Insurance by Manager Sample Clauses

Insurance by Manager. Any insurance provided by Manager under this Article V may, subject to Lessee's approval, be effected under policies of blanket insurance which cover other properties of Manager and its Affiliates, and Manager shall have the right to charge the Hotel with the Hotel's pro rata share of such premiums shall be allocated to the Hotel on the same basis as allocated to participating Other Managed Hotels. Any policies of insurance maintained by Manager pursuant to the provisions of this Article V may contain deductible provisions in such amounts as are maintained with respect to Other Managed Hotels, for which Lessee shall be responsible or which Manager, at Lessee's expense, may pay.
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Insurance by Manager. 29 5.2 Parties Insured, Amount of Coverage, Etc................................. 30 5.3 Evidence of Insurance, Etc............................................... 31 5.4
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Insurance by Manager a. Subject to Section 5.1(b), Manager shall, at all times during the term of this Agreement and at Westboy's cost and expense, maintain insurance coverage on the Hotels and the business conducted therein substantially similar to that maintained for other Affiliated Hotels. Such insurance includes, as of the date hereof:
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Insurance by Manager. Any insurance provided by Manager under this Section 5 may, at its option, be effected under policies of blanket insurance which cover other properties of Manager and its Affiliates, and a pro rata portion of such premiums shall be allocated to the Hotel on the same basis as allocated to participating Other Omni Hotels. Any policies of insurance maintained by Manager pursuant to the provisions of this Section 5 may contain deductible provisions in such amounts as are maintained with respect to Other Omni Hotels, for which Owner shall be responsible or which Manager, at Owner’s expense, may pay. The parties hereby acknowledge that Manager is a nonsubscriber to the workers compensation system, and further that Manager does not maintain Employment Practice Liability Insurance; provided, however, if the City requests Employment Practice Liability Insurance and such insurance policy can be provided by Manager in such manner that it is solely applicable to the Hotel (and not other hotels managed by Manager), then Manager shall obtain such Employment Practice Liability Insurance, the costs of which shall be an Operating Expense of the Hotel.
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Insurance by Manager. Any insurance provided by Manager under this Article 5 may, at its option, be effected under policies of blanket insurance which cover other properties of Manager and its Affiliates, and a pro rata portion of such premiums shall be allocated to the Hotel on the same basis as allocated to participating Other Hilton Hotels. Any policies of insurance maintained by Manager pursuant to the provisions of this Article 5 may contain deductible provisions in such amounts as are maintained with respect to Other Hilton Hotels, for which Corporation shall be responsible or which Manager, at Corporation's expense, may pay. Further, in lieu of all or a part of commercial general liability insurance and worker's compensation and employer's liability insurance, Manager, with the prior written consent of the Trustee, may self-insure the risks required to be covered by such insurance policies through a self- insurance or assumption of risk program similar to those in effect at Other Hilton Hotels, up to such amounts which such risks are assumed or self-insured at Other Hilton Hotels. Notwithstanding the foregoing, Corporation shall have the right to obtain all or some of the insurance for the Hotel other than those coverages contemplated in Sections (f), (g) and (h) of Exhibit L.‌
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Insurance by Manager. Each Facility that meets and continues to meet the underwriting and approval criteria required to participate in Manager's master insurance program (the "Master Insurance Program") will be included in that Master Insurance Program and/or provided with at least the same benefits and coverages as provided in the Master Insurance Program, subject to the terms and conditions of this paragraph. Subject to the terms of this Agreement, Manager shall use commercially reasonable efforts to ensure that each Facility meets the underwriting and approval criteria throughout the term of this Agreement. Provided, however, in the event than any Facility fails to meet the underwriting and approval criteria at any point in time either due to (i) a change in such underwriting requirements or (ii) a Facility's loss history, that Facility will no longer be eligible to participate in the Master Insurance Program and, at the election of Cypress, either Cypress or Manager will arrange for separate coverage, which may increase the cost to Cypress of any such coverage. Manager will obtain (except as otherwise set forth), at Owner's expense, at least the following insurance either as part of the Master Insurance Program or separately:
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Insurance by Manager. Any insurance provided by Manager under this Article V may, at its option, be effected under policies of blanket insurance which cover other properties of Manager and its Affiliates, and Manager shall have the right to charge the Hotel with the Hotel's pro rata share of the aggregate premiums charged by Manager to all participating Managed Hotels, such share to be allocated to the Hotel on the same basis as allocated to participating Other Managed Hotels. Subject to Owner and Manager agreeing upon such matters as the identification of the relevant records, the procedures for reviewing such records, and limitations on use or disclosure of the information contained in such records, to the extent any insurance coverage relating to this Agreement is effected under a policy of blanket insurance, Manager shall make its books and records available, upon Owner's request and at Owner's expense, in sufficient detail for Owner to verify the allocation and calculation of premiums. Any policies of insurance maintained by Manager pursuant to this Article V may contain deductible provisions in such amounts as are maintained with respect to Other Managed Hotels, for which Owner shall be responsible or which Manager, at Owner's expense, may pay. Further, in lieu of all or a part of commercial general liability insurance, workers' compensation and employer's liability insurance and employment practices liability insurance under clauses (e), (g) and (h) of Subsection 5.01.1, any or all of the risks covered by such insurance, at Manager's option, may be self-insured or self-assumed by Owner under a self-insurance or assumption of risk program similar to those in effect at Other Managed Hotels, up to such amounts which such risks are self-insured or assumed at Other Managed Hotels. Embassy Suites __________ Management Agreement
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Insurance by Manager. Manager shall obtain the worker's compensation insurance and fidelity bonds reasonably required by Owner pursuant to the terms hereof, such worker's compensation insurance to be at Owner's expense as provided in SECTION 2.4 hereof and such fidelity bonds to be at Manager's expense as provided in SECTION 2.4 hereof and SECTION 5.3 hereof. In addition, Manager shall, at its expense which is not reimbursable, obtain and keep in force, commercial general liability and automobile liability insurance relating to its activities and those of its employees and agents with respect to the performance of its obligations under this Agreement. Such insurance shall be with companies and in an amount reasonably acceptable to Owner. Owner shall be named as a named insured on such commercial general liability policy. Manager hereby waives, and shall cause its insurer to waive, all rights to subrogation with respect to losses payable under such policies.
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Insurance by Manager. Any insurance provided by Manager under this Article 5 may be effected under policies of blanket insurance which cover other properties of Manager and its affiliates, and Manager shall have the right to charge the Property with the Property’s pro rata share of such premiums, which shall be allocated to the Property on the same basis as allocated to other properties participating in such coverage. Such allocation must be reasonable and not result in higher costs or diminished or altered coverage than those that would be incurred if such insurance covered just the Property. Any policies of insurance maintained by Manager pursuant to the provisions of this Article 5 may contain deductible provisions in such amounts as are maintained with respect to other properties participating in such coverage, for which Lessee shall be responsible or which Manager, at Lessee’s expense, may pay.
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Related to Insurance by Manager

