Provisions Regarding Insurance. At its own expense Lessee shall cause casualty, public liability and property damage insurance to be carried and maintained, or shall demonstrate to the satisfaction of Lessor that adequate self-insurance is provided based upon actuarially sound insurance criteria as are consistent with generally accepted insurance industry standards with respect to the Equipment, sufficient to protect the Full Insurable Value (as that term is hereinafter defined) of the Equipment, and to protect Lessor from liability in all events and in such amount as is reasonably acceptable to Lessor or the Registered Owner, as the case may be, and which name Lessor and/or its assignee as additional named insured and as a Lender Loss Payee thereunder. All insurance proceeds from casualty losses shall be payable as hereinafter provided in this Lease. Lessee shall furnish to Lessor Assignments evidencing such coverage throughout the Lease Term. Any insurance maintained by Lessee shall be primary without any right of contribution from insurance which may be maintained by Lessor or the Registered Owner.
Provisions Regarding Insurance. At its own expense Lessee shall either cause casualty insurance to be carried and maintained, sufficient to replace each item of Equipment and to protect Lessor from liability in all events, or provide self-insurance with respect thereto, subject to applicable law and Nonappropriation. Any insurance policy maintained pursuant to this Section 5.17 shall be so written or endorsed as to make losses, if any, payable to Lessee and Lessor as their respective interests may appear but the Lessee shall have the right to administer and approve all settlements thereunder without the necessity of the Lessor's participation or consent. The Net Proceeds of any such insurance or self-insurance shall be applied as provided in Section 5.18 and Section 5.19 hereof.
Provisions Regarding Insurance. The Sub-Lessee shall, at its own expense, cause casualty, public liability and property damage insurance to be carried and maintained, or demonstrate to the satisfaction of the Lessor and the Lessee that adequate self- insurance is provided, with respect to the Equipment sufficient to protect the full replacement value of the Equipment and to protect the Lessor, the Lessee and the Sub-Lessee from liability in all events. All insurance proceeds from casualty losses shall be payable to the Lessor and the Sub-Lessee as hereinafter provided. The Sub-Lessee shall furnish to the Lessor and the Lessee, upon request, certificates of insurance evidencing such coverage throughout each Lease Term. Alternatively, upon the written approval of the Lessor and the Lessee, the Sub-Lessee may insure the Equipment under a blanket insurance policy or policies that cover not only the Equipment but also other properties.
Provisions Regarding Insurance. At its own expense Lessee shall cause casualty, public liability and property damage insurance to be carried and maintained, or shall demonstrate to the satisfaction of Lessor that adequate self-insurance is provided, with respect to the Equipment, sufficient to protect the Full Insurable Value, as that term is hereinafter defined, of the Equipment and to protect Lessor from liability in all events. All insurance proceeds from casualty losses shall be payable as hereinafter provided in this Lease. At closing, Lessee shall furnish to Lessor certificates evidencing such coverage through the Original Term, and certificates evidencing such coverage through each Renewal Term, when effective. Alternatively, Lessee may insure the Equipment under a blanket insurance policy or policies which cover not only the Equipment but other properties. If Lessee shall insure similar properties by self-insurance, Lessee will insure the Equipment by means of an adequate insurance fund set aside and maintained out of its revenues.
Provisions Regarding Insurance. At its own expense, Lessee shall maintain (a) casualty insurance insuring the Equipment against loss or damage by fire and all other risks covered by the standard extended coverage endorsement then in use in the State, and any other risks reasonably required by Lessor, in an amount at least equal to the replacement cost of the Equipment, (b) liability insurance that protects Lessor from liability in all events in form and amount satisfactory to Lessor and (c) workers' compensation coverage as required by the laws of the State; provided that, with Xxxxxx's prior written consent, Lessee may self-insure against the risks described in clauses (a) and (b); provided further that, if Lessor provides such consent Lessee shall provide to Lessor information with respect to such self-insurance program as Lessor may request from time to time. All insurance proceeds from casualty losses shall be payable as hereinafter provided. Lessee shall furnish to Lessor certificates evidencing such coverage throughout the Lease Term. All such casualty and liability insurance shall be with insurers that are acceptable to Lessor, shall name Lessor as a loss payee and an additional insured, respectively, and shall contain a provision to the effect that such insurance shall not be canceled or modified materially without first giving written notice thereof to Lessor at least 30 days in advance of such cancellation or modification. All such casualty insurance shall contain a provision making any losses payable to Lessee and Lessor as their respective interests may appear.
Provisions Regarding Insurance. The Lessee shall at all times after the Commencement Date, at its own expense, carry and maintain or cause to be carried and maintained (a) physical damage insurance with respect to the Trolley and (b) public liability insurance with respect to third-party personal and property damage, in each case with such deductibles, in such amounts, against such risks and with such insurance companies of recognized responsibility as is consistent with prudent industry practice. All policies of insurance maintained pursuant to the Section shall name the Lessor as an additional insured and require thirty (30) days prior notice to the Lessor of cancellation or material change in coverage.
