Insurance Bonds Clause Samples

Insurance Bonds. (A) Before performance can begin under this Agreement, the Contractor must deliver a certificate of insurance (“COI”), as proof of the required insurance coverages, to the City’s Risk Manager and the Contract Administrator. Additionally, the COI must state that the City will be given at least 30 days’ advance written notice of cancellation, material change in coverage, or intent not to renew any of the policies. The City must be named as an additional insured. The City Attorney must be given copies of all insurance policies within 10 days of the City Manager's written request. Insurance requirements are as stated in Attachment C, the content of which is incorporated by reference into this Agreement as if fully set out here in its entirety. (B) In the event a payment bond, a performance bond, or both, are required of the Contractor to be provided to the City under this Agreement before performance can commence, the terms, conditions, and amounts required in the bonds and appropriate surety information are as included in the RFB/RFP or as may be added to Attachment C, and such content is incorporated here in this Agreement by reference as if each bond’s terms, conditions, and amounts were fully set out here in its entirety.

Insurance Bonds. 12.1 The Contractor shall purchase from and maintain, in a company or companies lawfully authorized to do business in the jurisdiction in which the Project is located, insurance for protection from claims under Workers' Compensation Acts and other Employee Benefit Acts which are applicable, claims for damages because of bodily injury, including death, and from claims for damages, other than to the Work itself, to property which may arise out of, or result from, the Contractor's operations under this Agreement, whether such operations be by the Contractor or by a Subcontractor or anyone directly or indirectly employed by any of them. This insurance shall be written for no less than limits of liability specified by the City in the Contract Documents or required by law, whichever coverage is greater, and shall include contractual liability insurance applicable to the Contractor's obligations under this Agreement. Certificates of such insurance shall be filed with the City prior to the commencement of the Work. Only insurance carriers licensed to do business in the State of Texas with an A.M. Best Rating of “A” will be accepted. 12.2 The City of ▇▇▇▇▇ insurance requirements are as follows: a) Statutory Worker's Compensation Insurance, with Employers' Liability Insurance in the amount of $500,000. In the event any work is sublet, the Contractor shall require the Subcontractor similarly to provide the same coverage and shall himself acquire evidence of such coverage on behalf of the Subcontractor. Waiver of subrogation is required.

Insurance Bonds. The Company shall maintain in force through theTAtRerIFmF BoRf ANCH the Franchises both general liability insurance and motor vehicle insurance, in accordance with all applicable laws and regulations. Revised 3/20/2012 PUBLIC SERVICE COMMISSION OF KENT4UCKY

Insurance Bonds. 9.9.1 Borrower will obtain and maintain insurance with respect to the Projects as required by the Security Instruments and shall furnish Agent certificates and policies as required by the Security Instruments. The casualty insurance policies delivered to Agent must provide for wind, storm and flood damage coverage, in all respects reasonably acceptable to Agent. 9.9.2 Borrower will obtain and maintain or require the Contractors to obtain and maintain at all times during the construction of the Improvements the insurance required by the Construction Contracts and such other insurance as may be reasonably required by Agent (including, without limitation, commercial general liability insurance, comprehensive automobile liability insurance, all-risk contractor's equipment floater insurance, worker's compensation insurance and employer liability insurance), all such insurance to be in such amounts and form, to include such coverage and endorsements, and to be issued by such insurers as shall be reasonably approved by Agent, and to contain the written agreement of the insurer to give Agent not less than thirty (30) days prior written notice of cancellation, nonrenewal, modification or expiration (except where cancellation is due to nonpayment of premium in which case the insurer shall give not less than ten (10) days prior written notice). Borrower will provide or will cause the Contractors to provide Agent with certificates evidencing such insurance. 9.9.3 Borrower will require the Architects to obtain and maintain professional liability insurance covering any claims asserted with respect to the Projects until the Outstanding Advances (as to that Project) are repaid, such insurance to be in such commercially reasonable amounts and form, to include such coverages and endorsements, and to be issued by such insurers as shall be reasonably approved by Agent. Borrower will provide or will cause the Architects to provide the Lenders with certificates evidencing such insurance. In the event that any of such Architects do not have or are unable to provide evidence of such insurance, Borrower shall, at its own cost and expense, insure such Person for its services with respect to the Projects, and provide Agent with evidence of such insurance. 9.9.4 Borrower will obtain and provide to Agent or will cause the Contractor to obtain and provide to Agent the Payment and Performance Bonds. 9.9.5 To the extent Borrower intends to utilize the Escrow Deposits in the construction ...

