Current Insurance Clause Examples
The Current Insurance clause requires a party to maintain specific insurance coverage during the term of an agreement. Typically, this means the party must have active policies such as general liability, property, or professional indemnity insurance, and may need to provide proof of such coverage to the other party upon request. This clause ensures that adequate financial protection is in place to cover potential losses or liabilities, thereby reducing risk and providing assurance to all parties involved.
Current Insurance.ÌýLender hereby acknowledges that the insurance coverages under the certificates of insurance delivered to Lender in connection with the execution and delivery of this Agreement are currently acceptable to Lender as of the date hereof for the periods covered under the policies described in said certificates for purposes of this Section 5.1.
Current Insurance.ÌýThe Customer must obtain and maintain at all times with a reputable insurance company:
(a) where a Supply Agreement contemplates that the Customer is responsible for collecting, shipping or transporting Equipment, insurance for the replacement value of the Equipment against Damage, including Damage in transit to the Customer’s address for delivery;
(b) a broad form public liability policy of insurance to the value of at least $20,000,000 in respect of each claim covering all Damage or Claims arising out of or in connection with a Supply Agreement (including Damage to property, personal injury to any person and the use or operation of the Equipment);
(c) third party and property Damage insurance with coverage in the sum of $20,000,000; and
(d) any other insurance that TEN reasonably considers necessary to ensure its interests are protected against any Liability incurred under a Supply Agreement, including any such higher cover limits as TEN may reasonably require from time to time.
Current Insurance.ÌýEach Party shall obtain and maintain during the Term the following insurance coverage:
(i) Commercial General liability insurance with a limit of not less than $5 million per claim/$5 million annual aggregate.
(ii) Errors and Omissions/Professional Liability, including Media Liability insurance, with a limit of not less than $5 million per claim/$5 million annual aggregate.
(iii) Cyberliability insurance with a limit of not less than $5 million per claim/$5 million annual aggregate.
Current Insurance.ÌýLender hereby acknowledges that the insurance coverage evidenced by the certificates of insurance delivered to Lender in connection with the closing of the Loan are acceptable to Lender as of the date hereof for purposes of this Section 5.1.Section 5.2
Current Insurance.ÌýCertificates for Borrower and each Covered Person evidencing that Borrower and each Covered Person has in force insurance meeting the applicable requirements of the Loan Agreement, showing LaSalle Bank National Association, as administrative agent for itself and the other lenders, as additional insured on all liability policies.
Current Insurance.ÌýSchedule H sets forth DCR’s current applicable insurance coverages as of the Commencement Date.
Current Insurance.ÌýLender hereby acknowledges that the insurance coverage evidenced by the certificates of insurance delivered to Lender in connection with the
Current Insurance.ÌýThe Parties agree that Contractor may keep in place its insurance policies existing as of the Effective Date through their current expiration dates.
Current Insurance.ÌýCyberDefender represents and warrants that it currently maintains the following insurance coverage: (i) Commercial General liability insurance with a limit $1 million per claim/$5 million annual aggregate.
Current Insurance.ÌýSchedule H sets forth PRC’s current applicable insurance coverages as of the Commencement Date.