Common use of Self-Insured Retentions Clause in Contracts

Self-Insured Retentions. Self-insured retentions must be declared to and approved by the LESSOR. At the option of the LESSOR, the LESSEE shall provide coverage to reduce or eliminate such self-insured retentions as respects the LESSOR, its officers, officials, employees, and volunteers; or the LESSEE shall provide evidence satisfactory to the LESSOR guaranteeing payment of losses and related investigations, claim administration, and defense expenses. The policy language shall provide, or be endorsed to provide, that the self-insured retention may be satisfied by either the named insured or LESSOR.

Self-Insured Retentions. Self-insured retentions must be declared to and approved by the LESSORLessor. At the option of the LESSORLessor, either: the LESSEE Lessee shall provide obtain coverage to reduce or eliminate such self-insured retentions as respects the LESSORLessor, its officers, officials, employees, and volunteers; or the LESSEE Lessee shall provide evidence a financial guarantee satisfactory to the LESSOR Lessor guaranteeing payment of losses and related investigations, claim administration, and defense expenses. The policy language shall provide, or be endorsed to provide, that the self-self- insured retention may be satisfied by either the named insured or LESSORLessor.