Example ContractsClausesFailure to Maintain Insurance
Failure to Maintain Insurance
Failure to Maintain Insurance contract clause examples

Insurance. Within thirty (30) days after the Closing Date, the Borrower will provide the Administrative Agent, in form and substance reasonably satisfactory to Administrative Agent, true and correct copies of # if requested by the Administrative Agent, insurance policies, and # insurance policy endorsements naming the Administrative Agent as lender’s loss payee (and mortgagee, as applicable) on all policies for property hazard insurance and as additional insured on all policies for liability insurance.

Insurance. Each related Mortgaged Property is, and is required pursuant to the related Mortgage to be, insured by a property insurance policy providing coverage for loss in accordance with coverage found under a “special cause of loss form” or “all risk form” that includes replacement cost valuation issued by an insurer meeting the requirements of the related Loan Documents and having a claims-paying or financial strength rating of at least “A-:VIII” from A.M. Best Company or “[[Unknown Identifier]]” (or the equivalent) from Moody’s

Insurance. Notwithstanding anything to the contrary contained in this Agreement, the Parties acknowledge and agree that the Continuing Employees shall have the right to make claims under the insurance policies of the Target Entities to the extent such claims are based on facts, circumstances, occurrences, acts or omissions that first occurred prior to the Closing. Each Seller agrees to cooperate with Purchaser with respect to providing # prompt written notice of any claims asserted under any insurance policy in which a Target Entity is a named insured and # the necessary information, assistance and cooperation to Purchaser or any other Third Parties in connection with the defense of any such claims.

Insurance. Subtenant shall carry the insurance required under Section 8.2 of the Master Lease. Subtenant shall: notify landlord within 10 days following receipt of a cancellation notice as a result of nonpayment; maintain the agreed upon minimum insurance requirements throughout the lease term; and, to notify landlord if amount or type of insurance applicable to the premises is materially decreased.

Insurance. During the Term, each Party will procure and maintain insurance, including clinical trial liability and product liability insurance, with respect to its activities hereunder at all times during which any Product is being clinically tested in human subjects or commercially distributed or sold. It is understood that such insurance will not be construed to create a limit of either Party’s liability with respect to its indemnification obligations under this Article 14. Each Party will provide the other with written evidence of such insurance upon request. Each Party will provide the other with written notice at least ​ days prior to the cancellation, non-renewal or material change in such insurance or self-insurance which materially adversely affects the rights of the other Party hereunder.

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. Maintain general commercial liability insurance policy in an amount reasonably acceptable to it and the Company and continue to maintain such policy during the term of this Agreement;

Insurance. Certificates of insurance issued on behalf of insurers of the Borrower and the other Credit Parties, describing in reasonable detail the types and amounts of insurance (property and liability) maintained by the Borrower and such other Credit Parties, in each case naming the Administrative Agent as loss payee or additional insured, as the case may be, together with lender’s loss payable endorsements for such property and liability policies in form and substance satisfactory to the Administrative Agent.

Insurance. At such time as Licensee or any of its sublicensees begins any Clinical Trial relating to Licensed Product, Licensee shall, at its own expense, procure and maintain policies of comprehensive general liability insurance (including without limitation product liability insurance) in the amount of ​. All such policies shall name Merck as an additional insured, and insurers will waive all rights of subrogation against Merck. Upon Merck’s request, Licensee will promptly provide for itself and its sublicensees copies of certificates of insurance evidencing such coverages. Licensee shall notify Merck not less than ​ days in advance of any material change or cancellation of any policy. Licensee shall continue to maintain such insurance in effect after the expiration or termination of this Agreement during any period in which Licensee or its sublicensee continues to make, have made, use, sell, offer to sell or import Licensed Product. If any insurance is on a claims made basis, Licensee will maintain such insurance for a period of not less than ​ years after it has ceased all commercial sale, distribution or use of any Product.

Insurance. Except as disclosed on [Schedule 6.1(q)], the insurance policies of Farmor are in full force and effect and all premia have been paid to date. No claim has been made under the insurance policies of Farmor which is still pending at the date of this Agreement and, to the knowledge of Farmor, there are no circumstances likely to give rise to any such claim

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