Coverage Report Sample Clauses
A Coverage Report clause defines the requirement for one party to provide documentation proving that adequate insurance coverage is in place. Typically, this clause obligates the insured party to submit certificates of insurance or similar evidence to the other party, either at the start of an agreement or upon request, and may specify the types and amounts of coverage required. Its core function is to ensure transparency and verification of insurance, thereby reducing the risk of uninsured losses and confirming compliance with contractual insurance obligations.
Coverage Report. On a quarterly basis (the last Business Day of January, April, July and October, commencing January 31, 1989), such Surety Assets Coverage Report shall be confirmed by a letter in the form attached to Annex 3 hereto from the Fund's independent accountants delivered to Financial Security within three Business Days of the delivery of the Surety Assets Coverage Report. If any such letter shows that an error was made in the Surety Assets Coverage Report reviewed or shows that a lower aggregate Surety Assets Value for the Eligible Portfolio Property was determined by the independent accountants, the calculation or determination made by such independent accountants shall be final and conclusive and shall be binding on the Fund and Financial Security, and the Collateral Evaluator shall accordingly amend the Surety Assets Coverage Report and deliver the amended Surety Assets Coverage Report to Financial Security.
Coverage Report. As defined in Schedule 1.4.1.
Coverage Report. Before the first thirty (30) Calendar Days of each Concession Year and during the term thereof, the CONCESSIONAIRE will submit the following to OSITRAN:
a) A list of insurance policies to be hired and/or maintained by the CONCESSIONAIRE during the year in question, indicating at least the coverage, the insurance company, the claims made in the previous year and its current situation, and
b) A certificate issued by the authorized representative of the insurance company indicating that the CONCESSIONAIRE has met the terms of this Clause over the past year.
c) A list of all property acquired or built and culminated works that form part of the Concession Assets and which must be included in insurance policies to be renewed annually.
Coverage Report. Within the first sixty (60) Calendar Days of each Concession Year (including the first year in which the Closing Date occurs) and during the term of the Concession, the CONCESSIONAIRE shall submit to the GRANTOR, with a copy to the Supervisor, the following: A list of the insurance policies to be contracted by the CONCESSIONAIRE during the year in question, indicating, at least, the coverage, the insurance company, the claims made during the previous year and their current status; and, As of the second Concession Year, a certificate issued by the authorized representative of the insurance company indicating the policies and coverage that the CONCESSIONAIRE has contracted during the previous year, in order to demonstrate compliance with the terms of this chapter. Notwithstanding the foregoing, during the term of the Concession, and whenever the GRANTOR or the Supervisor so requires, the CONCESSIONAIRE shall submit reliable proof that all insurance policies are still in force and up to date in their payments. The GRANTOR, at any time, may request from the CONCESSIONAIRE the delivery of the original of the insurance policies it has contracted, or legalized copies thereof, as well as receipts or documents proving that it is up to date in the payment of the corresponding premiums. In the event of non-compliance with the obligation to keep the policies in force, the GRANTOR may execute the Guarantees, prior notice to the CONCESSIONAIRE, without prejudice to the penalties to which said non-compliance may give rise, or if applicable, the procedures foreseen for the Termination of the Contract shall apply, considering the grounds for Termination established in subparagraph h of Clause Error: Reference source not found. In case the GRANTOR executes the Guarantees partially or in their entirety, the CONCESSIONAIRE is obliged to reimburse it, in accordance with the provisions of Chapter IX.
Coverage Report. Within the first sixty (60) Calendar Days of each Concession Year and during the term of this, the CONCESSIONAIRE shall submit the following to the GRANTOR: