Obtaining Coverage Sample Clauses
The "Obtaining Coverage" clause outlines the requirements and procedures for securing insurance or other forms of coverage relevant to the agreement. Typically, it specifies the types and minimum amounts of coverage that must be obtained, the parties responsible for acquiring and maintaining such coverage, and any documentation or proof that must be provided to demonstrate compliance. This clause ensures that all parties are adequately protected against specified risks, thereby reducing potential liabilities and clarifying responsibilities in the event of a loss or claim.
Obtaining Coverage. This Policy shall extend to each Loan which the Insured submits for coverage under this Policy, provided that it is made in accordance with the terms and provisions of this Policy, including the Eligibility Criteria, and is accepted for insurance by the Company, as evidenced by a Certificate issued by the Company. In order to obtain coverage under this Policy for a Loan, the Insured or the Person acting on its behalf must submit a duly completed Application to the Company and notify the Company of the Servicer of the Loan, all of which must be acceptable to the Company. If all applicable requirements are satisfied, extension of coverage to a Loan under this Policy shall be evidenced by issuance of a Certificate Number on the Certificate Schedule.
Obtaining Coverage. 8 2.2 Representations of the Insured ..........................................................................8 2.3 Initial Premium .........................................................................................9 2.4 Cancellation of Policy for Non-Payment of Subsequent Premium ............................................9 2.5 Company's Remedies for Misrepresentation ................................................................9 2.6
Obtaining Coverage. If you indicate “Accept” in the ALI box when completing the Avis Preferred Master Rental Agreement Enrollment Profile, coverage will be provided for the rental vehicle. The daily fee currently charged for this optional coverage varies between US $10.95 per day and US $16.84 per day depending upon the state of rental, and is subject to change. Such daily fee is due for each full or partial rental day.
Obtaining Coverage. When initially considering obtaining insurance and when considering renewing insurance coverage, the Manager will obtain recommendations and quotations of premium costs from at least three different insurance companies on all forms of insurance needed to protect each Owner and the Premises. The types of insurance coverage that the Manager will investigate include but are not limited to workers' compensation (or alternative occupational safety program as allowed by State Law), public liability, boiler, fire and extended coverage, burglary and theft, moneys and securities, and forgery and alterations. After the Manager completes this investigation, the Owner will select the types and amounts of coverage it deems necessary, appropriate, and economically prudent. The Manager and each Owner will be named as co-insured on all insurance policies relating to workers' compensation (or alternative occupational safety program as allowed by State Law), public liability, burglary and theft, moneys and securities, and forgery and alterations insurance. Promptly after receiving confirmation of the issuance or renewal of an insurance policy described in this paragraph, the Manager will deliver to the Owner a copy of the confirmation and the actual insurance policy. Insurance premiums are an expense of the Premises. The Manager will arrange to have all insurance policies provide that notice of default or termination will be sent to each Owner and Manager.
Obtaining Coverage. In order to obtain an extension of coverage for a Loan under this Policy, the Insured shall submit an application in a form furnished by or acceptable to the Company and any other information required by the Program Criteria in effect at the date of execution of the application. Coverage is evidenced by a Commitment and Certificate which extends a commitment for coverage pursuant to the terms and conditions thereof and of the Policy. A Commitment may not be sold, assigned or transferred by the Insured without the prior approval of the Company. Should the Insured contact the Company by telephone about any such application for coverage, to provide additional information to the Company about a loan, the borrower, the property or otherwise, the Insured understands and agrees that any such telephone conversation may be electronically recorded and retained by the Company and agrees to so advise all of its employees. If the Company declines to issue a Commitment and Certificate, the Company will notify the Insured of such declination. The Insured is responsible for notifying the borrower of such declination in compliance with any applicable state or federal laws or regulations, including the Equal Credit Opportunity Act and any other similar law or regulation.