LOSS, DAMAGE AND INSURANCE Sample Clauses

LOSS, DAMAGE AND INSURANCE. The Lessee is responsible for and accepts the risk of loss or damage to the equipment. The Lessee agrees to keep the equipment insured against all risks of loss or damage in amounts payable to the Lessor which will equal the list price of the equipment on the date this agreement becomes effective. The Lessee will name Justram Equipment Inc. as an additional insured and provide written proof of insurance. If no proof is provided, as an attachment, with a signed copy of these terms and conditions the Lessee, by the fact of accepting these terms and conditions agrees, in the event of loss or damage, to pay the Lessor the amount equal to the list price of the equipment rented or repair costs that include new parts plus labor charges to restore the equipment to the specifications published by the manufacturer. In the event of total loss, the rental shall cease effective the date of notification of loss to the Lessor. The final settlement covering the loss will address any rental accrued between the time of notification of loss to the Lessor and the date of the settlement
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LOSS, DAMAGE AND INSURANCE. (a) Zokal will maintain current insurance policies in respect of the Equipment to its full insurable value.
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LOSS, DAMAGE AND INSURANCE. You are fully liable for any damage to Equipment during the Rental Period. If Equipment is returned in a damaged, unclean, or defective state, You will pay Cisco for the cost of repair or cleaning necessary. In the event any Equipment is lost, stolen or damaged during the Rental Period, You will fully compensate Cisco for replacement and/or repair costs, administration charges and lost rental income for the time of repair or re-acquisition. Cisco will use reasonable commercial efforts to procure repairs or replacement for Equipment as quickly as possible to mitigate charges to You. You will bear responsibility for, and will defend, indemnify, and hold Cisco harmless for, any third-party claims against Cisco for bodily injury and/or property damage that You cause from an accident involving the Equipment. In no event will Cisco or its officers, directors, employees, or suppliers be liable for any amounts or damages, actions or claims related to any direct, indirect, consequential, or punitive damages (including loss of business or profits or lost or damaged data) arising out of or in connection with the rental or use of the Equipment. You will compensate, indemnify, and hold harmless Cisco from all claims, liabilities, damages, losses, and expenses arising out of or in connection with the rental or use of any of the Equipment.
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LOSS, DAMAGE AND INSURANCE. 1. The Client shall be responsible throughout the Period of Hire for the maintenance and safe custody of the Equipment.
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LOSS, DAMAGE AND INSURANCE. As between the Parties, Lessee accepts all risks of loss and damage to the Equipment (“Loss”) from the shipment of the Equipment, if applicable, to Lessee until returned to Lessor. Lessee Must notify Lessor immediately if there is any Loss and Lessor will demand that Lessee either (a) repair or replace the Equipment or (b) pay Lessor the “Stipulated Loss Value” which is the sum of (i) all Rent and other amounts due, and currently owed to Lessor under the Lease, including unpaid taxes, (ii) all future Rent payments that would accrue over the remaining Lease Term plus Lessor’s estimated value of the residual interest of all of the Equipment at the end of the Lease Term, such sum to be discounted to present value at a discount rate equal to the Federal Reserve Bank Discount Rate in effect at the date of this Agreement and (iii) any costs and expenses incurred as a result of this event. For the Lease Term set forth above, Lessee will maintain property casualty insurance in an amount equal to the replacement value of the Equipment naming Lessor as loss payee and public liability and third party property damage insurance naming Lessor as an additional insured. At Lessor’s request, Lessee will deliver the policies or certificates of insurance to Lessor. If Lessee does not give Lessor evidence of insurance we may obtain such insurance and charge Lessee for the cost. The foregoing policies shall provide that it may not be cancelled or materially altered without at least 30 days’ prior written notice to Lessor.
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LOSS, DAMAGE AND INSURANCE. 8.1 Loss or Damage, Restoration and Rebuilding, Expropriation.
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Related to LOSS, DAMAGE AND INSURANCE

  • Maintenance of Liability Insurance (a) The Company hereby covenants and agrees that, as long as the Indemnitee continues to serve as a director and/or officer of the Company and thereafter as long as the Indemnitee may be subject to any possible Proceeding, the Company, subject to subsection (c), shall promptly obtain and maintain in full force and effect directors' and officers' liability insurance ("D&O Insurance") in reasonable amounts from established and reputable insurers.

  • Liability and Insurance 7.1 Workers’ Compensation Insurance. The Contractor shall maintain workers’ compensation insurance as required under the Florida Workers’ Compensation Law or the workers’ compensation law of another jurisdiction where applicable. The Contractor must require all subcontractors to similarly provide workers’ compensation insurance for all of the latter’s employees. In the event work is being performed by the Contractor under the Contract and any class of employees performing the work is not protected under Workers’ Compensation statutes, the Contractor must provide, and cause each subcontractor to provide, adequate insurance satisfactory to the Department, for the protection of employees not otherwise protected.

  • PREMISES PARTIAL DAMAGE - INSURED LOSS If Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee-Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect. In the event, however, that there is a shortage of insurance proceeds and such shortage is due to the fact that, by reason of the unique nature of the improvements in the Premises, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10) day period, Lessor shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If Lessor does not receive such funds or assurance within said period, Lessor may nevertheless elect by written notice to Lessee within ten (10) days thereafter to make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect. If Lessor does not receive such funds or assurance within such ten (10) day period, and if Lessor does not so elect to restore and repair, then this Lease shall terminate sixty (60) days following the occurrence of the damage or destruction. Unless otherwise agreed, Lessee shall in no event have any right to reimbursement from Lessor for any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3 rather than Paragraph 9.2, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

  • Partial Damage - Insured Loss If a Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at Lessor's election, make the repair of any damage or destruction the total cost to repair of which is $10,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee's responsibility) as and when required to complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10) day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee within ten (10) days thereafter to: (i) make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect, or have this Lease terminate thirty (30) days thereafter. Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

  • Maintenance of Property and Insurance Until the End Date, the Company shall keep all of its property, which is necessary or useful to the conduct of its business, in good working order and condition, ordinary wear and tear excepted. Until the End Date, the Company will maintain insurance coverage of the type and not less than the amount in effect as of the Closing Date.

  • Indemnity and Insurance 24.1 The Contractor shall indemnify the Authority against all claims, damages and any other liabilities which may arise as a result, directly of the performance or purported performance of this Contract, the aggregate liability not to exceed [£5.000.000], except to the extent that any injury, loss or damage is caused by the negligence, wilful misconduct or breach of the Contract by Authority Personnel

  • Physical Damage Insurance The Servicer shall, in accordance with its customary servicing procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Equipment as of the execution of the Receivable.

  • Public Liability and Property Damage Insurance A. During the term of this Agreement, Contractor shall at all times maintain, at its expense, the following coverages and requirements. The comprehensive general liability insurance shall include broad form property damage insurance.

  • Indemnities and Insurance The indemnities and insurance requirements set forth in Articles 16 and 17, respectively, will apply to Indemnitees and LESSOR's representatives during return of the Aircraft, including the ground inspection and acceptance flight. With respect to the acceptance flight, LESSOR's representatives will receive the same protections as LESSOR on LESSEE's Aviation and Airline General Third Party Liability Insurance.

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