Insurance during Operation Period Sample Clauses

Insurance during Operation Period. Not later than 60 days prior to the anticipated Completion of the Project, the Licensee shall obtain and maintain at no cost to Licensor during the Operations Period in respect of the Project and its operations, such insurance as may be required under any of the Applicable Laws and such insurance as the Licensee may reasonably consider necessary or desirable in accordance with Good Industry Practice. The Licensee shall procure that in each insurance policy, the Licensor shall be a co-insured. For the sake of brevity, the aggregate of the maximum sums insured under the insurance taken out by the Licensee pursuant to this Article 26 are herein referred to as the “Insurance Cover”.

Insurance during Operation Period. Prior to the Handover Date, the Operator shall obtain and maintain at no cost to the Authority in respect of the Project/MPU and its operations such insurance as may be required under the Applicable Laws and such insurance as the Operator may reasonably consider necessary or desirable in accordance with Good Industry Practice or may be desired as feasible by the Authority. The Operator shall procure that in each insurance policy, the Authority shall be a co-insured and that the insurer shall pay the proceeds of insurance into the Operator’s Account. For the sake of brevity, the aggregate of the maximum sums insured under the insurance taken out by the Operator pursuant to this Article 12 are herein referred to as the “Insurance Cover”.

Insurance during Operation Period. As from the Scheduled Commercial Operation Date or at the latest after expiry of the insurances required under Article 34.2, the Concessionaire shall obtain and maintain at its own cost and risk during the Operation Period in respect of the Port Facility and Services and its operations such insurance as may be required under any of the Financing Documents, Applicable Law and such insurance as may be necessary or desirable in accordance with Good Industry Practice. The level of insurance to be obtained and maintained shall be agreed with Grantor prior to the Scheduled Commercial Operation Date, being provided that if no Agreement is found in this respect, then either Party may refer the matter to the Independent Expert for determination in accordance with Article 52.

Insurance during Operation Period. As from the Scheduled Commercial Operation Date or at the latest after expiry of the insurances required under Article 34.2, the Concessionaire shall obtain and maintain at its own cost and risk during the Operation Period in respect of the Port Facility and Services and its operations such insurance as may be required under any of the Financing Documents, Applicable Law and such insurance as may be necessary or desirable in accordance with Good Industry Practice. The level of insurance to be obtained and maintained shall be agreed with Grantor prior to the Scheduled Commercial Operation Date. The insurances which the Concessionaire will be required to obtain and maintain include: (a) property all risks including machinery breakdown covering loss, damage or destruction of the Port Facility and Services, at replacement value; (b) commercial general liability insurance (including terminal operator liability) including property damage and bodily injury to personnel of the Grantor and others who may enter the Port Facility except for the employees of the Concessionaire covered under (d); (c) to the extent possible, Concessionaire's general liability arising out of this Agreement; (d) workmen’s compensation insurance; and (f) any other insurance that may be necessary to protect the Concessionaire and its employees, including all Force Majeure Events that are insurable and not otherwise covered in paragraphs (a) to (e).