UTS Insurance Sample Clauses

UTS Insurance. (a) During the Term, UTS shall be responsible for obtaining and maintaining appropriate insurance coverage for its operations, at its own expense, including comprehensive general liability and licensee’s legal liability insurance for bodily injury, personal injury, death and damage to property of third parties, and blanket contractual liability, owners and contractors protective liability, non-owned automobile and employers liability insurance, in each case with the University as an additional insured. Such policy or policies shall be written with a limit of not less than $20,000,000.00 per occurrence, shall be primary and non-contributing with and not in excess of any other insurance obtained by the University, and shall include severability of interests and cross-liability clauses. At the University’s request, UTS shall provide the University with copies of the certificates of insurance. (b) The University, acting reasonably, shall have the right for a period of sixty (60) days following the end of each five-year period during the term of this Agreement following the Effective Date, to give Notice to UTS requiring the amount of the said liability insurance to be increased. The amount of such increase shall be an amount consistent with the then current standards of liability insurance coverage with respect to the operation of similar educational institutions. On the giving of such Notice, UTS shall increase the coverage under its liability insurance policy accordingly and shall deliver to the University, within sixty (60) Business Days of such Notice, a certificate of insurance reflecting the increased coverage under its liability insurance policy. (c) The insurance obtained by UTS hereunder shall be without duplication to any insurance required to be obtained pursuant to the 2006 Real Property Licence Agreement, the 2015 Real Property Licence Agreement and/or the Project Agreement.
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UTS Insurance. [NTD: Notwithstanding draft language below, all aspects of insurance to be settled between the parties prior to placement on Governing Council agenda.] 14.01 UTS shall take out and at all times during the Term of this Licence keep in force, in the name of the University (as additional insured and loss payee, as its interest may appear) at UTS expense, as would a prudent owner of the New Building and containing the usual and customary clauses in insurance policies of such type as shall be reasonably agreed upon between the University and UTS prior to the Occupancy Date (the “Insurance Requirements”). Once jointly approved by the University and UTS, the Insurance Requirements shall be attached to this Licence as Exhibit 2 and form part of this Licence, and may only thereafter be amended by written agreement of UTS and the University. If the parties have not jointly approved the Insurance Requirements within 30 days after UTS Construction Document Completion, the matter shall be settled in accordance with Article 7 of this Licence.
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UTS Insurance. 14.01 UTS shall take out and at all times during the Term keep in force, in the name of the University (as additional insured and as loss payee, as its interest may appear) at its own expense, as would a prudent owner of the New Building and containing the usual clauses in insurance policies of such type as shall be reasonably agreed upon between the University and UTS, the following insurance: (a) insurance against all risks upon property of every description and kind owned by UTS, or for which UTS is legally liable, or installed by or on behalf of UTS and which is located within the Property and the Licensed Premises including, without limitation, extra expense coverage, stock-in- trade, furniture, fittings, installations, alterations, additions, partitions, fixtures and any other improvement in an amount of not less than one hundred percent (100%) of the full replacement cost thereof, with standard extended coverage including sprinkler leakages (where applicable), earthquake, flood and collapse; (b) comprehensive general liability and licensee's legal liability insurance for bodily injury or death and damage to property of others including blanket contractual liability, owners and contractors protective liability, and non- owned automobile and employers liability and licensee’s legal liability insurance coverage. Such policy shall be written with a limit of not less than Twenty Million Dollars ($20,000,000.00) for any one accident or occurrence; and (c) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for each accident in an amount of at least the replacement cost of all improvements and of all boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus owned or operated by UTS or by others (except for the University) on behalf of UTS in the Licensed Premises, or relating to, or serving the Licensed Premises. Such policy or policies shall be primary and non-contributing with, and not in excess of, any other insurance obtained by the University, and shall include severability of interests and cross liability clauses. At the University’s request, UTS shall provide the University with copies of the certificates of insurance.
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Related to UTS Insurance

  • Tenant’s Insurance Tenant shall maintain the following coverages in the following amounts.

  • Renter’s Insurance (check one)

  • Business Insurance The Transaction Entities and their respective subsidiaries carry or are entitled to the benefits of insurance, with financially sound and reputable insurers, in such amounts and covering such risks as is generally maintained by companies of established repute engaged in the same or similar business, and all such insurance is in full force and effect. Neither of the Transaction Entities has any reason to believe that it or any of their respective subsidiaries will not be able to (A) renew, if desired, its existing insurance coverage as and when such policies expire or (B) obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not reasonably be expected to, singly or in the aggregate, result in a Material Adverse Effect.

