Risk Property Insurance Sample Clauses

Risk Property Insurance. All-risk property insurance on property of every description providing coverage to a limit of not less than the full replacement cost, including earthquake and flood. Such insurance will be written to include replacement cost value. All reasonable deductibles and/or self-insured retentions are the responsibility of the Hospital.
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Risk Property Insurance. Coverage to repair or replace property, including Goods covered by this Contract, of Buyer and/or Buyer’s customer which may be in the possession or control of Seller. Buyer shall be named as a loss payee with respect to loss or damage to said property and/or supplies furnished by Xxxxx. Further, Seller assumes the risk of loss or destruction of or damage to any of its property and its employees’ property, whether owned, hired, rented, borrowed, or otherwise. Seller waives and shall ensure that its employees waive all rights of recovery against Buyer and Xxxxx’s customer and their respective employees for any loss, destruction of or damage to any such property. The required insurance coverage above shall be primary and non-contributing with respect to any other insurance that may be maintained by Buyer and notwithstanding any provision contained herein, the Seller, and its employees, agents, representatives, consultants, subcontractors and suppliers, are not insured by Buyer, and are not covered under any policy of insurance that Buyer has obtained or has in place. Any self-insured retentions, deductibles, and exclusions in coverage in the policies required under this Article shall be assumed by, for the account of, and at the sole risk of Seller or the subcontractor which provides the insurance and to the extent applicable shall be paid by Seller or such subcontractor. In no event shall the liability of Seller or any vendor and/or subcontractor be limited to the extent of any of insurance or the minimum limits required herein. Prior to commencement of any work, and within fifteen (15) days of any policy renewal that occurs while any work is on-going under this Contract, Seller shall provide Buyer certificates of insurance evidencing the insurance policies above, including evidence of additional insured status and waivers of subrogation where required. Buyer reserves the right to refuse to accept policies from companies with an A.M. Best Rating of less than A‒VII. Seller, or its insurers, shall provide thirty (30) days advance written notice to Buyer in the event of cancellation or material modification of any policy. Failure of Buyer to demand such certificates or to identify any deficiency in the insurance provided shall not be construed as or deemed to be a waiver of Seller’s, or its subcontractors’, obligations to maintain the above insurance coverage.
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Risk Property Insurance a. XXXXXXXX agrees to insure the Cargo Building, which includes the Premises, and TENANT, in addition to all other rentals and charges provided for herein, agrees to pay its prorata share of the annual premium cost of said Fire and Extended Coverage Insurance, plus its prorata share of any deductible required to be paid by LANDLORD under its blanket policy which is attributable to the Cargo Building. TENANT's prorata share of the premiums for the cost of the insurance, will be based upon the ratio the square footage of the Premises bears to the total square footage included in the existing Cargo Building. In addition, TENANT’s prorata share of any deductible required to be paid by LANDLORD under its blanket policy which is attributable to the Premises. b. TENANT shall be solely responsible for obtaining insurance policies that provide coverage for losses or damage of TENANT-owned (personal and trade fixtures) property. LANDLORD shall not provide such insurance coverage for TENANT-owned (personal and trade fixtures) property, or be responsible for payment of TENANT’s cost for such insurance.
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Risk Property Insurance. Commencing on the Commercial Operations Date, Seller shall maintain all risk property insurance covering the Facility against physical loss or damage, including, comprehensive boiler and machinery coverage (including electrical malfunction and mechanical breakdown). Deductibles shall not exceed US $1,000,000.00 for a combustion turbine, $750,000.00 for a steam turbine, generator, or heat recovery steam generator, and $250,000,00 for all other losses. As an extension of All Risk Coverage Seller shall maintain Business Interruption insurance in an amount equal to six (6) months projected non-operating cash flow requirements. Such extension may be subject to deductibles not to exceed sixty (60 ) days. Appendix I to PPA
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Related to Risk Property Insurance

  • Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Xxxxxx as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Xxxxxx has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Xxxxxxxx abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Xxxxxxxx does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Xxxxxx may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower’s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.

  • Casualty Insurance The Lessor ☐ The Lessee ☐ The Parties (jointly) shall be responsible for obtaining and maintaining casualty insurance for the Premises for losses against fire.

  • Indemnity Insurance 11.1 Supplier shall indemnify NPML (and its successors and assigns) in respect of all loss, damage, liability or injury whatsoever involving any person or property (including third parties and property) and against any action, claim, demand, damages, cost, charge or expenses (including reasonable legal fees, internal processing costs, rework and remanufacturing costs) arising out of or in connection with NPML’s Purchase Order, to the extent that the same shall have been caused or contributed to by any breach by Supplier of Supplier’s obligations under these terms and conditions or by the negligence or wilful misconduct of Supplier, or its directors, employees or agents, including (without limitation) Supplier’s obligations under clause 19 (Anti-Bribery Certification). Such indemnity shall be in addition to any other remedies afforded by law or contract and shall survive termination of the Purchase Order. 11.2 Supplier shall also hold NPML indemnified from and against all actions, claims, demands, damages, costs, charges and expenses suffered or incurred by NPML in respect of any patents or other intellectual property rights of a third party, which may be infringed (or claimed to be infringed) by the Goods, or services supplied under NPML’s Purchase Order (except infringement resulting from adherence to the Specifications provided to Supplier by NPML). Supplier shall pay all damages, costs, charge, expenses and legal fees incurred by NPML (including without limitation those awarded against NPML in any such suit or proceeding) and, at NPML’s discretion, either (i) at Supplier’s expense, obtain through negotiation the right for NPML to purchase and/or use the Goods; or (ii) rework the Goods so as to make them non-infringing while preserving their original functionality; or (iii) replace the Goods with functionally equivalent non- infringing Goods; or (iv) refund NPML the amounts hereunder. 11.3 Supplier shall maintain insurance cover, at Supplier’s expense, acceptable to NPML in respect of: (a) such liabilities as are envisaged in clause 11.1; (b) liability under law for any person employed by the Supplier in or about the performance of the Supplier’s obligations hereunder, including for workers compensation, work cover or similar liabilities of Supplier (who shall be liable to its employees for such matters even if they undertake performance of services or delivery of Goods on or about NPML’s property or premises); (c) any liability it may have to NPML arising out of the transportation and delivery of the Goods; and (d) where the Supplier has design obligations, professional indemnity insurance of an amount stated in the Purchase Order for the duration of the Supplier’s performance of its obligations and thereafter for a period of 6 years, and shall provide to NPML on request valid certificates of insurance in respect thereof. Such insurance policies shall name NPML as an additional insured and shall waive any rights of subrogation against NPML. The insurance policies shall in no way define or limit the obligation of Supplier in the event of loss.

  • OWNER’S LIABILITY INSURANCE The Owner shall be responsible for purchasing and maintaining the Owner’s usual liability insurance.

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