Insurance and Surety Bonds. Each Employer agrees to be bound by the provisions of the Illinois Workers’ Compensation Act and the Illinois Workers’ Occupational Disease Act and shall submit to the Union certificates of insurance under the Acts or proof of self-insurance before commencing any work covered by this Agreement.
Insurance and Surety Bonds. Section 14.1 Each Employer agrees to be bound by the provisions of the Illinois Workers’ Compensation Act and the Illinois Workers’ Occupational Disease Act and shall submit to the Union certificates of insurance under the Acts or proof of self- insurance before commencing any work covered by this Agreement.
Section 14.2 Before commencing any work covered by this Agreement, the Employer shall provide a performance or surety bond, in the amount and under the terms set forth below, to ensure the prompt and full payment of all contributions, dues/assessments, and wages due in accordance with Articles 4, 9, 10, and 12:
Section 14.3 All bonds shall be in a form acceptable to the Union and the Association and shall:
(i) be written by an insurance carrier authorized, licensed, or permitted to do business in the State of Illinois; or
(ii) be secured by a cash deposit of the full amount of such bond in an account maintained jointly by the Trustees of the Funds; or
(iii) be secured by other assets or personal sureties acceptable to the Trustees which equal or exceed in value the full amount of the bond; or
(iv) be secured by any combination of (i), (ii), and/or (iii) above.
Section 14.4 The Employer must maintain the bond (or other security arrangement acceptable to the Union) for the term of this Agreement and for a period of six months following the Agreement’s termination. Any bond (or other security arrangement) must provide that it shall be payable on written demand by the Union.
Section 14.5 (a) If an Employer fails for any reason to satisfy the bonding requirement of this Article, the Employer or the Employer's corporate officials who are authorized to execute agreements or sign checks, or to designate the persons authorized to do so, shall be personally liable for the wages, dues/assessments, and
Insurance and Surety Bonds. Each of the insurance policies and surety bonds required to be obtained by the Borrower pursuant to Section 4.2 of this Agreement or the Mortgage has been obtained and is in full force and effect, and all premiums due thereunder have been paid. No notice has been received from any insurer that issued any such policy, or any agent, broker or representative of any such insurer, stating in effect that any such policy (i) will not be renewed, (ii) will be renewed only at a higher premium than is presently being paid for such policy or (iii) will be renewed only with lesser or less complete coverage than is presently provided. No Default. No event has occurred and/or is continuing which constitutes, or which, with the giving of notice or the lapse of time or both, would constitute, an Event of Default.
Insurance and Surety Bonds. Maintain (or require others to maintain on its behalf) in full force and effect all insurance and surety bonds in connection with the construction of the Improvements required by law or requested by the Lender; including, without limitation, public liability insurance, owners and contractors protective liability coverage, property damage insurance, workers compensation insurance and builder's risk insurance and payment and performance surety bonds. Such insurance and surety bonds shall be provided in such amounts, for such periods, in such form, with such special endorsements, on such terms and by such insurers and sureties as shall be reasonably satisfactory to the Lender; with the Lender being named as an additional insured under any liability policy, a mortgagee under any hazard policy and a dual obligee under any surety bond. The approval by the Lender of such insurance or surety bonds shall not be deemed or construed as an approval by the Lender of the form, sufficiency or amount of such insurance or surety bonds. The Lender does not in any way represent that such insurance or surety bonds, whether in scope or coverage or limits of coverage, is adequate or sufficient to protect the business or interest of the Borrower.
Insurance and Surety Bonds. All construction contracts must include requirements for insurance and surety bonds as set forth in the City Codified Ordinances. If City so requests or Project Manager deems it advisable, additional requirements for insurance and surety bonds may be set forth in the construction contracts. Prior to commencing construction of the Project, City will require all insurance and surety bonds mandated by any construction contract to be provided in accordance with those contracts. City and Project Manager will monitor the required insurance and surety bonds and will enforce the obligation to maintain such insurance and surety bonds for the period required by the construction contracts.
