Insurance and Events of Loss Sample Clauses

Insurance and Events of Loss. Owner shall obtain and maintain with reputable insurers authorized to operate in the scope of the Agreement insurance of the type set forth in Attachment F. Owner shall provide Distribution Company with copies of certificates of all outstanding insurance obtained hereunder promptly after the receipt thereof by Owner. Owner shall notify Distribution Company as soon as reasonably possible if and whenever an event of loss occurs. Without limitation of any obligations Owner may have under Section 15.1 hereof, in the event of damage to or loss of all or part of the NECEC Transmission Line, Owner shall exercise prompt, diligent commercially reasonable efforts to effectuate, in accordance with Good Utility Practice, such repairs and replacements as are necessary or desirable to restore the NECEC Transmission Line to its operating condition immediately prior to such damage or loss, including, for the avoidance of doubt, the application to such repairs or replacements of any potential or actual proceeds realized in connection with such damage or loss under any available or applicable insurance policies (subject to insurance contract/policy terms and conditions of coverage) maintained pursuant to this Section 5.3. Subject to Owner’s compliance, in all material respects, with this Section 5.3, Section 6.3 and all other material terms and conditions with respect to the operation and maintenance of the NECEC Transmission Line, in the event that the costs to restore the NECEC Transmission Line to its operating condition immediately prior to such damage or loss exceed the available insurance proceeds by more than the greater of (a) an amount equal to three percent (3%) of the Net Book Value of the NECEC Transmission Line and (b) Thirty Million Dollars ($30,000,000), the Parties will negotiate in good faith an appropriate allocation of financial responsibility for such excess costs. In the event that the Parties do not agree on the allocation of financial responsibility, Distribution Company shall be entitled to terminate this Agreement, upon thirty (30) days’ written notice to Owner, without liability to Owner; provided that, if within the thirty (30) day period following receipt of such notice, Owner agrees to assume that portion of the allocation of financial responsibility to which Distribution Company objected, then the termination notice shall be deemed revoked and this Agreement shall not be terminated.
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Insurance and Events of Loss. (a) Owner shall obtain and maintain insurance of the type, in such amounts and on such terms as required by the Management Committee from time to time. Owner shall have the right, in its sole discretion, to obtain additional insurance (in amount or type) consistent with Good Utility Practice and shall acquire such insurance as may be required by any Financing Party. All premiums and other costs of property, liability or other insurance obtained by Owner in connection with the Northern Pass Transmission Line, or the ownership, development, engineering, construction or operation thereof, shall be recoverable under the Formula Rate in accordance with Article 8. Owner shall provide Purchaser with copies of certificates of all outstanding insurance obtained hereunder promptly after the receipt thereof by Owner.
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Insurance and Events of Loss. (a) The Consignee shall keep in full force and effect for the term of this Agreement, and any extensions hereto, the following insurance coverages with insurers used by Kellstrom or other insurers of recognized reputation and responsibilixx:
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Insurance and Events of Loss. (a) KIAC shall keep in full force and effect at all times during the Consignment Period the following insurance coverage with insurers used by KIAC or other insurers of recognized reputation and responsibility:
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Insurance and Events of Loss. (a) Consignee shall use commercially reasonable efforts to cause to be kept in full force and effect at all times during the Consignment Period the following insurance coverage with insurers used by Consignee or other insurers of recognized reputation and responsibility:
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Insurance and Events of Loss. (a) The Consignee shall keep in full force and effect for the term of this Agreement, and any extensions hereto, the following insurance coverages with insurers used by Kellxxxxx xx other insurers of recognized reputation and responsibility:
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Insurance and Events of Loss. (a) Consignee shall use commercially reasonable efforts to cause to be kept in full force and effect at all times during the Consignment Period the following insurance coverage with insurers used by Consignee or other insurers of recognized reputation and responsibility: (i) All risk property, including in-transit insurance, with respect to the Consigned Inventory (the "Property Insurance") as provided for in Schedule 7.1. Consignor and Agent shall be named as additional insured and Agent listed as sole loss payee, as their interests may appear, under the policy without imposing any obligation on Consignor to pay the premiums thereof, and the insurer shall waive all rights of subrogation with respect to Consignor and Agent. (ii) Comprehensive general liability and products liability insurance in an amount not less than $212,000,000 (together, "Liability Insurance"), in each case combined single limit bodily injury and property damage per occurrence/aggregate. Consignor and Agent shall be named as additional insured and Agent as a loss payee as their interests may appear, under such Liability Insurance policy without imposing any obligation on Consignor to pay the premiums thereof. Each Liability Insurance policy shall include broad-form contractual liability subject to the terms and conditions of the policy. Each Liability Insurance policy shall operate with respect to each additional insured as though a separate policy were issued to each provided, that such provisions shall not operate to increase the insurers limit of liability. (iii) Workers compensation and employers liability required by all applicable Laws. (iv) Nothing in this Section 7.1 hereof shall prohibit Consignor from obtaining (A) the insurance coverages referred to in Sections 7.1(a)(i), (ii) and (iii) hereof should Consignee fail to do so, or (B) additional insurance in respect of any Consigned Inventory consigned hereunder so long as such additional insurance shall in no manner invalidate any insurance maintained by Consignee in accordance with the provisions of this Section 7.1 hereof. 19 <PAGE> (b) The insurance policies described in Sections 7.1(a)(i) and (ii) hereof shall be endorsed to include breach of warranty protection in favor of Consignor and Agent, and said insurance shall be primary insurance over any such insurance carried by Consignor. (c) Consignee shall provide certificates of insurance from its independent insurance broker or underwriters to Consignor and Agent evidenci...
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Insurance and Events of Loss 
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Related to Insurance and Events of Loss

