Insurance and Restoration Sample Clauses

Insurance and Restoration. (a) In addition to the insurance requirements contained in this Agreement, Borrower shall obtain and maintain any other insurance policies as may be required by the Condominium Documents. (b) If and so long as the Owner’s Association maintains a “master” or “blanket” policy on the Condominium which is acceptable to Lender and is issued by an insurance carrier acceptable to Lender (the “Owner’s Association’s Policy”), then Borrower’s obligation under this Agreement to maintain insurance coverage will be satisfied to the extent of the insurance coverage provided by such Owner’s Association’s Policy. To the extent permitted pursuant to applicable Legal Requirements, any insurance proceeds from the Owner’s Association’s Policy shall be held and applied by Lender in accordance with the terms and conditions of this Agreement. To the extent permitted by the Condominium Documents or Legal Requirements, Borrower shall use commercially reasonable efforts to ensure that the Owner’s Association maintains a public liability insurance policy acceptable to Lender in form, amount, and extent of coverage. (c) In the event of a material fire or other casualty to the general common elements of the Condominium or any fire or other casualty to the Units or any limited common elements appurtenant to the Units: (i) Borrower shall immediately notify Lender in writing of such event; (ii) Lender may elect to vote in place and stead of Borrower with respect to: (A) all matters of repair and restoration, (B) the disposition of insurance, (C) the settlement of insurance claims, and (D) the application of insurance proceeds; (iii) in order to effectuate the foregoing, Borrower hereby irrevocably appoints Lender as Borrower’s attorney-in-fact to so act with respect to said right to vote, which appointment as attorney-in-fact is hereby coupled with an interest; (iv) Borrower shall pay all amounts as required by the Owner’s Association for such repair and restoration due to inadequacy of insurance proceeds; and (v) in the event Borrower receives any funds, including insurance proceeds, whether from fire or other casualty or otherwise, Borrower shall assign and immediately deliver any such funds to Lender. Lender may, without obligation or liability, make the payments set forth in clause (iv) to Borrower or directly to the Owner’s Association for such repair and restoration and the same shall be secured by the applicable Security Instrument, this Loan Agreement and the other Loan Documents...
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Insurance and Restoration. 1.1. Landlord shall maintain and keep in effect or cause to be maintained and kept in effect such insurance as it deems commercially reasonable, including, without limitation, (a) insurance against loss or damage to the Premises or other buildings and improvements on the Property owned by Landlord by fire and such other casualties as may be included within fire and extended coverage insurance, in an amount equal to the full replacement costs of such buildings and improvements, (b) rent insurance against loss of Rent paid by Tenant due to loss or damage to the buildings on the Property owned by Landlord by fire and such other casualties as may be included within fire and extended coverage insurance, (c) commercial general liability insurance against claims for bodily injury, death and property damage in and about the Property owned by Landlord, and (d) commercial general liability insurance against claims for bodily injury, death and property damage in and about the Common Areas. 1.2. Throughout the Term, Tenant shall pay to Landlord as Additional Rent and as part of Tenant's Proportionate Share of Operating Expenses payable under Article X, Tenant's Operating Expense Proportionate Share of all premiums to be paid by Landlord for all insurance maintained by Landlord pursuant to Section 5.1. 1.3. Tenant, at Tenant's sole cost and expense, shall maintain and keep in effect the following insurance coverages throughout the Term: (a) insurance against liability for bodily injury (including death) and property damage in or about the Property under a policy of commercial general liability insurance and umbrella liability (if necessary), on an occurrence basis (and including, without limitation, contractual liability coverage for liabilities assumed by Tenant under this Lease) and with such limits as to each as may be reasonably required by Landlord from time to time, but not less than $5,000,000, combined single limit each occurrence; (b) business automobile liability insurance including owned, hired and non-owned automobiles, on an occurrence basis and with such limits as may be reasonably required by Landlord from time to time, but not less than $5,000,000 combined single limit; (c) causes of loss-special form insurance upon Tenant's personal property, fixtures and leasehold improvements and items stored on the Premises by Tenant for the full replacement costs thereof (subject, however, to the deductible permitted under Section 5.4); (d) workers' compensation in...
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Insurance and Restoration. The SSCCC shall, at all times, maintain insurance policies at its own expense for all its regular functions and for any special events coordinated or sponsored by the CCCCO. The SSCCC shall furnish to the CCCCO a certificate of insurance stating that there is General Liability insurance presently in effect for all SSCCC activities with a combined single limit of not less than $1,000,000 per occurrence, and $2,000,000 aggregate, and that vehicle insurance (where applicable) is in effect with a minimum coverage of $1,000,000 per occurrence. The SSCCC shall also furnish to the CCCCO a certificate of insurance for directors and officers. The certificate of insurance shall provide: a. That the insurer will not cancel the insured’s coverage without thirty (30) days prior notice to CCCCO; b. That the State of California, the BOG, the CCCCO, and the employees, volunteers, officers and agents of each of them, are included as additional insureds, but only insofar as the operation under this contract are concerned; and c. That the State of California, the BOG, and the CCCCO, and the employees, officers and agents of each of them will not be responsible for any premiums or assessments on the policy. The SSCCC agrees that the bodily injury liability insurance herein provided shall be in effect at all times during the term of this MOU. In the event said insurance coverage expires at any time or times during the term of this MOU, the SSCCC agrees to provide at least thirty (30) days prior to said expiration date, a new certificate of insurance evidencing insurance coverage as provided herein for not less than the remainder of the term of the contract, or for a period of not less than one (1) year. New certificates of insurance are subject to the approval of the CCCCO, and the SSCCC agrees that no work or services shall be performed prior to the giving of such approval. If the SSCCC fails to keep in effect at all times insurance coverage as herein provided, the CCCCO may, in addition to any other remedies it may have, terminate this MOU upon the occurrence of such event.
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Insurance and Restoration. At Landlord's sole cost and expense and as part of the cost of construction Landlord shall procure or cause to be procured and maintained during the construction of the Project (including, without limitation, the construction of Tenant Improvements), builder's risk insurance insuring the Building and all other improvements constructed on the Real Property against fire, the perils insured under the standard form extended coverage endorsement, vandalism, and malicious mischief in the full amount of the cost of construction. In the event the Building or Tenant Improvements shall be damaged or destroyed by fire or other insured casualty, Landlord shall repair or restore the damaged Building, upon Tenant's reaffirmation of the Lease or giving of such other comfort to Landlord and Lender (as defined in Article 20) as may be reasonably
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Insurance and Restoration. SECTION 10.1. Tenant, at all times during the Term, shall cause the Building to be insured against loss or damage by fire, lightning, and such other risks as are from time to time included in “all risks” endorsements in the State of Arizona, in an amount and form so that the proceeds thereof are sufficient to provide for actual replacement in full of the Building (said amount may exclude foundation and excavation costs and costs of underground flues, pipes and drains), as part of one or more policies of insurance. Landlord and Landlord’s mortgagees shall be named as additional loss payees on the insurance obtained by Tenant under this Section 10.1. SECTION 10.2. Commencing with the date Tenant or Landlord executes this Lease, whichever is later, Tenant agrees, at no expense to Landlord, to maintain or cause to be maintained commercial general public liability insurance against claims for contractual liability as well as personal injury or death and property damage occurring upon, in or about the Premises and the Common Area, such insurance in each case to afford protection to the limit of not less than $5,000,000 for combined single limit for personal injuries, including bodily injury or death (which limit may be included in an excess lines policy), and property damage to any number of persons arising out of any one occurrence. SECTION 10.3. All insurance provided for in this Article X shall be effected under valid and enforceable policies issued by insurers of recognized responsibility with a minimum A. M. Best Company, Inc. (or any successor rating organization) general policyholder’s Rating of A-/X or better, which shall contain a deductible of no more than $100,000.00 per occurrence and shall be primary and noncontributing. Each party shall provide self-insurance for any deductible carried by such party. Any insurance required to be maintained by Tenant may be self-insured in whole or in part if Tenant shall then have and thereafter maintain a net worth of at least $100,000,000. Any insurance required to be maintained by Landlord or Tenant hereunder may be taken out under a blanket insurance policy or policies covering other premises, property or insureds in addition to the Premises and the parties hereto, provided such policy or policies otherwise comply with this Article X and provide for a minimum limit available to the Premises equal to the insurance amounts required hereunder. If Tenant shall elect to self-insure, Landlord shall have all the benef...
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Related to Insurance and Restoration

  • Insurance and Bonding The Subrecipient shall carry sufficient insurance coverage to protect Agreement assets from loss due to theft, fraud and/or undue physical damage, and as a minimum shall purchase a blanket fidelity bond covering all employees in an amount equal to cash advances from the City/Grantee. The Subrecipient shall comply with the bonding and insurance requirements of 24 CFR 84.31 and 84.48, Bonding and Insurance.

  • Insurance and Bonds Unless otherwise specified in this Contract, Grantee shall acquire and maintain, for the duration of this Contract, insurance coverage necessary to ensure proper fulfillment of this Contract and potential liabilities thereunder with financially sound and reputable insurers licensed by the Texas Department of Insurance, in the type and amount customarily carried within the industry as determined by the System Agency. Grantee shall provide evidence of insurance as required under this Contract, including a schedule of coverage or underwriter’s schedules establishing to the satisfaction of the System Agency the nature and extent of coverage granted by each such policy, upon request by the System Agency. In the event that any policy is determined by the System Agency to be deficient to comply with the terms of this Contract, Grantee shall secure such additional policies or coverage as the System Agency may reasonably request or that are required by law or regulation. If coverage expires during the term of this Contract, Grantee must produce renewal certificates for each type of coverage. In addition, if required by System Agency, Grantee must obtain and have on file a blanket fidelity bond that indemnifies System Agency against the loss or theft of any grant funds, including applicable matching funds. The fidelity bond must cover the entirety of the grant term and any subsequent renewals. The failure of Grantee to comply with these requirements may subject Grantee to remedial or corrective actions detailed in section 10.1, General Indemnity, above. These and all other insurance requirements under the Grant apply to both Grantee and its Subcontractors, if any. Grantee is responsible for ensuring its Subcontractors’ compliance with all requirements.

  • INSURANCE AND PENSION In accordance with RCW 41.80.010(7), the insurance and pension conditions for all members of the bargaining unit will be as follows. 26.1 For the 2017-2019 biennium, the Employer will contribute an amount equal to eighty-five percent (85%) of the total weighted average of the projected health care premium for each bargaining unit employee eligible for insurance each month, as determined by the Public Employees Benefits Board. The projected health care premium is the weighted average across all plans, across all tiers. 26.2 The point-of-service costs of the Classic Uniform Medical Plan (deductible, out-of-pocket maximums and co-insurance/co-payment) may not be changed for the purpose of shifting health care costs to plan participants, but may be changed from the 2014 plan under two (2) circumstances: 1. In ways to support value-based benefits designs; and 2. To comply with or manage the impacts of federal mandates. Value-based benefits designs will: 1. Be designed to achieve higher quality, lower aggregate health care services cost (as opposed to plan costs); 2. Use clinical evidence; and 3. Be the decision of the PEB Board. 26.3 Article 25.2 will expire June 30, 2019. 26.4 The PEB Program shall provide information on the Employer Sponsored Insurance Premium Payment Program on its website and in an open enrollment publication annually. 26.5 The Employer will pay the entire premium costs for each bargaining unit employee for basic life, basic long-term disability and dental insurance coverage.

  • 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 Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.

  • Commencement of Coverage Coverage under the provisions of this article shall apply to regular full-time and regular part-time employees who work 15 regular hours or more per week and shall commence on the first day of the calendar month immediately following the completion of the employee's probationary period.

  • 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 Company The Buyer is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a State, territory or the District of Columbia.

  • Health and Life Insurance In the event Employee’s employment is terminated hereunder, the Company shall provide the following health and life insurance benefits: (a) Upon Employee’s termination of employment under this Agreement other than upon Employee’s termination for Cause or upon Employee’s death, the Company shall be responsible for a one-year period following Employee’s Termination Date, the scheduled premium payments (on or before their due dates) on any universal life insurance policy covering Employee’s life which is in force immediately prior to the Termination Date; provided, however, that the Company shall be obligated to pay any such premiums only to the extent that, and on the same basis as, payments are made by the Company on the universal life insurance policies covering officers of the Company with same or similar coverage and further provided that during the period of six months immediately following the Employee’s Termination Date, the Employee shall be obligated to pay the Company the full cost for any such premium payments, and the Company shall reimburse the Employee for any such payments on the first business day that is more than six months after the Employee’s Termination Date, together with interest on such amount from the Termination Date through the date of payment at the Interest Rate. (b) Upon Employee’s termination of employment under this Agreement other than upon a Change of Control (which shall be governed by the COC Severance Plan), Employee’s termination for Cause, or upon Employee’s death, the Company shall, at its expense, provide such medical and dental coverage as in effect immediately prior to the Termination Date for Employee and Employee’s then covered dependents until the end of the period designated for payments to be made hereunder. Thereafter, Employee and his qualified beneficiaries shall be entitled to continue health insurance benefits, under and through the terms of the applicable COBRA law and regulations, at Employee’s own expense until the expiration of COBRA coverage. (c) In the event of Employee’s death during the Term of Employment for a twelve-month period after his death the Company shall make available at its expense medical and dental insurance covering Employee’s spouse and his dependents (collectively, “Employee’s Beneficiaries”) who would have been covered (if the Term of Employment had continued) by the Company’s medical and dental insurance policies as then in effect, and (ii) thereafter for an additional six-month period, such medical and dental insurance in effect from time to time shall be provided to Employee’s Beneficiaries, with Employee’s Beneficiaries (or estate if applicable) to reimburse the Company for the cost of comparable coverage under the provisions of this clause (ii), unless otherwise prohibited by applicable law Thereafter, Employee and his qualified beneficiaries shall be entitled to continue health insurance benefits, under and through the terms of the applicable COBRA law and regulations, at Employee’s own expense until the expiration of COBRA coverage. (d) Any taxable welfare benefits provided pursuant to this Section 13 that are not “disability pay” or “death benefits” within the meaning of Treasury Regulation Section 1.409A-1(a)(5) (collectively, the “Applicable Benefits”) shall be subject to the following requirements in order to comply with Section 409A of the Code. The amount of any Applicable Benefit provided during one taxable year shall not affect the amount of the Applicable Benefit provided in any other taxable year, except that with respect to any Applicable Benefit that consists of the reimbursement of expenses referred to in Section 105(b) of the Code, a limitation may be imposed on the amount of such reimbursements over some or all of the applicable severance period, as described in Treasury Regulation Section 1.409A-3(i)(iv)(B). To the extent that any Applicable Benefit consists of the reimbursement of eligible expenses, such reimbursement must be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. No Applicable Benefit may be liquidated or exchanged for another benefit.

  • Insurance Plans The Executive is eligible to participate in the life, health, dental, short and long-term disability plans made available to the employees of the Company pursuant to the terms and conditions of such plans.

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