Common use of Insurance Policy Requirements Clause in Contracts

Insurance Policy Requirements. All insurance policies required by this Agreement will (a) provide coverage on an "occurrence" basis; (b) provide that no cancellation, non-renewal or change will be effected without giving the other Party at least thirty days' prior written notice; and (c) be valid and enforceable policies issued by insurers of recognized responsibility, properly licensed in the state where the Project is located, with an A.M. Best's Rating of A- or better and Class VII or better. Such insurance policies will not contain a cross-liability exclusion or an exclusion for punitive or exemplary damages where insurable under law. On or before the Commencement Date and, thereafter, within five business days of renewal, certificates and endorsements of such insurance will be delivered to the other Party, as appropriate, as evidence of the specified insurance coverage. From time to time, upon a Party's request, the other Party will provide the requesting Party, within five business days, a certified duplicate original of any policy required to be maintained hereunder.

Appears in 2 contracts

Samples: Ethanol Merchandising Agreement (Southwest Iowa Renewable Energy, LLC), Ethanol Merchandising Agreement (Southwest Iowa Renewable Energy, LLC)

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Insurance Policy Requirements. All insurance policies required by this Agreement will (a) provide coverage on an "occurrence" basis; (b) provide that no cancellation, cancellation or non-renewal or change will be effected without giving the other Party at least thirty days' (30) days prior written notice, except ten (10) days’ notice for non-payment of premium; and (c) be valid and enforceable policies issued by insurers of recognized responsibility, properly licensed in the state State where the Project Facility is located, with an A.M. Best's ’s Rating of A- or better and Class VII or better. Such insurance General Liability and Excess/Umbrella Liability policies will not contain a cross-liability exclusion exclusion, or an exclusion for punitive or exemplary damages where insurable under law. On or before Prior to the Commencement Effective Date and, thereafter, within five business days of renewal, certificates and endorsements of such insurance will be delivered to the other Party, as appropriate, as evidence of the specified insurance coverage. From time to time, upon a Party's ’s request, the other Party will provide the requesting Party, within five business days, a certified duplicate original of any policy required to be maintained hereunder. Each Party will provide the other Party at least thirty (30) days prior written notice of any material change or amendment to a Party’s insurance policy.

Appears in 1 contract

Samples: Ethanol Purchase Agreement (Southwest Iowa Renewable Energy, LLC)

Insurance Policy Requirements. All insurance policies required by this Agreement will (a) provide coverage on an "occurrence" basis; (b) provide that no cancellation, cancellation or non-renewal or change will be effected without giving the other Party at least thirty days' (30) days prior written notice, except ten (10) days notice for non-payment of premium; and (c) be valid and enforceable policies issued by insurers of recognized responsibility, properly licensed in the state State where the Project Facility is located, with an A.M. Best's Rating of A- or better and Class VII or better. Such insurance General Liability and Excess/Umbrella Liability policies will not contain a cross-liability exclusion exclusion, or an exclusion for punitive or exemplary damages where insurable under law. On or before Prior to the Commencement Effective Date and, thereafter, within five business days of renewal, certificates and endorsements of such insurance will be delivered to the other Party, as appropriate, as evidence of the specified insurance coverage. From time to time, upon a Party's request, the other Party will provide the requesting Party, within five business days, a certified duplicate original of any policy required to be maintained hereunder. Each Party will provide the other Party at least thirty (30) days prior written notice of any material change or amendment to a Party's insurance policy.

Appears in 1 contract

Samples: Ethanol Purchase Agreement (Southwest Iowa Renewable Energy, LLC)

Insurance Policy Requirements. All insurance policies required by this Agreement will (a) provide coverage on an "occurrence" basis; (b) provide that no cancellation, non-renewal or change will be effected without giving the other Party at least thirty days' prior written notice; and (c) be valid and enforceable policies issued by insurers of recognized responsibility, properly licensed in the state State where the Project Facility is located, with an A.M. Best's ’s Rating of A- or better and Class VII or better. Such insurance policies will not contain a cross-liability exclusion or an exclusion for punitive or exemplary damages where insurable under law. On or before Prior to the Commencement Effective Date and, thereafter, within five business days of renewal, certificates and endorsements of such insurance will be delivered to the other Party, as appropriate, as evidence of the specified insurance coverage. From time to time, upon a Party's ’s request, the other Party will provide the requesting Party, within five business days, a certified duplicate original of any policy required to be maintained hereunder.

Appears in 1 contract

Samples: Corn Oil Agency Agreement (Southwest Iowa Renewable Energy, LLC)

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Insurance Policy Requirements. All insurance policies required by this Agreement will (a) provide coverage on an "occurrence" basis; (b) provide that no cancellation, non-renewal or change will be effected without giving the other Party at least thirty days' prior written notice; and (c) be valid and enforceable policies issued by insurers of recognized responsibility, properly licensed in the state State where the Project Facility is located, with an A.M. Best's Rating of A- or better and Class VII or better. Such insurance policies will not contain a cross-liability exclusion or an exclusion for punitive or exemplary damages where insurable under law. On or before Prior to the Commencement Effective Date and, thereafter, within five business days of renewal, certificates and endorsements of such insurance will be delivered to the other Party, as appropriate, as evidence of the specified insurance coverage. From time to time, upon a Party's request, the other Party will provide the requesting Party, within five business days, a certified duplicate original of any policy required to be maintained hereunder.

Appears in 1 contract

Samples: Distillers Grain Purchase Agreement (Southwest Iowa Renewable Energy, LLC)

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