Common use of Acceptance and compliance Clause in Contracts

Acceptance and compliance. The supply to the Authority of any draft insurance policy or certificate of insurance or other evidence of compliance with this Clause 39 shall not imply acceptance by the Authority (or the Authority's Representative) that the extent of insurance cover is sufficient and its terms are satisfactory. Neither failure to comply nor full compliance with the insurance provisions of this Agreement shall relieve hubco of its liabilities and obligations under this Agreement. Risk Management With effect from the date of this Agreement, the Authority and hubco shall each designate or appoint an insurance and risk manager and notify details of the same to the other party. Such person shall:- be responsible for dealing with all risk management matters on behalf of its appointing or designating party including (without limitation) ensuring compliance by that party with this Clause 39.13.1; advise and report to that party on such matters; and ensure that any report or survey conducted by any insurer of any relevant procedures in relation to the Project is disclosed to the parties. Without prejudice to the provisions of Clause 39.13, the parties shall notify one another, and in xxxxx's case the relevant insurer, of any circumstances which may give rise to a claim of a value equal to or in excess of [ ] pounds (£[ ]) (index‑linked) under the Insurances within [ ] Business Days of becoming aware of the same (or earlier, if so requested by the terms of the relevant insurance policy). If any insurer disputes any such claim, hubco shall provide the Authority with full details of any disputed claim and the parties shall liaise with one another to ensure that the relevant claim is preserved or pursued. Application of Proceeds All insurance proceeds received by hubco under the Insurances referred to in Schedule Part 1 (Definitions and Interpretation) and [ ] of Section 153 of Schedule Part 12 (Insurance Requirements) shall be paid into the Insurance Proceeds Account and shall be applied in accordance with this Agreement and in accordance with the Insurance Proceeds Accounts Agreement. hubco shall apply any proceeds of any policies of Insurance:- in the case of third party legal liability or employers' liability insurance, in satisfaction of the claim, demand, proceeding or liability in respect of which such proceeds are payable; and in the case of any other insurance, so as to ensure the performance by hubco of its obligations under this Agreement, including where necessary the reinstatement, restoration or replacement of the facilities, assets, materials or goods affected by the event giving rise to the insurance claim and consequent payment of proceeds. Where reinstatement monies are required to be released from the Insurance Proceeds Account hubco shall obtain the Authority's consent in accordance with the Insurance Proceeds Account Agreement. The Authority shall give its consent (or confirm that it is withholding its consent) to the release of monies from the Insurance Proceeds Account within one (1) Business Day of a request from hubco (provided that such consent must not be unreasonably withheld). If the proceeds of any insurance claim are insufficient to cover the settlement of such claims, hubco will make good any deficiency forthwith.

Acceptance and compliance. The supply to the Authority of any draft insurance policy or certificate of insurance or other evidence of compliance with this Clause 39 shall not imply acceptance by the Authority (or the Authority's Representative) that the extent of insurance cover is sufficient and its terms are satisfactory. Neither failure to comply nor full compliance with the insurance provisions of this Agreement shall relieve hubco of its liabilities and obligations under this Agreement. Risk Management With effect from the date of this Agreement, the Authority and hubco shall each designate or appoint an insurance and risk manager and notify details of the same to the other party. Such person shall:- be responsible for dealing with all risk management matters on behalf of its appointing or designating party including (without limitation) ensuring compliance by that party with this Clause 39.13.1; advise and report to that party on such matters; and ensure that any report or survey conducted by any insurer of any relevant procedures in relation to the Project is disclosed to the parties. Without prejudice to the provisions of Clause 39.13, the parties shall notify one another, and in xxxxxhubco's case the relevant insurer, of any circumstances which may give rise to a claim of a value equal to or in excess of [ ] pounds (£[ ]) (index‑linked) under the Insurances within [ ] Business Days of becoming aware of the same (or earlier, if so requested by the terms of the relevant insurance policy). If any insurer disputes any such claim, hubco shall provide the Authority with full details of any disputed claim and the parties shall liaise with one another to ensure that the relevant claim is preserved or pursued. Application of Proceeds All insurance proceeds received by hubco under the Insurances referred to in Schedule Part 1 (Definitions and Interpretation) and [ ] of Section 153 155 of Schedule Part 12 (Insurance Requirements) shall be paid into the Insurance Proceeds Account and shall be applied in accordance with this Agreement and in accordance with the Insurance Proceeds Accounts Agreement. hubco shall apply any proceeds of any policies of Insurance:- in the case of third party legal liability or employers' liability insurance, in satisfaction of the claim, demand, proceeding or liability in respect of which such proceeds are payable; and in the case of any other insurance, so as to ensure the performance by hubco of its obligations under this Agreement, including where necessary the reinstatement, restoration or replacement of the facilities, assets, materials or goods affected by the event giving rise to the insurance claim and consequent payment of proceeds. Where reinstatement monies are required to be released from the Insurance Proceeds Account hubco shall obtain the Authority's consent in accordance with the Insurance Proceeds Account Agreementconsent. The Authority shall give its consent (or confirm that it is withholding its consent) to the release of monies from the Insurance Proceeds Account within one (1) Business Day of a request from hubco (provided that such consent must not be unreasonably withheld). If Subject to Clause 36, if the proceeds of any insurance claim are insufficient to cover the settlement of such claims, hubco will make good any deficiency forthwith.

Acceptance and compliance. The supply to the Authority of any draft insurance policy or certificate of insurance or other evidence of compliance with this Clause 39 39. shall not imply acceptance by the Authority (or the Authority's Representative) that the extent of insurance cover is sufficient and its terms are satisfactory. Neither failure to comply nor full compliance with the insurance provisions of this Agreement shall relieve hubco of its liabilities and obligations under this Agreement. Risk Management With effect from the date of this Agreement, the Authority and hubco shall each designate or appoint an insurance and risk manager and notify details of the same to the other party. Such person shall:- be responsible for dealing with all risk management matters on behalf of its appointing or designating party including (without limitation) ensuring compliance by that party with this Clause 39.13.1; advise and report to that party on such matters; and ensure that any report or survey conducted by any insurer of any relevant procedures in relation to the Project is disclosed to the parties. Without prejudice to the provisions of Clause 39.13, the parties shall notify one another, and in xxxxx's case the relevant insurer, of any circumstances which may give rise to a claim of a value equal to or in excess of [ ] pounds (£[ ]) (index‑linked) under the Insurances within [ ] Business Days of becoming aware of the same (or earlier, if so requested by the terms of the relevant insurance policy). If any insurer disputes any such claim, hubco shall provide the Authority with full details of any disputed claim and the parties shall liaise with one another to ensure that the relevant claim is preserved or pursued. Application of Proceeds All insurance proceeds received by hubco under the Insurances referred to in Schedule Part 1 (Definitions and Interpretation) and [ ] of Section 153 155 of Schedule Part 12 (Insurance Requirements) shall be paid into the Insurance Proceeds Account and shall be applied in accordance with this Agreement and in accordance with the Insurance Proceeds Accounts Agreement. hubco shall apply any proceeds of any policies of Insurance:- in the case of third party legal liability or employers' liability insurance, in satisfaction of the claim, demand, proceeding or liability in respect of which such proceeds are payable; and in the case of any other insurance, so as to ensure the performance by hubco of its obligations under this Agreement, including where necessary the reinstatement, restoration or replacement of the facilities, assets, materials or goods affected by the event giving rise to the insurance claim and consequent payment of proceeds. Where reinstatement monies are required to be released from the Insurance Proceeds Account hubco shall obtain the Authority's consent in accordance with the Insurance Proceeds Account Agreementconsent. The Authority shall give its consent (or confirm that it is withholding its consent) to the release of monies from the Insurance Proceeds Account within one (1) Business Day of a request from hubco (provided that such consent must not be unreasonably withheld). If Subject to Clause 36, if the proceeds of any insurance claim are insufficient to cover the settlement of such claims, hubco will make good any deficiency forthwith. Reinstatement [Without prejudice to Clause 36. (Indemnities) hubco shall be responsible for repairing, rectifying and/or reinstating all damage caused to the Facilities by hubco or a hubco Party in the conduct of the Project Operations after the Actual Completion Date.]56 Where a claim is made or proceeds of insurance are received or are receivable under any Physical Damage Policy in respect of a single event (or a series of related events) (the "Relevant Incident") in an amount in excess of £[ ] ([indexed]): hubco shall deliver to the Authority as soon as practicable (and in any event within twenty (20) Business Days after the making of the claim) a plan prepared by xxxxx for the carrying out of the works necessary (the "Reinstatement Works") to repair, reinstate or replace (the "Reinstatement Outline") the relevant Works which is or are the subject of the relevant claim or claims in accordance with Clause 39.21 (Works carried out). The Reinstatement Outline shall set out: the identity of the person proposed to effect the Reinstatement Works, which (if not hubco or a hubco Party) shall be subject to the prior written approval of the Authority; and the proposed terms and timetable or, if not then established, the reasonably anticipated terms and timetable upon which the Reinstatement Works are to be effected (including the date by which the Reinstatement Works will be completed), the final terms of which shall be subject to the prior written approval of the Authority (such approval not to be unreasonably withheld or delayed); the Authority shall within ten (10) Business Days of receipt of the Reinstatement Outline notify hubco in writing that: it is satisfied that the Reinstatement Outline will enable hubco to comply with its obligations to carry out the Reinstatement Works within a reasonable timetable, and (if not hubco or a hubco Party) that the identity of any person (set out in the Reinstatement Outline) that may be appointed to effect the Reinstatement Works is approved; the identity of any person (set out in the Reinstatement Outline) that may be appointed to effect the Reinstatement Works (if not hubco or a hubco Party) is not approved together with its reasons for such non-approval in sufficient detail to enable hubco to understand the nature and extent of such non-approval and to assess whether the Authority’s approval under Clause (b) has been unreasonably withheld; it does not approve the Reinstatement Outline together with its reasons for such non-approval, in sufficient detail so as to enable hubco to understand the nature and extent of such non-approval and to assess whether the Authority’s approval under Clause (b) has been unreasonably withheld; or if the Authority does not make one of the above responses within the period specified in Clause 39.20.2, it shall be deemed to have approved the Reinstatement Outline, save where the Authority has reasonably requested any further information from hubco, in which case the time limit outlined in Clause 39.20.2 will be deemed to commence upon receipt of such information by the Authority; if the Authority gives notice of non-approval in accordance with Clauses (b) or (c), hubco may amend and re-submit the Reinstatement Outline (the "Amended Reinstatement Outline") to the Authority for its reconsideration and the Authority shall give its approval or non-approval within five (5) Business Days of the submission of the Amended Reinstatement Outline to the Authority. If the Authority does not approve the Amended Reinstatement Outline, it shall provide reasons for such non-approval in sufficient detail so as to enable hubco to understand the nature and extent of such non-approval and to assess whether the Authority’s approval has been unreasonably withheld; if the Amended Reinstatement Outline or a person proposed to carry out the Reinstatement Works is not approved by the Authority in accordance with Clause 39.20.3, hubco may submit the Amended Reinstatement Outline to the Dispute Resolution Procedure in order for it to be determined whether the Authority’s approval under Clause 39.20.3 was unreasonably withheld; the Reinstatement Outline or the Amended Reinstatement Outline (as the case may be) as approved by the Authority pursuant to this Clause 39.20 or as determined pursuant to the Dispute Resolution Procedure shall become the Reinstatement Plan; hubco shall effect the Reinstatement Works in accordance with the Reinstatement Plan, and: xxxxx shall enter into contractual arrangements to effect the Reinstatement Works with the person(s) identified in the Reinstatement Plan; the insurance proceeds received under any Physical Damage Policy in respect of the Relevant Incident (together with any interest accrued) may be applied by xxxxx as required to enable it to make payments in accordance with the terms of the contractual arrangements entered into to effect the Reinstatement Works and to meet any other reasonable costs and expenses of hubco for the sole purposes of financing the Reinstatement Works; the Authority agrees and undertakes that, subject to compliance by hubco with its obligations under this Clause 39.20, and provided that hubco procures that the Reinstatement Works are carried out and completed in accordance with this Clause 39.20, the Authority shall not exercise any right which it might otherwise have to terminate this Agreement by virtue of the event which gave rise to the claim under the Physical Damages Policy; the Authority undertakes to use all reasonable endeavours to assist hubco in the carrying out of the Reinstatement Plan; and subject to Clause 36. (Indemnities), hubco shall be solely responsible for the payment of any deficiency between the insurance proceeds and the cost of carrying out the Reinstatement Works. Works carried out Where insurance proceeds are to be used in accordance with this Agreement to repair, reinstate or replace the whole or any part of the Works or Facility, hubco shall carry out the work in accordance with the Authority’s Construction Requirements so that on completion of the work the provisions of this Agreement are complied with. Contractor's Insurance hubco shall procure that the Contractor at its own cost takes out, or procures the taking out of, professional indemnity insurance with reputable insurers carrying