RISK OF LOSS AND INSURANCE definition

RISK OF LOSS AND INSURANCE. All risk of loss of, damage to, or destruction of the Collateral shall, at all times, be with each Borrower. Each Borrower shall procure and maintain with financially sound and reputable companies, insurance policies (i) insuring the Collateral against loss by fire, explosion, theft and such other casualties as are usually insured against by companies engaged in the same or similar business, and (ii) insuring such Borrower and the Lender against liability for personal injury and property damage relating to the Collateral. The policies shall be in such form and in such amounts and coverage as may be reasonably satisfactory to the Lender, with losses payable to such Borrower and the Lender as their respective interest may appear. Each Borrower shall, if requested by Lender, deliver to the Lender evidence that such insurance coverage is in effect. All insurance shall (i) contain a breach of warranty clause in favor of the Lender, (ii) provide that no cancellation, reduction in amount or change in coverage thereof shall be effective until at least thirty (30) days after receipt by the Lender of written notice thereof, and (iii) be reasonably satisfactory in all respects to the Lender. If any Borrower fails to furnish such insurance or fails to pay the premiums therefor, Lender may do so or may obtain insurance of its interest only and add the amount of any such premium thereof to the other amounts secured hereby. Lender is under no obligation nor duty, however, to pay such premiums or obtain such insurance.
Sample 1
RISK OF LOSS AND INSURANCE. Licensee accepts all responsibility for risk of loss to its merchandise brought to the Show. AGTA, the Tucson Convention Center, the Tucson Gem & Mineral Society or any of their Officers, Producers, Employees or Agents shall not be responsible for any loss, theft, damage by fire or other casualty to any person, material or merchandise. Licensor will provide 24-hour security but does not guarantee against loss. Licensee, at its option and cost, may provide insurance against any damage, loss or liability. DAMAGES: Licensee accepts responsibility for the booth space assigned and all booth equipment and decorations. Licensee will be solely responsible for any damage to the booth or booth equipment and to any floors, walls or other public areas of the Convention Center. No signs, pictures, display, shelves or any other item may be attached or mounted on any Convention Center door, wall or window. Licensee agrees to indemnify and hold harmless AGTA, the City of Tucson, The Tucson Convention Center, or the Tucson Gem & Mineral Society from all claims for damages, including, without limitation, attorneys' fees and expenses. PRESERVATION OF RIGHTS: Licensor, in its sole discretion, reserves the right to close, correct, move, remove or eliminate any exhibit, portion of an exhibit, card, sign, display, catalog or any other item which in the opinion of Licensor is not suitable for or in keeping with the purpose and character of the Show. Licensor reserves the right, in its sole discretion, to remove or cause to be removed any person whose actions or conduct is disruptive to the Show or not in keeping with the purposes and character of the Show. These rights include the right to terminate this license and Licensee's rights to exhibit in the AGTA GemFair™ Tucson and remove Licensee's exhibit, with no refund of moneys to the Licensee. CANCELATION OF SHOW: Should Licensor, at any time prior to the opening of the Show, be required to cancel the Show due to destruction or damage to the exhibit space, due to incomplete construction or unavailability of space for any reason whatsoever, or due to strike, civil insurrection, fire, flood, wind, abnormal weather, Pima County Health Department, or any other Act of God, or there be declared a national emergency or other governmental act that interferes with the conduct of the Show, or for any other reason whatsoever, then and in that event, Licensor shall be free of any and all liability to the Licensee arising out of such cancelat...
Sample 1
RISK OF LOSS AND INSURANCE. At all times prior to Closing, the risk of loss shall be borne by Sanders. Sanders shall maintain, in addition to any insuranxx xx xurrxxxxx xaintains, comprehensive general liability insurance covering the Property at all times prior to closing in an amount not less than $1,000,000.00, which insurance policy shall name State and President as additional insureds as their interests may appear.
Sample 1

Examples of RISK OF LOSS AND INSURANCE in a sentence

  • RISK OF LOSS AND INSURANCE COVERAGE: COMMODITIES DELIVERED ON FUTURES CONTRACTS.

  • RISK OF LOSS AND INSURANCE: The section is amended to state in its entirety: “You are responsible for installing and keeping the Equipment in good working order.

  • RISK OF LOSS AND INSURANCE 55 10.1. Insurance 55 10.2. General Insurance Provisions 57 10.3. Costs and Expenses 60 10.4. Waiver of Subrogation 60 10.5. Indemnification of Lessor 60 10.6. Lessor Advance 61 11.

  • TITLE, RISK OF LOSS AND INSURANCE: Title to each shipment of the products sold hereunder and risk of loss thereon passes to Buyer when such products are delivered by Seller or its agent to a common carrier or licensed trucker consigned to Buyer, or his agent, but they remain subject to Seller’s rights of stoppage in transit and of reclamation.

  • Section A (First and Second Paragraphs) RISK OF LOSS AND INSURANCE IV.

Related to RISK OF LOSS AND INSURANCE

  • Company Insurance Policies has the meaning set forth in Section 3.14.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • protection and indemnity risks means the usual risks covered by a protection and indemnity association managed in London, including pollution risks and the proportion (if any) of any sums payable to any other person or persons in case of collision which are not recoverable under the hull and machinery policies by reason of the incorporation in them of clause 6 of the International Hull Clauses (1/11/02 or 1/11/03), clause 8 of the Institute Time Clauses (Hulls) (1/11/95) or clause 8 of the Institute Time Clauses (Hulls) (1/10/83) or the Institute Amended Running Down Clause (1/10/71) or any equivalent provision;

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Property Insurance is defined in Section 6.10(a).

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Force-Placed Insurance shall have the meaning set forth in Section 4.4.

  • Casualty insurance means liability insurance.

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Required Insurances means collectively the Project Facility Insurances and the Contractor Insurances.

  • Blanket insurance policy means a group policy covering a defined class of

  • Bond Insurance Policy means the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

  • Errors and Omissions Policy As defined in each of the Servicing Agreements.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Bail bond insurance means a guarantee that a person will attend court when

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration Trust;

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud.