Policy Terms. Any policies carried and maintained in accordance with this Section 13.02 and any policies taken out in substitution or replacement for any such policies subject to the terms, conditions and limitations thereof shall:
(i) name or be amended to name the Lessor in its individual capacity and as owner of the Aircraft (or, so long as the Indenture shall not have been discharged, the Indenture Trustee) as an additional insured and as the sole loss payee (hereinafter in this paragraph (b) sometimes referred to as "Loss Payee");
(ii) provide with respect to coverage provided under this Section 13.02, that (i) in the event of a loss involving proceeds in the aggregate in excess of $6,000,000, the proceeds in respect of such loss up to an amount equal to the Stipulated Loss Value for the Aircraft shall be payable to the Lessor (or, so long as the Indenture shall not have been discharged, the Indenture Trustee), it being understood and agreed that in the case of any payment to the Lessor (or the Indenture Trustee) otherwise than in respect of an Event of Loss, the Lessor (or the Indenture Trustee) shall, unless a Payment Default, a Bankruptcy Default or an Event of Default shall have occurred and be continuing, upon receipt of evidence satisfactory to it that the damage giving rise to such payment shall have been repaired or that such payment shall then be required to pay for repairs then being made, pay the amount of such payment to the Lessee or its order, and (ii) the entire amount of any loss involving proceeds in the aggregate of $6,000,000 or less or the amount of any proceeds of any loss in excess of the Stipulated Loss Value for the Aircraft shall be paid to the Lessee or its order unless a Payment Default, a Bankruptcy Default or an Event of Default shall have occurred and be continuing and the insurers have been notified thereof by the Lessor or the Indenture Trustee (and if the insurers have notice of a Payment Default, a Bankruptcy Default or an Event of Default, such payment shall be made to the Indenture Trustee);
(iii) provide that if such insurance is cancelled for any reason or any substantial change is made in the policies which adversely affect the scope of the coverage required herein, or if such insurance is allowed to lapse for nonpayment of premium, such cancellation, change or lapse shall not be effective as to the Loss Payee for thirty days (except in the case of war-risk coverage in which event the applicable period shall be seven (7) days ...
Policy Terms. (a) All insurance required by this Article III shall be in the form (other than with respect to Sections 3.01(a)(vi) and (vii) above when insurance in those two sub-sections is placed with a governmental agency or instrumentality on such agency’s forms) and amount and with deductibles as, from time to time, shall be reasonably acceptable to Lender, under valid and enforceable policies issued by financially responsible insurers authorized to do business in the State where the Property is located, which shall have a claims paying ability rating and/or financial strength rating, as applicable, of not less than “A-” (or its equivalent), or such lower claims paying ability rating and/or financial strength rating, as applicable, as Lender shall, in its reasonable discretion (taking into account then current Rating Agency guidelines), consent to, from a Rating Agency (one of which after a Securitization in which Standard & Poor’s rates any securities issued in connection with such Securitization, shall be Standard & Poor’s). Originals or certified copies of all insurance policies shall be delivered to and held by Lender. All such policies (except policies for worker’s compensation) shall name Lender, its successors and/or assigns as an additional named insured, with respect to the insurance required pursuant to Section 3.01(a)(iii) above, shall provide for loss payable to Lender, its successors and/or assigns and shall contain (or have attached): (i) standard “non-contributory mortgagee” endorsement or its equivalent relating, inter alia, to recovery by Lender notwithstanding the negligent or willful acts or omissions of Borrower; (ii) a waiver of subrogation endorsement as to Lender; (iii) an endorsement indicating that neither Lender nor Borrower shall be or be deemed to be a co-insurer with respect to any casualty risk insured by such policies and shall provide for a deductible per loss of an amount not more than the lesser of (x) that which is customarily maintained by owners of similar properties similarly situated and (y) $250,000 or, with respect to the deductible under any insurance against losses resulting from windstorms, 5% of the values at risk or, with respect to the deductible under any insurance against losses resulting from earthquake, 5% of the values at risk, and (iv) a provision that such policies shall not be canceled, terminated, denied renewal or amended, including, without limitation, any amendment reducing the scope or limits of coverage, ...
