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. Any insurance policy pursuant to this Section shall be so written or endorsed as to make losses, if any, payable to the Lessor and the Sub-Lessee as their respective interests may appear and naming both the Lessor and the Lessee as additional insureds for liability. The Net Proceeds (as defined in Section 10.01) of the insurance required in this Section shall be applied as provided in Article X hereof. Each insurance policy provided for in this Section shall contain a provision to the effect that the insurance company shall not cancel the policy or modify it materially and adversely to the interest of the Lessor without first giving written notice thereof to the Lessor and the Lessee at least thirty (30) days in advance of such cancellation or modification; provided however that notice must be given no less than ten (10) days in advance of cancellation or modification for nonpayment if such ten (10) day cancellation period is customary in the insurance industry. DRAFT
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. Lessee shall notify Lessor within five business days of any event of damage to or destruction of the Equipment.
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. 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. Lessee shall carry Worker’s Compensation insurance covering all employees working on, in, near or about the Equipment, or demonstrate to the satisfaction of Lessor that adequate self-insurance is provided, and shall require any other person or entity working on, in, near or about the Equipment to carry such coverage, and will furnish to Lessor certificates evidencing such coverage throughout the Lease Term.
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.
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.
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
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.
