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Risks to be Insured Sample Clauses

Risks to be InsuredThe Mortgagor will, at its expense, maintain or cause to be maintained with insurance carriers approved by the Mortgagee (a) insurance with respect to the Improvements against loss or damage by fire, lightning and such other risks as are included in standard "all-risk" policies, in amounts sufficient to prevent the Mortgagor and the Mortgagee from becoming a co-insurer of any partial loss under the applicable policies, but in any event in amounts not less than the then full insurable value (actual replacement value) of the Improvements, as determined by the Mortgagor in accordance with generally accepted insurance practice and approved by the Mortgagee or, at the request of the Mortgagee, as determined at the Mortgagor's expense by the insurer or insurers or by an expert approved by the Mortgagee, (b) comprehensive public liability, including bodily injury and product liability and property damage, insurance, with personal injury endorsements, applicable to the Property in such amounts as are customarily carried by Persons operating similar properties in the same general locality, but in any event with a combined single limit of not less than Twenty Million Dollars ($20,000,000) per occurrence, (c) explosion insurance in respect of any steam and pressure boilers and similar apparatus located in the Property in such amounts as are usually carried by persons operating similar properties in the same general locality, but in any event in an amount not less than Twenty Million Dollars ($20,000,000), (d) business interruption insurance (including added expense coverage) against all insurable perils for a period of not fewer than twelve (12) months (subject to a reasonable aggregate deductible not exceeding ten (10) days per any occurrence), (e) worker's compensation insurance to the full extent required by applicable law for all employees of the Mortgagor engaged in any work on or about the Property and employer's liability insurance with a limit of not less than Ten Million Dollars ($10,000,000) for each occurrence, (f) all-risk, builders' risk insurance with respect to the Property during any period during which there is any construction work being performed, against loss or damage by fire or other risks, including vandalism, malicious mischief and sprinkler leakage, as are included in so-called "extended coverage" clauses at the time available and (g) such other insurance with respect to the Property in such amounts and against such insurable hazards as the M...
Risks to be InsuredWith respect to each Property, each Borrower shall procure and maintain continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "A" (or its equivalent) or better by Xxxxxx X. Best Company, Inc., (iii) with a financial size rating of VIII (or its equivalent) or better, by Xxxxxx X. Best Company, Inc., and (iv) otherwise satisfactory to Lender; provided, however, that (1) each insurer of Royale's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that such carrier(s) shall comply with the requirement set forth in clause (ii) above, and (2) as of the Closing Date, the insurers of Royale's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc. and have a financial size rating of "VIII" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that, in the event Royale or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by Lender. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by Lender in its sole discretion. The insurance to be procured and maintained by Royale and its Subsidiaries is the following:
Risks to be Insured. Mortgagor, at Mortgagor's sole cost and expense, will maintain insurance of the following character: (i) All-Risk" Insurance on the Building and other Improvements now existing or hereafter erected on the Land against loss by fire, lightning, extended coverage perils, collapse, water damage, vandalism, malicious mischief and all other risks and contingencies, subject only to such exceptions as the Mortgagee may approve, in an amount equal to the actual replacement cost thereof (exclusive of foundations and excavations) or the outstanding balance of the Indebtedness, whichever is greater, without deduction for physical depreciation, with coverage for demolition and increased costs of construction, and providing coverage in an "agreed amount" or without provisions for co-insurance. While any Building or other Improvement is in the course of being constructed or rebuilt on the Land, the Mortgagor shall provide the aforesaid hazard insurance in builder's risk completed value form, including coverage available on the so-called 'all risk' non-reporting form of policy. (ii) Business interruption or loss of rents insurance in an amount not less than the total amount of principal, interest, taxes and insurance premiums payable hereunder for a period of six (6) months. (iii) If the Land or any part thereof is located in a designated official flood-hazard area, flood insurance insuring the Building and Improvements now existing or hereafter erected on the Land in an amount equal to the actual replacement cost thereof or to the maximum limit of coverage made available with respect to such Building and Improvements under the Flood Insurance Act of 1968, as amended, whichever is less. (iv) Public liability, including personal injury and property damage, insurance applicable to the Mortgaged Property in such amounts as are usually carried by persons operating similar properties in the same general locality but in any event with limits of liability not less than $1,000,000 combined single limit. (v) Appropriate worker's compensation insurance with respect to any work on or about the Mortgaged Property.
Risks to be InsuredThe Mortgagor (or its designee), at the Mortgagor's expense, will obtain and maintain in full force and effect at all times until all Obligations have been fully paid and performed, insurance against the following risks: (i) Loss and damage by fire and all other casualties on or to the Property as are included in the form of casualty insurance commonly referred to as "extended coverage" in such amounts as are reasonably satisfactory to the Mortgagee, but in no event less than one hundred percent (100%) of the full replacement cost of the Property (exclusive of excavation and foundations and without deduction for physical depreciation) and in no event less than the amount required to prevent Mortgagor from becoming a co-insurer within the terms of the applicable policies; (ii) Comprehensive public liability insurance on an "occurrence basis" against claims for personal injury or property damage occurring on, in or about the Property with a combined single limit of not less than $1,000,000 with respect to personal injury or death to one or more persons and with "umbrella" liability coverage of not less than that required by the Senior Loan Documents or the Management Agreement, or such greater amounts as may from time to time be required by institutional lenders for similar loans secured by properties similar to the Property; (iii) Business interruption insurance for an amount not less than one year's profits and necessary continuing expenses from the Property (on an "actual loss sustained" basis) covering the same risks as are covered by the policies described in SECTION 1.7.1(I); (iv) If the Land is located in an area designated by the U.S. Department of Housing and Urban Development as a flood hazard area, insurance for the peril of flood as is available through the National Flood Insurance Program; (v) Broad form boiler and machinery insurance on a "comprehensive" form in an amount adequate to provide protection against the maximum amount of damage possible to the Property resulting from explosion or other covered occurrences relating to boilers, pressure vessels, machinery and equipment on or about the Property; (vi) Workers' compensation insurance in such forms and in such amounts as may be required by the laws of New Jersey; and (vii) Such other insurance as is generally available on commercially reasonable terms and is generally required by institutional lenders on loans secured by properties similar to the Property.
