Regulatory Oversight. SECTION 9.1 - INDEMNIFICATION [SEE G.L.c. 166A §5(b)] The Licensee shall at its sole cost and expense indemnify and hold the Town harmless at all times during the term of this Renewal License, and subsequent renewals, if any, from any and all claims for injury and damage to persons or property, both real and personal, caused by the construction, installation, operation or maintenance of any structure, equipment, wire or cable authorized to be installed pursuant to this Renewal License. Upon receipt of notice in writing from the Issuing Authority, the Licensee shall at its own expense defend any action or proceeding against the Town in which it is claimed that personal injury or property damage was caused by activities of the Licensee, its employees and/or agents, in the construction, installation, operation or maintenance of its Cable Communications System.
SECTION 9.2 - INSURANCE [SEE G.L.c. 166A §5(c)]
(a) The Licensee shall carry insurance throughout the term of this Renewal License and any removal period pursuant to G.L.c. 166A, §5(f) with the Town named as an additional insured with an insurance company authorized to conduct business in Massachusetts satisfactory to the Issuing Authority indemnifying the Town and the Licensee from and against any and all claims for injury or damage to persons or property, both real and personal, caused by the construction, installation, operation, maintenance or removal of its Cable System. The amount of such insurance against liability for damage to property shall be no less than One Million Dollars ($1,000,000) as to any one occurrence. The amount of such insurance for liability for injury or death to any person shall be no less than One Million Dollars ($1,000,000). The amount of such insurance for excess liability shall be Five Million Dollars ($5,000,000) in umbrella form. Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation.
(b) The Licensee shall carry insurance against all claims arising out of the operation of motor vehicles and general tort or contract liability in the amount of One Million Dollars ($1,000,000). Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation.
(c) All insurance coverage, including Workers' Compensation, shall be maintained throughout the period of this Renewal License. All expenses incurred for said insurance shall be at the sole exp...
Regulatory Oversight. Each of the Signatory States shall maintain independent regulatory oversight over the Company's compliance with the terms of this Agreement and in furtherance thereof, the Company agrees to the following:
a. For a period of thirty-six (36) months following the Effective Date, the Company shall provide to the Lead States quarterly reports on the implementation and execution of the requirements of this Agreement. Each quarterly report shall be delivered to each of the Departments within forty-five (45) days following the end of the calendar quarter. Copies of these reports will also be made available to a Signatory State's designated examiner, upon reasonable request, to allow it to assist the Departments in monitoring compliance with the requirements of this Agreement.
b. Thirty-Nine (39) months following the Effective Date the Lead States shall conduct a Multi-State Examination of t he Company's compliance with the requirements of this Agreement. The Lead States shall provide a report summarizing the results of that examination to the Company and Signatory States. The examination shall be performed with the cost of the examination to be borne by the Company in accordance with the Lead States respective laws.
c. The reasonable costs and expenses of the Signatory States related to the monitoring of the Company's compliance with the Agreement, including the costs and expenses of conducting any reviews or examinations required by the Agreement, as well as participating in any meetings, presentations or discussions with the Company, shall be borne by the Company.
d. The monitoring of the Company for compliance with the terms of this Agreement constitutes an ongoing examination by each of the Signatory States pursuant to each of their respective laws. Consistent with applicable law, each Signatory State shall accord confidential treatment to the work papers, recorded information, documents, copies of work papers, and documents produced by, obtained by or disclosed by the Company.
e. This Agreement does not impair, restrict, suspend, or disqualify the Company from engaging in any lawful business in any state, and this Agreement shall not impair or disqualify the Company from engaging in any lawful business in any jurisdiction, based upon, or arising out of, the Multi-State Examination regarding any alleged act or omission of the Company, unless the Company breaches the terms of this Agreement.
Regulatory Oversight. (a) All obligations under this Agreement may be terminated except to the extent determined that the continuation of the Agreement is necessary for the continued operation of Parent or Bank by order of any state or federal banking regulatory agency with supervision of the Parent or Bank or any of their affiliates, unless stayed by appropriate proceedings, and neither Parent nor Bank shall be under no obligation to perform any of its obligations hereunder if it is informed in writing by any state or federal banking regulatory agency with supervision of the Parent or Bank or any of their affiliates that performance of its obligations would constitute an unsafe or unsound banking practice.
(b) If Bank is in default (as defined in section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this provision shall not affect any vested rights of the parties.
(c) Notwithstanding anything herein to the contrary, any payments made to Executive pursuant to the Agreement, or otherwise, shall be subject to and conditional upon compliance with 12 USC §1828(k) and any regulation promulgated thereunder.
