Examples of Insurance Requirements in a sentence
Each Policy Document shall meet the requirements of the Insurance Requirements Letter and name Xxxxxx and its successors and/or assigns, and affiliates, as their interests may appear, as additional insureds and as mortgagee and loss payee, as applicable, and shall state Borrower’s correct address and list Borrower as the named insured.
Borrower may later cancel any insurance purchased by Xxxxxx, but only after providing Lender with evidence that Borrower has been obtained insurance satisfying the Insurance Requirements.
Unless Borrower provides Lender with evidence that the required Policies have been obtained, are in full force and effect, and meet the Insurance Requirements, Lender may purchase insurance at Borrower’s expense to protect Xxxxxx’s interests.
Provisions of the General Conditions of the Contract for Construction which are not modified by the following Insurance Requirements remain in full effect.
The full coverage and limits afforded under Contractor’s policies of Insurance shall be available to Buyer and these Insurance Requirements shall not in any way act to reduce coverage that is broader or includes higher limits than those required.