Common use of Insurance Reporting Clause in Contracts

Insurance Reporting. (a) The Borrower shall provide to the Intercreditor Agent: (i) evidence of Minimum Insurance set forth on, and subject to the provisions of, the Schedule of Minimum Insurance: (A) by the later of (1) the Upsize Closing Date and (2) in respect of any Material Construction Contract, the date of issuance of the “Notice to Proceed” or “FNTP” pursuant to such Material Construction Contract; (B) prior to the transfer of care, custody and control in respect of each of LPS1, LPS2, LPS3, LPS4, LPS5 and LPS6 in accordance with the Material Construction Contracts; and (C) upon the renewal or replacement of any insurance policy required under the Schedule of Minimum Insurance; (ii) notice as soon as reasonably practicable of: (A) any failure to pay any premium on Minimum Insurance (and in any case, by the date falling ten days after it is due); (B) any actual or reasonably anticipated material reduction in Minimum Insurance coverage (and in any case, within five Business Days after becoming aware of such reduction); (C) any failure to maintain Minimum Insurance coverage (including any cancellation, termination or suspension (for any reason) of any Minimum Insurance) (and in any case, within five Business Days after becoming aware of such cancellation, termination or suspension); (D) any single loss or event likely to give rise to a property damage or liability claim against an insurer for an amount in excess of $150 million (and in any case, within five Business Days after becoming aware of such loss or event); (E) without prejudice to its other obligations under this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of the Common Security and Account Agreement or Section 12.28 (Insurance Covenant), any fact, event or circumstance that has caused, or that with the giving of notice or lapse of time would cause, it to be in breach of any provision of this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of the Common Security and Account Agreement or Section 12.28 (Insurance Covenant) or the requirements of any of the Borrower’s Minimum Insurance policies, and: (1) the steps it proposes to take in order to remedy such breach or, if such breach cannot be remedied, to mitigate the risk or liability to which the Project Facilities have been or shall reasonably be expected to be exposed by virtue of the occurrence of such breach; and (2) its good faith estimate of the period required to implement, and the cost of, such steps. (b) The evidence of Minimum Insurance provided pursuant to Section 10.7(a)(i)(A) (Insurance Reporting) above shall be provided in the form of certificates of insurance, binders or other customary documentation evidencing the existence of all insurance required to be maintained at such time by the Obligors, together with a certificate of the Borrower setting forth the insurance obtained and stating: (i) that such insurance required to be maintained at such time by the Obligors as set forth in the Schedule of Minimum Insurance has been obtained and in each case is in full force and effect; (ii) that such insurance complies with the requirements of the Schedule of Minimum Insurance and is otherwise in accordance with the Finance Documents in all material respects; and (iii) that all premiums then due and payable on all such insurance have been paid.

Insurance Reporting. (a) The Borrower shall provide to the Intercreditor Agent: (i) evidence of Minimum Insurance set forth on, and subject to the provisions of, the Schedule of Minimum Insurance: (A) by the later of (1) the Upsize Closing Date and (2) in respect of any Material Construction Contract, the date of issuance of the “Notice to Proceed” or “FNTP” pursuant to such Material Construction Contract; (B) prior to the transfer of care, custody and control in respect of each of LPS1, LPS2, LPS3, LPS4, LPS5 LPS2 and LPS6 LPS3 in accordance with the Material Construction Contracts; and (C) upon the renewal or replacement of any insurance policy required under the Schedule of Minimum Insurance; (ii) notice as soon as reasonably practicable of: (A) any failure to pay any premium on Minimum Insurance (and in any case, by the date falling ten days after it is due); (B) any actual or reasonably anticipated material reduction in Minimum Insurance coverage (and in any case, within five Business Days after becoming aware of such reduction); (C) any failure to maintain Minimum Insurance coverage (including any cancellation, termination or suspension (for any reason) of any Minimum Insurance) (and in any case, within five Business Days after becoming aware of such cancellation, termination or suspension); (D) any single loss or event likely to give rise to a property damage or liability claim against an insurer for an amount in excess of $150 75 million (and in any case, within five Business Days after becoming aware of such loss or event); (E) without prejudice to its other obligations under this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of the Common Security and Account Agreement or Section 12.28 (Insurance Covenant), any fact, event or circumstance that has caused, or that with the giving of notice or lapse of time would cause, it to be in breach of any provision of this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of the Common Security and Account Agreement or Section 12.28 (Insurance Covenant) or the requirements of any of the Borrower’s Minimum Insurance policies, and: (1) the steps it proposes to take in order to remedy such breach or, if such breach cannot be remedied, to mitigate the risk or liability to which the Project Facilities have been or shall reasonably be expected to be exposed by virtue of the occurrence of such breach; and (2) its good faith estimate of the period required to implement, and the cost of, such steps. (b) The evidence of Minimum Insurance provided pursuant to Section 10.7(a)(i)(A) (Insurance Reporting) above shall be provided in the form of certificates of insurance, binders or other customary documentation evidencing the existence of all insurance required to be maintained at such time by the Obligors, together with a certificate of the Borrower setting forth the insurance obtained and stating: (i) that such insurance required to be maintained at such time by the Obligors as set forth in the Schedule of Minimum Insurance has been obtained and in each case is in full force and effect; (ii) that such insurance complies with the requirements of the Schedule of Minimum Insurance and is otherwise in accordance with the Finance Documents in all material respects; and (iii) that all premiums then due and payable on all such insurance have been paid.

