Insurance / Takaful. The Bank shall not be required to insure / cover any of the Securities held by it in custody unless expressly instructed by the Customer in writing, in which event the Customer shall bear all premium / contribution and other expenses for such insurance / takaful and shall reimburse the Bank immediately upon demand for all amounts incurred by the Bank in connection therewith.

Insurance / Takaful. During the Lease Term, if required or permitted by the Bank under the Offer Letter, the Agent shall maintain Takaful/Insurance Policies for the Property against loss or damage for full replacement value or as otherwise deemed ﬁt by the Bank or by law or custom. The Bank shall be the sole beneﬁciary of any such Insurance. The Insurance Policies shall be taken with an Islamic Takaful company. The Agent shall (i) directly arrange for the Insurance Policies and pay the Insurance Policy premiums directly to the insurance company; (ii) at all times refrain from acting in a manner that may invalidate, risk or increase the cost of such Insurance Policies; (iii) notify the Bank within two (2) days of the occurrence of any event or accident that may lead to a claim under any such Insurance Policies, or which may affect the Bank’s entitlement to compensation under such Insurance Policies.

Insurance / Takaful. The Borrower shall at all times throughout the duration of the Security Documents and at its expense, insure / protect and keep insured / protected the said Property against loss or damage by fire, and such other risks as the Bank may require up to the full insurable value thereof, with any licensed and reputable insurance company / takaful operator, and shall arrange with such insurance company / takaful operator to have the interest of the Bank as chargee / assignee noted thereon on the insurance policy or policies or takaful certificate(s) effected. The Borrower will pay all premiums / contributions in respect thereof and deliver to the Bank all receipts in respect thereof, and the policy or policies of such insurance or takaful certificate(s). All moneys which may be received by virtue of any such policy / certificate shall either. be applied to make good the loss or damage in respect of which the same may have been recovered or (at the option of the Bank and without prejudice to any obligations in the policy of insurance / takaful certificate or to any obligations having priority to the obligations imposed by the Security Documents), or be applied in or towards the discharge or reduction of the monies for the time being hereby secured. The Borrower shall hold all moneys so received on such insurance / takaful in trust for the Bank, and the Bank may receive and give a good discharge for all such moneys. If default is made in effecting, maintaining or renewing any such insurance/ takaful as aforesaid, it shall be lawful for (but not obligatory upon) the Bank to insure / protect and keep insured, protected the same, and all moneys so expended shall be repaid by the Borrower on demand or be debited from the Borrower’s current/savings/loan account or any other account(s) to be opened by the Bank for this purpose, and shall be a charge on the said Property in addition to the moneys hereby secured with the same priority and with interest at the aforesaid rate.

Insurance / Takaful. 5.1 Insurance/Takaful on the Land (a) The Chargor will at all times that this Charge continues to exist keep any building, fixture, or structure now or in future erected on or affixed to the Land properly insured/covered against loss or damage by fire and such other risks as the Chargee requires. The policy/certificate will be on a full reinstatement value basis up to its full insurable/coverable value. The policy/ certificate will be taken up in the Chargor’s name with the insurance/takaful company appointed by the Chargee from time to time. The Chargee’s interest as chargee and loss payee will be endorsed on the policies/certificates. (b) The Chargor will deposit the insurance policies/takaful certificates with the Chargee as chargee, and will from time to time pay the premium/contribution and deliver the relevant receipts to the Chargee. (c) In addition to, and without affecting the agreements and stipulations implied, the obligations imposed, and the rights created, by law, custom and this Charge, the Chargor will, if required by the Chargee, keep insured/covered the whole or any parts of the Land and effects included in this Charge of an insurable/coverable nature against loss or damage by fire and all other such risks and contingencies. (d) The above insurance/takaful will be for such amount, in such names, with such insurers/takaful company, and through such agencies as the Chargee requires from time to time. (e) The cost and expense of taking up the above insurance/takaful will be borne by the Customer and/or the Chargor. (f) If the Chargor does not effect, maintain or renew any such insurance/takaful stated above, the Chargee can (but is not obliged to), at the Customer’s and/or the Chargor’s cost and expense, effect, maintain, or renew any such insurance/takaful as the Chargee may think fit. (g) Without affecting the earlier provisions of this Section (and whether or not the Chargor is in default) it is agreed that, if the Chargee in its absolute discretion considers it necessary, the Chargee can and is hereby expressly authorised by the Chargor to, effect, maintain, or renew any such insurance/takaful as the Chargee may think fit at the Chargor’s cost and expense. (h) The Chargor agrees that the Chargor will not hold the Chargee liable for any negligence as a result of any action taken or omission to effect, take out, maintain, renew or increase any such insurance/takaful or otherwise. The Chargee can retain for its own use and benefit any commi...

Insurance / Takaful. Insurance/ Takaful on the Property (i) in or towards making good the loss or damage in respect of which the money is received; or (ii) at the option of the Bank, in or towards the discharge of any Indebtedness. The Assignor will hold all monies so received on such insurance/takaful in trust for the Bank, and the Bank may receive and give a good discharge for all such monies. Other policy/ certificate The Bank can at any time at its absolute discretion require the Customer and/or the Assignor to take up and maintain a life assurance policy/ general takaful and/or any other policy/certificate guaranteeing the payment of the Indebtedness, whether absolute and/or on the happening of a contingency, and to assign the policy/certificate and all connected benefits and advantages to the Bank as further security for the Indebtedness.

Related to Insurance / Takaful

Insurance Business All insurance policies issued by any Regulated Insurance Company are, to the extent required under applicable law, on forms approved by the insurance regulatory authorities of the jurisdictions where issued or have been filed with and not objected to by such authorities within the period for objection, except for those forms with respect to which a failure to obtain such approval or make such a filing without it being objected to, either individually or in the aggregate, has not had, and could not reasonably be expected to have, a Material Adverse Effect.
Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.
Insurance Term The Consultant shall procure and maintain for the duration of this Agreement, insurance against claims for injuries to persons or damage to property which may arise from or in connection with the performance of the work hereunder by the Consultant, its agents, representatives, or employees.
Insurance Coverages (a) Borrower will maintain such insurance coverages and endorsements in form and substance and in amounts as Lender may require in its sole discretion, from time to time except to the extent such coverages and endorsements are not reasonably commercially available and further provided such coverages and endorsements are not more onerous to Borrower than the types and amounts Lender requires for other properties that are similar in type or location as the Property. Until Lender notifies Borrower of changes in Lender’s requirements, Borrower will maintain not less than the insurance coverages and endorsements Lender required for closing of the Loan except to the extent such coverages and endorsements are not commercially available and are more onerous to Borrower than the types and amounts Lender requires for other properties that are similar in type or location as the Property. (b) The insurance, including renewals, required under this Section will be issued on valid and enforceable policies and endorsements satisfactory to Lender (the "Policies"). Each Policy will contain a standard waiver of subrogation and a replacement cost endorsement and will provide that Lender will receive not less than 30 days’ prior written notice of any cancellation, termination or non-renewal of a Policy or any material change other than an increase in coverage and that Lender will be named under a standard mortgage endorsement as loss payee. (c) The insurance companies issuing the Policies (the "Insurers") must be authorized to do business in the State or Commonwealth where the Property is located, must have been in business for at least 5 years, must carry an A.M. Best Company, Inc. policy holder rating of A-or better and an A.M. Best Company, Inc. financial category rating of (i) Class X or better for all primary liability coverage and the first 80% of liability coverage and (ii) Class VIII or better for all secondary and remaining liability coverage and must be otherwise satisfactory to Lender. Lender may select an alternative credit rating agency and may impose different credit rating standards for the Insurers. Notwithstanding Xxxxxx’s right to approve the Insurers and to establish credit rating standards for the Insurers, Lender will not be responsible for the solvency of any Insurer. (d) Notwithstanding Xxxxxx’s rights under this Article, Xxxxxx will not be liable for any loss, damage or injury resulting from the inadequacy or lack of any insurance coverage. (e) Borrower will comply with the provisions of the Policies and with the requirements, notices and demands imposed by the Insurers and applicable to Borrower or the Property. (f) Borrower will pay the Insurance Premiums for each Policy not less than 30 days before the expiration date of the Policy being replaced or renewed and will deliver to Lender an original or, if a blanket policy, a certified copy of each Policy marked "Paid" not less than 15 days prior to the expiration date of the Policy being replaced or renewed. Borrower shall have the right to pay Insurance Premiums pursuant to an arrangement with one or more finance companies for the financing of certain blanket insurance policies maintained by Borrower under a Property Insurance Sharing Agreement among Borrower and certain of its affiliates (a "Blanket Insurance Premium Financing Arrangement"). Pursuant to such an arrangement Borrower will pay to such finance companies Borrower’s allocable share of the annual initial deposit for the applicable Insurance Premiums (the "Deposit") and Borrower’s allocable share of ten (10) regular monthly payments (the "Regular Payments") due for each blanket policy. The term "Financing Installment" as used herein means 1/12th of the aggregate of the Deposit and the Regular Payments for each annual period, as such amounts may be adjusted as hereafter set forth. Not less than twenty (20) days prior to each renewal date of each blanket policy, Borrower will provide Beneficiary in writing the estimated premium for such blanket policy for the following renewal period, and not less than ten (10) days after the renewal date, Borrower will provide Beneficiary in writing the actual amount of such premium. Borrower will also notify Beneficiary in writing within ten (10) days after any change in the amounts allocated to the Property under the Blanket Insurance Premium Financing Arrangement or any other change in premiums or amounts due from Borrower under the Blanket Insurance Premium Financing Arrangement. Thereafter, the "Financing Installment" shall be adjusted as reasonably determined by Beneficiary. In the event of any material change in the Blanket Insurance Premium Financing Arrangement, the foregoing provisions shall be modified as reasonably determined by Beneficiary in order to carry out the intent and purposes thereof.
Deductibles and Self-Insurance Retentions Any deductibles or self-insured retentions must be declared to and approved by the City. The City may require the Consultant to provide proof of ability to pay losses and related investigation, claims administration and defense expenses within the deductible or self-insured retention. The deductible or self-insured retention may be satisfied by either the named insured or the City.
Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.
Contractor Insurance All insurance shall be procured from companies authorized to do business in the State of Florida, with a minimum of A.M. Best rating of A, or equivalent. Proof of coverage shall be provided by submitting to the University’s Risk Management Office a certificate or certificates, evidencing the existence thereof or insurance binders and shall be delivered within fifteen (15) days of the tentative award date of the Agreement. In the event a binder is delivered, it shall be replaced within thirty (30) days by a certificate in lieu thereto. A renewal certificate shall be delivered to the University’s Risk Management Office at least thirty (30) days prior to the expiration date of each expiring policy. The University, at its sole discretion, has the right to deviate from any of the insurance requirements herein. If the University decides to deviate from the insurance requirements stated herein, the University will inform the Contractor in writing.
Insurance Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.
Insurance Companies Insurance required hereunder shall be in companies duly licensed to transact business in the State of Washington, and maintaining during the policy term a General Policyholders Rating of ‘A-’ or better and a financial rating of ‘IX’ or better, as set forth in the most current issue of “Best’s Insurance Guide.”
Insurance Plans The Executive is eligible to participate in the life, health, dental, short and long-term disability plans made available to the employees of the Company pursuant to the terms and conditions of such plans.

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