  • Insurance by Security Agent (a) The Security Agent shall not be obliged:

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Manager's Insurance Manager shall, on its own behalf and at its sole ------------------- cost and expense, procure and maintain in force during the term of this Agreement policies in the following categories in the amount indicated:

  • Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies (a) The Master Servicer shall cause to be maintained, for each Mortgage Loan, hazard insurance with extended coverage in an amount that is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (y) the outstanding principal balance of the Mortgage Loan and (z) an amount such that the proceeds of such policy shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. Any amounts collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or amounts released to the Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property is located at the time of origination of the Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan. Such flood insurance shall be in an amount equal to the least of (i) the original principal balance of the related Mortgage Loan, (ii) the replacement value of the improvements which are part of such Mortgaged Property, and (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program.

  • Standard Hazard Insurance and Flood Insurance Policies (a) For each Mortgage Loan, the Master Servicer shall enforce any obligation of the Servicers under the related Servicing Agreements to maintain or cause to be maintained standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of the related Servicing Agreements. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance.

  • Hazard Insurance All buildings or other customarily insured improvements upon the Mortgaged Property are insured by an insurer acceptable under the Fxxxxx Mae Guides, against loss by fire, hazards of extended coverage and such other hazards as are provided for in the Fxxxxx Mxx Guides or by the Fxxxxxx Mac Guides, in an amount representing coverage not less than the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loans and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If the Mortgaged Property is a condominium unit, it is included under the coverage afforded by a blanket policy for the project. If required by the FDPA, the Mortgage Loan is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and conforming to Fxxxxx Mxx and Fxxxxxx Mac requirements, in an amount not less than the amount required by the FDPA. Such policy was issued by an insurer acceptable under the Fxxxxx Mae Guides or the Fxxxxxx Mac Guides. The Mortgage obligates the Mortgagor thereunder to maintain all such insurance at the Mortgagor's cost and expense, and upon the Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain such insurance at the Mortgagor's cost and expense and to seek reimbursement therefor from the Mortgagor. All such standard hazard and flood policies are in full force and effect and on the date of origination contained a standard mortgagee clause naming the Seller and its successors in interest and assigns as loss payee; such clause is still in effect and all premiums due on any such policies have been paid in full. No originator, seller, prior owner of the Mortgage Loan, borrower or any other Person, has engaged in any act or omission that would impair the coverage of any such insurance policy, the benefits of the endorsement provided for therein, or the validity and binding effect of either, including, without limitation, the provision or receipt of any unlawful fee, commission, kickback, or other compensation or value of any kind. No action, inaction, or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any such insurance policies, regardless of the cause of such failure of coverage.

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