Common use of Insurance and Claims Clause in Contracts

Insurance and Claims. Petroleum Operations Costs shall include premiums paid for insurance required [and approved] in accordance with the Contract. All expenses incurred and paid by the Contractor in respect of any insurance claim, less any costs recovered by the Contractor by means of insurance claims, shall be included and recoverable as Petroleum Operations Costs, provided these expenses are not incurred as a consequence of their being not recoverable under a policy of insurance of the Contractor, in which case they shall not be recoverable.

Insurance and Claims. Petroleum Operations Costs shall will include premiums paid for required and approved insurance required [and approved] in accordance with the Contract. All expenses incurred and paid by the Contractor in respect of for any insurance claim, less minus any costs recovered by the Contractor by means of insurance claims, shall will be included and recoverable as Petroleum Operations Costs, . These Petroleum Operations Costs will be recoverable and deductible as tax expenses provided these expenses are not incurred as a consequence of their being not recoverable under a policy of insurance of the Contractor, in which case they shall not be recoverableContractor has duly withheld withholding tax at source.

Insurance and Claims. Petroleum Operations Costs shall include premiums paid for insurance required [and approved] in accordance with the Contract. All expenses incurred and paid by the Contractor in respect of any insurance claim, less any costs recovered by the Contractor by means of insurance claims, shall be included and recoverable as Petroleum Operations Costs, provided these expenses are not incurred as a consequence of their being not recoverable under a policy of insurance of the Contractor, in which case they shall not be recoverable, provided the Contractor has duly applied the corresponding withholding tax in accordance with the Tax Law.