Equipment Breakdown Insurance. In the event the Contractor installs and runs and/or operates (whether for testing or other purposes) heating, air conditioning, and electrical machinery and equipment, the Contractor shall purchase and maintain equipment breakdown (boiler and machinery) insurance, which shall specifically cover such objects during installation and until final acceptance by the Agency. This insurance shall include interests of the Agency, Contractor, and subcontractors at any tier in the Work, and the Agency and Contractor shall both be named insured. Before an exposure to loss may occur, the Contractor shall file with the Agency a copy of each policy that includes insurance coverage required by this Section 5.2. Each policy shall contain all generally applicable conditions, definitions, exclusions and endorsements related to this Project.
Equipment Breakdown Insurance. Borrower shall maintain, or cause to be maintained, equipment breakdown insurance covering all mechanical and electrical equipment located within or used in connection with the operation of the Property against physical damage, business income and rental income (if applicable), extra expense, and expediting expense. Equipment Breakdown Insurance shall be provided on a replacement cost value basis, to a minimum limit of 100% of the replacement cost of the Improvements (excluding costs of footings, foundations, excavations and underground utilities).
Equipment Breakdown Insurance using a comprehensive machinery coverage form covering sudden and accidental breakdown of objects whether above ground or below ground, which shall be defined to include any fired or unfired vessel normally subject to vacuum or internal pressure, any refrigerating or air conditioning system with piping and accessory equipment, and any mechanical or electrical machine or apparatus which generates, controls, transmits, transforms, or utilizes mechanical or electrical power. Property damage shall be covered in an amount equal to 100% of the actual replacement value of such items, and business income coverage shall provide full recovery of the net profits and continuing expenses on an actual loss sustained basis. Coal Supply Agreement
Equipment Breakdown Insurance. In the event the Contractor installs and runs and/or operates (whether for testing or other purposes) heating, air conditioning, and electrical machinery and equipment, the Contractor shall purchase and maintain equipment breakdown (boiler and machinery) insurance, which shall specifically cover such objects during installation and until final acceptance by the Agency. This insurance shall include interests of the Agency, Contractor, and subcontractors at any tier in the Work, and the Agency and Contractor shall both be named insured. Before an exposure to loss may occur, the Contractor shall file with the Agency a copy of each policy that includes insurance coverage required by this Section 5.2. Each policy shall contain all generally applicable conditions, definitions, exclusions and endorsements related to this Project. Performance and Payment Bonds: Prior to beginning work, the Contractor shall deliver to the Agency a Performance Bond and a Labor & Material Payment Bond. Each bond shall be in the amount of 100% of the Contract Sum. The Contractor’s Performance Bond shall be in the form of the SE-355, Performance Bond, and the Labor & Material Payment Bond shall be in the form of the SE-357, Labor & Material Payment Bond. The surety company providing the Bonds shall have, at a minimum, a “Best Rating” of “A” as stated in the most current publication of “Best’s Key Rating Guide, Property - Casualty.” Contractor’s failure to provide bonds as herein required shall be an event of default justifying the Agency, in its sole discretion, in terminating this Contract for cause. Waivers of Subrogation The Agency and Contractor waive all rights against (1) each other and any of their subcontractors, sub-subcontractors, agents and employees, each of the other, (2) the Architect and Architect’s consultants; and (3) separate contractors, if any, and any of their subcontractors, sub-subcontractors, agents and employees for damages caused by fire or other causes of loss to the extent the property insurance provided by the Contractor pursuant to this Section 5.2 covers and pays for the damage, except such rights as they have to proceeds of such insurance. The Agency or Contractor, as appropriate, shall require from the Architect, Architect’s consultants, separate contractors, subcontractors, and sub-subcontractors, similar written waivers in favor of other parties enumerated herein. The policies shall provide such waivers of subrogation by endorsement or otherwise. A wa...
Equipment Breakdown Insurance. Equipment breakdown insurance for the Property, in the amount of full replacement of the Property and the Tenant Personalty and Existing Personalty, under the terms of which Landlord and Tenant will be indemnified, as their interests may appear, against any loss or damage of the Property which may result from any accident as covered under a standard equipment breakdown policy;
Equipment Breakdown Insurance. In the event the Contractor installs and runs and/or operates (whether for testing or other purposes) heating, air conditioning, and electrical machinery and equipment, the Contractor shall purchase and maintain equipment breakdown (boiler and machinery) insurance, which shall specifically cover such objects during installation and until final acceptance by the Agency. This insurance shall include interests of the Agency, Contractor, and subcontractors at any tier in the Work, and the Agency and Contractor shall both be named insured.
