Required Insurance Coverages and Limits Sample Clauses

Required Insurance Coverages and Limits. The Lessee agrees that it will at its own cost and expense at all times during the Term: (i) Keep the Leased Property insured against all physical loss including by fire, windstorm, explosion, flood, subsidence, earthquake, earth movement and collapse and with all-risk coverage and against all such other risks as are insured against by the Lessee with respect to property of a similar character owned or leased by the Lessee, in an amount not less than the greater of (A) the replacement value of the Facility and (B) the Casualty Value of the Facility as of the next preceding Rent Payment Date, which insurance shall (v) cover all materials, equipment, tools and supplies stored on the Site and to become part of the Leased Property, (w) cover all portions of the Leased Property while in transit, (x) include boiler and machinery insurance, (y) include coverage against loss caused by explosion and breakdown and (z) waive any condition requiring that the Leased Property be in use or ready for use, (ii) Maintain comprehensive general public liability insurance with respect to the Leased Property including liability coverage for premise-operations, contractual liability (including liability pursuant to Section 8 of the Participation Agreement), product liability, and owned, non-owned and hired car auto liability, which coverage shall be against damage because of bodily injury, including death, or damage to property of others, such insurance to afford protection to the limit of not less than $15,000,000 combined single limit in respect of bodily injury, death and damage to property of others, and (iii) Maintain such other insurance covering such risks and in such amounts as is customary by corporations owning, operating or leasing property or engaged in the same or similar business, similarly situated with the Leased Property and/or the Lessee, to the extent available on commercially reasonable terms. The Lessee agrees to maintain all insurance provided for under this Section 7 with good and responsible insurance companies of recognized national reputation approved by the OwnerTrustee and the Participants. Any policies of insurance carried in accordance with this Section 7 and any policies taken out in substitution or replacement for any of such policies (1) shall name the Insured Parties as additional insureds, (2) shall provide that in respect of the interest of the Insured Parties in such policies the insurance shall not be invalidated by any action or inaction of...
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Required Insurance Coverages and Limits. The Company agrees that it shall at its own cost and expense and at all times during the term carry and maintain or cause to be carried and maintained: (i) Casualty Insurance -- "all risk" property insurance on its property in any amount equal to the replacement cost of such properties, provided that flood and earthquake insurance shall be subject to availability on commercially practicable terms; (ii) Liability Insurance -- comprehensive general liability insurance (including, without limitation, blanket contractual, personal injury, XCU hazards, products/completed operations, independent contractors, sudden and accidental pollution liability, gradual pollution liability, "failure to supply" and broad form property damage) applicable to its properties in such amounts as from time to time are usually carried by corporations similar to the Company owning or leasing and operating similar properties in similar locations, provided that gradual pollution liability, sudden and accidental pollution liability and "failure to supply" shall be subject to availability on commercially practicable terms; and provided further that the Company shall be required to carry and maintain liability insurance in a minimum amount equal to $9,000,000; (iii) Worker's Compensation -- worker's compensation insurance with respect to employees of the Company sufficient to meet the statutory requirements of the State of California; and (iv) Other Insurance -- such other insurance with respect to its property and business of such a nature, with such terms and in such amounts, as a reasonably prudent person would maintain with respect