Insurance Reporting. As soon as practicable and in any event, unless otherwise specified, the Borrower shall deliver within five Business Days after the Borrower obtains Knowledge of any of the following, written notice to the P1 Administrative Agent of: (a) The Borrower shall provide to the Intercreditor Agent: (i) evidence of Minimum Insurance set forth on, and subject to the provisions of, the Schedule of Minimum Insurance: (A) by the later of (1) the Upsize Closing Date and (2) in respect occurrence of any Material Construction ContractEvent of Loss or Event of Taking in excess of $75,000,000 in value or any series of such events or circumstances during any twelve month period in excess of $250,000,000 in value in the aggregate, or the date initiation of issuance any insurance claim proceedings with respect to any such Event of the “Notice to Proceed” Loss or “FNTP” pursuant to such Material Construction ContractEvent of Taking; (Bb) prior the occurrence of any event giving rise (or that could reasonably be expected to give rise) to a claim under any insurance policy maintained with respect to the transfer Project in excess of care, custody and control in respect $75,000,000 with copies of each of LPS1, LPS2, LPS3, LPS4, LPS5 and LPS6 in accordance with any material document relating thereto that are available to the Material Construction Contracts; andBorrower; (Cc) upon any failure to pay any premium, cancellation, termination, suspension, or actual or reasonably anticipated material reductions in the coverages or amounts of any insurance required pursuant to the Insurance Program; (d) any reduction in the financial rating of any insurer providing insurance such that the rating no longer meets the requirements set forth in the Insurance Program; (e) any notices or other documents delivered by or to the Borrower pursuant to Exhibit E (Insurance Requirements) of the CFAA; (f) any material claims on insurance carried by the P1 EPC Contractor under the P1 EPC Contracts and a summary of the progress and status of such claims; (g) the renewal or replacement of any insurance policy required under the Schedule of Minimum InsuranceInsurance Program, within thirty days thereof; (ii) notice as soon as reasonably practicable of: (A) any failure to pay any premium on Minimum Insurance (and in any case, by the date falling ten days after it is due); (B) any actual or reasonably anticipated material reduction in Minimum Insurance coverage (and in any case, within five Business Days after becoming aware of such reduction); (C) any failure to maintain Minimum Insurance coverage (including any cancellation, termination or suspension (for any reason) of any Minimum Insurance) (and in any case, within five Business Days after becoming aware of such cancellation, termination or suspension); (D) any single loss or event likely to give rise to a property damage or liability claim against an insurer for an amount in excess of $150 million (and in any case, within five Business Days after becoming aware of such loss or event); (Eh) without prejudice to its other obligations under this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant)CFAA, any fact, event or circumstance that has caused, or that with the giving of notice or notice, lapse of time or making of a determination would cause, it to be in breach of any provision of this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant) CFAA or the requirements of any of the Borrower’s Minimum insurance policies in the Insurance policies, and: Program and (1i) the steps it proposes to take in order to remedy such breach or, if such breach cannot be remedied, to mitigate the risk or liability to which the Project Facilities have has been or shall reasonably be expected to be exposed by virtue of the occurrence of such breach; and breach and (2ii) its good faith estimate of the period required to implement, and the cost of, such steps. (b) The evidence of Minimum Insurance provided pursuant to Section 10.7(a)(i)(A) (Insurance Reporting) above shall be provided in the form of certificates of insurance, binders or other customary documentation evidencing the existence of all insurance required to be maintained at such time by the Obligors, together with a certificate of the Borrower setting forth the insurance obtained and stating:; and (i) any information equivalent to the foregoing that such insurance required the Borrower has received from CFCo or InsuranceCo with respect to be maintained at such time by the Obligors as set forth in the Schedule of Minimum Insurance has been obtained and in each case is in full force and effect; (ii) that such insurance complies with the requirements of the Schedule of Minimum Insurance and is otherwise in accordance with the Finance Documents in all material respects; and (iii) that all premiums then due and payable on all such insurance have been paidProgram.

