Property All Risk Insurance. From and after the date the Commercial Operation Date, the Managing Member shall maintain, or cause to be maintained, operational property insurance on an “all risk basis” including earthquake, flood, and wind perils, machinery breakdown (including resulting damage from design defects, and faulty workmanship or materials), inland and ocean transit (unless provided under a separate all-risk transit policy for property and equipment noted above under Section 1.1(f), inland transit, and business interruption in an amount equivalent to not less than 12 months of lost profits (including the loss of production tax credits, grossed up for taxes, and renewable energy credits, as applicable) plus debt service and other continuing project expenses and other customary coverages, contingent business interruption in an amount of not less than $5,000,000. Coverage shall be maintained with limits, sublimits, aggregates, deductibles and other terms and conditions consistent with industry practice. Coverage shall include equipment that has not yet been Placed in Service.
Property All Risk Insurance. Seller shall procure and maintain an All Risk Physical Damage policy to insure the full replacement value of the property located at Facility as described in this Agreement. The policy shall include coverage for expediting expense, extra expense, Business Interruption, ensuing loss from faulty workmanship, faulty materials, or faulty design. This Guarantee dated as of [_____________] is made by [_______________] (the “Guarantor”) in favor of SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY, a joint powers authority created under the laws of the State of California (the “Beneficiary”).
Property All Risk Insurance. Seller shall procure and maintain or cause to be procured and maintained an All Risk Physical Damage policy to insure the full replacement value of the property located at Facility as described in this Agreement. The policy shall include coverage for boiler and machinery breakdown, earthquake, flood, expediting expense, extra expense, Business Interruption, ensuing loss from faulty workmanship, faulty materials, and/or faulty design. Earthquake and flood may be sublimited with limits acceptable to Buyer and Seller, such acceptance not to be unreasonably withheld. This policy shall incept as of the Commercial Operation Date. Earthquake and flood insurance may be sublimited with limits based on commercially reasonable efforts that would be acceptable to Buyer, such acceptance not to be unreasonably withheld. EXHIBIT X-000 Xxxxxxxx X-0 APPENDIX G TO POWER PURCHASE AGREEMENT DATED AS OF [____________], 0000 XXXXXXX XXXXXXXX XXXXXXXXXX PUBLIC POWER AUTHORITY AND DESERT HARVEST II LLC QUALITY ASSURANCE PROGRAM
Property All Risk Insurance. Seller shall procure and maintain an All Risk Physical Damage policy to insure the full replacement value of the property located at Facility as described in this Agreement. The policy shall include coverage for expediting expense, extra expense, Business Interruption, ensuing loss from faulty workmanship, faulty materials, and/or faulty design. This policy shall be in full force and effect prior to the expiration of the Builder’s Risk Policy. APPENDIX G FORM OF GUARANTEE This Guarantee dated as of [ ] is made by [ ] (the “Guarantor”) in favor of SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY, a joint powers authority created under the laws of the State of California (the “Beneficiary”).
Property All Risk Insurance. Seller shall procure and maintain or cause to be procured and maintained an All Risk Physical Damage policy to insure the full replacement value of the property located at Facility as described in this Agreement. The policy shall include coverage for boiler and machinery breakdown, earthquake, flood, expediting expense, extra expense, Business Interruption, ensuing loss from faulty workmanship, faulty materials, and/or faulty design. This policy shall incept in full force and effect as of the date of Final Completion. This policy shall name Buyer as an additional insured, and all losses shall be payable in the same manner, as provided for the Builders’ Risk Policy in Paragraph E. 0.5 $ 209,980,000 1 $ 206,505,000 1.5 $ 202,960,000 2 $ 199,345,000 2.5 $ 195,655,000 3 $ 191,890,000 3.5 $ 188,050,000 4 $ 184,135,000 4.5 $ 180,140,000 5 $ 176,065,000 5.5 $ 171,910,000 6 $ 167,670,000 6.5 $ 163,345,000 7 $ 158,935,000 7.5 $ 154,440,000 8 $ 149,855,000 8.5 $ 145,175,000 9 $ 140,405,000 9.5 $ 135,535,000 10 $ 130,570,000 10.5 $ 125,505,000 11 $ 120,340,000 11.5 $ 115,070,000 12 $ 109,695,000 12.5 $ 104,215,000 13 $ 98,625,000 13.5 $ 92,920,000 14 $ 87,105,000 14.5 $ 81,170,000 15 $ 75,120,000 15.5 $ 68,945,000 16 $ 62,650,000 16.5 $ 56,225,000 17 $ 49,675,000 17.5 $ 42,995,000 18 $ 36,180,000 18.5 $ 29,230,000 19 $ 22,140,000 19.5 $ 14,905,000 20 $ 7,525,000 THIS AMENDED AND RESTATED LAND LEASE AGREEMENT (this “Lease”) is made effective as of February 22, 2007 (the “Effective Date”), between Circle Four LLC, a Delaware limited liability company with an address at 000 Xxxxx Xxxx Xxxxxx, XX. Xxx 000, Xxxxxxx, XX 00000 (together with its successors and assigns, the “Lessor”), and Milford Wind Corridor Phase II, LLC, a Delaware limited liability company with an address c/o First Wind Energy, LLC, 00 Xxxxx Xxxxxx, Suite 305, Newton, MA 02459 (together with its successors and assigns, the “Lessee”). Lessor and Lessee are at times collectively referred to herein as the “Parties” or individually as a “Party.”
