Extraordinary Premium Decrease. (a) The Contractor must notify the Contracting Authority if an Extraordinary Premium Decrease takes place during the Operational Phase. The Contractor shall pay the Contracting Authority compensation commencing on the date on which the Extraordinary Premium Decrease occurs. This compensation is equal to 85% of the difference between the premium that the Contractor paid immediately prior to the Extraordinary Premium decrease and the premium that the Contractor paid after the Extraordinary Premium decrease occurred. (b) If the Contractor demonstrates that an Extraordinary Premium decrease no longer exists then the Contractor is no longer obliged to pay compensation as referred to in paragraph (a) to the Contracting Authority. (c) The provisions of this Article 14.4 are correspondingly applicable to insurance not mentioned in Schedule 11 (Insurance) which the Contractor purchases under Article 13.1 to replace the insurance referred to in Schedule 11 (Insurance).
Appears in 2 contracts
Samples: DBFM Agreement, DBFM Agreement
