Common use of Insurance during Concession Period Clause in Contracts

Insurance during Concession Period. 22.1. 1The Concessionaire shall effect and maintain at its own cost, during the Construction Period and the Operation Period, such insurances for such adequate sums as may be required under the Applicable Laws, and such insurances (including building insurance) as may be necessary or prudent in accordance with Good Industry Practice. The Concessionaire shall also effect and maintain such insurances as may be necessary for mitigating the risks that may devolve on Maha-Metro as a consequence of any act or omission of the Concessionaire during the Construction Period.

Insurance during Concession Period. 22.1. 1The 22.1.1 The Concessionaire shall effect and maintain at its own cost, during the Construction Period and the Operation Period, such insurances for such adequate sums as may be required under the Applicable Laws, and such insurances (including building insurance) as may be necessary or prudent in accordance with Good Industry Practice. The Concessionaire shall also effect and maintain such insurances as may be necessary for mitigating the risks that may devolve on Maha-Metro as a consequence of any act or omission of the Concessionaire during the Construction Period.