Adjustment of Insurance Requirements Sample Clauses

Adjustment of Insurance Requirements. The minimum insurance requirements as to type and amounts shall be subject to reasonable increases at one (1) year intervals at the sole discre- tion of the Town.
Sample 1
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Adjustment of Insurance Requirements. In the event that, on any date, the senior long term debt rating of the Lessee, as given by Moodx'x Xxxestors Service, Inc. ("Moody's") and Standard and Poor's Corporation ("S&P") in their regular rating reports, is lower than BBB+ (as given by S&P) or Baa1 (as given by Moody's) or the Lessee's net worth is less than 60% of its net worth reflected in its most recent (as of the date hereof) audited financial statements, then the Lessee shall promptly (and in any event within thirty (30) days) obtain and maintain insurance in the full amounts required under Section 10(a) and with insurance companies meeting the criteria set forth therein, subject to deductibles of no more than $150,000 with respect to all risk property insurance and $200,000 with respect to liability insurance.
Sample 1
Adjustment of Insurance Requirements. The minimum insurance requirements as to type and amounts shall be subject to reasonable increases at the sole discretion of Landlord no more than once per calendar year.
Sample 1
Adjustment of Insurance Requirements. Notwithstanding the foregoing description of specific policies of insurance and minimum coverage amounts for each specified policy of insurance, the District and the City shall meet and confer at the times noted below to assess: (i) adjustments to minimum coverage limits under each of the policies of insurance the District and City are required to maintain under this Agreement; and (ii) different or additional policies of insurance the City or District is required to maintain under this Agreement. The City and District shall meet and confer at the following times:
Sample 1
Adjustment of Insurance Requirements. The minimum insurance requirements as to type and amounts shall be subject to reasonable increases at five (5) year intervals at the sole discretion of Landlord.
Sample 1

Related to Adjustment of Insurance Requirements

  • Review of insurance requirements The Security Trustee shall be entitled to review the requirements of this Clause 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Majority Lenders, significant and capable of affecting the Owners or the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • Insurance Requirements Vendor agrees to maintain the following minimum insurance requirements for the duration of this Agreement. All policies held by Vendor to adhere to this term shall be written by a carrier with a financial size category of VII and at least a rating of “A‐” by A.M. Best Key Rating Guide. The coverages and limits are to be considered minimum requirements and in no way limit the liability of the Vendor(s). Any immunity available to TIPS or TIPS Members shall not be used as a defense by the contractor's insurance policy. Only deductibles applicable to property damage are acceptable, unless proof of retention funds to cover said deductibles is provided. "Claims made" policies will not be accepted. Vendor’s required minimum coverage shall not be suspended, voided, cancelled, non‐renewed or reduced in coverage or in limits unless replaced by a policy that provides the minimum required coverage except after thirty (30) days prior written notice by certified mail, return receipt requested has been given to TIPS or the TIPS Member if a project or pending delivery of an order is ongoing. Upon request, certified copies of all insurance policies shall be furnished to the TIPS or the TIPS Member. Vendor agrees that when Vendor or its subcontractors are liable for any damages or claims, Vendor’s policy, shall be primary over any other valid and collectible insurance carried by the Member or TIPS. General Liability: $1,000,000 each Occurrence/Aggregate Automobile Liability: $300,000 Includes owned, hired & non‐owned Workers' Compensation: Statutory limits for the jurisdiction in which the Vendor performs under this Agreement. If Vendor performs in multiple jurisdictions, Vendor shall maintain the statutory limits for the jurisdiction with the greatest dollar policy limit requirement. Umbrella Liability: $1,000,000 each Occurrence/Aggregate

  • Insurance Requirement A. General Provisions Applying to All Policies

  • Minimum Insurance Requirements The Engineer shall maintain the following or equivalent insurance policies at no less than the limits shown below and cause its sub consultants to maintain similar insurance with limits acceptable to the University: COVERAGE Professional Liability General Liability Worker’s Compensation Employer’s liability LIMITS $250,000 per claim, $500,000 aggregate $1 million per occurrence, $2 million aggregate Statutory $ 500,000 The policies above shall contain the following conditions:

  • Other Insurance Requirements (a) Thirty (30) days’ advance written notice shall be provided to the City of cancellation, intended non-renewal, or reduction in coverages, except for non-payment for which no less than ten (10) days’ notice shall be provided to City. Notices shall be sent to the City address set forth in Section 11.1 entitled “Notices to the Parties.”

  • Contractor Insurance Requirements When performing Work on property in the care, custody, or control of the Judicial Council, the Contractor shall maintain all commercial general liability insurance, workers’ compensation insurance, and any other insurance the Judicial Council deems appropriate under the Agreement. Upon request from the Judicial Council, the Contractor shall furnish an insurance certificate evidencing required insurance coverage acceptable to the Judicial Council. The Contractor may also be required to have the Judicial Council shown as an additional insured on selected policies.

  • Additional Insurance Requirements The policies shall include, or be endorsed to include, the following provisions:

  • Compliance with Insurance Requirements Borrower will comply with all Insurance requirements and will not permit any condition to exist on the Mortgaged Property that would invalidate any part of any Insurance coverage required under this Loan Agreement.

  • Requirements of Insurance All such insurance shall (i) provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 10 days (or, to the extent reasonably available, 30 days) after receipt by the Collateral Agent of written notice thereof (the Borrower shall deliver a copy of the policy (and to the extent any such policy is cancelled or renewed, a renewal or replacement policy) or other evidence thereof to the Administrative Agent and the Collateral Agent, or insurance certificate with respect thereto) and (ii) name the Collateral Agent as loss payee (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance) (it being understood that, absent an Event of Default, any proceeds of any such property insurance shall be delivered by the insurer(s) to the Borrower or one of its Subsidiaries and applied in accordance with this Agreement), as applicable.

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