Common use of Damage due to accident Clause in Contracts

Damage due to accident. 10.8.1 Any damage(s) arising to a Bus due to an accident of the Bus shall be the liability of the Operator. The Operator shall ensure repair of such damaged/ accidental Bus, etc. to the satisfaction of the Authority. Any insurance proceeds received from the Insurance company against the affected Bus (es), shall be deposited by the Authority in the Escrow Account within {7 (seven) days} of receipt of such proceeds from the insurance company (to the extent received) towards cost of such repair or renovation or restoration or replacement of the Buses, upon submission of due proof by the Operator that such Bus (es) has/have been repaired or restored by it. Any shortfall between the actual cost incurred by the Operator towards repair and restoration of the damaged Bus and the insurance proceeds received shall be borne by the Operator. In the event, the Authority deliberately delays in depositing of the insurance proceeds upon receipt of the same from the insurance company beyond the said period of 7 (seven) days, the Authority shall be liable to pay the amount of proceeds along with interest of Bank Rate plus 2% (two per cent) per annum till the same are deposited in the Escrow Account of the Operator; 10.8.2 The Operator clearly understands and agrees that the Authority shall not be responsible for any consequences/ liability arising out of any civil or criminal proceedings instituted by the affected parties as a result of such accident of the Bus and the Operator shall keep the Authority fully indemnified in this regard; 10.8.3 The Operator shall notify about the accident within 1 (one) hour of its occurrence and in the event, such accident involves any fatality, the Operator shall remain bound to intimate within 5 (five) minutes, the relevant authorities and persons/ officials of the Authority and if permitted by the concerned authorities make adequate arrangements for effective towing away/ removing of the affected Bus from the spot. Where any persons involved in the accident have suffered injuries, the Operator shall co-ordinate with the relevant medical authorities, police, etc. to ensure timely medical help and treatment. The Authority shall provide support to the Operator on best efforts basis; 10.8.4 In the event of an accident of a Bus leading to its complete destruction, such that the Bus cannot be repaired and operated in normal circumstances, and is rendered inoperable, the Operator will be required to replace the damaged Bus with another new Bus of such make and model acceptable to the Authority. The Authority will credit any insurance proceeds received by it towards damage of the Bus in question into the Escrow Account with an instruction to the Escrow Bank to deposit the same in the Operator's account, for contributing to the purchase of the new Bus, subject to such proceeds not exceeding the cost of the new Bus. The Authority will bear all the remaining cost of replacement of the Bus to the extent not covered by the insurance proceeds. Such replaced Bus will be owned by the Authority and shall form part of the Buses contracted under the present Contract and shall be operated and maintained under similar contract conditions as the other Buses during the remaining Operation Period. The period of Contract for such replaced Bus shall be concurrent with the balance period of the Bus it has replaced.

Damage due to accident. 10.8.1 Any damage(s) arising to a Bus due to an accident of the Bus shall be the liability of the Operator. The Operator shall ensure repair of such damaged/ accidental Bus, etc. to the satisfaction of the Authority. [Any insurance proceeds received from the Insurance company against the affected Bus (es), shall be deposited by the Authority in the Escrow Account within {7 (seven) days} of receipt of such proceeds from the insurance company (to the extent received) towards cost of such repair or renovation or restoration or replacement of the Buses, upon submission of due proof by the Operator that such Bus (esBus(es) has/have been repaired or restored by it. Any shortfall between the actual cost incurred by the Operator towards repair and restoration of the damaged Bus and the insurance proceeds received shall be borne by the Operator. In the event, the Authority deliberately delays in depositing of the insurance proceeds upon receipt of the same from the insurance company beyond the said period of 7 (seven) days, the Authority shall be liable to pay the amount of proceeds along with interest of Bank Rate plus 2% (two per cent) per annum till the same are deposited in the Escrow Account of the Operator]38; 34[Drafting Note: Replace the word “Operator;” with “Authority”, if the Buses are being handed over by the Authority] 35[Drafting Note: Replace the word “Operator” with “Authority” , if the Buses are being handed over by the Authority] 36[Drafting Note: Replace the word “Operator” with “Authority”, if the Buses are being handed over by the Authority] 37[Drafting Note: Change Clause number 10.3 to 10.4, if the Buses are being handed over by the Authority] 38[Drafting Note: Delete this part of the provision where Buses are being