Licensor Insurance Coverage Clause Samples

The Licensor Insurance Coverage clause requires the licensor to maintain specific types and amounts of insurance during the term of the agreement. Typically, this includes general liability, professional liability, or other relevant coverage, and may require the licensor to provide proof of insurance or name the licensee as an additional insured. The core function of this clause is to protect the licensee from potential losses or liabilities arising from the licensor’s activities, ensuring that adequate financial resources are available to address claims or damages.
Licensor Insurance Coverage. Licensor shall, from and after the Commencement Date, maintain at its expense in force the following minimum insurance: (a) Property insurance for the full one hundred percent (100%) of replacement cost of the Arena, including all improvements, and betterments and personal property owned by Licensor. Coverage shall be on an All Risk of physical loss or damage basis, including losses arising out of a terrorism event, and shall include business interruption and loss of rental income coverages in reasonable and customary amounts with customary deductibles; (b) Commercial general liability insurance covering against bodily injury and property damage having a limit of not less than $[*****] for each occurrence and a limit of not less than $[*****] in the aggregate for each occurrence. Coverages shall be in accordance with the ISO form or equivalent, for response to any occurrence in and about the Arena.. Such insurance shall include, but not be limited to, premises operations, products and completed operations, personal injury, advertising injury and independent contractors and containing provisions for separation of insureds or severability of interests. For so long as Licensor and the Knicks are under common control, coverage under the Licensor’s policy shall be in excess to any insurance required of the Knicks. The Licensor’s GL Policy shall be in such amount and with such policy limits so that the coverage and limits are adequate to maintain the Licensor’s Excess/Umbrella Policy without gaps in coverage between the Licensor’s GL Policy and the Licensor’s Excess/Umbrella Policy; (c) Umbrella or excess liability coverage, following the terms, conditions, and extensions of coverages, to apply over and above the primary coverages in subsection (b), and the employer’s liability coverage in subsection (d), in an amount not less than $[*****] in the aggregate; (d) Employer’s liability insurance with the following minimum limits: bodily injury by accident – $[*****] each accident; bodily injury by disease – $[*****] policy limit and $[*****] each employee; (e) Statutory worker’s compensation coverage; (f) Disability insurance as required by the State of New York.
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Licensor Insurance Coverage. Licensor shall, from and after the Commencement Date, maintain at its expense in force the following minimum insurance: (a) Property insurance for the replacement cost of the Arena, including all equipment, improvements and betterments owned by Licensor. Coverage shall be on an All Risk of physical loss or damage basis, including losses arising out of a terrorism event; (b) Employer’s liability insurance with the following minimum limits: bodily injury by accident - $[*****] each accident; bodily injury by disease - $[*****] policy limit and $[*****] each employee; (c) Statutory worker’s compensation coverage; (d) Disability insurance as required by the State of New York; (e) Commercial general liability insurance covering against bodily injury and property damage having a limit of not less than $[*****] for each occurrence and a limit of not less than $[*****] in the aggregate for each occurrence. Coverages shall be in accordance with the ISO form or equivalent. Such insurance shall include, but not be limited to, contractual liability, premises operations, products, completed operations, personal injury, advertising injury, bodily injury and property damage; (f) Liquor liability insurance coverage having limits of not less than $[*****] for each common cause and in the aggregate; (g) Automobile liability insurance coverage for bodily injury and property damage with a combined single limit of no less than $[*****]; (h) Umbrella or excess liability coverage, following the terms, conditions, and extensions of coverages, to apply over the employer’s liability coverage in subsection (b) and above the primary coverages (e), (f) and (g), in an amount not less than $[*****] in the aggregate; (i) Employment practices liability insurance with minimum limits of $[*****]; (j) Media liability policy with limits of no less than $[*****] per claim/$[*****] aggregate. The liability insurance referred to in this Section 14.05, in paragraphs (e) and (h), shall include the Rangers and its Affiliates, and each of their respective directors, officers, employees, agents, successors and assigns, as additional insureds for claims arising in connection with Licensor’s operations. However, the insurance referred to in this Section 14.05 will be in excess of any insurance purchased and maintained by the Rangers. The Rangers shall also have the right to require Licensor, from time to time, to increase the scope and limits of any insurance coverage required to be carried herein, so ...
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Licensor Insurance Coverage. (a) Licensor shall obtain and keep in force at all times during the Term such insurance coverages as are required of Licensor under the Master Lease. All such insurance shall be primary insurance and shall provide that any right of subrogation against Licensor or Licensee and their successors and assigns is waived. (b) There shall be no charge to Licensee for such coverage and a certificate of insurance evidencing such coverage shall be furnished to Licensee prior to the expiration of the then current policy. Said policy of insurance and endorsements shall provide that the policy of insurance cannot be canceled without thirty (30) days’ prior written notification to Licensee. Said insurance shall not restrict or limit the coverage of the foregoing additional insureds. (c) All such insurance shall be effected by valid and enforceable policies issued by insurers of responsibility, approved to do business in the State of Nevada, such responsibility and the insuring agreements to meet with the reasonable approval of Licensee. All insurance policies shall comport with the State of Nevada Department of Administration requirements. An insurer with a current A.M. Best rating of at least A (excellent) with a financial size category of at least “X” shall be deemed to be acceptable. Receipt by Licensee of a certificate of insurance, endorsement or policy of insurance which is more restrictive than the contracted for insurance shall not be construed as a waiver or modification of the agreement to modify same permissible or binding. Any agreement to amend this provision of this Agreement must be in writing signed by the Parties.
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Related to Licensor Insurance Coverage

