Insurance Indemnifications Sample Clauses
The "Insurance & Indemnifications" clause requires parties to maintain specified insurance coverage and outlines responsibilities for compensating losses or damages arising from the agreement. Typically, this clause details the types and minimum amounts of insurance each party must carry, such as general liability or professional indemnity, and sets out the process for indemnifying the other party against claims, costs, or liabilities caused by breaches or negligence. Its core function is to allocate risk between the parties, ensuring that financial protection is in place and clarifying who bears responsibility in the event of loss or legal claims.
Insurance Indemnifications. A. Purchaser must obtain insurance or maintain insurance covering Artist’s performance, including but not limited to: comprehensive general liability in the amount required by the venue but in no event less than one million ($1,000,000.00) single limit, both for bodily injury and property damage. This insurance coverage shall be in full force and effect at all times that Artist is in the confines of the venue, its property or in transit thereto.
B. Artist shall not be liable for injury to any guest, patron, investor, owner, employee or independent contractor or for damage to venue property, fixtures, or personal property caused by any person, including as a result of the installation or operation or equipment provided by Artist unless caused by gross negligence or Artist or Artist’s agents.
▇. ▇▇▇▇▇▇▇▇▇ shall defend and hold Artist, its officers, employees or agents harmless from and against any and all liability, loss, expense (including reasonable attorney’s fees), or claims for injury or damages arising out of the performance of this Agreement but only to the extent such damages are caused by or result from the negligent or intentional acts or omissions of the Purchaser, its officers, agents, or employees.
D. Artist shall defend and hold Purchaser, its officers, employees or agents harmless from and against any and all liability, loss, expense (including reasonable attorney’s fees), or claims for injury or damages arising out of the performance of this Agreement but only to the extent such damages are caused by or result from the negligent or intentional acts or omissions of the Artist, its officers, agents, or employees.
Insurance Indemnifications. As long as any Secured Obligations (other than inchoate indemnity obligations) are outstanding, the Obligors agree as follows:
Insurance Indemnifications. Seller has not received notices by any insurance company which has issued a policy with respect to any portion of any Subject Property, or by any board of fire underwriters, or from any governmental authority, of zoning, building, fire or health code violations in respect to any Subject Property.
Insurance Indemnifications. Recognizing that certain risks are inherent in the ownership and operation of real property and that many risks are insurable and that liability for such damage may be incurred by both Owner and Manager arising from such activities and that Owner has substantial financial investment in the Project, Owner and Manager hereby agree that Owner shall, as provided in this Agreement, at Owner's expense, secure and maintain in amounts mutually agreed upon, insurance to cover potential risks associated with ownership of the Project and operation thereof. Such potential risks insured shall include, but not be limited to public liability risk, automobile liability risk, boiler and machinery risk, building and contents damage risk, property management activities and risks, and such other risks as Owner and Manager may determine are necessary for inclusion in insurance coverage to provide such protection for the interests of the parties involved. Such policies shall be written so as to name Manager and/or its subsidiaries and affiliates as "Manager" or "Property Manager" for the Project and additionally written so as to protect Manager to the same extent as the Owner and provide for thirty (30) day Notice of Cancellation to Manager. Such insurance shall be primary and not excess or contributory as to such insureds. Recognizing that Owner bears the primary risk as a result of its financial investment in the Project and recognizing Manager is covered on insurance policies to the same extent as Owner, and further recognizing that Manager's economic interest in the Project is relatively small when compared to Owner's financial investment in the Project and increase in the value thereof, and recognizing therefore that liability must be reasonably proportionate to the parties respective financial interest in the Project, and in keeping with the provisions of this Agreement regarding insurance liability and potential liability, Owner agrees to indemnify, save and hold Manager and its parents, subsidiaries, affiliates, principals, officers, employees, and agents, (collectively "Indemnitees") free and harmless for errors in judgment and acts or omissions made, done or omitted in the good faith exercise of the authority conferred upon Manager by this Agreement, any liability with respect to the Project whether such liability is caused or contributed to by the negligence of the Indemnitees, arising out the occupancy, management, operation or maintenance of the Project and from al...
Insurance Indemnifications. (a) Borrower shall obtain and maintain the following types of insurance upon and relating to the Property:
(i) All Risk or Special Causes of Loss Property Form including Business Interruption.
(A) Comprehensive all risk insurance (including, without limitation, coverage against riot and civil commotion, vandalism, malicious mischief, water, mold (based on a covered peril), fire, burglary, theft and terrorism) on the improvements to and all other insurable portions of the Property and in each case (1) insuring against any peril now or hereafter included within the classification “Special Form Cause of Loss,” (2) in an amount equal to 100% of the “Full Replacement Cost,” (3) containing an agreed amount endorsement with respect to the improvements, equipment and all other insurable portions of the Property waiving all co-insurance provisions, and (4) providing that the deductible shall not exceed the sum of $100,000.00, unless agreed to in writing by GECC. “Full Replacement Cost” means the actual replacement cost of the improvements and equipment (without taking into account any depreciation, and exclusive of excavations, footings and foundations, landscaping and paving) determined annually by an insurer, a recognized independent insurance broker or an independent appraiser selected and paid by Borrower and in no event less than the coverage required pursuant to the terms of either Lease.
Insurance Indemnifications