Common use of Additional Insurances Clause in Contracts

Additional Insurances. (a) For Facility Limits granted for the construction, rehabilitation, consolidation or extension of an immovable asset, the Bank is entitled to request the Borrower at any time, and if the Borrower receives such request, it undertakes to conclude and maintain, bearing all related costs, an insurance policy against all risks in respect of the works, including against non-completion of the construction, if the case, valid until the completion of works. The Borrower undertakes to conclude an insurance policy of the existing construction covering all risks on the following day after completion of the construction.