Maintenance of Insurance definition

Maintenance of Insurance. Maintain insurance in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower operates and maintain such other insurance and coverages as may be required by the Bank. All such insurance shall be in form and amount and with companies satisfactory to the Bank. With respect to insurance covering properties in which the Bank maintains a security interest or lien, such insurance shall name the Bank as loss payee pursuant to a loss payable endorsement satisfactory to the Bank and shall not be altered or canceled except upon 10 days' prior written notice to the Bank. Upon the Bank's request, the Borrower shall furnish the Bank with the original policy or binder of all such insurance.
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Maintenance of Insurance. Maintain insurance in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower operates and maintain such other insurance and coverages as may be required by the Bank. All such insurance shall be in form and amount and with companies satisfactory to the Bank.
Sample 1Sample 2Sample 3
Maintenance of Insurance. Maintain insurance in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which Borrower owns property. With respect to insurance covering properties in which Lender maintains a security interest or lien, such insurance shall name Lender as loss payee pursuant to a loss payable endorsement satisfactory to Lender and shall not be altered or canceled except upon 30 days' prior written notice to Lender.
Sample 1

Examples of Maintenance of Insurance in a sentence

  • The Seller shall, where damage is caused to the Facility as a consequence of a matter required to be insured under § 20.1 (Maintenance of Insurance), as soon as reasonably practicable notify the Buyer of such damage and such remedial action as the Seller proposes to take.

  • The Loan Parties shall have delivered evidence acceptable to the Administrative Agent that adequate insurance in compliance with Section 8.1.3 [Maintenance of Insurance] is in full force and effect and that all premiums then due thereon have been paid.

  • Maintenance of Insurance..................................................................

  • The Loan Parties shall have delivered a certificate of insurance acceptable to the Administrative Agent that adequate insurance in compliance with Section 7.1.3 [Maintenance of Insurance] is in full force and effect and that all premiums then due thereon have been paid and that the Administrative Agent on behalf of the Banks is entitled to thirty (30) days prior notice of cancellation or material reduction in coverage on all such policies.

  • The following provisions relating to insuring the Property are a part of this Mortgage: Maintenance of Insurance.

  • The Loan Parties shall have delivered evidence acceptable to the Agent that adequate insurance in compliance with Section 7.1.3 [Maintenance of Insurance] is in full force and effect and that all premiums then due thereon have been paid.

  • CONDITIONS PRECEDENT 14 Section 6.1. Conditions to Initial Loan 14 Section 6.2. Conditions to Each Loan 15 SECTION 7 COVENANTS 15 Section 7.1. Maintenance of Property 15 Section 7.2. Taxes 16 Section 7.3. Maintenance of Insurance 16 Section 7.4. Financial Reports 16 Section 7.5. Inspection 18 Section 7.6. Consolidation and Merger 18 Section 7.7. Transactions with Affiliates 18 Section 7.8. Liens 18 Section 7.9. Borrowings and Guaranties 19 Section 7.10.

  • Maintenance of Insurance...........................................................

  • No notice has been given or claim made and no grounds exist to cancel or avoid any of insurance policies of the type described in Section 7.1.3 [Maintenance of Insurance] or to reduce the coverage provided thereby.

  • All insurance policies to which TGI and each of its Subsidiaries is a party are valid and in full force and effect to the extent necessary to comply with Section 8.1.3 [Maintenance of Insurance].


More Definitions of Maintenance of Insurance

Maintenance of Insurance. Maintain insurance in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower operates and maintain such other insurance and coverages as may be reasonably required by the Bank. All such insurance shall be in form and amount and with companies reasonably satisfactory to the Bank.
Sample 1
Maintenance of Insurance. Maintain insurance in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower operates and maintain such other insurance and coverages as may be required by the Bank. All such insurance shall be in form and amount and with companies satisfactory to the Bank, including, but not limited to key-man life insurance in the minimum amount of $8,000,000 on the life of Xxxxxxx X. X'Xxxxx. With respect to insurance covering properties in which the Bank maintains a security interest or lien, such insurance shall name the Bank as loss payee pursuant to a loss payable endorsement satisfactory to the Bank and shall not be altered or canceled except upon 10 days' prior written notice to the Bank. Upon the Bank's request, the Borrower shall furnish the Bank with the original policy or binder of all such insurance.
Sample 1

Related to Maintenance of Insurance

  • Evidence of Insurability means a statement of proof of your medical history upon which acceptance for insurance will be determined by Lincoln.

  • Hazard Insurance A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage naming the Servicer, its successors and assigns, as a mortgagee under a standard mortgagee clause, together with all riders and endorsements thereto.

  • Certificate of Insurance means a document showing that an insurance policy has been written and includes a statement of the coverage of the policy.

  • Maintenance Adder means an adder that may be included to account for variable operation and maintenance expenses in a Market Seller’s Fuel Cost Policy. The Maintenance Adder is calculated in accordance with the applicable provisions of PJM Manual 15, and may only include expenses incurred as a result of electric production.

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

  • Operation and Maintenance or “O&M” shall mean all activities required to operate, maintain, and monitor the effectiveness of the RA as specified in the SOW or any EPA-approved O&M Plan.

  • Surplus lines insurance means insurance in this State of risks located or to be performed in this State, permitted to be placed through a resident licensed broker with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stop‑loss insurance coverage upon group life, accident, and health insurance or upon a self‑insured’s life, accident, and health benefits program may be approved as surplus lines insurance.

  • Health maintenance organization means that term as defined in section 3501 of the insurance code of 1956, 1956 PA 218, MCL 500.3501.

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • contract of insurance means an agreement between the Secretary of Education and either the Trustee or the Seller providing for the insurance by the Secretary of Education of the principal of and accrued interest on a FFELP Loan to the maximum extent permitted under the Higher Education Act.

  • Emergency Maintenance means any period of maintenance for which, due to reasons beyond its reasonable control, Sprint Convergence is unable to provide prior notice of.

  • Major maintenance means the adjustment, repair or replacement of a component or module that could affect the accuracy of a measurement.

  • Deferred Maintenance means improvements necessary for continued operations which do not improve productivity or alter the process technology.

  • Maintenance Requirements shall have the meaning set forth in Clause 14.2;

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Insurance Requirements means, collectively, all provisions of the Insurance Policies, all requirements of the issuer of any of the Insurance Policies and all orders, rules, regulations and any other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) binding upon each Loan Party which is an owner of Mortgaged Property and applicable to the Mortgaged Property or any use or condition thereof.

  • Routine maintenance means actions performed on a regular or controllable basis or in response to uncontrollable events upon a highway, road, street, or bridge. Routine maintenance includes, but is not limited to, 1 or more of the following:

  • maintenance order , in relation to a court, means an order made by a court —

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Maintenance Term means the period of time for which Customer has purchased Maintenance Services, as evidenced by the Purchase Order delivered by Customer in connection therewith, together with all renewals effected in accordance with Section 4 of this Agreement.

  • Required Insurance shall have the meaning provided in Section 9.03.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Maintenance Window means the weekly maintenance windows for the Cloud Service identified in xxxxx://xxxxxxx.xxx.xxx/maintenance-windows. SAP may update the Maintenance Window from time to time in accordance with the Agreement.

  • Evidence of coverage means any certificate, agreement or contract issued to an enrollee setting out the coverage to which the enrollee is entitled.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.