Common use of Insurance Restrictions Clause in Contracts

Insurance Restrictions. All insurance provided for under this Agreement will be reasonably effected under valid enforceable policies issued by insurers rated “A-” or better by A.M. Best and reasonably acceptable to the City. On or before the Closing Date, a certificate procured by Redeveloper pursuant to Section 13.1 (or certificates thereof) will be delivered to the City at least ten (10) business days prior to the expiration date of any policy, the original renewal policy (or certificates thereof) for such insurance will be delivered by the Redeveloper to the City as aforesaid, together with satisfactory evidence or other confirmation of payment of the premium thereon. All policies referred to in Section 13.1 will, to the extent then generally obtainable, contain agreements by the insurers that (a) any loss will be payable to the City, notwithstanding any act or negligence of the Redeveloper which might otherwise result in forfeiture of said insurance, (b) such policies may not be canceled except upon ten (10) business days prior written notice to each named insured and loss payee, and (c) the coverage afforded thereby must not be affected by the performance of any work in or about the Project Site.

Insurance Restrictions. All insurance provided for under this Agreement will be reasonably effected under valid enforceable policies issued by insurers rated “A-A” or better by A.M. Best and reasonably acceptable to the City. On or before the Closing Date, a certificate procured by Redeveloper pursuant to Section 13.1 (or certificates thereof) will be delivered to the City at least ten thirty (1030) business days prior to the expiration date of any policy, the original renewal policy (or certificates thereof) for such insurance will be delivered by the Redeveloper to the City as aforesaid, together with satisfactory evidence or other confirmation of payment of the premium thereon. All policies referred to in Section 13.1 will, to the extent then generally obtainable, contain agreements by the insurers that (a) any loss will be payable to the City, notwithstanding any act or negligence of the Redeveloper which might otherwise result in forfeiture of said insurance, (b) such policies may not be canceled except upon ten thirty (1030) business days prior written notice to each named insured and loss payee, and (c) the coverage afforded thereby must not be affected by the performance of any work in or about the Project Site.

Insurance Restrictions. All insurance provided for under this Agreement will be reasonably effected under valid enforceable policies issued by insurers rated “A-” or better by A.M. by A. M. Best and reasonably acceptable to the City. On or before the Closing Date, a certificate procured by Redeveloper pursuant to Section 13.1 14.1 (or certificates thereof) will be delivered to the City at least ten thirty (1030) business days prior to the expiration date of any policy, the original renewal policy (or certificates thereof) for such insurance will be delivered by the Redeveloper to the City as aforesaid, together with satisfactory evidence or other confirmation of payment of the premium thereon. All policies referred to in Section 13.1 14.1 will, to the extent then generally obtainable, contain agreements by the insurers that (a) any loss will be payable to the City, notwithstanding any act or negligence of the Redeveloper which might otherwise result in forfeiture of said insurance, (b) such policies may not be canceled except upon ten thirty (1030) business days prior written notice to each named insured and loss payee, and (c) the coverage afforded thereby must not be affected by the performance of any work in or about the Project Site.