Property of Others Insurance Sample Clauses

Property of Others Insurance. Contractor shall procure and maintain, during the entire time Stored Materials are in off-site storage, insurance coverage acceptable to the District that shall protect Contractor and District from all claims for Stored Materials that are lost, stolen, or damaged. The District shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid as a joint-check to the Contractor and District. If approved in advance by District, this required insurance may be obtained by an “Employee Theft Protection Insurance Policy” or an “Employee Theft Protection Bond.”
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Property of Others Insurance. (if not expressly stated as part of above insurance policies). If equipment and material are stored off-site and are in the Contractor’s possession, the Contractor shall procure and maintain, during the storage of equipment and material, insurance coverage acceptable to the District that shall protect Contractor and District from all claims for Project equipment and materials stored off-site that is lost, stolen, or damaged. The District shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid as a joint-check to the Contractor and District.
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Property of Others Insurance. (if not expressly stated as part of above insurance policies). If equipment and material are stored off-site and are in the Contractor’s possession, the Contractor shall procure and maintain, during the storage of equipment and material, insurance coverage acceptable to the District that shall protect Contractor and District from all claims for Project equipment and materials stored off-site that is lost, stolen, or damaged. The District shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid as a joint-check to the Contractor and District. If approved in advance by District, this required insurance may be obtained by an “Employee Theft Protection Insurance Policy” or an “Employee Theft Protection Bond.”
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Property of Others Insurance. Design Build Entity and Subcontractors shall procure and maintain, during the entire time Stored Materials are in off-Site storage, insurance coverage as needed in excess of the coverage provided by the Judicial Council’s Builder’s Risk Insurance acceptable to Judicial Council that shall protect Design Build Entity and Judicial Council from all claims for Stored Materials that are lost, stolen, or damaged. Judicial Council shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid to either the Design Build Entity or the Judicial Council, dependent upon ownership of Stored Materials. This insurance shall provide all-risk coverage for all Stored Materials up to the full replacement value.
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Property of Others Insurance. If this Project is not enrolled in an OCIP, then the Contractor must procure and maintain, during the entire time Stored Materials are in off-site storage, insurance coverage acceptable to Judicial Council that protects Contractor and Judicial Council from all claims for Stored Materials that are lost, stolen, or damaged. Judicial Council must be named as a loss payee for this insurance coverage. The insurance coverage must include a “loss payable endorsement” stating that, in the event the Judicial Council has paid for Stored Materials that are lost, stolen, or damages, all amounts payable will be paid directly to the Judicial Council. If approved in advance by Judicial Council, this required insurance may be obtained by an “Employee Theft Protection Insurance Policy” or an “Employee Theft Protection Bond.”
Sample 1
Property of Others Insurance. Vendor shall procure and maintain, during the entire time Stored Materials are in off-site storage, insurance coverage acceptable to the Judicial Council that shall protect Vendor and Judicial Council from all claims for Stored Materials that are lost, stolen, or damaged. The Judicial Council shall be named as a loss payee for this insurance coverage. The insurance coverage shall include a “loss payable endorsement” stating that all amounts payable will be paid as a joint-check to the Vendor and Judicial Council. If approved in advance by Judicial Council, this required insurance may be obtained by an “Employee Theft Protection Insurance Policy” or an “Employee Theft Protection Bond.”
Sample 1

Related to Property of Others Insurance

  • INDEMNIFICATION, INSURANCE AND PROTECTION OF PROPERTY The following provisions shall only apply if and to the extent Seller’s personnel enter or perform work at premises owned or controlled by Buyer or Buyer’s customer:

  • Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Xxxxxx as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Xxxxxx has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Xxxxxxxx abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Xxxxxxxx does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Xxxxxx may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower’s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.

  • Protection of Property Seller assumes, and shall ensure that all subcontractors thereof and their respective employees assume, the risk of loss or destruction of or damage to any property of such parties whether owned, hired, rented, borrowed or otherwise, brought to a facility owned or controlled by Buyer or Buyer’s customer. Seller waives, and shall ensure that any subcontractor thereof and their respective employees waive, all rights of recovery against Buyer, its subsidiaries and their respective directors, officers, employees and agents for any such loss, destruction or damage. At all times Seller shall, and ensure that any subcontractor thereof shall, use suitable precautions to prevent damage to Buyer's property. If any such property is damaged by the fault or negligence of Seller or any subcontractor thereof, Seller shall, at no cost to Buyer, promptly and equitably reimburse Buyer for such damage or repair or otherwise make good such property to Buyer’s satisfaction. If Seller fails to do so, Buyer may do so and recover from Seller the cost thereof.

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