Owner's Liability Insurance shall be Primary. In connection with claims by third parties, as between Owner's Liability Insurance and Manager's Liability Insurance, Owner's Liability Insurance shall be considered the primary coverage. No claim shall be made by Owner or its insurance company under or with respect to any insurance maintained by Manager except in the event that Owner's Liability Insurance is exhausted or in the event such claim is caused solely by the gross negligence (except actions or policies specifically approved or required by Owner) or willful misconduct (except actions or policies specifically approved or required by Owner) on the part of Manager or Manager's employees. RREM shall cause Owner to have its insurance carrier accept and endorse these coverage requirements.
Appears in 14 contracts
Samples: Management Agreement (Resource Real Estate Investors 7, L.P.), Management Agreement (Resource Real Estate Investors 7, L.P.), Management Agreement (Resource Real Estate Investors 7, L.P.)
