Obtaining Insurance Sample Clauses
The "Obtaining Insurance" clause requires one or both parties to secure specific types and amounts of insurance coverage relevant to the contract. Typically, this clause outlines the minimum coverage limits, the types of insurance required (such as general liability or professional indemnity), and may require proof of insurance to be provided to the other party. Its core function is to allocate risk and ensure that adequate financial protection is in place in case of accidents, losses, or claims arising from the contractual relationship.
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Obtaining Insurance. The Company shall in good faith seek and evaluate insurance products relative to the intellectual property of the Company. If the terms, costs and availability of funds provided by such insurance products are reasonably acceptable to the Company, the Representative of the Investors and the holders of a majority in principal amount of the outstanding Notes, such insurance products shall be obtained at the Company's sole cost and expense, provided that the coverage lasts through the term of this Note.
Obtaining Insurance. ICT Subco and ICT Holdco shall each obtain such insurance policies in connection with Closing that they respectively determine to be commercially reasonable, taking into account the industry in which ICT operates.
Obtaining Insurance. The Company shall, from time to time, make ------------------- the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with reputable, insurance companies providing the directors with coverage for losses from wrongful acts, or to ensure the Company's performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage. In all such policies of liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company's directors. Notwithstanding the foregoing, the Company shall have no obligation, to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a parent or Subsidiary of the Company.
Obtaining Insurance. Refiner shall obtain and maintain insurance for the Project in accordance with industry practices to the extent available on commercially reasonable terms. For all matters which involve PNG risks, Refiner shall obtain and maintain its insurance from PNG insurers or through PNG insurance brokers, as required by the Insurance Act 1995, except to the extent that: ▇▇
(a) Schedule 1 paragraph (h) provides for an exemption;
(b) adequate insurance from companies having the financial capacity to meet any claims is not obtainable from or through such insurers or insurance brokers; or
(c) the Financing Agreements require otherwise. If paragraph (a), (b) or (c) applies, the State shall grant or procure the grant by the relevant Government Agency of an exemption from any requirements under the laws of PNG that would require Refiner to obtain and maintain insurance covering the Project from insurance companies or through insurance brokers located in PNG.
Obtaining Insurance. Prior to commencement of the Services, Contractor shall obtain the insurance required by this Agreement and all insurance that may be required under Applicable Laws. Unless otherwise indicated below, each insurance policy of Contractor shall provide, either in its printed text or by endorsement, that it shall be primary with respect to the interest of the City, and any insurance maintained by the City is in excess and not contributory to Contractor’s insurance policies regardless of any like insurance coverage that the City may have. Contractor will provide the City with certificate(s) of insurance (COI) evidencing that all coverages, limits, and endorsements required herein are in full force and effect. Such COI(s) shall also reference this Agreement/Contract number. With respect to any insurance policy referenced on a COI, Contractor will (or he will cause the respective insurance carrier to) provide the City with a minimum thirty (30) days written notice in the event of cancellation, termination, non-renewal, or any other material change. Any such written notice shall also include copies of the non-renewal or cancellation notice originated by the insurance carrier. Written notice may be submitted via fax, courier, or postal service in accordance with the notice provision herein. If Contractor fails to obtain and keep in force the insurance required hereunder, the City may obtain and maintain the required insurance in the name of Contractor and the cost thereof shall be payable by Contractor to the City on demand. Review of Contractor’s insurance by the City shall not relieve or increase the liability of Contractor. Nothing in this Agreement/Contract shall be deemed to limit Contractor’s liability under this Agreement/Contract to the limits of the insurance coverages required hereunder. Contractor shall be solely responsible for payment of all deductible or retention amounts pertaining to any insurance required hereby. Where applicable, all insurance policies shall provide for waiver of subrogation in favor of the City, include cross liability provisions, and all policies, except Workers’ Compensation, shall name the City and its directors, officers, officials, managers, representatives, agents and employees as additional insured, to the extent allowable under such policies.
Obtaining Insurance. Prior to commencement of the Services, Contractor shall obtain the insurance required by this Agreement and all insurance that may be required under Applicable Laws. Unless otherwise indicated below, each insurance policy of Contractor shall provide, either in its printed text or by endorsement, that it shall be primary with respect to the interest of the City, and any insurance maintained by the City is in excess and not contributory to Contractor’s insurance policies regardless of any like insurance coverage that the City may have. Contractor will provide the City with certificate(s) of insurance (COI) evidencing that all coverages, limits, and endorsements required herein are in full force and effect. Such COI(s) shall also reference this Agreement/Contract number. With respect to any insurance policy referenced on a COI, Contractor will (or he will cause the respective insurance carrier to) provide the City with a minimum thirty (30) days written notice in the event of cancellation, termination, non-renewal, or any other material change. Any such written notice shall also include copies of the non-renewal or cancellation notice originated by the insurance carrier. Written notice may be submitted via fax, courier, or postal service in accordance with the notice provision herein.
Obtaining Insurance. The Company agrees to use its commercially reasonable best efforts to obtain, within three (3) months of the Closing Date, business insurance for the Company and the Subsidiaries against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged. The Investors acknowledge that, as of the Closing Date, the Company does not have such insurance.
Obtaining Insurance