Requirements For Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are admitted to do business, and are in good standing, in the jurisdiction in which the Premises are located and that have a rating of at least “A” and are within a financial size category of not less than “Class X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any self-insured retention greater than $25,000. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 10.13 of this Lease, below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor.
Requirements For Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are admitted to do business, and are in good standing, in the jurisdiction in which the Premises are located and that have a rating of at least “A-” and are within a financial size category of not less than “Class VIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) if not substantially in the form and content of typical policies maintained by similar sized tenants in Class A office buildings in Midtown Manhattan, be reasonably acceptable in form and content to Landlord and (2) be primary and noncontributory. Tenant shall cause its insurance carrier to endeavor to provide to Landlord at least thirty (30) days prior written notice (by certified or registered mail, return receipt requested or by fax or email) of any cancellation, failure to renew, reduction of amount of insurance, or change in coverage. No such policy shall contain any deductible or self-insured retention greater than $25,000 for general, auto and employer’s liability insurance or $100,000 for property insurance. Such deductibles and self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 11.12 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord or the Board may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Tenant’s insurance obligations under this Lease may be satisfied by a combination of primary and excess, blanket or umbrella liability insurance providing additional limits of coverage as long as such excess, blanket (to the extent covering more than one (1) Tenant location) or umbrella policy contains an aggregate per location endorsement that provides the required lev...
Requirements For Insurance. All insurances required under the Agreement will be:
(a) underwritten by reputable insurers; and
(b) maintained at least for the Term; and comply with applicable Law.
Requirements For Insurance. Insurance policies or riders required by this Agreement will be (i) taken out by the Lessee thirty (30) days before the Lessee’s use and occupancy of the Leased Premises, or at the latest, the Lessee must have a Certificate of Insurance at the time of the Lessee’s use and occupancy of the Leased Premises; (ii) maintained with responsible insurance companies organized under the laws of the United States and qualified to do business in the State of Minnesota; (iii) will contain a provision that the insurer will not cancel or revise coverage thereunder without giving written notice to the Lessee as an insured party and to the Lessor as an additional insured at least thirty (30) days before cancellation or revision becomes effective; (iv) will name the Lessee as an insured party and the Lessor as an additional insured; (v) will be in accordance with specifications approved by the insurance advisor for the Lessor; and (vi) will be evidenced by a Certificate of Insurance listing the Lessor as an additional insured, which will be filed with the Lessor.
Requirements For Insurance. Policies The insurance companies issuing all policies shall be reputable and responsible companies in the insurance industry (with a Best Rating of A-X or better), reasonably acceptable to both Lessor and Lessee. Lessor and Lessee shall deliver to each other copies of the policies of insurance required to be obtained by them under this section 14, or certificates evidencing the existence, terms and amounts of such insurance. Each policy shall provide that it shall not be cancelable or subject to reduction of coverage or other modification except after thirty (30) days' prior written notice to Lessor and Lessee. Lessor and Lessee shall, at least thirty (30) days prior to the expiration of such policies, furnish each other with renewals or "binders" thereof.
Requirements For Insurance. (i) Each Party must carry the insurance coverage listed in Section 10.4(a) with one or more insurers reasonably acceptable to the other Party.
(ii) Thirty (30) days of any Aircraft incorporating a Product being airborne, each Party shall submit to the other Party certificates of insurance evidencing all required coverage.
(iii) All policies must include a provision that the insurer will endeavor to provide thirty (30) days prior written notice before cancelling its coverage.
(iv) Without prejudice to the minimum coverage requirements mandated by this Section 10.4, each Party will provide notice to the other Party of any reduction in limits to any of the above-mentioned policies.
(v) All coverage required under this Agreement must be primary and non-contributing with any similar insurance that a Party maintains, and any certificate furnished by a Party shall be endorsed to state that is the case. Each Party reserves the right to increase the dollar amount of required coverage if the parties renew this Agreement.
(vi) Additionally, with respect to the policies described Sections 10.4(a)(i) and 10.4(a)(ii) required to be maintained by Joby Aero, the following additional requirements shall apply:
(1) Such insurance policy(ies) shall [*****].
(2) Such insurance policy(ies) shall cover risks of loss, damage or injury associated directly or indirectly with the performance of Joby Aero’s or any other JOBY Entities’ obligations. If JOBY personnel will be working at a location of TOYOTA or a TOYOTA Affiliate, an alternate employer endorsement is required on the Workers Compensation insurance program.
(3) Joby Aero shall provide TOYOTA with proof of the acquisition of all such insurance coverages in the form of one or more certificates of insurance [*****].
(4) [*****].
(5) Such insurance policies shall be procured from insurers with an A.M. Best’s performance rating of at least A- and with a financial size category of at least Class VII. TOYTOTA’s approval of any of Joby Aero’s insurance policies does not relieve or limit any of Joby Aero’s obligations under the Agreement, including but not limited to any indemnity or defense obligations hereunder, or for claims outside the scope of the coverage, excluded by, or which exceed the required insurance limits of such policy(ies).
Requirements For Insurance. Insurance policies or riders required by this Agreement must: (i) be taken out by Contractor before Contractor provides any services described under the Scope of Services; (ii) be maintained with responsible insurance companies organized under the laws of the United States and qualified to do business in the State of North Dakota; (iii) contain a provision that the insurer will not cancel or revise coverage thereunder without giving written notice to Contractor as an insured party and to the City as an additional insured at least thirty (30) days before cancellation or revision becomes effective; (iv) name Contractor as an insured party and the City as an additional insured; (v) be in accordance with specifications approved by the insurance advisor for the City; and (vi) be evidenced by a Certificate of Insurance listing the City as an additional insured, which will be filed with the City.
Requirements For Insurance. Supply Condition 14.2 be deleted and replaced with the following:
Requirements For Insurance. On or before the Commencement Date, Lessor and Lessee shall deliver to each other a certificate of insurance reflecting that the insurance each is required to carry under this Lease is in effect. Lessor and Lessee shall also provide evidence of renewed insurance coverage prior to the expiration of any such policies. Any insurance that Lessor and Lessee are required to carry under this Lease shall contain a provision which requires the insurance carrier to give the other party not less than 30 days written notice prior to any cancellation or modification of such coverage. All insurance required to be carried by either party under this Lease shall be in form and content, and written by insurers acceptable to the other party, in its reasonable discretion.
Requirements For Insurance. The policy will: (i) be approved in advance by Licensor; (ii) name Licensor including: all Licensor’s directors, trustees, officers, partners, employees, agents, and representatives as additional insureds, to be called out in the additional insured as “University of Florida Board of Trustees, Xxxxxx Xxxx, 000 XX 00xx Xx, Xxxxxxxxxxx, XX 00000”; (iii) be non- contributing with, and will apply only as, primary insurance, and not as excess to any other insurance available to the Licensor; and (iv) contain an obligation of the insurers to notify the Licensor by certified mail not less than forty-five (45) days prior to any material change, cancellation, or termination of any such policy. Certificates of insurance in a form reasonably approved by Licensor or copies of such insurance policies certified by an authorized officer of Licensee’s insurer as being complete and current, will be delivered to the Licensor at least fifteen (15) days prior to the beginning of the initial license period. If Licensee fails to take out, or to keep in force, this insurance policy, or should the policy not be approved by the Licensor, and Licensee does not cure such default within forty-eight (48) hours after written notice by the Licensor, Licensor may purchase such insurance and add administrative costs to the Licensee’s monthly invoice. Licensee will not keep any article in the Licensed Space that may be prohibited by any fire or casualty insurance policy that covers the Licensed Space or the Innovation Hub.
