Sufficient Insurance Sample Clauses
The Sufficient Insurance clause requires a party to maintain adequate insurance coverage to protect against specified risks or liabilities related to the agreement. Typically, this means the party must obtain and keep in force certain types and amounts of insurance, such as general liability or property insurance, as appropriate for the activities or assets involved. This clause ensures that, in the event of loss, damage, or legal claims, there are financial resources available to cover potential costs, thereby reducing the risk of uncompensated losses and providing reassurance to the other party.
POPULAR SAMPLE Copied 6 times
Sufficient Insurance. Within thirty (30) days following the Closing, the Group Companies and the Founders shall cause each of the Schools procure sufficient commercial insurances to the satisfaction of the Investor, including without limitation any third party liability insurance for each school and training centres of Firstleap. As soon as practicable following the Closing, the Group Companies and the Founders shall also make their best efforts to cause each Franchised School to procure such insurances.
Sufficient Insurance. In the event the improvements forming a part of the Common Elements of the Property, or any portion thereof, shall suffer damage or destruction from any cause and the proceeds of any policy or policies insuring against such loss or damage, and payable by reason thereof, shall be sufficient to pay the cost of repair or restoration or reconstruction, then such repair, restoration or reconstruction shall be undertaken and the insurance proceeds shall be applied by the Board or the payee of such insurance proceeds in payment therefore reconstruction shall be performed pursuant to the building plans and Plat recorded with the City of Seneca, Illinois. In the event such repair, restoration or reconstruction is not undertaken, the net proceeds of insurance policies shall be divided by the Board or the payee of such insurance proceeds among all Unit Owners according to each Unit Owner's percentage of ownership in the total Units as set forth in relation to each other by calculation of the common elements set forth in Exhibit C.
Sufficient Insurance. All self-insured Welfare Plans maintained by Cartesian are covered by stop-loss insurance with a retainage by Cartesian which does not exceed $25,000.00 and all insurance premiums to provide coverage under such stop-loss policies through the Closing Date are paid;
Sufficient Insurance. In the event the Improvements, if any, forming a part of the Common Area or any portion thereof shall suffer damage or destruction from any cause or peril insured against and the proceeds of any policy or policies insuring against such loss or damage and payable by reason thereof, shall be sufficient to pay the cost of repair or restoration or reconstruction thereof, such repair, restoration or reconstruction shall be undertaken by the Association and the insurance proceeds shall be applied by the Board in payment thereof.