Inventory Insurance Sample Clauses

The Inventory Insurance clause requires that inventory owned or held by a party is covered by an insurance policy against risks such as loss, theft, or damage. Typically, this clause specifies the minimum coverage amounts, the types of risks to be insured against, and may require proof of insurance to be provided to the other party. Its core function is to protect both parties from financial loss due to unforeseen events affecting inventory, thereby allocating risk and ensuring business continuity.
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Inventory Insurance. All inventory of components and materials ------------------- purchased by Company to make the Products shall be owned by Company and shall be insured against risk of loss by Company. Any components and materials purchased by Aastrom and delivered to Company for Company to use to make the Products shall be covered by Company's insurance policy for risk of loss while said items remain in Company's facility.
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Inventory Insurance. To further secure the payment and performance in full of all of the Obligations and as additional Collateral hereunder, the Borrower shall cause the Bank to be named as loss-payee and additional insured on an inventory policy of insurance providing coverage in an amount to be approved by the Bank, such policy to be satisfactory in form and substance to the Bank and issued by an insurer acceptable to the Bank. The loss-payee and additional insured endorsement or rider shall be accepted by the home office of the insurance company; the assignment shall remain in full force and effect until all Obligations have been paid, satisfied and discharged; the Borrower shall at all times keep such policy in full force and effect, shall pay all premiums, dues and assessments thereon, and shall not cause the coverage under the policy to diminish below the amount set forth above; and provision shall be made to confirm that there can be no cancellation of the policy without 30 days' prior written notice to the Bank. A duplicate of the policy and the loss-payee endorsement or rider must be delivered to the Bank at the time of execution and delivery of the Loan Documents together proof of premium payment. Thereafter, the Borrower shall provide to the Bank proof of payment of future premiums upon the request of the Bank.
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Inventory Insurance. Transform Pack shall purchase insurance against loss for any inventory purchase by Transform Pack for work under this Agreement.
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Inventory Insurance. 4 2.6 Transit......................................................... 4 2.7 Financial Condition............................................. 4
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Related to Inventory Insurance

  • Boiler and Machinery Insurance The Owner shall have the option of purchasing and maintaining boiler and machinery insurance required by the Contract Documents or by law, which shall specifically cover such insured objects during installation and until final acceptance by the Owner. If purchased this insurance shall include interests of the Owner, Contractor, Subcontractors and Sub-subcontrators in the Work.

  • Primary Insurance Contractor's insurance coverage shall be primary insurance with respect to the Department, its officers, officials, employees, and volunteers and shall apply separately to each project or location. Any insurance or self-insurance maintained by the Department, its officers, officials, employees, or volunteers shall be excess of Contractor's insurance and shall not contribute with it.

  • ▇▇▇▇ ▇▇▇▇▇ Insurance (a) If an Employee is in receipt of an Incolink benefit and suffers a disability for a period of more than 14 days, they will have access to a benefit under a policy procured by Incolink to reimburse domestic bills which the worker receives and pays during their disablement. (b) This policy will reimburse up to $300 per bill up to a maximum of $6,000 for all bills for any one period of disablement. (c) The Employer will pay a contribution on behalf of each Employee of $1.50 per week per Employee in accordance with the relevant Incolink trust deed or other governing documents.

  • ADDITIONAL INSURED ENDORSEMENT AND PRIMARY AND NON-CONTRIBUTORY INSURANCE CLAUSE Supplier agrees to list Sourcewell and its Participating Entities, including their officers, agents, and employees, as an additional insured under the Supplier’s commercial general liability insurance policy with respect to liability arising out of activities, “operations,” or “work” performed by or on behalf of Supplier, and products and completed operations of Supplier. The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self-insurance in force for the additional insureds.

  • Umbrella Insurance During the term of this Contract, Supplier will maintain umbrella coverage over Employer’s Liability, Commercial General Liability, and Commercial Automobile. Minimum Limits: $2,000,000