Common use of Insurance Covenants Clause in Contracts

Insurance Covenants. (a) The Generator agrees to put in effect and maintain, from the date of this Agreement to the expiry of the Term, whether through contractors or directly at its own cost and expense, as applicable, insurance with respect to the Facility with reputable insurance companies against such risks and up to such limits as a prudent owner or tenant of premises such as the Facility would procure, including appropriate coverage of construction risks during each Unit’s Refurbishment and, as appropriate, nuclear liability insurance; provided that in no event shall such insurance coverage be less than that required by Laws and Regulations. (b) The Generator shall provide the Counterparty with proof of the insurance required by this Agreement in the form of valid certificates of insurance that confirm the required coverage, on or before the commencement of each Unit’s Refurbishment, and thereafter at the reasonable request of the Counterparty. Upon the request of the Counterparty, a copy of each insurance policy shall be made available to it. (c) If the Generator is subject to the Workplace Safety and Insurance Act (Ontario) (the “WSIA”), it shall submit a valid clearance certificate of WSIA coverage to the Counterparty prior to the Effective Date. In addition, the Generator shall, from time to time at the request of the Counterparty, provide additional WSIA clearance certificates. The Generator agrees to pay when due, all amounts required to be paid by it in respect of a Refurbishment, from time to time from the Effective Date, under the WSIA. The Generator agrees, in accordance with its obligations under the WSIA, to cause each of its contractors and subcontractors to comply with their respective obligations under the WSIA in respect of each Refurbishment. The Counterparty shall have the right, in addition to and not in substitution for any other right it may have pursuant to this Agreement or otherwise at law or in equity, to pay to the Workplace Safety and Insurance Board any amount due pursuant to the WSIA and unpaid by the Generator or its contractors or subcontractors in respect of a Refurbishment and to deduct such amount from any amount due and owing from time to time to the Generator pursuant to this Agreement.

Insurance Covenants. (a) The Generator BALP agrees to put in effect and maintain, from the date of this Agreement to the expiry of the Term, whether through contractors or directly at their or its own cost and expense, as applicable, insurance with respect to the Facility Xxxxx A with reputable insurance companies against such risks and up to such limits as a prudent owner or tenant of premises such as the Facility Xxxxx A would procure, including appropriate coverage of construction risks during each Unit’s Refurbishment Project and, as appropriate, nuclear liability insurance and re-insurance; provided that in no event shall such insurance coverage be less than that required by Laws and Regulations. (b) The Generator BALP shall provide the Counterparty with proof of the insurance required by this Agreement in the form of valid certificates of insurance that confirm the required coverage, on or before the commencement of each Unit’s RefurbishmentRefurbishment Project, and thereafter at the reasonable request of the Counterparty. Upon the request of the Counterparty, a copy of each insurance policy shall be made available to it. (c) If the Generator BALP is subject to the Workplace Safety and Insurance Act (Ontario) (the “WSIA”), it shall submit a valid clearance certificate of WSIA coverage to the Counterparty prior to the Effective Commencement Date. In addition, the Generator BALP shall, from time to time at the request of the Counterparty, provide additional WSIA clearance certificates. The Generator BALP agrees to pay when due, all amounts required to be paid by it in respect of a RefurbishmentRefurbishment Project, from time to time from the Effective Commencement Date, under the WSIA. The Generator BALP agrees, in accordance with its obligations under the WSIA, to cause each of its contractors and subcontractors to comply with their respective obligations under the WSIA in respect of each RefurbishmentRefurbishment Project. The Counterparty shall have the right, in addition to and not in substitution for any other right it may have pursuant to this Agreement or otherwise at law or in equity, to pay to the Workplace Safety and Insurance Board any amount due pursuant to the WSIA and unpaid by the Generator BALP or its contractors or subcontractors in respect of a Refurbishment Project and to deduct such amount from any amount due and owing from time to time to the Generator BALP pursuant to this Agreement.

Insurance Covenants. ‌ (a) The Generator agrees to put in effect and maintain, from the date of this Agreement to the expiry of the Term, whether through contractors or directly at its own cost and expense, as applicable, insurance with respect to the Facility with reputable insurance companies against such risks and up to such limits as a prudent owner or tenant of premises such as the Facility would procure, including appropriate coverage of construction risks during each Unit’s Refurbishment and, as appropriate, nuclear liability insurance; provided that in no event shall such insurance coverage be less than that required by Laws and Regulations. (b) The Generator shall provide the Counterparty with proof of the insurance required by this Agreement in the form of valid certificates of insurance that confirm the required coverage, on or before the commencement of each Unit’s Refurbishment, and thereafter at the reasonable request of the Counterparty. Upon the request of the Counterparty, a copy of each insurance policy shall be made available to it. (c) If the Generator is subject to the Workplace Safety and Insurance Act (Ontario) (the “WSIA”), it shall submit a valid clearance certificate of WSIA coverage to the Counterparty prior to the Effective Date. In addition, the Generator shall, from time to time at the request of the Counterparty, provide additional WSIA clearance certificates. The Generator agrees to pay when due, all amounts required to be paid by it in respect of a Refurbishment, from time to time from the Effective Date, under the WSIA. The Generator agrees, in accordance with its obligations under the WSIA, to cause each of its contractors and subcontractors to comply with their respective obligations under the WSIA in respect of each Refurbishment. The Counterparty shall have the right, in addition to and not in substitution for any other right it may have pursuant to this Agreement or otherwise at law or in equity, to pay to the Workplace Safety and Insurance Board any amount due pursuant to the WSIA and unpaid by the Generator or its contractors or subcontractors in respect of a Refurbishment and to deduct such amount from any amount due and owing from time to time to the Generator pursuant to this Agreement.