Agent’s Insurance. Agent shall maintain at Agent’s cost and expense, until the end of the Marketing Period for all of the Properties, in such amounts as it currently has in effect, comprehensive public liability and automobile liability insurance policies covering injuries to persons and property in or in connection with Agent’s agency at the Stores, and shall cause Merchant to be named an additional insured with respect to such policies. Exhibit 17.3 attached hereto contains a description of all such policies. Prior to the Closing Date, Agent shall deliver to Merchant certificates evidencing such insurance policies setting forth the duration thereof and naming Merchant as an additional insured, in form and substance reasonably satisfactory to Merchant. In the event of a claim under any such policies Agent shall be responsible for the payment of all deductibles, retentions or self-insured amounts thereunder if such claims are directly attributable to the negligence of Agent.
Appears in 1 contract
Agent’s Insurance. Agent shall maintain at Agent’s cost and expense, until expense throughout the end of the Marketing Period for all of the PropertiesSale Term, in such amounts and on such terms and conditions as it currently has are acceptable to Merchant in effectits reasonable discretion, comprehensive public liability and automobile liability insurance policies covering injuries to persons and property in in, or in connection with Agent’s agency at duties at, the Stores, and shall cause Merchant to be named an additional insured with respect to such policies. Exhibit 17.3 11.4 attached hereto contains a description of all such policies. Prior to the Closing Sale Commencement Date, Agent shall deliver to Merchant certificates evidencing such insurance policies policies, setting forth the duration thereof and naming Merchant as an additional insured, in form and substance reasonably reasonable satisfactory to Merchant. In the event of a claim under any such policies policies, Agent shall be responsible for the payment of all deductibles, retentions retentions, or self-self- insured amounts thereunder if such claims are directly attributable thereunder, to the negligence extent said claim arises from or relates to the alleged acts or omissions of Agent or Agent’s employees, agents or independent contractors.
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Sources: Agency Agreement
Agent’s Insurance. Agent shall maintain at Agent’s 's cost and expense, as an "Expense" hereunder, until the end of the Marketing Period for all of the Properties, in such amounts as it currently has in effect, comprehensive public liability and automobile liability insurance policies covering injuries to persons and property in or in connection with Agent’s 's agency at the Stores, and shall cause Merchant to be named an additional insured with respect to such policies. Exhibit 17.3 attached hereto contains a description of all such policies. Prior to the Closing Date, Agent shall deliver to Merchant certificates evidencing such insurance policies setting forth the duration thereof and naming Merchant as an additional insured, in form and substance reasonably satisfactory to Merchant. In the event of a claim under any such policies Agent shall be responsible for the payment of all deductibles, retentions or self-insured amounts thereunder if such claims are directly attributable to the negligence of Agent.
Appears in 1 contract
Sources: Agency Agreement (Phar Mor Inc)