Common use of Policy Provisions Clause in Contracts

Policy Provisions. Each insurance policy required to be obtained pursuant to this Section shall be on terms and conditions acceptable to IFC, and shall contain certain provisions to the effect that: (i) no policy can expire nor can it be canceled or suspended by the Borrower and/or any Subsidiary or the insurer for any reason (including failure to renew the policy or to pay the premium or any other amount) unless IFC and, in the case of expiration or if cancellation or suspension is initiated by the insurer, the Borrower and/or any Subsidiary receive at least thirty (30) days notice (or such lesser period as IFC may agree in respect of cancellation, suspension or termination in the event of war and kindred peril) prior to the effective date of termination, cancellation or suspension; (ii) IFC is named as additional named insured on all liability policies; (iii) where relevant, all its provisions (except those relating to limits of liability) shall operate as if they were a separate policy covering each insured party; and (iv) on every insurance policy on the Borrower and each Subsidiary’s assets which are the subject of the IFC Security and for business interruption, IFC is named as loss payee for any claim of, or any series of claims arising with respect to the same event whose aggregate amount is, the equivalent of one million Dollars ($1,000,000) or more.

Policy Provisions. Each insurance policy required to be obtained pursuant to this Section shall be on terms and conditions acceptable to IFC, and shall contain certain provisions to the effect that: (i) no policy can expire nor can it be canceled cancelled or suspended by the Borrower and/or any Subsidiary or the insurer for any reason (including failure to renew the policy or to pay the premium or any other amount) unless IFC and, in the case of expiration or if cancellation or suspension is initiated by the insurer, the Borrower and/or any Subsidiary receive at least thirty (30) 45 days notice (or such lesser period as IFC may agree in respect of cancellation, suspension or termination in the event of war and kindred peril) prior to the effective date of termination, cancellation or suspension; (ii) IFC is (and all contractors working at the Project site during the construction phase) are named as additional named insured on all liability policies; (iii) where relevant, all its provisions (except those relating to limits of liability) shall operate as if they were a separate policy covering each insured party; and (iv) on every insurance policy on the Borrower and each SubsidiaryBorrower’s assets which are the subject of the IFC Security and for business interruption, IFC is named as loss payee for any claim of, or any series of claims arising with respect to the same event whose aggregate amount is, the equivalent of one million Dollars ($1,000,000) 1,000,000 or more.

Policy Provisions. Each insurance policy required to be obtained pursuant to this Section shall be on terms and conditions acceptable to IFC, and shall contain certain provisions to the effect that: (i) no policy can expire nor can it be canceled or suspended by the Borrower and/or any Subsidiary or the insurer for any reason (including failure to renew the policy or to pay the premium or any other amount) unless IFC and, in the case of expiration or if cancellation or suspension is initiated by the insurer, the Borrower and/or any Subsidiary receive at least thirty forty-five (3045) days days’ notice (or such lesser period as IFC may agree in with respect of to cancellation, suspension or termination in the event of war and kindred peril) prior to the effective date of termination, cancellation or suspension; (ii) IFC is and all contractors working at the Plant site are named as additional named insured on all liability policies; (iii) where relevant, all its provisions (except those relating to limits of liability) shall operate as if they were a separate policy covering each insured party; and (iv) on every insurance policy on the Borrower and each SubsidiaryBorrower’s assets which are the subject of the IFC Security and for business interruptioninterruption or delayed start-up, IFC is named as loss payee for any claim of, or any series of claims arising with respect to the same event whose aggregate amount is, the equivalent of one million hundred thousand Dollars ($1,000,000100,000) or more.;

Policy Provisions. Each insurance policy required to be obtained pursuant to this Section shall be on terms and conditions acceptable to IFC, and shall contain certain provisions to the effect that: (i) no policy can expire nor can it be canceled or suspended by neither the Borrower and/or Company, any Subsidiary or Obligor nor the insurer for any reason (including failure to renew the policy or to pay the premium or any other amount) unless IFC and, in the case of expiration or if cancellation or suspension is initiated by the insurer, the Borrower and/or any Subsidiary receive Company or relevant Obligor receives at least thirty forty-five (3045) days days’ notice (or such lesser period as IFC may agree in with respect of to cancellation, suspension or termination in the event of war and kindred peril) prior to the effective date of termination, cancellation or suspension; (ii) IFC is named as additional named insured on all liability policies; (iii) where relevant, all its provisions (except those relating to limits of liability) shall operate as if they were a separate policy covering each insured party; and (iv) on every insurance policy on each of the Borrower and each SubsidiaryCompany’s and/or Obligor’s assets which are the subject of the IFC Security and for business interruptioninterruption or delayed start-up, IFC is named as loss payee for any claim ofclaim, or any series of claims arising with respect to the same event event, whose aggregate amount is, is the equivalent of one million Dollars ($1,000,000) or more, other than in respect of insurance claims filed prior to the date hereof.