  • Insurance; Damage to or Destruction of Collateral (a) The Credit Parties shall, at their sole cost and expense, maintain the policies of insurance described on Disclosure Schedule (3.18) as in effect on the date hereof or otherwise in form and amounts and with insurers reasonably acceptable to Agent. Such policies of insurance (or the loss payable and additional insured endorsements delivered to Agent) shall contain provisions pursuant to which the insurer agrees to provide 30 days prior written notice to Agent in the event of any non-renewal, cancellation or amendment of any such insurance policy. If any Credit Party at any time or times hereafter shall fail to obtain or maintain any of the policies of insurance required above or to pay all premiums relating thereto, Agent may at any time or times thereafter obtain and maintain such policies of insurance and pay such premiums and take any other action with respect thereto that Agent deems advisable. Agent shall have no obligation to obtain insurance for any Credit Party or pay any premiums therefor. By doing so, Agent shall not be deemed to have waived any Default or Event of Default arising from any Credit Party's failure to maintain such insurance or pay any premiums therefor. All sums so disbursed, including reasonable attorneys' fees, court costs and other charges related thereto, shall be payable on demand by Borrower to Agent and shall be additional Obligations hereunder secured by the Collateral.

  • Liability and Casualty Insurance The Administrative Agent shall have received copies of insurance policies or certificates of insurance evidencing liability and casualty insurance meeting the requirements set forth herein or in the Security Documents. The Administrative Agent shall be named as loss payee and additional insured on all such insurance policies for the benefit of the Lenders.

  • Fire and Casualty Insurance Developer shall obtain and keep in full force adequate fire and casualty insurance with coverage in an amount equal to the assessed value of such improvements. In the event of loss the Developer shall use the proceeds of such insurance to promptly reconstruct the damaged or lost improvements.

  • Insurance and Condemnation (i) The Issuer shall do or cause to be done all things that it may accomplish with a reasonable amount of cost or effort to cause each of the POAs for each Resort to (A) maintain one or more policies of “all-risk” property and general liability insurance with financially sound and reputable insurers, providing coverage in scope and amount which (x) satisfies the requirements of the declarations (or any similar charter document) governing the POA for the maintenance of such insurance policies and (y) is at least consistent with the scope and amount of such insurance coverage obtained by prudent POAs and/or management of other similar developments in the same jurisdiction; and (B) apply the proceeds of any such insurance policies in the manner specified in the relevant declarations (or any similar charter document) governing the POA and/or any similar charter documents of such POA. For the avoidance of doubt, the parties hereto acknowledge that the ultimate discretion and control relating to the maintenance of any such insurance policies is vested in the POAs in accordance with the respective declaration (or any similar charter document) relating to each Timeshare Property Regime.

