Delayed Startup Insurance. Delayed startup coverage insuring the ------------------------- Lessor and covering the Lessor's accrued and capitalized interest and Yield for a six month period as a result of loss or damage insured by the builder's risk insurance resulting in a delay in completion of the Building(s) beyond their anticipated date of completion. Such insurance shall (a) have a deductible of not greater than 10 days per occurrence during the Construction Term, (b) have an indemnity period not less than six months, (c) cover loss sustained when access to the Leased Property site is prevented due to an insured peril at premises in the vicinity of the Leased Property site with a sublimit of $27,500, (d) cover loss sustained due to the action of a public authority preventing access to the Leased Property site due to imminent or actual loss or destruction arising from an insured peril at premises in the vicinity of the Leased Property site with a sublimit of $27,500, (e) not contain any form of a coinsurance provision or include a waiver of such provisions, (f) insure loss caused by damage to finished equipment or machinery while awaiting shipment at a supplier's premises, and (g) cover losses relating to real estate tax assessments, insurance expenses, architect's and engineer's fees to repair or replace lost work, legal and accounting fees, construction management fees, testing and permitting expenses, marketing and administration expenses and overhead.
Delayed Startup Insurance. Delayed startup coverage insuring the Companies and OPIC, as their interests may appear, covering the Companies’ fixed costs and debt service as a result of loss or damage insured by Section (B)(10) above resulting in a delay in completion of the Project beyond its anticipated date of completion in an amount not less than eighteen (18) months projected continuing expenses plus debt service of the Borrower. Companies’ fixed costs and debt service as a result of loss or damage insured by Section (B)(10) above resulting in a delay in completion of the Project beyond its anticipated date of completion in an amount not less than eighteen (18) months projected continuing expenses plus debt service of the Borrower. Such insurance shall (a) have a deductible of not greater than 30 days aggregate for all occurrences during the construction period, (b) have an indemnity period not less than eighteen (18) months, (c) include an interim payments clause allowing for the monthly payment of a claim pending final determination of the full claim amount, (d) cover loss sustained when access to the Site is prevented due to an insured peril at premises in the vicinity of the Site, (e) cover loss sustained due to the action of a public authority preventing access to the Site due to imminent or actual loss or destruction arising from an insured peril at premises in the vicinity of the Site, (f) insure loss caused by damage to finished equipment or machinery while awaiting shipment at a supplier’s premises (including all the Contributed Equipment and all assets included in Contributed Amounts), (g) insure loss resulting from caused by damage or mechanical breakdown to construction plant and equipment at the Site not already insured by Section (B)(9) above, (h) not contain any form of a coinsurance provision or include a waiver of such provision and (i) cover loss sustained due to the accidental interruption or failure of supplies of electricity, gas, sewers, water or telecommunication up to the terminal point of the utility supplier with the Site. Coverage shall remain in effect until replaced by business interruption insurance as specified in Section (B)(14) below.
Delayed Startup Insurance. Delayed startup coverage insuring the Lessor and covering the Lessor’s accrued and capitalized interest and Yield for a six month period as a result of loss or damage insured by the builder’s risk insurance resulting in a delay in completion of the Building(s) beyond their anticipated date of completion. Such insurance shall (a) have a deductible of not greater than 10 days per occurrence during the Construction Term, (b) have an indemnity period not less than six months, (c) cover loss sustained when access to the Leased Property site is prevented due to an insured peril at premises in the vicinity of the Leased Property site with a sublimit of $27,500, (d) cover loss sustained due to the action of a public authority preventing access to the Leased Property site due to imminent or actual loss or destruction arising from an insured peril at premises in the vicinity of the Leased Property site with a sublimit of $27,500, and (e) not contain any form of a coinsurance provision or include a waiver of such provisions.
