Common use of Provisions With Respect to Insurance Clause in Contracts

Provisions With Respect to Insurance. (a) The Facility Lessee will, subject to Section 11.6, place the insurance maintained pursuant to this Section 11 with companies having an A.M. Best rating of at least "A-" or, if not so rated, of comparable financial strength. All insurance policies required to be maintained pursuant to Section 11.2 shall name the Owner Lessor, the Lessor Manager, the Trust Company, the Owner Participant, the sole member of the Owner Participant and any other entity in the chain of ownership up to and including the Equity Investor (so long as the Owner Participant provides the Facility Lessee with the name of each such entity) and, so long as the Lien of the Lease Indenture shall not have been terminated or discharged, the Lease Indenture Trustee (collectively, the "Additional Insured Parties") as additional insureds, as their interests may -------------------------- appear. All insurance policies required to be maintained pursuant to this Section 11 shall also provide for at least 30 days' prior written notice (10 days for non-payment) by the insurance carrier to the Additional Insured Parties in the event of cancellation, non- renewal, termination, expiration or material change. The Facility Lessee will place the insurance required by this Section 11 with insurance companies that agree to waive all claims for premiums from, and all subrogation rights against, the Additional Insured Parties. All the insurance maintained pursuant to this Section 11.3 shall be primary without right of contribution of any other insurance carried by or on behalf of the Additional Insured Parties with respect to their respective interests in the Facility, and the Facility Site.

Appears in 2 contracts

Samples: Facility Lease Agreement (Dynegy Danskammer LLC), Participation Agreement (Dynegy Danskammer LLC)

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Provisions With Respect to Insurance. (a) The Facility Lessee will, subject Subject to Section 11.6, the Facility Lessee will place the insurance maintained pursuant to this Section 11 with companies having an A.M. Best rating of at least "A-" or a comparable rating by S&P or, if not so rated, of comparable financial strength. All insurance policies required to be maintained pursuant to Section 11.2 shall name the Owner Lessor, the Lessor Manager, the Trust Company, the Owner Participant, the sole member of the Owner Participant and any other entity in the chain of ownership up to and including the Equity Investor (so long as the Owner Participant provides the Facility Lessee with the name of each such entity) and, so long as the Lien of the Lease Indenture shall not have been terminated or discharged, the Lease Indenture Trustee (collectively, the "Additional Insured Parties") as additional insureds, as their interests may -------------------------- appear. All insurance policies required to be maintained pursuant to this Section 11 shall also provide for at least 30 days' prior written notice (10 days for non-payment) by the insurance carrier to the Additional Insured Parties Owner Lessor, the Owner Participant and, so long as the Lien of the Lease Indenture shall not have been terminated or discharged, the Lease Indenture Trustee in the event of cancellation, non- non-renewal, termination, expiration or material change. The Facility Lessee will place the insurance required by this Section 11 with insurance companies that which agree to waive all claims for premiums from, and all subrogation rights against, the Additional Insured PartiesOwner Lessor, the Owner Participant and the Lease Indenture Trustee. All the insurance maintained pursuant to this Section 11.3 shall be primary without right of contribution of any other insurance carried by or on behalf of the Additional Insured Parties Owner Lessor, the Owner Participant or the Lease Indenture Trustee with respect to their respective interests in the Facility, and the Facility Colstrip Site.

Appears in 1 contract

Samples: Facility Lease Agreement (PPL Montana LLC)

