Insured Retention Sample Clauses

Insured Retention. Any self-insured retentions must be declared to and approved by STA prior to execution of this Agreement. STA reserves the right to require that self-insured retentions be lowered, eliminated or replaced by a deductible. Self-insurance or self-insured retentions will not be considered to comply with these specifications unless approved in writing by STA prior to execution of this Agreement.
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Insured Retention. Our obligation to indemnify the insured applies only when the amount of loss and claim expense exceeds the Self-Insured Retention amount stated in the Common Policy Declarations per accident.
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Insured Retention. Under the terms of the OCIP Policy, the only parties who are responsible for payment of the Policy’s self-insured retention are Owner and Contractor. However, in the event of an occurrence which requires Contractor to satisfy its self-insured retention in whole or in part and which arises out of work by or for Subcontractor (or its sub-subcontractors), Subcontractor shall owe Contractor a reasonably allocated share of the self-insured retention (the “contractual share payment”). Contractor shall determine the contractual share payment after careful consideration of the nature of the allegations, potential liability exposure, Subcontractor’s Work and the number of parties with allegations related to their scope of work. The maximum amount of the contractual share payment for Enrolled Parties whose scopes of work or services involve concrete, roofing, framing, siding, plumbing, electrical, sheet metal, stucco, grading, water proofing, HVAC, insulation, and drywall shall be $50,000 unless the claimant (e.g., the injured claimant, homeowner, or homeowners association) asserts or alleges a failure by that Enrolled Party to comply with applicable building codes or to meet the building standards set forth in Civil Code section 896, et seq., at which time the maximum amount of the contractual share payment shall be $100,000. The maximum amount of the contractual share payment for all other Enrolled Parties shall be $25,000. If multiple subcontractors’ obligations to pay contractual share payments are triggered in a single occurrence, then the total amount to be reimbursed to Contractor shall not exceed the total self-insured retention it must satisfy. If the aggregate of contractual share payments collected exceeds Contractor’s self-insured retention, each subcontractor’s contractual share payment shall be reduced pro rata so the aggregate equals Contractor’s self-insured retention amount. Contractor may backcharge Subcontractor (or may withhold from monies otherwise owing to Subcontractor or may collect by any other means provided in the Contract Documents) any contractual share payment owing. This contractual share obligation shall remain uninsured by Subcontractor and will not be covered by the OCIP insurance policies. The OCIP is not intended to provide coverage for routine warranty service during the first 12 months after any home is delivered and the contractual share payment limit discussed above shall not apply to warranty issues, nor does it cover propert...
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Insured Retention. Any self-insured retention in excess of $5,000 must be declared to and approved by MST. To apply for approval for a level of retention in excess of $10,000 CONTRACTOR must provide a current financial statement documenting the ability to pay claims falling within the self-insured retention. At the option of MST, either: the insurer shall reduce or eliminate such self-insured retention as respects MST, its officers, officials, employees and volunteers; or the propose/bidder shall procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses.
Sample 1
Insured Retention. Any self-insured retentions must be declared to and approved by STA prior to execution of this Agreement. STA reserves the right to require that self-insured retentions be lowered, eliminated or replaced by a deductible. Self-insurance or self-insured retentions will not be considered to comply with these specifications unless approved in writing by STA. Primary & Noncontributory. Contractor’s insurance shall be considered primary and noncontributory in the event of a loss, damage or suit. STA’s own comprehensive general liability policy will be considered excess coverage in respect to STA. Additionally, the Contractor’s commercial general liability policy must provide cross-liability coverage as would be achieved under a standard ISO separation of insureds clause.
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Insured Retention. The Self-Insured Retention shall be subject to the following provisions:
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Insured Retention. The Contractor shall not have a Self-Insured Retention (“SIR”) on any policy greater than $50,000; any and all SIRs shall remain the Contractor’s responsibility. In the event any policy includes an SIR, the Contractor shall provide the additional insured requirements specified herein within the SIR.
Sample 1
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Insured Retention. Rail Operator shall be responsible, at its own expense, for payment of a self-insured retention, including defense costs and other claim expenses, for losses payable under the PPL Policy that are attributable to Rail Operator’s acts, errors, or omissions, or the acts, errors, or omissions of any person or entity for whom Rail Operator may be responsible. The amount of the self-insured retention shall be based on the amount of Railroad Operator’s annual practice xxxxxxxx, all determined at the time the Agreement is executed, as follows: $50,000 per claim for PPL Insureds whose firms have annual xxxxxxxx under $20,000,000; $1,000,000 per claim for PPL Insureds whose firms have annual xxxxxxxx over $20,000,000.
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Related to Insured Retention

