Required Endorsements and Minimum Sublimits Sample Clauses

Required Endorsements and Minimum Sublimits. All property insurance policies must include endorsements and minimum sublimits as necessary to provide coverages not significantly less than the coverages maintained by LRC under policies covering other significant properties owned or occupied by LRC. (Note: For purposes of comparing minimum sublimits required by the preceding sentence, dollar amounts will be considered as percentages of the estimated value of the improvements and other property insured. Thus, for example, LRC may, without violating this requirement maintain a minimum sublimit applicable to the Improvements which is one-third the amount of the same sublimit applicable to another building owned by LRC if the other building has an estimated value that is three times higher than the estimated value of the Improvements.)
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Required Endorsements and Minimum Sublimits i. Additional Expenses Due To Delay In Completion Project, including but not limited to financing costs including interest expenses, insurance expenses, professional fees and taxes; Included with specific sublimits (based on an estimated 12 period of indemnity) as follows: $1,900,000 — construction financing interest. $380,000 — real estate taxes $204,000 — insurance premiums ii. Agreed Value; No coinsurance
Required Endorsements and Minimum Sublimits. After the Completion Date, all property insurance policies must include endorsements and minimum sublimits as necessary to provide coverages not significantly less than the coverages maintained by LRC under policies covering other significant properties owned or occupied by LRC. (Note: For purposes of comparing minimum sublimits required by the preceding sentence, dollar amounts will be considered as percentages of the estimated value of the improvements and other property insured. Thus, for example, LRC may, without violating this requirement maintain a minimum sublimit applicable to the Improvements which is one-third the amount of the same sublimit applicable to another building owned by LRC if the other building has an estimated value that is three times higher than the estimated value of the Improvements.) Also, on and before the Completion Date, property insurance policies must include endorsements and minimum sublimits as follows: Description Other Requirement
Required Endorsements and Minimum Sublimits i. Additional Expenses Due To Delay In Completion Project, including but not limited to financing costs including interest expenses, insurance expenses, Included with specific sublimits (based on an estimated 12 period of indemnity) as follows: professional fees and taxes; $1,900,000 — construction financing interest. $380,000 — real estate taxes $204,000 — insurance premiums ii. Agreed Value; No coinsurance iii. Boiler & Machinery on a Comprehensive Basis; Included without sublimit iv. Damage Resulting From or Arising From Error, Omission or Deficiency In Design, Specifications, Workmanship or Materials, Including Collapse; Included without sublimit v. Debris Removal Additional Limit; Debris Removal $4,000,000 sublimit vi. Earthquake including Sprinkler Leakage; $10,000,000 sublimit vii. Expediting Expenses; $50,000 sublimit viii. Flood — Annual Aggregate including Earthquake Sprinkler Leakage; $10,000,000 sublimit

Related to Required Endorsements and Minimum Sublimits

  • Required Endorsements The Commercial General Liability policy shall contain the following endorsements, which shall accompany the Certificate of Insurance:

  • Additional Endorsements The Auto and Commercial General Liability Policies shall name the Texas A&M University System Board of Regents for and on behalf of The Texas A&M University System as additional insured’s.

  • Insurance Endorsements The insurance policies shall contain the following provisions, or Consultant shall provide endorsements on forms supplied or approved by the City to add the following provisions to the insurance policies:

  • Certificate of Insurance/Endorsements A certificate of insurance from an insurer with a Best's rating of no less than A- indicating compliance with the required coverages has been received by State Procurement Bureau, X.X. Xxx 000000, Xxxxxx, XX 00000-0000. The certificates must name the State of Montana as certificate holder and Contractor shall provide copies of additional insured endorsements required by Contractor’s commercial general liability and automobile liability policies. Contractor must notify State immediately of any material change in insurance coverage, such as changes in limits, coverages, change in status of policy, etc. State reserves the right to require complete copies of insurance policies at all times.

  • Coverage Minimum Limits Commercial General Liability $1,000,000 per occurrence $2,000,000 aggregate Automobile Liability including coverage for owned, non-owned and hired vehicles $1,000,000 per occurrence

  • ADDITIONAL INSURED ENDORSEMENT AND PRIMARY AND NON-CONTRIBUTORY INSURANCE CLAUSE Supplier agrees to list Sourcewell and its Participating Entities, including their officers, agents, and employees, as an additional insured under the Supplier’s commercial general liability insurance policy with respect to liability arising out of activities, “operations,” or “work” performed by or on behalf of Supplier, and products and completed operations of Supplier. The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self-insurance in force for the additional insureds.

