Company – Self-Insurance Sample Clauses

Company – Self-Insurance. If the Company is self-insured or becomes self-insured during the term of the Franchise Agreement, Company or its affiliated parent entity shall comply with the following: (i) provide the City, upon request, a copy of Company’s or its parent company’s most recent audited financial statements, if such financial statements are not otherwise publicly available; (ii) Company or its parent company is responsible for all payments within the self-insured retention; and (iii) Company assumes all defense and indemnity obligations as outlined in the indemnification section of this Agreement. 26.5. Compliance Required. Notwithstanding any provision in this Agreement to the contrary, failure of the Company to maintain any and all of the terms of the foregoing insurance provisions shall be considered a material breach of this Agreement and shall be cause for its termination at any time at the option of the City.