Insurance Reporting. As soon as practicable and in any event, unless otherwise specified, the Borrower shall deliver within five Business Days after the Borrower obtains Knowledge of any of the following, written notice to the TCF Administrative Agent of: (a) The Borrower shall provide to the Intercreditor Agent: (i) evidence of Minimum Insurance set forth on, and subject to the provisions of, the Schedule of Minimum Insurance: (A) by the later of (1) the Upsize Closing Date and (2) in respect occurrence of any Material Construction ContractEvent of Loss or Event of Taking in excess of $75,000,000 in value or any series of such events or circumstances during any twelve month period in excess of $250,000,000 in value in the aggregate, or the date initiation of issuance any insurance claim proceedings with respect to any such Event of the “Notice to Proceed” Loss or “FNTP” pursuant to such Material Construction ContractEvent of Taking; (Bb) prior the occurrence of any event giving rise (or that could reasonably be expected to give rise) to a claim under any insurance policy maintained with respect to the transfer Project in excess of care, custody and control in respect $75,000,000 with copies of each of LPS1, LPS2, LPS3, LPS4, LPS5 and LPS6 in accordance with any material document relating thereto that are available to the Material Construction Contracts; andBorrower; (Cc) upon any failure to pay any premium, cancellation, termination, suspension, or actual or reasonably anticipated material reductions in the coverages or amounts of any insurance required pursuant to the Insurance Program; (d) any reduction in the financial rating of any insurer providing insurance such that the rating no longer meets the requirements set forth in the Insurance Program; (e) any notices or other documents delivered by or to the Borrower pursuant to Exhibit E (Insurance Requirements) of the CFAA; (f) any material claims on insurance carried by the P1 EPC Contractor under the P1 EPC Contracts and a summary of the progress and status of such claims; (g) the renewal or replacement of any insurance policy required under the Schedule of Minimum InsuranceInsurance Program, within thirty days thereof; (ii) notice as soon as reasonably practicable of: (A) any failure to pay any premium on Minimum Insurance (and in any case, by the date falling ten days after it is due); (B) any actual or reasonably anticipated material reduction in Minimum Insurance coverage (and in any case, within five Business Days after becoming aware of such reduction); (C) any failure to maintain Minimum Insurance coverage (including any cancellation, termination or suspension (for any reason) of any Minimum Insurance) (and in any case, within five Business Days after becoming aware of such cancellation, termination or suspension); (D) any single loss or event likely to give rise to a property damage or liability claim against an insurer for an amount in excess of $150 million (and in any case, within five Business Days after becoming aware of such loss or event); (Eh) without prejudice to its other obligations under this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant)CFAA, any fact, event or circumstance that has caused, or that with the giving of notice or notice, lapse of time or making of a determination would cause, it to be in breach of any provision of this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant) CFAA or the requirements of any of the Borrower’s Minimum insurance policies in the Insurance policies, and: Program and (1i) the steps it proposes to take in order to remedy such breach or, if such breach cannot be remedied, to mitigate the risk or liability to which the Project Facilities have has been or shall reasonably be expected to be exposed by virtue of the occurrence of such breach; and breach and (2ii) its good faith estimate of the period required to implement, and the cost of, such steps. (b) The evidence of Minimum Insurance provided pursuant to Section 10.7(a)(i)(A) (Insurance Reporting) above shall be provided in the form of certificates of insurance, binders or other customary documentation evidencing the existence of all insurance required to be maintained at such time by the Obligors, together with a certificate of the Borrower setting forth the insurance obtained and stating:; and (i) any information equivalent to the foregoing that such insurance required the Borrower has received from CFCo or InsuranceCo with respect to be maintained at such time by the Obligors as set forth in the Schedule of Minimum Insurance has been obtained and in each case is in full force and effect; (ii) that such insurance complies with the requirements of the Schedule of Minimum Insurance and is otherwise in accordance with the Finance Documents in all material respects; and (iii) that all premiums then due and payable on all such insurance have been paidProgram.

