Seller’s Insurance. Seller shall maintain (A) property insurance on the System for the replacement cost thereof, (B) commercial general liability insurance with coverage of at least $1,000,000 per occurrence and $2,000,000 annual aggregate, (C) employer’s liability insurance with coverage of at least $1,000,000 and (iv) workers’ compensation insurance as required by law.
Seller’s Insurance. 15.5.1 Seller shall obtain and maintain or cause to be obtained and maintained:
(a) insurance for the Driftwood LNG Terminal to the extent required by Applicable Law, and
(b) additional insurance, as is reasonably necessary and available on reasonable commercial terms, against such other risks and at such levels as a Reasonable and Prudent Operator of a liquefaction terminal would obtain.
15.5.2 Seller shall obtain or cause to be obtained the insurance required by Section 15.5.1 from a reputable insurer (or insurers) reasonably believed to have adequate financial reserves. Seller shall exercise its best efforts, or shall cause the applicable insured Person to use its best efforts, to collect any amount due under such insurance policies.
Seller’s Insurance. If necessary or appropriate for Purchaser to evaluate its options or enforce its rights under this Article 7 following any damage to the Property, Seller shall promptly provide to Purchaser on request a copy of Seller's property insurance policies (or other applicable insurance policies) with respect to the Property.
Seller’s Insurance. Seller shall maintain throughout the Term of this Agreement, at its sole cost and expense, the policies of insurance meeting the terms and conditions set forth on Schedule 11.3 attached hereto and made a part hereof.
Seller’s Insurance. Through the Time of Transfer, the Seller will maintain insurance coverage customarily maintained by the parties engaged in the Business and covering all loss, damage, liability and risk allocated to the Sellers in paragraph 11.3 including, without limitation, general liability, casualty, workers’ compensation, vehicle and property insurance in amounts customarily maintained by the Seller.
Seller’s Insurance. Buyer acknowledges and agrees that all insurance policies maintained by Seller in respect of the Company and its assets and properties (which, for the avoidance of doubt, do not include the Insurance Policies) may be terminated by Seller at the Closing and that Buyer shall have no right, title or interests in or to any unearned premiums on any such insurance policies maintained by Seller. Following the Closing, Buyer shall not, and shall cause its Affiliates (including the Company) not to, make any claims under any such insurance policies. Buyer shall arrange insurance coverage for itself, the Company and their respective assets and properties, effective as of the Closing, with insurers of its own choice; provided, however, that in respect of any claims commenced after the Closing Date arising from an event, circumstance or occurrence prior to the Closing Date, during the period between the Closing and the six-month anniversary of the Closing, Buyer and its Affiliates, on behalf of the Company, may request for Seller to, on Buyer’s behalf, subject to the terms and conditions of the applicable policies, access, submit claims and seek coverage on any of Seller’s or its Affiliates’ occurrence-based (but not claims-made) insurance policies (including the Insurance Policies) covering the Company at the time of such event, circumstance or occurrence, and Seller and its Affiliates shall maintain or cause to be maintained all such insurance policies for such purposes and use commercially reasonable efforts to assist Buyer and its Affiliates in asserting any such claims and make the benefits of any such insurance policies available to Buyer and its Affiliates; provided, further, that Buyer shall be solely liable for, and Seller shall have no obligation to pay or reimburse Buyer or its Affiliates for, all deductibles, retentions and all uninsured, uncovered, unavailable or uncollectable amounts and all fees, costs or expenses incurred by Buyer, relating to or associated with such claims. Notwithstanding anything contained herein, (1) nothing in this Agreement shall limit, waive or abrogate in any manner any rights of Seller or its Affiliates to insurance coverage for any covered claims under its insurance policies, whether related to the Company or otherwise, and (2) Seller shall retain the exclusive right to control its insurance policies and programs, including the right to exhaust, settle, release, commute, buy-back or otherwise resolve disputes with respect to a...
Seller’s Insurance. Seller shall, at its sole expense, carry and maintain in full force and effect throughout the term of this Agreement insurance coverages, with insurance companies rated not less than A-, IX by A.M. Best or otherwise reasonably satisfactory to Buyer, of the following types and amounts:
(i) Pollution liability coverage for “sudden and accidental pollution” liability with a minimum limit of $[REDACTED] per occurrence.
(ii) All risk insurance covering full replacement cost of any Oil and Feedstock owned by Seller while stored in the Storage Facilities.
(iii) Cargo insurance on Oil and Feedstock while on board sea going vessels at [REDACTED]% of their full CIF value based on Institute Cargo Clauses (A) “All Risks.”
Seller’s Insurance. Seller shall, at its sole expense, carry and maintain in full force and effect throughout the term of this Agreement insurance coverages, with insurance companies rated not less than A-, IX by A.M. Best or otherwise reasonably satisfactory to Buyer, of the following types and amounts:
(i) Pollution liability coverage for “sudden and accidental pollution” liability with a minimum limit of $[REDACTED] per occurrence.
(ii) All risk insurance covering full replacement cost of any Oil owned by Seller while stored in the Storage Facilities.
(iii) Cargo insurance on Oil while on board sea going vessels at [REDACTED]% of their full CIF value based on Institute Cargo Clauses (A) “All Risks.”
Seller’s Insurance. Commencing on the date set forth on Schedule 7.2 with respect to each policy coverage and for the balance of the Term of this Agreement, Seller shall maintain at the policies and amounts of insurance as set forth in Schedule 7.2 with an insurance company or companies reasonably satisfactory to Buyer and qualified to do business in the State of Nevada and having a Best's rating not less than A-VII. Seller's costs of insurance shall be included in the computation of Buyer's payment obligation pursuant to Section 4.2 of this Agreement.
Seller’s Insurance. Until Closing, Seller agrees to continue to maintain insurance regarding the Property consistent with the insurance in place as of the Contract Date subject to any changes required by Seller’s insurance company if renewal occurs prior to the Closing Date; provided, however, that (a) Seller shall notify Buyer not less than five (5) days prior to the Inspection Date of any such changes that will take effect prior to the Closing Date, and (b) Seller agrees that no changes shall be made to Seller’s insurance that would reduce its insurance coverage for the Property between the Inspection Date and the Closing Date.