Insufficient Insurance. If:
(a) the New Facility is completely or substantially destroyed;
(b) the cost to repair, replace or restore the New Facility exceeds the maximum amount of insurance coverage (which for greater certainty is the maximum amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance Requirements]) required under this Agreement for the risk that caused the destruction; and
(c) neither the Authority nor Project Co has agreed to pay the amount by which the cost to repair, replace or restore the New Facility exceeds the Insurance Proceeds and Insurance Receivables with respect to such destruction, at any time on or after 30 days after delivery of the Reinstatement Plan to the Authority, either party may, by notice to the other party, terminate this Agreement, in which case:
(d) if:
(1) the Authority has failed to obtain insurance coverage in accordance with Schedule 5 [Insurance Requirements] and Sections 6.14 and 6.15 do not apply;
(2) the Authority has not deposited an amount equal to the insurance proceeds that would have been payable in the Insurance Account in accordance with Section 6.7(g)(2); and
(3) the amount of such insurance proceeds would have been sufficient to repair, replace or restore the Facility, the Authority will pay compensation to Project Co in accordance with Section 2 of Schedule 9 [Compensation on Termination];
(e) in any other case:
(1) the Authority will pay compensation to Project Co in accordance with Section 5 of Schedule 9 [Compensation on Termination]; and
(2) if the Authority is required to obtain insurance coverage in accordance with Schedule 5 [Insurance Requirements] and the Authority has failed to obtain such insurance and Sections 6.14 and 6.15 do not apply, the Authority will also, but without duplicating payment of any item payable in accordance with Section 5 of Schedule 9 [Compensation on Termination], pay Project Co an amount equal to the insurance proceeds that would have been payable under the relevant policies in respect of such insurance had such insurance been obtained. For the purpose of Section 6.7(b), the reference to the maximum amount of insurance coverage is:
(f) in respect of insurance required to be obtained by Project Co, the full amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance Requirements]; and
(g) in respect of insurance required to be obtained by the Authority,
(1) the full amount of ap...
Insufficient Insurance. In no event will the City be obligated to repair, alter, replace, restore, or rebuild any Improvements, or any portion of them, nor to pay any of the costs or expenses for them. If Tenant’s available insurance proceeds are not sufficient to cover the cost of the restoration as required under this Section, then Tenant is liable to complete the repairs at its own cost and expense, except as provided in (C) above.
Insufficient Insurance. If:
(a) the Facility is completely or substantially destroyed;
(b) the cost to repair, replace or restore the Facility exceeds the maximum amount of insurance coverage (which for greater certainty is the full amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance Requirements]) required under this Agreement for the risk that caused the destruction; and
(c) neither the Authority nor Project Co has agreed to pay the amount by which the cost to repair, replace or restore the Facility exceeds the Insurance Proceeds and Insurance Receivables with respect to such destruction, at any time on or after 30 days after delivery of the Reinstatement Plan to the Authority, either party may, by notice to the other party, terminate this Agreement, in which case the Authority will pay compensation to Project Co in accordance with Section 6 of Schedule 9 [Compensation on Termination].
Insufficient Insurance. If:
(a) all or any part of the School or Schools is completely or substantially destroyed;
(b) the cost to repair, replace or restore the School or Schools exceeds the maximum amount of insurance coverage required under this Agreement for the risk that caused the destruction; and
(c) the Authority has not agreed to pay the amount by which the cost to repair, replace or restore the School or Schools exceeds the maximum amount of insurance coverage required under this Agreement with respect to the risk that caused the destruction, at any time on or after 30 days after delivery of the Reinstatement Plan to the Authority, either party may, by notice to the other party, terminate this Agreement, in which case the Authority will pay compensation to Project Co in accordance with Section 4.1 of Schedule 9 [Compensation on Termination].
Insufficient Insurance. In no event will the City be obligated to repair, alter, replace, restore, or rebuild any Improvements, or any portion of them, nor to pay any of the costs or expenses for them. If Licensee’s available insurance proceeds are not sufficient to cover the cost of the restoration as required under this Section, then Licensee is liable to complete the repairs at its own cost and expense, except as provided in (C) above.
