Insurance Covenants definition

Insurance Covenants has the meaning ascribed thereto in the Employment Agreements.
Sample 1Sample 2
Insurance Covenants means the covenants of Borrower under Section 6.02.
Sample 1
Insurance Covenants. Lessee shall: (a) ensure that all legal requirements as to insurance of the Aircraft, any Engine or any Part which may from time to time be imposed by the laws of the State of Registration, Habitual Base or any country to, from or over which the Aircraft may be flown, insofar as they affect or concern the operation of the Aircraft, are complied with and in particular those requirements compliance with which is necessary to ensure that (i) the Aircraft is not in danger of detention or forfeiture, (ii) the Insurances remain valid and in full force and effect, and (iii) the interest of the Indemnitees in the Insurances and the Aircraft or any Part are not prejudiced thereby; (b) not use, cause or permit the Aircraft, any Engine or any Part to be used for any purpose or in any manner not covered by the Insurances or outside any geographical limit imposed by the Insurances or in any recognized or threatened area of hostilities; (c) comply with the terms and conditions of each policy of insurance and not do, consent or agree to any act or omission which invalidates or may invalidate the Insurances, or renders or may render void or voidable the whole or any part of any of the Insurances, or brings any particular liability within the scope of an exclusion or exception to the Insurances; (d) not take out, without the prior written approval of Lessor, any insurance or reinsurance in respect of the Aircraft other than those required under this Lease unless relating solely to hull total loss, business interruption, profit commission and deductible risk; (e) furnish to Lessor on or before Delivery and thereafter at least thirty (30) days prior to each renewal date (i) a certificate as to the provisions of the Insurances signed by Xxxxxx’s insurance brokers and (ii) an undertaking acceptable to Lessor signed by the said insurance brokers and shall procure that Lessor receives such information relating to the Insurances as Lessor reasonably requests; (f) not make any amendments to the Insurances without Lessor’s prior written consent; and (g) be responsible for any deductible. 5.4 Change: If Lessor wishes to revoke its approval of any insurer, reinsurer, insurance or reinsurance at the time of any policy expiration or renewal date, Lessor and/or its brokers will consult with Lessee and Xxxxxx’s brokers (as for the time being approved by Lessor) at least 45 days in advance of such expiration or renewal date regarding whether that approval should be revoked to protect the ...
Sample 1

Examples of Insurance Covenants in a sentence

  • With the exclusion of all Enabling Work which is performed pursuant to the Enabling Work Agreement, StadCo shall not do or permit others to do any Project Improvements Work unless and until (i) StadCo shall have first procured and paid for applicable permits, licenses, and approvals then required under Applicable Law to commence the specific work being performed and (ii) StadCo has complied with the Insurance Covenants.

  • Group life provides access to cover, ease of cover and efficient delivery of benefits as a proportion of premium when compared with other models of distribution.Industry Super Funds provide improved value for money cover by not paying commissions and charging only the cost to provide the benefit to members.Section 52(7) of the SIS Act sets out a range of Insurance Covenants that must be observed by Registrable Superannuation Entities.

  • The Borrower undertakes to the Lender at all times to comply and to procure compliance with the insurance covenants set out in schedule 6 (Insurance Covenants).

  • IFC shall notify the Borrowers of any proposed modification under 5.05 (m) to the requirements of this Section 5.05 (Insurance Covenants) which IFC, may reasonably consider appropriate in the circumstances and, after consultation and taking full account of the Borrowers' opinions, such modification shall take effect on and from the date it is notified in writing to the Borrowers as an amendment to this Section 5.05 (Insurance Covenants) and shall bind the Borrowers accordingly.

  • Changes in non-cash operating working capital during the years ended September 30, 2019 and September 30, 2018 were comprised of the following:September 30, September 30, During the years ended September 30, 2019 and September 30, 2018 there were no amounts paid on account of interest or income taxes.

  • That is because I unabashedly believe that the good news of Jesus Christ is the most important doctrine of them all.

  • Landlord’s Insurance Covenants................................................................................

  • IFC shall notify the Borrower of any proposed modification under 5.05 (m) to the requirements of this Section 5.05 (Insurance Covenants) which IFC, may reasonably consider appropriate in the circumstances and, after consultation and taking full account of the Borrower's opinions, such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Section 5.05 (Insurance Covenants) and shall bind the Borrower accordingly.

  • In anticipation of replacing their current commercial coverage with a captive insurance company, CentraState is requesting the Authority’s approval to amend both of their Series 1998 Bonds, 2006A Bonds and 2010 Capital Asset Program Loan Insurance Covenants.

  • Therefore, Staff requested that Members approve CentraState’s Resolution and Amendment to amend their existing Insurance Covenants so that they reflect the Authority’s current insurance requirements.Mr. Conroy asked if there had been a review to assure that there would be no adverse impact on all of the original parties.

Related to Insurance Covenants

  • 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;

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Incurrence Covenant means a covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

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

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

  • Financial Covenant has the meaning specified in Section 7.08.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Creditable coverage means, with respect to an individual, coverage of the individual provided under any of the following:

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

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Insurance Requirements means all terms of any insurance policy required by this Agreement and all requirements of the issuer of any such policy and all orders, rules and regulations and any other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) binding upon Landlord, Tenant or the Leased Property.

  • Period of Insurance means the period commencing from the retroactive date and terminating on the expiry date as shown in the Policy Schedule.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Insurance Consultant or "consultant" means a person who: