Xxxxxxxce. Except as set forth in Section 4.15 of the EUA Disclosure Letter, each of EUA and its Subsidiaries is, and has been continuously since January 1, 1994, insured with financially responsible insurers in such amounts and against such risks and losses as are customary in all material respects for companies in the United States conducting the business conducted by EUA and its Subsidiaries during such time period. Except as set forth in Section 4.15 of the EUA Disclosure Letter, neither EUA nor any of its Subsidiaries has received any notice of cancellation or termination with respect to any material insurance policy of EUA or any of its Subsidiaries. The insurance policies of EUA and each of its Subsidiaries are valid and enforceable policies.
Xxxxxxxce. Design-Xxxxxxx xxxxx procure and maintain in force through the Final Completion Date the following insurance coverages with the policy limits indicated, and otherwise in compliance with the provisions of this Agreement: Commercial General Liability: General Aggregate Products-Comp/Op AGG $ 2,000,000 Personal & Adv Injury $ 1,000,000 Each Occurrence $ 1,000,000 Fire Damage (Any one fire) $ 50,000 Med Exp (Any one person) $ 5,000 Automobile Liability: Combined Single Limit Each Occurrence $ 1,000,000 Excess Liability — Umbrella Form: Each Occurrence $ 20,000,000 Aggregate $ 20,000,000 Workers’ Compensation Statutory limits as required by the state in which the Work is performed. Employers’ Liability: Each Accident $ 1,000,000 Disease — Policy Limit $ 1,000,000 Disease — Each Employee $ 1,000,000 Professional Errors and Omissions Per Claim $ 5,000,000 Annual $ 5,000,000
Xxxxxxxce. Xxxxxxle 4.16 to the Disclosure Schedule hereto sets forth an accurate list, as of the date of this Agreement, of all insurance policies carried by Stokes Ellis and Stokes and all insurance loss runs or workmen's comxxxxxxxxx xxaims xxxxxxed for the past two (2) policy years, if any. Attached to Schedule 4.16 to the Disclosure Schedule are true, complete and correct copies of the summaries or declaration pages from the insurance companies of all applicable policies, all of which are in full force and effect. All premiums payable under all such policies have been paid and Stokes Ellis and Stokes are, to Lewis' Knowledge, otherwise in full xxxxxxxxxx xith txx xxxms of sucx xxxicies (or other policies providing substantially similar coverage). There is no threatened termination or rescission of, or material premium increase with respect to, any such policies.
Xxxxxxxce. Seller has in full force and effect insurance of the type and in the amounts set forth in Schedule 2.
Xxxxxxxce. Maintain casualty insurance, public liability insurance, workers compensation insurance and such other insurance as Bank may require with respect to the operations of Borrower, the Hotel Owners and TRS Leasing and with respect to the Hotels and other Collateral, in form, amounts and coverages and with insurance companies acceptable to Bank. Borrower will, upon request of Bank, deliver to Bank from time to time the policies of insurance, or at Banks' election, certificates of insurance, in form satisfactory to Bank. The policies of insurance shall provide that they may not be cancelled or diminished without at least thirty (30) days prior notice to Bank. Each insurance policy shall contain an endorsement providing that coverage in favor of Bank will not be impaired in any way by any act, omission or default by Borrower, or by any other person. For those policies of insurance covering any of the Collateral, Borrower will provide Bank with such loss payable endorsements or other endorsement as Bank may require. Bank may require that Borrower obtain an independent appraisal of the Collateral to determine the actual cash value or replacement cost of the Collateral for insurance purposes.
