Environmental Insurance Clause Samples
The Environmental Insurance clause requires one or more parties to obtain and maintain insurance coverage specifically for environmental risks associated with a project or property. This typically includes coverage for pollution, contamination, or other environmental liabilities that may arise during the course of operations or ownership. By mandating such insurance, the clause ensures that financial resources are available to address environmental damage or regulatory claims, thereby allocating risk and protecting all parties from potentially significant environmental liabilities.
POPULAR SAMPLE Copied 108 times
Environmental Insurance. Throughout the Lease Term, Lessor shall have the right, at its sole cost and expense, to maintain an Environmental Policy with respect to the Properties. Upon expiration of an Environmental Policy, Lessee shall reasonably cooperate with Lessor in connection with Lessor’s renewal or replacement of such Environmental Policy and allow for any necessary environmental investigations of the Properties.
Environmental Insurance. Borrower shall include Lender as a loss payee on all environmental insurance policies held by Borrower relating to the Property.
Environmental Insurance. If required by Lender, Borrower shall have obtained a secured creditor environmental insurance policy with respect to the Property, which shall be in form and substance satisfactory to Lender. Any such policy shall have a term not less than the term of the Loan. Borrower shall have provided to Lender evidence that the premiums for such policy has been paid in full.
Environmental Insurance. On or prior to the Closing Date, Administrative Agent shall have received:
(i) the Environmental Studies from Environmental Resources Management, with respect to certain of the Mortgaged Fee Properties, the results of which shall be in form and substance reasonably satisfactory to Administrative Agent; and
(ii) evidence of insurance complying with the requirements of Section 7.8 for the business and properties of Company.
Environmental Insurance. (a) Except as specifically provided in this Lease, neither the maintenance of any insurance policy required under this Lease nor the minimum insurance limits specified herein shall be deemed to limit or restrict in any way the Tenant’s liability for environmental matters under this Article 10.
(b) With respect to third-party claims arising from or related to, directly or indirectly, in whole or in part: (i) the threatened or actual release of any Hazardous Materials in, on, under or from the Demised Premises; and (ii) any environmental liability or remedial action associated with the Demised Premises for any activities conducted on the Demised Premises; both parties shall be covered and such losses, costs, expenses, claims, demands, obligations and liabilities will be satisfied to the extent environmental insurance provides coverage. This provision shall survive the Lease Term.
Environmental Insurance. Borrower has never applied for and been denied environmental impairment liability insurance coverage relating to the Property. Borrower has furnished to Lender a copy of all such environmental insurance policies, and all applications (whether denied, accepted or pending), related to Borrower or the Property. At Lender’s request, Borrower shall cause Lender to be named as an additional insured on any such policy currently in effect.
Environmental Insurance. The Commission shall cause Developer to be added as an additional insured by endorsement to the Commission's existing environmental liability insurance policy applicable to the Property (the "Environmental Policy") issued by Navigators (the "Environmental Insurer"), subject to the provisions of the Environmental Policy and Developer's satisfaction of the Environmental Insurer's underwriting and endorsement requirements. The Commission shall maintain the Environmental Policy and Developer's additional insured status, at its cost up to the annual renewal premium amount of Twenty-Five Thousand Dollars ($25,000), in full force and effect (i) for so long as there is no material, uncured default under this Agreement;
Environmental Insurance. Maintain with financially sound and reputable insurance companies, a premises pollution liability portfolio insurance and storage tank third-party liability, corrective and clean-up insurance policy with respect to its properties and business for an initial three year policy period commencing on the date hereof and with limits not less than, and with terms and conditions comparable to, the limits, terms and conditions in such policies that are in effect as of the date hereof, and subject to annual renewals after such initial three year policy period, which insurance shall be reasonably satisfactory to the Required Lenders. The Borrower shall purchase such insurance required under this Section 6.07(d) within 30 days following the Restatement Effective Date and provide evidence thereof to the Administrative Agent.
Environmental Insurance. On or by the Initial Closing, SSA shall, at its sole cost and expense, obtain and maintain one or more environmental insurance policies to be issued by AIG, XL or Chubb in substantially the same form as the form attached hereto as Exhibit P, with a minimum term of ten (10) years, with aggregate limits of not less than $20 Million, and a self-insured retention of not more than $250,000, to cover: (i) any and all third-party claims for bodily injury and property damage (excluding NRD Liabilities) relating to known environmental conditions at the Property; and (ii) any and all claims for bodily injury, property damage, or remediation liability associated with unknown environmental conditions at the Property, including but not limited to all necessary operation and maintenance related to such unknown environmental conditions, if any. The NL Companies, SERA and the County shall be named as additional insureds on each such policy. Without limiting the generality thereof and notwithstanding anything to the contrary reflected in Exhibit P, each such policy shall: (i) make clear that the insured vs. insured exclusion will not apply as among the parties to this Agreement; (ii) contain a waiver of subrogation in favor of the NL Companies, SERA and the County; (iii) be non-cancellable, except in the event of non-payment of premium and provide for notice to the NL Companies in such event; (iv) contain an endorsement that the policy is intended to be primary coverage; and (v) be subject to a final review and approval by the NL Companies, which approval shall not be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the contrary above, the NL Companies shall not be named as an additional insured with respect to any coverage provided for NRD Liabilities and Raritan River Liabilities. A certificate for each such policy evidencing the coverage provided thereunder and that the NL Companies, the County and SERA have been named as additional insureds shall be provided to the NL Companies, the County and SERA. Assurance of payment of the premiums for such policies shall be provided as follows:
(A) At the Initial Closing, SSA shall provide evidence of payment in full of the premiums for each policy for its full term; or
(B) If SSA elects to pay the premiums over time, then at the Initial Closing, SSA shall provide evidence of payment in full of the premiums for each policy for the first year of coverage, and shall provide a letter of credit for the remain...
Environmental Insurance. Environmental liability insurance policies, which shall be non-cancelable at any time prior to the Maturity Date, against any and all claims, including, without limitation, unknown environmental hazards requiring remediation as of the date of this Agreement and known environmental conditions not requiring remediation as of the date of this Agreement, in an amount of not less than $5,000,000 per loss or $30,000,000 in the aggregate arising out of or connected with the presence of any Hazardous Materials at the Property. Lender shall be named in such environmental insurance as an additional named insured and the environmental insurance policy shall provide that it shall be assignable to Lender upon a foreclosure or assignment in lieu of foreclosure of the Mortgage.