Insurance and Risk of Loss Clause Samples
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Insurance and Risk of Loss. Debtors shall at all times bear all risk of loss, damage to or destruction of the Collateral. Debtors agree to procure forthwith and maintain insurance on the Inventory, for the full insurable value thereof and for the life of this Agreement, in the form of Fire Insurance with Extended Coverage or Combined Additional Coverage, as appropriate, and Collision, Theft and/or Vandalism and Malicious Mischief Coverage when appropriate, plus such other insurance as Secured Party may specify from time to time, all in form and amount and with insurers satisfactory to Secured Party. Debtors agree to deliver promptly to Secured Party certificates, or if requested, policies of insurance satisfactory to Secured Party, each with a standard long-form loss-payable endorsement naming Secured Party or assigns as loss-payee as their interests may appear. Each policy shall provide that Secured Party’s interest therein will not be invalidated by the acts, omissions or neglect of anyone other than Secured Party, and will contain insurer’s agreement to give 30 days prior written notice to Secured Party before the cancellation of or any material change in the policy will be effective as to Secured Party, whether such cancellation or change is at the direction of Debtors or insurer. Secured Party’s acceptance of policies in lesser amounts or risks will not be a waiver of a Debtor’s foregoing obligation. Debtors assign to Secured Party all proceeds of such insurance, including returned and unearned premiums, not to exceed the sum of all amounts payable pursuant hereto. Debtors direct all insurers to pay such proceeds directly to Secured Party.
Insurance and Risk of Loss. All risk of loss, damage or destruction of the Equipment will at all times be on Borrower. Borrower agrees to maintain, at Borrower’s expense: (a) property insurance, or other insurance acceptable to Lender, protecting the Equipment from loss or damage by fire, theft and other customary risks for the greater of the Equipment’s replacement coat or the indebtedness with a deductible not to exceed $2,500 per item of Equipment, naming Lender as a loss payee on a “Lender’s Loss Payable” endorsement; and (b) liability insurance in an amount not less than $1,000,000 per occurrence (collectively “Required Insurance”). Borrower male provide Lender satisfactory written evidence of Required Insurance within thirty (30) days of the commencement date of this agreement, the cancellation or expiration of such Required Insurance, or of any subsequent written request from Lender. If Borrower does not do so, Lender may obtain insurance from an Insurer of Lender’s choosing in such forms and amounts as Lender deems reasonable to protect Lender’s interests (collectively, “Lender’s Insurance”). Lender’s insurance will cover the Equipment and the Lender; it will not name Borrower as an insured and may not cover all of the Borrower’s interest in the Equipment. Borrower agrees to pay Lender periodic charges for Lender’s Insurance (collectively, “Insurance Charges”) that include: a premium that may be higher than if the Borrower maintained the Required Insurance separately; a finance charge of up to 1.5% per month on any advances made by Lender or Lender’s agents; and commissions, and billing and processing fees; any or all of which may generate a profit to Lender and Lender’s agents. If Borrower falls to provide satisfactory evidence of Required Insurance by the due date, Lender may pay Insurance Charges by debiting Borrower’s account under any previously authorized automatic payment. Lender shall discontinue billing or debting Insurance Charges upon receipt of satisfactory evidence or Required Insurance. Borrower shall immediately notify Lender of any loss or damage to Equipment which makes any item of Equipment unfit for continued or repairable use. Borrower hereby irrevocably appoints Lender as Borrower’s attorney-in-fact to execute and endorse all checks or drafts in Borrower’s name to collect under any insurance covering Equipment. Lender may apply insurance proceeds to the Obligations or any other obligation of Borrower to Lender as Lender deems appropriate.
Insurance and Risk of Loss. In all events, Supplier shall be responsible to insure such Items during transport up to at least the Contract Price of such Item. Supplier shall be responsible for the risk of loss to Items until delivered to the applicable destination point and accepted by Tesla. In addition, Supplier’s responsibility for risk of loss continues with respect to any Items rejected by Tesla, or as to any Items for which acceptance is revoked, except if such loss is caused by the negligence or willful misconduct of Tesla’s employees.
