Insurances required Sample Clauses
The 'Insurances required' clause sets out the specific types and levels of insurance coverage that a party must maintain during the term of an agreement. Typically, this includes requirements for policies such as general liability, professional indemnity, or workers’ compensation, and may specify minimum coverage amounts, proof of insurance, and obligations to keep policies current. By clearly defining these insurance obligations, the clause ensures that both parties are protected against potential risks and liabilities that may arise during the course of their relationship, thereby allocating risk and providing financial security.
Insurances required. The Lessee must at its cost effect and maintain with insurers approved by the Lessor (noting the Lessor’s and the Lessee’s respective rights and interest in the Premises) for the time being:
(a) adequate public liability insurance covering the respective rights, interests, obligations and risks of the parties in terms of and subsequent to this Lease for a sum not less than the sum set out at Item 8 of Schedule 1 in respect of any one claim or such greater amount as the Lessor may from time to time reasonably require;
(b) insurance to cover the Lessee’s equipment, moveable assets or other belongings against loss or damage by fire, fusion, smoke, lightning, flood, ▇▇▇▇▇, ▇▇▇▇▇▇▇, earthquake, sprinkler leakage, water damage, loss from theft or burglary and other usual risks against which a Sublessee can and does ordinarily insure in their full replacement value; and
(c) insurance to the full insurable value on a replacement or reinstatement value basis of the Premises and the Improvements against damage arising from fire, tempest, storm, earthquake, explosion, aircraft, or other aerial device including items dropped from any device, riot, commotion, flood, lightning, act of God, fusion, smoke, rainwater, leakage, impact by vehicle, machinery breakdown and malicious acts or omissions and other standard insurable risks which an owner can and does ordinarily insure, including in respect of all insurances, architects and other consultants’ fees and the cost of demolition and removal of building waste or debris.
Insurances required. The Operator must, at its own cost, procure and maintain (or caused to be procured and maintained) insurance policies in relation to the Project consistent with Good Industry Practice, including the following insurances: during the Construction Period only, contract works insurance for the full replacement or reinstatement value of the Facility plus amounts sufficient to cover costs of demolition and removal of debris, including coverage for material and equipment in transit; during the Operations Period only, industrial special risks insurance for each Operations Year reflecting a combined limit of no less than the full replacement or reinstatement value of the Facility, plus amounts sufficient to cover costs of demolition and removal of debris, professional fees and an amount to cover additional costs and expenses to expedite the commencement and completion of the repair, replacement or reinstatement of the Facility; throughout the Term: public and products (completed operations) liability insurance for an amount of at least $20 million (Indexed) for each and every occurrence and in the annual aggregate regards to product liability and completion operations; workers' compensation scheme insurance and motor vehicle liability insurance as required by Law; and any other insurance required by Law. The insurances required to be procured and maintained under each of clauses 12.1(a), 12.1(b) and 12.1(c)(i) must be maintained with an insurance company that has a Required Rating.
Insurances required. 13.1.1 MORILA shall, at its own cost and expense obtain and maintain, or cause to be obtained and maintained from the date of this Agreement the policies of insurance, the minimum requirements of which are set out in Exhibit 5, in the amounts specified and during the period or periods mentioned in Exhibit 5. Mopps shall be named as one of a number of insureds with a severable interest on any such insurance procured by MORILA.
13.1.2 MORILA shall be free at any time to increase the amounts of cover above the amounts therein specified, but MORILA shall not reduce such amounts without the prior written consent of Mopps.
13.1.3 MORILA shall not be in breach of its obligations hereunder if and to the extent that any particular insurance is unavailable to it under commercially reasonable terms except where such non-availability shall be due to the act or neglect of MORILA.
13.1.4 If and to the extent an Insurable Event ceases to be insurable at reasonable commercial terms then the Parties shall meet to discuss methods of addressing the issue and unless the reason for the insurance no longer being so available shall arise out of the act or neglect of MORILA then until insurance shall be so available at commercial terms the previously Insurable Event shall be deemed to be a Non-Insurable Event.
Insurances required. During the Term, the Customer must effect and maintain with a reputable insurance company the following insurances which are required to note the interests of Terminal Operations Co on each policy:
(a) public liability insurance to the amount of $200,000,000.00;
(b) insurance for an amount not less than $100,000,000.00 in respect of:
(i) damage to real property and personal property; and
(ii) injury to or death of any person.
Insurances required. During the Term, the Customer must effect and maintain with a reputable insurance company the Insurances which are required to note the interests of Terminal Operations Co on each policy.
