Builder’s Risk Insurance means extended coverage insurance against loss or damage by fire, lightning, wind storm, hail, explosion, riot, vandalism, malicious mischief, riot attending a strike, civil commotion, aircraft, vehicles, smoke and other risks from time to time included under “extended coverage” policies, in an amount equal to 100% of the full replacement value of the Improvements.
Builder’s Risk Insurance shall have the meaning ascribed to it in Section 12.01 of this Agreement.
Builder’s Risk Insurance. Subcontractor shall insure (through an Installation Floater form policy), secure and protect their work and materials while in transit to jobsite, or in storage, from damages until final acceptance by Sabal Homes. All deductibles shall be the responsibility of Subcontractor. Subcontractor waives any rights of subrogation as pertains to the proceeds of any Builders' Risk insurance policy carried by Sabal Homes. Sabal Homes LLC
Examples of Builder’s Risk Insurance in a sentence
The Builder’s Risk Insurance shall be for the benefit of the Contractor and the PHA as their interests may appear and each shall be named in the policy or policies as an insured.
The Builder’s Risk Insurance need not be carried on excavations, piers, footings, or foundations until such time as work on the superstructure is started.
The Contractor is not required to carry Builder’s Risk Insurance for modernization work which does not involve structural alterations or additions and where the PHA’s existing fire and extended coverage policy can be endorsed to include such work.
The Builder’s Risk Insurance need not be carried on excavations, piers, footings, or foundations until such time as work on the super- structure is started.
The Contractor is not required to carry Builder’s Risk Insurance for modernization work which does not involve structural alterations or additions and where the PHA’s existing fire and extended coverage policy can be endorsed to include such work.conditions of this contract insofar as they are applicable to the work of subcontractors.(e) Nothing contained in this contract shall create any contractual relationship between any subcontractor and the PHA or between the subcontractor and HUD.
More Definitions of Builder’s Risk Insurance
Builder’s Risk Insurance means such part of the insurances effected by the Temporary Confirmation of Insurances which relates to the Rig during the period up to the time of delivery to the Borrower in accordance with the Rig Construction Contract;
Builder’s Risk Insurance shall have the meaning ascribed thereto in Section 5.1.5 hereof.
Builder’s Risk Insurance. In an amount equal to 100% of the amount of the Contract. [ ] [ ] [ ] [ ] [ ] The apparent successful Vendor shall also furnish proof of any additional insurance requirements contained in the specifications prior to Contract award regardless of whether or not that insurance requirement is listed above. [ ] LICENSE(S) / CERTIFICATIONS / PERMITS: In addition to anything required under the Section entitled Licensing, of the General Terms and Conditions, the apparent successful Vendor shall furnish proof of the following licenses, certifications, and/or permits prior to Contract award, in a form acceptable to the Agency. [ ] [ ] [ ] [ ] The apparent successful Vendor shall also furnish proof of any additional licenses or certifications contained in the specifications prior to Contract award regardless of whether or not that requirement is listed above.
Builder’s Risk Insurance. A builder's risk insurance policy on an "all risk" basis including coverage for the perils of earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, boiler, turbine and machinery accidents. Such insurance shall be on a completed value form, with no periodic reporting requirements, with a limit equal to $264,000,000 and providing coverage for (i) the buildings, structures, boilers, machinery, equipment, facilities, fixtures, supplies, fuel, pipelines, transmission lines and other properties constituting a part of the Project, (ii) off-site storage with sub-limits sufficient to insure the full replacement value of any property or equipment not stored on the Site, (iii) removal of debris with a sub-limit not less than $5,000,000, (iv) pollution, clean up and removal for a sub-limit not less than $500,000, (v) foundations and other property below the surface of the ground, (vi) electronic equipment and media, (vii) value losses at replacement cost including custom duties, taxes and fees, (viii) ground and inland waterway transit of key equipment on a "warehouse to warehouse" basis from the manufacturer or supplier to the Site with limits sufficient to insure the value of the largest single shipment but in no case less than $25,000,000, (ix) unintentional errors and omissions, (x) all operational and performance testing for a period not less than 60 days and (xi) existing property for a limit not less than $5,000,000. The earth movement and flood coverage shall not have a sub-limit. The deductible for all such insurance shall not exceed (A) $250,000 per occurrence for operational testing coverage and (B) $100,000 per occurrence for all other coverage. The builder's risk coverage shall not contain an exclusion for freezing, mechanical breakdown, or resultant damage caused by faulty workmanship, design or materials. Coverage shall remain in effect for the Project as a whole until replaced by physical damage insurance insuring the entire Project as specified in Section (B)(2)(a) hereof. The physical damage insurance (specified in Section (B)(2)(a)) may insure part of the Project while the builder's risk insurance is in place only if the same insurer is used for both policies that provide these coverages. The builder's risk coverage shall not be subject to cancellation except for non-payment of premium (after prior notice) and shall include a 50/50 clause. If the insurance company providing the physical damage ...
Builder’s Risk Insurance. A Builder's Risk and Boiler and Machinery Coverage will be obtained by OWNER to cover the project. Any payment under Builder's Risk or Boiler and Machinery Coverages will be made jointly to OWNER and CONTRACTOR. Further, OWNER and CONTRACTOR agree that any payment under Builder's Risk or Boiler and Machinery Coverages will be placed into a joint account until such funds are reinvested in the construction project.
Builder’s Risk Insurance has the meaning provided in section 22.5(a);
Builder’s Risk Insurance means the insurance that will be initiated and administered by Judicial Council to provide coverage during Design Build Entity’s performance of Construction Work during the Project. The Builder’s Risk Insurance coverage applicable to the Project is included in the Performance Criteria Documents and is incorporated by reference into these General Conditions. It is a separate policy as part of the Owner-Controlled Insurance Program.