Casualty and Liability Insurance Clause Samples
Casualty and Liability Insurance. RISK OF LOSS, DAMAGE OR DESTRUCTION. Lessee shall keep all Equipment insured against loss by fire, theft and all other hazards (comprehensive coverage) in such amounts as Lessor requires (but not less than the casualty value (the "Casualty Value") for such item indicated in the Casualty Table attached to the applicable Schedule). Such insurance shall be with insurers and in form, amount and coverage satisfactory to Lessor. Lessee appoints Lessor Lessee's attorney in fact top endorse any loss payments or returned premium check and to make any claim under such insurance. Lessee shall also insure the Lesssor and Lessee with respect to liability for personal injuries, damage to or loss of use of property resulting from the ownership, use and operation of the Equipment with insurers satisfactory to Lessor in amounts and against risks customarily insured against by the Lessee for equipment owned by it. All policies shall be endorsed with Lessor as a loss payee and additional insured and shall contain provisions (a) that such insurance shall not be cancelled except upon thirty days written notice to Lessor at the address set forth under its name below and (b) that the interest of Lessor shall not be invalidated by any act of Lessee. The policies of insurance or any endorsement certificates shall be delivered to Lessor within 30 days after any scheduled Acceptance Date. In the event of loss, destruction or theft of, or damage to, any of the Equipment, Lessee will immediately notify Lessor. Upon Lessor's and any assignee's written consent, Lessee may act as a self-insurer in amounts acceptable to Lessor and any assignee. If Lessee defaults in obtaining any insurance to be provided, Lessor may, but is not required to place such insurance. Any premiums paid by Lessor shall be additional rent payable on demand with interest at the highest legal rate from the date of payment. At Lessor's sole option, such amounts together with interest may be added to the lease balance to be paid by Lessee as additional monthly rent. NOTWITHSTANDING THE PROVISIONS OF THIS PARAGRAPH, LESSEE WILL HOLD LESSOR HARMLESS AGAINST ANY SUCH CLAIM OR LIABILITY (INCLUDING ATTORNEY'S FEES, COSTS AND EXPENSES FOR ANY DEFENSE) ARISING OUT OF THE OWNERSHIP, USE OR OPERATION OF THE EQUIPMENT DURING THE PERIOD OF THIS MASTER LEASE AND UNTIL THE EQUIPMENT IS RETURNED TO AND ACCEPTED BY THE LESSOR. Lessee assumes and shall bear all risks of loss of, damage to or destruction of each item of Equipment, whe...
Casualty and Liability Insurance. Borrower shall have furnished to Bank, in form, content and amounts and with companies satisfactory to Bank, casualty insurance policies with lender loss payable clauses in favor of Bank, relating to the assets and properties (including, but not limited to, the Collateral) of Borrower and evidence of general liability insurance as required by this Agreement or any Related Document (or evidence of insurance on an ▇▇▇▇▇ 28 (2003 version) (in the case of property insurance) or ▇▇▇▇▇ 25 (in the case of liability insurance) form of certificate) each policy to be in effect for a period of not less than one year following the Effective Date.
Casualty and Liability Insurance. Borrower, at its expense or the expense of the applicable Tenant, shall maintain and deliver, or cause to be maintained and delivered, to Administrative Agent the policies of insurance set forth on Exhibit I attached hereto with respect to the Collateral and the Subsidiary Guarantors. All insurance policies shall (i) be issued by an insurance company licensed or authorized to do business in the state where the property is located having a rating of “A-” VIII or better by A.M. Best Co., in Best’s Rating Guide, (ii) name “JPMorgan Chase Bank, N.A., as administrative agent” as additional insureds on all liability insurance and as mortgagee and loss payee on all ISO Special Form or All-Risk Property insurance, (iii) be endorsed to show that Borrower’s insurance shall be primary and all insurance carried by Administrative Agent and the Lenders is strictly excess and secondary and shall not contribute with Borrower’s insurance, (iv) provide that Administrative Agent is to receive thirty (30) days written notice prior to non-renewal or cancellation, (v) be evidenced by a certificate of insurance to be provided to Administrative Agent or, if the applicable Tenant does not customarily provide certificates of insurance, such other form of document customarily provided by the applicable Tenant, along with a copy of the policy for the ISO Special Form or All-Risk Property coverage, (vi) include either policy or binder numbers on the Accord form, and (vii) be in form and amounts as those policies described in Exhibit I or otherwise reasonably acceptable to Administrative Agent. Borrower acknowledges that Borrower has been advised by Administrative Agent of, and agrees that the requirements of this Section 6.8 and Exhibit I are in compliance with the following legal limitation regarding hazard insurance coverage pursuant to Arizona Revised Statutes Section 44-1208: “.
