Subguard Policy definition

Subguard Policy means a form of contractor default insurance which provides coverage for the cost of completing the work of a subcontractor of, or supplier to, General Contractor in the event that such subcontractor or supplier should fail to complete their obligations to General Contractor, or in the event their work performed, or materials supplied, should prove to be non-conforming or defective. Any such policy shall (a) contain limits of coverage that exceed the largest subcontract or material contract for one loss and in the aggregate, (b) contain a deductible not greater than $250,000, (c) contain no co-pay requirements, (d) by its express terms not be subject to material change (other than to increase the coverage provided thereby) or cancellation without at least thirty (30) days’ written notice to the Administrative Agent, (e) be endorsed to Administrative Agent substantially in the form attached as Exhibit H and (f) otherwise be issued in form and substance satisfactory to the Administrative Agent.
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Subguard Policy has the meaning assigned to such term in Section 1.1 of the Building Loan Agreement.
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Subguard Policy has the meaning given to it in the Construction Contract. (aaa) “Submission Date” has the meaning given to it in Recital B.
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Examples of Subguard Policy in a sentence

  • The costs associated with obtaining and maintaining the Subguard Policy shall constitute a Project Cost.

  • The Subguard Policy shall be issued or reissued by an insurance company approved by Lender rated A+ by A.M. Best Company, Inc.

  • The policy provisions discussed in this article are taken from the 11 / 03 Subguard Policy.

  • The Coach Member shall have the right to approve any material amendments to the Subguard Policy, such approval not to be unreasonably withheld or delayed.

  • Industry must not construct, maintain or place or allow the construction, maintenance or placement of, any installations (including, without limitation, pits, loadout facilities, buildings, private crossings, beams, pipes or wires) over or under the Track.

  • If the Employer adjusts the mileage rate for administrators during the life of this agreement, the above rate will be amended accordingly.

  • Prior to the Closing Date, Borrower shall cause Contractor to obtain a Subguard Policy.

  • However, this version of the bill does not include that impor- tant provision, and we are again debat- ing legislation that is, in fact, based on a false premise.

  • The policy provisions discussed in this article are taken from the 11 /03 Subguard Policy.


More Definitions of Subguard Policy

Subguard Policy has the meaning given to it in the Construction Contract. (ddd) [INTENTIONALLY DELETED]
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Subguard Policy has the meaning set forth in Section 7.01(a).
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Subguard Policy means the subcontractor default insurance policy reasonably approved by Lender to be maintained by the Contractor at all times prior to the Completion Date.
Sample 1

Related to Subguard Policy

  • R&W Policy means any buyer-side representations and warranties insurance policy purchased by a Buyer or an Affiliate thereof in connection with this Agreement on or before the Closing Date.

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • Master Policy means a single worker’s compensation insurance policy issued by an insurer authorized to do business in this state to an employee leasing company in the name of the employee leasing company that covers more than one client of the employee leasing company.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Safeguard Policy Statement or “SPS” means ADB's Safeguard Policy Statement (2009);

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

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • D&O Tail Policy has the meaning set forth in Section 5.8(c).

  • Reimbursement insurance policy means a policy of insurance

  • Policy means Related Party Transaction Policy.

  • Tail Policy has the meaning set forth in Section 6.18(b).

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • 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.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Covered policy means a policy of commercial risk insurance, professional liability insurance or public entity insurance.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

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

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • 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.

  • D&O Policies has the meaning set forth in Section 8.01(e).

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

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