Lessor’s Acquisition of Insurance Sample Clauses

Lessor’s Acquisition of Insurance. If Lessee at any time during the Term fails to procure or maintain insurance required hereunder or to pay the premiums therefor, Lessor shall have the right to procure the same and to pay any and all premiums thereon. Any amounts paid by Lessor in connection with the acquisition of insurance shall be immediately due and payable as additional rent, and Lessee shall pay to Lessor upon demand the full amount so paid and expended by Lessor, together with interest thereon at the Applicable Rate from the date of such expenditure by Lessor until repayment by Lessee.‌
Sample 1
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Lessor’s Acquisition of Insurance. If Lessee at any time during the Term of this Lease fails to procure or maintain such insurance or to pay the premiums therefore, Lessor shall have the right to procure such substitute insurance as Lessor deems appropriate (but shall be under no obligation to do so) and to pay any and all premiums thereon, and Lessee shall pay to Lessor upon demand the full amount so paid and expended by Lessor from the date of such expenditure by Lessor until repayment thereof by Lessee. Any policies of insurance obtained by Lessor covering physical damage to the Leased Premises shall contain a waiver of subrogation against Lessee if and to the extent such waiver is obtainable and if Lessee pays to Lessor on demand the additional costs, if any, incurred in obtaining such waiver. Any insurance or self- insurance procured or maintained by Lessor shall be excess coverage, non-contributory and for the benefit of the Lessor only.
Sample 1

Related to Lessor’s Acquisition of Insurance

  • TERMINATION OF INSURANCE A. Your policy will lapse if you do not pay your premium when due.

  • Disposition of Insurance Documents One original certificate of insurance with all endorsements attached must be deposited with Owner for each insurance policy required.

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

  • Continuation of Insurance All policies of insurance shall provide for at least 30 days prior written cancellation notice to the Secured Party. In the event of failure by the Debtor to provide and maintain insurance as herein provided, the Secured Party may, at its option, provide such insurance and charge the amount thereof to the Debtor. The Debtor shall furnish the Secured Party with certificates of insurance and policies evidencing compliance with the foregoing insurance provision.

  • Required Evidence of Insurance i. Copy of the additional insured endorsement or policy language granting additional insured status; and

  • Maintenance/Cancellation of Insurance There will be no cancellation or reduction of coverage of any required insurance without thirty (30) days’ written notice to the Contractor. Such notice may be sent by the Subcontractor’s insurance carrier, insurance broker, or the Subcontractor.

  • Cancellation of Insurance There will be no cancellation or reduction of coverage of any required insurance without thirty (30) days’ written notice to the Contractor. Such notice may be sent by the Subcontractor’s insurance carrier, insurance broker, or the Subcontractor. Waiver of Subrogation. Subcontractor waives all rights against Contractor, Client, other subcontractors, and their agents.

  • Evidence of Insurance Receipt by the Administrative Agent of copies of insurance policies or certificates of insurance of the Loan Parties evidencing liability and casualty insurance meeting the requirements set forth in the Loan Documents, including, but not limited to, naming the Administrative Agent as additional insured (in the case of liability insurance) or loss payee (in the case of hazard insurance) on behalf of the Lenders.

  • Duration of Insurance Contribution An employee is eligible for School District contributions as provided in this Article as long as an employee is employed by the School District. Employees whose employment terminates during the school year will be eligible for insurance and district contributions to insurance through the end of the month in which they terminate provided they pay the employee portion of the insurance premium for that month. Otherwise, the employee’s insurance will terminate as of the last day of employment.

  • MAINTENANCE OF INSURANCE COVERAGE Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

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