Regulatory Oversight. (a) All obligations under this Agreement may be terminated, except to the extent determined that the continuation of the Agreement is necessary for the continued operation of the Company, by order of any state or federal banking regulatory agency with supervision of the Company or any of its affiliates, unless stayed by appropriate proceedings, and the Company shall not be under any obligation to perform any of its obligations hereunder if it is informed in writing by any state or federal banking regulatory agency with supervision of the Company or any of its affiliates that performance of any of such obligations would constitute an unsafe or unsound banking practice.
(b) If the Company is in default (as defined in section 3(x)(1) of the Federal Deposit Insurance Act [12 U.S.C.§1813(x)(1)]), all obligations under this Agreement shall terminate as of the date of default, but this provision shall not affect any vested rights of the parties.
(c) Notwithstanding anything herein to the contrary, any payments made to Executive pursuant to the Agreement, or otherwise, shall be subject to and conditional upon compliance with 12 USC §1828(k) and any regulation promulgated thereunder.
Regulatory Oversight. All obligations under this Agreement may be terminated except to the extent determined that the continuation of the Agreement is necessary for the continued operation of the Employer by order of any state or federal regulatory agency with supervision of the Employer, unless stayed by appropriate proceedings, and the Employer shall be under no obligation to perform any of its obligations hereunder if it is informed in writing by any state or federal regulatory agency with supervision of the Employer that performance of its obligations would constitute an unsafe or unsound business practice.
Regulatory Oversight. Resident shall comply with all applicable federal, state and local laws and regulations and the standards of all applicable accreditation organizations, such as The Joint Commission.
Regulatory Oversight. (a) All obligations under this Agreement may be terminated except to the extent determined that the continuation of the Agreement is necessary for the continued operation of Company by order of any state or federal banking regulatory agency with supervision of the Company, unless stayed by appropriate proceedings, and Company shall be under no obligation to perform any of its obligations hereunder if it is informed in writing by any state or federal banking regulatory agency with supervision of the Company that performance of its obligations would constitute an unsafe or unsound banking practice.
(b) If Company is in default (as defined in section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this provision shall not affect any vested rights of the parties.
(c) Notwithstanding anything herein to the contrary, any payments made to Executive pursuant to the Agreement, or otherwise, shall be subject to and conditional upon compliance with 12 USC §1828(k) and any regulation promulgated thereunder.
Regulatory Oversight. Each of the Departments shall maintain independent regulatory oversight over the Company’s compliance with the terms of this Agreement and in furtherance thereof, Prudential agrees to the following:
a. For a period of thirty-six (36) months following the Effective Date, the Company shall provide to the Lead Departments quarterly reports on the implementation and execution of the requirements of this Agreement. Each report shall be delivered to each of the Lead Departments within forty five (45) days following the end of the applicable reporting period.
b. The Company may petition a Department to terminate or modify this Agreement in that state. Such a petition may include, but not be limited to, the following grounds:
(i) the Agreement’s terms, in whole or in part, are inconsistent with the statutes, rules or regulations then in effect in that state; (ii) that a Future Settlement Agreement with a company possessing substantial market share is more favorable than the Agreement; or (iii) Future Settlement Agreements have not been entered into with companies possessing substantial market share. A Department will not unreasonably withhold its consent to the relief requested by the Company in its petition. Once made by the Company, the Multi-State Examination Payment, as allocated to each Department, is final and non-recoverable under any circumstances including the termination of this Agreement.
c. In addition to the payments set forth in Section 3, the reasonable costs and expenses of the Departments related to the monitoring of the Company’s compliance with the Agreement, including the costs and expenses of conducting any reviews or examinations permitted by the Agreement, as well as participating in any meetings, presentations or discussions with the Company, shall be borne by the Company.
d. The monitoring of Company for compliance with the terms of this Agreement constitutes an ongoing examination by each of the Departments pursuant to each of their respective state laws. Consistent with applicable law, each Department shall accord confidential treatment to the work papers, recorded information, documents, copies of work papers, and documents produced by, obtained by or disclosed by Company.
Regulatory Oversight. The Lead States shall maintain regulatory authority and oversight over Company’s compliance with the terms of this Agreement. With respect to such continuing oversight, Company agrees as follows:
a. During the Monitoring Period, Company shall provide to the EIC semi-annual reports on the implementation and execution of the requirements of this Agreement. Each report shall be delivered to the EIC within forty-five (45) days following the end of the applicable reporting period (e.
Regulatory Oversight. 36 ARTICLE 10 MISCELLANEOUS 43 SIGNATURE PAGE 46 EXHIBIT A BUILDINGS ON THE SUBSCRIBER NETWORK 47 EXHIBIT B INSTITUTIONAL NETWORK DROPS 48 EXHIBIT C SCHEDULE OF CURRENT MONTHLY RATES AND CHARGES 49