Provisions Regarding Insurance. The following insurance requirements during the Lease Term shall be satisfied by the Lessee, or at the direction of the Lessee: The Lessee shall, during the construction of the {^} Project, obtain and maintain, or shall cause {^} the Developer pursuant to the Development Agreement to obtain and maintain, the insurance coverage set forth on Exhibit [D] to the Development Agreement. Following the completion of construction of the {^} Project, the Lessee shall provide insurance against the following risks in the following respective amounts to be carried and maintained with respect to the {^} Project during the Lease Term. Throughout the Lease Term the Lessee shall annually furnish to the Lessor, the Bond Insurer and the Trustee a certificate evidencing such coverage.
(a) general property and casualty insurance in an amount not less than the full replacement cost of the {^} Project, including rental operation insurance equal to twelve (12) months of Lease Payments, as well as professional liability insurance coverage, including medical malpractice liability and errors and omissions coverage, to cover all professional services to be rendered by Lessor to the Lessee, in an amount equal to two million dollars ($2,000,000) per occurrence with a five million dollar ($5,000,000) yearly aggregate, provided that if occurrence coverage is not available, claims-made coverage with a three year tail coverage shall be provided for the same amounts and aggregate as described above;
(b) Workers' compensation insurance (including employer liability) covering all employees of the Lessor working on, in, near or about the {^} Project, in the amount and manner required by Florida law, provided, such coverage may be provided by separate coverage or as an additional endorsement to a general liability policy, but shall be in the same amounts and limits of coverage as that required for general liability coverage;
(c) premises liability insurance (which may be included in any general liability coverage) and property coverage (fire and extended coverage) for the full value of all the moveable contents of the buildings, structures or other facilities operated by the Lessor or any subcontractor therefor;
(d) environmental impairment liability coverage for liability resulting from sudden, accidental or gradual pollution arising from operations conducted by the insured, covering damage for bodily injury and property damage, in the amount of one million dollars ($1,000,000) per occurrence ...
Provisions Regarding Insurance. During acquisition, construction and installation of the Facilities the School Board shall require any contractor to provide Worker’s Compensation, Comprehensive General Liability Insurance, Property Insurance, Professional Liability Insurance, Builders Risk Insurance, Automobile Liability Insurance, Property Insurance, Professional Liability Insurance and other insurance pursuant to the terms of the Instructions to Bidders and the General Conditions of the School Board. Contractors shall be required to provide builder’s all risk property damage insurance in an amount not less than the full value of all work in place and materials and equipment provided or delivered by each supplier. The Trustee and the Corporation shall be named as additional insureds and loss payees wherever the School Board is to be so named, and shall be entitled to written notice of cancellation to the same extent as the School Board.The School Board shall, during the Lease Term, purchase and maintain property insurance coverage in an amount not less than $100,000,000 per occurrence, covering the replacement cost of its property including the Facilitiesagainst such risks and in such amounts as are customarily insured against in connection with the operation of facilities comparable in size and scope to the Facilities, and the School Board will carry and maintain or cause to be carried and maintained and pay, or cause to be paid, the premiums for at least the following insurance with respect to the Facilities, to the extent such insurance is available at commercially reasonable costs, insuring against the perils of FIRE, LIGHTNING, WINDSTORM, HAIL, HURRICANE, WINDBLOWN RAIN, DAMAGE FROM WATER, EXPLOSION, AIRCRAFT, VEHICLES, SMOKE, VANDALISM AND MALICIOUS MISCHIEF, TRANSPORTATION HAZARDS, THEFT AND BURGLARY. The School Board shall also purchase and maintain, or cause to be purchased and maintained, combined general and automobile liability insurance coverage in an amount not less than $1,000,000 per occurrence. The School Board shall also purchase and maintain, or cause to be purchased and maintained boiler & machinery insurance coverage (including air conditioning equipment) in an amount not less than $500,000 per accident. Determination of the appropriate amount of insurance coverage shall be made annually by the Superintendent, in consultation with the Insurance Consultant and risk management department of the District, and the School Board shall follow the recommendations of the Sup...
Provisions Regarding Insurance. The Lessee shall at all times after the Commencement Date, at its own expense, carry and maintain or cause to be carried and maintained (a) physical damage insurance with respect to each Bus and those articles of the Support Items typically covered by a commercial insurance policy and (b) public liability insurance with respect to third-party personal and property damage, in each case with such deductibles, in such amounts, against such risks and with such insurance companies of recognized responsibility as is consistent with prudent industry practice. All policies of insurance maintained pursuant to this Section shall name the Lessor as an additional insured and require thirty (30) days’ prior notice to the Lessor of cancellation or material change in coverage.
Provisions Regarding Insurance. At its own expense Lessee shall cause casualty, public liability and property damage insurance to be carried and maintained (and evidenced by certificates delivered to Lessor throughout the Lease Term) in the amounts and for the coverages set forth on Exhibit G, provided that the amount of casualty and property damage insurance shall not be less than the then applicable Purchase Price. All insurance proceeds from casualty losses shall be payable as hereinafter provided in this Agreement.
