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Severability of Interest, Primary and Non-Contributory
Severability of Interest, Primary and Non-Contributory contract clause examples
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§ 5.13.1.4 Unless otherwise provided in the Design-Build Documents, when the Owner performs construction or operations related to the Project with the Owner’s own forces or separate contractors, the Owner shall be deemed to be subject to the same obligations, and to have the same rights, that apply to the Design-Builder under the Contract. The Owner shall cause its separate contractors to be subject to the Design-Builder’s safety directions and program while on the jobsite. The Owner shall also require its separate contractors to name the Design-Builder as an additional insured under the separate contractor’s commercial general liability policy, on a primary and non- contributory basis, and to waive subrogation rights against the Design-Builder to the extent of any recovery from applicable property insurance.

§ 5.13.1.4 Unless otherwise provided in the Design-Build Documents, when the Owner performs construction or operations related to the Project with the Owner’s own forces or separate contractors, the Owner shall be deemed to be subject to the same obligations, and to have the same rights, that apply to the Design-Builder under the Contract. The Owner shall cause its separate contractors to be subject to the Design-Builder’s safety directions and program while on the jobsite. The Owner shall also require its separate contractors to name the Design-Builder as an additional insured under the separate contractor’s commercial general liability policy, on a primary and non-contributory basis, and to waive subrogation rights against the Design-Builder to the extent of any recovery from applicable property insurance.

All policies (except the worker’s compensation policy) shall be endorsed to include as additional insured parties the parties listed on, or required by, the Lease and their respective beneficiaries, partners, directors, officers, employees and agents, and such additional persons as Landlord may designate. The waiver of subrogation provisions contained in the Lease shall apply to all insurance policies (except the worker’s compensation policy) to be obtained by Tenant pursuant to this Paragraph. The insurance policy endorsements shall also provide that all additional insured parties shall be given thirty (30) days’ prior written notice of any reduction, cancellation or non-renewal of coverage (except that ten (10) days’ notice shall be sufficient in the case of cancellation for non-payment of premium) and shall provide that the insurance coverage afforded to the additional insured parties thereunder shall be primary to any insurance carried independently by said additional insured parties. Additionally, where applicable, each policy shall contain a cross-liability and severability of interest clause.

Proforma Calculation of Adjusted Primary FAL. A proforma calculation of Adjusted Primary FAL as at the date of closing of this Facility in accordance with clause 6.23(e) herein.

Commercial General Liability Insurance with limits of not less than One Million Dollars ($1,000,000) per occurrence for bodily injury and property damage, One Million U.S. Dollars ($1,000,000) any one person or organization for personal and advertising injury, Two Million Dollars ($2,000,000) general aggregate, covering: property/operations liability; personal injury liability; and broad form contractual liability. Tenant's policy shall be primary and non-contributory to any other insurance available to Landlord with respect to claims arising from Tenant's use and occupancy of the premises and it shall be endorsed to add as an additional insured whichever entities Landlord may require in its reasonable discretion, which as of the Lease Date are: Rockpoint Group, L.L.C., Rockhill Management, L.L.C., Rockpoint Real Estate Fund V, L.P., Rockpoint Real Estate Fund V Offshore AIV, L.P., [[Landlord:Organization]] GP LLC, Las Cimas Member LP, and [[Landlord:Organization]].

Interest; Computation of Interest. Each Credit Extension shall bear interest on the outstanding principal amount thereof from the date when made until paid in full at a rate per annum equal to the Applicable Interest Rate. Each Lender may, upon the failure of Borrower to pay any fees or interest as required herein, capitalize such interest and fees and begin to accrue interest thereon until paid in full, which such interest shall be at a rate per annum equal to the Applicable Interest Rate unless and until the Default Rate shall otherwise apply. All other Obligations shall bear interest on the outstanding amount thereof from the date they first become payable by Borrower under the Financing Documents until paid in full at a rate per annum equal to the Applicable Interest Rate unless and until the Default Rate shall otherwise apply. Interest on the Credit Extensions and all fees payable under the Financing Documents shall be computed on the basis of a three hundred sixty (360) day year and the actual number of days elapsed in the period during which such interest accrues. In computing interest on any Credit Extension or other advance, the date of the making of such Credit Extension or advance shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension or advance is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension or advance. As of each Applicable Interest Rate Determination Date, Agent shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the Credit Extensions.

Section # Non-Performing Assets to Tangible Primary Capital

Notice of Interest Period and Interest Rate. Promptly after receipt of a Notice of Borrowing pursuant to [Section 2.02(a)], a notice of Conversion pursuant to [Section 2.09] or a notice of selection of an Interest Period pursuant to the definition ofInterest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

Notice of Interest Period and Interest Rate. Promptly after receipt of a Notice of Borrowing pursuant to [Section 2.02(a)], a notice of Conversion pursuant to [Section 2.09] or a notice of selection of an Interest Period pursuant to the definition ofInterest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

Interest Account and Interest Computations. The Administrative Agent shall record in an account or accounts maintained by the Administrative Agent on its books # the Applicable Interest Rate for the Loans; # the date and amount of each principal and interest payment on each Loan; and # such other information as the Administrative Agent may determine is necessary for the computation of interest payable by the Borrower hereunder consistent with the basis hereof. The Borrower agrees that all computations by the Administrative Agent of interest shall be deemed prima facie to be correct in the absence of manifest error.

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