Construction Risks definition

Construction Risks has the meaning set forth in Section 4.4(c).
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Construction Risks means the valid and effective INSURANCE ASSIGNMENT" first priority assignment of the Insurances (together with the notice thereof), executed by the Builder in respect of the Vessel in favour of the Trustee on 22 April 2003, such assignment and notice being in the form and on the terms and conditions required by the Agent and the Hermes Agent and agreed on the signing of the Original Loan Agreement and as specified in paragraph 33 of Schedule 4;
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Examples of Construction Risks in a sentence

  • Proceeds of the Insurances for partial losses shall be applied in accordance with the Construction Risks Insurance Assignment or the Insurance Assignment (as the case may be) and/or the loss payable clause(s) endorsed on the Insurances in the form approved by the Agent and in the case of a Total Loss of the Vessel in accordance with Clause 4.5 and Clause 12.1.

  • This policy is not required to cover liabilities or losses insured under Construction Risks Insurance, Workers Compensation Insurance, Employers' Liability Insurance, Professional Indemnity Insurance or Errors and Omissions Insurance.

  • Subject to the provisions of the Co-ordination Deed, proceeds of the Insurances for partial losses shall be applied in accordance with the Construction Risks Insurance Assignment or the Insurance Assignment (as the case may be) and/or the loss payable clause(s) endorsed on the Insurances in the form approved by the Agent and in the case of a Total Loss of the Vessel in accordance with Clause 4.5 and Clause 12.1.

  • The Contractor must: from the Award Date cause to be effected and maintained or otherwise have the benefit of Construction Risks Insurance, Public Liability Insurance and the other insurance (if any) specified in the Subcontract Particulars for the amounts specified in the Subcontract Particulars; and promptly provide the Subcontractor with evidence satisfactory to the Subcontractor that the insurances required under subparagraph (i) are current, as required by the Subcontractor from time to time.

  • This policy is not required to cover liabilities or losses insured under Construction Risks Insurance, Workers Compensation Insurance, Employers’ Liability Insurance (as defined below) or Professional Indemnity Insurance.

  • Second-priority legal assignment of contracts dated on or about the date hereof in respect of the Construction Contract, certain of the Refund Guarantees and the Construction Risks Insurance (each as defined in each Term Loan Credit Agreement) in favour of the Collateral Agent as security trustee on behalf of the Term Loan Creditors (the “Term Loan Vessel 2 Assignment of Contracts”).

  • First-priority legal assignment of contracts dated on or about the date hereof in respect of the Construction Contract, certain of the Refund Guarantees and the Construction Risks Insurance (each as defined in the ECF Credit Agreement) in favour of the Collateral Agent as security trustee on behalf of the ECF Creditors (the “Vessel 1 Assignment of Contracts”).

  • To the maximum extent practically and legally possible, the Parties intend for required contract terms to make the contractors primarily responsible for the risks of design, permitting in connection with construction, compliance with Legal Requirements, building and labor disputes (collectively, the “Construction Risks”) and for such Construction Risks to be assumed by the contractors.

  • First-priority legal assignment of contracts dated on or about the date hereof in respect of the Construction Contract, certain of the Refund Guarantees and the Construction Risks Insurance (each as defined in the ECF Credit Agreement) in favour of the Collateral Agent as security trustee on behalf of the ECF Creditors (the “Vessel 2 Assignment of Contracts”).

  • This policy is not required to cover liabilities or losses insured under Construction Risks Insurance, Workers Compensation Insurance, Employers’ Liability Insurance, Professional Indemnity Insurance or Errors and Omissions Insurance.