Casualty and Liability Insurance. The Company shall have as of the date hereof obtained from financially sound and reputable insurers casualty and general liability insurance in amounts customary for companies similarly situated, except as otherwise determined by a majority of the Company’s Board of Directors, with such majority including at least two of the Preferred Directors. The Company will cause to be maintained the general liability insurance required by this subsection 2.4(f), except as otherwise determined by a majority of the Company’s Board of Directors, with such majority including at least two of the Preferred Directors. Such policy shall name the Company, Alloy Ventures 2005, L.P. (“Alloy Ventures”), Austin Ventures VIII, L.P. (“Austin Ventures”), North Bridge Venture Partners VI, L.P. (“North Bridge”) and August Capital V Special Opportunities, L.P. (“August Capital”) as loss payees and shall not be cancelable by the Company without prior approval of a majority of the Board of Directors, with such approval including at least two of the Preferred Directors.
Casualty and Liability Insurance. You shall have received a Compliance Certificate from the Company, and an Officers' Certificate from Mercury, each dated the date of the Closing and reasonably satisfactory in substance and form to you, certifying to the existence of the insurance, with insurance companies satisfactory to you, required by Section 1.12 of the Mortgage and Section 3.2.4.1 through and including 3.
Casualty and Liability Insurance. NAPLES GATORS shall maintain in effect during the Term of this Use, at NAPLES GATORS expense, a policy of casualty and liability insurance insuring the Property against loss by fire and other casualty in the replacement cost thereof, and with liability coverage in such amounts and with such coverage as may be determined by the CITY. NAPLES GATORS shall maintain in effect during the Term of this Use a policy of general liability insurance covering acts of NAPLES GATORS its guests, coaches, employees and invitees, occurring at the Premises in an amount of not less than One Million and No/100 Dollars ($1,000,000.00) per occurrence. The CITY shall be named as an additional insured on NAPLES GATORS liability policy.
Casualty and Liability Insurance. The Borrower shall:
1. Maintain, or cause to be maintained, fire, earthquake, property damage and public liability insurance on the Property and Improvements, naming the Bank as first mortgagee, loss payee and additional insured, by standard mortgagee endorsement, which insurance shall be in a form and in an amount satisfactory to the Bank and with an insurer satisfactory to the Bank. If required, the Borrower shall also obtain adequate workers compensation insurance. The original of each insurance policy required hereunder shall be delivered to the Bank at or prior to the Closing. Each insurance policy required by this Section shall contain an affirmative statement by the insurer agreeing to give written notice to the Bank at least thirty (30) days prior to cancellation or amendment of such policy for any reason whatsoever. The Borrower shall also furnish to the Bank (i) evidence that the Property is not in a floodplain or (ii) flood insurance in an amount and form satisfactory to the Bank
2. At or prior to the Closing and thereafter within ten (10) days after written request by the Bank, furnish to the Bank full information concerning such insurance described above and promptly effect such additional insurance to protect against additional risks and/or in additional amounts as the Bank may request from time to time, with the Bank named as a mortgagee, loss payee and an additional insured on all policies in effect at Closing or thereafter.
Casualty and Liability Insurance. The Agent shall have received certificates of insurance, evidence of payment of all insurance premiums for the current policy year of each, and, if requested by the Agent, copies of insurance policies, evidencing customary levels of insurance (and deductibles) covering the Collateral and the Pledged Assets, with carriers reasonably acceptable to the Agent, and otherwise in form and substance customary in Borrowers’ industry.
Casualty and Liability Insurance. On the Closing Date, you shall have received a certificate dated such Closing Date executed by an authorized officer of the Company in form and substance satisfactory to you and your special counsel, dated the Closing Date, stating that the Company is in compliance with the requirements of Section 2.6 of each of the Mortgages.
Casualty and Liability Insurance. Subtenant shall provide all insurance required of the Sublandlord as Tenant under the Primary Lease and shall provide Sublandlord with written evidence of such coverage. Landlord and Sublandlord shall be shown as an additional insured under Subtenant's policies.