Insurance Covenant definition

Insurance Covenant means all of the covenants and agreements of StadCo with respect to insurance policies and coverages to be maintained by StadCo pursuant to and in accordance with Article 13 of this Agreement.
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Insurance Covenant means all of the covenants and agreements of Tenant with respect to insurance policies and coverages to be maintained by Tenant and its contractors and subcontractors (of any tier) pursuant to and in accordance with this Lease.
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Insurance Covenant. With respect to any loss, liability or damage suffered after the Closing Date resulting from or arising out of the conduct of the Business on or prior to the Closing Date or for which the Asset Seller or any of its affiliates (other than BDPH) (a "Bordxx Xxxured Party") would be entitled to assert, or cause any other person to assert, a claim for recovery under any policy of Insurance underwritten by third parties not affiliated with Bordxx, xx the reasonable request of BDPH and to the extent permitted under such applicable policies of Insurance without the payment of additional premiums in connection therewith, such Bordxx Xxxured Party will assert one or more claims under the policies of Insurance covering such loss, liability or damage if BDPH is not itself entitled to assert such claim, but such Bordxx Xxxured Party is so entitled; provided, however, that all of the Bordxx Xxxured Parties' reasonable out-of-pocket costs and expenses incurred in connection with the foregoing, including without limitation any liability, obligation or expense referred to in the last sentence hereof, are, at the option and in the sole discretion of the entity incurring such costs and expenses, paid in advance of the entity incurring such costs and expenses, or promptly reimbursed by MergerCo and/or BDPH. To the extent required under the terms of the policies of Insurance to give effect to the foregoing, Bordxx xxxl be deemed, solely for the purpose of asserting claims for recovery under such Insurance to have assumed or retained liability for such loss, liability or damage but only to the extent of the policy limits of the applicable policy of Bordxx Xxxurance; provided, however, that (i) BDPH and/or Holding's
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Examples of Insurance Covenant in a sentence

  • Such coverage shall be for a term of five years and shall commence forthwith following the termination of the Executive's employment (the "Medical Insurance Covenant").

  • Each Policy has been placed with an insurance carrier with at least the minimum credit rating required by the Insurance Covenant, except as set forth on Exhibit 3 hereto.

  • It therefore cannot be disputed that by mid November 2010, on the balance of probabilities, Mr Ingram then had full knowledge that he was not entitled to retain control of the Life Policy in Trust, because it is for sole benefit of the Beneficences of that Insurance Covenant in Trust.

  • Mr Allen had a duty to maintain honest conduct and he, in his role as Trustee must also act to preserve the interests of the insolvent party.In any case, any office holder, acting reasonably, would have established that the sum was payable to the beneficiaries upon Mr Young's death and further, that Mr Ingram and Grant Thornton clearly knew of the precise terms of the Zurich Life Insurance Covenant in Trust that could only be payable to those Beneficiaries.

  • It can neither be disputed that the later motives of Mr Ingram are with intent to act against the interests of the Beneficiary of the Insurance Covenant in Trust and it cannot be disputed that those intentions in working to frustrate Mrs Young's position in obtaining the money that is rightfully hers was dishonest and constitutes the offence of fraud where those actions are clearly also against Mrs Young's interests, as majority creditor of the SY Estate.

  • We have placed the insurance which is the subject of this letter after consultation with the Client and based upon the Client's instructions, which may not have contemplated or reflected the Insurance Covenant.

  • Beginning in 2008, the Authority approved an Insurance Covenant to be included in all new bond issues that identified certain requirements borrowers must meet prior to creating and maintaining a captiveinsurance company.

  • In our view, based upon our understanding of the language of the Insurance Covenant, the Policies are consistent with the minimum requirements of the Insurance Covenant.

  • In connection with this letter, we have read Article 16 and Schedule 3 of the Aircraft Lease Agreement between the Client and you dated ____________ ("Agreement"), dealing with insurance requirements, a copy of which is attached (the "Insurance Covenant").

  • We have not read or reviewed the balance of the Agreements, including without limitation any provisions thereof which might relate to or influence the meaning of the language in the Insurance Covenant.

Related to Insurance Covenant

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • Financial Covenant has the meaning specified in Section 7.08.

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • insurance period means a contribution period or an equivalent period;

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.