A. Lessor owns land situated in Beaver and Xxxxxxx Counties, Utah. Approximately 13,130 acres of that land (the “Lessor Lands”), which, together with all other rights, interests, privileges and appurtenances pertaining to the Lessor Lands, including (i) such rights as may exist under law allowing an owner to exploit wind energy occurring on the Lessor Lands (“Wind Rights”), and (ii) other easements and rights of ingress, egress and maintenance of the Lessor Lands an...
Property All Risk Insurance a. all risk property and machinery breakdown insurance, including business interruption on at least industry standard policy form
b. if machinery breakdown and all risk property written on separate policies, joint loss agreement on each policy
c. perils to include but not be limited to earthquake, flood and windstorm
d. policy to insure all property and equipment and machinery that are part of the project and property of others for which insured may be liable (such as rail cars which may be included here or on a separate policy)
e. transit insurance, as required, with a limit sufficient to cover the full value of property in transit
f. losses adjusted on a repair or replacement cost basis
g. all risk limit equivalent to full replacement cost of all insurable property, however the following extensions and perils may be sublimited: · Property at Unscheduled Locations · Expediting Expense · Newly Acquired Property · Rented / Leased Equipment · Pollutant Cleanup and Removal · Demolition / Incidental Course of Construction · Windstorm — at least 25% of full replacement cost of facility · Earthquake — at least 25% of full replacement cost of facility · Flood — at least 25% of full replacement cost of facility · Debris removal · Escalation clause
h. coinsurance clause permitted with compliance i. blanket waiver of subrogation as required by contract j. deductibles not to exceed $25,000 for physical damage except $50,000 for machinery breakdown and 30 days for business interruption (time element)
Property All Risk Insurance. Upon the earlier of COD or expiration of the builders risk coverage required in (g) above and throughout the term of this agreement the Lessee shall maintain for the Project and any other Collateral assets until such time as the Lessor’s obligations under the Financing Documents have been fully discharged, operational property insurance an “all-risk” basis including without limitation earthquake, flood, and wind perils, machinery breakdown (including resulting damage from design defects and faulty workmanship or materials), inland transit (unless provided under a separate all-risk transit policy for property and equipment noted above under paragraph (f)), and off-site storage (unless provided under a separate all-risk property policy for equipment in storage), subject to the following:
A. debris removal with a limit of not less than $5,000,000;
B. expediting and extra expense coverage, each with a limit of not less than $5,000,000; CREZ ASSETS LEASE AGREEMENT
C. transmission and distribution lines with a limit of not less than $5,000,000 per occurrence;
D. pollution and hazardous material clean up and removal with a limit of not less than $1,000,000;
E. earthquake (collapse, sinkhole and subsidence) with a limit of not less than 50% of the outstanding debt (minimum of no less than $30,000,000) subject to availability at commercially reasonable terms;
F. flood with a limit of not less than 50% of the outstanding debt (minimum of no less than $30,000,000) subject to availability at commercially reasonable terms;
G. off-site storage coverage, to the extent applicable, with a per occurrence limit that is sufficient to cover the full replacement cost values of the largest single off-site storage location containing any Project or other Collateral assets;
H. inland transit coverage with a minimum per occurrence limit of $10,000,000 shall contain a 50/50 clause whenever ocean transit risks are insured,
I. such other customary coverages, with sublimits, aggregates and other terms and conditions acceptable to the Administrative Agent in consultation with the Insurance Consultant;
J. such policy may have deductibles of not greater than $250,000 per unit subject to an aggregate of $250,000 per loss for physical damage, except $250,000 per occurrence for flood, and $250,000 per occurrence for earthquake.
Property All Risk Insurance. Seller shall procure and maintain an All Risk Physical Damage policy to insure the full replacement value of the property located at Facility as described in this Agreement. The policy shall include coverage for expediting expense, extra expense, Business Interruption, ensuing loss from faulty workmanship, faulty materials, and/or faulty design. This policy shall be in full force and effect prior to the expiration of the Builder’s Risk Policy. This policy shall have the same insureds, and all losses shall be payable in the same manner, as provided for the Builders’ Risk Policy in Paragraph II.F. This Guarantee dated as of [ ] is made by [ ] (the “Guarantor”) in favor of SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY, a public entity and joint powers agency formed and organized pursuant to the California Joint Exercise of Powers Act (California Government Section 6500 et seq.) (the “Beneficiary”).
Property All Risk Insurance. Seller shall procure and maintain an All Risk Physical Damage policy to insure the full replacement value of the property located at Facility as described in this Agreement. The policy shall include coverage for expediting expense, extra expense, Business Interruption, ensuing loss from faulty workmanship, faulty materials, or faulty design. This policy shall be obtained and placed in full force and effect prior to the expiration of the Builder’s Risk Policy. This policy shall have the same insureds, and all losses shall be payable in the same manner, as provided for the Builders’ Risk Policy in Paragraph II.E.
Property All Risk Insurance. To be maintained at all times on operating assets (except underground pipelines and other assets as may be agreed by OPIC) written on a replacement cost basis of settlement and including Machinery Breakdown, Business Interruption and Contingent Business Interruption with terms, conditions, deductibles, sublimit and aggregated sub limits acceptable to OPIC on the advice of the insurance consultant but in any event at a minimum as follows: