Subcontractor Default Insurance Sample Clauses

Subcontractor Default Insurance. Contractor may maintain Subcontractor default insurance and Owner shall have the right to accept or reject such insurance in Owner’s sole discretion. [Optional – discussion point]
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Subcontractor Default Insurance. A form of subcontract security, administered and maintained by Xxxxxx Xxxxx which is used to secure the Subcontractor's obligations under this Agreement. Subcontractor Progress Payment Application: The documentation required to be submitted by the Subcontractor in order to make an application for payment to Xxxxxx Xxxxx, which shall include in each instance: .1 a copy of the Subcontractor's invoice in a format consistent with Appendix D - Subcontractor Progress Payment Application; .2 an executed statutory declaration, in a format consistent with Statutory Declaration of Progress Payment Distribution by the Subcontractor (CCDC 9B), expressly stating that all amounts payable by the Subcontractor relating to this Agreement have been paid in full up to and including the date of the most recent Progress Payment Application;
Sample 1
Subcontractor Default Insurance. If performance and payment bonds are not required by this Subcontract, as a condition precedent to payment, Subcontractor shall furnish all information required for enrollment in WINTER XXXXXXX’x Subcontractor Default Insurance program, and Subcontractor shall furnish all documents relating to same as required by WINTER XXXXXXX.
Sample 1
Subcontractor Default Insurance. Subject to the next following sentence, the Subcontractor Default Insurance for all subcontractors (including, without limitation, all Major Subcontractors but excluding Axxxxxxx Stone & Tile) shall have been delivered to and approved by Lender (which approval shall not be unreasonably withheld, conditioned or delayed) and shall remain in full force and effect in accordance with Section 5.1(d). Notwithstanding the foregoing, if any subcontractor (other than Axxxxxxx Sxxxx & Tile) does not qualify for Subcontractor Default Insurance, a Payment and Performance Bond shall be obtained.
Sample 1
Subcontractor Default Insurance. Subject to the next following sentence, the Subcontractor Default Insurance for all subcontractors (including, without limitation, all Major Subcontractors) shall have been delivered to and approved by Lender (which approval shall not be unreasonably withheld, conditioned or delayed) and shall remain in full force and effect in accordance with Section 5.1(d). Notwithstanding the foregoing, if any subcontractor does not qualify for Subcontractor Default Insurance, a Payment and Performance Bond shall be obtained.
Sample 1
Subcontractor Default Insurance. Borrower shall obtain and thereafter maintain in full force and effect Subcontractor Default Insurance for all subcontractors with limits of no less than $50,000,000 per claim and $100,000,000 in the aggregate and include a “Financial Interest Endorsement” naming Lender as insured party. The Project will be enrolled as of the commencement of the Construction Work. In addition, Borrower must provide Lender with semi-annual reporting on Subcontractor Default Insurance exposure, claims and losses thereunder (or more often as may be requested by Lender, provided such request shall not exceed more than once each quarter). Enrolled subcontractors must be covered under the Subcontractor Default Insurance policy at all times; provided, however, that if a subcontractor (which is not a Major Subcontractor) is not eligible for coverage under the Subcontractor Default Insurance, Lender will require a Payment and Performance Bond acceptable to Lender.
Sample 1

Related to Subcontractor Default Insurance

  • Subcontractor Insurance In accord with Good Utility Practice, each Interconnected Entity shall require each of its subcontractors to maintain and provide evidence of insurance coverage of types, and in amounts, commensurate with the risks associated with the services provided by the subcontractor. Bonding of contractors or subcontractors shall be at the hiring Interconnected Entity’s discretion, but regardless of bonding, the hiring principal shall be responsible for the performance or non- performance of any contractor or subcontractor it hires.

  • Contractor Insurance Requirements When performing Work on property in the care, custody, or control of the Judicial Council, the Contractor shall maintain all commercial general liability insurance, workers’ compensation insurance, and any other insurance the Judicial Council deems appropriate under the Agreement. Upon request from the Judicial Council, the Contractor shall furnish an insurance certificate evidencing required insurance coverage acceptable to the Judicial Council. The Contractor may also be required to have the Judicial Council shown as an additional insured on selected policies.

  • Minimum Scope of Insurance Coverage shall be at least as broad as:

  • Review of insurance requirements The Security Trustee shall be entitled to review the requirements of this Clause 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Majority Lenders, significant and capable of affecting the Owners or the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Types of Insurance and Minimum Limits (1) Worker’s Compensation in the minimum statutorily required coverage amounts. This insurance coverage shall not be required if the CONTRACTOR has no employees and certifies to this fact by initialing here

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • Contractor Insurance 6.1 The awarded Vendor shall furnish the Owners with a Certificate of Insurance XXXXX and associated endorsements in the kinds and minimum amounts as detailed in the attached "Insurance Requirements for all Contracts" at time of award.

  • Insurance, Subcontractor's Public Liability and Property Damage The Contractor shall require each of its subcontractors to secure and maintain during the life of the subcontract, insurance of the type specified in this Contract, or, the Contractor may insure the activities of its subcontractors in the Contractor’s policy, as specified in this Contract.

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