Common use of Coverage Term Clause in Contracts

Coverage Term. Subrecipient’s coverage needs to be in force for the complete term of the Agreement, unless otherwise noted herein. The Developer’s coverage needs to be in force for the complete affordability period of each Approved Project. The Contractor’s coverage needs to be in force until a certificate of occupancy is issued for each Approved Project. No work may be performed by Subrecipient, Developer, or a Contractor until, and unless, all insurances required by this Agreement are in full force and effect. If insurance expires during the term of the Agreement/affordability period/certificate of occupancy issuance, as applicable, a new certificate must be received by the Department at least thirty (30) days prior to the expiration of said insurance. Any new insurance must comply with the original terms of this Agreement.

Coverage Term. Subrecipient’s coverage needs to be in force for the complete term of the Agreement, unless otherwise noted herein. The Developer’s coverage needs to be in force for the complete affordability period of each Approved Project. The Contractor’s coverage needs to be in force until a certificate of occupancy is issued for each Approved Project. No work may be performed by Subrecipient, Developer, or a Contractor until, until and unless, unless all insurances required by this Agreement are in full force and effect. If insurance expires during the term of the Agreement/affordability period/certificate of occupancy issuance, as applicable, a new certificate must be received by the Department at least thirty (30) 30 days prior to the expiration of said insurance. Any new insurance must comply with the original terms of this Agreement.