Nuclear Property Insurance Sample Clauses

Nuclear Property Insurance. Owners shall take reasonable steps to maintain property insurance in reasonable amounts and at reasonable costs with respect to the Facility and the Summer Facility and the Unit 1 (and associated structures) as may be available from the existing nuclear property insurance pools (e.g., Nuclear Electric Insurance Limited – XXXX), or other sources and consistent with the then current industry practice, providing protection against physical loss or damage to the Summer Facility. The limits of insurance shall also be maintained in accordance with the requirements of the U.S. Nuclear Regulatory Commission and in a manner and to the extent that property of similar character is usually insured by companies similarly situated to the Owners with like properties. Such insurance shall cover Toshiba and its Affiliates set forth on Schedule 7.5 hereto to the extent of their interest in any loss paid thereunder, and as between Owners and Toshiba and its Affiliates set forth on Schedule 7.5 hereto, Owners hereby waive all rights to proceeds from such insurance and rights of subrogation on behalf of themselves and their insurers for any loss or damage covered by such insurance to the extent of Toshiba’s and its Affiliates’ (such Affiliates set forth on Schedule 7.5 hereto) loss during the Work and thereafter whether liability for such loss or damage arises in contract, tort or otherwise, and irrespective of fault, negligence, strict liability or otherwise.

Nuclear Property Insurance. Owners shall take reasonable steps to maintain property insurance in reasonable amounts and at reasonable costs with respect to the Facility and the Site and the VEGP Units 1 and 2 sites (and associated structures) as may be available from the existing nuclear property insurance pools (e.g., Nuclear Electric Insurance Limited – XXXX), or other sources and consistent with the then current industry practice, providing protection against physical loss or damage to the Facility and the VEGP site. The

Nuclear Property Insurance. Owners shall take reasonable steps to maintain property insurance in reasonable amounts and at reasonable costs with respect to the Facility and the Site and the VEGP Units 1 and 2 sites (and associated structures) as may be available from the existing nuclear property insurance pools (e.g., Nuclear Electric Insurance Limited – XXXX), or other sources and consistent with the then current industry practice, providing protection against physical loss or damage to the Facility and the VEGP site. The limits of insurance shall also be maintained in accordance with the requirements of the U.S. Nuclear Regulatory Commission and in a manner and to the extent that property of similar character is usually insured by companies similarly situated to the Owners with like properties. Such insurance shall cover Toshiba and its Affiliates set forth on Schedule 8.5 hereto to the extent of their interest in any loss paid thereunder, and as between Owners and Toshiba and its Affiliates set forth on Schedule 8.5 hereto, Owners hereby waive all rights to proceeds from such insurance and rights of subrogation on behalf of themselves and their insurers for any loss or damage covered by such insurance to the extent of Toshiba’s and its Affiliates’ (such Affiliates set forth on Schedule 8.5 hereto) loss during the Work and thereafter whether liability for such loss or damage arises in contract, tort or otherwise, and irrespective of fault, negligence, strict liability or otherwise.

Nuclear Property Insurance. Owners shall take reasonable steps to maintain property insurance in reasonable amounts and at reasonable costs with respect to the Facility and the Site and the VEGP Units 1 and 2 sites (and associated structures) as may be available from the existing nuclear property insurance pools (e.g., Nuclear Electric Insurance Limited – XXXX), or other sources and consistent with the then current industry practice, providing protection against physical loss or damage to the Facility and the VEGP site. The limits of insurance shall also be maintained in accordance with the requirements of the NRC and in a manner and to the extent that property of similar character is usually insured by companies similarly situated to Owners with like properties. Such insurance shall cover Contractor and Contractor Interests (other than Affiliates of either Consortium Member unless such Affiliates are also either performing Work or are Subcontractors or Vendors of the Contractor) to the extent of their interest in any loss paid thereunder, and as between Owners and Contractor, Owners hereby waive all rights to proceeds from such insurance and rights of subrogation on behalf of themselves and their insurers for any loss or damage covered by such insurance to the extent of Contractor’s or Contractor Interests’ loss during the Work and thereafter whether liability for such loss or damage arises in contract, tort or otherwise, and irrespective of fault, negligence, strict liability or otherwise. Owners shall use commercially reasonable efforts to extend such insurance coverage to include Affiliates of Consortium Members that are not performing Work.

Nuclear Property Insurance. Owner shall also maintain property insurance with respect to the Facility and the site (as defined in the policy) as may be available from Nuclear Electric Insurance Limited (XXXX) or other sources consistent with the requirements of the NRC and Good Industry Practices, providing protection against loss or damage to the Facility. The limits of insurance shall also be maintained in accordance with the requirements of the NRC and Good Industry Practices. Such insurance shall cover Contractor and Contractor Interests as their interests may appear. Owner waives and shall require its insurers to waive all rights of recovery against Contractor or any Contractor Interest on account of any nuclear or non-nuclear loss or damage covered by such property insurance during the Work and thereafter, whether arising in contract, tort or otherwise, and irrespective of fault, negligence or strict liability of any of the Contractor Interests. In the event Owner recovers damages from a third party based on losses at the Facility, the Site, or Nearby Work Areas resulting from a Nuclear Incident, Owner shall indemnify Contractor and all Contractor Interests against claims by such third party which are based on Owner’s recovery of such damages. In addition, Owner waives, and will require its insurers to waive, all rights of recovery against Contractor and Contractor Interests for any and all costs or expenses arising out of or in connection with the investigation and settlement of claims or the defense of suits for damage resulting from a Nuclear Incident during the Work and thereafter.