Rating; Certificates; Cancellation Sample Clauses

The "Rating; Certificates; Cancellation" clause establishes requirements for maintaining certain insurance ratings, providing proof of insurance, and procedures for policy cancellation. Typically, it obligates a party to secure insurance from carriers with specified financial ratings, furnish certificates of insurance as evidence of coverage, and notify the other party in advance if the insurance is to be cancelled or materially altered. This clause ensures that adequate insurance coverage is maintained throughout the contract term, reducing risk and providing assurance that protection will not lapse unexpectedly.
Rating; Certificates; Cancellation. The policies required to be maintained by Tenant shall be with companies rated A:X or better in the most current issue of Best’s Insurance Reports, and licensed to do business in the state in which the Premises are located and domiciled in the USA. Except as provided in Section 12.1, above, any deductible amounts under any insurance policies required hereunder shall not exceed One Thousand Dollars ($1,000). Evidence of insurance (certificates and copies of the policies may be required) shall be delivered to Landlord prior to the Commencement Date. Each policy of insurance shall provide notification to Landlord at least thirty (30) days prior to any cancellation or modification. Tenant shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Premises and to Landlord as required by this Lease.
View SourceView Similar (6)
Rating; Certificates; Cancellation. The policies required to be maintained by Tenant shall be with companies rated A-X or better in the most current issue of Best’s Insurance Reports. Insurers shall be licensed to do business in the Commonwealth of Virginia and domiciled in the USA. Any deductible amounts under any insurance policies required hereunder shall be commercially reasonable. Certificates of insurance and certified copies of the policies shall be delivered to Landlord prior to the Commencement Date and annually thereafter at least thirty (30) days prior to the expiration date of the old policy. Tenant shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Premises and to Landlord as required by this Lease. Each policy of insurance shall provide notification to Landlord and any mortgagee(s) of Landlord at least thirty (30) days prior to any cancellation or modification to reduce the insurance coverage.
View SourceView Similar (5)
Rating; Certificates; Cancellation. The policies required to be maintained by Landlord shall be with companies rated A-X or better in the most current issue of Best’s Insurance Reports. Insurers shall be licensed to do business in the Commonwealth of Virginia and domiciled in the USA. Any deductible amounts under any insurance policies required hereunder shall be commercially reasonable, in Landlord’s reasonable judgment. Landlord shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Project and to Tenant as required by this Lease.
View SourceView Similar (4)
Rating; Certificates; Cancellation. The policies required to be maintained by Tenant shall be with companies rated “A” “XII” or better in the most current issue of Best’s Insurance Reports. Insurers shall be licensed to do business in the Commonwealth of Virginia and domiciled in the USA. Any deductible amounts under any insurance policies required hereunder shall be commercially reasonable and the satisfaction of same shall be Tenant’s sole responsibility. Certificates of insurance and certified copies of the policies shall be delivered to Landlord prior to the Commencement Date and annually thereafter at least thirty (30) days prior to the expiration date of the old policy. Tenant shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Premises and to Landlord as required by this Lease. Tenant or Tenant’s insurer shall provide notification to Landlord and any mortgagee(s) of Landlord at least thirty (30) days prior to any cancellation or modification to reduce the insurance coverage.
View SourceView Similar (2)
Rating; Certificates; Cancellation. The policies required to be maintained by Tenant shall be with companies rated A- or better in the most current issue of Best's Insurance Reports. Insurers shall be licensed to do business in the state in which the Premises are located and domiciled in the USA. Any deductible amounts under any insurance policies required hereunder shall be commercially reasonable. Certificates of insurance (certified copies of the policies may be required) shall be delivered to Landlord prior to the Commencement Date and annually thereafter at least thirty (30) days prior to the expiration date of the old policy. Tenant shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Premises and to Landlord as required by this Lease. Each policy of insurance shall provide notification to Landlord and any mortgagee(s) of Landlord at least thirty (30) days prior to any cancellation or modification to reduce the insurance coverage.
View SourceView Similar (2)
Rating; Certificates; Cancellation. The policies required to be maintained by Tenant shall be with companies rated A:X or better in the most current issue of Best's Insurance Reports, provided Landlord hereby approves Tenant's current insurance carrier, Fireman's Fund, irrespective of whether such carrier currently meets the foregoing rating requirement. Insurers shall be licensed to do business in the state in which the Premises are located. Any deductible amounts under any insurance policies required hereunder shall not exceed Ten Thousand Dollars ($10,000), provided that for so long as Tenant has a minimum net worth of at least Two Hundred Fifty Million Dollars or more ($250,000,000.00), Tenant shall have the right to self-insure a larger deductible (up to a maximum of Five Hundred Thousand Dollars ($500,000.00)), provided any such self insurance shall be deemed the functional equivalent of third party insurance for all purposes of this Lease, including but not limited to Article 19, hereof. Certificates of insurance which by their terms may be relied upon by Landlord shall be delivered to Landlord prior to the Commencement Date and annually thereafter at least thirty (30) days prior to the expiration date of the old policy. Tenant shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Premises and to Landlord as required by this Lease. Each policy of insurance shall provide notification to Landlord at least fifteen (15) days prior to any cancellation or modification to reduce the insurance coverage.
View SourceView Similar (2)
Rating; Certificates; Cancellation. The policies required to be maintained by Landlord shall be with companies rated A- or better in the most current issue of Best’s Insurance Reports. Insurers shall be licensed to do business in the state in which the Premises are located and domiciled in the USA. Certificates of insurance shall be delivered to Tenant prior to the Commencement Date and annually thereafter at least thirty (30) days prior to the expiration date of the old policy. Landlord shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Project and to Tenant as required by this Lease. Each policy of insurance shall provide notification to Tenant at least thirty (30) days prior to any cancellation or modification to reduce the insurance coverage.
View Source
Rating; Certificates; Cancellation. Except as hereafter provided, the policies of third party insurance required to be maintained by Tenant shall be with companies rated A:X 0 better in the most current issue of Best's Guide, or the financial equivalent thereof, and the insurance carriers shall be licensed to do business in the State of Pennsylvania. The foregoing notwithstandJg, ifand for so long as Tenant and/or Guarantor (as applicable) maintains a Tangible Net Worth!Cdefined below) in excess of Two Hundred Million Dollars ($200,000,000.00), Tenant may provide for any insurance required to be obtained by Tenant hereunder through a captive insurance group pperated and backed by Guarantor of which Tenant is a participant, or through other self-insurance which Tenant, through Guarantor, may provide, which conforms to the practice of large co~orations maintaining systems of self-insurance including satisfaction of certain specific requirements more fully described below, provided (i) any and all such captive insurance and/or self-insurancJshall beIestablished in compliance with all applicable Governmental Requirements, and (ii) any and all such captive insurance and/or self-insurance shall be deemed to be the functional equivalent of tHirdparty insurance for all purposes of this Lease, including the waivers set forth in Section 19.1, b1l0W. As a condition precedent to establishing a self-insurance plan in lieu of the insurance reqled to be 29
View Source
Rating; Certificates; Cancellation. The policies required to be maintained hereunder shall be with companies rated A:VII or better in the most current issue of Best's Insurance Guide, domiciled in the United States of America, and licensed to do business in the state in which the Premises are located. Each party shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords the coverage required by this Lease.
View Source

