Maintaining Insurance. If the Contractor or its Subcontractors, Sub-Subcontractors or Suppliers who install Products fail to place or maintain insurance as required under GC 11.1.1.2, the Owner shall have the right, but is not obligated, to place and maintain insurance as required. All premiums and other costs incurred by the Owner will be paid by the Contractor to the Owner on demand, or failing payment may be deducted by the Owner from any amount then or thereafter due to the Contractor.
Maintaining Insurance. The Architect must maintain the same or better insurance coverage throughout the Project and the applicable tail-out period. Unless otherwise agreed in writing, the tail-out period for insurance coverage may not be less than two years from the date of Substantial Completion of the Project.
Maintaining Insurance. If Borrower fails to maintain any of the coverages described above, Lender may at its option obtain insurance coverage, which shall become additional debt of Borrower secured by this Trust Deed. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts paid by Xxxxxx under this Section shall bear interest at the same rate as the Principal Amount in the Note.
Maintaining Insurance. (i) Manager shall place any and all insurance coverage contemplated in this Section III(G) with such companies, in such amounts, and with such beneficial interest appearing therein as shall be acceptable to Owner, in its sole discretion, and such insurance coverage shall otherwise be in conformity with the requirements of law or any contractual obligation of Owner with respect thereto. Any changes in such coverage shall require the approval of TIAA LLC, which approval shall not be unreasonably withheld. In any event, all such policies shall, at a minimum, name Owner as beneficiary and each shall provide that the policy shall not be canceled or amended unless thirty (30) days' prior written notice of such cancellation or amendment is given to Owner. Manager and its Affiliates (as defined in the Operating Agreement) maintain insurance coverage as set forth on Exhibit F for all of the Properties and the other properties owned or managed by Manager and its Affiliates.
(ii) Owner hereby authorizes Manager to maintain, at Owner's expense, subject to the Business Plan, throughout the term of this Agreement, comprehensive general liability insurance policy in such amounts and with such insurance carriers as Owner from time to time shall determine, insuring Owner and naming Manager as an additional insured. Manager shall pay the premiums and other charges with respect thereto on Owner's behalf out of the Bank Account as operating expenses of the Property. Manager, on its own behalf and at its own expense, shall also maintain, and provide to Owner evidence of maintaining, comprehensive general liability insurance in an amount not less than Two Million Dollars ($2,000,000.00) naming Owner, TIAA LLC and the LLC as additional insureds.
(iii) Owner shall maintain, or shall authorize Manager to maintain, at Owner's expense, such fire, extended coverage and other insurance on the Property in such amounts and with such insurance carriers as Owner shall from time to time determine. All insurance carriers covering the Property shall waive any right of subrogation against Manager for negligence in the performance of its services, under this Agreement with respect to any fire, extended coverage or other like insurance claim paid to Owner regarding the Property.
(iv) Manager shall, at Owner's expense, cause to be placed and kept in force all workers' compensation insurance, insurance against theft by Manager's employees. To the extent such insurance is required in the conduct o...
Maintaining Insurance. Each JV Entity shall obtain and maintain, all insurance coverage as may be required by any applicable law, rule or regulation and such other insurance coverage as is determined by the Executive Board from time to time in accordance with the agreed RI Strategy. All insurances shall be placed with reputable underwriters, reinsured if applicable, having a financial strength reasonably satisfactory in all respects to the satisfaction of the Executive Board. All policies of insurance maintained by each JV Entity, shall contain a clause stating that they are primary to, and non-contributing with, any other policies of the relevant Shareholders.
Maintaining Insurance. Upon failure of the Tour to obtain or maintain such insurance coverage for the term of the Agreement, the Village of Lake Orion may, at its option, purchase such coverage and subtract the cost of obtaining such coverage from the Agreement amount. In obtaining such coverage, the Village of Lake Orion shall have no obligation to procure the most cost-effective coverage but may contract with any insurer for such coverage.
13. WRITTEN NOTICES: Written notices regarding this Agreement shall be addressed to the following:
Maintaining Insurance. Owner and Manager (as the case may apply) shall at all times keep the Hotel insured with the kinds and amounts of insurance described in Article 8.03 below. Certificates of such coverage shall be provided by each party to the other prior to the Commencement Date. Owner shall be responsible for procuring and maintaining all required policies of property insurance (as more fully set forth below in Section 8.03(A)), and the premiums paid for such shall be treated as an Operating Expense to the extent such premiums are treated as Operating Expenses under the Uniform System. Manager shall be responsible for all required policies of insurance (as more fully set forth below in Section 8.03(B)), the premiums for which shall be not treated as an Operating Expense. All policies of insurance shall be written by qualified, solvent companies that can legally write insurance in the state in which the Hotel is located. To the extent applicable, each policy must name Owner and Manager as Named Insured or Additional Insured parties with minimum deductibles customary in the industry,. Deductibles paid toward claims covered by insurance procured by Manager shall be treated as Operating Expenses. Losses shall be payable to Owner. Any loss adjustment with respect to the insurance coverage maintained by Owner shall be made by Owner acting in its sole and absolute discretion.
Maintaining Insurance. For the duration of this Contract, Law Firms shall provide and maintain, at their own expense, professional liability insurance covering all negligent acts, errors and omissions as well as insurance against claims for injuries to person or damages to property which may arise from or in connection with the performance of the work under this Contract, including general liability coverage, automobile liability coverage, and worker’s compensation insurance. The Law Firms’ professional liability insurance is intended to indemnify, subject to certain terms, exclusions and limitations, the Law Firms in respect of any claim made by its clients by reason of alleged Law Firm act, error or omission, breach of contract for professional services, breach of duty, libel or slander in connection with the representation of its clients, and related causes of action in connection with its representation of its clients. The Law Firms and their respective partners are also bound by the applicable rules of professional conduct and other legal, regulatory, and professional obligations. Proof of the Law Firms’ insurance shall be provided upon request to the Attorney General.
Maintaining Insurance. Each Party shall maintain insurance as described in paragraphs A through E below. All insurance shall be procured from insurance companies rated “A-,” VII or better by AM Best and approved to do business in a state or states in which the Interconnection Point(s) is located. Failure to maintain required insurance shall be a Breach of this Agreement.
A. Workers’ Compensation insurance with statutory limits, as required by the state and/or jurisdiction in which the Interconnection Construction Point(s) is located is to be performed, and employer’s liability insurance with limits of not less than one million dollars ($1,000,000.00).
B. Commercial General Liability Insurance and/or Excess Liability Insurance covering liability arising out of premises, operations, personal injury, advertising, products and completed operations coverage, independent contractors coverage, liability assumed under an insured contract, coverage for pollution to the extent normally available and punitive damages to the extent allowable under applicable law, with limits of not less than one million dollars ($1,000,000) per occurrence/one million dollars ($1,000,000) general aggregate/one million dollars ($1,000,000) products and completed operations aggregate.
C. Business/Commercial Automobile Liability Insurance for coverage of owned, non- owned, and hired vehicles, trailers, or semi-trailers designed for travel on public roads, with a minimum, combined single limit of one million dollars ($1,000,000) for each accident for bodily injury, including death, and property damage.
D. Excess and/or Umbrella Liability Insurance with a limit of liability of not less than twenty million dollars ($20,000,000) per occurrence. This limit applies in excess of the employer’s liability, commercial general liability and business/commercial automobile liability coverages described above. This requirement can be met alone or via a combination of primary, excess and/or umbrella insurance.
E. Professional Liability Insurance providing errors, omissions and/or malpractice coverage in the amount of one million dollars ($1,000,000) per occurrence/aggregate. Coverage shall be provided for the Parties’ Representatives that are responsible for design work associated with the Interconnection. A Party may meet the Professional Liability Insurance requirements by requiring Contractors, designers, engineers, or other parties that are responsible for design work associated with the transmission facilities or Interco...
Maintaining Insurance. (i) Property Manager shall place any and all insurance coverage contemplated in this Section III(G) and the Business Plan with such companies, in such amounts, and with such beneficial interest appearing therein as shall be authorized by Owner, which such insurance coverage shall otherwise be in conformity with Legal Requirements (as hereinafter defined), Applicable Loans, Leases and other contractual obligations of Owner with respect thereto. Any modifications to the existing insurance program shall require Owner's consent.