Provisions With Respect to Insurance. (a) The Facility Lessee will, subject Subject to Section 11.6, the Lessee will place the insurance maintained pursuant to this Section 11 with companies insurers of recognized reputation, each having an A.M. Best rating of at least "A-A-,IX" or, if not so rated, of comparable financial strengthstrength as an insurer with such a rating. All insurance policies required to be maintained pursuant to Section 11.2 11.1 shall name the Owner LessorLessor or, the Lessor Manager, the Trust Company, the Owner Participant, the sole member of the Owner Participant and any other entity in the chain of ownership up to and including the Equity Investor (so long as the Owner Participant provides the Facility Lessee with the name of each such entity) and, so long as if the Lien of the Lease Indenture shall not have been terminated or discharged, the Lease Indenture Trustee as the First Loss Payee and pursuant to clauses (collectivelya), (b) and (d) of Section 11.2 shall name the Lessor, the "Additional Insured Parties") Trust Company, the Trustee, the Owner Participant and the Indenture Trustee as additional insureds, as their interests may -------------------------- appear. All insurance policies required to be maintained pursuant to this Section 11 shall also provide for at least 30 days' prior written notice (10 days for non-payment) by the insurance carrier to the Additional Insured Parties Lessor, the Trust Company, the Trustee, the Owner Participant and the Indenture Trustee in the event of cancellation, non- non-renewal, termination, expiration or material change. The Facility Lessee will place the insurance required by this Section 11 only with insurance companies that which agree to waive all claims for premiums from, and all subrogation rights against, the Additional Insured PartiesLessor, the Trust Company, the Trustee, the Owner Participant and the Indenture Trustee. All the insurance maintained pursuant to this Section 11.3 shall be primary without right of contribution of any other insurance carried by or on behalf of the Additional Insured Parties Lessor, the Trust Company, the Trustee, the Owner Participant and the Indenture Trustee with respect to their respective interests in the Facility, Facility and the Facility Site.

Appears in 1 contract

Samples: Facility Lease Agreement (Aes Eastern Energy Lp)

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Provisions With Respect to Insurance. (a) The In respect of the insurance required to be maintained or caused to be maintained by the Facility Lessee under this Section 11, the Facility Lessee will, or will use reasonable efforts in respect of insurance that it does not directly effect, but for which it has benefit, subject to Section 11.611.6 below, (i) place the insurance maintained pursuant to this Section 11 11.3 with companies having an A.M. Best rating of at least "A-" or, if not so rated, of comparable financial strength. All , (ii) except in the case of any insurance policies required to be maintained issued pursuant to Section 11.2 shall 11.1, name the Owner Lessor, the Lessor Manager, the Trust CompanyManager (both in its individual capacity and as manager), the Owner Participant, the sole member of the Owner Participant and any other entity in the chain of ownership up to and including Equity Investor, the Equity Investor (so long as Subsidiary Holding Company, the Owner Participant provides the Facility Lessee with the name of each such entity) and, so long as the Lien of the Lease Indenture shall not have been terminated or dischargedEquity Subsidiary, the Lease Indenture Trustee (collectively, and the "Additional Insured Parties") Pass Through Trustee as additional insureds, as their interests may -------------------------- appear. All , (iii) in the case of insurance policies required to be maintained issued pursuant to this Section 11 shall also provide for at least 30 days' prior written notice 11.1, name the Owner Lessor, the Lessor Manager (10 days for non-paymentboth in its individual capacity and as manager), the Owner Participant, the Equity Investor, the Equity Subsidiary Holding Company, the Equity Subsidiary, the Lease Indenture Trustee and the Pass Through Trustee as additional named insured and/or loss payees, as appropriate, (iv) by cause the insurance carrier companies to the Additional Insured Parties in the event of cancellation, non- renewal, termination, expiration or material change. The Facility Lessee will place the insurance required by this Section 11 with insurance companies that agree to waive all claims for premiums from, and all subrogation rights against, the Additional Insured Parties. All Owner Lessor, the Lessor Manager, the Owner Participant, the Equity Investor, the Equity Subsidiary Holding Company, the Equity Subsidiary, the Lease Indenture Trustee and the Pass Through Trustee, and (v) cause such insurance maintained pursuant to this Section 11.3 shall be primary without right of contribution of any other insurance carried by or on behalf of the Additional Insured Parties Owner Lessor, the Owner Participant, the Equity Investor, the Equity Subsidiary Holding Company, the Equity Subsidiary, the Lease Indenture Trustee and the Pass Through Trustee with respect to their respective interests in the Facility, Facility and the Facility Site.

Appears in 1 contract

Samples: Facility Lease Agreement (Reliant Energy Mid Atlantic Power Services Inc)

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