Risks to be Insured. Tenant at its Cost and Expense during the Lease Term will maintain the following insurance for the Leased Premises with reputable insurers authorized to do business in Arizona and rated at least A-IV by A.M. Best Company: i. primary coverage insurance with respect to the Improvements against loss or damage by fire and other risks from time to time in so-called "all risk" form with a sprinkler leakage endorsement insuring the personal property, inventory, trade fixtures, and Alterations within the Leased Premises and the Leased Premises for the full replacement value thereof, as determined from time to time by the insurer, and in any event in an amount sufficient to prevent Landlord from becoming a co-insurer of any such loss or damage; ii. commercial general liability insurance, together with host liquor liability insurance, and together with excess liability insurance coverage, insuring against, liability for personal injury, bodily injury, death and damage to property occurring in or about, or resulting from an occurrence in or about, the Leased Premises with combined single limit coverage on a per occurrence basis of not less than a minimum amount of Five Million Dollars ($5,000,000.00) and an aggregate limit of not less than a minimum amount of Five Million Dollars ($5,000,000.00), which insurance shall contain (1) a "contractual liability" endorsement insuring Tenant's performance of Tenant's obligation to indemnify Landlord for losses related to personal injury, bodily injury, death and damage to property, as contained in Section 17; and (2) a cross liability endorsement;
Risks to be InsuredIn addition to any insurance required to be maintained in accordance with the Credit Agreement, Mortgagor, at its sole cost and expense, will maintain, or cause to be maintained, insurance of the following character: (i) With respect to such part of the Mortgaged Properties which is of an insurable nature and of a character usually insured by persons operating similar properties, insurance against loss or damage by fire and from such other cause customarily insured against. (ii) Comprehensive general liability insurance protecting against claims arising from any accident or occurrence in or upon the Mortgaged Properties in an amount acceptable to Mortgagee.
Risks to be InsuredThe Grantor will, at its expense, maintain or cause to be maintained insurance policies and coverages with respect to the Trust Premises at least as expansive as required by the terms of the Credit Agreement.
Risks to be Insured. Borrower, at its expense, shall maintain with insurers approved by the Bank (a) builder's risk insurance, (b) insurance with respect to any completed Improvements against loss or damage by fire, earthquake, and casualty and against such other risks as are included in coverage of the type now known as extended coverage, in amounts sufficient to prevent Borrower or the Bank from becoming co-insurers under the applicable policies, and in any event in an amount equal to the full replacement value thereof, and in no event less than $6,000,000.00, (c) comprehensive general public liability insurance against claims for personal injury, death or property damage, occurring on, in or about the Mortgaged Property or relating in any way to the Mortgaged Property, with combined, single limits of not less than $1,000,000.00 in respect of any one occurrence, (d) where required by law, appropriate worker's compensation insurance or other insurance against liability arising from the claim of workers in respect of any work on or about the Mortgaged Property and (e) such other insurance with respect to the Mortgaged Property, in such amounts and against such insurable hazards as the Bank from time to time may require in its discretion by written notice to Borrower.
Risks to be Insured. (1) Without limiting his obligation or responsibilities under Clause 25, the Contractor shall, before the commencement of any work under this Contract, in the joint names of the Employer and the Contractor, insure against all damage, losses or injury from whatever cause arising (other than the “excepted risk” as defined in Clause 25.2) for which he is responsible under the terms of the Contract, the Permanent Works, any Temporary Works and all unfixed Plant, materials and goods delivered on or adjacent to the Site for incorporation into the Works (but excluding tools and Construction Equipment owned or hired by the Contractor or any subcontractors) and any structures or other works erected on or adjacent to the Site to the value of not less than the Contract Sum shown in the Letter of Award (plus the percentage stated in the Appendix for professional fees). The Contractor shall keep such Permanent Works, Temporary Works, materials, goods, structures or works so insured until fourteen (14) days after the Date of Substantial Completion (or the latest Date of Substantial Completion if more than one) certified by the Superintending Officer pursuant to Clause 17 and during the Defects Liability Period for damage, losses or injury arising from a cause occurring prior to the commencement of the Defects Liability Period. (2) Such insurance shall be effected with an insurer in terms approved by the Superintending Officer and the Contractor shall deposit with the Superintending Officer before the commencement of any work on Site a copy of the policy or policies of insurance and no later than fourteen
Risks to be Insured. Mortgagors, at their sole cost and expense, shall maintain insurance on the Buildings and other improvements now existing or hereafter erected on the Land and on the Personal Property included in the Mortgaged Property against loss by fire, extended coverage perils and such other hazards as Mortgagee may from time to time require, such insurance to have a "Replacement Cost" endorsement attached thereto, with the amount of the insurance at least equal to the balance of the Obligations. At Mortgagors' option, such policy may have a coinsurance clause of not less than 90% of replacement cost provided the policy contains an appropriate form of cost escalation endorsement. Mortgagors will at their sole cost and expense, from time to time, and at any time at the request of Mortgagee, provide Mortgagee with evidence satisfactory to Mortgagee of the replacement cost of Mortgaged Property. Mortgagors will maintain such other insurance as Mortgagee may reasonably require.