maintain insurance in amounts for which the Lessee is to be the beneficiary (i.e., up to Fifty Million Dollars ($50,000,000)). The Lessor shall make the Lessee the beneficiary for one-third of the amount of such $150,000,000 (if available) of insurance, provided that in the event that a lesser amount of insurance is available on commercially reasonable terms (including as a result of diminished insurable Satellite value over time), the Lessee shall be named beneficiary for one-third of such lesser amount. In the event the Lessor determines that insurance on such terms and such amount is unavailable, the Lessor shall not be required to insure either its own interest or the Lessee's interest in the Satellite. The Lessee and the Lessor shall each cooperate and take such actions as may be requested by the other in connection with securing the insurance and complying with all insurance policies secured. The in-orbit insurance policies shall provide that to the extent proceeds are paid under the policies and the Lessee has breached policy requirements or if an Event of Default under Sections 6(a)(i), (v) or (vii) has occurred, the Lessor shall be entitled to the Lessee's interest in the policy and proceeds thereof, which shall be paid to the Lessor, provided that in the event of an Event of Default under Section 6(a)(i) or 6(a)(v), the Lessor shall be entitled only to amounts owing and remaining to be owed to the Lessor under or in connection with the remainder of the Lease.
Sample 1
In-Orbit Insurance. (a) The Borrower will obtain, maintain and keep in full force and effect with respect to (i) the Spaceway 3 Satellite and (ii) any Satellite that has replaced the Spaceway 3 Satellite, and (iii) the Spaceway 4 Satellite, in orbit insurance against loss of or damage to such Satellite (“In Orbit Insurance”) on terms reasonably commercially available and subject only to Acceptable Exclusions.
Sample 1
In-Orbit Insurance. Orion and DACOM shall cooperate in the procurement of a commitment for insurance on or before June 30, 1997, to cover the loss of the Orion 3 Satellite and the Transponders for a period at least twelve (12) months after launch of Orion 3 and for such additional period as DACOM wishes to have and that is available from the insurance market. Orion shall be responsible for the cost of the insurance coverage and shall be the loss payee during the period ending six (6) months after the Commencement Date. DACOM shall be responsible for the cost of the insurance coverage and shall be the loss payee during the period beginning six (6) months after the Commencement Date through the end of the term of the insurance policy. DACOM shall be solely responsible for any additional insurance on the Transponders it wishes to obtain. Orion represents that it has been advised that an insurance product is currently available in the market that would provide coverage for a period of at least twelve (12) months.
Sample 1
In-Orbit Insurance. Unless the Board of Directors of Borrower shall have passed a resolution that in-orbit insurance is not available to Borrower at such time on terms that are commercially reasonable, Borrower shall use commercially reasonable efforts to procure and maintain, at its own expense, in-orbit insurance for Satellites on an aggregate basis or an individual basis, as determined by Borrower, in orbit during the commercial useful life of such Satellites, commencing immediately upon the expiration of the applicable launch and initial operations insurance coverage, such insurance to be in such amounts and on such terms and conditions as are reasonable and customary in the case of satellites having similar value and properties for companies engaged in the same or similar business or having similar properties, similarly situated,; provided, that such resolution of the Board of Directors of Borrower shall be effective for a period not in excess of 6 months; provided, further, notwithstanding the foregoing, the chief financial officer of Borrower may elect, in his or her commercially reasonable business judgment, to self-insure in-orbit insurance for any Satellite that is beyond its design life so long as the chief financial officer of Borrower has notified Administrative Agent of such election prior to the effectiveness of such self-insurance.
Sample 1

Related to In-Orbit Insurance

  • Deposit Insurance Upon receipt of Proper Instructions, the Custodian shall take such reasonable actions as the applicable Fund deems necessary or appropriate to cause each deposit account established by the Custodian pursuant to this Section 2.21 to be insured to the maximum extent possible by all applicable deposit insurers including, without limitation, the Federal Deposit Insurance Corporation.

  • R&W Insurance During the Interim Period, Acquiror may (but shall not be required to) obtain a buyer-side representations and warranties insurance policy with respect to the representations and warranties of the Company, in the name of and for the benefit of Pubco (the “R&W Policy”), which the Acquiror shall give the Company and its Representatives a reasonable opportunity to review and must be reasonably satisfactory to the Company. The Company will use commercially reasonable efforts to provide to Acquiror, during the Interim Period, reasonable assistance as is reasonably required so as to permit the binding and issuance of the R&W Policy at or prior to the Closing, including the execution and delivery of such no-claims declarations as is reasonably necessary (with such exceptions as deemed necessary by the Company) in connection with the issuance of the R&W Policy; provided that any such no-claims declaration given by an officer of the Company shall only be required to be given in such individuals’ capacity as an officer of the Company, and not in any individual capacity; provided further that the failure to deliver any no-claims declaration or breach of the covenants set forth in this Section 7.09, shall not constitute a failure of the condition set forth in Section 10.02(b) to be satisfied. If obtained by Acquiror, the R&W Policy shall provide that (i) the insurer or a Person claiming through the insurer shall have no, and shall waive and not pursue any and all, subrogation rights against the Company (including any successor entities) or any of its (including any successor entities) Affiliates (including any Pre-Closing Holder) with respect to any claim made by any insured thereunder (except against such Person to the extent a claim is paid by the insurer under the R&W Policy as a direct result of such Person’s Fraud); (ii) the Company (including any successor entities) is a third-party beneficiary of such waiver with the express right to enforce such waiver; and (iii) no Person shall amend the R&W Policy in a manner adverse to the Company (including any successor entities) or any of its Affiliates (including any Pre-Closing Holder) (including, for the avoidance of doubt, to provide that the insurer or any other Person may bring a claim against the Company (including any successor entity) or its Affiliates (including any Pre-Closing Holder) by way of subrogation (except as a direct result of such Person’s Fraud)), without the Company’s prior written consent. All reasonable and documented out-of-pocket costs and expenses incurred by Acquiror and the Company in obtaining the R&W Policy, including all premiums, brokers fees, and related costs, shall be treated as Acquiror Transaction Expenses.

  • D & O Insurance The Company agrees that for six (6) years and one (1) business day after the expiration or earlier termination of the Employment Period the Company shall obtain and provide at its expense directors’ and officers’ liability insurance or directors’ and officers’ liability tail insurance policies covering the Executive with respect to acts or omissions occurring during Executive’s employment with the Company with coverage and amounts (including with respect to the payment of attorney’s fees) equal to or greater than those of the Company’s policy in effect on the date hereof.

  • FDIC Insurance The deposits of each Subsidiary Bank of the Borrower are insured by the FDIC and no act has occurred which would adversely affect the status of such Subsidiary Bank as an FDIC insured bank.

  • Reinsurance Administration THE COMPANY shall perform all duties with respect to the administration of the reinsurance under this Agreement on the portion of the policies reinsured under this Agreement.

  • Hazard and Liability Insurance The Administrative Agent shall have received certificates of insurance, evidence of payment of all insurance premiums for the current policy year of each, and, if requested by the Administrative Agent, copies (certified by a Responsible Officer) of insurance policies in the form required under the Security Documents and otherwise in form and substance reasonably satisfactory to the Administrative Agent.

  • Builder’s Risk Insurance At all times during which structural construction, repairs or alterations are being made with respect to the Improvements (A) owner's contingent or protective liability insurance covering claims not covered by or under the terms or provisions of the above mentioned commercial general liability insurance policy; and (B) the insurance provided for in Subsection 3.3(a)(i) written in a so-called builder's risk completed value form (1) on a non-reporting basis, (2) against all risks insured against pursuant to Subsection 3.3(a)(i), (3) including permission to occupy the Property, and (4) with an agreed amount endorsement waiving co-insurance provisions; and

  • FIRE INSURANCE The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE's use of the premises.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Earthquake Insurance If Lessor desires to obtain some form of earthquake insurance in the future, if and when available, on terms acceptable to Lessor as determined in the sole and absolute discretion of Lessor, then as a condition of Lessor agreeing to waive the requirement for earthquake insurance, Lessee agrees that it will pay, as additional Rent, which shall be included in the monthly CAC, an amount not to exceed Forty Seven Thousand Eight Hundred and Thirty Three Dollars ($47,833) per year.

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