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a. Workers' Compensation Insurance: In accordance with the provisions of the <br /> Workers' Compensation Act of the State of Texas. <br /> b. Employer's liability insurance: with a limit of at least$500,000; <br /> c. Commercial general liability insurance: including contractual liability, <br /> completed operations and independent operator's liability, with a combined <br /> single limit of at least$1,000,000 for each occurrence; <br /> d. Motor vehicle liability insurance: including owned, hired, leased and non- <br /> owned vehicles, with a combined single limit of at least $1,000,000 per <br /> occurrence. <br /> e. Airport Premises: $1,000,000 for each occurrence;including damage from fire. <br /> f. Hangar Keepers' Liability: $1,000,000 per occurrence. Limit per aircraft <br /> $1,000,000 <br /> g. Employee Dishonesty Insurance: $300,000 limit. The policy must be endorsed <br /> to list the City as sole loss payee. <br /> 9.0.5 The stated limits of insurance required by this Paragraph are minimums only — <br /> they do not limit the Operator's indemnity obligation, and it will be the Operator's <br /> responsibility to determine what limits are adequate. These limits may be basic <br /> policy limits or any combination of basic limits and umbrella limits. The City may <br /> review the insurance coverages and limits annually and make adjustments thereto <br /> as determined by the City. The City's acceptance of Certificates of Insurance that <br /> do not comply with these requirements in any respect does not release the Operator <br /> from compliance with these requirements. <br /> ARTICLE 10 <br /> DEFAULT <br /> 10.0.1 The Operator will be deemed in default of the Agreement upon the occurrence of <br /> any of the following"Events of Default": <br /> a. Default in Covenants.The Operator is in default in the performance of any term, <br /> covenant, or agreement contained in this Agreement and any such default <br /> continues un-remedied by Operator for thirty (30) days after either (a) it <br /> becomes known to the Operator or (b) written notice has been given to the <br /> Operator by the City. <br /> b. Voluntary Insolvency: If the Operator becomes insolvent or ceases to pay its <br /> debts as they mature or voluntarily files a petition seeking reorganization of, or <br /> the appointment of any receiver, trustee, or liquidation for it or a substantial <br /> portion of its assets, or effects a plan or other arrangement with creditors, or is <br /> adjudicated bankrupt, or makes a voluntary assignment for the benefit of its <br /> creditors. <br /> c. Involuntary Insolvency. If an involuntary petition is filed against the Operator <br /> under any bankruptcy, insolvency, or similar law or seeks the reorganization of <br /> Page 28 of 34 <br />