Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows: 7.12.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor. 7.12.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 Days following DB Contractor’s receipt thereof. 7.12.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT. 7.12.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 7 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement, Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible Except for the cost of insurance required to be provided during the Initial premiums that are Maintenance TermContractor’s responsibility under Section 3.4.2, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of bonds, letters of credit and insurance premiums, as follows:
7.12.1 7.8.1 Premiums may be included in invoices hereunder only after payment thereof by DB Maintenance Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Maintenance Contractor in obtaining bonds, letters of credit and insurance in excess of the actual premiums paid therefor.
7.12.2 7.8.2 TxDOT shall be entitled to any return or of retrospective premiums with respect to said bonds, letters of credit and insurance. DB Maintenance Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Maintenance Contractor’s 's receipt thereof.
7.12.3 DB 7.8.3 Maintenance Contractor shall use best efforts to obtain the bonds, letters of credit and insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Maintenance Contractor shall obtain competitive quotes for said bonds, letters of credit and insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB 7.8.4 Maintenance Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required bonds, letters of credit or insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Maintenance Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT; provided, however, that if letters of credit are no longer available, Maintenance Contractor shall provide cash collateral in the amount of the letter of credit unless TxDOT accepts an alternative security and collateral approach.
Appears in 4 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement, Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible Except for the cost of insurance required to be provided during the Initial premiums that are Maintenance TermContractor’s responsibility under Section 3.5.2, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of bonds, letters of credit and insurance premiums, as follows:
7.12.1 7.8.1 Premiums may be included in invoices hereunder only after payment thereof by DB Maintenance Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Maintenance Contractor in obtaining bonds, letters of credit and insurance in excess of the actual premiums paid therefor.
7.12.2 7.8.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said bonds, letters of credit and insurance. DB Maintenance Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Maintenance Contractor’s 's receipt thereof.
7.12.3 DB 7.8.3 Maintenance Contractor shall use best efforts to obtain the bonds, letters of credit and insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Maintenance Contractor shall obtain competitive quotes for said bonds, letters of credit and insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB 7.8.4 Maintenance Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required bonds, letters of credit or insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Maintenance Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT; provided, however, that if letters of credit are no longer available, Maintenance Contractor shall provide cash collateral in the amount of the letter of credit unless TxDOT accepts an alternative security and collateral approach.
Appears in 4 contracts
Samples: Comprehensive Maintenance Agreement, Comprehensive Maintenance Agreement, Comprehensive Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with With respect to insurance policies required to be maintained during subsequent all Maintenance Terms under this Section 7 and Exhibit 103.3, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 3.3.20.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 3.3.20.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Contractor’s receipt thereof.
7.12.3 3.3.20.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 3.3.20.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 3 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement, Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 103.4, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 3.4.20.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 3.4.20.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Contractor’s receipt thereof.
7.12.3 3.4.20.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 3.4.20.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 3 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement, Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 ten Days following DB Contractor’s 's receipt thereof.
7.12.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 3 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement, Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible Except for the cost of insurance required to be provided during the Initial premiums that are Maintenance TermContractor’s responsibility under Section 3.5.2, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of bonds, letters of credit and insurance premiums, as follows:
7.12.1 Premiums may be included in invoices hereunder only after payment thereof by DB Maintenance Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Maintenance Contractor in obtaining bonds, letters of credit and insurance in excess of the actual premiums paid therefor.
7.12.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said bonds, letters of credit and insurance. DB Maintenance Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Maintenance Contractor’s 's receipt thereof.
7.12.3 DB Maintenance Contractor shall use best efforts to obtain the bonds, letters of credit and insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Maintenance Contractor shall obtain competitive quotes for said bonds, letters of credit and insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB Maintenance Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required bonds, letters of credit or insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Maintenance Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT; provided, however, that if letters of credit are no longer available, Maintenance Contractor shall provide cash collateral in the amount of the letter of credit unless TxDOT accepts an alternative security and collateral approach.
Appears in 2 contracts
Samples: Comprehensive Maintenance Agreement, Comprehensive Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Contractor’s 's receipt thereof.
7.12.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.DB
Appears in 2 contracts
Samples: Comprehensive Maintenance Agreement, Comprehensive Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with With respect to insurance policies required to be maintained during subsequent all Maintenance Terms under this Section 7 and Exhibit 103.3, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 3.3.20.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 3.3.20.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 Days days following DB Contractor’s receipt thereof.
7.12.3 3.3.20.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 3.3.20.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 2 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible Except for the cost of insurance required to be provided during the Initial premiums that are Maintenance TermContractor’s responsibility under Section 3.4.2, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of bonds, letters of credit and insurance premiums, as follows:
7.12.1 7.8.1 Premiums may be included in invoices hereunder only after payment thereof by DB Maintenance Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Maintenance Contractor in obtaining bonds, letters of credit and insurance in excess of the actual premiums paid therefor.
7.12.2 7.8.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said bonds, letters of credit and insurance. DB Maintenance Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Maintenance Contractor’s 's receipt thereof.
