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 for all purposes be deemed 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 such claim is caused solely by 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.
Appears in 2 contracts
Samples: Property Management Agreement (Bluerock Enhanced Multifamily Trust, Inc.), Property Management Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
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 for all purposes be deemed the primary and non-contributory 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 such claim is caused solely by 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.
Appears in 2 contracts
Samples: Limited Liability Company/Joint Venture Agreement (Bluerock Residential Growth REIT, Inc.), Property Management Agreement (Bluerock Residential Growth REIT, Inc.)