Insufficient Insurance. If:
(a) the Facility is completely or substantially destroyed;
(b) the cost to repair, replace or restore the Facility exceeds the maximum amount of insurance coverage required under this Agreement for the risk that caused the destruction; and
(c) neither BC Hydro nor Project Co has agreed to pay the amount by which the cost to repair, replace or restore the Facility exceeds the Insurance Proceeds and Insurance Receivables with respect to such destruction, at any time on or after 30 Business Days after delivery of the Reinstatement Plan to BC Hydro, either party may, by notice to the other party, terminate this Agreement, in which case:
(d) if:
(1) BC Hydro has failed to obtain insurance coverage in accordance with Schedule 18 [Insurance Requirements] and Sections 6.14 [Risks Becoming Uninsurable] and 6.15 [Consequences of Risks Becoming Uninsurable] do not apply;
(2) BC Hydro has not deposited an amount equal to the insurance proceeds that would have been payable with the Insurance Trustee in accordance with Section 6.7(g)(2) [Insufficient Insurance], and
(3) the amount of such insurance proceeds would have been sufficient to repair, replace or restore the Facility, BC Hydro will pay compensation to Project Co in accordance with Section 1 [Termination for BC Hydro Event of Default or at BC Hydro’s Option] of Schedule 16 [Compensation on Termination]; or
(e) in any other case:
(1) BC Hydro will pay compensation to Project Co in accordance with Section 4 [No Fault Termination] of Schedule 16 [Compensation on Termination]; and
(2) if BC Hydro is required to obtain insurance coverage in accordance with Schedule 18 [Insurance Requirements] and BC Hydro has failed to obtain such insurance and Sections 6.14 [Risks Becoming Uninsurable] and 6.15 [Consequences of Risks Becoming Uninsurable] do not apply, BC Hydro will also, but without duplicating payment of any item payable in accordance with Section 4 [No Fault Termination] of Schedule 16 [Compensation on Termination], pay Project Co an amount equal to the insurance proceeds that would have been payable under the relevant policies in respect of such insurance had such insurance been obtained. For the purpose of this Section 6.7 [Insufficient Insurance], the reference to the maximum amount of insurance coverage is:
(f) in respect of insurance required to be obtained by Project Co, the full amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 18 [Insurance Requiremen...
Insufficient Insurance. Notwithstanding the aforesaid terms of this Section 12, if a Taking or Casualty occurs that is not fully covered by S2 TIC Subsidiaries’ then-existing insurance policy or policies (subject to a loss deductible), then Purchaser shall have the right to terminate this Agreement by delivering notice of such termination to Seller, in which event Escrow Agent shall refund the Deposit to Purchaser, whereupon this Agreement shall terminate and neither party shall have any further rights or obligations hereunder except for the Surviving Obligations, which shall survive such termination.
Insufficient Insurance. 24 6.4 Uncollectible Insurance Receivables .................................................................25 6.5 Application of Insurance Proceeds If No Termination ........................................25 6.6 Application of Insurance Proceeds In Case of Termination ...............................26 6.7 Standards of Repair, Replacement or Restoration ............................................26 6.8 Mitigation ..........................................................................................................26 6.9 Risks Becoming Uninsurable ............................................................................26 6.10 Consequences of Risks Becoming Uninsurable ................................................26 6.11 Subrogation ......................................................................................................27 6.12 Continuing Attempts to Insure Uninsurable Risks..............................................28 6.13 Uninsurable Risks Becoming Insurable .............................................................28 7. CHANGES, MINOR WORKS AND INNOVATION PROPOSALS .................................28 7.1 Changes Required by the Authority ..................................................................28 7.2 Innovation and Value Engineering ....................................................................28 7.3 Minor Works ......................................................................................................29 8. SUPERVENING EVENTS ............................................................................................29
Insufficient Insurance. Except for drainage ponds, in the event the improvements forming a part of the Common Area or any portion thereof shall suffer damage or destruction from any cause or peril which is not insured against, or, if insured against, the insurance proceeds from which shall not be sufficient to pay the cost of repair, restoration or reconstruction, then, unless the Members shall elect within sixty (60) days after such damage or destruction not to make such a repair, restoration or reconstruction the Association may make repairs, restoration or reconstruction of the Common Area so damaged or destroyed at the expense (to the extent not covered by insurance) of all Members. Should any Member refuse or fail after reasonable notice to pay that Member’s share of such cost in excess of available insurance proceeds, the amount so advanced by the Association shall be assessed against the Member and that assessment shall have the same force and effect, and, if not paid, may be enforced in the same manner as herein provided for the nonpayment of assessments.
Insufficient Insurance. If during the Operating Period:
(a) the Facility is completely or substantially destroyed;
(b) the cost to repair, replace or restore the Facility exceeds the maximum amount of insurance coverage (which for greater certainty is the maximum amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance Requirements] required under this Agreement for the risk that caused the destruction;
