Common use of Insurance and Surety Agreements Clause in Contracts

Insurance and Surety Agreements. Schedule 5.16 contains a true and correct list of: (a) all policies of fire, liability and other forms of insurance held or owned by the Company (including but not limited to medical malpractice insurance, and any state sponsored plan or program for worker's compensation); and (b) all bonds, indemnity agreements and other agreements of suretyship made for or held by the Company, including a brief description of the character of the bond or agreement and the name of the surety or indemnifying party. Schedule 5.16 sets forth for each such insurance policy the name of the insurer, the amount of coverage, the type of insurance, the policy number, the annual premium and a brief description of the nature of insurance included under each such policy and of any claims made thereunder during the past two years. Such policies are owned by and payable solely to the Company, and said policies or renewals or replacements thereof will be outstanding and duly in force at the Closing Date. All insurance policies listed on Schedule 5.16 are in full force and effect, all premiums due on or before the Closing Date have been or will be paid, financed or accrued on or before the Closing Date, the Company has not been advised by any of its insurance carriers of an intention to terminate or modify any such policies other than under circumstances where the Company has received a commitment for a replacement policy, nor has the Company failed to comply with any of the material conditions contained in any such policies.

Appears in 3 contracts

Samples: Merger Agreement (Integrated Health Services Inc), Stock Purchase Agreement (Integrated Health Services Inc), Stock Purchase Agreement (Integrated Health Services Inc)

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Insurance and Surety Agreements. Schedule 5.16 contains a true and correct accurate list of: (a) all policies of fire, liability and other forms of insurance held or owned by the Company (including but not limited to medical malpractice insurance, and any state sponsored plan or program for worker's compensation); and (b) all bonds, indemnity agreements and other agreements of suretyship made for or held by the Company, including a brief description of the character of the bond or agreement and the name of the surety or indemnifying party. Schedule 5.16 4.16 sets forth for each such insurance policy the name of the insurer, the amount of coverage, the type of insurance, the policy number, the annual premium and a brief description of the nature of insurance included under each such policy and of any claims made thereunder during the past two years. Such policies are owned by and payable solely to the Company, and said policies or renewals or replacements thereof will be outstanding and duly in force at the Closing Date. All insurance policies listed on Schedule 5.16 are in full force and effect, all premiums due on or before the Closing Date have been or will be paid, financed or accrued on or before the Closing Date, the . The Company has not been advised by any of its insurance carriers of an intention to terminate or modify any such policies other than under circumstances where the Company has received a commitment for a replacement policy, nor has the Company failed to comply with any of the material conditions contained in any such policies.

Appears in 1 contract

Samples: Stock Purchase Agreement (Integrated Health Services Inc)

Insurance and Surety Agreements. Schedule 5.16 4.16 contains a true and correct list of: (a) all policies of fire, liability and other forms of insurance held or owned by the Company (including but not limited to medical malpractice professional liability insurance, and any state sponsored plan or program for worker's compensation); and (b) all bonds, indemnity agreements and other agreements of suretyship made for or held by the Company, including a brief description of the character of the bond or agreement and the name of the surety or indemnifying party. Schedule 5.16 4.16 sets forth for each such insurance policy the name of the insurer, the amount of coverage, the type of insurance, the policy number, the annual premium and a brief description of the nature of insurance included under each such policy and of any claims made thereunder during the past two (2) years. Such policies are owned by and payable solely to the Company, and said policies or renewals or replacements thereof will be outstanding and duly in force at the Closing Date. All insurance policies listed on Schedule 5.16 4.16 are in full force and effect, all premiums due on or before the Closing Date have been or will be paid, financed or accrued paid on or before the Closing Date, the Company has not been advised by any of its insurance carriers of an intention to terminate or modify any such policies other than under circumstances where the Company has received a commitment for 14 a replacement policy, nor has the Company failed to comply with any of the material conditions contained in any such policies.

Appears in 1 contract

Samples: Merger Agreement (Integrated Health Services Inc)

Insurance and Surety Agreements. Schedule 5.16 contains a true and correct accurate list of: (a) all policies of fire, liability and other forms of insurance held or owned by the Company (including but not limited to medical malpractice insurance, and any state sponsored plan or program for worker's compensation); and (b) all bonds, indemnity agreements and other agreements of suretyship made for or held by the Company, including a brief description of the character of the bond or agreement and the name of the surety or indemnifying party. Schedule 5.16 sets forth for each such insurance policy the name of the insurer, the amount of coverage, the type of insurance, the policy number, the annual premium and a brief description of the nature of insurance included under each such policy and of any claims made thereunder during the past two years. Such policies are owned by and payable solely to the Company, and said policies or renewals or replacements thereof will be outstanding and duly in force at the Closing Date. All insurance policies listed on Schedule 5.16 are in full force and effect, all premiums due on or before the Closing Date have been or will be paid, financed or accrued on or before the Closing Date, the . The Company has not been advised by any of its insurance carriers of an intention to terminate or modify any such policies other than under circumstances where the Company has received a commitment for a replacement policy, nor has the Company failed to comply with any of the material conditions contained in any such policies.

Appears in 1 contract

Samples: Stock Purchase Agreement (Integrated Health Services Inc)

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Insurance and Surety Agreements. Schedule 5.16 5.18 contains a true and correct list of: (a) all policies of fire, liability and other forms of insurance held or owned by the Company (including but not limited to medical malpractice insurance, and any state sponsored plan or program for worker's compensation); and (b) all bonds, indemnity agreements and other agreements of suretyship made for or held by the Company, including a brief description of the character of the bond or agreement and the name of the surety or indemnifying party. Schedule 5.16 5.18 sets forth for each such insurance policy the name of the insurer, the amount of coverage, the type of insurance, the policy number, the annual premium and a brief description of the nature of insurance included under each such policy and of any claims made thereunder during the past two years. Such policies are owned by and payable solely to the Company, and said policies or renewals or replacements thereof will be outstanding and duly in force at the Closing Date. All insurance policies listed on Schedule 5.16 5.18 are in full force and effect, all premiums due on or before the Closing Date have been or will be paid, financed or accrued paid on or before the Closing Date, the Company has not been advised by any of its insurance carriers of an intention to terminate or modify any such policies other than under circumstances where the Company has received a commitment for a replacement policy, nor has the Company failed to comply with any of the material conditions contained in any such policies.

Appears in 1 contract

Samples: Assets Purchase Agreement (Integrated Health Services Inc)

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