Relevant Insurance definition
Examples of Relevant Insurance in a sentence
If the Government exercises such option in accordance with Clause 10.7 (Exercise of Termination Option), then in accordance with the provisions of this Clause 11 (Early Termination Purchase Price and Procedure), the Project Property should be valued at the "Project Company Default Purchase Price", which equals to: Outstanding Debt; plus Termination Costs; minus Outstanding Shareholder Commitments; minus Relevant Insurance Proceeds.
The Borrower fails to procure and maintain the Relevant Insurance Policies on its assets in accordance with this Agreement.
Seller agrees to maintain in full force and effect the Relevant Insurance Policies at Seller's sole cost and expense for a period of at least three (3) years after the Closing Date.
If any of the Relevant Insurance Policies are cancelled or expire prior to that time, then Seller agrees to secure, at its sole cost and expense, appropriate replacement coverage with policy limits, deductibles and maximums which are no less favorable than those currently existing under the Relevant Insurance Policies.
Receipt of notice of termination or cancellation of any Relevant Insurance Policies or reduction of coverages or amounts thereunder shall entitle the Lenders to renew any such policies, cause the coverages and amounts thereof to be maintained at levels required pursuant to the first sentence of this Section 8.05 or otherwise to obtain similar insurance in place of such policies, in each case at the expense of Borrower.