Insurance Reporting. As soon as practicable and in any event, unless otherwise specified, the Borrower shall deliver within five Business Days after the Borrower obtains Knowledge of any of the following, written notice thereof to the TCF Administrative Agent of: (a) The Borrower shall provide to the Intercreditor Agent: (i) evidence of Minimum Insurance set forth on, and subject to the provisions of, the Schedule of Minimum Insurance: (A) by the later of (1) the Upsize Closing Date and (2) in respect occurrence of any Material Construction ContractEvent of Loss or Event of Taking in excess of $75,000,000 in value or any series of such events or circumstances during any twelve month period in excess of $250,000,000 in value in the aggregate, or the date initiation of issuance any insurance claim proceedings with respect to any such Event of the “Notice to Proceed” Loss or “FNTP” pursuant to such Material Construction ContractEvent of Taking; (Bb) prior the occurrence of any event giving rise (or that could reasonably be expected to give rise) to a claim under any insurance policy maintained with respect to the transfer Project in excess of care, custody and control in respect $75,000,000 with copies of each of LPS1, LPS2, LPS3, LPS4, LPS5 and LPS6 in accordance with any material document relating thereto that are available to the Material Construction Contracts; andBorrower; (Cc) upon any failure to pay any premium, cancellation, termination, suspension, or actual or reasonably anticipated material reductions in the coverages or amounts of any insurance required pursuant to the Insurance Program; (d) any reduction in the financial rating of any insurer providing insurance such that the rating no longer meets the requirements set forth in the Insurance Program; (e) any notices or other documents delivered by or to the Borrower pursuant to Exhibit E (Insurance Requirements) of the CFAA; (f) any material claims on insurance carried by the P1 EPC Contractor under the P1 EPC Contracts and a summary of the progress and status of such claims; (g) the renewal or replacement of any insurance policy required under the Schedule of Minimum InsuranceInsurance Program, within thirty days thereof; (ii) notice as soon as reasonably practicable of: (A) any failure to pay any premium on Minimum Insurance (and in any case, by the date falling ten days after it is due); (B) any actual or reasonably anticipated material reduction in Minimum Insurance coverage (and in any case, within five Business Days after becoming aware of such reduction); (C) any failure to maintain Minimum Insurance coverage (including any cancellation, termination or suspension (for any reason) of any Minimum Insurance) (and in any case, within five Business Days after becoming aware of such cancellation, termination or suspension); (D) any single loss or event likely to give rise to a property damage or liability claim against an insurer for an amount in excess of $150 million (and in any case, within five Business Days after becoming aware of such loss or event); (Eh) without prejudice to its other obligations under this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant)CFAA, any fact, event or circumstance that has caused, or that with the giving of notice or notice, lapse of time or making of a determination would cause, it to be in breach of any provision of this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 Section 8.17 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant) CFAA or the requirements of any of the Borrower’s Minimum insurance policies in the Insurance policies, and: Program and (1i) the steps it proposes to take in order to remedy such breach or, if such breach cannot be remedied, to mitigate the risk or liability to which the Project Facilities have has been or shall reasonably be |US-DOCS\145399031.8|| expected to be exposed by virtue of the occurrence of such breach; and breach and (2ii) its good faith estimate of the period required to implement, and the cost of, such steps. (b) The evidence of Minimum Insurance provided pursuant to Section 10.7(a)(i)(A) (Insurance Reporting) above shall be provided in the form of certificates of insurance, binders or other customary documentation evidencing the existence of all insurance required to be maintained at such time by the Obligors, together with a certificate of the Borrower setting forth the insurance obtained and stating:; and (i) any information equivalent to the foregoing that such insurance required the Borrower has received from CFCo or InsuranceCo with respect to be maintained at such time by the Obligors as set forth in the Schedule of Minimum Insurance has been obtained and in each case is in full force and effect; (ii) that such insurance complies with the requirements of the Schedule of Minimum Insurance and is otherwise in accordance with the Finance Documents in all material respects; and (iii) that all premiums then due and payable on all such insurance have been paidProgram.

