Insurance Against Public Liability and Property Damage. The Debtor covenants and agrees that it will, without cost to the Secured Party, maintain or cause to be maintained in effect with respect to the Rigs throughout the term of this Security Agreement with such underwriters and under the broadest policy forms currently available from time to time and carried by prudent owners of similar equipment engaged in similar drilling operations (at the time of issue of the policies in question) and approved by the Secured Party in accordance with applicable law, commercial general liability and pollution liability insurance policies insuring against liabilities for any injury to the person of others and any damage to the property of others arising from such risks, with such reasonable deductibles (not in excess of USD 100,000 including any self-insurance) and in such amounts (but not less than a total general liability coverage of USD 10,000,000). Any insurance policies maintained in accordance with this Section 5.02 shall include the Secured Party as an additional insured without liability for the payment of premiums. Each such policy shall also include effective waivers by the insurer of all claims for insurance premiums against the Secured Party. All provisions of the liability insurance policies, except for the limits of liability, shall operate in the same manner as if there were a separate policy of insurance covering each insured. Furthermore, each such policy shall provide or be endorsed to provide that violation of the terms, conditions or warranties of any policy of insurance by the Debtor shall not invalidate any such insurance coverage insofar as the interests of the Secured Party are concerned.
Insurance Against Public Liability and Property Damage. Without cost to any Secured Party, the Partnership shall maintain or cause to be maintained in effect at all times with responsible insurers authorized to do business in the State of Virginia with a Best's rating of "A-" or better (except for policies underwritten by Lloyds of London and other approved companies acceptable to the Agent) insurance policies with respect to the Project insuring against liability for death of, or loss, injury or damage to, the person or property of others from such risks, in such form as shall at all times be satisfactory to the Agent and in such amounts as the Partnership
Insurance Against Public Liability and Property Damage. PDC covenants that it will, without cost to the Bank, maintain or cause to be maintained in effect for the Rigs throughout the term of this Security Agreement commercial general liability and pollution liability insurance policies with reputable and solvent insurance companies, insuring against liabilities for any injury to the person of others and any damage to the property of others arising from those risks, with reasonable deductibles (not in excess of $100,000 including any self-insurance) and in
Insurance Against Public Liability and Property Damage. Lessee, at its sole cost and expense, shall maintain throughout the Term and thereafter until the Facility is returned to Lessor pursuant to Section 12(a) hereof, comprehensive general liability insurance against claims for bodily injury or death or property damage arising out of the use, possession, operation or condition of the Facility in such scope as shall be reasonably acceptable to the Lessor and the Agent and in such form, such amounts (but in any event at least $5,000,000) and against such risks as shall be consistent with large, creditworthy corporate insureds' practices and with insurers rated "A-" or better and with a financial rating of IX or better by A.M. Best & Co. (or other insurer reasonably satisfactory to Lessor and the Agent). Notwithstanding the provisions of this paragraph the Lessee may self insure, by means of deductibles or otherwise, against the risks referred to in this paragraph in an annual aggregate (or, if such policies containing aggregate annual deductibles are not commercially available on reasonable terms, per occurrence) amount not in excess of $100,000.
Insurance Against Public Liability and Property Damage. The Mortgagor will maintain or cause to be maintained in effect, with insurers satisfactory to the Mortgagee, insurance policies with respect to the Mortgaged Property, insuring against liability for loss or damage to the Person or property of others from such risks and in such amounts as are customarily carried by companies owning property of a similar character and engaged in a business similar to that engaged in by the Mortgagor; provided, however, that in no event shall the insurance maintained in accordance with this paragraph be less than an aggregate of $25,000,000 for claims arising out of a single occurrence and not less then $25,000,000 in the aggregate for all claims made in any policy year. All such insurance shall protect the Mortgagee and the Mortgagor in respect of risks arising out of the condition, maintenance, use, ownership or operation of the Mortgaged Property. The Mortgagor will indemnify the Mortgagee and holders of the Noes from any and all liability imposed against said Mortgagee and holders of the Notes arising out of the condition, maintenance, use, ownership or operation of the Mortgaged Property.
Insurance Against Public Liability and Property Damage. The Grantor will maintain or cause to be maintained in effect, with insurers satisfactory to the Indenture Trustees, insurance policies with respect to the Granted Property, insuring against liability for loss or damage to the Person or property of others from such risks and in such amounts as are customarily carried by companies owning property of a similar character and engaged in a business similar to that engaged in by the Grantor; provided, however, that in no event shall the insurance maintained in accordance with this paragraph be less than an aggregate of $25,000,000 for claims arising out of a single occurrence and not less than $25,000,000 in the aggregate for all claims made in any policy year. All such insurance shall protect the Indenture Trustees and the Grantor in respect of risks arising out of the condition, maintenance, use, ownership or operation of the Granted Property. The Grantor will indemnify the Indenture Trustees and the holders of the Notes from any and all liability imposed against said Indenture Trustees and the holders of the Notes arising out of the condition, maintenance, use, ownership or operation of the Granted Property.
Insurance Against Public Liability and Property Damage. The Borrower will maintain in effect, with insurers reasonably satisfactory to the Lender, insurance with respect to Public Liability and Property Damage which it would, in the prudent management of its operations, maintain; provided, however, that in no event shall the insurance maintained in accordance with this subsection 2.10 (b) be less than $2,000,000 under a single limit liability for each loss; and provided, further, that such insurance may provide for a deductible amount not to exceed $5,000.00. The Borrower shall cause the insurers with whom it maintains such insurance to advise the Lender in writing promptly of any default in the payment of any premiums or any other act or omission on the part of the Borrower of which they have knowledge and which might invalidate or render unenforceable, in whole or in part, any such insurance. The Borrower shall also cause such insurers to advise the Lender in writing, at least thirty (30) days prior thereto, of the expiration or termination of any such insurance.
