Procurement of Insurance by Contractor Sample Clauses

Procurement of Insurance by Contractor. Subject to Paragraph 5.C.2., payment by NSS to Contractor of the amount due for insurance specified in item 4 in Paragraph 4.A. of this Contract shall be in the form of reimbursements of payments that Contractor makes under the Insurance Agreement with respect to the insurance of the Spacecraft. The Insurance Agreement shall contain a payment schedule that is comparable to payment schedules set forth in similar agreements made by the selected insurance underwriters, and in any event, such payment schedule shall be no less favorable to Contractor than any other insurance agreements that Contractor may have with the selected insurance underwriters as of EDC. Contractor shall submit invoices to NSS for reimbursement of payments that Contractor is to make to the insurance underwriters at least thirty (30) days prior to the date such payments to the insurance underwriters are due. NSS shall remit such amounts to Contractor on or before the date that Contractor's payments to the insurance underwriters are due. Contractor shall promptly advise NSS of any changes in the due dates for payments due to the insurance underwriters that previously have been invoiced to NSS and shall adjust the schedule of the corresponding payments by NSS accordingly. * Confidential portion omitted and filed separately with the Commission pursuant to a request for confidential treatment. *
Sample 1
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Procurement of Insurance by Contractor. If NSS has not exercised its option to procure insurance for Launch of the Spacecraft as contemplated by Paragraph 9.A.2., within nine (9) months prior to the Launch of the Spacecraft, Contractor shall submit to NSS for NSS' approval, the proposed Insurance Agreement which shall provide insurance for the Spacecraft from Intentional Ignition through one (1) year after Intentional Ignition. The amount of the insurance shall be equal to the Total Firm Fixed Price, including the amount of the insurance premium plus all accrued interest at the NPV Discount Rate on all money paid by NSS to Contractor (or directly to the Alternative Launch Services Provider and/or to insurance underwriters if NSS elects its option to procure Launch Services from an Alternative Launch Services Provider pursuant to Paragraphs 8.B. and 8.D. and insurance pursuant to Paragraph 9.A.2.); provided that, in the event of a successful Launch of the Spacecraft, at the time of successful separation of the Spacecraft from the Launch Vehicle, the insurance on the amount of the Operational In Orbit Incentives shall terminate. * The Insurance Agreement shall specify Contractor as the named insured until the In Service Date. NSS shall be specified as the named insured from the In Service Date to the conclusion of the term of the Insurance Agreement and as an additional insured during all other periods of the term of the Insurance Agreement. At NSS' request and expense, Contractor shall increase the amount of the insurance and/or the term of the Insurance Agreement or substitute partially therefor, * . NSS shall provide notice to Contractor of NSS' agreement or disagreement with the Insurance Agreement at least eight (8) months prior to the Launch of the Spacecraft. If there is a disagreement with the Insurance Agreement, the Parties shall meet promptly and seek to resolve the dispute. Upon approval of the Insurance Agreement by NSS, Contractor shall promptly enter into the Insurance Agreement with the insurance underwriters and shall provide a copy of such Insurance Agreement to NSS. NSS shall be permitted to participate in matters related to the Insurance Agreement as specified in the Statement of Work. The Insurance Agreement shall be assigned to NSS, at no cost to NSS, upon Acceptance of the Spacecraft.
Sample 1

Related to Procurement of Insurance by Contractor

  • Review of insurance requirements The Security Trustee shall be entitled to review the requirements of this Clause 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Majority Lenders, significant and capable of affecting the Owners or the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

  • Subcontractor Insurance Requirements Consultant shall require each of its subcontractors that perform services under this Agreement to maintain insurance coverage that meets all of the requirements of this Section 11.

  • Contractor Insurance Requirements When performing Work on property in the care, custody, or control of the Judicial Council, the Contractor shall maintain all commercial general liability insurance, workers’ compensation insurance, and any other insurance the Judicial Council deems appropriate under the Agreement. Upon request from the Judicial Council, the Contractor shall furnish an insurance certificate evidencing required insurance coverage acceptable to the Judicial Council. The Contractor may also be required to have the Judicial Council shown as an additional insured on selected policies.

  • Subcontractor Insurance In accord with Good Utility Practice, each Interconnected Entity shall require each of its subcontractors to maintain and provide evidence of insurance coverage of types, and in amounts, commensurate with the risks associated with the services provided by the subcontractor. Bonding of contractors or subcontractors shall be at the hiring Interconnected Entity’s discretion, but regardless of bonding, the hiring principal shall be responsible for the performance or non- performance of any contractor or subcontractor it hires.

  • CONTRACTOR’S INSURANCE REQUIREMENTS The insurance requirements of this Contract are set forth in Appendix J and, if applicable, Appendix J.

  • Assignment of Insurance As additional security for the payment and performance of the Obligations, the Borrower hereby assigns to the Lender any and all monies (including, without limitation, proceeds of insurance and refunds of unearned premiums) due or to become due under, and all other rights of the Borrower with respect to, any and all policies of insurance now or at any time hereafter covering the Collateral or any evidence thereof or any business records or valuable papers pertaining thereto, and the Borrower hereby directs the issuer of any such policy to pay all such monies directly to the Lender. At any time, whether or not a Default Period then exists, the Lender may (but need not), in the Lender's name or in the Borrower's name, execute and deliver proof of claim, receive all such monies, endorse checks and other instruments representing payment of such monies, and adjust, litigate, compromise or release any claim against the issuer of any such policy.

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • Contractor Insurance All insurance shall be procured from companies authorized to do business in the State of Florida, with a minimum of A.M. Best rating of A, or equivalent. Proof of coverage shall be provided by submitting to the University’s Risk Management Office a certificate or certificates, evidencing the existence thereof or insurance binders and shall be delivered within fifteen (15) days of the tentative award date of the Agreement. In the event a binder is delivered, it shall be replaced within thirty (30) days by a certificate in lieu thereto. A renewal certificate shall be delivered to the University’s Risk Management Office at least thirty (30) days prior to the expiration date of each expiring policy. The University, at its sole discretion, has the right to deviate from any of the insurance requirements herein. If the University decides to deviate from the insurance requirements stated herein, the University will inform the Contractor in writing.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Period of Insurance Period of insurance means the period shown as such on the e-certificate and validation card, which time is taken as Greenwich Mean Time unless otherwise stated.

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