  • Required Liability Insurance; Personal Property During the full term of the Housing Agreement, Resident agrees to obtain and maintain at Resident’s expense a policy of personal liability insurance (i.e., renter’s liability insurance) from a licensed insurance carrier in the United States, with coverage of at least $100,000 per occurrence at actual replacement cost, covering Owner’s losses of any kind arising from fire, smoke or water and caused by Resident’s negligence and/or by Resident’s animal. The liability insurance requirement and the existence or limits of any such insurance will not reduce or supersede Resident’s obligations under this Housing Agreement, except to the extent Owner charges and Resident pays for a waiver of this insurance requirement as provided below. Resident is not obligated to purchase insurance from any specific provider and may arrange its own personal liability insurance policy from any insurer of Resident’s choosing meeting the requirements of this paragraph, in which case Resident agrees to provide written proof of the required personal liability insurance coverage, including causing Owner and Manager to be listed as named interested parties on such insurance coverage, by mailing the proof of insurance to P.O. Box 18999, Atlanta, GA 31126-1399. Owner will provide instructions prior to move-in for submitting proof of insurance or purchasing a compliant insurance policy; Resident’s failure to comply with these insurance requirements will be a breach by Resident with Owner reserving its remedies but will not give Resident any right of termination. If Resident fails or chooses not to provide sufficient proof of compliant personal liability insurance to Owner by the Start Date, or if Resident’s insurance is cancelled during the term of this Housing Agreement, then Owner may, at its option, waive Resident’s obligation to provide such insurance and obtain its own coverage in Owner’s name for the same limited risks (up to $100,000 per occurrence from fire, smoke or water damage caused accidentally by Resident’s negligence and/or by Resident’s animal) at Owner’s expense; in such case, Resident agrees to pay as consideration for this waiver to $15.00 per installment as additional Rent during the remaining term of this Agreement, of which Owner would retain up to $5.00 per installment as an administrative fee and use the remaining portion to procure such insurance for itself. This waiver is not insurance, does not release Resident from liability for other damage or causes and does not cover Resident’s personal property. Owner strongly recommends that Resident maintain insurance covering Resident’s personal property or belongings, which Resident may elect to purchase. Neither Owner nor any of its employees, representatives or agents assumes any liability, directly or indirectly, for loss or damage to the personal property of Resident or others by fire, theft or any other cause. Any personal property remaining in the bedroom space and/or apartment at the end of the Term or after earlier termination of this Agreement will be considered abandoned by Resident and may be disposed of by Owner at the risk and expense of Resident, with Owner maintaining a landlord’s lien for unpaid rent as provided by law. Owner will not be liable or responsible for storage or disposition of the Resident’s personal property. If there are multiple individuals comprising Resident, then all references to and obligations of Resident in this paragraph 8 will apply to each such individual, separately.

  • General liability insurance endorsement The following are required: (i) ADDITIONAL INSURED endorsement naming the District, its Board of Trustees, and their officials, employees, volunteers, and agents as additional insureds. (ii) CANCELLATION endorsement which provides that the District is entitled to 30 days prior written notice of cancellation or nonrenewal of the policy, or reduction in coverage, by certified mail, return receipt requested. (iii) CONTRIBUTION NOT REQUIRED endorsement which provides that the insurance afforded by the general liability policy is primary to any insurance or self-insurance of the District, its Board of Trustees, or their officials, employees, volunteers, or agents as respects operations of the Named Insured. Any insurance maintained by the District, its Board of trustees, or their officials, employees, volunteers, or agents shall be in excess of Contractor's insurance and shall not contribute to it. (iv) SEVERABILITY OF INTEREST endorsement which provides that Contractor's insurance shall apply separately to each insured against whom a claim is made or suit is brought, except with respect to the limits of the insurer's liability. (v) ADDITIONAL INSURED COVERAGE NOT AFFECTED BY INSURED'S DUTIES AFTER ACCIDENT OR LOSS endorsement. The policy must be endorsed to provide that any failure to comply with the reporting provisions of the policy shall not affect coverage to the District, its Board of Trustees, or their officials, employees, volunteers, or agents.

  • Minimum Amounts of Insurance The Consultant shall maintain the following insurance limits: 1. Automobile Liability insurance with a minimum combined single limit for bodily injury and property damage of $1,000,000 per accident. 2. Commercial General Liability insurance shall be written with limits no less than $1,000,000 each occurrence, $2,000,000 general aggregate.

  • Payment of Taxes, Insurance and Other Charges; Collections Thereunder With respect to each Mortgage Loan, the Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments and other charges which are or may become a lien upon the Mortgaged Property and the status of premiums for Primary Mortgage Insurance Policies and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges (including renewal premiums) and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage. To the extent that a Mortgage does not provide for Escrow Payments, the Seller shall determine that any such payments are made by the Mortgagor. The Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of each Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make Servicing Advances to effect such payments, subject to its ability to recover such Servicing Advances pursuant to Subsections 11.05(c), 11.05(d) and 11.07(b). No costs incurred by the Seller or subservicers in effecting the payment of ground rents, taxes, assessments and other charges on the Mortgaged Properties or mortgage or hazard insurance premiums shall, for the purpose of calculating remittances to the Purchaser, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

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