Town’s Insurance. During the term of this Agreement, Town will maintain Commercial General Liability Insurance with minimum limits of $2,000,000; personal property insurance covering all of Town’s equipment, fixtures, and personal property in, on, or upon the Premises; Commercial Automobile Liability Insurance with minimum limits of $2,000,000; and Workers Compensation coverage with statutory limits.
Town’s Insurance. The Town shall maintain such insurance including commercial general liability insurance with respect to the operation of the Licensed Premises covering bodily injury, death and damage to property of others.
Town’s Insurance. The Town shall maintain insurance on the structure, as well as such liability insurance for the Licensed Premises as the Town, in its sole discretion, feels is necessary. For the purposes hereof, the Town shall provide such documentation and information to the Licensee respecting such coverage as requested from time to time. The Town may, at its sole discretion and in lieu of some or all of the coverage required by Article 12.1, include the Licensee in relation to its occupation of the Licensed Premises as an additional named insured under the Town's liability policies of insurance. Inclusion of the Licensee shall be subject to the additional of such insurance costs to the Licensee's operating costs, or such other cost arrangement as the Town and the Licensee may agree upon in writing. The Licensee acknowledges and agrees that any equipment or other personal property not owned by the Town shall not be covered under any of the Town's policies of insurance, and consequently shall be at the sole risk of the Licensee and the Licensee's own coverage under Article 12.1 of this Agreement
Town’s Insurance. (a) From and after the time of substantial completion of the Facility, the Town shall, at its own expense, acquire, carry and maintain broad- form extended coverage property damage insurance with respect to all improvements in or on the Site or otherwise related to the Facility in an amount equal to the estimated replacement cost of those improvements. This property damage insurance shall include standard mortgagee coverage in favor of Truist. The Town shall provide evidence of such coverage to Truist, upon Xxxxxx’s request, promptly upon substantial completion. Any Net Proceeds of the insurance required by this subsection (a) shall be payable as provided in Section 6.09.
(b) To the extent permitted by law, the Town promises that from and after the Closing Date the Town shall, at its own expense, acquire, carry and maintain comprehensive general liability insurance in accordance with State statute or as customarily held by similar entities in the State.
(c) If the property (building) secured by this Agreement has been determined to be in a “Special Flood Hazard” area, as defined by Truist’s flood determination vendor, the Town, at its own expense, must acquire, carry, and maintain an adequate policy for flood insurance for the life of the loan in compliance with the Flood Disaster Protection Act of 1973 (Federal law). If at any time during the term of this Agreement, such portion of the Mortgaged Property is classified by FEMA as being located in a special flood hazard area, flood insurance will be mandatory. Should Truist become aware of such an event, federal law requires Truist to notify the Town of the reclassification. If, within forty-five days of receipt of notification from Truist that any portion of the Mortgaged Property has been reclassified by the FEMA as being located in a special flood hazard area, the Town has not provided sufficient evidence of flood insurance, Truist is mandated under federal law to purchase flood insurance on behalf of the Town.
(d) The Town shall maintain all this insurance with generally recognized responsible insurers in accordance with State law. The policies may carry reasonable deductible or risk-retention amounts.
(e) Truist is not responsible for the sufficiency or adequacy of any required insurance and shall be fully protected in accepting payment on account of such insurance or any adjustment, compromise or settlement of any loss agreed to by Truist.
(f) Upon Xxxxxx’s request, the Town shall deliver to Truist a ...
Town’s Insurance. The Town acknowledges and agrees that throughout the Term, it shall maintain in full force and effect the following insurance with respect to the Building: (a) “all risks” property insurance, on a full replacement cost basis, with respect to the Building; (b) boiler and machinery insurance, on a full replacement cost basis, with respect to all pressure vessels, boilers, machinery and equipment in or servicing the Building; and (c) comprehensive general liability insurance for bodily injury (including death) and property damage, in the amount of at least Ten Million Dollars ($10,000,000) per occurrence, which policy shall name HDGH as an Additional Insured, and contain cross liability and severability of interests clauses. The Town shall provide HDGH with a certificate evidencing such insurance, containing an undertaking by the Town’s insurers to provide HDGH with a minimum of thirty (30) days’ notice in the event of any material change, cancellation or termination of such policies.