  • Umbrella Insurance During the term of this Contract, Supplier will maintain umbrella coverage over Employer’s Liability, Commercial General Liability, and Commercial Automobile. Minimum Limits: $2,000,000

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Owner’s Insurance Owner agrees to carry public liability, elevator liability and contractual liability insurance (specifically insuring the indemnity provisions contained in Section 10.1 above), and such other insurance as the parties agree to be necessary or desirable for the protection of the interests of Owner and Manager, which may be provided through an umbrella policy. In each such policy of insurance, Owner shall designate Manager as a party insured with Owner and the carrier and the amount of coverage in each policy shall be mutually agreed upon by Owner and Manager. A certificate of each policy issued by the carrier shall be delivered promptly to Manager by Owner. All policies shall provide for 30 days' written notice to Manager and Owner prior to cancellation, non-renewal or material amendment.

  • Excess Insurance All policies providing excess coverage to City shall follow the form of the primary policy or policies including but not limited to all endorsements.

  • Lessee’s Insurance Lessee shall procure and maintain policies of insurance, at its own cost and expense, insuring: (a) The Lessor Protected Parties (as "named insureds"), and the First Mortgagee, and Lessee Protected Parties, from all claims, demands or actions made by or on behalf of any person or persons, firm or corporation and arising from, related to or connected with the leased premises, for bodily injury to or personal injury to or death of any person, or more than one (1) person, or for damage to property in an amount of not less than $2,000,000.00 combined single limit per occurrence/aggregate. Said insurance shall be written on an "occurrence" basis and not on a "claims made" basis. If at any time during the term of this Lease, Lessee owns or rents more than one location, the policy shall provide that the aggregate limit in the policy shall apply separately to each location owned or rented by Lessee. Lessor shall have the right, exercisable by giving written notice thereof to Lessee, to require Lessee to increase such limit if, in Lessor's reasonable judgment, the amount thereof is insufficient to protect the Lessor Protected Parties and Lessee Protected Parties from judgments which might result from such claims, demands or actions; (b) The Improvements at any time situated upon the leased premises ("Improvements") against loss or damage by fire, lightning, wind, storm, hail storm, aircraft, vehicles, smoke, explosion, sewer back-up, riot or civil commotion as provided by the Standard Fire and Extended Coverage Policy and all other risks of direct physical loss as insured against under Special Form ('all risk" coverage). Such coverage shall be provided under the blanket policy maintained by Lessee. The insurance coverage shall be for not less than 100% of the full replacement cost of such Improvements and will include building ordinance coverage to include demolition and increased loss of construction, which building ordinance coverage endorsement shall be in an amount as Lessor shall reasonably require, all subject only to such deductibles as Lessor shall reasonably approve in writing. If, in Lessor's reasonable judgment, the amount thereof is insufficient to protect the Improvements, by an agreed amount endorsement covering the Improvements, the full replacement cost of the Improvements shall be designated annually by Lessor, in the good faith exercise of Lessor's judgment. In the event that Lessee does not agree with Lessor's designation, Lessee shall have the right to submit the matter to an insurance appraiser reasonably selected by Lessor and paid for by Lessee. The insurance appraiser shall submit a written report of his appraisal and if said report discloses that the 7 Improvements are not insured as therein required, Lessee shall promptly obtain the insurance required. Lessor shall be named as an additional insured and Lessee shall direct its insurer to pay all proceeds for loss or damage to the Improvements only to Lessor. Said insurance shall contain a policy provision waiving the insurer's right of subrogation against any Lessor Protected Party or any Lessee Protected party, provided that such waiver of the right of subrogation shall not be operative in any case where the effect thereof is to invalidate such insurance coverage or increase the cost thereof (except that either party shall have the right, within thirty (30) days following written notice, to pay such increased cost, thereby keeping such waiver in full force and effect); (c) Lessor's business income, protecting Lessor from loss of rents and other charges during the period while the leased premises are unleaseable due to fire or other casualty (for a twelve (12) month period);

  • Commercial General Liability Insurance Policy Provide a Commercial General Liability Insurance Policy, including contractual liability, in adequate quantity to protect against legal liability arising out of contract activity but no less than $1,000,000 per occurrence. Additionally, the CONTRACTOR is responsible for ensuring that any subcontractors provide adequate insurance coverage for the activities arising out of subcontracts.

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