Permitted Insured definition

Permitted Insured means (a) any Person, including any subcontractor of the Borrower or one of its Subsidiaries, engaged to perform work on projects, (b) any vendor engaged to provide goods or services to projects, and (c) any owner of or interest holder in projects for projects in which the Borrower or one of its Subsidiaries is acting as the general contractor or a subcontractor. “Permitted Investment” means (in each case, by the Borrower or any of its Restricted Subsidiaries):
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Examples of Permitted Insured in a sentence

  • Permit CIS to (a) issue insurance policies naming any Person other than Borrower or any of its Subsidiaries or any Permitted Insured as an insured thereunder, or (b) issue any insurance policy providing coverage for any claim covered thereby in excess of $5,000,000 per claim unless all liabilities in excess of such amount are reinsured by financially sound and reputable insurance companies having a Best’s financial strength rating of not less than A/A-/VIII.

  • Permit CIS to (a) issue insurance policies naming any Person other than the Borrower or any of its Subsidiaries or any Permitted Insured as an insured thereunder, or (b) issue any insurance policy providing coverage for any claim covered thereby in excess of $5,000,000 per claim unless all liabilities in excess of such amount are reinsured by financially sound and reputable insurance companies having a Best’s financial strength rating of not less than A/A-/VIII.

  • However, the cost of the Permitted D&O Insurance shall not exceed a one time premium of $18,000, the Permitted D&O Insurance shall not include any deductible or reimbursement amount or obligation payable by or of B▇▇▇▇▇▇, and the Permitted D&O Insurance shall not cover any claims other than Permitted Insured D&O Claims.