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Failure to Maintain Insurance
Failure to Maintain Insurance contract clause examples
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Insurance. Each Party shall obtain and maintain at its own expense insurance of the type generally maintained in the ordinary course of its business. Except as otherwise specified in the Transition Services Schedules, the Service Provider shall not be required to obtain and maintain any particular insurance in relation to providing any Service.

Insurance. The Company maintains insurance of the types and in the amounts that the Company reasonably believes is adequate for its businesses, including, but not limited to, insurance covering real and personal property owned or leased by the Company against theft, damage, destruction, acts of vandalism and all other risks customarily insured against by similarly situated companies, all of which insurance is in full force and effect.

Insurance. The Company will, to the extent necessary for the operation of its business, keep adequately insured by financially sound reputable insurers, all property of a character usually insured by similarly situated corporations and carry such other insurance as is usually carried by similar corporations.

Insurance. USPB further agrees that during the term of employment and for a period of six (6) years after termination of employment, including expiration of employment, USPB shall maintain in full force and effect a director's and officer's insurance policy insuring the CEO against liability asserted and incurred by the CEO in the CEO's capacity as an officer, manager, employee or agent of USPB Entities or arising from the CEO's status as an officer, manager, employee or agent of USPB Entities. The insurance shall be in amounts and contain terms and conditions as are reasonable and customary for a company of the size and scope of USPB participating in the industry and business in which USPB is engaged, all as determined by the mutual agreement of USPB and the CEO.

Insurance. Subtenant shall obtain and keep in force and effect, at Subtenant's sole cost and expense, during the Term, the insurance required under Section 10 of the Master Lease, as incorporated herein. Subtenant shall name both Sublandlord and Master Landlord as additional insureds under its liability insurance policy, and certificates thereof shall be delivered to both Sublandlord and Master Landlord prior to Subtenant's initial occupancy of the Premises. The release and waiver of subrogation set forth in [Section 10.5] of the Master Lease, as incorporated herein, shall be binding on the parties.

INSURANCE. Following the closing of the anticipated transactions between the Company and Zhonghuan Ruiheng Environmental Technology Co., Ltd. (“ China”) pursuant to which the Company shall obtain a controlling interest in China (the “ Transaction”) shall have been completed and the Company shall have obtained such controlling interest, as determined by the Company, the Company will obtain and maintain a policy or policies of director and officer liability insurance, of which the Director will be named as an insured, providing the Director with coverage for Indemnifiable Amounts and/or Indemnifiable Expenses in accordance with said insurance policy or policies (“D&O Insurance”); provided that:

Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written request the Company will provide to the Buyer true and correct copies of all policies relating to directors’ and officers’ liability coverage, errors and omissions coverage, and commercial general liability coverage.

INSURANCE. Consultant shall be solely responsible for all of his own health insurance and shall at all times maintain such types and amounts of insurance (including automobile liability insurance) as is acceptable to or required by the Company, and Consultant shall furnish proof of insurance to the Company upon request. Consultant shall comply with any workers’ compensation laws applicable to Consultant and his business,

INSURANCE. LESSEE shall maintain at its expense a commercial general liability policy insuring LESSEE, LESSOR, and OWNER against all claims for personal injuries (including death) and/or property damage arising out of the use, control, condition, or occupancy of the premises, including any common areas, by LESSEE parties, including damage by fire or casualty, such policy to insure LESSEE, LESSOR, and OWNER against any claim up to $1,000,000 for each occurrence involving personal injuries (including death), and $1,000,000 for each occurrence involving property damage. This insurance shall be primary to and not contributory with any insurance carried by LESSOR, whose insurance shall be excess. LESSOR and OWNER shall be included in each such policy as additional insureds using ISO form CG 20 2611 85, ISO form CG 2011 01 96 (without exclusions), ISO form CG 20 11 04 13 (without exclusions), or some other form approved in writing by LESSOR, and each such policy shall be issued by a company or companies satisfactory to LESSOR Prior to occupancy, LESSEE shall deliver to LESSOR a copy of such policy, together with the declarations page and all applicable riders and endorsements, showing that such insurance is in force, and thereafter will deliver, prior to the expiration of any such policy, notice of renewal of same. In the event any such policy or coverage changes, a copy of the policy, declarations page, and all applicable riders and endorsements shall be delivered to LESSOR within 10 days of such change. No policy shall be cancelled without at least 10 days’ prior written notice to each insured. If LESSEE fails to deliver or maintain such insurance at any time during the term of this lease, LESSOR may, without further notice to LESSEE, elect to obtain such insurance, whereupon LESSEE shall pay LESSOR a reasonable charge for such insurance, plus LESSOR’S administrative expenses.

Insurance. has made available to the Bank copies of all current insurance policies and binders (the “Insurance Policies”) # insuring the business or properties of or # which provide insurance for any director, officer, employee, fiduciary or agent of that is held by or on behalf of . All material Insurance Policies are in full force and effect (to ’s Knowledge, free from any presently exercisable right of termination on the part of the insurance company issuing such policy prior to the expiration of the terms of such policy) and all premiums due and payable in respect thereof have been paid. Except as set forth in Section 3.18 of the Disclosure Schedule, there are no outstanding claims under any Insurance Policy nor have there been any claims which have been denied or disputed by the insurer. has not received written or, to ’s Knowledge, oral notice of cancellation or termination with respect to any Insurance Policy that has not been replaced on substantially similar terms prior to the date of such cancellation. The transactions contemplated by this Agreement shall not give rise to a right of termination of any such policy by the insurance company issuing the same prior to the expiration of one term of such policy.

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