Insurance Indemnity Clause Samples
The Insurance; Indemnity clause requires one or both parties to maintain specified insurance coverage and outlines the obligation to compensate the other party for certain losses or damages. Typically, this clause details the types and minimum amounts of insurance required, such as general liability or professional indemnity, and describes the process for making indemnity claims, including any exclusions or limitations. Its core function is to allocate risk between the parties, ensuring that financial responsibility for potential losses is clearly defined and that adequate resources are available to cover such risks.
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Insurance Indemnity. (a) During the Term of this Lease, Tenant shall at all times keep the Facility insured with the kinds and amounts of insurance described below. This insurance shall be written by companies to do insurance business in the State of Indiana. The policies must name Landlord as an additional insured. Losses shall be payable to Landlord and Tenant as provided in Section 11(e) below. In addition, the policies shall name as an additional insured any mortgagee by way of a standard form of mortgagee's loss payable endorsement. Any loss adjustment shall require the written consent of Landlord, Tenant, and each mortgagee. Evidence of insurance shall be deposited with Landlord and, if requested, with any mortgagee(s). The insurance policies shall provide thirty (30) days notice of cancellation to all parties named therein as insured. The policies on the Facility shall insure against the following risks:
(i) Loss or damage by fire and such other risks as may be included in the broadest form of extended coverage insurance from time to time available, including but not limited to loss or damage from leakage of any sprinkler system now or hereafter installed in the Facility or on the Facility, in amounts sufficient to prevent Landlord or Tenant from becoming a co-insurer within the terms of the applicable policies and in any event in an amount not less than one hundred percent (100%) of the then full replacement value thereof (as defined below in Paragraph (b));
(ii) Loss or damage by explosion of steam boilers, pressure vessels or similar apparatus, now or hereafter installed in the Facility, in such limits with respect to any one accident as may be reasonably agreed by Landlord and Tenant from time to time;
(iii) Claims for personal injury or property damage under a policy of general public liability insurance with amounts not less than One Million Dollars ($1,000,000) per occurrence in respect of bodily injury, Two Million and No/100 Dollars ($2,000,000.00) aggregate per occurrence, and Three Hundred Thousand and No/100 Dollars ($300,000.00) for property damage;
(iv) Claims arising out of malpractice in an amount not less than One Million and No/100 Dollars ($1,000,000.00) for each person and for each occurrence;
(v) Such other hazards and in such amounts as may be customary for comparable properties in the area and is available from insurance companies authorized to do business in the State of Indiana.
(vi) Business interruption insurance covering a risk of loss during...
Insurance Indemnity. (a) Purchaser will cause the Surviving Corporation to purchase a six year pre-paid noncancellable directors and officers insurance policy covering the current and all former directors, officers and similar persons of the Company and its Subsidiaries, with respect to acts or failures to act prior to the Effective Time, in a single aggregate amount over the six-year period immediately following the Closing Date equal to the policy limit for the Company's current directors and officers insurance policy as of the date hereof (the "Current Policy"). If such insurance is obtainable at an annual cost per -------------- covered year not in excess of 200% of the annual premium paid by the Company for the Current Policy (the "Cap"), then Purchaser will cause the Surviving --- Corporation to purchase policies providing (or Purchaser will modify its existing policies to provide for) at least the same coverage as the Current Policy and containing terms and conditions no less advantageous to the current and former directors, officers and similar persons of the Company and its Subsidiaries than the Current Policy with respect to acts or failures to act prior to the Effective Time; provided, however, that Purchaser and the Surviving -------- ------- Corporation shall not be required to obtain policies providing such coverage except to the extent that such coverage can be provided at an annual cost of no greater than the Cap; and, if equivalent coverage cannot be obtained, or can be obtained only by paying an annual premium in excess of the Cap, Purchaser or the Surviving Corporation shall only be required to obtain as much coverage as can be obtained by paying an annual premium equal to the Cap.
(b) Purchaser shall cause the Surviving Corporation to keep in effect in its bylaws provisions for a period of not less than six years from the Effective Time (or, in the case of matters occurring prior to the Effective Time that have not been resolved prior to the sixth anniversary of the Effective Time, until such matters are finally resolved) that provide for exculpation of director and officer liability and indemnification (and advancement of expenses related thereto) of the past and present officers and directors of the Company and its Subsidiaries to the fullest extent permitted by the DGCL, which provisions shall not be amended except as required by applicable law or except to make changes permitted by law that would enhance the rights of past or present officers and direct...
Insurance Indemnity. (a) Lessee hereby agrees to indemnify, defend and hold harmless Lessor, its successors, assigns, subsidiaries, directors, officers, agents and employees ("Lessor Parties") from and against any and all damage, loss, liability or expense including, but not limited to, attorney's fees and legal costs suffered by same directly or by reason of any claim, suit or judgment brought by or in favor of any person or persons for damage, loss or expense due to, but not limited to, bodily injury, including death resulting anytime therefrom, and property damage sustained by such person or persons which arises out of, is occasioned by or attributable to the use or occupancy of the Premises by Lessee or any Lessee Parties or other areas in any larger or adjacent property owned by Lessor, the acts or omission of the Lessee or any Lessee Parties (as that term is defined below) brought onto the Premises by Lessee, or any breach or default in the performance of any obligation on Lessee's part to be performed under the terms of this lease, except to the extent caused by the negligence or willful misconduct of Lessor or any Lessor Parties or the breach by Lessor of any of its obligations under this Lease, except to the extent that Lessee has assumed obligations under this Lease. If any action or proceeding is brought against Lessor or any Lessor Parties by reason of any such claim, Lessee, upon notice from Lessor, shall defend same at Lessee's expense by counsel satisfactory to Lessor. The foregoing indemnity shall not apply to matters for which Lessor indemnifies Lessee pursuant to The terms of this Lease, or to matters covered by the waiver of subrogation set forth in Paragraph 8(g). Except to the extent required to be insured pursuant to insurance required to be maintained by Lessee under the Lease (in which case Lessee shall assume full responsibility therefor) and subject to the last sentence of Paragraph 13.3 of this Lease, Lessor shall indemnify, protect, defend and hold Lessee and its successors, assigns, subsidiaries, directors, officers, agents and employees, licensees, invitees or permitees ("Lessee Parties") harmless from any liability, damages, costs, expenses, causes of action, claims or judgments, including reasonable attorneys' fees and court costs, arising from any act or omission of Lessor (or any Lessor Parties) (but only to the extent of such act or omission), in the performance of its obligations under the Lease when not the result of the act, omission or wi...