  • Casualty Insurance The Lessor ☐ The Lessee ☐ The Parties (jointly) shall be responsible for obtaining and maintaining casualty insurance for the Premises for losses against fire.

  • Casualty Landlord will provide prompt notice to Tenant of any casualty affecting the Property. If Tenant’s Communication Facility or improvements are substantially damaged or destroyed, Tenant may terminate this Lease by upon written notice to Landlord. Termination shall be effective immediately after such notice is given, without the payment of the Termination Fee. Upon such termination, this Lease shall become null and void, and Landlord and Tenant shall have no other further obligations to each other hereunder, other than Tenant’s obligation to remove its property as herein provided and such other provisions that are stated herein to survive said termination. Landlord agrees to permit Tenant to place temporary transmission and reception facilities on the Premises, but only until such time (which shall in no event be longer than ninety (90) days from the date of such casualty) as Tenant is able to activate a replacement transmission facility at another location; notwithstanding the termination of this Agreement, such temporary facilities will be governed by, and Tenant shall comply with, all of the terms and conditions of this Lease, including, but not limited to, Tenant’s obligation to pay Rent and carry insurance. If Tenant elects to continue this Lease, Tenant shall restore the Premises and/or Communication Facility to the condition existing immediately prior to such damage or destruction. Tenant shall not unreasonably or unnecessarily delay restoration of its Communications Facility. If Tenant undertakes to rebuild or restore the Premises and/or the Communication Facility, as applicable, Landlord agrees to permit Tenant to place temporary transmission and reception facilities on the Premises at no additional Rent until the reconstruction of the Premises and/or the Communication Facility is completed (which shall be no later than six (6) months from the date of said casualty).

  • Insurance Provisions Prior to the provision of services under this Contract, the Contractor agrees to purchase all required insurance at Contractor’s expense, including all endorsements required herein, necessary to satisfy the County that the insurance provisions of this Contract have been complied with. Contractor agrees to keep such insurance coverage, Certificates of Insurance, and endorsements on deposit with the County during the entire term of this Contract. In addition, all subcontractors performing work on behalf of Contractor pursuant to this Contract shall obtain insurance subject to the same terms and conditions as set forth herein for Contractor. Contractor shall ensure that all subcontractors performing work on behalf of Contractor pursuant to this Contract shall be covered under Contractor’s insurance as an Additional Insured or maintain insurance subject to the same terms and conditions as set forth herein for Contractor. Contractor shall not allow subcontractors to work if subcontractors have less than the level of coverage required by County from Contractor under this Contract. It is the obligation of Contractor to provide notice of the insurance requirements to every subcontractor and to receive proof of insurance prior to allowing any subcontractor to begin work. Such proof of insurance must be maintained by Contractor through the entirety of this Contract for inspection by County representative(s) at any reasonable time. All self-insured retentions (SIRs) and deductibles shall be clearly stated on the Certificate of Insurance. If no SIRs or deductibles apply, indicate this on the Certificate of Insurance with a zero (0) by the appropriate line of coverage. Any self-insured retention (SIR) or deductible in an amount in excess of $25,000 ($5,000 for automobile liability), which shall specifically be approved by the County Executive Office (CEO)/Office of Risk Management upon review of Contractor’s current audited financial report. If the Contractor fails to maintain insurance acceptable to the County for the full term of this Contract, the County may terminate this Contract.

  • Casualty Damage A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building or the Project shall be damaged so that, in Landlord’s reasonable judgment, substantial alteration or reconstruction of the Building or the Project shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than eighteen (18) months of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Premises Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease. Tenant shall have the right to terminate this Lease i 1: (a) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired (as reasonably determined by Landlord) within 60 days after Landlord’s receipt of all required permits to restore the Premises; (b) there is less than eighteen (18) months of the Term remaining on the date of such casualty; and (c) Tenant provides Landlord with written notice of its intent to terminate within thirty (30) days after the date of the fire or other casualty.

  • Insurance and Indemnity (a) The Hirer shall be liable for:

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