Common use of Regulatory Oversight Clause in Contracts

Regulatory Oversight. SECTION 8.1 - INDEMNIFICATION [SEE G.L.c. 166A 5(b)] SECTION 8.2 - INSURANCE [SEE G.L.c. 166A 5(c)] (a) The Licensee shall carry insurance throughout the term of this Renewal License and any removal period pursuant to G.L.c. 166A, 5(f) with the Town as a named insured with an insurance company authorized to conduct business in Massachusetts satisfactory to the Issuing Authority indemnifying the Town and the Licensee from and against any and all claims for injury or damage to persons or property, both real and personal, caused by the construction, installation, operation, maintenance or removal of its Cable System. The amount of such insurance against liability for damage to property (b) The Licensee shall carry insurance against all claims arising out of the operation of motor vehicles and general tort or contract liability in the amount of One Million Dollars ($1,000,000). Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation. (c) All insurance coverage, including Workers' Compensation, shall be maintained throughout the period of this Renewal License. All expenses incurred for said insurance shall be at the sole expense of the Licensee. Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation. (d) The Licensee shall provide Issuing Authority with certificate(s) of insurance for all policies required herein on an annual basis. SECTION 8.3 - PERFORMANCE BOND [SEE G.L.c. 166A 5(k)] (a) The Licensee has submitted and shall maintain throughout the duration of the Renewal License and any removal period pursuant to G.L.c. 166A, 5(f) a performance bond running to the Town with a company surety satisfactory to the Issuing Authority to guarantee the following terms: (1) the satisfactory completion of the installation and operation of the Cable System in the time schedule provided herein and otherwise of G.L.c. 166A 5(a), (m) and (n); (2) the satisfactory restoration of pavements, sidewalks and other improvements in accordance with G.L.c. 166A 5(g); (3) the indemnity of the Town in accordance with G.L.c.166A 5(b); and (4) the satisfactory removal or other disposition of the Cable System in accordance with G.L.c. 166A 5(f). (b) During the period of rebuild construction this bond shall be in the amount of One Hundred Thousand Dollars ($100,000). (c) Upon completion of rebuild construction and following a reasonable period of satisfactory operation as determined by the Issuing Authority and the Licensee the amount of the bond shall be reduced to Twenty-five Thousand Dollars ($25,000). (d) The Licensee shall not reduce the amount or cancel said bond, or materially change said bond from the provisions of Section 9.3(a) herein without providing the Issuing Authority with thirty (30) days’ written notice prior to reducing or canceling the bond.

Regulatory Oversight. SECTION 8.1 9.1 - INDEMNIFICATION [SEE G.L.c. 166A 5(b)] SECTION 8.2 9.2 - INSURANCE [SEE G.L.c. 166A 5(c)] (a) The Licensee shall carry insurance throughout the term of this Renewal License and any removal period pursuant to G.L.c. 166A, 5(f) with the Town as a named insured with an insurance company authorized to conduct business in Massachusetts satisfactory to the Issuing Authority indemnifying the Town and the Licensee from and against any and all claims for injury or damage to persons or property, both real and personal, caused by the construction, installation, operation, maintenance or removal of its Cable System. The amount of such insurance against liability for damage to propertyproperty shall be no less than One Million Dollars ($1,000,000) as to any one occurrence. (b) The Licensee shall carry insurance against all claims arising out of the operation of motor vehicles and general tort or contract liability in the amount of One Million Dollars ($1,000,000). Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation. (c) All insurance coverage, including Workers' Compensation, shall be maintained throughout the period of this Renewal License. All expenses incurred for said insurance shall be at the sole expense of the Licensee. Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation. (d) The Licensee shall provide Issuing Authority with certificate(s) of insurance for all policies required herein on an annual basis. SECTION 8.3 9.3 - PERFORMANCE BOND [SEE G.L.c. 166A 5(k)] (a) The Licensee has submitted and shall maintain throughout the duration of the Renewal License and any removal period pursuant to G.L.c. 166A, 5(f) a performance bond running to the Town with a company surety satisfactory to the Issuing Authority to guarantee the following terms: (1) the satisfactory completion of the installation and operation of the Cable System in the time schedule provided herein and otherwise of G.L.c. 166A 5(a), (m) and (n);schedule (2) the satisfactory restoration of pavements, sidewalks and other improvements in accordance with G.L.c. 166A 5(g); (3) the indemnity of the Town in accordance with G.L.c.166A 5(b); and (4) the satisfactory removal or other disposition of the Cable System in accordance with G.L.c. 166A 5(f). (b) During the period of rebuild construction this bond shall be in the amount of One Hundred Thousand Dollars ($100,000). (c) Upon completion of rebuild construction and following a reasonable period of satisfactory operation as determined by the Issuing Authority and the Licensee the amount of the bond shall be reduced to Twenty-five Thousand Dollars ($25,000). (d) The Licensee shall not reduce the amount or cancel said bond, or materially change said bond from the provisions of Section 9.3(a) herein without providing the Issuing Authority with thirty (30) days’ written notice prior to reducing or canceling the bond.

