Common use of Project Co’s Obligations - Damage or Destruction Clause in Contracts

Project Co’s Obligations - Damage or Destruction. Subject to Section 6.5, Section 6.7, 6.7A and Section 6.8, and without prejudice to Section 8, if all or any part of the School or Schools is damaged or destroyed, Project Co will repair, replace or restore the part of the School or Schools so damaged or destroyed in accordance with the Design and Construction Specifications subject only to: (a) applicable Laws; and (b) the Authority agreeing to pay to Project Co: (1) the amount, if any, by which the cost of such repair, replacement or restoration exceeds the maximum amount of insurance coverage required under this Agreement for such risk; or (2) if no insurance coverage is required under this Agreement for such risk, an amount equal to the total costs of such repair, replacement or restoration, and if the Authority agrees, the Authority will pay such amounts promptly upon receipt of one or more invoices from Project Co indicating that such amounts are due and payable by Project Co in connection with such repair, replacement or restoration. For the purposes of this Section 6.3 and Section 6.7A, the maximum amount of insurance coverage is (1) in respect of insurance required to be obtained by Project Co, the full amount of coverage required under this Agreement for such risk prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance] or (2) in respect of insurance required to be obtained by the Authority, the full amount of applicable Insurance Proceeds and applicable Insurance Receivables plus any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance]).

Project Co’s Obligations - Damage or Destruction. Subject to Section 6.5, Section 6.7, 6.7A and Section 6.86.4, and without prejudice to Section 8, if all or any part of the School or Schools Facility is damaged or destroyed, Project Co will repair, replace or restore the part of the School or Schools Facility so damaged or destroyed in accordance with the Design and Construction Specifications subject only to: (a) applicable Laws; and (b) the Authority agreeing to pay to Project Co: (1) the amount, if any, by which the cost of such repair, replacement or restoration exceeds the maximum amount of insurance coverage required under this Agreement for such riskrisk (which for greater certainty is the maximum amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance Requirements]); or (2) if no insurance coverage is required under this Agreement for such risk, an amount equal to the total costs of such repair, replacement or restoration, and if the Authority agrees, the Authority will pay such amounts promptly upon receipt of one or more invoices from Project Co Co. indicating that such amounts are due and payable by Project Co Co. in connection with such repair, replacement or restoration. For the purposes of this Section 6.3 and Section 6.7A6.3, the maximum amount of insurance coverage is (1) in respect of insurance required to be obtained by Project Co, the full amount of coverage required under this Agreement for such risk prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [InsuranceInsurance Requirements] or (2) in respect of insurance required to be obtained by the Authority, the full amount of applicable Insurance Proceeds and applicable Insurance Receivables plus any deductibles for which Project Co is responsible pursuant to Schedule 5 [InsuranceInsurance Requirements]).

Project Co’s Obligations - Damage or Destruction. ‌ Subject to Section 6.5, Section 6.7, 6.7A and Section 6.8, and without prejudice to Section 8, if all or any part of the School or Schools Facility is damaged or destroyed, Project Co will repair, replace or restore the part of the School or Schools Facility so damaged or destroyed in accordance with the Design and Construction Specifications subject only to: (a) applicable Laws; and (b) the Authority agreeing to pay to Project Co: (1) the amount, if any, by which the cost of such repair, replacement or restoration exceeds the maximum amount of insurance coverage required under this Agreement for such riskrisk (which for greater certainty is the maximum amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance]); or (2) if no insurance coverage is required under this Agreement for such risk, an amount equal to the total costs of such repair, replacement or restoration, and if the Authority agrees, the Authority will pay such amounts promptly upon receipt of one or more invoices from Project Co indicating that such amounts are due and payable by Project Co in connection with such repair, replacement or restoration. For the purposes of this Section 6.3 and Section 6.7A6.3, the maximum amount of insurance coverage is (1) in respect of insurance required to be obtained by Project Co, the full amount of coverage required under this Agreement for such risk prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance] or (2) in respect of insurance required to be obtained by the Authority, the full amount of applicable Insurance Proceeds and applicable Insurance Receivables plus any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance]).

Project Co’s Obligations - Damage or Destruction. ‌ Subject to Section 6.5, Section 6.7, 6.7A and Section 6.86.4, and without prejudice to Section 8, if all or any part of the School or Schools is Buildings are damaged or destroyed, Project Co will repair, replace or restore the part of the School or Schools Buildings so damaged or destroyed in accordance with the Design and Construction Specifications subject only to: (a) applicable Laws; and (b) the Authority agreeing to pay to Project Co:Co:‌ (1) the amount, if any, by which the cost of such repair, replacement or restoration exceeds the maximum amount of insurance coverage required under this Agreement for such riskrisk (which for greater certainty is the maximum amount of coverage prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [Insurance Requirements]); or (2) if no insurance coverage is required under this Agreement for such risk, an amount equal to the total costs of such repair, replacement or restoration, and if the Authority agrees, the Authority will pay such amounts promptly upon receipt of one or more invoices from Project Co Co. indicating that such amounts are due and payable by Project Co Co. in connection with such repair, replacement or restoration. For the purposes of this Section 6.3 and Section 6.7A6.3, the maximum amount of insurance coverage is (1) in respect of insurance required to be obtained by Project Co, the full amount of coverage required under this Agreement for such risk prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 [InsuranceInsurance Requirements] or (2) in respect of insurance required to be obtained by the Authority, the full amount of applicable Insurance Proceeds and applicable Insurance Receivables plus any deductibles for which Project Co is responsible pursuant to Schedule 5 [InsuranceInsurance Requirements]).

Project Co’s Obligations - Damage or Destruction. Subject to Section 6.5, Section 6.7, 6.7A and Section 6.87.4 of this Agreement, and without prejudice to Section 89 of this Agreement, if all or any part of the School or Schools is Facility are damaged or destroyed, Project Co will repair, replace or restore the part of the School or Schools Facility so damaged or destroyed in accordance with the Design Specifications and Construction Specifications Drawings subject only to: (a) applicable Laws; and (b) the Authority BC Hydro agreeing to pay to Project Co: (1i) the amount, if any, by which the cost of such repair, replacement or restoration exceeds the maximum amount of insurance coverage required under this Agreement for such risk; or (2ii) if no insurance coverage is required under this Agreement for such risk, an amount equal to the total costs of such repair, replacement or restoration, and if the Authority BC Hydro agrees, the Authority BC Hydro will pay such amounts promptly upon receipt of one or more invoices from Project Co indicating that such amounts are due and payable by Project Co in connection with such repair, replacement or restoration. For the purposes of this Section 6.3 and Section 6.7A7.3 of this Agreement, the maximum amount of insurance coverage is is: (1c) in respect of insurance required to be obtained by Project Co, the full amount of coverage required under this Agreement for such risk prior to any deductibles for which Project Co is responsible pursuant to Schedule 5 13 [Insurance] or ]; or (2d) in respect of insurance required to be obtained by the AuthorityBC Hydro, the full amount of applicable Insurance Proceeds and applicable Insurance Receivables plus any deductibles for which Project Co is responsible pursuant to Schedule 5 13 [Insurance]).