Insurances required. Before commencement of any land disturbance activities on the Development Property, Developer or Owner, as applicable, shall deliver to City certificates of insurance, copies of endorsements, and other evidence of insurance requested by City, which Developer or Owner, as applicable, is required to purchase and maintain, or cause to be purchased or obtained, in the types and amounts of coverage listed below:
Insurances required. Home Institution must maintain public liability insurance to a limit of $20 million per any one event for an act or omission on the part of the Student that results in injury, loss or damage Student will be responsible for own travel insurance If Student will be entering Australia on a student visa, Student must obtain Overseas Student Health Cover (as required by Australian Government)
Insurances required. (a) Sodexo must effect and maintain the following insurances with a reputable insurer acceptable to Asian Institute of Technology for the Term in respect of the provision of the Services:
(i) public liability insurance for not less than 10 million Baht per occurrence in the name of Sodexo;
(ii) to the extent required by Law, workers' compensation insurance in respect of Sodexo's liability for any loss or claim for injury to or death of a person employed or otherwise engaged, or deemed to be employed or otherwise engaged, by Sodexo in connection with the Services;
(iii) professional indemnity insurance, covering liability for any act, error or omission arising out of or in any way connected with the performance of the Services, for not less than 10 million Baht per occurrence in the name of Sodexo;
(iv) any other insurance Sodexo is required by Law to hold in order to perform its obligations under this Agreement; and
(v) insurance against theft or damage to equipment, goods and materials including any owned by Sodexo.
(b) Asian Institute of Technology must effect and maintain the following insurances with a reputable insurer for the Term in respect of the premises at which the Services are provided:
(i) insurance against the effects of fire, flood and water damage.
Insurances required. The Operator must, at its own cost, procure and maintain insurance policies in relation to the Project consistent with Good Industry Practice, including the following insurances:
(a) during the Construction Period only, contract works insurance for the full replacement or reinstatement value of the Facility plus amounts sufficient to cover costs of demolition and removal of debris, including coverage for material and equipment in transit;
(b) during the Operations Period only, industrial special risks insurance for each Operations Year reflecting a combined limit of no less than the full replacement or reinstatement value of the Facility, plus amounts sufficient to cover costs of demolition and removal of debris, professional fees and an amount to cover additional costs and expenses to expedite the commencement and completion of the repair, replacement or reinstatement of the Facility;
(c) throughout the Term:
(i) public and product liability insurance for an amount of at least $20 million (Indexed) per claim;
(ii) workers' compensation scheme insurance and motor vehicle liability insurance as required by Law; and
(iii) any other insurance required by Law.
Insurances required. The amount of public liability insurance required in clause 12.1(a) ($200,000,000), as well as the threshold of $100,000,000 cover for damage to property and injury & death, seem extraordinarily high. By contrast, the ▇▇▇▇▇▇▇ Terminals National Terminal Access Terms & Conditions (Clause 6(a) see: ▇▇▇.▇▇▇▇▇▇▇.com.au – Customer Information tab) requires insurance coverage of $20,000,000 for third party property and public risk liability insurance. We note that Schedule 2 of the Standard Customer Agreement indicates that Terminal Operations Co will publish standard carrier terms and conditions (Carrier Access Terms) that will govern access by Carriers to the IMEX Terminal. It is important that these Carrier Access Terms are negotiated with Carriers ahead of the commencement of operations at the IMEX Terminal. Container terminal access at Port Botany and the associated conditions of use of Vehicle Booking Systems (VBS) are governed by the Port Botany Landside Operations Mandatory Standards set out in Part 3 of the Ports and Maritime Administration Regulation 2012. While it is understood that it is not currently anticipated that the regulated mandatory standards will be extended to access conditions at the Moorebank IMEX Terminal, it will be beneficial to Carriers and Customers for the Terminal Carrier Access Terms to replicate the mandatory standards to a practical degree. For instance, Clause 2.2(f) in Schedule 2 contemplates that the Carrier must comply with all timing and other requirements relating to a booking as confirmed during the booking process, and that a “no show” fee may apply if the vehicle does not show up for its manifested booking. However, Schedule 2 is silent on the issue of whether compensation may be applicable to the Carrier if a vehicle is unduly delayed at the IMEX Terminal other than due to an unforeseen event or Force Majeure. It will be preferable for the IMEX Terminal Carrier Access Agreement to be akin to a Service Level Agreement (SLA) between the contracting parties with identified key performance indicators applicable to each party, more so than a one-sided contract as exists with the existing container stevedore terminals. It is assumed that the Terminal Operations Co will procure Vehicle Booking System (VBS) services from a VBS technology provider, most likely 1-Stop Connections Pty. Ltd. given its part ownership by Qube through its financial interest in ▇▇▇▇▇▇▇ Terminals. However, we understand that Terminal Operations Co wou...