Flood Coverage Sample Clauses

The Flood Coverage clause defines the extent to which losses or damages caused by flooding are covered under an insurance policy or contract. Typically, this clause specifies what constitutes a flood, outlines any exclusions or limitations, and may set forth the process for making a claim related to flood damage. For example, it might clarify whether coverage applies to natural flooding, sewer backup, or both, and may impose sub-limits or deductibles specific to flood events. The core function of this clause is to clearly allocate risk and responsibility for flood-related losses, ensuring both parties understand the scope of protection and any limitations regarding flood incidents.
Flood Coverage. Flood insurance subject to the National Flood Insurance Program in the event the Secured Property is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area within a flood plain or flood risk zone, or having special flood hazards as determined by Lender, and in which flood insurance has been made available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as the same may be amended, or any successor statutes, on such basis and in such amounts as shall be required by Lender;
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Flood Coverage. Flood coverage shall include, but not be limited to, coverage for waves, tide or tidal water, of lakes, ponds, reservoirs, rivers, harbors, streams, or other bodies of water, whether or not driven by wind.
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Flood Coverage. For each damage that may occur in relation to flood coverage, a deductible exemption of 2% of the insurance amount of each of the following groups shall be applied to the relevant group. However, the total exemption to be applied to these groups is limited to EUR 50,000. • Building, fixed installation and decoration • Commodity • Machinery, equipment, fixtures and other installations Damages caused by landslide or land collapse as a result of excavations made around the insured building are included in the guarantee, except for excavations ongoing or planned (known to the insured it is planned) on the insurance start date. A 10% deductible exemption shall be applied over the compensation amount to be paid for each damage that may occur under this guarantee. With the Special Condition of Insulation Inadequacy, damages caused by leakage and/or entry of rain and snow water from the exterior or terrace of the building (with floor strainer) or windows, doors and moldings (offshores) due to insufficient insulation and/or loss of insulation and damages caused by leakage of water accumulated on roofs without floor strainer are included in the coverage not exceeding 10% of the total annual insurance amount and in any case TRY 500,000. An exemption of TRY 500 shall be applied for each damage covered by the guarantee. Damages that may occur due to the following reasons are excluded from the coverage. • Leaking water from the unplastered side facade caused by the collapse of the adjacent order building • Leaked water from the front with coarse and fine plaster but not painted • Leakage of water accumulated on balconies without floor strainers to the insured floor from downstairs and/or under the doors • Damage caused by sweating, mold and similar causes due to lack/loss of heat insulation • All kinds of insulation costs • Damages on the facade and roof Policy No: 105215621 Page: 6 / 22 • Provided that it is covered by this policy, damages that may occur due to hail in the building and content, with or without the storm, are covered by the limit specified on the policy in total per occurrence and during the policy period. • An exemption of USD 250 will be applied for each damage. • Exposed content is excluded from coverage even if it is under porch, awning or cover, etc.
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Flood Coverage. A flood insurance policy in the maximum amount available, as required by applicable law, if the Property is located in an area designated by the United States Federal Emergency Management Agency as a special flood hazard area. The policy shall name Bondowner Representative as loss payee on a Form 438 BFU or acceptable equivalent attached to the policy.
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Flood Coverage. If the Real Property or any part thereof is located in a flood hazard area for which flood insurance is available, Blackhawk shall maintain flood insurance insuring the existing and contemplated improvements on the Real Property in an amount of at least the unpaid indebtedness secured by the Deed of Trust outstanding at any given time or in such lesser amount to which Bank may agree in writing or as Blackhawk is then able to obtain. Said flood coverage shall contain standard mortgagee and loss payee clauses in form acceptable to Bank.
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Related to Flood Coverage

  • Boiler and Machinery Insurance The Owner shall have the option of purchasing and maintaining boiler and machinery insurance required by the Contract Documents or by law, which shall specifically cover such insured objects during installation and until final acceptance by the Owner. If purchased this insurance shall include interests of the Owner, Contractor, Subcontractors and Sub-subcontrators in the Work.

  • Standard Hazard and Flood Insurance Policies For each Mortgage Loan (other than a Cooperative Loan), the Master Servicer shall maintain, or cause to be maintained by each Servicer, standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. Pursuant to Section 4.01, any amounts collected by the Master Servicer, or by any Servicer, under any insurance policies maintained pursuant to this Section 9.16 or any Servicing Agreement (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or released to the Mortgagor in accordance with the applicable Servicing Agreement) shall be deposited into the Collection Account, subject to withdrawal pursuant to Section 4.02. Any cost incurred by the Master Servicer or any Servicer in maintaining any such insurance if the Mortgagor defaults in its obligation to do so shall be added to the amount owing under the Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however, that the addition of any such cost shall not be taken into account for purposes of calculating the distributions to be made to Certificateholders and shall be recoverable by the Master Servicer or such Servicer pursuant to Section 4.02.

  • Pollution Liability Insurance Environmental Impairment Liability Insurance shall be written on a Contractor’s Pollution Liability form or other form acceptable to the City providing coverage for liability arising out of sudden, accidental, and gradual pollution and remediation. The policy limit shall be no less than $1,000,000 dollars per claim and in the aggregate. All activities contemplated in this Agreement shall be specifically scheduled on the policy as “covered operations”. The policy shall provide coverage for the hauling of waste from the Project site to the final disposal location, including non-owned disposal sites.

  • Flood Insurance With respect to each Mortgaged Property, obtain flood insurance in such total amount as the Administrative Agent or the Required Lenders may from time to time reasonably require, if at any time the area in which any improvements located on any Mortgaged Property is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as amended from time to time.

  • PROFESSIONAL LIABILITY INSURANCE (ERRORS & OMISSIONS) Professional Liability Insurance for Errors and Omissions coverage in the amount of not less than ($1,000,000). If CONTRACTOR sub-contracts in support of CONTRACTOR’S work provided for in the agreement, Professional Liability Insurance for Errors shall be provided by the sub-contractor in an amount not less than one million dollars ($1,000,000) in aggregate. The insurance coverage provided by the CONTRACTOR shall contain language providing coverage up to one (1) year following completion of the contract in order to provide insurance coverage for the hold harmless provisions herein if the policy is a claims-made policy.