7.12.3 DB 7.8.3 Maintenance Contractor shall use best efforts to obtain the bonds, letters of credit and insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Maintenance Contractor shall obtain competitive quotes for said bonds, letters of credit and insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB 7.8.4 Maintenance Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required bonds, letters of credit or insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Maintenance Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT; provided, however, that if letters of credit are no longer available, Maintenance Contractor shall provide cash collateral in the amount of the letter of credit unless TxDOT accepts an alternative security and collateral approach.
Appears in 2 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 ten Days following DB Contractor’s 's receipt thereof.
7.12.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 2 contracts
Samples: Comprehensive Maintenance Agreement, Comprehensive Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 ten Days following DB Contractor’s 's receipt thereof.
7.12.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 1 contract
Samples: Comprehensive Maintenance Agreement
Premiums. DB Contractor shall be responsible Except for the cost of insurance required to be provided during the Initial premiums that are Maintenance TermContractor’s responsibility under Section 3.4.2, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of bonds, letters of credit and insurance premiums, as follows:
7.12.1 7.8.1 Premiums may be included in invoices hereunder only after payment thereof by DB Maintenance Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Maintenance Contractor in obtaining bonds, letters of credit and insurance in excess of the actual premiums paid therefor.
7.12.2 7.8.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said bonds, letters of credit and insurance. DB Maintenance Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Maintenance Contractor’s 's receipt thereof.
7.12.3 DB 7.8.3 Maintenance Contractor shall use best efforts to obtain the bonds, letters of credit and insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Maintenance Contractor shall obtain competitive quotes for said bonds, letters of credit and insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 DB 7.8.4 Maintenance Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required bonds, letters of credit or insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Maintenance Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.; provided, however that if letters of credit are no longer available, Maintenance Contractor shall provide cash collateral in the amount of the letter of credit unless TxDOT accepts an alternative security and collateral approach. Texas Department of Transportation Execution Version Horseshoe Project 42 Capital Maintenance Agreement
Appears in 1 contract
Samples: Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible Except for the cost of insurance required to be provided during the Initial premiums that are Maintenance TermContractor’s responsibility under Section 3.4.2, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of bonds, letters of credit and insurance premiums, as follows:
7.12.1 7.9.1 Premiums may be included in invoices hereunder only after payment thereof by DB Maintenance Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Maintenance Contractor in obtaining bonds, letters of credit and insurance in excess of the actual premiums paid therefor.
7.12.2 7.9.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said bonds, letters of credit and insurance. DB Maintenance Contractor shall deliver any such funds to TxDOT within 10 Days ten days following DB Maintenance Contractor’s 's receipt thereof.
7.12.3 DB 7.9.3 Maintenance Contractor shall use best efforts to obtain the bonds, letters of credit and insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Maintenance Contractor shall obtain competitive quotes for said bonds, letters of credit and insurance policies, shall notify TxDOT of the same and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.same,
7.12.4 DB 7.9.4 Maintenance Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required bonds, letters of credit or insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Maintenance Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT; provided, however, that if letters of credit are no longer available, Maintenance Contractor shall provide cash collateral in the amount of the letter of credit unless TxDOT accepts an alternative security and collateral approach.
Appears in 1 contract
Samples: Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with DocuSign Envelope ID: 8320AD6C-99DF-41FA-9908-4E441F89A70B With respect to insurance policies required to be maintained during subsequent all Maintenance Terms under this Section 7 and Exhibit 103.3, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 3.3.20.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 3.3.20.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 Days days following DB Contractor’s receipt thereof.
7.12.3 3.3.20.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same same, and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.
7.12.4 3.3.20.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 1 contract
Samples: Capital Maintenance Agreement
Premiums. DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term. DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases. Solely with respect to insurance policies required to be maintained during subsequent Maintenance Terms under this Section 7 and Exhibit 10, DB Contractor shall be entitled to reimbursement for the costs of insurance premiums, as follows:
7.12.1 Premiums may be included in invoices hereunder only after payment thereof by DB Contractor. Said premiums shall be passed through without any profit or overhead or compensation for any costs incurred by DB Contractor in obtaining insurance in excess of the actual premiums paid therefor.
7.12.2 TxDOT shall be entitled to any return or retrospective premiums with respect to said insurance. DB Contractor shall deliver any such funds to TxDOT within 10 Days following DB Contractor’s receipt thereof.
7.12.3 DB Contractor shall use best efforts to obtain the insurance required hereunder, and renewals thereof, at cost-effective rates. Promptly following a request by TxDOT, or promptly following issuance of the notice to proceed for the applicable Maintenance Term (if not earlier requested), DB Contractor shall obtain competitive quotes for said insurance policies, shall notify TxDOT of the same and shall obtain TxDOT’s approval of said insurance policies before binding coverage. DB Contractor shall accommodate any commercially reasonable changes in providers, coverage or payment terms desired by TxDOT.and
7.12.4 DB Contractor shall promptly notify TxDOT if it becomes apparent at any time during the Maintenance Term that required insurance policies are no longer available or if the premiums for renewals materially increase from the prior rates. In such event, DB Contractor shall work with TxDOT to find commercially reasonable alternatives to the required coverages that are acceptable to TxDOT.
Appears in 1 contract
Samples: Capital Maintenance Agreement