Common use of Operator’s insurance policies Clause in Contracts

Operator’s insurance policies. (a) The Operator will during the Term take out and maintain a liability insurance policy which provides an indemnity in respect of: (i) loss of, loss of use of, and destruction or damage to, real or personal property; (ii) injury to, or disease or death of, persons; (iii) the Operator’s liability to ARTC under clause 15 to the extent coverable by insurance. (b) The liability insurance policy referred to in clause 16.1(a) will: (i) be with an insurer approved by ARTC (and ARTC will not unreasonably withhold such approval); (ii) have a limit of liability of not less than $250,000,000 (or such other amount as ARTC may reasonably require and notify to the Operator from time to time) for any one occurrence; and (iii) contain provisions that are standard industry terms for railway operators. (c) The Operator will deliver to ARTC when reasonably requested by ARTC copies of such parts of the liability insurance policy referred to in clause 16.1(a) and the Certificates of Currency in relation to such policy, subject to the details of such policy being kept confidential by ARTC (other than for the purpose of seeking indemnification thereunder). (d) The liability limit referred to in clause 16.1(b)(ii) may at ARTC’s absolute discretion be reduced to such other amount as ARTC expressly authorises in writing from time to time. (e) The Operator acknowledges and agrees that: (i) it is the Operator’s responsibility to assess and consider the risks and scope of insurance required for the Operator’s business; (ii) nothing in this clause will exempt the Operator from any liability that is not covered by the liability insurance policy referred to in clause 16.1(a); and (iii) nothing in this clause will impose liability on ARTC, including where ARTC approves a reduction in the liability limit referred to in clause 16.1(b)(ii).

Operator’s insurance policies. (a) The Operator will during the Term take out and maintain a liability insurance policy which provides an indemnity in respect of: (i) loss of, loss of use of, and destruction or damage to, real or personal property; (ii) injury to, or disease or death of, persons; (iii) the Operator’s 's liability to ARTC under clause 15 to the extent coverable by insurance. (b) The liability insurance policy referred to in clause 16.1(a) willmust: (i) be with an insurer approved by ARTC (and ARTC will not unreasonably withhold such approval); (ii) have a limit of liability of not less than $250,000,000 (or such other amount as ARTC may reasonably require and notify to the Operator from time to time) for any one occurrence; and; (iii) contain provisions that are standard industry terms for railway operators. (c) The Operator will deliver to ARTC when reasonably requested by ARTC copies of such parts of the liability insurance policy referred to in clause 16.1(a) and the Certificates of Currency in relation to such policy, subject to the details of such policy being kept confidential by ARTC (other than for the purpose of seeking indemnification thereunder). (d) The liability limit referred to in clause 16.1(b)(ii) may at ARTC’s absolute discretion be reduced to such other amount as ARTC expressly authorises in writing from time to time. (e) The Operator acknowledges and agrees that: (i) it is the Operator’s 's responsibility to assess and consider the risks and scope of insurance required for the Operator’s 's business; (ii) nothing in this clause will exempt the Operator from any liability that is not covered by the liability insurance policy referred to in clause 16.1(a); and (iii) nothing in this clause will impose liability on ARTC, including where ARTC approves a reduction in the liability limit referred to in clause 16.1(b)(ii).

Operator’s insurance policies. (a) The Operator will during the Term take out and maintain a liability insurance policy which provides an indemnity in respect of: (i) loss of, loss of use of, and destruction or damage to, real or personal property; (ii) injury to, or disease or death of, persons; (iii) the Operator’s 's liability to ARTC under clause 15 to the extent coverable by insurance. (b) The liability insurance policy referred to in clause 16.1(a) will: (i) be with an insurer approved by ARTC (and ARTC will not unreasonably withhold such approval); (ii) have a limit of liability of not less than $250,000,000 350,000,000 (or such other amount as ARTC may reasonably require and notify to the Operator from time to time) for any one occurrence; and; (iii) contain provisions that are standard industry terms for railway operators. (c) The Operator will deliver to ARTC when reasonably requested by ARTC copies of such parts of the liability insurance policy referred to in clause 16.1(a) and the Certificates of Currency in relation to such policy, subject to the details of such policy being kept confidential by ARTC (other than for the purpose of seeking indemnification thereunder). (d) The liability limit referred to in clause 16.1(b)(ii) may at ARTC’s absolute discretion be reduced to such other amount as ARTC expressly authorises in writing from time to time. (e) The Operator acknowledges and agrees that: (i) it is the Operator’s 's responsibility to assess and consider the risks and scope of insurance required for the Operator’s 's business; (ii) nothing in this clause will exempt the Operator from any liability that is not covered by the liability insurance policy referred to in clause 16.1(a); and (iii) nothing in this clause will impose liability on ARTC, including where ARTC approves a reduction in the liability limit referred to in clause 16.1(b)(ii).

Operator’s insurance policies. (a) The Operator will during the Term take out and maintain a liability insurance policy which provides an indemnity in respect of: (i) loss of, loss of use of, and destruction or damage to, real or personal property; (ii) injury to, or disease or death of, persons; (iii) the Operator’s 's liability to ARTC under clause 15 to the extent coverable by insurance. (b) The liability insurance policy referred to in clause 16.1(a) will: (i) be with an insurer approved by ARTC (and ARTC will not unreasonably withhold such approval); (ii) have a limit of liability of not less than $250,000,000 250350,000,000 (or such other amount as ARTC may reasonably require and notify to the Operator from time to time) for any one occurrence; and; (iii) contain provisions that are standard industry terms for railway operators. (c) The Operator will deliver to ARTC when reasonably requested by ARTC copies of such parts of the liability insurance policy referred to in clause 16.1(a) and the Certificates of Currency in relation to such policy, subject to the details of such policy being kept confidential by ARTC (other than for the purpose of seeking indemnification thereunder). (d) The liability limit referred to in clause 16.1(b)(ii) may at ARTC’s absolute discretion be reduced to such other amount as ARTC expressly authorises in writing from time to time. (e) (d) The Operator acknowledges and agrees that: (i) it is the Operator’s 's responsibility to assess and consider the risks and scope of insurance required for the Operator’s 's business; (ii) nothing in this clause will exempt the Operator from any liability that is not covered by the liability insurance policy referred to in clause 16.1(a); and (iii) nothing in this clause will impose liability on ARTC, including where ARTC approves a reduction in the liability limit referred to in clause 16.1(b)(ii).