Insurance to be Maintained by Owner Sample Clauses

Insurance to be Maintained by Owner. Owner shall, at its own expense, at all times during the period of construction, furnishing, and equipping of the Hotel, and at all times during the Operating Term, procure and maintain the insurance coverages set forth on the attached Exhibit E-l, and prior to the Opening Date, the insurance coverage set forth on the attached Exhibit E-2. All policies of insurance maintained pursuant to this Section 14.1 shall provide that Owner be a named insured or additional insured, as applicable or available, and that Hyatt (and/or any of its Affiliates that may be nominated by Hyatt from time to time) be named as “loss payees” or “co-insured” in respect of the use and occupancy (business interruption) coverage, in accordance with their interests. All such policies shall provide that the insurance company agrees to waive any rights-of subrogation against Hyatt and its Affiliates. Upon request, Owner shall furnish to Hyatt satisfactory evidence of all insurance maintained by Owner pursuant to this Section 14.1.
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Insurance to be Maintained by Owner. Owner shall procure and maintain the following insurance with respect to the Hotel throughout the Term, issued by financially responsible insurance companies selected by Owner and duly licensed and authorized to do business in the jurisdiction in which the Hotel shall be located: (a) Business interruption insurance utilizing an “All Risk” or comparable coverage including flood and earthquake in an amount necessary to provide for not less than one (1) year’s loss of an amount equal to the preceding Fiscal Year’s Gross Receipts less Hotel operating expenses (excluding Management Fees and amounts required to be deposited to the Reserve Fund) for interruptions caused by any covered occurrences which coverage may be maintained by Owner either in separate policies of insurance or as part of Owner’s property, and boiler and machinery coverage; (b) Comprehensive public liability insurance against claims for bodily injury, death or property damage, including insurance on vehicles operated in conjunction with the operation of the Hotel (whether owned, rented or leased), innkeeper’s legal liability, safe deposit legal liability, sprinkler leakage legal liability, water damage legal liability, fire damage legal liability, garage liability and garage keeper’s liability, personal injury liability, advertising liability, contractual liability, liquor liability, completed operations liability and product liability; and (c) Such other insurance in amounts as Owner considers advisable for protection against claims, liabilities and losses arising out of or in connection with the operation of the Hotel. (d) Worker’s compensation insurance in the name of Owner covering all of Owner’s employees at the Hotel, to include employer’s liability, in the amount of Five Hundred Thousand Dollars ($500,000), but in no event less than the statutory amount as required under applicable provisions of law; and (e) Comprehensive crime insurance in the name of Owner including (i) employee dishonesty coverage, covering Owner’s employees in job classifications normally bonded in other hotels or as otherwise required by law, (ii) loss inside the premises coverage, (iii) loss outside the premises coverage, (iv) money orders and counterfeit paper currency coverage, and (v) depositor’s forgery coverage, covering computer fraud. Any insurance obtained by Owner, both insurance described above or any other policies or coverages in addition thereto maintained by Owner, shall provide that its coverage sha...
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Insurance to be Maintained by Owner. 9.1 Owner shall at all times during the period of any development project, procure and maintain, as may be applicable under the development project in question, adequate third party liability and property insurance protecting both Manager and Owner against loss or damage arising in connection with the preparation, construction, refurbishment, upgrading, furnishing and equipping of any of Owner's businesses, including that of contractors, subcontractors and such like in the performance of all construction and related agreements entered into in respect of the development project in question. 9.2 The Manager and the Owner shall agree to take out (as an operating expense) and maintain, at all times, with effect from the opening of the Property and throughout the continuance of this Agreement, under such insurance policies issued by such insurers as the Owner and Manager agreed, adequate coverage in relation to the Property and the related facilities and their operation against risks mutually agreed by Manager and Owner. The Manager and Owner shall agree on the level and adequacy of all insurances, and neither Manager nor Owner shall have any claim against the other with respect to adequacy of level of insurance. Notwithstanding anything to the contracy contained in this agreement, the Manager is responsible to, and shall ensure that, the following classes of insurance are maintained as agreed between Owner and Manager.
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Insurance to be Maintained by Owner. Owner shall, at Owner's expense, obtain and maintain "All Risk" Insurance covering loss or damage to each Project, with such deductibles as Owner shall determine in its sole discretion. Owner shall also maintain Comprehensive or Commercial General Liability Insurance, with such deductibles or self insured retention as Owner shall determine in its sole discretion, with a combined single limit for bodily injury and property damage of One Million Dollars ($1,000,000) and shall, on a primary basis, name Manager as an additional insured for claims arising out of Owner's negligence. Owner shall, at Manager's written request to be made not more than annually, deliver to Manager a certificate issued by Owner's insurance carrier showing such Comprehensive or Commercial General Liability Insurance to be in force.
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Insurance to be Maintained by Owner. The following insurance shall be secured and maintained with respect to the Hotel at all times during the term of this Agreement: (a) All risk property insurance, including fire, windstorm, flood, earthquake and other risks covered by extended coverage endorsements on the Improvements and contents; (b) All risk business interruption insurance, including fire, windstorm, flood, earthquake and other risks covered by extended coverage endorsements for full recovery of the net profits of the Hotel for the entire period of any such business interruption, or not less than twelve (12) months;
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Insurance to be Maintained by Owner 
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Related to Insurance to be Maintained by Owner

  • Separate Insurance Borrower shall not take out separate insurance contributing in the event of loss with that required to be maintained pursuant to this Section 6.1 unless such insurance complies with this Section 6.1.

  • Independent Contractor; Workers’ Compensation Insurance The Contractor is performing as an independent entity under this Contract. No part of this Contract shall be construed to represent the creation of an employment, agency, partnership or joint venture agreement between the parties. Neither party will assume liability for any injury (including death) to any persons, or damage to any property, arising out of the acts or omissions of the agents, employees or subcontractors of the other party. The Contractor shall provide all necessary unemployment and workers’ compensation insurance for the Contractor’s employees, and shall provide the State with a Certificate of Insurance evidencing such coverage prior to starting work under this Contract.

  • Workers' compensation and employer's liability insurance endorsements The following are required: (i) CANCELLATION endorsement which provides that the District is entitled to 30 days prior written notice of cancellation or nonrenewal of the policy, or reduction in coverage, by certified mail, return receipt requested. (ii) WAIVER OF SUBROGATION endorsement which provides that the insurer will waive its right of subrogation against the District, its Trustees, and their officials, employees, volunteers, and agents with respect to any losses paid under the terms of the workers' compensation and employer's liability insurance policy which arise from work performed by the Named Insured for the District.

  • Property and Liability Insurance (a) Borrower shall keep the Improvements insured at all times against such hazards as Lender may from time to time require, which insurance shall include but not be limited to coverage against loss by fire, windstorm and allied perils, general boiler and machinery coverage, and business interruption including loss of rental value insurance for the Mortgaged Property with extra expense insurance. If Lender so requires, such insurance shall also include sinkhole insurance, mine subsidence insurance, earthquake insurance, and, if the Mortgaged Property does not conform to applicable zoning or land use laws, building ordinance or law coverage. In the event any updated reports or other documentation are reasonably required by Lender in order to determine whether such additional insurance is necessary or prudent, Borrower shall pay for all such documentation at its sole cost and expense. Borrower acknowledges and agrees that Lender's insurance requirements may change from time to time throughout the term of the Indebtedness. If any of the Improvements is located in an area identified by the Federal Emergency Management Agency (or any successor to that agency) as an area having special flood hazards, Borrower shall insure such Improvements against loss by flood. All insurance required pursuant to this Section 19(a) shall be referred to as "Hazard Insurance." All policies of Hazard Insurance must include a non-contributing, non-reporting mortgagee clause in favor of, and in a form approved by, Lender. (b) All premiums on insurance policies required under this Section 19 shall be paid in the manner provided in Section 7, unless Lender has designated in writing another method of payment. All such policies shall also be in a form approved by Lender. Borrower shall deliver to Lender a legible copy of each insurance policy (or duplicate original) and Borrower shall promptly deliver to Lender a copy of all renewal and other notices received by Borrower with respect to the policies and all receipts for paid premiums. At least 5 days prior to the expiration date of any insurance policy, Borrower shall deliver to Lender evidence acceptable to Lender that the policy has been renewed. If Borrower has not delivered a legible copy of each renewal policy (or a duplicate original) prior to the expiration date of any insurance policy, Borrower shall deliver a legible copy of each renewal policy (or a duplicate original) in a form satisfactory to Lender within 120 days after the expiration date of the original policy. (c) Borrower shall maintain at all times commercial general liability insurance, workers' compensation insurance and such other liability, errors and omissions and fidelity insurance coverages as Lender may from time to time require. All policies for general liability insurance must contain a standard additional insured provision, in favor of, and in a form approved by, Lender. (d) All insurance policies and renewals of insurance policies required by this Section 19 shall be in such amounts and for such periods as Lender may from time to time require, and shall be issued by insurance companies satisfactory to Lender. (e) Borrower shall comply with all