Storage and In-Transit Limits Sample Clauses

Storage and In-Transit Limits. Except as otherwise agreed to by Owner and Contractor, sub-limits for losses arising from materials, supplies and equipment in transit or in storage off the Site of the Work shall be $5,000,000.00.
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Storage and In-Transit Limits. Except as otherwise agreed by Owner and Construction Manager, sub-limits for losses arising from materials, supplies and equipment in transit or in storage off the Site of the Work shall be as follows: $2,500,000.00 (each sublimit). All such coverage must be written with insurance companies authorized by the state in which the Project is located to provide such insurance coverage in such state and must be written under either standard forms approved by the Department of Insurance of the State of Arkansas or forms of policies satisfactory to Owner. Owner, in its sole discretion, shall determine whether to purchase coverage for flood perils and the terms of any such coverage. If Construction Manager is required to furnish Builders Risk and is required to add such coverage to its Builders Risk, Owner shall pay such additional premium charge for flood perils coverage by direct payment to Construction Manager’s carrier, outside the Contract Sum and without any mark-up for Construction Manager’s Fee.
Sample 1

Related to Storage and In-Transit Limits

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