Minimum Insurance Coverage. It is the intent of the Members that [***] shall procure and at all times maintain for the benefit of the Company and the Members the insurance coverage specified on Annex F from insurance carriers or reinsurers with a minimum [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. A. M. Best’s financial strength rating of A-: VII, or S&P A or better and licensed to provide insurance in the jurisdictions in which work is to be performed; provided that any such insurance is obtainable on commercially reasonable terms and costs. The cost of any such insurance shall be allocated between [***]. It is the intent of the Members that all insurance required to be maintained by [***] in compliance with this Section 9.01 will be primary to any other insurance owned, secured or in place by the Members. [***] shall secure endorsements to this effect from all insurers of such policies.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Woodward, Inc.), Master Agreement (Woodward, Inc.)