Insurance and Maintenance. For all real and non-expendable property occupied, operated and/or purchased under this Agreement, the Subrecipient shall maintain sufficient insurance to cover the cost of replacement due to loss by fire, theft, or accidental damage. The Recipient shall be named as loss payee under such policies of insurance. The Subrecipient shall also be responsible for the maintenance and upkeep of all such property.
Insurance and Maintenance. 11.1 The Borrower(s) shall at its own expense during the continuance of the security herein keep the Hypothecated Vehicle cov ered under comprehensive risk, including riot, civil commotion risk, fire, theft, unlimited third party risk and other hazards as stipulated from time to time with such insurance company as may be required by the Bank by timely payment of all premia in respect of such insurance and produc e and deliver (if so required by the Bank) any insurance policy, cover note or receipt on demand by the Bank for its inspection and verification.
11.2 The insurance policy to be taken out hereunder shall be in the name of the Borrower(s) and the Bank shall be described as los s payee/beneficiary under such insurance.
11.3 If the Borrower(s) fails to keep the Vehicle in a good and marketable condition, the Bank may without prejudice to its rights and remedies under this agreement and in law take such steps as it may deem fit to keep and maintain the Vehicle or insure or xxxx w such insurance at the Borrower's costs, charges and expenses, which shall be reimbursed by the Borrower(s) on demand by the Bank.
11.4 In order to safeguard the security for the Loan and to ensure that the Bank's lien is marked on the insurance, the Bank may get the insurance done on behalf of the Borrower(s), by being a facilitator and making the premium payment of the approved insurance company through the Borrower's post dated cheque/pay orders/any other payment instructions. However any non-payment on the part of the Bank due to any reason whatsoever shall not effect the liability of the Borrower(s) to pay the necessary insurance premium and to keep the Vehicle(s) insured. The first claim on any insurance proceeds shall be that of the Bank with respect to insurance policy and its renewal as stipulated from time to time and the Borrower(s) shall pay such other amount as may be specified by the Bank form time to time as nominal compensation for the service rendere d by the Bank for facilitation the above mentioned arrangement with the insurance company and ensuring that the Bank's name is marked under insurance. The transaction fee is subject to change at the discretion of the Bank.
11.5 The Bank at its option shall be entitled to adjust, settle or compromise in any manner whatsoever at the Borrower's cost any dispute arising under or in connection with any such policy or insurance and such adjustment, settlement and compromises shall be valid and binding on the Borrower(s)
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Insurance and Maintenance. 11.1 At the request of the Borrower, the Bank may at its own discretion also finance the insurance premium of an insurance policy insuring the Borrower against the risks of personal accident, accidental hospitalization, outstanding amount of loan to the Bank and or critical illness provided that such insurance policy has been taken out by the Bank on behalf of the Borrower from an insurance company approved by the Bank with a specific instruction and authority by the Borrower to such insurance company that in case of any loss reported ,the loss will be paid to the Bank by such insurance company. Such insurance premium paid by the Bank on behalf of the Borrower shall be added as the principal amount to the Construction Equipment/Vehicle Loan granted herein and shall form part of the Construction Equipment/Vehicle Loan. The Borrower shall pay to the Bank the amounts towards insurance premium, as mentioned above which may be loaded to the installments. The insurance premium being a part of Construction Equipment/Vehicle Loan may be disbursed by the Bank directly to such an insurance company approved by the Bank and such disbursement shall be deemed to be disbursement to the Borrower. Without prejudice to what is stated hereinabove, the Borrower(s) shall at its own expense during the continuance of the security herein keep the Hypothecated Asset(s) covered under comprehensive risk, including riot, civil commotion risk, fire, theft, unlimited third party risk and other hazards as stipulated from time to time with such insurance company as may be required by the Bank by timely payment of all premiums in respect of such insurance and produce and deliver (if so required by the Bank) any insurance policy, cover note or receipt on demand by the Bank for its inspection and verification.
11.2 The insurance policy to be taken out hereunder shall be in the name of the Borrower and the Bank shall be described as loss payee under such insurance;
11.3 The Borrower(s) agrees and undertakes to keep and maintain in good and marketable condition the Asset(s) at his own expense and replace all such parts whether broken or damaged with new parts. In this regard, the Borrower(s) agrees to avail of the services of Authorized Service Agents of the Asset(s) manufacturer to effect repair or service of the Vehicles.
