Policy Form, Content And Insurer Sample Clauses

Policy Form, Content And Insurer. 12.6.1 All insurance required by the provisions of this Lease shall be carried only with insurance companies licensed to do business in this state with Best’s Financial Rating of A VII or better or otherwise acceptable to Landlord.
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Policy Form, Content And Insurer. 10.5.1 All insurance required by the provisions of this Lease shall be carried only with responsible insurance companies licensed to do business in this state having a policyholder’s rating from A. M. Best Company of at least B+. If, during the Term of this Lease, such rating service ends, then Landlord shall select another comparable rating service which most closely approximates Best’s Insurance Rating, with the view toward maintaining the same quality standard for determining a “secure and acceptable insurance company.” If, during the Term of this Lease, Tenant contends that the rating required above in order for an insurance company to be deemed a secure and acceptable insurance company is unnecessarily high and should be lower than the rating hereinabove set forth, Landlord will reasonably consider such a request by Tenant to reduce the required rating used for determining a secure and acceptable insurance company. In the event of a dispute between Landlord and Tenant with respect to the appropriate rating level necessary to insure a secure and acceptable insurance company, such matter shall be submitted to binding arbitration within twenty (20) days of such dis- pute, and the Parties shall agree upon an individual considered to be expert in the rating of insurance companies who shall act as an arbiter of such dispute in accordance of the rules of the American Arbitration Association (“AAA”). If the parties fail to agree upon such an arbiter within said twenty (20) day period, then the same shall be designated by the chief officer of the Los Angeles Chapter of the AAA. The arbiter shall render his decision within sixty (60) days of his appointment. The fees of the arbiter shall be paid equally by the parties.
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Policy Form, Content And Insurer. All insurance required by express provisions of the Lease shall be carried only in responsible insurance companies licensed to do business in the State of Florida and reasonably acceptable to Lessor. All such policies shall be non-assessable and contain language, to the extent obtainable, to the effect that any loss shall be payable notwithstanding any acts or negligence of Lessor, Lessee, or others that might otherwise result in a forfeiture of the insurance, that the insurer waives the right of subrogation against Lessor and against Lessor’s agents and representatives; and the Leased Property, and that the policies cannot be cancelled or materially changed except after thirty (30) days written notice by the insurer to the Lessor and to any mortgagee whose mortgage encumbers the Leased Property. All policies shall be deposited with the Lessor.
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Policy Form, Content And Insurer. All insurance required by the provisions of this Operating Agreement shall be carried only with responsible insurance companies licensed to do business in this state having a policyholder’s rating from A. M. Best Company of at least A+7. If, during the term of this Operating Agreement, such rating service ends, then Harbor District shall select another comparable rating service which most closely approximates A.M. Best’s Insurance Rating, with the view toward maintaining the same quality standard for determining a “secure and acceptable insurance company.” If, during the term of this Operating Agreement, Operator contends that the rating required above in order for an insurance company to be deemed a secure and acceptable insurance company is unnecessarily high and should be lower than the rating hereinabove set forth, Harbor District will reasonably consider such a request by Operator to reduce the required rating used for determining a secure and acceptable insurance company. All such policies required by the provisions of this Operating Agreement shall be non- assessable and shall contain language, to the extent obtainable, to the effect that (i) any loss shall be payable notwithstanding any act or negligence of Harbor District that might otherwise result in a forfeiture of the insurance, (ii) the insurer waives the right of subrogation against Harbor District and against Harbor District’s Representatives, (iii) the policies are primary and noncontributing with any insurance that may be carried by Harbor District, (iv) the policies cannot be canceled or materially altered except after ninety (90) days’ notice by the insurer to Harbor District, and (v) Harbor District shall not be liable for any premiums or assessments. All such insurance shall have deductibility limits reasonably satisfactory to Harbor District. Upon Operator’s execution and delivery hereof, Operator shall deliver to Harbor District either certificates of insurance evidencing the insurance coverage specified in this Section or a binder for such insurance, in a form satisfactory to Harbor District, providing for the commencement of such insurance coverage as of the effective date of this Operating Agreement. Operator shall thereafter deliver to Harbor District certificates of insurance evidencing the insurance coverage required by this Section upon renewal of any insurance policy. Operator may provide any insurance required under this Operating Agreement by blanket insurance covering the...
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Policy Form, Content And Insurer. All insurance required by express provisions hereof shall be carried only by insurance companies authorized to do business by California, rated "A-" or better in the most recent edition of Best Rating Guide, and only if they are of a financial category Class VIII or better. All such property policies shall contain language, to the extent obtainable, to the effect that (i) any loss shall be payable notwithstanding any act of negligence of Owner, or Developer that might otherwise result in the forfeiture of the insurance, (ii) Developer waives the right of subrogation against Owner and against Owner's agents and representatives; (iii) the policies are primary and noncontributing with any insurance that may be carried by Owner; and (iv) the policies cannot be canceled or materially changed except after thirty (30) days' written notice by the insurer to Owner or Owner's designated representative. Developer shall furnish Owner with certificates evidencing the insurance as well as full copies of the policies, and Developer shall continue to submit renewal policies no less than thirty
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Policy Form, Content And Insurer. All insurance required by the provisions of this Lease shall be carried only with responsible insurance companies licensed to do business in this state having a policyholder’s rating from A.
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Related to Policy Form, Content And Insurer

  • Bonding and Insurance All expenses of bond, liability, and other insurance coverage required by law or regulation or deemed advisable by the Trustees of the Trust, including, without limitation, such bond, liability and other insurance expenses that may from time to time be allocated to the Fund in a manner approved by its Trustees.

  • Standard Hazard Insurance and Flood Insurance Policies (a) For each Mortgage Loan, the Master Servicer shall enforce any obligation of the Servicers under the related Servicing Agreements to maintain or cause to be maintained standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of the related Servicing Agreements. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance.

  • Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies (a) The Master Servicer shall cause to be maintained, for each Mortgage Loan, hazard insurance with extended coverage in an amount that is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loan or (ii) the greater of (y) the outstanding principal balance of the Mortgage Loan and (z) an amount such that the proceeds of such policy shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming a co-insurer. Each such policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. Any amounts collected by the Master Servicer under any such policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or amounts released to the Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.08 hereof. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Mortgaged Property is located at the time of origination of the Mortgage Loan in a federally designated special flood hazard area and such area is participating in the national flood insurance program, the Master Servicer shall cause flood insurance to be maintained with respect to such Mortgage Loan. Such flood insurance shall be in an amount equal to the least of (i) the original principal balance of the related Mortgage Loan, (ii) the replacement value of the improvements which are part of such Mortgaged Property, and (iii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program.

  • Maintenance and Insurance (a) The Company shall maintain or cause to be maintained, at its own expense, all of its assets and properties in good working order and condition, making all necessary repairs thereto and renewals and replacements thereof.

  • Maintenance of PMI Policy; Claims With respect to each Mortgage Loan with a loan-to-value ratio in excess of 80% for which a PMI Policy is both required and has been issued, the Servicer shall, to the extent permitted by Accepted Servicing Practices, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy insuring that portion of the Mortgage Loan in excess of 75% of value, and shall cause the Mortgagor to pay the premium thereon on a timely basis, until the loan-to-value ratio of such Mortgage Loan is reduced to 80% or PMI can otherwise no longer be mandated pursuant to applicable law. In the event that such PMI Policy shall be terminated, the Servicer shall attempt to obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to this Agreement, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. With respect to each Mortgage Loan covered by a PMI Policy or LPMI Policy, the Servicer shall take all such actions on behalf of the Owner as are necessary to service, maintain and administer the related Mortgage Loan in accordance with such Policy and to enforce the rights under such Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Owner to do anything it deems appropriate or desirable in connection with the servicing, maintenance and administration of such Policy; provided that the Servicer shall not take any action to permit any modification or assumption of a Mortgage Loan covered by a LPMI or PMI Policy, or take any other action with respect to such Mortgage Loan, which would result in non-coverage under such Policy of any loss which, but for actions of the Servicer, would have been covered thereunder. The Servicer shall cooperate with the PMI insurers and shall furnish all reasonable evidence and information in the possession of the Servicer to which the Servicer has access with respect to the related Mortgage Loan. The Servicer agrees to prepare and present, on behalf of itself and the Owner, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 3.04, any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 3.05.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Maintenance of the Primary Insurance Policies (a) The Master Servicer shall not take, or permit any Servicer (to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Insurance Policy that is in effect at the date of the initial issuance of the Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

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