Insurance Bonds. 16.1 Prior to the execution of this Agreement, the Contractor shall submit certificate(s) of insurance evidencing the required coverage and specifically providing that the City is an additional named insured. Contractor shall not commence work under this Agreement until after Contractor has obtained all of the minimum insurance described in the Contract Documents and the policies of such insurance detailing the provisions of coverage have been received and approved by the City. Contractor shall not permit any Subcontractor to begin work until after similar minimum insurance to cover Subcontractor has been obtained and approved. In the event the insurance certificate provided indicates that the insurance shall terminate and lapse during the term of this Agreement, Contractor shall furnish, at least thirty (30) calendar days prior to expiration of the date of the insurance, a renewed certificate of insurance as proof that equal and like coverage and extension is in effect. Contractor shall not continue to perform the Construction required by this Agreement unless all required insurance remains in full force and effect. 16.2 All insurance policies required of the Contractor shall be written by a company with a Best's rating of B+ or better and duly authorized and licensed to do business in the State of Florida and be executed by duly licensed managers upon whom service of process may be made in Miami-Dade County, Florida. 16.3 A payment and performance bond in the amount of 100% of the compensation amount of this Agreement shall be required by the Contractor prior to the commencement of Construction. The payment bond shall secure and guarantee payment of all persons performing labor or providing materials for the Construction rendered under this Agreement. The performance bond shall secure and guarantee Contractor’s faithful performance of this Agreement, including but not limited to Contractor’s obligation to correct defects after final payment has been made as required by the Contract Documents.

Insurance Bonds. (a) Section 4.21(a) of the Disclosure Schedules sets forth a list of all policies of title, liability, fire, casualty, business interruption, workers’ compensation and all other forms of insurance (including, without limitation, self-insurance arrangements) (collectively, the “Policies” and individually, a “Policy”) insuring the properties, assets or other operations of the Company, setting forth the carrier, policy number, expiration dates, premiums, deductibles, description of type of coverage and coverage amounts. The Company has provided Purchaser with true and complete copies of all of the Policies. (b) Each of the Policies is in an amount and insures against the risks usually and customarily carried by a Person engaged in the type of business which constitutes the Business. Each of the Policies is in full force and effect. The Company is not in default under any provisions of any Policy, and the Company has not received notice of cancellation or modification of any Policy. There is no claim by the Company pending under any Policy as to which coverage has been questioned, denied or disputed by the underwriters of any Policy, and neither the Company nor any of Sellers has any Knowledge of any basis for denial of any claim under any Policy. The Company has not received any notice from or on behalf of any insurance carrier issuing any Policy that insurance rates therefor shall hereafter be increased or that there shall hereafter be a cancellation or an increase in a deductible (or an increase in premiums in order to maintain an existing deductible) or non-renewal of any Policy. The Policies are sufficient in all respects for compliance by the Company with all requirements of Law and with the requirements of all Material Contracts. (c) Section 4.21(c) of the Disclosure Schedules set forth all outstanding bonds or other surety arrangements issued or entered into in connection with the assets and properties of the Company or the Business.

Insurance Bonds. In addition to the insurance requirements set forth in this Agreement, Borrower agrees to procure and maintain at Borrower’s expense insurance coverage from reputable companies for builder’s risk, fire and extended coverage in an amount equal to the completed value of the Facility with Lender named as mortgagee together with such other property insurance on Borrower’s business as Lender may require; and public liability coverage and insurance against loss under any w▇▇▇▇▇▇’▇ compensation laws. Proof of insurance in compliance with this provision will be provided Lender during the term of this Agreement as Lender may require. Borrower shall retain the services of an inspecting engineer to monitor comparisons with reports and applications for payment received from the general contractor and shall also require the project design engineer to procure a professional liability policy insuring said engineer and shall furnish Lender a copy of said policy [? Will F▇▇▇▇ do this?].

Insurance Bonds. To the extent applicable, Exhibit "C" lists all material policies of fire, liability, worker's compensation and other forms of insurance covering the company's assets or the Company's operations, and all bonds or letters of credit required to be obtained by the Company with respect to its business operations.

Insurance Bonds. The Partnership and each Target Company has delivered to ▇▇▇▇▇▇ and DII (i) an accurate list of all insurance policies carried by each Target Company, (ii) an accurate list of all insurance loss runs or workers compensation claims and (iii) true, complete and correct copies of all insurance policies currently in effect (which are set forth on Schedule 3.20). Such insurance policies evidence ------------- all of the insurance that each Target Company is required to carry pursuant to all of its contracts, loan agreements and other agreements and pursuant to all applicable laws. All of such insurance policies are currently in full force and effect and shall remain in full force and effect through each Target Company's respective Closing Date. No insurance carried by any Target Company has been canceled by the insurer and no Target Company has been denied coverage. No Target Company has performance or other bonds securing obligations of such Target Company.