  • Insurance Coverages The Consultant shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City: (a) General Liability Insurance (Occurrence Form CG0001 or equivalent). A policy of comprehensive general liability insurance written on a per occurrence basis for bodily injury, personal injury and property damage. The policy of insurance shall be in an amount not less than $1,000,000.00 per occurrence or if a general aggregate limit is used, then the general aggregate limit shall be twice the occurrence limit.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below or on a facultative basis, subject to the requirements set forth in Section B below. The specifications for all reinsurance under this Agreement are provided in Schedule A. A. Requirements for Automatic Reinsurance For risks which meet the requirements for automatic reinsurance as set forth below, Reinsurer will participate in a reinsurance pool whereby Reinsurer will automatically reinsure a portion of the insurance risks as indicated in Schedule A. The requirements for automatic reinsurance are as follows: 1. Each life must be a resident of the United States or Canada at the time of application. 2. Each life must be underwritten according to the Ceding Company's standard underwriting practices and guidelines. Any life falling into the category of special underwriting programs will be excluded from this Agreement unless previously agreed to by the Reinsurer via a written amendment. 3. Any risk offered on a facultative basis by the Ceding Company to the Reinsurer or any other company will not qualify for automatic reinsurance under this Agreement for the same risk and same life. 4. The maximum issue age on any risk will be age 85. 5. The mortality rating on each risk must not exceed Table 16, Table P, or 500%, or its equivalent, as shown in the Ceding Company's retention schedule, on a flat extra premium basis. However, one life may be uninsurable if the other life meets the preceding requirements. 6. The total face amount of insurance for the Plans of Insurance in Schedule A to be reinsured on an automatic basis must not exceed the Automatic Issue Limits in Exhibit II. 7. The total amount of insurance issued and applied for in all companies on each life must not exceed the jumbo limits as stated in Exhibit II. 8. The Ceding Company shall retain it's maximum limit of retention for the age and risk classification of each life, as shown in Exhibit II, either on previous insurance or insurance currently applied for.

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

  • Insurance Cover Without prejudice to the provisions contained in Clause 26.1, the Concessionaire shall, during the Operation Period, procure and maintain Insurance Cover including but not limited to the following: (a) Loss, damage or destruction of the Project Assets, including assets handed over by the Authority to the Concessionaire, at replacement value; (b) Comprehensive third party liability insurance including injury to or death of personnel of the Authority or others caused by the Project; (c) The Concessionaire’s general liability arising out of the Concession; (d) Liability to third parties for goods or property damage; (e) Workmen’s compensation insurance; and (f) any other insurance that may be necessary to protect the Concessionaire and its employees, including all Force Majeure Events that are insurable at commercially reasonable premiums and not otherwise covered in items(a) to (e) above.