No Compensation Where Insured Sample Clauses

No Compensation Where Insured. Notwithstanding anything to the contrary in this Agreement, except in the case of compensation for Claims and Direct Losses under Part 8 [Supervening Events] (in which case Section 8.11 [Effect of Insurance] applies), and in the case of compensation on termination under Schedule 13 [Compensation on Termination] (in which case Section 7.1 [No Compensation to Extent of Insurance] of Schedule 13 applies), neither the Province nor BCTFA shall be liable to Project Co, whether in contract or in tort or on any other basis whatsoever, for any Claims or Direct Losses, and any amounts payable by the Province or BCTFA shall be reduced, to the extent, in respect of such Claims or Direct Losses: (a) that: (i) Project Co recovers or is entitled to recover under any Required Insurance, or would have been able to recover under any Required Insurance if such Required Insurance had been taken out and maintained in accordance with this Agreement; or (ii) the Claims or Direct Losses are insured against, or required to be insured against under any Required Insurance, or would have been insured against under any Required Insurance if such Required Insurance had been taken out and maintained in accordance with this Agreement; whether or not such Required Insurance was in fact effected or, if effected, was vitiated, and whether vitiated as a result of any act or omission of Project Co (or of any person for whom Project Co is in law responsible) including, but not limited to, by reason of non- disclosure or under-insurance or failure or insolvency of the insurer, or for any other reason (excluding only vitiation caused by any act or omission of the Province or any person for whom the Province is in law responsible, but only to the extent non-vitiation terms protecting against vitiation in the case of such act or omission are not required by the terms of this Agreement to be included in the applicable insurance policies); (b) that Project Co recovers or is entitled to recover under any policy of insurance that is not Required Insurance but that Project Co has in fact taken out and maintained; (c) that there are proceeds of insurance held by the Insurance Trustee that are (subject to Project Co fulfilling all conditions to the disbursement thereof) available for satisfaction of such Claims or Direct Losses, in whole or in part; (d) that the Province makes or authorizes, or is obligated under this Agreement (subject to Project Co fulfilling all conditions thereto) to make or authoriz...