  • Self-Insured Retentions Self-insured retentions must be declared to and approved by City. City may require Contractor to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. The policy language shall provide, or be endorsed to provide, that the self- insured retention may be satisfied by either the named insured or City.

  • Self-Insured Retention/Deductibles Certificates of Insurance must indicate the applicable deductible/self-insured retention on each policy. Deductibles or self-insured retentions above $100,000 are subject to approval from OGS, which shall not be unreasonably withheld, conditioned or delayed. Vendor and Contractors shall be solely responsible for all claim expenses and loss payments within the deductible or self-insured retention.

  • Deductibles and Self-Insured Retention Any deductible or self-insured retention that apply to any insurance required by this Agreement must be declared and approved by COUNTY.

  • Deductibles and Self-Insured Retentions Any deductibles or self-insured retentions must be declared to, and approved by CITY's Risk Manager. At the option of CITY, either; the insurer shall reduce or eliminate such deductibles or self-insured retentions as respects CITY, its officer, employees, agents and contractors; or GRANTEE shall procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses in an amount specified by the CITY's Risk Manager.

  • Insured Claims To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) to the extent such expenses or liabilities have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and directors’ liability insurance maintained by the Company; or

  • Final Retention Subject to the provisions of this Work Letter, a check for the Final Retention payable jointly to Tenant and Contractor, or directly to Contractor at Landlord’s sole discretion, shall be delivered by Landlord to Tenant within thirty (30) days following the completion of construction of the Improvements, provided that (i) Tenant delivers to Landlord (a) paid invoices for all Improvements and related costs for which the Improvement Allowance is to be dispersed, (b) signed permits for all Improvements completed within the Premises, (c) properly executed unconditional mechanics lien releases in compliance with both California Civil Code Section 8134 and either Section 8136 or Section 8138 from Tenant’s contractor, subcontractors and material suppliers and any other party which has lien rights in connection with the construction of the Improvements, (ii) Landlord has determined that no substandard work exists which adversely affects the mechanical, electrical, plumbing, heating, ventilating and air conditioning, life-safety or other systems of the Building, the curtain wall of the Building, the structure or exterior appearance of the Building, or any other tenant’s use of such other tenant’s leased premises in the Building, (iii) Architect delivers to Landlord a “Certificate of Substantial Completion”, in a form reasonably acceptable to Landlord, certifying that the construction of the Improvements in the Premises has been substantially completed, (iv) Tenant delivers to Landlord a “close-out package” in both paper and electronic forms (including, as-built drawings, and final record CADD files for the associated plans, warranties and guarantees from all contractors, subcontractors and material suppliers, and an independent air balance report); and (v) a certificate of occupancy, a temporary certificate of occupancy or its equivalent is issued to Tenant for the Premises.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.

  • 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.

  • Insured Benefits A transferring employee will be covered by the benefit plans at the designated Employer. There will be no break in coverage and/or no waiting period prior to being able to receive benefits so long as the waiting period has already been served, subject to the requirements of the carrier.

  • Insured Loss Subject to the provisions of paragraphs 9.4 and 9.5, if at any time during the term of this Lease there is damage which is an Insured Loss and which falls into the classification of either Premises Damage or Premises Building Partial Damage, then Lessor shall, as soon as reasonably possible and to the extent the required materials and labor are readily available through usual commercial channels, at Lessor's expense, repair such damage (but not Lessee's fixtures, equipment or tenant improvements originally paid for by Lessee) to its condition existing at the time of the damage, and this Lease shall continue in full force and effect.

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