Failure to Obtain Insurance Coverage Sample Clauses

Failure to Obtain Insurance Coverage. (a) If in any instance the Concessionaire has not performed its obligations respecting insurance coverage set forth in this Agreement (as may be adjusted in accordance with Section 17.05) or is unable to enforce and collect any such insurance for failure to assert Claims in accordance with the terms of the insurance policies, then for purposes of determining the Concessionaire’s liability and the limits thereon or determining reductions in compensation due from the Department to the Concessionaire on account of available insurance, the Concessionaire will be treated as if it has elected to self-insure up to the full amount of insurance coverage which would have been available had the Concessionaire performed such obligations and not committed such failure.
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Failure to Obtain Insurance Coverage. (a) If in any instance the Developer has not performed its obligations respecting insurance coverage set forth in this Agreement (as may be adjusted in accordance with Section 17.05) or is unable to enforce and collect any such insurance for failure to assert Claims in accordance with the terms of the insurance policies, then for purposes of determining the Developer’s liability and the limits thereon or determining reductions in compensation due from the Department to the Developer on account of available insurance, the Developer will be treated as if it has elected to self-insure up to the full amount of insurance coverage which would have been available had the Developer performed such obligations and not committed such failure.
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Failure to Obtain Insurance Coverage. (a) If in any instance the DB Contractor has not performed its obligations respecting insurance coverage set forth in this Agreement or is unable to complete the Punch List items, as reasonably estimated by the Concessionaire. Upon achievement of Final Completion under this Agreement, the DB Contractor may further reduce the aggregate amount of the Letters of Credit to an amount equal to one percent (1%) of the Contract Sum. Such reduced Letters of Credit shall remain in effect until the end of the Warranty Period for each applicable Project Asset. If any warranty claims asserted pursuant to Sections 8.11(a) and 8.11(b)(i) remain unresolved as of the date any Letter of Credit is otherwise permitted to expire pursuant to the preceding sentence, the DB Contractor shall cause the Letters of Credit to remain in effect through the date of resolution of such warranty claims; provided, that the aggregate amount of the Letters of Credit may be reduced to an amount equal to 150% of the total amount of such outstanding claims as determined by the Concessionaire in good faith. For so long as the DB Contractor is obligated to maintain the Letters of Credit, not later than 30 Days prior to the stated expiration dates of the Letters of Credit, the DB Contractor shall renew, or cause the renewal of, each outstanding Letter of Credit, or replace, or cause the replacement of, each such Letter of Credit with one or more replacement Letters of Credit from a Qualified Issuer and having a stated amount equal to that of the Letter of Credit being renewed or replaced. For so long as the DB Contractor is obligated to maintain the Letters of Credit, in the event (A) the issuer of a Letter of Credit shall fail to meet the requirements of a Qualified Issuer, (B) an issuer of a Letter of Credit shall fail to honor the beneficiary’s properly documented request to draw on an outstanding Letter of Credit, or (C) the issuer of an outstanding Letter of Credit indicates its intent not to renew such Letter of Credit, within five (5) Business Days thereafter the DB Contractor shall provide a substitute Letter of Credit from a Qualified Issuer other than the bank that has been downgraded or failed to honor the outstanding Letter of Credit. If the Concessionaire does not receive a replacement Letter of Credit from a Qualified Issuer within the time specified in either of the two preceding sentences, it may draw on the full available amount of the applicable Letter of Credit. Amounts drawn in s...
Sample 1
Failure to Obtain Insurance Coverage. (a) If in any instance the Developer has not performed its obligations respecting insurance coverage set forth in this Agreement (as may be adjusted in accordance with Section 17.05) or is unable to enforce and collect any such insurance for failure t... (b) Nothing in this Section 17.06 or elsewhere in this Article 17 will be construed to treat the Developer as electing to self-insure where the Developer is unable to collect due to the bankruptcy or insolvency of any insurer which at the time the ins...
Sample 1

Related to Failure to Obtain Insurance Coverage

  • Failure to Maintain Insurance Failure on the part of the Consultant to maintain the insurance as required shall constitute a material breach of contract, upon which the City may, after giving five business days notice to the Consultant to correct the breach, immediately terminate the Agreement or, at its discretion, procure or renew such insurance and pay any and all premiums in connection therewith, with any sums so expended to be repaid to the City on demand, or at the sole discretion of the City, offset against funds due the Consultant from the City.

  • Insurance Coverages The Design Professional will promptly obtain and maintain the insurance coverage described on the Schedule of Project Details and provide the Owner with proof of that insurance before commencing services under this Agreement. The Design Professional agrees that the Services may not commence until all proof of required insurance has been provided to and approved by the Owner.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

  • Insurance Cover Without prejudice to the provisions contained in Clause 26.1, the Concessionaire shall, during the Operation Period, procure and maintain Insurance Cover including but not limited to the following:

  • Evidence of Insurance Cover All insurances obtained by the Concessionaire in accordance with this Article 32 shall be maintained with insurers on terms consistent with Good Industry Practice. Within 15 (fifteen) days of obtaining any insurance cover, the Concessionaire shall furnish to the Authority, notarised true copies of the certificate(s) of insurance, copies of insurance policies and premia payment receipts in respect of such insurance, and no such insurance shall be cancelled, modified, or allowed to expire or lapse until the expiration of at least 45 (forty five) days after notice of such proposed cancellation, modification or non-renewal has been delivered by the Concessionaire to the Authority.

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

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