insurance requirements and shall not permit any condition to exist on the Mortgaged Property that would invalidate any part of any insurance coverage that this Instrument requires Borrower to maintain. (f) In the event of loss, Borrower shall give immediate written notice to the insurance carrier and to Lender. Borrower hereby authorizes and appoints Lender as attorney-in-fact for Borrower to make proof of loss, to adjust and compromise any claims under policies of Hazard Insurance, to appear in and prosecute any action arising from such Hazard Insurance policies, to collect and receive the proceeds of Hazard Insurance, and to deduct from such proceeds Lender's expenses incurred in the collection of such proceeds. This power of attorney is coupled with an interest and therefore is irrevocable. However, nothing contained in this Section 19 shall require Lender to incur any expense or take any action. Lender may, at Lender's option, (i) require a "repair or replacement" settlement, in which case the proceeds will be used to reimburse Borrower for the cost of restoring and repairing the Mortgaged Property to the equivalent of its original condition or to a condition approved by Lender (the "Restoration"), or (ii) require an "actual cash value" settlement in which case the proceeds may be applied to the payment of the Indebtedness, whether or not then due. To the extent Lender determines to require a repair or replacement settlement and apply insurance proceeds to Restoration, Lender shall apply the proceeds in accordance with Lender's then-current policies relating to the restoration of casualty damage on similar multifamily properties. (g) Notwithstanding any provision to the contrary in this Section 19, as long as no Event of Default, or any event which, with the giving of Notice or the passage of time, or both, would constitute an Event of Default, has occurred and is continuing, (i) in the event of a casualty resulting in damage to the Mortgaged Property which will cost $10,000 or less to repair, the Borrower shall have the sole right to make proof of loss, adjust and compromise the claim and collect and receive any proceeds directly without the approval or prior consent of the Lender so long as the insurance proceeds are used solely for the Restoration of the Mortgaged Property; and (ii) in the event of a casualty resulting in damage to the Mortgaged Property which will cost more than $10,000 but less than $50,000 to repair, the Borrower is authorized to make proof of loss and adjust and compromise the claim without the prior consent of Lender, and Lender shall hold the applicable insurance proceeds to be used to reimburse Borrower for the cost of Restoration of the Mortgaged Property and shall not apply such proceeds to the payment of sums due under this Instrument. (h) Lender will have the right to exercise its option to apply insurance proceeds to the payment of the Indebtedness only if Lender determines that at least one of the following conditions is met: (i) an Event of Default (or any event, which, with the giving of Notice or the passage of time, or both, would constitute an Event of Default) has occurred and is continuing; (ii) Lender determines, in its discretion, that there will not be sufficient funds from insurance proceeds, anticipated contributions of Borrower of its own funds or other sources acceptable to Lender to complete the Restoration; (iii) Lender determines, in its discretion, that the rental income from the Mortgaged Property after completion of the Restoration will not be sufficient to meet all operating costs and other expenses, Imposition Deposits, deposits to reserves and loan repayment obligations relating to the Mortgaged Property; (iv) Lender determines, in its discretion, that the Restoration will not be completed at least one year before the Maturity Date (or six months before the Maturity Date if Lender determines in its discretion that re-leasing of the Mortgaged Property will be completed within such six-month period); or (v) Lender determines that the Restoration will not be completed within one year after the date of the loss or casualty. (i) If the Mortgaged Property is sold at a foreclosure sale or Lender acquires title to the Mortgaged Property, Lender shall automatically succeed to all rights of Borrower in and to any insurance policies and unearned insurance premiums and in and to the proceeds resulting from any damage to the Mortgaged Property prior to such sale or acquisition. (j) Unless Lender otherwise agrees in writing, any application of any insurance proceeds to the Indebtedness shall not extend or postpone the due date of any monthly installments referred to in the Note, Section 7 of this Instrument or any Collateral Agreement, or change the amount of such installments. (k) Borrower agrees to execute such further evidence of assignment of any insurance proceeds as Lender may require.

  • Workers’ Compensation/Employer’s Liability Insurance The minimum limits of Workers’ Compensation/Employer’s Liability insurance are: Part One: Part Two: “Statutory” Each Accident $1,000,000 Disease – Policy Limit $1,000,000 Disease – Each Employee $1,000,000

  • Workers’ Compensation Insurance Contractor shall obtain and maintain a policy of workers’ compensation insurance for all of Contractor’s employees in accordance with the provisions of Labor Code Sections 3700, et seq., and all other applicable laws and requirements. In case any class of employee is not protected under the workers’ compensation laws for any reason, Contractor shall provide adequate coverage as shall be necessary for the protection of such employees. Prior to commencement of the Work, Contractor shall sign and file with District a certification regarding insurance for workers’ compensation in accordance with Labor Code Section 1861.

  • Worker's Compensation and Employer's Liability Insurance The Contractor shall have in effect during the entire life of this Agreement Workers' Compensation and Employer's Liability Insurance providing full statutory coverage. In signing this Agreement, the Contractor certifies, as required by Section 1861 of the California Labor Code, that it is aware of the provisions of Section 3700 of the California Labor Code which requires every employer to be insured against liability for Worker's Compensation or to undertake self-insurance in accordance with the provisions of the Code, and I will comply with such provisions before commencing the performance of the work of this Agreement.

  • Insurance and Liability 13.1 The Contractor shall pay UNDP promptly for all loss, destruction, or damage to the property of UNDP caused by the Contractor’s personnel or by any of its subcontractors or anyone else directly or indirectly employed by the Contractor or any of its subcontractors in the performance of the Contract. 13.2 Unless otherwise provided in the Contract, prior to commencement of performance of any other obligations under the Contract, and subject to any limits set forth in the Contract, the Contractor shall take out and shall maintain for the entire term of the Contract, for any extension thereof, and for a period following any termination of the Contract reasonably adequate to deal with losses: 13.2.1 insurance against all risks in respect of its property and any equipment used for the performance of the Contract;

  • General liability insurance endorsement The following are required: (i) ADDITIONAL INSURED endorsement naming the District, its Board of Trustees, and their officials, employees, volunteers, and agents as additional insureds. (ii) CANCELLATION endorsement which provides that the District is entitled to 30 days prior written notice of cancellation or nonrenewal of the policy, or reduction in coverage, by certified mail, return receipt requested. (iii) CONTRIBUTION NOT REQUIRED endorsement which provides that the insurance afforded by the general liability policy is primary to any insurance or self-insurance of the District, its Board of Trustees, or their officials, employees, volunteers, or agents as respects operations of the Named Insured. Any insurance maintained by the District, its Board of trustees, or their officials, employees, volunteers, or agents shall be in excess of Contractor's insurance and shall not contribute to it. (iv) SEVERABILITY OF INTEREST endorsement which provides that Contractor's insurance shall apply separately to each insured against whom a claim is made or suit is brought, except with respect to the limits of the insurer's liability. (v) ADDITIONAL INSURED COVERAGE NOT AFFECTED BY INSURED'S DUTIES AFTER ACCIDENT OR LOSS endorsement. The policy must be endorsed to provide that any failure to comply with the reporting provisions of the policy shall not affect coverage to the District, its Board of Trustees, or their officials, employees, volunteers, or agents.

  • Hazard and Liability Insurance The Administrative Agent shall have received certificates of insurance, evidence of payment of all insurance premiums for the current policy year of each, and, if requested by the Administrative Agent, copies (certified by a Responsible Officer) of insurance policies in the form required under the Security Documents and otherwise in form and substance reasonably satisfactory to the Administrative Agent.

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