Modifications to Insurance Coverage Sample Clauses

Modifications to Insurance Coverage. The Majority Lenders and the Administrative Agent may at any time amend the requirements of paragraphs (b), (c) and (d) of this Section 8.05 and the related Schedule 8.05 (unless specifically provided otherwise in Schedule 8.05) upon a change in circumstances with respect to the Project arising after the Closing Date that in the reasonable judgment of the Majority Lenders, the Administrative Agent and the Independent Insurance Consultant renders the coverage specified therein materially inadequate; provided, that such change in or additional coverage shall be commercially available at reasonable terms. 91
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Modifications to Insurance Coverage. The Required Lenders may at any time amend the requirements of Section 7.9(a), (b) and (c) upon (i) new information becoming known to the Lenders that was not known by the Lenders on the Closing Date or (ii) a material change in circumstances arising after the Closing Date that, in either case, in the reasonable judgment of the Required Lenders renders the coverage provided for therein materially inadequate; PROVIDED that (i) if the Obligors dispute that such amendments are required, the parties shall consult with an independent insurance consultant selected by the Obligors and the Administrative Agent (or, if no agreement can be reached on such selection, shall consult with the Insurance Consultant, acting independently) and such insurance consultant shall determine whether such amendments are reasonably required. Notwithstanding the foregoing, the Obligors shall not be required to obtain any insurance otherwise required as a result of an amendment to the requirements of Section 7.9(a), (b) or (c), if such insurance is not available on commercially reasonable terms.
Sample 1
Modifications to Insurance Coverage. The Administrative Agent (acting at the direction of the Majority Lenders) may at any time amend the requirements of paragraphs (b), (c) and (d) of this Section 8.05 and the related Schedule 8.05 (unless specifically provided otherwise in Schedule 8.05), and shall provide prior written notice thereof to the Borrower, upon a change in circumstances with respect to the Project arising after the Closing Date that in the reasonable judgment of the Majority Lenders and the Independent Insurance Consultant renders the coverage specified therein materially inadequate for the Project; provided, that such change in or additional coverage shall be commercially available at reasonable terms.
Sample 1
Modifications to Insurance Coverage. The Majority Lenders (in consultation with the Insurance Consultant) may at any time and in consultation with the Borrower propose an amendment to the requirements of this Section 9.1(j) and the insurance requirements in Exhibit C (Form of Xxxxxxxx Islands Mortgage) and after execution thereof, the Mortgage, upon a change in circumstances with respect to the Project arising after the Closing Date that in the reasonable judgment of the Majority Lenders and the Insurance Consultant renders the coverage specified therein materially inadequate and such amendment shall require the Borrower’s consent in accordance with the terms hereof, such consent not to be unreasonably withheld taking into consideration the prudent practices of vessel owners and operators primarily engaged in the same type of operations as the Borrower; provided that any such request for change in or additional coverage shall be commercially available at reasonable terms.
Sample 1
Modifications to Insurance Coverage. If during the Term (i) any of the types of insurance policies or the requirements related to the insurance policies required under this Article 9 are no longer available on commercially reasonable terms or (ii) it becomes commercially reasonable to obtain additional insurance coverage not specified in this Article 9 or to modify the terms of any coverages specified in this Article 9, then upon written notice of either party, the parties shall attempt to negotiate in good faith changes to this Article 9. If the parties are unable to agree on whether changes to this Article 9 are appropriate, the matter shall be resolved pursuant to Paragraph 17.9.
Sample 1

Related to Modifications to Insurance Coverage

  • Insurance Coverages The Company shall procure and maintain in full force and effect throughout the Term of this Agreement insurance coverages of the following types and amounts and with insurance companies rated not less than A- by A.M. Best, or otherwise equivalent in respect of the Company’s properties and operations:

  • 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.

  • No Defense to Insurance Coverage No action has been taken or failed to be taken, no event has occurred and no state of facts exists or has existed on or prior to the Purchase Date (whether or not known to Seller on or prior to such date) which has resulted or will result in an exclusion from, denial of, or defense to coverage under any private mortgage insurance (including, without limitation, any exclusions, denials or defenses which would limit or reduce the availability of the timely payment of the full amount of the loss otherwise due thereunder to the insured) whether arising out of actions, representations, errors, omissions, negligence, or fraud of Seller, the related Mortgagor or any party involved in the application for such coverage, including the appraisal, plans and specifications and other exhibits or documents submitted therewith to the insurer under such insurance policy, or for any other reason under such coverage, but not including the failure of such insurer to pay by reason of such insurer’s breach of such insurance policy or such insurer’s financial inability to pay.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the 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, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

  • 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.

  • Insurance Covenants Lessee will:

  • 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.

  • Post-Termination Insurance Coverage (a) If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, or because of disability, the Bank shall continue or cause to be continued at the Bank’s expense medical and life insurance benefits for the Executive and any of his dependents covered at the time of his termination. The medical insurance benefits shall continue until the first to occur of (w) the Executive’s return to employment with the Bank or another employer, (x) the Executive’s attainment of age 65, (y) the Executive’s death, or (z) the end of the term remaining under this Agreement when the Executive’s employment terminates.

  • Special Coverages Tenant shall carry “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction of the Tenant Improvements, and such other insurance as Landlord may require, it being understood and agreed that the Tenant Improvements shall be insured by Tenant pursuant to the Lease immediately upon completion thereof. Such insurance shall be in amounts and shall include such extended coverage endorsements as may be reasonably required by Landlord, and in form and with companies as are required to be carried by Tenant as set forth in the Lease.

  • Maintenance of Primary Insurance Coverage (a) The Master Servicer shall not take, or permit any Subservicer to take, any action which would result in noncoverage under any applicable Primary Insurance Policy of any loss which, but for the actions of the Master Servicer or Subservicer, would have been covered thereunder. To the extent coverage is available, the Master Servicer shall keep or cause to be kept in full force and effect each such Primary Insurance Policy until the principal balance of the related Mortgage Loan secured by a Mortgaged Property is reduced to 80% or less of the Appraised Value at origination in the case of such a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80%, provided that such Primary Insurance Policy was in place as of the Cut-off Date and the Master Servicer had knowledge of such Primary Insurance Policy. The Master Servicer shall not cancel or refuse to renew any such Primary Insurance Policy applicable to a Nonsubserviced Mortgage Loan, or consent to any Subservicer canceling or refusing to renew any such Primary Insurance Policy applicable to a Mortgage Loan subserviced by it, that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for such canceled or non-renewed policy is maintained with an insurer whose claims-paying ability is acceptable to each Rating Agency for mortgage pass-through certificates having a rating equal to or better than the lower of the then-current rating or the rating assigned to the Certificates as of the Closing Date by such Rating Agency.

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