Common use of Advisory Obligations Clause in Contracts

Advisory Obligations. to notify you promptly of any default in the payment of any premium for any of the Insurances; to notify you if any insurer cancels or gives notification of cancellation of any of the Insurances, at least 30 (thirty) days before such cancellation is to take effect or as soon as reasonably practicable in the event that notification of cancellation takes place less than 30 (thirty) days before it is to take effect; to notify you of any act or omission, breach or default of which we have knowledge which in our reasonable opinion may either invalidate or render unenforceable in whole or in part any of the Insurances or which may otherwise materially impact on the extent of cover provided under the Insurances; and to advise hubco of its duties of disclosure to insurers and to specifically advise upon: the facts, circumstances and beliefs that should generally be disclosed to insurers; and the obligation not to misrepresent any facts, matters or beliefs to insurers. to disclose to insurers all information made available to us from any source and any fact, change of circumstances or occurrence made known to us from any source which in our reasonable opinion is material to the risks insured against under the Insurances and which properly should be disclosed to insurers as soon as practicable after we become aware of such information, fact, change of circumstance or occurrence whether prior to inception or renewal or otherwise; and to treat as confidential all information so marked or otherwise stated to be confidential and supplied to us by or on behalf of hubco or the Authority and not to disclose such information, without the prior written consent of the supplier, to any third party other than those persons who, in our reasonable opinion have a need to have access to such information from time to time, and for the purpose of disclosure to the insurers or their agents in respect of the Insurances in discharge of our obligation set out at Clause 4.3.1 of this letter. Our obligations of confidentiality shall not conflict with our duties owed to hubco and shall not apply to disclosure required by an order of a court of competent jurisdiction, or pursuant to any applicable law, governmental or regulatory authority having the force of law or to information which is in the public domain. to hold copies of all documents relating to or evidencing the Insurances, including but without prejudice to the generality of the foregoing, insurance slips, contracts, policies, endorsements and copies of all documents evidencing renewal of the Insurances, payment of premiums and presentation and receipt of claims; to supply to the Authority and/or its insurance advisers (or the Authority’s or its insurance advisers’ authorised representatives) promptly on written request copies of the documents set out in Clause 4.4.1 of this letter, and to the extent available, to make available to such persons promptly upon the Authority’s request the originals of such documents; to administer the payment of premiums due pursuant to the Insurances such that, in so far as we hold appropriate funds, all such premiums shall be paid to insurers in accordance with the terms of the Insurances; to administer the payment of claims from insurers in respect of the Insurances (the “Insurance Claims”) including: negotiating settlement of Insurance Claims presented in respect of the Insurances; collating and presenting all information required by insurers in relation to Insurance Claims presented in respect of the Insurances, and insofar as it is relevant and practicable, liaising with and reporting to each Authority throughout the settlement, payment and administration of such Insurance Claims. to advise the Authority promptly upon receipt of notice of any material changes which we are instructed to make in the terms of the Insurances and which, if effected, in our opinion as Insurance Brokers would result in any material reduction in limits or coverage or in any increase in deductibles, exclusions or exceptions; to advise the Authority in advance of any change to the terms of, or any lapse, non-renewal and/or cancellation of any policy maintained in respect of the Insurances; and to use our reasonable endeavours to have endorsed on each and every policy evidencing the Insurances (when the same is issued) endorsements substantially in the form set out in Section 3 to Schedule Part 12 of the Agreement. to prepare following request, at the expense of xxxxx, a Joint Insurance Cost Report on behalf of both hubco and the Authority in accordance with the Insurance Review Procedure as set forth in Section 4 of Schedule Part 12 of the Agreement. We shall ensure that the information in the Joint Insurance Cost Report is fairly represented, based on the information available to us.118 Our obligations at Clause 4 of this letter to notify or inform you shall be discharged by providing the requisite information in hard copy to: [ ] Authority We shall supply further letters substantially in this form on renewal of each of the Insurances and shall supply copies of such letters to those parties identified to us by the Authority for such purposes. This letter shall be governed by and construed in accordance with the law of Scotland. Yours faithfully -------------------- For and on behalf of [xxxxx’s broker]119

Advisory Obligations. to notify you promptly of any default in the payment of any premium for any of the InsurancesRequired Insurance; to notify you if any insurer cancels or gives notification of cancellation of any of the InsurancesRequired Insurance, at least 30 (thirty) days before such cancellation is to take effect or as soon as reasonably practicable in the event that notification of cancellation takes place less than 30 (thirty) days before it is to take effect; to notify you of any act or omission, breach or default of which we have knowledge which in our reasonable opinion may either invalidate or render unenforceable in whole or in part any of the Insurances Required Insurance or which may otherwise materially impact on the extent of cover provided under the InsurancesRequired Insurance; and to advise hubco PPP Co. of its duties of disclosure to insurers and to specifically advise upon: the facts, circumstances and beliefs that should generally be disclosed to insurers; and the obligation not to misrepresent any facts, matters or beliefs to insurers. to disclose to insurers all any information made available to us from any source and any fact, change of circumstances or occurrence made known to us from any source which in our reasonable opinion is material to the risks Risks insured against under the Insurances Required Insurance and which properly should be disclosed to insurers as soon as practicable after we become aware award of such information, fact, change of circumstance or occurrence whether prior to inception or renewal or otherwise; and to treat as confidential all information so marked or otherwise stated to be confidential and supplied to us by or on behalf of hubco PPP Co. or the Authority and not to disclose such information, without the prior written consent of the supplier, to any third party other than those persons who, in our reasonable opinion have a need to have access to such information from time to time, and for the purpose of disclosure to the insurers or their agents in respect of the Insurances Required Insurance in discharge of our obligation set out at Clause 4.3.1 4.3(a) of this letter. Our obligations of confidentiality shall will not conflict with our duties owed to hubco PPP Co. and shall will not apply to disclosure required by an order of a court of competent jurisdiction, or pursuant to any applicable law, governmental or regulatory authority having the force of law or to information which is in the public domain. to hold copies of all documents relating to or evidencing the InsurancesRequired Insurance, including but without prejudice to the generality of the foregoing, insurance slips, contracts, policies, endorsements and copies of all documents evidencing renewal of the InsurancesRequired Insurance, payment of premiums and presentation and receipt of claims; to supply to the Authority and/or its insurance advisers (or the Authority’s or its insurance advisers’ authorised representatives) promptly on written request copies of the documents set out in Clause 4.4.1 4.4(a) of this letter, and to the extent available, to make available to such persons promptly upon the Authority’s request the originals of such documents; to administer the payment of premiums due pursuant to the Insurances Required Insurance such that, in so far as we hold appropriate funds, all such premiums shall will be paid to insurers in accordance with the terms of the InsurancesRequired Insurance; to administer the payment of claims from insurers in respect of the Insurances (the “Insurance Claims”) including: ; negotiating settlement of Insurance Claims presented in respect of the InsurancesRequired Insurance; collating and presenting all information required by insurers in relation to Insurance Claims presented in respect of the Insurancesrequired Insurance, and insofar as it is relevant and practicable, liaising with and reporting to each Authority throughout the settlement, payment and administration of such Insurance Claims. to advise the Authority promptly upon receipt of notice of any material changes which we are instructed to make in the terms of the Insurances Required Insurance and which, if effected, in our opinion as Insurance Brokers would result in any material reduction in limits or coverage or in any increase in deductibles, exclusions or exceptions; to advise the Authority in advance of any change to of the terms of, or any lapse, non-renewal and/or cancellation of any policy maintained in respect of the InsurancesRequired Insurance; and to use our reasonable endeavours to have endorsed on each and every policy evidencing the Insurances Required Insurance (when the same is issued) endorsements substantially in the form set out in Section Part 3 to Schedule Part 12 23 of the Project Agreement. to prepare following request, at the expense of xxxxxPPP Co., a Joint Insurance Cost Report on behalf of both hubco PPP Co. and the Authority in accordance with the Insurance Review Procedure as set forth in Section 4 of Schedule Part 12 Clause 45.7 of the AgreementProject Agreement (Insurance Premium Risk Sharing. We shall will ensure that the information in the Joint Insurance Cost Report is fairly represented, based on the information available to us.118 us. Our obligations at Clause 4 of this letter to notify or inform you shall will be discharged by providing the requisite information in hard copy to: [ ] Authority We shall will supply further letters substantially in this form on renewal of each of the Insurances Required Insurance and shall will supply copies of such letters to those parties identified to us by the Authority for such purposes. This letter shall be governed by and construed in accordance with the law of Scotland. Yours faithfully -------------------- ______________ For and on behalf of [xxxxxPPP Co.’s broker]119Insurance Broker 1 This approach assumes a fixed term for the Project Agreement. Another way of dealing with this is to have a maximum length but have the Project Agreement terminate when a specified level of return has been achieved or some other agreed event has occurred. This is not common, but may be appropriate, for example, where a significant proportion of project revenues are generated from third parties by way of user charges and the Authority has a legitimate interest in capturing surplus revenues for the public benefit.

Advisory Obligations. to notify you promptly of any default in the payment of any premium for any of the Insurances; to notify you if any insurer cancels or gives notification of cancellation of any of the Insurances, at least 30 (thirty) days before such cancellation is to take effect or as soon as reasonably practicable in the event that notification of cancellation takes place less than 30 (thirty) days before it is to take effect; to notify you of any act or omission, breach or default of which we have knowledge which in our reasonable opinion may either invalidate or render unenforceable in whole or in part any of the Insurances or which may otherwise materially impact on the extent of cover provided under the Insurances; and to advise hubco Project Co of its duties of disclosure to insurers and to specifically advise upon: the facts, circumstances and beliefs that should generally be disclosed to insurers; and the obligation not to misrepresent any facts, matters or beliefs to insurers. to disclose to insurers all information made available to us from any source and any fact, change of circumstances or occurrence made known to us from any source which in our reasonable opinion is material to the risks insured against under the Insurances and which properly should be disclosed to insurers as soon as practicable after we become aware of such information, fact, change of circumstance or occurrence whether prior to inception or renewal or otherwise; and to treat as confidential all information so marked or otherwise stated to be confidential and supplied to us by or on behalf of hubco Project Co or the Authority and not to disclose such information, without the prior written consent of the supplier, to any third party other than those persons who, in our reasonable opinion have a need to have access to such information from time to time, and for the purpose of disclosure to the insurers or their agents in respect of the Insurances in discharge of our obligation set out at Clause 4.3.1 249.3.1 of this letter. Our obligations of confidentiality shall not conflict with our duties owed to hubco Project Co and shall not apply to disclosure required by an order of a court of competent jurisdiction, or pursuant to any applicable law, governmental or regulatory authority having the force of law or to information which is in the public domain. to hold copies of all documents relating to or evidencing the Insurances, including but without prejudice to the generality of the foregoing, insurance slips, contracts, policies, endorsements and copies of all documents evidencing renewal of the Insurances, payment of premiums and presentation and receipt of claims; to supply to the Authority and/or its insurance advisers (or the Authority’s or its insurance advisers’ authorised representatives) promptly on written request copies of the documents set out in Clause 4.4.1 249.4.1 of this letter, and to the extent available, to make available to such persons promptly upon the Authority’s request the originals of such documents; to administer the payment of premiums due pursuant to the Insurances such that, in so far as we hold appropriate funds, all such premiums shall be paid to insurers in accordance with the terms of the Insurances; to administer the payment of claims from insurers in respect of the Insurances (the “Insurance Claims”) including: negotiating settlement of Insurance Claims presented in respect of the Insurances; collating and presenting all information required by insurers in relation to Insurance Claims presented in respect of the Insurances, and insofar as it is relevant and practicable, liaising with and reporting to each Authority throughout the settlement, payment and administration of such Insurance Claims. to advise the Authority promptly upon receipt of notice of any material changes which we are instructed to make in the terms of the Insurances and which, if effected, in our opinion as Insurance Brokers would result in any material reduction in limits or coverage or in any increase in deductibles, exclusions or exceptions; to advise the Authority in advance of any change to the terms of, or any lapse, non-renewal and/or cancellation of any policy maintained in respect of the Insurances; and to use our reasonable endeavours to have endorsed on each and every policy evidencing the Insurances (when the same is issued) endorsements substantially in the form set out in Section 3 (Endorsements) to Schedule Part 12 15 (Required Insurances) of the Agreement. ; and to prepare following requestprovide, at prior to the expense Commencement of xxxxxthe Operational Insurances and prior to each renewal of any of them, a Joint Insurance Cost Report on behalf statement containing the information required to satisfy the requirement of both hubco and the Authority in accordance with the Insurance Review Procedure as set forth in Section 4 of Schedule Part 12 15 (Insurance Requirements) to the Project Agreement; and our opinion, supported by appropriate evidence, of the Agreement. We shall ensure that generally prevailing market for the information in relevant Insurance and of any other circumstances relevant to the Joint application of paragraph 3.2 of Section 6 (Pass Through Costs) of Schedule Part 14 (Payment Mechanism) to the Project Agreement to the premiums for the relevant Insurance Cost Report is fairly represented, based specifying the impact of each factor on the information available to us.118 premium quotations obtained. Our obligations at Clause 4 249 of this letter to notify or inform you shall be discharged by providing the requisite information in hard copy to: [ [Authority] Authority We shall supply further letters substantially in this form on renewal of each of the Insurances and shall supply copies of such letters to those parties identified to us by the Authority for such purposes. This letter shall be governed by and construed in accordance with the law of Scotland. Yours faithfully -------------------- For and on behalf of [xxxxxProject Co’s broker]119broker]

Advisory Obligations. to notify you promptly of any default in the payment of any premium for any of the Insurances; to notify you if any insurer cancels or gives notification of cancellation of any of the Insurances, at least 30 (thirty) days before such cancellation is to take effect or as soon as reasonably practicable in the event that notification of cancellation takes place less than 30 (thirty) days before it is to take effect; to notify you of any act or omission, breach or default of which we have knowledge which in our reasonable opinion may either invalidate or render unenforceable in whole or in part any of the Insurances or which may otherwise materially impact on the extent of cover provided under the Insurances; and to advise hubco DBFM Co of its duties of disclosure to insurers and to specifically advise upon: the facts, circumstances and beliefs that should generally be disclosed to insurers; and the obligation not to misrepresent any facts, matters or beliefs to insurers. to disclose to insurers all information made available to us from any source and any fact, change of circumstances or occurrence made known to us from any source which in our reasonable opinion is material to the risks insured against under the Insurances and which properly should be disclosed to insurers as soon as practicable after we become aware of such information, fact, change of circumstance or occurrence whether prior to inception or renewal or otherwise; and to treat as confidential all information so marked or otherwise stated to be confidential and supplied to us by or on behalf of hubco DBFM Co or the Authority and not to disclose such information, without the prior written consent of the supplier, to any third party other than those persons who, in our reasonable opinion have a need to have access to such information from time to time, and for the purpose of disclosure to the insurers or their agents in respect of the Insurances in discharge of our obligation set out at Clause 4.3.1 of this letter. Our obligations of confidentiality shall not conflict with our duties owed to hubco DBFM Co and shall not apply to disclosure required by an order of a court of competent jurisdiction, or pursuant to any applicable law, governmental or regulatory authority having the force of law or to information which is in the public domain. to hold copies of all documents relating to or evidencing the Insurances, including but without prejudice to the generality of the foregoing, insurance slips, contracts, policies, endorsements and copies of all documents evidencing renewal of the Insurances, payment of premiums and presentation and receipt of claims; to supply to the Authority and/or its insurance advisers (or the Authority’s or its insurance advisers’ authorised representatives) promptly on written request copies of the documents set out in Clause 4.4.1 of this letter, and to the extent available, to make available to such persons promptly upon the Authority’s request the originals of such documents; to administer the payment of premiums due pursuant to the Insurances such that, in so far as we hold appropriate funds, all such premiums shall be paid to insurers in accordance with the terms of the Insurances; to administer the payment of claims from insurers in respect of the Insurances (the “Insurance Claims”) including: negotiating settlement of Insurance Claims presented in respect of the Insurances; collating and presenting all information required by insurers in relation to Insurance Claims presented in respect of the Insurances, and insofar as it is relevant and practicable, liaising with and reporting to each Authority throughout the settlement, payment and administration of such Insurance Claims. to advise the Authority promptly upon receipt of notice of any material changes which we are instructed to make in the terms of the Insurances and which, if effected, in our opinion as Insurance Brokers would result in any material reduction in limits or coverage or in any increase in deductibles, exclusions or exceptions; to advise the Authority in advance of any change to the terms of, or any lapse, non-renewal and/or cancellation of any policy maintained in respect of the Insurances; and to use our reasonable endeavours to have endorsed on each and every policy evidencing the Insurances (when the same is issued) endorsements substantially in the form set out in Section 3 (Endorsements) to Schedule Part 12 15 (Required Insurances) of the Agreement. ; and to prepare following requestprovide, at prior to the expense Commencement of xxxxxthe Operational Insurances and prior to each renewal of any of them, a Joint Insurance Cost Report on behalf statement containing the information required to satisfy the requirement of both hubco and the Authority in accordance with the Insurance Review Procedure as set forth in Section 4 of Schedule Part 12 15 (Insurance Requirements) to the Project Agreement; and our opinion, supported by appropriate evidence, of the Agreement. We shall ensure that generally prevailing market for the information in relevant Insurance and of any other circumstances relevant to the Joint application of paragraph 3.2 of Section 6 (Pass Through Costs) of Schedule Part 14 (Payment Mechanism) to the Project Agreement to the premiums for the relevant Insurance Cost Report is fairly represented, based specifying the impact of each factor on the information available to us.118 premium quotations obtained. Our obligations at Clause 4 of this letter to notify or inform you shall be discharged by providing the requisite information in hard copy to: [ [Authority] Authority We shall supply further letters substantially in this form on renewal of each of the Insurances and shall supply copies of such letters to those parties identified to us by the Authority for such purposes. This letter shall be governed by and construed in accordance with the law of Scotland. Yours faithfully -------------------- For and on behalf of [xxxxxDBFM Co’s broker]119broker]

Advisory Obligations. to notify you promptly of any default in the payment of any premium for any of the Insurances; to notify you if any insurer cancels or gives notification of cancellation of any of the Insurances, at least 30 (thirty) days before such cancellation is to take effect or as soon as reasonably practicable in the event that notification of cancellation takes place less than 30 (thirty) days before it is to take effect; to notify you of any act or omission, breach or default of which we have knowledge which in our reasonable opinion may either invalidate or render unenforceable in whole or in part any of the Insurances or which may otherwise materially impact on the extent of cover provided under the Insurances; and to advise Sub-hubco of its duties of disclosure to insurers and to specifically advise upon: the facts, circumstances and beliefs that should generally be disclosed to insurers; and the obligation not to misrepresent any facts, matters or beliefs to insurers. to disclose to insurers all information made available to us from any source and any fact, change of circumstances or occurrence made known to us from any source which in our reasonable opinion is material to the risks insured against under the Insurances and which properly should be disclosed to insurers as soon as practicable after we become aware of such information, fact, change of circumstance or occurrence whether prior to inception or renewal or otherwise; and to treat as confidential all information so marked or otherwise stated to be confidential and supplied to us by or on behalf of Sub-hubco or the Authority and not to disclose such information, without the prior written consent of the supplier, to any third party other than those persons who, in our reasonable opinion have a need to have access to such information from time to time, and for the purpose of disclosure to the insurers or their agents in respect of the Insurances in discharge of our obligation set out at Clause 4.3.1 of this letter. Our obligations of confidentiality shall not conflict with our duties owed to Sub-hubco and shall not apply to disclosure required by an order of a court of competent jurisdiction, or pursuant to any applicable law, governmental or regulatory authority having the force of law or to information which is in the public domain. to hold copies of all documents relating to or evidencing the Insurances, including but without prejudice to the generality of the foregoing, insurance slips, contracts, policies, endorsements and copies of all documents evidencing renewal of the Insurances, payment of premiums and presentation and receipt of claims; to supply to the Authority and/or its insurance advisers (or the Authority’s or its insurance advisers’ authorised representatives) promptly on written request copies of the documents set out in Clause 4.4.1 of this letter, and to the extent available, to make available to such persons promptly upon the Authority’s request the originals of such documents; to administer the payment of premiums due pursuant to the Insurances such that, in so far as we hold appropriate funds, all such premiums shall be paid to insurers in accordance with the terms of the Insurances; to administer the payment of claims from insurers in respect of the Insurances (the “Insurance Claims”) including: negotiating settlement of Insurance Claims presented in respect of the Insurances; collating and presenting all information required by insurers in relation to Insurance Claims presented in respect of the Insurances, and insofar as it is relevant and practicable, liaising with and reporting to each Authority throughout the settlement, payment and administration of such Insurance Claims. to advise the Authority promptly upon receipt of notice of any material changes which we are instructed to make in the terms of the Insurances and which, if effected, in our opinion as Insurance Brokers would result in any material reduction in limits or coverage or in any increase in deductibles, exclusions or exceptions; to advise the Authority in advance of any change to the terms of, or any lapse, non-renewal and/or cancellation of any policy maintained in respect of the Insurances; and to use our reasonable endeavours to have endorsed on each and every policy evidencing the Insurances (when the same is issued) endorsements substantially in the form set out in Section 3 (Endorsements) to Schedule Part 12 15 (Required Insurances) of the Agreement. ; and to prepare following requestprovide, at prior to the expense Commencement of xxxxxthe Operational Insurances and prior to each renewal of any of them, a Joint Insurance Cost Report on behalf statement containing the information required to satisfy the requirement of both hubco and the Authority in accordance with the Insurance Review Procedure as set forth in Section 4 of Schedule Part 12 15 (Insurance Requirements) to the Project Agreement; and our opinion, supported by appropriate evidence, of the Agreement. We shall ensure that generally prevailing market for the information in relevant Insurance and of any other circumstances relevant to the Joint application of paragraph 3.2 of Section 6 (Pass Through Costs) of Schedule Part 14 (Payment Mechanism) to the Project Agreement to the premiums for the relevant Insurance Cost Report is fairly represented, based specifying the impact of each factor on the information available to us.118 premium quotations obtained. Our obligations at Clause 4 of this letter to notify or inform you shall be discharged by providing the requisite information in hard copy to: [ [Authority] Authority We shall supply further letters substantially in this form on renewal of each of the Insurances and shall supply copies of such letters to those parties identified to us by the Authority for such purposes. This letter shall be governed by and construed in accordance with the law of Scotland. Yours faithfully -------------------- For and on behalf of [xxxxxSub-hubco’s broker]119broker]

Advisory Obligations. to notify you promptly of any default in the payment of any premium for any of the Insurances; to notify you if any insurer cancels or gives notification of cancellation of any of the Insurances, at least 30 (thirty) days before such cancellation is to take effect or as soon as reasonably practicable in the event that notification of cancellation takes place less than 30 (thirty) days before it is to take effect; to notify you of any act or omission, breach or default of which we have knowledge which in our reasonable opinion may either invalidate or render unenforceable in whole or in part any of the Insurances or which may otherwise materially impact on the extent of cover provided under the Insurances; and to advise hubco Project Co of its duties of disclosure to insurers and to specifically advise upon: the facts, circumstances and beliefs that should generally be disclosed to insurers; and the obligation not to misrepresent any facts, matters or beliefs to insurers. to disclose to insurers all information made available to us from any source and any fact, change of circumstances or occurrence made known to us from any source which in our reasonable opinion is material to the risks insured against under the Insurances and which properly should be disclosed to insurers as soon as practicable after we become aware of such information, fact, change of circumstance or occurrence whether prior to inception or renewal or otherwise; and to treat as confidential all information so marked or otherwise stated to be confidential and supplied to us by or on behalf of hubco Project Co or the Authority and not to disclose such information, without the prior written consent of the supplier, to any third party other than those persons who, in our reasonable opinion have a need to have access to such information from time to time, and for the purpose of disclosure to the insurers or their agents in respect of the Insurances in discharge of our obligation set out at Clause 4.3.1 of this letter. Our obligations of confidentiality shall not conflict with our duties owed to hubco Project Co and shall not apply to disclosure required by an order of a court of competent jurisdiction, or pursuant to any applicable law, governmental or regulatory authority having the force of law or to information which is in the public domain. to hold copies of all documents relating to or evidencing the Insurances, including but without prejudice to the generality of the foregoing, insurance slips, contracts, policies, endorsements and copies of all documents evidencing renewal of the Insurances, payment of premiums and presentation and receipt of claims; to supply to the Authority and/or its insurance advisers (or the Authority’s or its insurance advisers’ authorised representatives) promptly on written request copies of the documents set out in Clause 4.4.1 of this letter, and to the extent available, to make available to such persons promptly upon the Authority’s request the originals of such documents; to administer the payment of premiums due pursuant to the Insurances such that, in so far as we hold appropriate funds, all such premiums shall be paid to insurers in accordance with the terms of the Insurances; to administer the payment of claims from insurers in respect of the Insurances (the “Insurance Claims”) including: negotiating settlement of Insurance Claims presented in respect of the Insurances; collating and presenting all information required by insurers in relation to Insurance Claims presented in respect of the Insurances, and insofar as it is relevant and practicable, liaising with and reporting to each Authority throughout the settlement, payment and administration of such Insurance Claims. to advise the Authority promptly upon receipt of notice of any material changes which we are instructed to make in the terms of the Insurances and which, if effected, in our opinion as Insurance Brokers would result in any material reduction in limits or coverage or in any increase in deductibles, exclusions or exceptions; to advise the Authority in advance of any change to the terms of, or any lapse, non-renewal and/or cancellation of any policy maintained in respect of the Insurances; and to use our reasonable endeavours to have endorsed on each and every policy evidencing the Insurances (when the same is issued) endorsements substantially in the form set out in Section 3 (Endorsements) to Schedule Part 12 15 (Required Insurances) of the Agreement. ; and to prepare following requestprovide, at prior to the expense Commencement of xxxxxthe Operational Insurances and prior to each renewal of any of them, a Joint Insurance Cost Report on behalf statement containing the information required to satisfy the requirement of both hubco and the Authority in accordance with the Insurance Review Procedure as set forth in Section 4 of Schedule Part 12 15 (Insurance Requirements) to the Project Agreement; and our opinion, supported by appropriate evidence, of the Agreement. We shall ensure that generally prevailing market for the information in relevant Insurance and of any other circumstances relevant to the Joint application of paragraph 3.2 of Section 6 (Pass Through Costs) of Schedule Part 14 (Payment Mechanism) to the Project Agreement to the premiums for the relevant Insurance Cost Report is fairly represented, based specifying the impact of each factor on the information available to us.118 premium quotations obtained. Our obligations at Clause 4 of this letter to notify or inform you shall be discharged by providing the requisite information in hard copy to: [ [Authority] Authority We shall supply further letters substantially in this form on renewal of each of the Insurances and shall supply copies of such letters to those parties identified to us by the Authority for such purposes. This letter shall be governed by and construed in accordance with the law of Scotland. Yours faithfully -------------------- For and on behalf of [xxxxxProject Co’s broker]119broker]