Required Property Insurance Coverage definition

Required Property Insurance Coverage means at all times, to provide, maintain and keep in force the following policies of insurance:

Required Property Insurance Coverage means at any time insurance coverage evidenced on Acord 27 and maintained with generally recognized, responsible insurance companies qualified to do business in the State in the amount of (i) the then full replacement value of the Project and Property, insuring the Project against loss or damage by fire, windstorm, tornado and hail and extended coverage risks on a comprehensive all risk/special form insurance policy and containing loss deductible provisions of not to exceed $10,000, which insurance coverage shall name the Investor as loss payee/mortgagee.

Required Property Insurance Coverage means at any time insurance insuring all Property of the Borrower and its Subsidiaries against loss or damage by fire, lightning, vandalism and malicious mischief and all other perils covered by standard “extended coverage” or “all-risk” insurance and such other risks and losses as is consistent with sound business practices and is customarily maintained from time to time by similar businesses similarly situated and owning, leasing or operating similar properties, including, without limitation, war and terrorism coverage with respect to all jet aircraft; all in such amounts, and having such deductibles from the loss payable for any casualty, as is customary from time to time for similar businesses similarly situated and owning, leasing or operating similar properties. If any insurance policies with respect to Required Property Insurance Coverage is written on a co-insurance basis, such policy must contain an agreed amount endorsement as evidence that the coverage is in an amount sufficient to insure the full amount of such Property.

Examples of Required Property Insurance Coverage in a sentence

• In connection with the repair or restoration of the Project Facilities pursuant to Section 7.1 hereof, Net Proceeds of Required Property Insurance Coverage not in excess of $500,000 (increased on each January 1 by ten percent for each ten percent increase in the Consumer Price Index Increase not theretofore the subject of such increase) shall be paid to the Lessee for application of as much as may be necessary for such repair and restoration.

• The Lessee shall keep the Project Facilities continuously insured in the amount and with the coverage of the Required Property Insurance Coverage and shall keep and maintain, with respect to the Project, Required Public Liability Insurance Coverage, provided, that through the Completion Date, the Lessee shall provide all-risk builders risk insurance covering the then insurable value of the Project.

• The Lessee shall keep the Project Facilities continuously insured in the amount and with the coverage of the Required Property Insurance Coverage and shall keep and maintain, with respect to the Project, Required Public Liability Insurance Coverage.

• Instead it should be based on a spirit of cooperation, after creating an environment of trust and confidence (Swaraj 2016).

• The Borrower will, and will cause each of its Subsidiaries to, maintain with financially sound and reputable insurance companies the Required Property Insurance Coverage and Required Public Liability Insurance Coverage, and the Borrower will furnish to the Administrative Agent upon request full information as to the insurance carried.

More Definitions of Required Property Insurance Coverage

Required Property Insurance Coverage means at any time insurance in the amount of (i) the then full insurable value of the Project Facilities or (ii) the then total unpaid principal amount of the Project Debt then outstanding, whichever is greater, provided that the coverage shall not be less than an amount that would result in coinsurance, insuring the Project Facilities against loss or damage by fire and extended coverage risks and containing loss deductible provisions of not to exceed $500,000; provided that the amounts of such deductible may be increased on each January 1 by the Consumer Price Index Increase to the extent that such Consumer Price Index Increase had not previously been utilized to increase such deductible.

Required Property Insurance Coverage means at any time insurance coverage evidenced maintained with generally recognized, responsible insurance companies qualified to do business in the State in the amount of the then full replacement value of the Project and Property, insuring the Project against loss or damage by fire, windstorm, tornado and hail and extended coverage risks on a comprehensive all risk/special form insurance policy and containing loss deductible provisions of not to exceed $10,000, which insurance coverage shall name the Investor as loss payee/mortgagee.

Required Property Insurance Coverage means (i) insurance in the amount not less than 80% of the as-completed appraised value of the Development following completion of the Series 2023B Project against loss or damage by fire and extended coverage risks and containing loss deductible provisions not to exceed $50,000, or (ii) alternative arrangements for insurance or self-insurance approved by the Issuer.

Required Property Insurance Coverage means insurance insuring the Project Facilities against loss or damage by causes of loss typically insured under coverage forms referred to as “all risks” and including (a) coverage for buildings under construction, (b) coverage for the cost to demolish undamaged portions of the property, the value of undamaged portions of the property and increased costs of construction, (c) during vertical construction, builder’s risk coverage, and

Required Property Insurance Coverage means the insurance required to be maintained pursuant to Sections 5.4 and 5.5 of the Loan Agreement, as described in more detail in Article 12 of this Lease Agreement.

Required Property Insurance Coverage means at any time business interruption insurance, workers' compensation insurance and insurance insuring all property of the Borrowers against loss or damage by fire, lightening, vandalism and malicious mischief and all other perils covered by standard "extended coverage" or "all- risk" insurance in amounts satisfactory to the Required Banks, with deductibles from the loss payable for any casualty not to exceed the amounts set forth on Schedule A, or as otherwise may be required by the Required Banks at any time and from time to time. If any insurance policies with respect to Required Property Insurance Coverage is written on a co-insurance basis, such policy must contain an agreed amount endorsement as evidence that the coverage is in an amount sufficient to insure the full amount of such property.

Required Property Insurance Coverage means a policy or policies of insurance insuring against loss or damage of the kinds usually insured against by similar businesses in the area, including without limitation insurance with respect to the property comprising the Project against loss or damage by fire, earthquake and other risks from time to time included under extended