Procured Insurance Sample Clauses

The 'Procured Insurance' clause requires one party to obtain and maintain specific insurance coverage as stipulated in the agreement. Typically, this clause outlines the types and minimum amounts of insurance required, such as general liability or property insurance, and may require the insured party to provide proof of coverage to the other party. Its core function is to allocate risk and ensure that adequate financial protection is in place in case of loss, damage, or liability arising from the contractual relationship.
Procured Insurance. All insurance coverage must be provided by an insurance company or companies licensed or approved to do business in the State of Maine by the Maine Bureau of Insurance. Consultant and Sub-consultant(s) shall pay all premiums and take all other actions necessary to keep required insurances in effect during such times as Contract obligations exist. Certificates of Insurance shall be provided to the Authority upon execution of a Contract or stand-alone Contract and on an annual basis thereafter. A Consultant may request a waiver for insurances that may not be applicable for the work to be performed; these requests shall be submitted to the Authority.
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Procured Insurance. All insurance coverage must be provided by an insurance company or companies licensed or approved to do business in the State of Maine by the Maine Bureau of Insurance. Consultants and Sub-consultant(s) shall pay all premiums and take all other actions necessary to keep required insurances in effect during such times as GCA and/or Project Contract obligations exist. Certificates of Insurance shall be provided to the CPO upon execution of a GCA or stand-alone Project Contract and on an annual basis thereafter. A Consultant may request a waiver for insurances that may not be applicable for the work to be performed; these requests shall be submitted to the CPO using MaineDOT’s Request for Insurance Waiver Form. MaineDOT shall be listed as an additional insured on Commercial General Liability insurance policies carried by both the Consultant and Sub-Consultant(s) that are applicable to the Project. Nothing in these General Conditions constitutes a waiver of any defense, immunity or limitation of liability that may be available to MaineDOT, or its officers, agents or employees, under the Maine Tort Claims Act (Title 14 M.R.S.A. 8101 et. seq.), and shall not constitute a waiver of other privileges or immunities that may be available to MaineDOT.
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Procured Insurance. All insurance coverage must be provided by an insurance company or companies licensed or approved to do business in the State of Maine by the Maine Bureau of Insurance. Consultants and Sub-consultant(s) shall pay all premiums and take all other actions necessary to keep required insurances in effect during such times as Agreement obligations exist. All policies should contain a revised cancellation clause allowing thirty (30) days’ notice to MaineDOT in the event of cancellation for any reason, including nonpayment. The requirement that the Consultant procure and maintain insurance is a material term of this Agreement, the breach of which constitutes a default under the Agreement. A Consultant may request a waiver for insurances that may not be applicable for the work to be performed; these requests shall be submitted to the CPO using MaineDOT’s Request for Insurance Waiver Form. MaineDOT shall be listed as an additional insured on Commercial General Liability insurance policies carried by both the Consultant and Sub-Consultant(s) that are applicable to the Project. Nothing in these General Conditions constitutes a waiver of any defense, immunity or limitation of liability that may be available to MaineDOT, or its officers, agents or employees, under the Maine Tort Claims Act (Title 14 M.R.S.A. 8101 et. seq.) or a waiver of any other privileges or immunities that may be available to MaineDOT. MaineDOT will not grant the Consultant, or any of their subconsultants, “Additional Insured” status and MaineDOT will not grant any Provider a “Waiver of Subrogation”.
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Procured Insurance. All insurance coverage must be provided by an insurance company or companies licensed or approved to do business in the State of Maine by the Maine Bureau of Insurance. Consultant and Sub-consultant(s) shall pay all premiums and take all other actions necessary to keep required insurances in effect during such times as the ▇▇▇▇ and/or Airport Project Contract obligations exist. Certificates of Insurance shall be provided to the Sponsor upon execution of an ▇▇▇▇ or Stand-Alone Airport Project Contract and on an annual basis thereafter. A Consultant may request a waiver for insurances that may not be applicable for the work to be performed; these requests shall be submitted to the Sponsor’s Request for Insurance Waiver Form.
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Procured Insurance. All insurance coverage must be provided by an insurance company or companies licensed or approved to do business in the State of Maine by the Maine Bureau of Insurance. Consultant and Sub-consultant(s) shall pay all premiums and take all other actions necessary to keep required insurances in effect during such times as Contract obligations exist. Certificates of Insurance shall be provided to the Authority upon execution of a Contract or stand-alone Contract and on an annual basis thereafter. The maximum deductible for any type of insurance required shall not exceed $10,000.00. . However, the Authority may increase the maximum deductible, at the request of the Consultant, A Consultant may request a waiver for insurances that may not be applicable for the work to be performed; these requests shall be submitted to the Authority.
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Related to Procured Insurance

  • ▇▇▇▇ ▇▇▇▇▇ Insurance (a) If an Employee is in receipt of an Incolink benefit and suffers a disability for a period of more than 14 days, they will have access to a benefit under a policy procured by Incolink to reimburse domestic bills which the worker receives and pays during their disablement. (b) This policy will reimburse up to $300 per bill up to a maximum of $6,000 for all bills for any one period of disablement. (c) The Employer will pay a contribution on behalf of each Employee of $1.50 per week per Employee in accordance with the relevant Incolink trust deed or other governing documents.

  • Hazard Insurance All buildings or other customarily insured improvements upon the Mortgaged Property are insured by an insurer acceptable under the F▇▇▇▇▇ Mae Guides, against loss by fire, hazards of extended coverage and such other hazards as are provided for in the F▇▇▇▇▇ M▇▇ Guides or by the F▇▇▇▇▇▇ Mac Guides, in an amount representing coverage not less than the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loans and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If the Mortgaged Property is a condominium unit, it is included under the coverage afforded by a blanket policy for the project. If required by the FDPA, the Mortgage Loan is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and conforming to F▇▇▇▇▇ M▇▇ and F▇▇▇▇▇▇ Mac requirements, in an amount not less than the amount required by the FDPA. Such policy was issued by an insurer acceptable under the F▇▇▇▇▇ Mae Guides or the F▇▇▇▇▇▇ Mac Guides. The Mortgage obligates the Mortgagor thereunder to maintain all such insurance at the Mortgagor's cost and expense, and upon the Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain such insurance at the Mortgagor's cost and expense and to seek reimbursement therefor from the Mortgagor. All such standard hazard and flood policies are in full force and effect and on the date of origination contained a standard mortgagee clause naming the Seller and its successors in interest and assigns as loss payee; such clause is still in effect and all premiums due on any such policies have been paid in full. No originator, seller, prior owner of the Mortgage Loan, borrower or any other Person, has engaged in any act or omission that would impair the coverage of any such insurance policy, the benefits of the endorsement provided for therein, or the validity and binding effect of either, including, without limitation, the provision or receipt of any unlawful fee, commission, kickback, or other compensation or value of any kind. No action, inaction, or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any such insurance policies, regardless of the cause of such failure of coverage.

  • Required Insurance Contractor, at its expense, shall maintain in full force and effect the insurance coverages set forth in Exhibit C – Insurance Requirements. All costs for insurance, including any payments of deductible amounts, shall be considered incidental to and included in the prices for Services and no additional payment shall be made to Contractor.