Insurance and Risk of Loss. Borrower will at all times bear all risk of loss of, damage to or destruction of the Collateral. Borrower agrees to immediately procure and maintain insurance on the Collateral for the full insurable value thereof and for the life of this Agreement, containing the same or similar provisions as the insurance policies in place on the Closing Date in the form of "All Risk" or similar insurance (insuring the Collateral for fire, extended coverage, vandalism, theft and collision and containing only those exclusions from coverage which are acceptable to CitiCapital) plus such other insurance as CitiCapital may specify from time to time, all in form and amount and with such insurers satisfactory to CitiCapital. Borrower agrees to deliver promptly to CitiCapital certificates or, if requested, policies of insurance satisfactory to CitiCapital, each with a standard long-form loss-payable endorsement naming CitiCapital or its assigns as loss payee and providing that CitiCapital's rights under such policy will not be invalidated by any act, omission or neglect of anyone other than CitiCapital, and containing the insurer's agreement to give 30 days prior written notice to CitiCapital before any cancellation of or material change in the policy(s) will be effective as to CitiCapital, whether such cancellation or change is at the direction of Borrower or insurer. CitiCapital's acceptance of policies in lesser amounts or risks will not be a waiver of Borrower's obligation to procure insurance complying with the provisions hereof promptly after notice from CitiCapital. Borrower assigns to CitiCapital all proceeds of any physical damage or credit insurance that is maintained by Borrower in accordance herewith, including returned and unearned premiums, up to the amount owing hereunder by Borrower. Borrower directs all insurers to pay such proceeds solely to the order of CitiCapital for application to Borrower's indebtedness to CitiCapital in a manner determined by CitiCapital in its sole discretion.
Insurance and Risk of Loss. Successful Respondent shall continuously maintain the insurance coverages set forth in Attachment B Insurance and Risk of Loss. This attachment contains provisions or other information applicable to Successful Respondent’s obligations respecting insurance and to the Parties' allocation of certain risks of loss.
Insurance and Risk of Loss. Upon delivery of the Equipment at the Worksite, and until Acceptance of the Equipment, Purchaser shall, at its expense, take out and maintain "installation floater" insurance in an amount at least equal to the Purchase Price covering all risks of loss of the Equipment and any and all associated expenses. Such installation floater insurance shall name Seller as an insured party and shall provide for an insurer's waiver of subrogation in favor of all insured parties. Upon Acceptance of the Equipment, Purchaser shall be responsible for and shall bear any and all risk of loss or damage to the Equipment except as may otherwise be provided for in this Sales Agreement. Notwithstanding the foregoing, this Article 9 does not apply when Worksite is Seller's Plant.
Insurance and Risk of Loss. Service Provider shall continuously maintain the insurance coverages set forth in Exhibit 24. Exhibit 24 contains provisions or other information applicable to Service Provider's obligations respecting insurance and to the Parties' allocation of certain risks of loss.
Insurance and Risk of Loss. Upon delivery of all or any part of the Equipment in accordance with the terms of the Agreement, Buyer shall, at its expense, obtain and maintain “installation floater” insurance in an amount at least equal to the portion of the Price not yet paid by the Buyer, covering all risks of damage to or loss of the Equipment and any and all associated expenses. Such installation floater insurance shall name Seller as an insured party and Buyer shall be responsible for and shall bear any and all risk of loss or damage to the Equipment following delivery in accordance with the terms of the Agreement.
Insurance and Risk of Loss. 73 16.1 Insurance ............................................................................................................................................................ 73 16.2
Insurance and Risk of Loss. Insurance - OxygenToGo® does not insure the equipment during the period it is rented to the customer. The customer may elect to obtain, at higher expense, insurance covering the Equipment during the term of the rental. Optional Insurance coverage excludes loss due to shipping error or loss due to confiscation of Equipment by foreign government officials or by acts of terrorism. OxygenToGo® reserves the right to refuse insurance coverage in the event the equipment would be transported to a “high risk” area. An example of a “high risk” area would be transporting Equipment to Cuba.