on business in the European Union with a limit of indemnity of not less than £[ ],000,000 ([ ] million pounds) [on an each and every claim basis][in the annual aggregate] with at least one annual reinstatement, in relation to the Works, provided always that: such insurance shall be in place from the commencement of the Works until no less than twelve (12) years after the Actual Completion Date or, if earlier, after the date of termination of the Construction Contract; the insurance premiums in respect of the insurance shall, as between the Authority and hubco at all times be the responsibility of hubco; if such insurance is not available to the Contractor (and/or design and build contractors engaged in projects of a similar scope, size, nature and complexity as the Contractor) at commercially reasonable rates and terms (excluding any increase in premiums attributable to the actions, omissions, errors or defaults of the Contractor), the Contractor, hubco and the Authority will meet and the Contractor will outline the steps it intends to take to manage such risks. If the steps proposed by the Contractor are not acceptable to the Authority (acting reasonably), the Contractor, hubco and the Authority shall agree an alternative method of managing such risk. hubco will procure that the Contractor will, upon request, provide the Authority with reasonable evidence that the policy referred to in Clause 39.22 is in full force and effect in accordance with the requirements of Clause 39.22.

Acceptance and compliance. The supply to the Authority of any draft insurance policy or certificate of insurance or other evidence of compliance with this Clause 39 shall not imply acceptance by the Authority (or the Authority's Representative) that the extent of insurance cover is sufficient and its terms are satisfactory. Neither failure to comply nor full compliance with the insurance provisions of this Agreement shall relieve hubco of its liabilities and obligations under this Agreement. Risk Management With effect from the date of this Agreement, the Authority and hubco shall each designate or appoint an insurance and risk manager and notify details of the same to the other party. Such person shall:- be responsible for dealing with all risk management matters on behalf of its appointing or designating party including (without limitation) ensuring compliance by that party with this Clause 39.13.1; advise and report to that party on such matters; and ensure that any report or survey conducted by any insurer of any relevant procedures in relation to the Project is disclosed to the parties. Without prejudice to the provisions of Clause 39.13, the parties shall notify one another, and in xxxxx's case the relevant insurer, of any circumstances which may give rise to a claim of a value equal to or in excess of [ ] pounds (£[ ]) (index‑linked) under the Insurances within [ ] Business Days of becoming aware of the same (or earlier, if so requested by the terms of the relevant insurance policy). If any insurer disputes any such claim, hubco shall provide the Authority with full details of any disputed claim and the parties shall liaise with one another to ensure that the relevant claim is preserved or pursued. Application of Proceeds All insurance proceeds received by hubco under the Insurances referred to in Schedule Part 1 (Definitions and Interpretation) and [ ] of Section 153 of Schedule Part 12 (Insurance Requirements) shall be paid into the Insurance Proceeds Account and shall be applied in accordance with this Agreement and in accordance with the Insurance Proceeds Accounts Agreement. hubco shall apply any proceeds of any policies of Insurance:- in the case of third party legal liability or employers' liability insurance, in satisfaction of the claim, demand, proceeding or liability in respect of which such proceeds are payable; and in the case of any other insurance, so as to ensure the performance by hubco of its obligations under this Agreement, including where necessary the reinstatement, restoration or replacement of the facilities, assets, materials or goods affected by the event giving rise to the insurance claim and consequent payment of proceeds. Where reinstatement monies are required to be released from the Insurance Proceeds Account hubco shall obtain the Authority's consent in accordance with the Insurance Proceeds Account Agreementconsent. The Authority shall give its consent (or confirm that it is withholding its consent) to the release of monies from the Insurance Proceeds Account within one (1) Business Day of a request from hubco (provided that such consent must not be unreasonably withheld). If Subject to Clause 36, if the proceeds of any insurance claim are insufficient to cover the settlement of such claims, hubco will make good any deficiency forthwith.