Policy Terms. Any policy of insurance carried and maintained in accordance with this Section 13.01, and any policy taken out in substitution or replacement for any such policy subject to the terms, conditions and limitations thereof, shall:
(i) name or be amended to name the Lessor in its individual capacity and as owner of the Aircraft, the Indenture Trustee in its individual capacity and as trustee/mortgagee of the Aircraft, each Liquidity Provider and the Owner Participant and each of their respective officers and directors in their respective capacities as such as additional insureds (hereinafter in this paragraph (c) sometimes referred to as "Additional Insured");
(ii) provide that, in respect of the interest of any Additional Insured in such policies, the insurance shall not be invalidated by any action or inaction of the Lessee or any Additional Insured as defined under the policy of insurance required under this Section 13.01 (other than any action or inaction of such Additional Insured) and shall insure each Additional Insured regardless of any breach or violation of any warranty, declaration or condition contained in such policies by the Lessee or any other Additional Insured (other than any breach or violation of any warranty, declaration or condition by such Additional Insured) as defined under the policy of insurance required under this Section 13.01;
(iii) provide that if such insurance is cancelled for any reason, or any substantial change is made in the policies which adversely affect the scope of the coverage required herein, or if such insurance is allowed to lapse for nonpayment of premium, such cancellation, change or lapse shall not be effective as to any Additional Insured for thirty (30) days (except in the case of war risk coverage in which event the applicable period shall be seven (7) days or such other period as may be customary) after receipt by each such Additional Insured of written notice from such insurers or such insurers' broker of such cancellation, change or lapse;
(iv) provide that the insurers shall waive any rights of subrogation against each Additional Insured, to the extent that the Lessee has waived its rights under this Lease and the Participation Agreement; provided that the exercise by insurers of rights of subrogation derived from rights retained by the Lessee shall not, in any way, delay payment of any claim that would otherwise be payable by such insurers but for the existence of rights of subrogation derived from rights r...
Policy Terms. Concurrently with execution of this Agreement, CONSULTANT shall provide CITY with Certificates of Insurance evidencing that CONSULTANT has obtained or maintains the insurance required by this Section
Policy Terms. Such insurance shall name Customer as an additional insured. A blanket endorsement or an additional insured endorsement evidencing the policy shall be provided to Customer upon execution. Julota shall provide Customer with written notice of any policy cancellation within thirty (30) days of the receipt of such notice. Julota shall obtain replacement insurance policies meeting the requirements of this Section 17.
Policy Terms. 11 Section 2.3 Assignment of Proceeds.....................................................................12 Section 2.4 Comply with Insurance Requirements.........................................................13
Policy Terms. All insurance policies shall meet the following requirements:
(i) overall blanket or excess coverage policies may be supplied; provided, however, that all insurance shall be in amounts sufficient to prevent any insured from being a co-insurer and that the amount of the casualty insurance coverage attributable to the Collateral is clearly set forth; and
(ii) all policies shall: (A) name Secured Party “and its successors and assigns as their interests may appear” as “additional insured” and “loss payee” on all casualty insurance and as “additional insured” as to all other insurance; (B) contain an endorsement stating that, as to the interest of Secured Party, such policy “shall not be impaired, invalidated or affected by any statement, act or neglect of any insured, loss payee or other Person, or by any failure to make any report to the insurer, or by the institution of any proceeding to execute upon any lien”; and (C) contain a provision stating that such policy “shall not be canceled or modified except after thirty (30) days prior written notice delivered to Secured Party at its address for notices herein or as subsequently directed in writing by Secured Party”; and
(iii) all policies shall be in a form acceptable to Secured Party and shall be issued by financially sound insurers duly licensed and authorized to conduct that type of insurance business in each state where the Collateral is located; and
(iv) evidence on XXXXX Form 27 (with respect to casualty coverage) and XXXXX Form 25 (with respect to other coverages) of the existence of all policies of insurance and endorsements thereof shall be delivered to Secured Party prior to the date hereof. At least thirty (30) days prior to the expiration of any such policies, the Grantor shall furnish paid receipts and other evidence satisfactory to Secured Party that all such policies have been renewed or replaced; and
(v) all policies shall provide that the insurance proceeds and awards may be adjusted only after obtaining the prior written consent of Secured Party and shall be paid directly to Secured Party to the extent required in Section 4.8(d).
Policy Terms. 58 Section 3.03.
Policy Terms. The Participant may designate any person or entity, including the Participant, as the owner of the Policy. If the Participant designates any person (other than the Participant) or any entity as owner of the Policy, (i) the Bonus payments, if any, made under this Agreement shall be made on behalf of the Participant in accordance with Section 3.1, (ii) any Tax Bonus payments shall be made directly to the Participant in accordance with Section 3.2, and (iii) no Employer shall owe any obligation to such person or entity.
Policy Terms. Any policy of insurance carried and maintained in accordance with this Section 13.01, and any policy taken out in substitution or replacement for any such policy subject to the terms, conditions and limitations thereof, shall:
