Common use of Marine Cargo and Marine Business Interruption Insurance Clause in Contracts

Marine Cargo and Marine Business Interruption Insurance. To the extent a material exposure exists, transit coverage, either included in a property policy or under a separate policy (including air, land and ocean cargo, as applicable) on an “all-risk” basis and a “warehouse to warehouse” basis with a per occurrence limit equal to not less than 110% of the value including transit and insurance of such shipment involving the Project to or from any storage site or the Project site at all times for which the Project Company has accepted risk of loss or has responsibility for providing insurance. Coverage shall include loading and unloading, temporary storage (as applicable) and a 50/50 clause (if applicable). Coverage shall be maintained in accordance with prudent industry practice in all regards with per occurrence deductibles of not more than $100,000 for physical damage and other terms and conditions acceptable to the Class B Members. Marine Business Interruption insurance shall be attached to the Marine Cargo policy providing equivalent cover, mutatis mutandis, to the Business Interruption cover attached to the All Risk Property policy in accordance with the terms of this Schedule. A limit of $1,000,000 per occurrence and in the aggregate shall be provided for: • Property damage, death and injury (including mental injury). • Broad form property damage. • Blanket contractual. • Products/completed operations • Advertising injury • XCU Deductibles shall be the best commercially available in accordance with prudent industry practice.