MUNICIPAL BOND INSURANCE PROVISIONS Sample Clauses

MUNICIPAL BOND INSURANCE PROVISIONS. Section 6.01 Notice and Other Information to be given to BAM 35 Section 6.02 Consent of BAM 35 Section 6.03 Insolvency 36 Section 6.04 Control by BAM Upon Default 36 Section 6.05 BAM as Owner 36 Section 6.06 Consent of BAM for Acceleration 36 Section 6.07 Grace Period for Payment Defaults 36 Section 6.08 Special Provisions for Insurer Default 36 Section 6.09 BAM As Third Party Beneficiary 37 Section 6.10 Payment Procedure Under the Policy 37 Section 6.11 Reimbursement of BAM 38 Section 6.12 Exercise of Rights by BAM 39 Section 6.13 Payment upon Nonpayment by Municipality 39 Section 6.14 No Transfer 39 Section 6.15 No Impairment 39 Section 6.16 Additional Events of Default 39 Section 6.17 Definitions. 39
Sample 1
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MUNICIPAL BOND INSURANCE PROVISIONS. Section 6.01 Notice and Other Information to be given to BAM 35 Section 6.02 Consent of BAM 35 Section 6.03 Insolvency 36 Section 6.04 Control by BAM Upon Default 36 Section 6.05 BAM as Owner 36 Section 6.06 Consent of BAM for Acceleration 36 Section 6.07 Grace Period for Payment Defaults 36 Section 6.08 Special Provisions for Insurer Default 36 Section 6.09 BAM As Third Party Beneficiary 37 Section 6.10 Payment Procedure Under the Policy 37 Section 6.11 Reimbursement of BAM 38 Section 6.12 Exercise of Rights by BAM 39 Section 6.13 Payment upon Nonpayment by Municipality 39 Section 6.14 No Transfer 39 Section 6.15 No Impairment 39 Section 6.16 Additional Events of Default 39 Section 6.17 Definitions 39 ARTICLE VII MISCELLANEOUS Section 7.01 Notices 40 Section 7.02 Binding Effect 41 Section 7.03 Severability 41 Section 7.04 Amendments, Supplements and Modifications 41 Section 7.05 Execution in Counterparts 41 Section 7.06 Governing Law and Regulations 41 Section 7.07 Consents and Approvals 41 Section 7.08 Further Assurances 41 Signatures and Seal 42 Exhibit A - Description of the Project Exhibit B - Loan Repayment Schedule Exhibit C - Conditions Applicable to Construction of the Project Exhibit D - Use of Loan Proceeds Exhibit E - Instructions for Requesting Disbursements Exhibit F - Municipality Ordinance Exhibit G - Form of Opinion of Municipality's Counsel Exhibit H - Municipality's Notice Address Exhibit I – Form of Bond Insurance Policy Exhibit J - Form of Qualified User Certificate
Sample 1

Related to MUNICIPAL BOND INSURANCE PROVISIONS

  • Insurance Provisions Prior to the provision of services under this Contract, the Contractor agrees to purchase all required insurance at Contractor’s expense, including all endorsements required herein, necessary to satisfy the County that the insurance provisions of this Contract have been complied with. Contractor agrees to keep such insurance coverage, Certificates of Insurance, and endorsements on deposit with the County during the entire term of this Contract. In addition, all subcontractors performing work on behalf of Contractor pursuant to this Contract shall obtain insurance subject to the same terms and conditions as set forth herein for Contractor. Contractor shall ensure that all subcontractors performing work on behalf of Contractor pursuant to this Contract shall be covered under Contractor’s insurance as an Additional Insured or maintain insurance subject to the same terms and conditions as set forth herein for Contractor. Contractor shall not allow subcontractors to work if subcontractors have less than the level of coverage required by County from Contractor under this Contract. It is the obligation of Contractor to provide notice of the insurance requirements to every subcontractor and to receive proof of insurance prior to allowing any subcontractor to begin work. Such proof of insurance must be maintained by Contractor through the entirety of this Contract for inspection by County representative(s) at any reasonable time. All self-insured retentions (SIRs) and deductibles shall be clearly stated on the Certificate of Insurance. If no SIRs or deductibles apply, indicate this on the Certificate of Insurance with a zero (0) by the appropriate line of coverage. Any self-insured retention (SIR) or deductible in an amount in excess of $25,000 ($5,000 for automobile liability), which shall specifically be approved by the County Executive Office (CEO)/Office of Risk Management upon review of Contractor’s current audited financial report. If the Contractor fails to maintain insurance acceptable to the County for the full term of this Contract, the County may terminate this Contract.

  • Other Insurance Provisions The policies are to contain, or be endorsed to contain, the following provisions:

  • Other Insurance Provision The Consultant’s Automobile Liability and Commercial General Liability insurance policies are to contain, or be endorsed to contain that they shall be primary insurance as respect to the City. Any Insurance, self-insurance, or self-insured pool coverage maintained by the City shall be excess of the Consultant’s insurance and shall not contribute with it.

  • Hazard Insurance All buildings or other customarily insured improvements upon the Mortgaged Property are insured by an insurer acceptable under the Fxxxxx Mae Guides, against loss by fire, hazards of extended coverage and such other hazards as are provided for in the Fxxxxx Mxx Guides or by the Fxxxxxx Mac Guides, in an amount representing coverage not less than the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loans and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If the Mortgaged Property is a condominium unit, it is included under the coverage afforded by a blanket policy for the project. If required by the FDPA, the Mortgage Loan is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and conforming to Fxxxxx Mxx and Fxxxxxx Mac requirements, in an amount not less than the amount required by the FDPA. Such policy was issued by an insurer acceptable under the Fxxxxx Mae Guides or the Fxxxxxx Mac Guides. The Mortgage obligates the Mortgagor thereunder to maintain all such insurance at the Mortgagor's cost and expense, and upon the Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain such insurance at the Mortgagor's cost and expense and to seek reimbursement therefor from the Mortgagor. All such standard hazard and flood policies are in full force and effect and on the date of origination contained a standard mortgagee clause naming the Seller and its successors in interest and assigns as loss payee; such clause is still in effect and all premiums due on any such policies have been paid in full. No originator, seller, prior owner of the Mortgage Loan, borrower or any other Person, has engaged in any act or omission that would impair the coverage of any such insurance policy, the benefits of the endorsement provided for therein, or the validity and binding effect of either, including, without limitation, the provision or receipt of any unlawful fee, commission, kickback, or other compensation or value of any kind. No action, inaction, or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any such insurance policies, regardless of the cause of such failure of coverage.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall:

  • INSURANCE PROTECTION Insurance protection for employees travelling on work related business is provided in accordance with the DHB’s insurance policy. The provisions of the insurance policy are available through the Human Resources department.

  • Additional Insurance Provisions (A) The foregoing requirements as to the types and limits of insurance coverage to be maintained by Consultant, and any approval of said insurance by the City, is not intended to and shall not in any manner limit or qualify the liabilities and obligations otherwise assumed by the Consultant pursuant to this Agreement, including but not limited to, the provisions concerning indemnification.

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Health insurance premiums If you are unemployed and have received unemployment compensation for 12 consecutive weeks under a federal or state program, you may take payments from your IRA to pay for health insurance premiums without incurring the 10 percent early distribution penalty tax. 6)

  • WORKPLACE SAFETY AND INSURANCE BENEFITS 25.01 An employee who sustains an injury or disease arising out of and in the course of his/her duties is covered by the Workplace Safety and Insurance Act, 1997, S.O. 1997, as amended.

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