Common use of Additional Provisions Respecting Insurance Clause in Contracts

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 6.4(a) and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be in form and substance satisfactory to the Agency, and procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 6.4(a) and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section Sections 6.4(a), (b) and (c) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by in Section 6.4 hereof 6.3 shall be procured taken out and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required Company and authorized to procure do business in the sameState. The company issuing All policies evidencing such insurance shall provide for payment of the policies losses for coverage required by Section 6.4(a6.3(a) and (e6.3(b) to the Issuer, the Company and the City as their respective interests may appear; provided, however, that all claims regardless of amount may be adjusted by the Company with the insurers, subject to approval of the Issuer, which approval shall not be unreasonably withheld, as to settlement of any claim which is an amount which would require payment to the Issuer as aforesaid. The insurance hereby required may be contained in blanket policies now or hereafter maintained by the Company. All such policies, or a certificate or certificates of the insurers that such insurance is in force and effect, shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance deposited with the Issuer and the City and shall contain a provision that such policy may not be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character cancelled unless the Issuer and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 6.4 hereof shall provide for City are notified at least thirty (30) days’ days prior written notice to cancellation; and at least thirty (30) days prior to expiration of any such policy, the Company shall furnish the Issuer and the City with evidence satisfactory to the Agency latter that the policy has been renewed or replaced or is no longer required hereby. The Company may fulfill its obligations to keep the Project insured pursuant to Section 6.3 hereof and this Section 6.5 by having the Project covered under a blanket or master policy of the restrictionCity or the Issuer. In the case of such coverage, cancellation or modification thereof. The policy evidencing the insurance required by Section 6.4(c) hereof shall name Issuer must assure the Agency as an additional insured. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted receipt by the Company thirty (30) days prior notice of any changes, modifications or cancellations of insurance coverage. The Issuer agrees to any Lender pursuant use its best efforts to procure the insurance at the most favorable rates possible, and, if possible, to cause the City to provide coverage through its blanket or master policies (in which case the cost of such insurance to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed equitably reduced to be automatic and to have occurred upon reflect the occurrence cost savings as a result of an Event of Default under any Mortgage) to any Lender such inclusion in the policies of insurance required under Section 6.4(aCity's or the Issuer's blanket or master policies), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 6.4(a) and (e) shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ ' prior written notice to the Agency of the restriction, cancellation or modification thereof. thereof The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section Sections 6.4(a), (b) and (c) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 6.4(a) and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Section 6.4 (a) and (e) hereof shall contain a standard New York non-contributory mortgagee clause showing the interest of any Lender and shall provide for payment to any Lender of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder, and all policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ prior written notice to the Agency and any Lender of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency and any Lender as an additional insuredinsureds. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional insureds. The Agency Company acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company Agency to any Lender pursuant to the Mortgage, and the Agency Company consents thereto. The Agency hereby acknowledges that upon Upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 6.4(a) and (e) shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ ' prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 6.4(a) and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ prior written notice to the Agency of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency as an additional insured. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional insuredsinsureds on a primary and noncontributory basis with any coverage held by the Agency, if any. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a1) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the samesame and authorized to write such insurance in the State. The company issuing the policies required by Section 6.4(a) and (e) 6.4 hereof shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Sections 6.4(a) and (e) hereof shall provide for payment to the Trustee of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder, and all policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ ' prior written notice to the Agency of the restriction, cancellation or modification thereofthereof to the Issuer and the Trustee. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency Issuer and the Trustee as an additional insurednamed insureds. All policies evidencing the insurance required by Section Sections 6.4(d)(ii), (iii) and (iv) hereof shall name the Agency Issuer, the Trustee and the Company Institution as additional named insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon Upon request of any Lenderthe Trustee or the LOC Bank, the Company Institution will assign and deliver (which assignment shall be deemed to be automatic the Trustee and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender LOC Bank, as their interest may appear, the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender the Trustee, as applicable, shall at all times, upon such request and until the payment in full of any Loanthe Bonds, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loanthe Bonds and until all obligations of the Institution to the Trustee have been satisfied. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. The company issuing the policies required by Section 6.4(a) and (e) shall be rated “A” or better by A.M. Best Co., Inc. in Best’s Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Section 6.4(a) and (e) hereof shall contain a standard New York non-contributory mortgagee clause showing the interest of any Lender and shall provide for payment to any Lender of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder to the extent required by the Mortgage, and all policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ prior written notice to the Agency and any Lender of the restriction, cancellation or modification thereof. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency and any Lender as an additional insuredinsureds. All policies evidencing the insurance required by Section 6.4(d)(ii), (iii) and (iv) shall name the Agency and Agency, the Company and any Lender as additional insureds. The Agency acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company to any Lender pursuant to the Mortgage, and the Agency consents thereto. The Agency hereby acknowledges that upon request of any Lender, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any Mortgage) to any Lender the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender shall at all times, upon such request and until the payment in full of any Loan, have and hold said policies and the Net Proceeds thereof as collateral and further security under any Mortgage for the payment of any Loan. The policies required under Section Sections 6.4(a), (b) and (c) shall contain appropriate waivers of subrogation.

Additional Provisions Respecting Insurance. (a) All insurance required by Section 6.4 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies authorized to write such insurance in the State and selected by the entity required to procure the same. , The company issuing the policies required by Section 6.4(a6,4(a) and (ec) shall be rated “"A” " or better by A.M. Best Co., Inc. in Best’s 's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the procuring entity is engaged. All policies evidencing the insurance required by Sections 6,4(a) and (e) hereof shall contain a standard New York non-contributory mortgagee clause showing the interest of the Mortgagee as first mortgagee, shall provide for payment to the Mortgagee of the Net Proceeds of insurance resulting from any claim for loss or damage thereunder and all policies of insurance required by Section 6.4 hereof shall provide for at least thirty (30) days’ days prior written notice to the Agency of the restriction, cancellation or modification thereofthereof to the Agency and the Mortgagee. The policy evidencing the insurance required by Section 6.4(c) hereof shall name the Agency and the Mortgagee as an additional insurednamed insureds. All policies evidencing the insurance required by Section Sections 6.4(d)(ii), (iii) and (iv) shall name the Agency and the Company as additional named insureds. The Agency Company acknowledges that a mortgage and security interest in the policies of insurance required by Section 6.4(a) and the Net Proceeds thereof have been or may be granted by the Company Agency to any Lender the Mortgagee pursuant to the Mortgage, Mortgage and the Agency Company consents thereto. The Agency hereby acknowledges that upon , Upon request of any Lenderthe Mortgagee, the Company will assign and deliver (which assignment shall be deemed to be automatic and to have occurred upon the occurrence of an Event of Default under any the Mortgage) to any Lender the Mortgagee, the policies of insurance required under Section 6.4(a), so and in such manner and form that any Lender the Mortgagee shall at all times, upon such request and until the payment in full of any the Loan, have and hold said policies and the Net Proceeds thereof thereof, as collateral and further security under any the Mortgage for the payment of any the Loan. The policies required under Section 6.4(a) shall contain appropriate waivers of subrogation.. Nothing contained in this Lease Agreement is intended to limit or modify any insurance requirements set forth in the Mortgage