Common use of Additional Insurance Coverages Clause in Contracts

Additional Insurance Coverages. If changes in conditions arise during Production and Delivery, which in Completion Guarantor’s judgment, will increase exposures covered by the Completion Documents that may be covered by available insurance, then Producer shall comply with any request made by Completion Guarantor that additional or extended insurance be procured and maintained. Producer shall procure such further insurance for such amounts as Completion Guarantor may reasonably specify within budgetary parameters and shall at the request or with the prior written approval of Completion Guarantor modify, renew, or extend the policies to ensure that full insurance satisfactory to Completion Guarantor is maintained at all times as herein required. The premiums for such modified, renewed, or extended insurance shall first be paid from Budget funds (excluding the Contingency) to the extent possible, next from the Contingency to the extent remaining and not committed or allocated towards payment of any other costs itemized in the Budget at the time such premiums are incurred, and last by Completion Guarantor, in which event any such payments advanced by Completion Guarantor shall constitute Completion Sums. Producer shall inform Completion Guarantor of all further insurance or modifications or extensions obtained as aforesaid and furnish Completion Guarantor on demand a true and complete copy of each further policy of insurance (or certificate evidencing the same) or endorsement to earlier policies and the receipts for premiums paid by Producer. Completion Guarantor shall have the irrevocable right, but not the obligation, to purchase any such additional insurance, which shall be paid for in accordance herewith.

Additional Insurance Coverages. If during Production and Delivery changes in conditions arise during Production and Deliveryarise, which in Completion Guarantor’s judgment, will increase exposures covered by the Completion Documents that may be covered by available insurance, then Producer shall comply with any request made by Completion Guarantor that additional or extended insurance be procured obtained and maintained. Producer shall procure obtain such further insurance for such amounts as Completion Guarantor may reasonably specify within budgetary parameters and shall at the request or with the prior written approval of Completion Guarantor modify, renew, modify or extend the policies in order to ensure that full insurance satisfactory to Completion Guarantor is maintained at all times as herein requireduntil Production and Delivery is completed. The premiums for such modified, renewed, modified or extended insurance shall shall, first be paid from Budget funds (excluding the Contingency) to the extent possible, next from the Contingency to the extent remaining and not committed or allocated towards payment of any other costs itemized in the Budget at the time such premiums are incurred, and last by Completion Guarantor, in which event any such payments advanced by Completion Guarantor shall constitute Completion Sums. Producer shall inform Completion Guarantor of all further insurance or modifications or extensions obtained as aforesaid and furnish Completion Guarantor on demand a true and complete copy of each further policy of insurance (or certificate evidencing the same) or endorsement to earlier policies and the receipts for premiums paid by Producer. Completion Guarantor shall have the irrevocable right, but not the obligation, to purchase any such additional insurance, which shall be paid for in accordance herewith.

Additional Insurance Coverages. If during Production and Delivery changes in conditions arise during Production and Deliveryarise, which in Completion Guarantor’s judgment, will increase exposures covered by the Completion Documents that may be covered by available insurance, then Producer shall comply with any request made by Completion Guarantor that additional or extended insurance be procured obtained and maintained. Producer shall procure obtain such further insurance for such amounts as Completion Guarantor may reasonably specify within budgetary parameters and shall at the request or with the prior written approval of Completion Guarantor modify, renew, modify or extend the policies in order to ensure that full insurance satisfactory to Completion Guarantor is maintained at all times as herein requireduntil the Film is either Abandoned or Delivered. The premiums for such modified, renewed, modified or extended insurance shall shall, first be paid from Budget funds (excluding the Contingency) to the extent possible, next from the Contingency to the extent remaining and not committed or allocated towards payment of any other costs itemized in the Budget at the time such premiums are incurred, and last by Completion Guarantor, in which event any such payments advanced by Completion Guarantor shall constitute Completion Sums. Producer shall inform Completion Guarantor of all further insurance or modifications or extensions obtained as aforesaid and furnish Completion Guarantor on demand a true and complete copy of each further policy of insurance (or certificate evidencing the same) or endorsement to earlier policies and the receipts for premiums paid by Producer. Completion Guarantor shall have the irrevocable right, but not the obligation, to purchase any such additional insurance, which shall be paid for in accordance herewith.