Comprehensive General Liability Coverage. Operator shall obtain and keep in force a Comprehensive General Liability (CGL) insurance policy to cover Owner and Operator, in amounts no less than $1,000,000 per occurrence of bodily injury and property damage, and not less than $2,000,000 policy general aggregate and an excess or umbrella liability policy in an amount not less than $10,000,000 per occurrence basis, the cost of insurance to be paid out of the Trust Account as approved by the Budget. Such insurance shall name Owner as a named insured and shall provide Owner and Lender with 30-day prior written notice of cancellations or material change in coverage. Operator shall be named as an additional insured on such CGL policy.
Appears in 2 contracts
Sources: Management Agreement, Management Agreement