Common use of Notice of Claim Reduction of Policy Limits Clause in Contracts

Notice of Claim Reduction of Policy Limits. The Consulting Engineer/Architect, upon receipt of notice of any claim in connection with the Contract, shall promptly notify the City, providing full details thereof, including an estimate of the amount of loss or liability. The Consulting Engineer/Architect shall promptly notify the City of any reduction in limits of protection afforded under any policy listed in the Certificate (or otherwise required by the Contract Documents) in excess of $10,000.00, whether or not such impairment came about as a result of this Agreement. In the event the City shall determine that the Consulting Engineer/Architect's aggregate limits of protection shall have been impaired or reduced to such extent that the City shall determine such limits inadequate for the balance of the project, the Consulting Engineer/Architect shall, upon notice from the City, promptly reinstate the original limits of liability required hereunder and shall furnish evidence thereof to the City.

Notice of Claim Reduction of Policy Limits. The Consulting Engineer/Architect, upon receipt of notice of any claim in connection with the ContractAgreement, shall promptly notify the City, providing full details thereof, including an estimate of the amount of loss or liability. The Consulting Engineer/Architect shall promptly notify the City of any reduction in limits of protection afforded under any policy listed in the Certificate (or otherwise required by the Contract Documents) in excess of $10,000.00, whether or not such impairment came about as a result of this Agreement. In the event the City shall determine that the Consulting Engineer/Architect's aggregate limits of protection shall have been impaired or reduced to such extent that the City shall determine such limits inadequate for the balance of the projectthis Agreement, the Consulting Engineer/Architect shall, upon notice from the City, promptly reinstate the original limits of liability required hereunder and shall furnish evidence thereof to the City.