Common use of Insurance and Claims Clause in Contracts

Insurance and Claims. Petroleum Operations Expenditures shall ---------------------- include premiums paid for insurance normally required to be carried for the operations relating to CONTRACTOR's obligations conducted under the Contract and shall also include expenditures incurred and paid by CONTRACTOR in settlement of any and all losses, claims, damages, judgments, and other expenses, including monies relating to CONTRACTOR's obligations under the Contract. Any sums CONTRACTOR receives for settlements from insurance carried for the benefit of the Petroleum Operations shall be deducted from Petroleum Operations Expenditures for the year any such settlement is received. ANNEX "D" LETTER OF PERFORMANCE GUARANTY BY PARENT FOR CONTRACT AREA F, THE REPUBLIC OF EQUATORIAL GUINEA

Insurance and Claims. Petroleum Operations Expenditures shall ---------------------- include premiums paid for insurance normally required to be carried for the operations relating to CONTRACTOR's obligations conducted under the Contract and shall also include expenditures incurred and paid by CONTRACTOR in settlement of any and all losses, claims, damages, judgments, and other expenses, including monies relating to CONTRACTOR's obligations under the Contract. Any sums CONTRACTOR receives for settlements from insurance carried for the benefit of the Petroleum Operations shall be deducted from Petroleum Operations Expenditures for the year any such settlement is received. ANNEX "D" LETTER OF PERFORMANCE GUARANTY BY PARENT FOR CONTRACT AREA FG, THE REPUBLIC OF EQUATORIAL GUINEA

Insurance and Claims. Petroleum Operations Expenditures shall ---------------------- include premiums paid for insurance normally required to be carried for the operations relating to CONTRACTOR's obligations conducted under the Contract and shall also include expenditures incurred and paid by CONTRACTOR in settlement of any and all losses, claims, damages, judgments, and other expenses, including monies relating to CONTRACTOR's obligations under the Contract. Any sums CONTRACTOR receives for settlements from insurance carried for the benefit of the Petroleum Operations shall be deducted from Petroleum Operations Expenditures for the year any such settlement is received. ANNEX "D" LETTER OF PERFORMANCE GUARANTY BY PARENT FOR CONTRACT AREA FG, THE REPUBLIC OF EQUATORIAL GUINEA

Insurance and Claims. Petroleum Operations Expenditures shall ---------------------- include premiums paid for insurance normally required to be carried for the operations relating to CONTRACTOR's obligations conducted under the Contract and shall also include expenditures incurred and paid by CONTRACTOR in settlement of any and all losses, claims, damages, judgments, and other expenses, including monies relating to CONTRACTOR's ’s obligations under the Contract. Any sums CONTRACTOR receives for settlements from insurance carried for the benefit of the Petroleum Operations shall be deducted from Petroleum Operations Expenditures for the year any such settlement is received. ANNEX "D" LETTER OF PERFORMANCE GUARANTY BY PARENT FOR CONTRACT AREA FG, THE REPUBLIC OF EQUATORIAL GUINEA