Fleet Insurance. Each Lessee shall at all times maintain or cause to be maintained, with financially sound and reputable insurers, (a) personal injury and damage insurance with respect to the Vehicles leased by such Lessee hereunder, and (b) insurance with respect to properties and business against loss or damage of the kinds customarily insured against by corporations of established reputation engaged in the same or similar businesses and similarly situated, of such types and in such amounts as are customarily carried under similar circumstances by such other corporations. Each Lessee may, in lieu of maintaining such insurance with insurers, self-insure.
Fleet Insurance. Each Lessee shall at all times maintain or cause to be maintained, with one or more Qualified Insurers (as defined below), (a) personal injury and damage insurance with respect to the Vehicles leased by such Lessee hereunder and (b) insurance with respect to properties and business against loss or damage of the kinds customarily insured against by corporations, companies or other entities of established reputation engaged in the same or similar businesses and similarly situated, of such types and in such amounts as are customarily carried under similar circumstances by such other corporations, companies or other entities, including, without limitation, catastrophic physical damage insurance in an amount not less than $50,000,000. Catastrophic physical damage insurance shall name the Master Collateral Agent as loss payee as its interests may appear. Notwithstanding the foregoing, each Lessee may, in lieu of maintaining any such insurance with Qualified Insurers, self-insure. For purposes hereof, “Qualified Insurer” shall mean a financially sound and reputable insurance company duly authorized and licensed in such jurisdictions where such authorization is required by law to transact business and having a general policy rating of “A” or better by A.M. Best Company, Inc.
Fleet Insurance. 8 Section 6.2. Information........................................... 8
Fleet Insurance. The Lessee shall at all times maintain or cause to be maintained, with financially sound and reputable insurers, (a) personal injury and damage insurance with respect to the Vehicles, and (b) insurance with respect to properties and business against loss or damage of the kinds customarily insured against by corporations of established reputation engaged in the same or similar businesses and similarly situated, of such types and in such amounts as are customarily carried under similar circumstances by such other corporations. The Lessee may, in lieu of maintaining such insurance with insurers, self-insure.
Fleet Insurance. Each Lessee shall at all times maintain or cause to be maintained, with one or more Qualified Insurers (as defined below), (a) personal injury and damage insurance with respect to the Vehicles leased by such Lessee hereunder and (b) insurance with respect to properties and business against loss or damage of the kinds customarily insured against by corporations, companies or other entities of established reputation engaged in the same or similar businesses and similarly situated, of such types and in such amounts as are customarily carried under similar circumstances by such other corporations, companies or other entities, including, without limitation, catastrophic physical damage insurance in an amount not less than $50,000,000. Catastrophic physical damage insurance shall name the Master Collateral Agent as loss payee as its interests may appear. Notwithstanding the foregoing, each Lessee may, in lieu
Fleet Insurance. If any of the Insurances referred to in Clause 23.1 (Required Insurances) form part of any fleet cover, the Borrower will procure that any letter of undertaking provides that the Approved Insurance Brokers and Approved Insurers shall undertake to the Finance Parties that Approved Insurers shall neither set off against any claims in respect of the Vessel any premiums due in respect of other vessels under such fleet cover or any premiums due for other Insurances, nor cancel the insurance for reason of non-payment of premiums for other vessels under such fleet cover or other insurances.
Fleet Insurance. 9 Section 6.2. Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 SECTION 7.
Fleet Insurance. A. Any employee who drives a Board-owned vehicle shall maintain a driving record that meets the standards for insurability of the Board’s Fleet Insurance Carrier. Any such employee who is determined to be non-insurable by the Insurance Carrier shall be subject to immediate termination. In the event a posted vacancy exists for which the employee is qualified, and which does not require the employee to drive a Board vehicle, the employee may apply for the position in accordance with Article 10. However, the filing of an application for a posted vacancy shall not alter the right of the Superintendent and Board to terminate the employee if such termination is considered to be in the best interest of the School District.