Insurance Indemnity. ENGINEER agrees to procure and maintain, at its expense, Workers' Compensation insurance as required by statute; Employer's Liability of $250,000; Automobile Liability insurance of $1,000,000 combined single limit for bodily injury and property damage covering all vehicles, including hired vehicles, owned and non-owned vehicles; Commercial General Liability insurance of $1,000,000 combined single limit for personal injury and property damage; and Professional Liability insurance of $1,000,000 per claim for protection against claims arising out of the performance of services under this Agreement caused by negligent acts, errors, or omissions for which ENGINEER is legally liable. If flying an Unmanned Aerial System (UAS or drone), ENGINEER will procure and maintain aircraft unmanned aerial systems insurance of $1,000,000 per occurrence. OWNER shall be made an additional insured on Commercial General and Automobile Liability insurance policies and certificates of insurance will be furnished to the OWNER. ENGINEER agrees to indemnify OWNER for third party personal injury and property damage claims to the extent caused by ENGINEER's negligent acts, errors or omissions. However, neither Party to this Agreement shall be liable to the other Party for any special, incidental, indirect, or consequential damages (including but not limited to loss of use or opportunity; loss of good will; cost of substitute facilities, goods, or services; cost of capital; and/or fines or penalties), loss of profits or revenue arising out of, resulting from, or in any way related to the Project or the Agreement from any cause or causes, including but not limited to any such damages caused by the negligence, errors or omissions, strict liability or breach of contract. The employees of both parties are intended third party beneficiaries of this waiver of consequential damages.
Insurance Indemnity. 16.1 The NZOC will arrange travel and public liability insurance for all members of the Team, a summary of which will be provided to you by the NZOC as soon as practicable.
16.2 You understand and acknowledge that:
(a) the NZOC (which for the purposes of this clause includes its members, officers, staff, support personnel, coaches and members of the Team) will not itself be liable to you for any loss, damage or injury of any kind to you or your property arising from or in connection with any act or omission of any person (including the NZOC) unless it arises as a direct result of a deliberate and wrongful act or omission by the NZOC; and
(b) you release and indemnify the NZOC from any actions, proceedings, claims and damages (including all legal costs and other expenses) which may be taken or made against the NZOC or incurred or become payable by the NZOC arising out of any breach by you of the terms of this Agreement or otherwise arising from any unlawful, reckless, criminal or negligent acts or omissions by you.
Insurance Indemnity. 16.1 The NZOC will arrange travel and public liability insurance for all members of the Team, a summary of which will be provided to you by the NZOC as soon as practicable.
16.2 You understand and acknowledge that:
(a) the NZOC release and indemnify you from any actions, proceedings, claims and damages (including all legal costs) which may be taken or made against you or incurred or become payable by you arising out of any breach by the NZOC of the terms of this Agreement or otherwise arising from any unlawful, reckless, criminal or negligent acts or omissions by the NZOC. The NZOC (which for the purposes of this clause includes its members, officers, staff, Team Support, coaches and members of the Team) will not itself be liable to you for any loss, damage or injury of any kind to you or your property arising from, or in connection with, any act or omission of any person (including the NZOC) unless it arises as a direct result of a deliberate and wrongful act or omission by the NZOC; and
(b) you release and indemnify the NZOC from any actions, proceedings, claims and damages (including all legal costs) which may be taken or made against the NZOC or incurred or become payable by the NZOC arising out of any breach by you of the terms of this Agreement or otherwise arising from any unlawful, reckless, criminal or negligent acts or omissions by you. You will not be liable to the NZOC for any loss or damage of any kind to the NZOC or its property arising from, or in connection with, any act or omission of any person unless it arises as a direct result of a deliberate and wrongful act or omission by you.
Insurance Indemnity. 6.1 County Obligations
6.2 Lessor Obligations
6.3 Mutual Obligations
Insurance Indemnity. (a) Tenant covenants and agrees that from and after the earlier of the commencement of this Lease or the date of delivery of the premises from Landlord to Tenant, Tenant will carry and maintain, at its sole cost and expense and in the amounts specified and in the form hereinafter provided, the following types of insurance:
Insurance Indemnity. Executive shall be covered by the Company’s directors’ and officers’ liability insurance policy, and errors and omissions coverage, to the extent such coverage is generally provided by the Company to its directors and officers and to the fullest extent permitted by such insurance policies. Nothing herein is or shall be deemed to be a representation by the Company that it provides, or a promise by the Company to obtain, maintain or continue any liability insurance coverage whatsoever for its executives. In addition, the Company shall enter into its standard indemnity agreement by which Company commits to indemnify a Company officer in connection with claims, suits or proceedings arising as a result of Executive’ service to the Company.
Insurance Indemnity a. The Grantee shall maintain throughout the term of the Franchise insurance in amounts at least as follows: