Owner Insurance. The Lessee must not do, or allow anything to be done that may cause the Property's insurance against loss or damage by fire to become void or cause insurance premiums to be raised.
Owner Insurance. The Management Committee shall determine the type limits, deductibles and other terms applicable to the insurance coverages to be maintained by the Company, and the Company shall engage an insurance broker to provide recommendations and to procure such insurance coverages on behalf of the Company.
Owner Insurance. During the Term, Owner shall obtain and maintain, with insurers of recognized responsibility authorized to do business in the state where the Site is located and assigned an A.M. Best rating of no less than A-/X, All Risk Property Damage/Machinery Breakdown Insurance, in an amount sufficient to cover one hundred percent (100%) of the replacement cost of the Project. This policy shall provide an express waiver of subrogation in favor of O&M Contractor, Subcontractors, Seller and the insurers of all of them. Coverage shall be written on an “All Risk” basis including flood and earthquake coverage, including mechanical and electrical breakdown insurance covering resulting damage with respect to consequence of design, workmanship or material defect (LEG 2/96 or better), the perils of flood, earthquake, named windstorm, strike, sabotage, riot and civil commotion, vandalism and malicious mischief, subject to terms that are consistent with current industry practice insuring all real and personal property of O&M Contractor whether at a fixed (including non-owned location for off-site repair or refurbishment), off- site storage or a warehouse location or while in the course of inland or ocean transit (as the case may be), for an amount of not less than the full replacement cost value of the property and equipment at each location without the presence of coinsurance. The policy shall contain a Notice of Cancellation provision of no less than sixty (60) days and business interruption coverage following all perils. Sub-limits are permitted with respect to the following perils:
(a) debris removal, 5% of the limit;
(b) inland transit in such amounts to satisfy replacement cost values of the shipment;
(c) offsite storage in such amounts to satisfy replacement cost values of the largest property storage area;
(d) CAT perils including Wind, Named Windstorm, Flood and Earthquake;
(e) such other coverages acceptable to O&M Contractor (in consultation with the insurance consultant) that are customarily sub-limited and/or aggregated in reasonable amounts consistent with current industry practice with respect to similar risks and acceptable to O&M Contractor, including extra expense, expediting expense and ordinance or law coverage including the increased cost of construction to comply with the enforcement of any law that regulates the construction or repair of damaged property including the cost to demolish undamaged portions of the Project. Such policy shall include (A) an aut...
Owner Insurance. Each of the Owners shall be responsible for obtaining and maintaining during the Term insurance covering their respective legal liabilities related to their Ownership Interest in the Transmission Facilities. Insurance required by this Section 5.07(a) will be placed with appropriate carriers and in amounts in accordance with Good Utility Practice and any applicable Governmental Requirements.
Owner Insurance. The Manager shall maintain, on behalf of the Owners, all Insurance Policies required to be maintained by the Owners pursuant to the Loan Documents and such other Insurance Policies as the Manager shall determine to be necessary or appropriate in accordance with the Operation Standards. The Manager shall prepare and present, on behalf of the Owners, claims under any such insurance policy in a timely fashion in accordance with the terms of such policy. Any payments on such policy shall be made to the Manager as agent of and for the account of the Owners (and for the benefit of the Lender to the extent provided in the Loan Documents), except as otherwise required by the Loan Documents. All such payments shall be applied in accordance with the Loan Documents or, if the Loan Documents do not specify an application, shall be deposited into the Operating Account. The Manager shall provide to the Lender on behalf of the Owners such evidence of insurance and payments of the premiums thereof required by Section 5.4 of the Loan Agreement.
Owner Insurance. Owner shall procure and maintain all insurance pursuant to this Section 6.2 covering Development Manager, the General Contractor and all other contractors and professionals and Owner.
(a) All such policies shall be issued by insurance companies qualified to transact insurance in the state or commonwealth in which the Project is located and with a minimum financial rating of A- Class IX by A.M. Best.
(b) Insurance provided under Section 6.2(c):
(i) Shall be endorsed to state that the right of cancellation or material change in coverage by the insurance carrier is waived, unless thirty (30) days’ written notice is furnished by registered mail to Development Manager.
(c) Within thirty (30) days following the Effective Date and for so long as the Improvements are under construction pursuant to the Project Construction Contract, Owner shall obtain and maintain “Builders Risk” Property Insurance on an “all risk” peril form ( including all usual and customary coverage for a Project of this nature) for an amount equal to the completed replacement value of the Improvements. Such insurance shall include the interests of Owner, Development Manager, the General Contractor and subcontractors in the work, as their interests may appear. A certificate of insurance evidencing the foregoing shall be provided to Development Manager upon request.
Owner Insurance. Owner shall obtain and maintain the insurance coverages as described in the applicable portion of Appendix Q (“Owner Insurance”).
Owner Insurance. The Manager shall maintain (or cause to be maintained at its own expense), on behalf of the Owners, all Insurance Policies required to be maintained by the Owners pursuant to the Loan Documents and such other Insurance Policies as the Manager shall determine to be necessary or appropriate in accordance with the Operation Standards (if any). The Manager shall prepare and present, on behalf of the Owners, claims under any such insurance policy in a timely fashion in accordance with the terms of such policy. Any payments on such policy shall be made to the Manager as agent of and for the account of the Owners (and shall be held in trust for the benefit of the Lender to the extent provided in the Loan Documents), except as otherwise required by the Loan Documents. All such payments shall be applied in accordance with the Loan Documents or, if the Loan Documents do not specify an application, shall be deposited into the Operating Account. The Manager shall provide to the Lender on behalf of the Owners such evidence of insurance and payments of the premiums thereof required by Section 5.4 of the Loan Agreement.
Owner Insurance. Owner shall secure, at its sole --------------- expense, prior to the Commencement Date and maintain in effect during the term hereof the following insurance subject to the availability of same at reasonably commercial terms:
(i) Comprehensive General Liability insurance with minimum limits of $10,000,000 per occurrence including premises/operations, explosion, collapse and underground hazards, broad form contractual, products/completed operations and personal injury.
(ii) Comprehensive Automobile Liability Insurance for all owned, non-owned and hired vehicles in a minimum amount of $1,000,000 per occurrence.
(iii) Broad form all risk property insurance on a replacement cost basis, with limits acceptable to Secured Party. Operator will explore with its insurers whether it is possible to include Owner's insurance obligations set forth in this Section with Operator's insurance coverage and to include such insurance expenses as Reimbursable Costs.
Owner Insurance. Owner shall maintain commercial general liability insurance covering the Property in an amount of not less than Two Million Dollars ($2,000,000), commercial property insurance covering the Property and an umbrella insurance policy with the coverage set forth in Subsection 6.1(e) above. Owner shall also carry “all risks” or “special causes of loss” property insurance on its personal property, including but not limited to the DAS, in an amount sufficient to repair or replace such property.
