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 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.

Examples of Required Property Insurance Coverage in a sentence

• 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.

• All policies providing the Required Property Insurance Coverage shall contain standard mortgagee clauses requiring all proceeds resulting from any claim for loss or damage in excess of One Hundred Thousand Dollars ($100,000.00)(or other amount as negotiated) to be paid to the (name of local jurisdiction) and any Net Proceeds of insurance providing such coverage shall be paid and applied as provided in Section 5.2 hereof.

• 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 Company shall keep the Collateral continuously insured with Required Property Insurance Coverage and shall keep and maintain the Required Public Liability Insurance Coverage.

• In connection with any damage to or destruction of the Project Facilities or any part thereof valued at less than or equal to $500,000, and the repair or restoration of the Project Facilities pursuant to Section 7.1, Net Proceeds of Required Property Insurance Coverage shall be paid to the Lessee for application of as much as may be necessary for such repair and restoration.

More Definitions of Required Property Insurance Coverage

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.

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 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 the insurance required to be maintained pursuant to Sections 5.4 and 5.5 hereof.

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 at any time 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 an amount not less than the replacement cost of such property and with not more than $5,000.00 deductible from the loss payable for any casualty. 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 (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.