Insurance for Owner Sample Clauses

Insurance for Owner. (a) As part of the Services, the Management Company shall carry and maintain, or cause to be carried and maintained, on behalf of the Owner insurance coverages substantially consistent with the insurance coverages described on Schedule 2.5 attached hereto or such other insurance coverages as are reasonably requested and approved by the Owner, including D&O insurance, in each case, to the extent the cost and expense of such insurance coverage is included in the applicable Operating Budget (or billed by the insurance provider in connection with any audit by the insurance provider in accordance with the terms of any such applicable insurance coverage for which the premium has been paid) and the funds therefor have been provided by the Owner (provided, that if such insurance is carried in the name of the Management Company (or any affiliate of the Management Company other than the Owner) pursuant to the Management Company’s (or such affiliate’s) then existing insurance program, then the Owner shall not be obligated to pay for such insurance until invoiced to the Owner and due by the Owner in accordance with Section 3.4(a)). In addition, if requested by the Owner, the Management Company shall obtain and maintain, or cause to be obtained and maintained, prior to the commencement of construction, Builders All Risk with a replacement cost lost limit and Delay In Start Up insurance for any above ground assets including the compression station to the extent that the cost and expense of such construction insurance coverage is included in the applicable Operating Budget and the funds therefor have been provided by the Owner, and the Parties agree that the cost of any such construction insurance coverage shall be billed directly to, and paid directly by, the Owner. (b) In each of the policies described on Schedule 2.5 or that are otherwise obtained, the Management Company agrees to use commercially reasonable efforts to provide that (i) with respect to all such insurance described on Schedule 2.5, such insurance shall be maintained with insurance companies with the AM Best rating indicated therein and with respect to all other insurance (or if no rating is indicated on Schedule 2.5), shall be maintained with insurance companies rated AX or better by AM Best or as otherwise may be reasonably acceptable to the Owner, (ii) such insurance shall be primary for the benefit of the Owner, (iii) with respect to all such insurance described on Schedule 2.5, the Owner shall be a ...