OCIP Coverage Amounts Clause Samples

OCIP Coverage Amounts. The OCIP coverages will be set forth in full in the respective policy forms, the following description of such coverage is not intended to be all-inclusive, nor alter or amend any provision of the actual policies. In matters, if any, in which the said description may be conflicting with the actual policy language, the provisions of the insurance policies shall govern. Subject to the exclusions, limitations, terms and conditions of the policies, OCIP coverage shall be as follows:
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OCIP Coverage Amounts. The OCIP coverages will be set forth in full in the respective policy forms, the following description of such coverage is not intended to be all- inclusive, nor alter or amend any provision of the actual policies. In matters, if any, in which the said description may be conflicting with the actual policy language, the provisions of the insurance policies shall govern. Subject to the exclusions, limitations, terms and conditions of the policies, OCIP coverage shall be as follows: $4,000,000 general aggregate limit and $4,000,000 products/completed operations aggregate limit. A separate single limit shall apply to the entire five (5) year term beyond the expiration or cancellation of the date of the policy for the “completed operations extension” for all insureds combined as follows: $2,000,000 each occurrence limit and $4,000,000 products-completed operations aggregate limit. Coverage shall apply to bodily injury and property damage for operations (including explosion, collapse and underground coverage), elevators, independent contractors, contractual liability for “insured contracts” and covered personal and advertising injury liability offenses. The OCIP policy includes the following terms: - Products completed operations extension for ten (10) years or the applicable statute of repose, whichever is less, after ▇▇▇▇ Ex Final Completion. - General aggregate limit reinstates annually. - Products/completed operations aggregate limit applies once to entire completed operations term. - Limits are shared among all enrolled parties.
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Related to OCIP Coverage Amounts

  • Continuing Coverage If a letter of assurance is obtained from any insurer under a Hazard Insurance policy or a Flood Insurance policy that the insurance coverage shall continue in full force and effect, the Servicer shall deposit such letter in the appropriate Servicer Mortgage Loan File.

  • Interest Coverage The Company will not permit the ratio of Consolidated Adjusted EBITDA to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.50 to 1.00 at any time.

  • Basic Coverage Contractor shall provide and maintain at the JBE’s discretion and Contractor’s expense the following insurance during the Term:

  • Exclusions from Coverage The Long-Term Disability Plan does not cover total disabilities resulting from: A) war, insurrection, rebellion, or service in the armed forces of any country; B) voluntary participation in a riot or civil commotion, except while an employee is in the course of performing the duties of her regular occupation; C) intentionally self-inflicted injuries or illness.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.