Related to Rating; Certificates; Cancellation

  • Closing Certificates; Etc The Administrative Agent shall have received each of the following in form and substance reasonably satisfactory to the Administrative Agent:

  • Closing Certificates; Certified Certificate of Incorporation; Good Standing Certificates The Administrative Agent shall have received (i) a certificate of each Loan Party, dated the Effective Date and executed by its Secretary or Assistant Secretary, which shall (A) certify the resolutions of its Board of Directors, members or other body authorizing the execution, delivery and performance of the Loan Documents to which it is a party, (B) identify by name and title and bear the signatures of the Financial Officers and any other officers of such Loan Party authorized to sign the Loan Documents to which it is a party, and (C) contain appropriate attachments, including the certificate or articles of incorporation or organization of each Loan Party certified by the relevant authority of the jurisdiction of organization of such Loan Party and a true and correct copy of its by-laws or operating, management or partnership agreement, and (ii) a long form good standing certificate for each Loan Party from its jurisdiction of organization.

  • Majority of the Certificates Control Except as otherwise expressly provided herein, any action that may be taken by the Certificateholders under this Agreement may be taken by the Holders of the Certificates evidencing not less than a majority of the Percentage Interest. Except as expressly provided herein, any written notice of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Holders of the Certificates evidencing not less than a majority of the Percentage Interest at the time of the delivery of such notice.

  • Closing Certificates The Administrative Agent shall have received a certificate of the Credit Parties, dated the Original Closing Date, substantially in the form of Exhibit I to the Original Credit Agreement, with appropriate insertions, executed by the President or any Vice President and the Secretary or any Assistant Secretary of each Credit Party, and attaching the documents referred to in Section 6.7.

  • Replacement Certificates If, on the date a Securityholder’s escrow securities are to be released, the Escrow Agent holds a share certificate or other evidence representing more escrow securities than are to be released, the Escrow Agent will deliver the share certificate or other evidence to the Issuer or its transfer agent and request replacement share certificates or other evidence. The Issuer will cause replacement share certificates or other evidence to be prepared and delivered to the Escrow Agent. After the Escrow Agent receives the replacement share certificates or other evidence, the Escrow Agent will send to the Securityholder or at the Securityholder’s direction, the replacement share certificate or other evidence of the escrow securities released. The Escrow Agent and Issuer will act as soon as reasonably practicable.