Insurance and Surety Bonds. Annexed hereto as Schedule 2.21 is a list of all insurance policies and surety bonds presently in effect that insure the property and liability of the Systems. Seller has provided Purchaser with copies of all such insurance policies and surety bonds. To the best of Seller's knowledge, all such policies and bonds are sufficient for compliance with all material requirements of law and of all agreements to which Seller is a party.
Insurance and Surety Bonds. At and prior to the Effective Time, Company and each Retained Subsidiary has insurance in force and effect and maintains surety bonds as set forth in Section 4.22 of the Disclosure Schedule. To the extent applicable, that insurance and those surety bonds constitute all of the policies that are required in connection with the operation of the businesses of the Company and the Retained Subsidiaries and comply with the applicable terms of the joint operating agreements. With respect to the insurance policies and surety bonds, (i) neither the Company nor any Retained Subsidiary is in breach or default thereunder (including with respect to the payment of premiums or the giving of notices), and the Company does not know of any event that (with notice or lapse of time or both) would constitute a breach or default, permit termination, or result in a material increase in premium and no claims are pending as to which coverage has been questioned, denied, or disputed by underwriters.
Insurance and Surety Bonds. Notwithstanding any other provision in this Agreement, as of the Effective Time (i) Acquiror will have recourse to the insurance policies identified in Section 4.22 of the Disclosure Schedule (and any other insurance policies covering the operations of Company and each Retained Subsidiary) for any claim or cause of action arising from an insured event or occurrence related to the Company's operations before the Effective Time and (ii) each surety bond established for the benefit of the Company and the Retained Subsidiaries will be in force in accordance with its terms.
Insurance and Surety Bonds. Schedule 4.21 lists all liability insurance policies of Seller and/or Company, all property and casualty insurance policies all of which are, to the best knowledge of Seller, now in full force and effect. There are no notices of any pending or, to the best knowledge of Seller, threatened terminations with respect to any of such insurance policies or surety bonds and to the best knowledge of Seller, Seller and Company are in compliance with all material conditions contained in such policies and surety bonds other than the maturity dates set forth in such policies and surety bonds.
Insurance and Surety Bonds. (a) Seller has delivered to Buyer:
(i) accurate and complete copies of all policies of insurance (and correspondence relating to coverage thereunder) to which UBES and UBEI, or either of them, is a party or under which UBES or UBEI is or has been covered at any time since December 31, 2006, a list of which is included in Schedule 4.16(a);
(ii) accurate and complete copies of all pending applications by Seller, UBES and UBEI for policies of insurance which would provide coverage to or for the benefit of UBES or UBEI; and
(iii) any statement by a consultant or risk management advisor for Seller, UBES or UBEI, if any, with regard to the adequacy of insurance coverage for UBES and UBEI, or of the reserves for claims.
(b) Except as set forth in Schedule 4.16(b):
(i) all policies of insurance to which UBES and UBEI, or either of them, is a party or that provide coverage to either of UBES or UBEI:
(A) are valid, outstanding and enforceable, provided that Buyer acknowledges that Seller shall discontinue coverage with respect to such policies effective on the Closing Date;
(B) are issued by an insurer that is financially sound and reputable and licensed to provide insurance coverage in the jurisdictions applicable to UBES and UBEI;
(C) taken together, have provided, up to the Closing Date, adequate insurance coverage for the assets and the operations of each of UBES and UBEI, respectively, for all risks normally insured against by a Person carrying on the same business or businesses as UBES and UBEI in the same locations; and
(D) are sufficient for compliance with all Laws and Contracts;
(ii) neither Seller nor UBES nor UBEI has received (A) any refusal of coverage or any notice that a defense will be afforded with reservation of rights or (B) any notice of cancellation or any other indication that any policy of insurance is no longer in full force or effect or that the issuer of any policy of insurance is not willing or able to perform its obligations thereunder;
(iii) Seller, UBES and UBEI have paid all premiums due, and have otherwise performed all of their obligations, under each policy of insurance to which UBES or UBEI is a party or that provides coverage to UBES or UBEI;
(iv) Seller, UBES and UBEI have given notice to the appropriate insurer of all claims that may be insured thereby; and
(v) there are no pending claims under or pursuant to any policy of insurance under which UBES or UBEI is an insured or which provides coverage to either UBES or UBEI.
(c) Se...