11.4 If the Borrower fails to comply with any of the terms and conditions mentioned herein the Bank may, but shall not be obliged to, take steps to keep and maintain the A...
Insurance and Maintenance. The Vendor agrees to keep the premises insured against fire and other hazard for at least Dollars ($ ), and shall escrow and add the cost for said insurance premiums to the Vendee's principal and interest obligation herein. Vendor herein shall have the right to enter the premises at least once per year with twenty-four hours notice to Xxxxxx of his interest to exercise his right. Vendee shall keep the building in a good state of repair and well painted at the Vendee expense and no additions or alterations shall be made to the building without the Vendor's permission, which shall not be unreasonably withheld. At such time as the Vendor Inspects the premises and finds that repairs are necessary, Vendor shall request that these repairs be made within thirty (30) days at the Vendee's expense. The Vendee has inspected the premises constituting the subject matter of this Land Contract, and no representations have been made to the Vendee by the Vendor in regard to the condition of said premises; and it is agreed that the said premises are being sold to the Vendee as the same now exists and that the Vendor shall have no obligation to do or furnish anything toward the improvement of said premises, except as may be provided herein.
Insurance and Maintenance. In addition to the Rent, Tenant shall be responsible for all costs of operating and maintaining the Leased Premises including insurance and routine maintenance.
Insurance and Maintenance. Tenant shall be individually responsible for and shall pay for (a) insurance required to cover the value of the contents of the Ambassador House;
Insurance and Maintenance. The User must – ensure that the Motor Vehicle is comprehensively insured at all times, not do anything that may void this insurance, and ensure that the Motor Vehicle is regularly maintained and otherwise kept in a good state of repair.
Insurance and Maintenance. The Vendor shall insure the property with a non owner-occupant (landlord) policy against fire and extended coverage to the benefit of both parties as their Interests may appear herein. Said policy shall be for an amount no less than , payment of which shall be the responsibility of the Vendee, and which shall be escrowed and added to the payment due herein. Vendees shall keep the building in a good state of repair at the Vendees expense. At such time as the Vendor inspects the premises and finds that repairs are necessary, Vendor shall request that these repairs be made within sixty (60) days at the Vendees expense. The Vendees have inspected the premises constituting the subject matter of this Land Contract, and no representations have been made to the Vendee by the Vendor in regard to the condition of said premises: and it is agreed that the said premises are being sold to the Vendee as the same now exists and that the Vendor shall have no obligation to do or furnish anything toward the improvement of said premises. Vendor shall furnish a clear termite report at Vendor's expense prior to executing this contract. If the property has live infestation of wood destroying insec1s, Vendor will pay costs of treatment and repair damages caused by same. If Vendor elects not to do so. Vendee may elect to waive Vendors responsibility and proceed. or Vendee may elect not to proceed with this contract. Notice of each election shall be given in writing within five (5) days of. respectively. receipt of Vendor of the notice of infestation and receipt by Vendee of Vendors notice as to intention to remedy.
Insurance and Maintenance. 12.1 In order to safeguard the security for the Loan and to ensure that the Lender’s lien is marked on the insurance, the Borrower shall, immediately after signing this Agreement, keep the Asset insured against any loss or damage by accident or fire or other perils under a Comprehensive Policy including the risks against strikes, riots, Civil Commotions, floods and such wider liability to which the asset is normally exposed and unlimited third party liability risks with an Insurance Company approved by the Lender and shall punctually pay all premia and other sums required for keeping the said insurance effective throughout the period of this Agreement and deliver any insurance policy, cover note or receipt to the Lender. Each Insurance policy shall be In the name of the Borrower with the necessary
12.2 The Borrower shall not use the Asset for any purpose not permitted by the terms and conditions of the insurance policy and shall not do or permit to be done any act or thing, which might render the insurance invalid.
Insurance and Maintenance. 17.1 It is Your responsibility to maintain any Equipment used in relation to the Service, whether provided by Us or not, and to ensure that the same is kept, at all times, in a full working order and is not damaged.
17.2 It is Your responsibility to ensure that any Equipment to which We have title under this Contract is at all times insured for its current value (as specified overleaf or in an Additional Information Sheet) under a policy of insurance which provides cover for the replacement or repair of the Equipment in the event of theft, loss, damage or breakage (whether accidental or otherwise) howsoever the same may arise, and in respect of any injury, loss or damage which may be caused by the Equipment to other persons or property.
