ONGOING AND FUTURE OPERATIONS Clause Samples
The "Ongoing and Future Operations" clause defines the rights and obligations of the parties regarding activities that continue or commence after the agreement is executed. It typically outlines how current projects, services, or business operations will be managed, and may address the initiation of new ventures or the continuation of existing ones under the agreement's terms. This clause ensures that both parties have a clear understanding of their responsibilities for ongoing work and any future undertakings, thereby preventing disputes and providing operational continuity.
ONGOING AND FUTURE OPERATIONS a) Fire and named perils (including natural perils, and Strike, Riot & Civil Commotion) or Property All Risks, based on new replacement cost of assets
ONGOING AND FUTURE OPERATIONS. These policies must be in full force for all plants, with the exception of: Salta, Rio Cuarto, Tres ▇▇▇▇▇▇▇, San ▇▇▇▇▇, Realico and Resistencia.
a) Fire and named perils (including natural perils, and Strike, Riot & Civil Commotion) or Property All Risks, based on new replacement cost of assets
b) Public Liability
c) Products Liability with limit to be reviewed annually
ONGOING AND FUTURE OPERATIONS a) Fire and named perils (including natural perils, and strike, riot & civil commotion) or property all risks, based on new replacement cost of assets.
b) Business interruption following 2a) covering loss of net income (rental payments) with indemnity period of twelve (12) months minimum and including:
(i) denial of access;
(ii) suppliers’ and customers’ extension;
(iii) utilities;
(iv) professional fees; and
(v) interim payments. 1 Owner-controlled indicates insurance purchased by owner rather than contractor 2 CIF: Cost, Insurance and Freight
c) General liability with a minimum limit of USD 20,000,000 per occurrence or as agreed with IFC, including coverage for:
(i) liability for loss of or damage to tenant’s property, including goods in storage and auto vehicles;
(ii) liability during minor construction works;
(iii) coverage for subcontractors; and
(iv) parking liability.
ONGOING AND FUTURE OPERATIONS a) Property All Risks (including natural perils, and Strike, Riot & Civil Commotion), based on new replacement cost of assets
b) Public Liability with a minimum limit of US$250,000 any one occurrence
c) Professional Indemnity with a minimum limit of US$2,000,000 any one occurrence and in the annual aggregate
d) Crime/Fidelity Guarantee
e) Motor Contingent Third Party Liability, or comparable insurance coverage
f) Cyber First Party and Third Party
ONGOING AND FUTURE OPERATIONS a) Fire and named perils (including natural perils, and strike, riot & civil commotion) or property all risks, based on new replacement cost of assets.
b) Business interruption following 2a) covering loss of net income (rental payments) with indemnity period of twelve (12) months minimum and including:
(i) denial of access;
(ii) suppliers’ and customers’ extension;
(iii) utilities;
(iv) professional fees; and
(v) interim payments.
c) General liability with a minimum limit of USD 20,000,000 per occurrence or as agreed with IFC, including coverage for:
(i) liability for loss of or damage to tenant’s property, including goods in storage and auto vehicles;
(ii) liability during minor construction works;
(iii) coverage for subcontractors; and
(iv) parking liability.