to similar properties and a similar business, and, in any event, shall maintain insurance on all its property of a character usually insured by corporations engaged in the same or a similar business similarly situated against loss or damage of the kinds and in the amounts customarily insured against and for by such corporations. All the foregoing insurance policies shall be subject to such deductible amounts and retentions as are usual and customary for corporations similar to the Company owning or leasing and operating similar properties, but in no event greater than reasonably acceptable to the Purchaser. In addition, the Company shall require worker's compensation and liability coverage by contractors and major subcontractors at all times that any of the foregoing shall be performing services on all or any portion of the property of the Company.
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Required Insurance Coverages and Limits. (a) The Lessee shall at its own cost and expense at all times during the Lease Term: (i) keep each Item of Equipment insured against all risks of physical loss or damage and against all such other risks as are insured against by the Lessee with respect to property of a similar character owned or leased by the Lessee on terms and in amounts that are no less favorable than insurance covering other similar properties owned by the Lessee and that are in accordance with normal industry practices, provided that such insurance shall not be less than the Stipulated Loss Value of such Item of Equipment as of the immediately preceding Scheduled Payment Date, and (ii) maintain comprehensive general public liability insurance with respect to the Equipment including liability coverage for products liability and contractual liability, which coverage shall be against damage because of bodily injury, including death, or damage to property of others, such insurance to be on terms and in amounts that are no less favorable than insurance maintained by the Lessee with respect to similar properties that it owns and that is in accordance with normal industry practice, provided that such insurance shall not be less than $1,000,000 per occurrence and $20,000,000 in the aggregate (or $50,000,000 in the aggregate including layered umbrella coverage). (b) All insurance policies required hereunder shall (i) require 30 days prior written notice to the Lessor Trustee and the Agent of cancellation or material change in coverage; (ii) name the Lessor Trustee, the Agent and the Certificate Holders as additional insureds and, under the property insurance policies, name the Lessor Trustee as sole loss payee; (iii) be considered primary insurance without any right of contribution from other policies held by the Lessor Trustee, the Agent or the Certificate Holders; (iv) waive any right of subrogation against the Lessor Trustee, the Agent and the Certificate Holders; (v) waive the right of the insurer to any set-off, counterclaim or other deduction, whether by attachment or otherwise, in respect of any liability of the Lessor Trustee, the Agent or the Certificate Holders; (vi) specify that the Lessor Trustee, the Agent and the Certificate Holders shall not be liable for any premiums or deductibles; (vii) be in full force and effect throughout any geographical areas in which any Item of Equipment is located; and (viii) provide that, in respect of the interests of the Lessor Trustee, the Agent a...
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Required Insurance Coverages and Limits. The Company agrees that it will at its own cost and expense and at all times during the term carry and maintain or cause to be carried and maintained:
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Required Insurance Coverages and Limits. The Company agrees that it shall at its own cost and expense and at all times during the term carry and maintain or cause to be carried and maintained: (i) CASUALTY INSURANCE -- "all risk" property insurance on the Mortgaged Property in any amount equal to the replacement cost of the Mortgaged Property, PROVIDED that flood and earthquake insurance shall be subject to availability on commercially practicable terms;
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Related to Required Insurance Coverages and Limits

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • Required Insurance The HSP will put into effect and maintain, with insurers having a secure A.M. Best rating of B+ or greater, or the equivalent, all necessary and appropriate insurance that a prudent person in the business of the HSP would maintain, including, but not limited to, the following at its own expense: Commercial General Liability Insurance, for third party bodily injury, personal injury and property damage to an inclusive limit of not less than 2 million dollars per occurrence and not less than 2 million dollars products and completed operations aggregate. The policy will include the following clauses: a. The Indemnified Parties as additional insureds; b. Contractual Liability; c. Cross-Liability;

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Minimum Scope and Limits of Insurance Contractor shall provide coverage with limits of liability not less than those stated below.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Minimum Limits of Insurance CONSULTANT shall maintain limits no less than: 1. Commercial General Liability: $1,000,000 per occurrence for bodily injury, personal injury and property damage. If Commercial Liability Insurance or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to this project/location or the general aggregate limit shall be twice the required occurrence limit; and 2. Automobile Liability: $1,000,000 combined single limit per accident for bodily injury and property damage; and

  • Insurance Coverages (a) Borrower will maintain such insurance coverages and endorsements in form and substance and in amounts as Lender may require in its sole discretion, from time to time except to the extent such coverages and endorsements are not reasonably commercially available and further provided such coverages and endorsements are not more onerous to Borrower than the types and amounts Lender requires for other properties that are similar in type or location as the Property. Until Lender notifies Borrower of changes in Lender’s requirements, Borrower will maintain not less than the insurance coverages and endorsements Lender required for closing of the Loan except to the extent such coverages and endorsements are not commercially available and are more onerous to Borrower than the types and amounts Lender requires for other properties that are similar in type or location as the Property. (b) The insurance, including renewals, required under this Section will be issued on valid and enforceable policies and endorsements satisfactory to Lender (the "Policies"). Each Policy will contain a standard waiver of subrogation and a replacement cost endorsement and will provide that Lender will receive not less than 30 days’ prior written notice of any cancellation, termination or non-renewal of a Policy or any material change other than an increase in coverage and that Lender will be named under a standard mortgage endorsement as loss payee. (c) The insurance companies issuing the Policies (the "Insurers") must be authorized to do business in the State or Commonwealth where the Property is located, must have been in business for at least 5 years, must carry an A.M. Best Company, Inc. policy holder rating of A-or better and an A.M. Best Company, Inc. financial category rating of (i) Class X or better for all primary liability coverage and the first 80% of liability coverage and (ii) Class VIII or better for all secondary and remaining liability coverage and must be otherwise satisfactory to Lender. Lender may select an alternative credit rating agency and may impose different credit rating standards for the Insurers. Notwithstanding Xxxxxx’s right to approve the Insurers and to establish credit rating standards for the Insurers, Lender will not be responsible for the solvency of any Insurer. (d) Notwithstanding Xxxxxx’s rights under this Article, Xxxxxx will not be liable for any loss, damage or injury resulting from the inadequacy or lack of any insurance coverage. (e) Borrower will comply with the provisions of the Policies and with the requirements, notices and demands imposed by the Insurers and applicable to Borrower or the Property. (f) Borrower will pay the Insurance Premiums for each Policy not less than 30 days before the expiration date of the Policy being replaced or renewed and will deliver to Lender an original or, if a blanket policy, a certified copy of each Policy marked "Paid" not less than 15 days prior to the expiration date of the Policy being replaced or renewed. Borrower shall have the right to pay Insurance Premiums pursuant to an arrangement with one or more finance companies for the financing of certain blanket insurance policies maintained by Borrower under a Property Insurance Sharing Agreement among Borrower and certain of its affiliates (a "Blanket Insurance Premium Financing Arrangement"). Pursuant to such an arrangement Borrower will pay to such finance companies Borrower’s allocable share of the annual initial deposit for the applicable Insurance Premiums (the "Deposit") and Borrower’s allocable share of ten (10) regular monthly payments (the "Regular Payments") due for each blanket policy. The term "Financing Installment" as used herein means 1/12th of the aggregate of the Deposit and the Regular Payments for each annual period, as such amounts may be adjusted as hereafter set forth. Not less than twenty (20) days prior to each renewal date of each blanket policy, Borrower will provide Beneficiary in writing the estimated premium for such blanket policy for the following renewal period, and not less than ten (10) days after the renewal date, Borrower will provide Beneficiary in writing the actual amount of such premium. Borrower will also notify Beneficiary in writing within ten (10) days after any change in the amounts allocated to the Property under the Blanket Insurance Premium Financing Arrangement or any other change in premiums or amounts due from Borrower under the Blanket Insurance Premium Financing Arrangement. Thereafter, the "Financing Installment" shall be adjusted as reasonably determined by Beneficiary. In the event of any material change in the Blanket Insurance Premium Financing Arrangement, the foregoing provisions shall be modified as reasonably determined by Beneficiary in order to carry out the intent and purposes thereof.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below. The specifications for all reinsurance under this Agreement are provided in Schedule A. A. Requirements for Automatic Reinsurance For risks which meet the requirements for automatic reinsurance as set forth below, Reinsurer will participate in a reinsurance Pool whereby Reinsurer will automatically reinsure a portion of the insurance risks as indicated in Schedule A. The requirements for automatic reinsurance are as follows: 1. The individual risk must be a resident of the United States or Canada at the time of application. 2. The individual risk must be underwritten according to the Ceding Company's standard underwriting practices and guidelines. This individual risk will be determined to be a true Table 1,2,3 or 4 based on the Ceding Company's normal underwriting guidelines and will be issued as a Standard Risk. 3. Any risk offered on a facultative basis by the Ceding Company to the Reinsurer or any other company will not qualify for automatic reinsurance under this Agreement for the same risk and same life. 4. The minimum issue age on any risk will be age 5 and the maximum issue age on any risk will be age 75. B. Basis of Reinsurance Reinsurance under this Agreement will be on the basis as stated in Schedule B. C. Policy Forms When requested, the Ceding Company will furnish the Reinsurer with a copy of each policy, rider, rate book, and applicable sales or marketing material that applies to the life insurance reinsured hereunder.

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