O&M SECURITY; INSURANCE Sample Clauses

O&M SECURITY; INSURANCE. 7.1 O&M Security Maintenance Contractor (or the Lead Maintenance Firm on behalf of Maintenance Contractor) shall provide to TxDOT, and shall maintain at all times during the Maintenance Term, adequate security securing Maintenance Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 7.2 and 7.3 or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 7.4 (the “O&M Security”). The Maintenance Contractor may cause the Lead Maintenance Firm to provide the O&M Security on Maintenance Contractor’s behalf so long as such O&M Security complies with all requirements of this Section 7. If Maintenance Contractor
Sample 1
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O&M SECURITY; INSURANCE. 7.1 O&M Security DB Contractor (or the Lead Maintenance Firm on behalf of DB Contractor) shall provide to TxDOT, and shall maintain at all times during the Maintenance Period, including during the Initial Maintenance Term and all subsequent Maintenance Terms for which a Maintenance NTP has been issued, adequate security securing DB Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 7.2 and 7.3 or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 7.4 (the “O&M Security”). The DB Contractor may cause the Lead Maintenance Firm to provide the O&M Security on DB Contractor’s behalf so long as such O&M Security complies with all requirements of this Section 7. If DB Contractor (i) elects to provide a Letter of Credit as O&M Security and the initial Letter of Credit provided at Substantial Completion is less than the Maximum P&P LC Amount or (ii) is a limited liability entity and elects to provide the Maintenance Performance Bond and Maintenance Payment Bond as O&M Security, DB Contractor shall also provide a Guaranty satisfying the requirements of Section 7.6 on or before the date on which such O&M Security is provided to TxDOT.
Sample 1
O&M SECURITY; INSURANCE. 7.1 O&M Security Maintenance Contractor shall provide to TxDOT, and shall maintain at all times during the Maintenance Term, adequate security (the “O&M Security”) securing Maintenance Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 7.2 and 7.3 or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 7.4. If Maintenance Contractor elects to provide the Maintenance Performance Bond and Maintenance Payment Bond as O&M Security, Maintenance Contractor shall also provide a Guaranty satisfying the requirements of Section 7.6 on or before the date on which the Maintenance Performance Bond and Maintenance Payment Bond are provided to TxDOT.
Sample 1

Related to O&M SECURITY; INSURANCE

  • General liability insurance endorsement The following are required:

  • Commercial General Liability Insurance Policy Provide a Commercial General Liability Insurance Policy, including contractual liability, in adequate quantity to protect against legal liability arising out of contract activity but no less than $1,000,000 per occurrence. Additionally, the CONTRACTOR is responsible for ensuring that any subcontractors provide adequate insurance coverage for the activities arising out of subcontracts.

  • General Liability Insurance The Contractor must secure and maintain Commercial General Liability Insurance, including bodily injury, property damage, products, personal and advertising injury, and completed operations. This insurance must provide coverage for all claims that may arise from performance of the Contract or completed operations, whether by the Contractor or anyone directly or indirectly employed by the Contractor. Such insurance must include the State of Florida as an additional insured for the entire length of the resulting contract. The Contractor is responsible for determining the minimum limits of liability necessary to provide reasonable financial protections to the Contractor and the State of Florida under the resulting contract.

  • Comprehensive General Liability Insurance The Lessee shall procure and maintain a valid Comprehensive General Liability Insurance indemnifying the Lessor with minimum coverage of $ for personal injury and $ for damage to property.

  • OWNER’S LIABILITY INSURANCE The Owner shall be responsible for purchasing and maintaining the Owner’s usual liability insurance.

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