Insurance of Project Sample Clauses

Insurance of Project. On or before the Commencement Date, the Client shall procure property damage (“Builder’s Risk”) insurance for the Project with limits, deductibles, terms and conditions in accordance with industry practice, acceptable to its Lenders and the Contractor. The insurance shall provided coverage for full replacement value on an “all-risk” basis, except for the perils normally sub limited on an aggregate basis including Flood, Earthquake and Pollution/Hazardous Material Clean Up. The Builder’s Risk insurance shall include as additional insureds the interest of Client, Financing Parties, Financing Parties’ agents, Contractor, design consultants, Subcontractors and suppliers of every tier, and Contractor Indemnified Parties, each of whom is deemed to have an insurable interest. Such insurance shall be written on a Builder’s Risk “all-risk” or open peril or special causes of loss policy form that shall at least include insurance for physical loss or damage to the Work, temporary buildings, Work in transit including inland transit, and Work in storage at the Facility Site or at another location acceptable to Client and Contractor, and shall insure against at least the following perils: fire, lightning, extended coverage, theft, vandalism and malicious mischief, earthquake, collapse, debris removal, demolition occasioned by enforcement of Applicable Laws, water damage, flood, and damage caused by frost and freezing. Such insurance shall remain in effect until Client takes possession and control of the Facility pursuant to Section 6.5.4 of the Agreement. Contractor shall not be required to cover any loss over and above the recoverable insurance, unless loss is caused by the Contractors gross negligence.
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Insurance of Project. The Company shall maintain insurance of such types and in such amounts as are carried, and against such risks as are customarily insured against, by lodging facilities of like size and character as the Project, paying as the same become due all premiums in respect thereto, including without limitation:
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Insurance of Project. Contractor shall, in the joint names of Owner, Contractor, the Grid Authority, the Subcontractors and Financing Parties, insure the Project and keep each part thereof, including but not limited to footers and foundations, insured for its full replacement value on an “all risk” basis. Coverages shall include, but not be limited to fire, explosion and extended perils, expediting expense collapse, earthquake, flood and comprehensive boiler and machinery (including electrical injury and mechanical breakdown). Such insurance shall include all property, equipment, materials and machinery intended for inclusion in or construction of the Project and be effected from the Commencement Date, and thereafter shall operate from the time the relevant property leaves the premises of the manufacturers and shall continue during the ordinary course of transit and/or during storage, if any, and until the date on which Owner takes possession and control of the Facility pursuant to Section 6.4.3. There shall be no exclusion for resultant damage caused by facility workmanship, design or materials. Flood and earthquake coverage shall be provided at maximum limits commercially available at reasonable cost. Deductibles shall be for the account of Contractor.
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Related to Insurance of Project

  • Maintenance of Property; Insurance (a) Keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business.

  • Maintenance of Properties; Insurance The Borrower will, and will cause each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations.

  • Maintenance of Property The Company shall maintain, and shall cause each Subsidiary to maintain, and preserve all its property which is used or useful in its business in good working order and condition, ordinary wear and tear excepted and make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

  • Maintenance of Properties (a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.

  • Maintenance of Property and Insurance Until the End Date, the Company shall keep all of its property, which is necessary or useful to the conduct of its business, in good working order and condition, ordinary wear and tear excepted. Until the End Date, the Company will maintain insurance coverage of the type and not less than the amount in effect as of the Closing Date.

  • Maintenance of Properties, Etc Maintain and preserve, and cause each of its Subsidiaries to maintain and preserve, all of its properties that are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted.

  • Maintenance of Properties and Insurance (a) The Issuer shall cause all material properties owned by or leased by it or any of its Restricted Subsidiaries used or useful to the conduct of its business or the business of any of its Restricted Subsidiaries to be maintained and kept in normal condition, repair and working order and supplied with all necessary equipment and shall cause to be made all repairs, renewals, replacements, and betterments thereof, all as in its judgment may be necessary, so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section 4.05 shall prevent the Issuer or any of its Restricted Subsidiaries from discontinuing the use, operation or maintenance of any of such properties, or disposing of any of them, if such discontinuance or disposal is, in the judgment of the management of the Issuer or any such Restricted Subsidiary desirable in the conduct of the business of the Issuer or any such Restricted Subsidiary; provided, further, that nothing in this Section 4.05 shall prevent the Issuer or any of its Restricted Subsidiaries from discontinuing or disposing of any properties to the extent otherwise permitted by this Indenture.

  • 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.

  • Operation and Maintenance of Properties The Borrower, at its own expense, will, and will cause each Subsidiary to:

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