Laserfiche WebLink
1 report thereon, shall constitute an undertaking, on behalf of or for the benefit of the MEMBER <br />2 others, to determine or warrant that such property or operations are safe. <br />3 <br />4 3. Duties in the event of an occurrence or claim: <br />5 <br />6 The COVERED PARTY shall have the duty: <br />7 <br />8 a. In the event of an OCCURRENCE that falls within the LIABILITY RISK MANAGEMEN <br />9 REQUIREMENTS, to give written notice as soon as possible to BICEP with reasonab <br />10 obtainable information about the time, place and circumstances thereof, and the names ar <br />11 addresses of the involved COVERED PARTIES and witnesses. <br />12 <br />13 b. If a CLAIM is made or legal action brought against the COVERED PARTY that falls with: <br />14 the LIABILITY RISK MANAGEMENT REQUIREMENTS, to forward to BICEP eves <br />15 demand, notice, summons or other process received by the COVERED PARTY or tI <br />16 COVERED PARTY's representative. <br />17 <br />18 a To cooperate fully with BICEP in the investigation and defense. <br />19 <br />20 d. Upon BICEP's request, to assist in enforcing any right of contribution or indemnity again <br />21 any person or organization that may be liable to the COVERED PARTY because of a <br />22 OCCURRENCE with respect to which coverage is afforded under this MEMORANDUM <br />23 <br />24 e. To attend hearings and trials and assist in securing and giving evidence and obtaining tl <br />25 attendance of witnesses. <br />26 <br />27 f. To comply with B[CEP's LIABILITY RISK MANAGEMENT REQUIREMENTS. <br />28 <br />29 4. No voluntary payments: <br />30 <br />31 The COVERED PARTY shall not, except at its own cost, voluntarily (that is, without BICEP' <br />32 approval) make any payment, assume any obligation or incur any expense, including DEFENS <br />33 COSTS, after it has exhausted its SELF-INSURED RETENTION. <br />34 <br />35 5. Bankruptcy and insolvency: <br />36 <br />37 Bankruptcy or insolvency of the COVERED PARTY shall not relieve BICEP of any of i~ <br />38 obligations hereunder. Nor shall the bankruptcy or insolvency of the COVERED PART' <br />39 increase BICEP's obligations hereunder. <br />40 <br />41 6. Other coverage: <br />42 <br />43 Insurance or other coverage available to the COVERED PARTY for a CLAIM (whether on <br />44 primary, excess or contingent basis) shall be primary to, and shall not contribute with, this <br />45 Memorandum's coverage; except that this provision shall not apply with respect to the excel <br />46 insurance purchased specifically to be in excess of this Memorandum, or to insurance c <br />47 reinsurance which is intended to provide the remainder of the LIMIT OF LIABILITY stated in th <br />48 Declaration. <br />49 <br />s <br />03-OS-06 12 <br />