Delayed Startup Insurance. Delayed startup coverage to pay fixed costs incurred, including debt service and any additional cost for replacement power, as a result of loss or damage insured by Section (g) above resulting in a delay in completion of the Project beyond its anticipated date of completion in an amount equal to 12 months' projected continuing expenses of the Project plus debt service of the Partnership and any additional cost incurred for replacement power. Such insurance shall (i) have a deductible of not greater than 30 days per occurrence and 60 days aggregate for all occurrences during the construction period, (ii) include extra expenses (defined as extraordinary expenses incurred after an insured loss to make temporary repairs and expedite the permanent repair of the damaged property in excess of the delayed startup coverage even if such expenses do not reduce the delayed startup loss) in an amount not less than $5,000,000, (iii) an indemnity period not less than 18 months, (iv) not contain any form of a coinsurance provision or include a waiver of such provision, (v) insure delay due to loss or damage covered under a guarantee or warranty caused by an insured peril, (vi) insure delay arising out of damage to finished goods while stored at the manufacturer/supplier's premises prior to shipment to the Site, (vii) insure delay arising out of the prevention of access to the Site in an amount not less than 1 month of debt service and fixed expenses, (viii) insure delay arising out of an insured peril that damages the TVA/Entergy sub-station in an amount not less than 6 months of fixed expenses and debt service and (ix) insure delay arising out of an insured peril that damages the premises of any utility or gas supplier in an amount not less that 2 months of debt service and fixed expenses. Coverage shall remain in effect until replaced by business interruption insurance as specified in Section (B)(2)(c) hereof. The insurance policies required by Sections (B)(1)(g) and (B)(1)(h) shall be amended to waive any rights by the insurer to subrogation against the EPC Contractor, subcontractors, the Partnership, the Senior Secured Parties and their respective officers and employees and include as insureds all sub-contractors and the Partnership.
Delayed Startup Insurance. Delay in startup insurance will be obtained as an extension of the Builder’s Risk Insurance and marine transit policy in an amount equivalent to eighteen (18) months of principal and interest on the debt and equity yield during construction, taxes, insurance, costs of operation and maintenance, labor, utilities, and general and administrative expenses. This extension shall include coverage for expense or loss caused by delays resulting from (1) loss or damage to the Facility during construction and testing, (2) loss or damage to any equipment while in storage away from the Facility Site, (3) loss or damage to equipment during inland or ocean transit and (4) loss or damage to equipment while at manufacturer’s or supplier’s premises caused by fire, lightning, explosion or impact by aircraft, and, with respect to the steam turbine supplier’s locations in Japan, including coverage for accidental damage out of lifting/loading operations. The deductible or waiting period shall not exceed sixty (60) days from the planned completion date. The insurance policies required by Sections 2(g) and (h) above shall be amended to waive any rights by the insurer to subrogate against the EPC Contractor, all sub-contractors, the Company, the Owner Lessor, the Indenture Trustee, the Secured Parties and their respective officers and employees (and such other Persons as may be required by the Operative Documents) and include as insureds all sub-contractors and the Company.
Delayed Startup Insurance. Delayed startup coverage insuring the Construction Agent the Lessor, as their interests may appear, covering all of the Lessor's costs and expenses (including ground rent, all Impositions and all Capitalized Interest and Capitalized Commitment Fees) incurred as a result of loss or damage insured by the builder's risk insurance resulting in a delay in completion of the Improvements beyond their anticipated date of completion. Such insurance shall (A) have a deductible of not greater than fifteen (15) days in the aggregate for all occurrences during the Construction Period with respect to each Construction Property, (B) have an indemnity period of not less than six (6) months, (C) include an interim payments clause allowing for the periodic payment of a claim pending final determination of the full claim amount, (D) cover loss sustained when access to any Construction Property site is prevented due to an insured peril at premises in the vicinity of such Property site, (E) cover loss sustained due to the action of a public authority preventing access to any Construction Property site due to imminent or actual loss or destruction arising from an insured peril at premises in the vicinity of such Property site, (F) not contain any form of a coinsurance provision or include a waiver of such provision and (G) cover loss sustained due to the accidental interruption or failure, caused by an insured peril, of supplies of electricity, gas, sewers, water or telecommunication up to the terminal point of any utility supplier with respect to any Construction Property site.