Insurance Reporting. As soon as practicable and in any event, unless otherwise specified, the Borrower shall deliver within five Business Days after the Borrower obtains Knowledge of any of the following, written notice thereof to the P1 Administrative Agent of: (a) The Borrower shall provide to the Intercreditor Agent: (i) evidence of Minimum Insurance set forth on, and subject to the provisions of, the Schedule of Minimum Insurance: (A) by the later of (1) the Upsize Closing Date and (2) in respect occurrence of any Material Construction ContractEvent of Loss or Event of Taking in excess of $75,000,000 in value or any series of such events or circumstances during any twelve month period in excess of $250,000,000 in value in the aggregate, or the date initiation of issuance any insurance claim proceedings with respect to any such Event of the “Notice to Proceed” Loss or “FNTP” pursuant to such Material Construction ContractEvent of Taking; (Bb) prior the occurrence of any event giving rise (or that could reasonably be expected to give rise) to a claim under any insurance policy maintained with respect to the transfer Project in excess of care, custody and control in respect $75,000,000 with copies of each of LPS1, LPS2, LPS3, LPS4, LPS5 and LPS6 in accordance with any material document relating thereto that are available to the Material Construction Contracts; andBorrower; (Cc) upon any failure to pay any premium, cancellation, termination, suspension, or actual or reasonably anticipated material reductions in the coverages or amounts of any insurance required pursuant to the Insurance Program; (d) any reduction in the financial rating of any insurer providing insurance such that the rating no longer meets the requirements set forth in the Insurance Program; (e) any notices or other documents delivered by or to the Borrower pursuant to Exhibit E (Insurance Requirements) of the CFAA; (f) any material claims on insurance carried by the P1 EPC Contractor under the P1 EPC Contracts and a summary of the progress and status of such claims; (g) the renewal or replacement of any insurance policy required under the Schedule of Minimum InsuranceInsurance Program, within thirty days thereof; (ii) notice as soon as reasonably practicable of: (A) any failure to pay any premium on Minimum Insurance (and in any case, by the date falling ten days after it is due); (B) any actual or reasonably anticipated material reduction in Minimum Insurance coverage (and in any case, within five Business Days after becoming aware of such reduction); (C) any failure to maintain Minimum Insurance coverage (including any cancellation, termination or suspension (for any reason) of any Minimum Insurance) (and in any case, within five Business Days after becoming aware of such cancellation, termination or suspension); (D) any single loss or event likely to give rise to a property damage or liability claim against an insurer for an amount in excess of $150 million (and in any case, within five Business Days after becoming aware of such loss or event); (Eh) without prejudice to its other obligations under this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant)CFAA, any fact, event or circumstance that has caused, or that with the giving of notice or notice, lapse of time or making of a determination would cause, it to be in breach of any provision of this Section 10.7 (Insurance Reporting), Article 5 (Insurance and Condemnation Proceeds and Performance Liquidated Damages) of 10.11 Section 8.17 or the Common Security and Account Agreement or Section 12.28 (Insurance Covenant) CFAA or the requirements of any of the Borrower’s Minimum insurance policies in the Insurance policies, and: Program and (1i) the steps it proposes to take in order to remedy such breach or, if such breach cannot be remedied, to mitigate the risk or liability to which the Project Facilities have has been or shall reasonably be expected to be exposed by virtue of the occurrence of such breach; and breach and (2ii) its good faith estimate of the period required to implement, and the cost of, such steps. (b) The evidence of Minimum Insurance provided pursuant to Section 10.7(a)(i)(A) (Insurance Reporting) above shall be provided in the form of certificates of insurance, binders or other customary documentation evidencing the existence of all insurance required to be maintained at such time by the Obligors, together with a certificate of the Borrower setting forth the insurance obtained and stating:; and (i) any information equivalent to the foregoing that such insurance required the Borrower has received from CFCo or InsuranceCo with respect to be maintained at such time by the Obligors as set forth in the Schedule of Minimum Insurance has been obtained and in each case is in full force and effect; (ii) that such insurance complies with the requirements of the Schedule of Minimum Insurance and is otherwise in accordance with the Finance Documents in all material respects; and (iii) that all premiums then due and payable on all such insurance have been paidProgram.