Storage Activities Sample Clauses

Storage Activities. Notwithstanding the foregoing, so long as Seneca is providing storage and handling of Product after its purchase by GMOI hereunder, Seneca will maintain in full force and effect "all risk" casualty insurance, including flood and earthquake, with insurers reasonably acceptable to GMOI covering the Product Inventory and naming GMOI as owner and primary loss payee. With respect to any Acceptable Case, the amount of required casualty insurance shall equal 100% of the Transfer Price of such Acceptable Case , subject to deductibles that are in accordance with customary and prudent industry practice for canned and frozen vegetable products. The insurance described herein may be effected under insurance policies covering generally the properties of Seneca and other properties in the possession or control of Seneca. On May 23, 2002 and annually thereafter, Seneca shall furnish GMOI with an insurance certificate or certificates showing Seneca's compliance with the requirements of Section 9.2(d)." 13. Section 10.2 is amended by inserting the words "and Storage Facilities" after the words "Alliance Plants" in the second line thereof; by inserting the words "and Storage Facility" after the words "Alliance Plant" in the fifth line thereof; and by inserting the words "or Storage Facility" after the word "Plant" each time it appears in paragraphs (a), (b) and (c) in Section 10.2. 14. Section 12.3(a) is amended by deleting the word "delivery" from the last line thereof and substituting therefor the words "shipment from the applicable Storage Facility or Alliance Plant". 15. Section 12.3(b) is amended by deleting the words "delivery of" from the last line thereof, and inserting the words "is shipped from the applicable Storage Facility or Alliance Plant".

Storage Activities. Notwithstanding the foregoing, so long as Seneca is providing storage and handling of Product after its purchase by GMOL hereunder, Seneca will maintain in full force and effect “all risk” casualty insurance, including flood, with insurers reasonably acceptable to GMOL covering such Product and naming GMOL as owner and primary loss payee. With respect to any Acceptable Case, the amount of required casualty insurance shall equal * of the Transfer Price of such Acceptable Case, subject to mutually agreed deductibles. The insurance described herein may be effected under insurance policies covering generally the properties of Seneca and other properties in the possession or control of Seneca. On or about May 23rd of each year during the term of this Agreement, Seneca shall furnish GMOL with an insurance certificate or certificates showing Seneca’s compliance with the requirements of Section 9.2(d). All policies with respect to the foregoing insurance shall specifically name GMOL as an additional insured party as GMOL’s interests may appear with respect to this Agreement. Before commencing work, Seneca shall furnish to GMOL’s Risk Manager an insurance certificate or certificates showing Seneca’s compliance with the requirements of this provision, as determined in the discretion of GMOL. Such certificate or certificates shall specifically provide that Seneca’s comprehensive general liability insurance includes a contract liability rider covering the agreements and covenants of Seneca under and in connection with this Agreement and further, that said insurance shall not be canceled or changed until at least thirty (30) days’ written notice has been given to GMOL by the insurance company. Seneca agrees that the insurance limits stated in this Section 9.2 are the minimum requirement and that GMOL does not in any way represent that the insurance or the limits required herein are sufficient or adequate to protect Seneca’s interests or liabilities.