Common use of Customer’s Insurance Clause in Contracts

Customer’s Insurance. ‌ Customer shall provide and maintain “all-risk” property insurance covering the buildings on which the System is located during all periods (construction and operation) that Provider is the beneficial owner of the System, and naming Provider or its assignee as the loss payee. The System shall be insured for not less than its Termination Value. All such policies shall be with financially sound and reputable insurance companies that have an (i) A.M. Best rating of A+ and a financial strength category of “XII” or higher, (ii) a Standard & Poor’s financial strength rating of A+ or higher, or (iii) are otherwise reasonably satisfactory to the Provider or its assignee; and such policies shall be on terms that are reasonably satisfactory to the Provider or its assignee. Within thirty (30) days after execution of this Agreement and upon Provider’s request annually thereafter, Customer shall deliver to Provider certificates of insurance evidencing such coverage, which shall specify that Provider shall be given at least thirty (30) days’ prior written notice (10 days’ notice for cancellation due to nonpayment of premiums) by the applicable insurer in the event of any material modification, cancellation or termination of coverage. Such insurance shall be primary coverage without right of contribution from any insurance of Provider. Notwithstanding the foregoing, Customer shall be entitled to self- insure all of its insurance requirements under this Agreement.

Customer’s Insurance. ‌ Customer shall provide and maintain “all-risk” property insurance covering the buildings on which the System is located during all periods (construction and operation) that Provider is the beneficial owner of the System, and naming Provider or its assignee as the loss payee. The System shall be insured for not less than its Termination Value. All such policies shall be with financially sound and reputable insurance companies that have an (i) A.M. Best rating of A+ and a financial strength category of “XII” or higher, (ii) a Standard & Poor’s financial strength rating of A+ or higher, or (iii) are otherwise reasonably satisfactory to the Provider or its assignee; and such policies shall be on terms that are reasonably satisfactory to the Provider or its assignee. Within thirty (30) days after execution of this Agreement and upon Provider’s request annually thereafter, Customer shall deliver to Provider certificates of insurance evidencing such coverage, which shall specify that Provider shall be given at least thirty (30) days’ prior written notice (10 days’ notice for cancellation due to nonpayment of premiums) by the applicable insurer in the event of any material modification, cancellation or termination of coverage. Such insurance shall be primary coverage without right of contribution from any insurance of Provider. Notwithstanding the foregoing, Customer shall be entitled to self- insure all of its insurance requirements under this Agreement.