Required Policy definition

Required Policy means the policies of insurance required to be maintained by Tenant under the terms of this Lease. Each Required Policy shall be written by a company reasonably satisfactory to Landlord. Each Required Policy shall name Landlord and/or its designee(s) as loss payee; shall be primary and non-contributory from any other policy of insurance available to Landlord; and shall contain a waiver of subrogation provision in favor of Landlord. All Required Policies shall be endorsed so as to require thirty (30) days' prior written notice to Landlord, given in the manner set forth in Article XVIII hereof, in the event of cancellation, material change or intent not to renew. Each Required Policy (other than the worker’s compensation policies) shall name Landlord as additional insured. Tenant agrees to deliver to Landlord and/or Landlord's designee a certificate of insurance, in form and substance acceptable to Landlord, evidencing the required coverage for any Required Policy simultaneous with the execution of this Lease. At all times during the Lease Term (and prior thereto as applicable), Tenant shall cause the required evidence of coverage on all Required Policies to be deposited with Landlord. If Tenant fails to obtain and maintain the insurance required under this Lease, such failure may be treated by Landlord as an Event of Default by Tenant, and, if Tenant does not cure such failure or nonconformity within five
Sample 1
Required Policy means each policy of insurance required to be maintained by Lessee under the terms of this Agreement. Each Required Policy must be written by a company satisfactory to Lessor, but in all events by a company with an A.M. Best Company financial rating of not less than A XII (or a similar rating by a comparable service selected by Lessor should A.M. Best Company cease providing such ratings) and be licensed to do business in Texas or, if the aforesaid is not available, by a company qualified to do business as a non- admitted insurer in Texas under current Texas surplus lines requirements. Each Required Policy must be endorsed to be primary, with the policies of Lessor or any other party being excess, secondary, and noncontributing. No Required Policy may include an endorsement restricting, limiting, or excluding coverage in any manner without the prior written consent of Lessor. All Required Policies may contain a deductible of not more than $25,000. Such policies must be endorsed so as to require 30 days prior written notice to Lessor in the event of cancellation, material change or intent not to renew. Required Policies must contain a standard separation of insureds provision, when applicable and available. Lessee must deliver to Lessor a certificate of insurance and copies of any additional insured, loss payee, and waiver of subrogation endorsements for any Required Policy no later than the Effective Date. If requested, Lessee must provide to Lessor on demand a certified copy of any Required Policy and applicable endorsements. All endorsements must be in form and substance acceptable to Lessor. The required evidence of coverage must always be deposited with Lessor. If Lessee fails to do so, such failure may be treated by Lessor as a default by Xxxxxx and Lessor, in addition to any other remedy under this Agreement, may purchase and maintain such Required Policy and Lessee must immediately reimburse Lessor for any premiums paid or costs incurred by Lessor in providing such insurance. Failure of Lessee to reimburse Lessor is a default by Xxxxxx in the payment of Rent. At Lessor's option, Lessor may draw on the Letter of Credit to reimburse itself for any premiums paid or costs incurred by Lessor in providing such insurance. Lessee must notify Lessor immediately upon discovery of any fact or condition that may result in a claim covered by the insurance or indemnity provisions contained in this Agreement.
Sample 1
Required Policy means each policy of insurance required to be maintained by GRANTEE under the terms of this agreement. Each Required Policy must be written by a company satisfactory to GRANTOR, but in all events by a company with an A.M. Best Company financial rating of not less than A - XII (or a similar rating by a comparable service selected by GRANTOR should A.M. Best Company cease providing such ratings) and be licensed to do business in Texas or, if the aforesaid is not available, by a company qualified to do business as a non-admitted insurer in Texas under current Texas surplus lines requirements. GRANTEE must deliver to GRANTOR a certificate of insurance for any Required Policy within 10 days of execution of this agreement. The required evidence of coverage must always be deposited with GRANTOR. If GRANTEE fails to do so, such failure may be treated by GRANTOR as a default by GRANTEE under this agreement and GRANTOR, in addition to any other remedy under this agreement, may purchase and maintain such Required Policy and GRANTEE must immediately reimburse GRANTOR for any premiums paid or costs incurred by GRANTOR in providing such insurance. Failure of GRANTEE to reimburse GRANTOR is a default by GRANTEE of this agreement.
Sample 1

Examples of Required Policy in a sentence

  • With respect to cancellation and non-renewal, Required Policy Period means a period of three years from the date the policy is first issued or voluntarily renewed.

  • The New York Insurance Law requires that we continue your coverage during the Required Policy Period which is a period of three years from the date the policy is first issued or voluntarily renewed.

  • If Lessee fails to do so, such failure may be treated by Lessor as a default by Xxxxxx and Lessor, in addition to any other remedy under this Agreement, may purchase and maintain such Required Policy and Lessee must immediately reimburse Lessor for any premiums paid or costs incurred by Lessor in providing such insurance.

  • Lessee INDEMNIFIES, DEFENDS, and HOLDS HARMLESS Lessor from any loss it may suffer due to Xxxxxx's failure to comply with all the above insurance requirements, including the requirement for obtaining waivers of subrogation, and due to any insurance coverage being invalidated because of Lessee's failure to comply with the terms, conditions and warranties of any Required Policy.

