Loss or Damage to the Facility Sample Clauses

Loss or Damage to the Facility. Operator shall be responsible for any physical loss or damage to the Facility resulting from Operator’s gross negligence or willful misconduct in the course of the performance of its obligations under this Agreement, in an amount not to exceed (i) the applicable deductible under Owner’s physical damage insurance policies that covers such loss or damage or (ii) Four Hundred Thousand Dollars ($400,000) for any such loss or damage caused during a given Year.

Loss or Damage to the Facility. O&M shall be responsible for any physical loss or damage to the Facility resulting from O&M’s gross negligence or willful misconduct in the course of the performance of its obligations under this Agreement, in an amount not to exceed the greater of (i) the applicable deductible under MLP GP’s or its Affiliates’ physical damage insurance policies that covers such loss or damage or (ii) $400,000 for any such loss or damage caused during a given calendar year.

Loss or Damage to the Facility. Owner acknowledges that it is required to carry casualty insurance on the Facility and Owner’s other property as set forth in Section 14.01 below, and that Operator shall therefore have no liability for any physical loss or damage to the Facility or other property of Owner to the extent such loss or damage is covered by such insurance (or would be covered by such insurance if in effect). If such loss or damage is not covered by such insurance, Operator shall have liability therefor only to the extent it has been determined to be caused by Operator’s gross negligence or willful misconduct and in all events subject to Article XIII below.