Requirements for policies. Each policy must:
6.2.1 be with an insurer and on terms reasonably approved by the Council;
6.2.2 be in the name of the Lessee and note the interest of the Council and any other person the Council requires;
6.2.3 cover events occurring during the policy’s currency regardless of when claims are made; and
6.2.4 note that despite any similar policies of the Council, the Lessee’s policies will be primary policies.
Requirements for policies. To the extent clause 9.1(a) applies, the Sublessee must:
(a) ensure that the Lessee, the Lessor and (where the Rail Land includes Rail Corridor Land) the Land Lessor are each noted (or dealt with in such manner as may be equivalent to noting) on each Policy as an insured party;
(b) ensure, where legally possible, that each Policy provides that all insuring agreements and endorsements shall operate in the same manner as if there were a separate policy of insurance covering each insured party;
(c) ensure, where legally possible, that each Policy provides that the insurer waives all rights, remedies or relief which it might become entitled to by subrogation against any insured parties, and that failure by any insured party to observe and fulfil the terms of the Policy shall not prejudice the insurance in regard to any other insured party;
(d) ensure, where legally possible, that each Policy contains a non- imputation clause providing that any non-disclosure or misrepresentation (whether fraudulent or otherwise), any breach of a term or condition of the Policy, or any fraud or other act, omission or default by one insured party, will not affect another insured party, unless those acts or omissions were made with the connivance or actual knowledge of the other insured party;
(e) ensure that the amount of any excess or deductible payable by an insured party in respect of a claim under each Policy will not exceed the amount determined by two experienced insurance brokers, one of whom must be nominated by the Lessor, as customary for similar policies;
(f) ensure that each Policy waives all claims for insurance premiums, levies, stamp duties, charges or commissions against the Lessor or the Land Lessor;
(g) ensure that all Policy conditions, alterations, exclusions and endorsements which may have a material adverse effect on the Lessor’s interests under this Agreement or the Integrated Network Deed, or the Land Lessor's interests under the Land Lease, have been first approved in writing by the Lessor (such approval not to be unreasonably withheld or delayed);
(h) upon request by the Lessor (such requests not to be made more than once in any 12 month period) produce to the Lessor annual certificates of currency of Policies taken out pursuant to this clause 9 by the earlier of 30 Business Days after the Effective Date and commencement of physical construction of the Extension and on every anniversary of the Effective Date;
(i) not do or permit to be done, or bring or...
Requirements for policies. Each policy the Lessee takes out under this clause 9 must:
9.2.1 be with an insurer and on terms reasonably approved by the Council;
9.2.2 be in the name of the Lessee and note the interest of the Council and any other person the Council requires;
9.2.3 cover events occurring during the policy’s currency regardless of when claims are made; and
9.2.4 note that despite any similar policies of the Council, the Lessee’s policies will be primary policies.
Requirements for policies. All insurance provided for in this Article (and any other provision of this Lease) shall:
(a) be effected under standard form policies issued by insurers of recognized responsibility, licensed or authorized to do business in the State of New York, which have a rating in the latest edition of “Bests Key Rating Guide” of A or better or another comparable rating reasonably acceptable to Landlord;
(b) as to any policies of insurance of the character described in Sections 1l.Ol(a), (c), (d), (e), (h), (i) and (j) hereof, expressly provide that any losses thereunder shall be adjusted by Tenant, subject to Landlord’s prior approval, which approval shall not be unreasonably withheld. All such insurance shall be carried in the name of Landlord and Tenant and all loss payable thereunder shall be made payable to Landlord (provided that if Depositary has been appointed to receive such funds, then to such Depositary), and Tenant, as their respective interests may appear; and
(c) to the extent obtainable, contain an agreement by the insurer that such policy shall not be cancelled or materially altered without at least thirty (30) days’ prior written notice to Landlord and any Mortgagee of which Landlord shall give Tenant notice, and shall provide that any loss otherwise payable thereunder shall be payable notwithstanding any act or negligence of Landlord or Tenant which might, absent such agreement, result in a forfeiture of all or part of the payment of such loss.
Requirements for policies. 7.2.1 Each policy the Lessee takes out under this clause 7 must:
(a) be with an insurer and on terms approved by the Council;
(b) be in the joint names of the Lessee and the Council, and in such case the failure by any insured to observe and fulfil the terms of the policy will not prejudice the insurance in regard to any other insured;
(c) have no limit on the number of claims that can be made under it;
(d) cover events occurring during the policy's currency regardless of when claims are made; and
(e) note that despite any similar policies of the Council, the Lessee's policies will be primary policies.
7.2.2 Any proceeds of a claim in respect to the insurance policy set out in clause
7.1.4 that are received by the Council or the Lessee shall be applied towards reinstatement, rebuilding, repair or replacement of the Premises.
Requirements for policies. The policies required under Section 7.2.1 shall:
(a) (i) with respect to the commercial general liability policy, name Landlord; Wxxxxx XX Investors V, L.P.; Wxxxxx XX Holdings V, L.L.C.; Wxxxxx Street Real Estate Investors V, L.P.; Wxxxxx Street Real Estate Fund V, L.P.; Wxxxxx Street Real Estate Partners V, L.P.; Wxxxxx Street Managers V, L.P.; WSC Managers V, Inc.; Wxxxxx Street Capital, L.L.C.; Landlord’s lender; Landlord’s property manager; and/or any other persons or entities reasonably designated by Landlord, as additional insureds using additional insurance endorsements CG 20 10 10 01 and 20 37 07 04, and (ii) with respect to the property insurance policy, name Landlord and Landlord’s lender as loss payee;
(b) be issued by reputable, financially sound insurance companies admitted to do business in the State of California with a Best’s Rating Guide rating of A-:VIII or better at all times during which one or more policies issued by such companies are being used to satisfy any of the requirements of Section 7.2.1;
(c) provide that such policies shall not be canceled unless 30 days’ notice shall have been given to Landlord (except that 10 days’ notice of cancellation for non-payment of premiums may be given);
(d) include coverage for liability assumed under an insured contract (including the tort liability of another assumed in a business contract) with defense provided in addition to policy limits and insure performance of Tenant’s indemnity obligations set forth in this Lease, including the indemnity obligations set forth in Section 7.1;
(e) provide that no act or omissions of Tenant shall affect or limit the obligations of the insurer with respect to other insureds, including Landlord;
(f) provide that the proceeds of such insurance applicable to casualties occurring during the Term shall be used to repair or replace Tenant’s Personalty and Tenant Alterations, and to pay the Rent; and
(g) with respect to the commercial general liability policy, provide that (i) coverage shall be primary and shall not include an endorsement or modification that makes the commercial general liability policy excess over other available insurance, (ii) Landlord, although an additional insured, shall nevertheless be entitled to recovery under such policy for any damage to Landlord by reason of acts or omissions of Tenant, and (iii) the coverage carried by Landlord shall be noncontributory with respect to policies carried by Tenant.
Requirements for policies. Seller shall deliver to Buyer, prior to commencement of services or the sale of items and upon renewal of policies, certificates of insurance evidencing the required limits and containing the following language: “Wis-Pak, Inc., subsidiaries, and affiliates are listed as Additional Insured on all policies, except Workers’ Compensation, Employers’ Liability and Professional Liability, where and to the extent required by written contract or written agreement with the Named Insured”. Unless prohibited by law, policies shall also include a waiver of subrogation in favor of Buyer; policies of Seller shall be primary, and any insurance carried by Buyer shall be excess and non-contributory. The Commercial General Liability policy shall include independent contractors, if any on site. All policies shall be written by companies licensed in the state where work shall be performed, or items are produced and have a minimum AM Best Rating of “A- VII.” The issuing company and/or the Seller shall endeavor to give Buyer at least thirty (30) days prior written notice of any cancellation or change in coverage, which adversely affects the rights and/or interests of Buyer. The required amounts of insurance set forth above shall not be deemed to be a limitation of Seller’s liability under these General Terms and Conditions. Seller’s purchase of insurance coverage and the furnishing of certificates of insurance shall not release Seller of its obligations or liabilities under the Purchase Order.
Requirements for policies. Whenever under the terms of this Lease Tenant is required to maintain insurance for the benefit of Landlord, Landlord and, the Mortgagee (and any loan trustee or servicer having an insurable interest in the Premises or through Mortgagee; collectively, such parties are referred to as the “Lender Parties”) shall be (a) an additional insured in all such liability insurance policies (b) Mortgagee shall be named the sole loss payee in all such property policies. The commercial general liability insurance shall name the Mortgagee and the Lender Parties as additional insureds and all other insurance provided hereunder shall name the Mortgagee as Mortgagee and Loss Payee under a standard “non-contributory mortgagee” endorsement or its equivalent. All policies of insurance shall provide that such coverage shall be primary and that any insurance maintained separately by Landlord or the Mortgagee and the Lender Parties shall be excess insurance only. The original certificates for property insurance and an original paid endorsement or binder in respect of liability insurance naming Landlord, the Mortgagee and the Lender Parties as named insured or additional insured, as applicable, shall be delivered to Landlord not later than thirty (30) days prior to the expiration date of the applicable policy, and, Landlord and any Mortgagee, may, upon prior written notice to Tenant, review the original policies at the office of the Tenant’s Risk Manager. All of the above-mentioned insurance certificates shall be obtained by Tenant and delivered to Landlord on or prior to the date hereof, and thereafter as provided for herein, and the policies shall be obtained under valid and enforceable policies (the “Policies” or in the singular, the “Policy”), and shall be subject to the approval of Landlord or Mortgagee as to insurance companies, policy limits and any sub-limits thereof, forms (including exclusions and exceptions), deductibles, loss payees and insureds. The insurance companies must be approved, authorized or licensed to provide insurance in the state in which the Property is located and have a rating of “A” or better for financial strength claims paying ability assigned by Xxxxx’x Investors Service, Inc. (if Xxxxx’x Investors Service, Inc. provides a rating for the insurer) and Standard & Poor’s Rating Group (“S&P”), provided that if any insurance required is provided by a syndicate of insurers, the insurers with respect to such insurance shall be acceptable if: (i) the first...
Requirements for policies. 6.2.1 Each policy the Lessee takes out under this clause 6 must:
(a) note the Council as an interested party;
(b) have no limit on the number of claims that can be made under it;
(c) cover events occurring during the policy's currency regardless of when claims are made; and
(d) note that despite any similar policies of the Council, the Lessee's policies will be primary policies.
6.2.2 Any proceeds of a claim in respect to the insurance policy set out in clause
6.1.3 that are received by the Council or the Lessee shall be applied towards reinstatement, rebuilding, repair or replacement of the Premises.
Requirements for policies. Each policy the Licensees takes out under this clause 7 must:
7.2.1 be with an insurer and on terms reasonably approved by the Council;
7.2.2 be in the name of the Licensees and note the interest of the Council and any other person the Council requires;
7.2.3 note and cover the indemnity provided by the Licensees to the Council pursuant to this Licence;
7.2.4 cover events occurring during the policy’s currency regardless of when claims are made; and
7.2.5 note that despite any similar policies of the Council, the Licensees’ policies will be primary policies.