Policy Provisions. Each insurance policy required to be obtained pursuant to this Section shall be on terms and conditions acceptable to IFCDEG, and shall contain certain provisions to the effect that: (i) no policy can expire nor can it be canceled or suspended by the Borrower and/or any Subsidiary or the insurer for any reason (including failure to renew the policy or to pay the premium or any other amount) unless IFC DEG and, in the case of expiration or if cancellation or suspension is initiated by the insurer, the Borrower and/or any Subsidiary receive at least thirty (30) days notice (or such lesser period as IFC DEG may agree in respect of cancellation, suspension or termination in the event of war and kindred peril) prior to the effective date of termination, cancellation or suspension; (ii) IFC DEG is named as additional named insured on all liability policies; (iii) where relevant, all its provisions (except those relating to limits of liability) shall operate as if they were a separate policy covering each insured party; and (iv) on every insurance policy on the Borrower and each Subsidiary’s assets which are the subject of the IFC DEG Security and for business interruption, IFC DEG is named as loss payee for any claim of, or any series of claims arising with respect to the same event whose aggregate amount is, the equivalent of one million Dollars ($1,000,000) or more.

Policy Provisions. Each insurance policy required to be obtained pursuant to this Section shall be on terms and conditions acceptable to IFC, and shall contain certain provisions to the effect that: (i) no policy can expire nor can it be canceled or suspended by the Borrower and/or any Subsidiary Co-Borrowers or the insurer for any reason (including failure to renew the policy or to pay the premium or any other amount) unless IFC and, in the case of expiration or if cancellation or suspension is initiated by the insurer, the Borrower and/or any Subsidiary Co-Borrowers receive at least thirty (30) days days’ notice (or such lesser period as IFC may agree in with respect of to cancellation, suspension or termination in the event of war and kindred peril) prior to the effective date of termination, cancellation or suspension; (ii) IFC is and all contractors working at the Project site are named as additional named insured on all liability policies; (iii) where relevant, all its provisions (except those relating to limits of liability) shall operate as if they were a separate policy covering each insured party; and (iv) on every insurance policy on the Borrower and each Subsidiary’s Co-Borrowers’ assets which are the subject of the IFC Security and for business interruptioninterruption or delayed start-up (including, but not limited to, for civil riot and commotion), IFC is named as loss payee for any claim of, or any series of claims arising with respect to the same event whose aggregate amount is, the equivalent of one million five hundred thousand Dollars ($1,000,000500,000) or more.;

Policy Provisions. Each insurance policy required to be obtained pursuant to this Section shall be on terms and conditions acceptable to IFC, and shall contain certain provisions to the effect that: (i) no policy can expire nor can it be canceled cancelled or suspended by the any Co-Borrower and/or any Subsidiary or the insurer for any reason (including failure to renew the policy or to pay the premium or any other amount) unless IFC and, in the case of expiration or if cancellation or suspension is initiated by the insurer, the relevant Co-Borrower and/or any Subsidiary receive receives at least thirty (30) days days' notice (or such lesser period as IFC may agree in with respect of to cancellation, suspension or termination in the event of war and kindred peril) prior to the effective date of termination, cancellation or suspension; (ii) IFC is and all contractors working at the Project site are named as additional additonal named insured insureds on all liability policies; (iii) where relevant, all its applicable provisions (except those relating to limits of liability) shall operate as if they were a separate policy covering each insured party; and (iv) on every insurance policy on the Borrower and each Subsidiary’s Co-Borrower's assets which are the subject of the IFC Security and for business interruption, IFC is named as loss payee for any claim of, or any series of claims arising with respect to the same event whose aggregate amount is, the equivalent of one million five hundred thousand Dollars ($1,000,000500,000) or more.;