Rebuilding Obligations Clause Samples

Rebuilding Obligations. If it becomes necessary for the District to rebuild the Stadium, the District will only be required to complete such rebuilding to the extent it receives insurance proceeds sufficient to effectuate the same. If such insurance proceeds are not sufficient to cover the entire cost of rebuilding, any rebuilding shall be as agreed to between the District and the Partnership. The District shall receive and hold, in its name, all insurance proceeds payable due to the destruction of the Stadium from forces outside of the District's control. If the Stadium is not rebuilt after destruction, the District shall be entitled to disburse all insurance proceeds received as required by the Act. The District shall have no obligation to rebuild any portion of the Leased Premises during the last five years of the Term or Grace Term unless a new lease agreement or long-term (at least ten (10) years) extension of this Agreement has been agreed to between the parties to this Agreement or their successors in interest. If a decision is made to not rebuild the Stadium, either party shall have the right to terminate this Agreement.
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Related to Rebuilding Obligations

  • Premises 25.1 If either Party uses the other Party’s premises, that Party is liable for all loss or damage it causes to the premises. It is responsible for repairing any damage to the premises or any objects on the premises, other than fair wear and tear. 25.2 The Supplier will use the Buyer’s premises solely for the performance of its obligations under this Call-Off Contract. 25.3 The Supplier will vacate the Buyer’s premises when the Call-Off Contract Ends or expires. 25.4 This clause does not create a tenancy or exclusive right of occupation. 25.5 While on the Buyer’s premises, the Supplier will: 25.5.1 comply with any security requirements at the premises and not do anything to weaken the security of the premises 25.5.2 comply with Buyer requirements for the conduct of personnel 25.5.3 comply with any health and safety measures implemented by the Buyer

  • Insurance Requirements Vendor agrees to maintain the following minimum insurance requirements for the duration of this Agreement. All policies held by Vendor to adhere to this term shall be written by a carrier with a financial size category of VII and at least a rating of “A‐” by A.M. Best Key Rating Guide. The coverages and limits are to be considered minimum requirements and in no way limit the liability of the Vendor(s). Any immunity available to TIPS or TIPS Members shall not be used as a defense by the contractor's insurance policy. Only deductibles applicable to property damage are acceptable, unless proof of retention funds to cover said deductibles is provided. "Claims made" policies will not be accepted. Vendor’s required minimum coverage shall not be suspended, voided, cancelled, non‐renewed or reduced in coverage or in limits unless replaced by a policy that provides the minimum required coverage except after thirty (30) days prior written notice by certified mail, return receipt requested has been given to TIPS or the TIPS Member if a project or pending delivery of an order is ongoing. Upon request, certified copies of all insurance policies shall be furnished to the TIPS or the TIPS Member. Vendor agrees that when Vendor or its subcontractors are liable for any damages or claims, Vendor’s policy, shall be primary over any other valid and collectible insurance carried by the Member or TIPS.

  • Equipment 26.1 The Supplier is responsible for providing any Equipment which the Supplier requires to provide the Services. 26.2 Any Equipment brought onto the premises will be at the Supplier's own risk and the Buyer will have no liability for any loss of, or damage to, any Equipment. 26.3 When the Call-Off Contract Ends or expires, the Supplier will remove the Equipment and any other materials leaving the premises in a safe and clean condition.

  • Environmental requirements 28.1 The Buyer will provide a copy of its environmental policy to the Supplier on request, which the Supplier will comply with. 28.2 The Supplier must provide reasonable support to enable Buyers to work in an environmentally friendly way, for example by helping them recycle or lower their carbon footprint.

  • Waiver of Subrogation The Parent Guarantor hereby irrevocably waives any claim or other rights which it may now or hereafter acquire against the Company that arise from the existence, payment, performance or enforcement of the Parent Guarantor’s obligations under the Parent Guarantee and the Indenture, including, without limitation, any right of subrogation, reimbursement, exoneration, indemnification, and any right to participate in any claim or remedy of any Holder of Notes against the Company, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without limitation, the right to take or receive from the Company, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim or other rights in relation to the Trustee until all monetary obligations of the Company under the Indenture and the Notes, whether for principal of or interest on the Notes, are paid in full. If any amount shall be paid to the Parent Guarantor in violation of the preceding sentence and the Notes shall not have been paid in full, such amount shall have been deemed to have been paid to the Parent Guarantor for the benefit of, and held in trust for the benefit of, the Holders of the Notes, and shall forthwith be paid to the Trustee for the benefit of such Holders to be credited and applied upon the Notes, whether matured or unmatured, in accordance with the terms of the Indenture. The Parent Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the waiver set forth in this Section is knowingly made in contemplation of such benefits.