Owner’s Coverage Sample Clauses
The Owner’s Coverage clause defines the scope and extent of insurance or protection provided specifically to the property owner under a contract or policy. Typically, this clause outlines what risks or losses the owner is covered against, such as damage to the property, liability claims, or defects in title, and may specify any limitations or exclusions. For example, it may ensure the owner is compensated for losses due to fire, theft, or legal disputes over ownership. The core function of this clause is to clearly establish the owner’s rights to coverage, thereby protecting their financial interests and reducing uncertainty regarding potential risks.
Owner’s Coverage. Owner, at Owner’s option, may purchase and maintain such insurance as will insure Owner against loss of use of Owner’s property due to fire or other hazards, however caused. Owner waives all rights of action against Contractor for loss of use of Owner’s property, including consequential losses, due to fire or other hazards however caused.
Owner’s Coverage. Owner shall maintain property insurance, written on an “special form” basis (or its equivalent), covering loss or damage to Owner’s Feedstock, Owner’s Work-In-Process and Owner’s Product prior to the same being Delivered in an amount equal to one hundred percent (100%) of their replacement cost and a reasonable deductible, a determined by Owner; provided Owner may require that the third party carrier retained by Beacon to transport any of Owner’s Product insure the same, in a manner acceptable to Owner, while it is being transported from the Facility to the applicable Delivery Point. If Owner requires that any of Owner’s Product be so insured by the third party carrier transporting the same, then Owner shall be entitled to all insurance proceeds paid on account of loss or damage to Owner’s Product while it is in the care or custody of such carrier, Beacon’s contract with the such carrier shall provide that Owner is entitled to such insurance proceeds, and Owner shall be a third party beneficiary of such contract. [**] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Owner’s Coverage. Owner shall throughout the Term maintain insurance coverage from all claims, demands or actions arising from, related to, or connected with the conduct and operations of the Church, in reasonable amounts as would be carried by a prudent owner of a similar property in the same locale, but in not less than $1,000,000.00 for property damage, injury, or death of any person or persons in any one accident or occurrence, and $2,000,000 aggregate.
Owner’s Coverage. Owner shall procure at its own expense and maintain in full force and effect from and after the Notice to Proceed, the following insurance with the coverage amounts indicated. Such insurance shall provide the coverage, limits, deductibles and exclusions as herein described. Such insurance shall be maintained with responsible and reputable insurance companies in compliance with applicable Law. Prior to issuance of the Notice to Proceed, Owner shall provide Contractor certificates of insurance, and if requested by Contractor, a true, correct and complete copy of all such insurance policies, to Contractor evidencing all insurance policies required under this Section 6. Except as respects loss or damage directly resulting from testing of a combustion turbine or of a steam turbine, Contractor will be responsible for deductible amounts up to a maximum of $50,000 per occurrence for any loss or damage to the Work arising out of Contractor's performance of activities under the Agreement until such time as the completion of testing in accordance with the Agreement; provided, that Contractor shall not be responsible for such deductible amounts to the extent that any such loss or damage to the Work results solely from Owner's negligence or willful misconduct. If during the testing period any physical loss or damage occurs to the Work which is a direct result of the testing of a combustion turbine or of a steam turbine, then to the extent such loss or damage is directly attributable to negligence of Contractor (or anyone performing work on behalf of or at the direction of Contractor), Contractor shall be responsible for deductible amounts up to a maximum of $250,000 with respect to the testing of a combustion turbine and up to a maximum of $100,000 with respect to the testing of a steam turbine. Notwithstanding the above, Contractor shall not be responsible for any deductibles under Owner's coverage after the completion of testing in accordance with the Agreement.
Owner’s Coverage. 16.1.1 Owner shall provide and maintain in force the following insurance coverage commencing on the date the Contractor shall have employees on the site: