Commercial Unavailability of Required Coverages. If, through no fault of TSP, any of the coverages required in this Section 9 (or any of the required terms of such coverages, including policy limits) become unavailable or are available only with commercially unreasonable premiums, the Joint Board will work with TSP to find commercially reasonable alternatives to the required coverages that are acceptable to the Joint Board. TSP shall not be entitled to any increase in any Contract Price Component for increased costs resulting from the unavailability of coverage and the requirement to provide acceptable alternatives. The Joint Board shall be entitled to a reduction in the Contract Price if it agrees to accept alternative policies providing less than equivalent coverage, with the amount to be determined based on evidence of insurance premiums as of the Proposal Date). The Joint Board’s right to a reduction in the Contract Price as set forth in the preceding sentence shall be without regard to the insurance costs expended by the TSP for the less than equivalent coverage or on other insurance required under this Section 9.
Appears in 6 contracts
Samples: Toll Services Agreement, Toll Services Agreement, Toll Services Agreement
