Additional Policies Required During the Project Term Clause Samples
The "Additional Policies Required During the Project Term" clause mandates that the party responsible for insurance must obtain and maintain specific insurance policies beyond the standard requirements for the duration of the project. This may include coverage types such as professional liability, cyber risk, or environmental insurance, depending on the project's nature and associated risks. By requiring these additional policies, the clause ensures that all potential liabilities arising during the project are adequately covered, thereby protecting both parties from unforeseen risks and financial exposure.
Additional Policies Required During the Project Term. Commencing on the Effective Date and at all times during the Project Term, StadCo shall, at its sole cost and expense, obtain, keep, and maintain or cause to be obtained, kept, and maintained, the insurance policies described in Sections 5.1(a), (b), (c), and (d) of the Stadium Lease (subject to Section 5.1(j) of the Stadium Lease) even though the term of the Stadium Lease has not yet commenced; provided, however, commencing on the Effective Date and until the Term Commencement Date of the Stadium Lease (the “Development Period”): (a) StadCo shall not be required to maintain the insurance set out in Sections 5.1(a) and (c) of the Stadium Lease as to any construction operations conducted on the premises demised under the Stadium Lease so long as such construction operations are otherwise insured pursuant to the insurance policies required to be maintained under Section 13.1 hereof and (b) StadCo shall only be required to maintain an excess/umbrella policy in an amount not less than fifty million dollars ($50,000,000).
Additional Policies Required During the Project Term. Commencing on the Effective Date and at all times during the Project Term, StadCo shall, at its sole cost and expense, obtain, keep, and maintain or cause to be obtained, kept, and maintained, the insurance policies described in Sections 5.1(a), (b), (c), and (d), of the Stadium Lease even though the term of the Stadium Lease has not yet commenced; provided, however, commencing on the Effective Date and until the Term Commencement Date of the Stadium Lease (the “Development Period”): (a) StadCo shall not be required to maintain the insurance set out in Sections 5.1(a) and (c) of the Stadium Lease as to any construction operations conducted on the premises demised under the Stadium Lease so long as such construction operations are otherwise insured pursuant to the insurance policies required to be maintained under Section 13.1 hereof and (b) StadCo shall only be required to maintain an excess/umbrella policy in an amount not less than Fifty Million and No/100 Dollars ($50,000,000.00).
Additional Policies Required During the Project Term. Commencing on the Effective Date and at all times during the Project Term, StadCo shall, at its sole cost and expense, obtain, keep, and maintain or cause to be obtained, kept, and maintained, the insurance policies described in Article 13 of the Stadium Lease even though the term of the Stadium Lease has not yet commenced.