Insurance; Performance Guaranties Clause Samples

Insurance; Performance Guaranties. The Government shall ensure to MCC’s satisfaction that all Program Assets are insured and arrange such other appropriate insurance to cover against risks or liabilities associated with the Program and the transactions contemplated thereby, including by requiring Providers or Covered Providers to obtain adequate insurance and to post adequate performance bonds or other guaranties. The Government or the Accountable Entity shall be named as the payee (or an additional insured, as the case may be) on any such insurance and the beneficiary of any such guaranty or bonds. The Government shall promptly notify MCC of the payment of any proceeds from claims paid under such insurance or guaranty, and ensure that any such proceeds are used to replace or repair any lost, stolen, or damaged Program Assets; provided, however, that, at MCC’s election, such proceeds shall be deposited in an account as designated by or as otherwise directed by MCC.

Insurance; Performance Guaranties. The Government will ensure, to MCC’s satisfaction, that all assets acquired with Grant funding are insured and will arrange such other appropriate insurance to cover against risks or liabilities associated with the Activities and the transactions contemplated thereby, including by requiring Service Providers to obtain adequate insurance and to post adequate performance bonds or other guaranties. The Government or a Permitted Designee, as applicable, will be named as the payee on any such insurance and the beneficiary of any such guaranty or bonds. If not already named as an insured party, the applicable Permitted Designee and MCC (if it so requests) will be named as additional insureds on any such insurance. The Government will ensure that any proceeds from claims paid under such insurance or guaranty will be used to replace or repair any lost, stolen or damaged assets acquired with Grant funding; provided that at MCC’s election, such proceeds will be deposited in an account as designated by or as otherwise directed by MCC.

Insurance; Performance Guaranties. MCA-Côte d’Ivoire agrees, to MCC’s satisfaction, cause all Program Assets to be insured (including, without limitation, through self- insurance) and agrees to arrange such other appropriate insurance to cover against risks or liabilities associated with the operations of the Program, including by requiring Providers to obtain adequate insurance and to post adequate performance bonds or other guaranties. With MCC’s prior consent, MCC Funding may be used to pay the costs of obtaining such insurance. MCA-Côte d’Ivoire (or, as appropriate and with MCC’s prior approval, another entity) agrees to be named as the payee on any such insurance and the beneficiary of any such guaranty or bonds. If not already named as the insured party, MCA-Côte d’Ivoire (and MCC, if it so requests) agrees to be named as additional insureds on any such insurance. The Government agrees to promptly notify MCC of the payment of any proceeds from claims paid under such insurance or guaranty, and agrees to ensure that such proceeds will be used to replace or repair any lost or damaged Program Assets; provided, however, that, at MCC’s election, such proceeds will be deposited in a Permitted Account as designated by MCA-Côte d’Ivoire or as otherwise directed by MCC.

Insurance; Performance Guaranties. The Accountable Entity will ensure to MCC’s satisfaction that any assets acquired with Grant funding are insured and will arrange such other appropriate insurance to cover against risks or liabilities associated with the Program and the transactions contemplated thereby, including by requiring Providers or Covered Providers to obtain adequate insurance and to post adequate performance bonds or other guaranties. The Government or the Accountable Entity will be named as the payee (or an additional insured, as the case may be) on any such insurance and the beneficiary of any such guaranty or bonds. The Government or the Accountable Entity will promptly notify MCC of the payment of any proceeds from claims paid under such insurance or guaranty, and will ensure that any such proceeds will be used to replace or repair any lost, stolen, or damaged assets acquired with Grant funding; provided, however, that, at MCC’s election, such proceeds will be deposited in an account as designated by or as otherwise directed by MCC.

Insurance; Performance Guaranties. The Government will ensure to MCC’s satisfaction that any assets acquired with Grant funding are insured and will arrange such other appropriate insurance to cover against risks or liabilities associated with the Program and the transactions contemplated thereby, including by requiring Providers or Covered Providers to obtain adequate insurance and to post adequate performance bonds or other guaranties. With MCC’s prior consent, the Grant may be used to pay for the costs of obtaining such insurance. The Government or the Accountable Entity will be named as the payee (or an additional insured, as the case may be) on any such insurance and the beneficiary of any such guaranty or bonds. The Government will promptly notify MCC of the payment of any proceeds from claims paid under such insurance or guaranty, and will ensure that any such proceeds will be used to replace or repair any lost, stolen, or damaged assets acquired with Grant funding; provided, however, that, at MCC’s election, such proceeds will be deposited in an account as designated by or as otherwise directed by MCC.

Insurance; Performance Guaranties. MCA-Burkina Faso II shall, to MCC’s satisfaction, cause all Program Assets to be insured (including, without limitation, through self-insurance) and shall arrange such other appropriate insurance to cover against risks or liabilities associated with the operations of the Program, including by requiring Providers to obtain adequate insurance and to post adequate performance bonds or other guaranties. With MCC’s prior consent, MCC Funding may be used to pay the costs of obtaining such insurance. MCA-Burkina Faso II (or, as appropriate and with MCC’s prior approval, another entity) shall be named as the payee on any such insurance and the beneficiary of any such guaranty or bonds. If not already named as the insured party, MCA-Burkina Faso II (and MCC, if it so requests) shall be named as additional insureds on any such insurance. The Government shall promptly notify MCC of the payment of any proceeds from claims paid under such insurance or guaranty, and shall ensure that such proceeds shall be used to replace or repair any lost or damaged Program Assets; provided, however, that, at MCC’s election, such proceeds shall be deposited in a Permitted Account as designated by MCA-Burkina Faso II or as otherwise directed by MCC.

Insurance; Performance Guaranties. MCA-Zambia II shall, to MCC’s satisfaction, cause all Program Assets to be insured (including, without limitation, through self- insurance) and shall arrange such other appropriate insurance to cover against risks or liabilities associated with the operations of the Program, including by requiring Providers to obtain adequate insurance and to post adequate performance bonds or other guaranties. Subject to the terms of the Cost Principles for Government Affiliates, MCC Funding may be used to pay the costs of obtaining such insurance. MCA-Zambia II (or, as appropriate and with MCC’s prior approval, another entity) shall be named as the payee on any such insurance and the beneficiary of any such guaranty or bonds. If not already named as the insured party, MCA-Zambia II (and MCC, if it so requests) shall be named as additional insureds on any such insurance. Zambia shall promptly notify MCC of the payment of any proceeds from claims paid under such insurance or guaranty and shall ensure that such proceeds shall be used to replace or repair any lost or damaged Program Assets; provided, however, that, at MCC’s election, such proceeds shall be deposited in a Permitted Account as designated by MCA-Zambia II or as otherwise directed by MCC.

Insurance; Performance Guaranties. MCA-Nepal will, to MCC’s satisfaction, cause all Program Assets to be insured (including, without limitation, through self-insurance) and will arrange such other appropriate insurance to cover against risks or...