  • Each Required Policy must be written by a company satisfactory to Lessor, but in all events by a company with an A.M. Best Company financial rating of not less than A XII (or a similar rating by a comparable service selected by Lessor should A.M. Best Company cease providing such ratings) and be licensed to do business in Texas or, if the aforesaid is not available, by a company qualified to do business as a non- admitted insurer in Texas under current Texas surplus lines requirements.

  • Xx. Xxxxxx advised that a recent VSBA weekly update included a new Required Policy (D7 – Special Education).

  • Thank you, Xxxxx Xxxxx Exhibit B Insurance Requirements Specific Insurance Requirements and Required Policy Limits PROFESSIONAL SERVICES CONTRACTS: Including, but not limited to architects, engineers, consultants, counselors, attorneys and accountants.

  • Each Required Policy must be endorsed to require, that the insurer notify the District not less than thirty days prior to any cancellation, termination, reduction in coverage, or expiration without renewal of the Required Policy, except for cancellation due to non-payment of premium, in which case the insurer must provide such notice not less than ten days prior to cancellation.

  • No Required Policy may include an endorsement restricting, limiting, or excluding coverage in any manner without the prior written consent of Lessor.

  • Lessee must deliver to Lessor a certificate of insurance and copies of any additional insured, loss payee, and waiver of subrogation endorsements for any Required Policy no later than the Effective Date.


More Definitions of Required Policy

Required Policy or “Required Policies”, as applicable, as defined in the Mortgage Loan Insurance Agreement.
Sample 1
Required Policy means each policy of insurance required to be maintained by Lessee under the terms of this Lease. Each Required Policy must be written by a company satisfactory to Lessor, but in all events Lessee will use its best efforts to obtain coverage from a company with an A.M. Best Company financial rating of not less than A-XII, if commercially available on reasonable terms, but in no event with a company rated less than A-VII (or a similar rating by a comparable service selected by Lessor should A.M. Best Company cease providing such ratings, or such other rating reasonably acceptable to Lessor should the required rating not be commercially available on reasonable terms) and be licensed to do business in Texas or by a company qualified to do business as a non-admitted insurer in Texas under current Texas surplus lines
Sample 1
Required Policy. Required Policy shall have the meaning set forth below in Section 17.
Sample 1

Related to Required Policy

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

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Required Permit means a Permit (a) issued or required under Laws applicable to the business of Borrower or any of its Subsidiaries or necessary in the manufacturing, importing, exporting, possession, ownership, warehousing, marketing, promoting, sale, labeling, furnishing, distribution or delivery of goods or services under Laws applicable to the business of Borrower or any of its Subsidiaries or any Drug Application (including without limitation, at any point in time, all licenses, approvals and permits issued by the FDA or any other applicable Governmental Authority necessary for the testing, manufacture, marketing or sale of any Product by any applicable Borrower(s) as such activities are being conducted by such Borrower with respect to such Product at such time), and (b) issued by any Person from which Borrower or any of their Subsidiaries have received an accreditation.

  • 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.

  • Lapsed Policy means a Policy which has not acquired the Surrender Value and where the due Premium has not been received till the expiry of the Grace Period;

  • Shared Policies has the meaning set forth in Section 8.1(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.

  • 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.

  • R&W Policy means a representation and warranty insurance policy for the benefit of Buyer obtained in connection with this Agreement on the terms described on Schedule 1.01 of the Buyer Disclosure Schedule.

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

  • Required Insurance shall have the meaning provided in Section 9.03.

  • Required Permits shall have the meaning set forth in Section 6.24.

  • 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.

  • Medicare supplement policy means a group or individual policy of [accident and sickness] insurance or a subscriber contract [of hospital and medical service associations or health maintenance organizations], other than a policy issued pursuant to a contract under Section 1876 of the federal Social Security Act (42 U.S.C. Section 1395 et. seq.) or an issued policy under a demonstration project specified in 42 U.S.C. § 1395ss(g)(1), which is advertised, marketed or designed primarily as a supplement to reimbursements under Medicare for the hospital, medical or surgical expenses of persons eligible for Medicare. “Medicare supplement policy” does not include Medicare Advantage plans established under Medicare Part C, Outpatient Prescription Drug plans established under Medicare Part D, or any Health Care Prepayment Plan (HCPP) that provides benefits pursuant to an agreement under §1833(a)(1)(A) of the Social Security Act.

  • Reinsured Policies has the meaning assigned to it in the Reinsurance Agreement.

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

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

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Reimbursement insurance policy means a policy of insurance

  • Policy means Related Party Transaction Policy.

  • Required Party has the meaning set forth in Section 4.03 of this Agreement.

  • Required Consent has the meaning set forth in Section 4.4.

  • Insurance Regulator any Person charged with the administration, oversight or enforcement of any Insurance Regulation.

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

  • Insurance score means a number or rating that is derived from an algorithm, computer application, model, or other process that is based in whole or in part on credit information for the purposes of predicting the future insurance loss exposure of a consumer.

  • Premium Letter means the letter agreement dated the Closing Date among LBAC, the Issuer and the Note Insurer referring to payment of the Premium.