Owner’s Insurance Coverage Sample Clauses

Owner’s Insurance Coverage. Owner shall maintain all-risk form of property damage insurance including without limitation coverage against allied perils, vandalism, malicious mischief, sprinkler leakage and plate glass, in the amount of full replacement cost without coinsurance and containing such additional coverages, if any, as are customarily obtained in connection with the ownership and management of property similar to the Premises but in no event in an amount or containing coverages less than or of lesser quality or extent than that required by the terms of any mortgage or trust deed encumbering the Premises. In addition, Owner agrees to carry commercial general liability insurance on an occurrence form with a minimum limit of at least $1,000,000 per occurrence, $2,000,000 per location aggregate and at least $5,000,000 umbrella coverage, including contractual liability, elevator liability, steamboiler and such other insurance as may be necessary or appropriate for the protection of the interests of Owner and Co-Manager. The public liability, elevator liability, and contractual liability insurance must contain a severability of interest clause and coverage for Personal Injury Insurance. Each of Owner’s insurance policies shall be written with an insurance company or companies licensed to do business in the state where the Premises is located and who have a minimum Best Key rating of no less than A-VIII. Owner agrees to designate Co-Manager as an additional insured with Owner on the Commercial General and Umbrella Liability policies. This insurance shall be primary for Owner and Co-Manager with respect to the Premises. A certificate of each policy issued by the carrier shall be delivered by Owner to Co-Manager concurrently with Owner’s execution and delivery of this Agreement. Owner shall use commercially reasonable efforts to have each policy provide that it will not be canceled or materially modified without at least ten (10) days prior written notice from the insurer to Owner in the event of cancellation for non-payment, and at least thirty (30) days prior written notice from the insurer to Owner in any other event. Each policy for fire or extended coverage insurance and all other forms of property damage insurance covering the Premises or personal property, fixtures or equipment located thereon shall contain an appropriate clause or endorsement whereby the insurer waives subrogation or consents to a waiver of the right of recovery against Co-Manager, and Owner hereby agrees th...
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Owner’s Insurance Coverage. Manager shall cause to be procured and maintained, to the extent requested by Owner, insurance coverage with regard to the Property. Manager shall promptly investigate and make a full written report as to all accidents or claims for damage relating to the ownership, operating and maintenance of the Property, including any damage or destruction to the Property and the estimated cost of repair, and shall cooperate and make any and all reports required by any insurance company in connection therewith. All general public liability and other liability policies carried by or for Owner shall name Owner and Manager as co-insureds.
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Owner’s Insurance Coverage. The Manager will obtain at Owner's sole cost and expense the following coverage for the Owner with respect to the Properties. Owner retains the right to procure all such insurance for itself should it see fit rather than having the Manager procure such insurance on behalf of Owner.
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Owner’s Insurance Coverage. The Owner shall obtain whatever information, from whatever sources it deems appropriate, and shall render decisions pertaining to necessary insurance coverages. If necessary, Owner will obtain any insurance counseling services as may be necessary for the Program.
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Owner’s Insurance Coverage. (a) To the extent Owner has an insurable interest in the Property and such insurance is applicable to the Property, Owner shall obtain and maintain, at its expense, during the term hereof a policy or policies of insurance insuring the Property, against: (i) loss or damage due to casualty falling within standard “all‑risk” property coverage for full replacement cost; (ii) soft cost coverage, including business income and extra expense; (iii) commercial general liability insurance with limits of not less than $1,000,000 per occurrence and $2,000,000 aggregate combined single limit, including bodily injury and property damage, products and completed operations and contractual liability coverage to insure the indemnity obligations of this Agreement; (iv) boiler, machinery and miscellaneous apparatus insurance when exposure exists; and (v) umbrella liability insurance of not less than $5,000,000 per occurrence. Except as specifically required herein, the types and amounts of insurance limits shall be acceptable to both Owner and Development Manager. Any deductible required under such insurance policies shall be at Owner’s expense.
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Related to Owner’s Insurance Coverage

  • Insurance Coverages The Contractor shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City:

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Owner’s Insurance Owner will be responsible for purchasing and maintaining Owner’s liability insurance and other reasonably appropriate insurance.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

  • Indemnity Insurance a. The Service Provider agrees to indemnify and save harmless the City, its officers, agents and employees against and from any and all actions, suits, claims, demands or liability of any character whatsoever brought or asserted for injuries to or death of any person or persons, or damages to property arising out of, result from or occurring in connection with the performance of any service hereunder.

  • Manager's Insurance Manager shall, on its own behalf and at its sole ------------------- cost and expense, procure and maintain in force during the term of this Agreement policies in the following categories in the amount indicated:

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

  • No Defense to Insurance Coverage No action has been taken or failed to be taken, no event has occurred and no state of facts exists or has existed on or prior to the Purchase Date (whether or not known to Seller on or prior to such date) which has resulted or will result in an exclusion from, denial of, or defense to coverage under any private mortgage insurance (including, without limitation, any exclusions, denials or defenses which would limit or reduce the availability of the timely payment of the full amount of the loss otherwise due thereunder to the insured) whether arising out of actions, representations, errors, omissions, negligence, or fraud of Seller, the related Mortgagor or any party involved in the application for such coverage, including the appraisal, plans and specifications and other exhibits or documents submitted therewith to the insurer under such insurance policy, or for any other reason under such coverage, but not including the failure of such insurer to pay by reason of such insurer’s breach of such insurance policy or such insurer’s financial inability to pay.

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