procured by the Operator] 10.8.2 The Operator clearly understands and agrees that the Authority shall not be responsible for any consequences/ liability arising out of any civil or criminal proceedings instituted by the affected parties as a result of such accident of the Bus and the Operator shall keep the Authority fully indemnified in this regard; 10.8.3 The Operator shall notify about the accident within 1 (one) hour of its occurrence and in the event, such accident involves any fatality, the Operator shall remain bound to intimate within 5 (five) minutes, the relevant authorities and persons/ officials of the Authority and if permitted by the concerned authorities make adequate arrangements for effective towing away/ removing of the affected Bus from the spot. Where any persons involved in the accident have suffered injuries, the Operator shall co-ordinate with the relevant medical authorities, police, etc. to ensure timely medical help and treatment. The Authority shall provide support to the Operator on best efforts basis; 10.8.4 In the event of an accident of a Bus leading to its complete destruction, such that the Bus cannot be repaired and operated in normal circumstances, and is rendered inoperable, the Operator will be required to replace the damaged Bus with another new Bus of such make and model acceptable to the Authority. [The Authority will credit any insurance proceeds received by it towards damage of the Bus in question into the Escrow Account with an instruction to the Escrow Bank to deposit the same in the Operator's account, for contributing to the purchase of the new Bus, subject to such proceeds not exceeding the cost of the new Bus. The Authority will bear all the remaining cost of replacement of the Bus to the extent not covered by the insurance proceeds. Such replaced Bus will be owned by the Authority and shall form part of the Buses contracted under the present Contract and shall be operated and maintained under similar contract conditions as the other Buses during the remaining Operation PeriodPeriod.]39. The period of Contract for such replaced Bus shall be concurrent with the balance period of the Bus it has replaced.replaced 39[Drafting Note: Delete this part of the clause where Xxxxx are being procured and handed over by the Authority to the Operator]

Damage due to accident. 10.8.1 Any damage(s) arising to a the Bus due to an accident of the Bus shall be the liability of the Operator. The Operator shall ensure repair of such damaged/ accidental Bus, etc. Bus to the satisfaction of the Authority. [Any insurance proceeds received from the Insurance company against the affected Bus (es), shall be deposited by the Authority in the Escrow Account within {7 (seven) days} of receipt of such proceeds from the insurance company (to the extent received) towards cost of such repair or renovation or restoration or replacement of the Buses, upon submission of due proof by the Operator that such Bus (es) has/have been repaired or restored by it. Any shortfall between the actual cost incurred by the Operator towards repair and restoration of the damaged Bus and the insurance proceeds received shall be borne by the Operator. In the event, the Authority deliberately delays in depositing of the insurance proceeds upon receipt of the same from the insurance company beyond the said period of 7 (seven) days, the Authority shall be liable to pay the amount of proceeds along with interest of Bank Rate plus 2% (two per cent) per annum till the same are deposited in released to the Escrow Account Operator]36; 32[Drafting Note: Replace the word “Operator” with “Authority”, if the Buses are being handed over by the Authority] 33[Drafting Note: Replace the word “Authority with “Operator””, if the Buses are being handed over by the Authority] 34[Drafting Note: Replace the word "Operator" with “Authority”, if the Buses are being procured and handed over by the Authority] 35[Drafting Note: Change Clause number 10.3 to 10.4, if the Buses are being procured and handed over by the Authority] 36 [Drafting Note: Delete this part of the provision where Buses are being procured by the Operator;] 10.8.2 The Operator clearly understands and agrees that the Authority shall not be responsible for any consequences/ liability arising out of any civil or criminal proceedings instituted by the affected parties as a result of such accident of the Bus and the Operator shall keep the Authority fully indemnified in this regard; 10.8.3 The Operator shall notify about the such accident within 1 (one) hour of its occurrence and in the event, such accident involves any fatality, the Operator shall remain bound to intimate within 5 (five) minutes, minutes the relevant authorities and persons/ officials of the Authority and if permitted by the concerned authorities make adequate arrangements for effective towing away/ removing of the affected Bus from the spot. Where any persons involved in the accident have suffered injuries, the Operator shall co-ordinate with the relevant medical authorities, police, etc. to ensure timely medical help and treatment. The Authority shall provide support to the Operator on best efforts basis; 10.8.4 In the event of an accident of a Bus leading to its complete destruction, such that the Bus cannot be repaired and operated in normal circumstances, and is rendered inoperable, the Operator will be required to replace the damaged Bus with another new Bus of such make and model acceptable to the Authority. [The Authority will credit any insurance proceeds received by it towards damage of the Bus in question into the Escrow Account with an instruction to the Escrow Bank to deposit the same in the Operator's account, for contributing to the purchase of the new Bus, subject to such proceeds not exceeding the cost of the new Bus. The Authority Operator will bear all the remaining cost of replacement of the Bus to the extent not covered by the insurance proceeds. Such replaced Bus will be owned by the Authority and shall form part of the Buses contracted under the present Contract and shall be operated and maintained under similar contract conditions as the other Buses during the remaining Operation PeriodPeriod.]37. The period of Contract for such replaced Bus shall be concurrent with the balance period of the Bus it has replaced.. 37[Drafting Note: Delete this part of the clause where Buses are being procured by the Operator]

Damage due to accident. 10.8.1 Any damage(s) arising to a the Bus due to an accident of the Bus shall be the liability of the Operator. The Operator shall ensure repair of such damaged/ accidental Bus, etc. Bus to the satisfaction of the Authority. [Any insurance proceeds received from the Insurance company against the affected Bus (es), shall be deposited by the Authority in the Escrow Account within {7 (seven) days} of receipt of such proceeds from the insurance company (to the extent received) towards cost of such repair or renovation or restoration or replacement of the Buses, upon submission of due proof by the Operator that such Bus (es) has/have been repaired or restored by it. Any shortfall between the actual cost incurred by the Operator towards repair and restoration of the damaged Bus and the insurance proceeds received shall be borne by the Operator. In the event, the Authority deliberately delays in depositing of the insurance proceeds upon receipt of the same from the insurance company beyond the said period of 7 (seven) days, the Authority shall be liable to pay the amount of proceeds along with interest of Bank Rate plus 2% (two per cent) per annum till the same are deposited in released to the Escrow Account Operator]36; 32[Drafting Note: Replace the word "Operator" with "Authority', if the Buses are being handed over by the Authority] 34[Drafting Note: Replace the word "Operator" with “Authority”, if the Buses are being procured and handed over by the Authority] 35[Drafting Note: Change Clause number 10.3 to 10.4, if the Buses are being procured and handed over by the Authority] 36 [Drafting Note: Delete this part of the provision where Buses are being procured by the Operator;] 10.8.2 The Operator clearly understands and agrees that the Authority shall not be responsible for any consequences/ consequences/liability arising out of any civil or criminal proceedings instituted by the affected parties as a result of such accident of the Bus and the Operator shall keep the Authority fully indemnified in this regard; 10.8.3 The Operator shall notify about the such accident within 1 (one) hour of its occurrence and in the event, such accident involves any fatality, the Operator shall remain bound to intimate within 5 (five) minutes, the relevant authorities and persons/ officials of the Authority and if permitted by the concerned authorities make adequate arrangements for effective towing away/ removing of the affected Bus from the spot. Where any persons involved in the accident have suffered injuries, the Operator shall co-ordinate with the relevant medical authorities, police, etc. to ensure timely medical help and treatment. The Authority shall provide support to the Operator on best efforts basis;. 10.8.4 In the event of an accident of a Bus leading to its complete destruction, such that the Bus cannot be repaired and operated in normal circumstances, and is rendered inoperable, the Operator will be required to replace the damaged Bus with another new Bus of such make and model acceptable to the Authority. [The Authority will credit any insurance proceeds received by it towards damage of the Bus in question into the Escrow Account with an instruction to the Escrow Bank to deposit the same in the Operator's account, for contributing to the purchase of the new Bus, subject to such proceeds not exceeding the cost of the new Bus. The Authority Operator will bear all the remaining cost of replacement of the Bus to the extent not covered by the insurance proceeds. Such replaced Bus will be owned by the Authority and shall form part of the Buses contracted under the present Contract and shall be operated and maintained under similar contract conditions as the other Buses during the remaining Operation PeriodPeriod.]37. The period of Contract for such replaced Bus shall be concurrent with the balance period of the Bus it has replaced.. 37 [Drafting Note: Delete this part of the clause where Buses are being procured by the Operator]