Regulatory Oversight. SECTION 8.1 9.1 - INDEMNIFICATION [SEE G.L.c. 166A 5(b)] SECTION 8.2 9.2 - INSURANCE [SEE G.L.c. 166A 5(c)] (a) The Licensee shall carry insurance throughout the term of this Renewal License and any removal period pursuant to G.L.c. 166A, 5(f) with the Town named as a named an additional insured with an insurance company authorized to conduct business in Massachusetts satisfactory to the Issuing Authority indemnifying the Town and the Licensee from and against any and all claims for injury or damage to persons or property, both real and personal, caused by the construction, installation, operation, maintenance or removal of its Cable System. The amount of such insurance against liability for damage to propertyIssuing (b) The Licensee shall carry insurance against all claims arising out of the operation of motor vehicles and general tort or contract liability in the amount of One Million Dollars ($1,000,000). Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation. (c) All insurance coverage, including Workers' Compensation, shall be maintained throughout the period of this Renewal License. All expenses incurred for said insurance shall be at the sole expense of the Licensee. Policy will contain a provision that the Issuing Authority will receive thirty (30) days’ written notice prior to any cancellation. (d) The Licensee shall provide Issuing Authority with certificate(s) of insurance for all policies required herein on an annual basis. SECTION 8.3 9.3 - PERFORMANCE BOND [SEE G.L.c. 166A 5(k)] (a) The Licensee has submitted and shall maintain throughout the duration of the Renewal License and any removal period pursuant to G.L.c. 166A, 5(f) a Twenty-five Thousand Dollar ($25,000) performance bond running to the Town with a company surety satisfactory to the Issuing Authority to guarantee the following terms: (1) the satisfactory completion of the installation and operation of the Cable System in the time schedule provided herein and otherwise of G.L.c. 166A 5(a), (m) and (n); (2) the satisfactory restoration of pavements, sidewalks and other improvements in accordance with G.L.c. 166A 5(g); (3) the indemnity of the Town in accordance with G.L.c.166A 5(b); and (4) the satisfactory removal or other disposition of the Cable System in accordance with G.L.c. 166A 5(f). (b) During the period of rebuild construction this bond shall be in the amount of One Hundred Thousand Dollars ($100,000). (c) Upon completion of rebuild construction and following a reasonable period of satisfactory operation as determined by the Issuing Authority and the Licensee the amount of the bond shall be reduced to Twenty-five Thousand Dollars ($25,000). (d) The Licensee shall not reduce the amount or cancel said bond, or materially change said bond from the provisions of Section 9.3(a) herein without providing the Issuing Authority with thirty (30) days’ Authority’s prior written notice prior to reducing or canceling the bondconsent.