Common use of Seller’s Insurance Coverages Clause in Contracts

Seller’s Insurance Coverages. Seller’s nominated vessel shall, at its sole expense including the expense of deductibles, premiums, calls and policy charges, procure and maintain the following insurances for the duration of this Contract: (a) Cargo insurance, which is to remain in force during the period of time from the moment the Biodiesel is loaded onto Seller’s nominated vessel at the loading port until title to and risk of loss of the Biodiesel passes to Hawaiian Electric in accordance with Section 11.1. Such insurance shall cover all of the risks covered under a standard Lloyd’s Maritime Insurance policy, including all the denominated “Institute Cargo Clauses” (Free of Particular Average, F.P.A. and clauses referring to wars, strikes, riots and civil disturbances), (b) Marine and War Risk Hull & Machinery coverage (including 4/4ths Collision Liability) subject to an Amount Insured not less than the full value of the vessel. (c) Full form Protection & Indemnity Insurance, including Excess Collision, pollution/ environmental risk coverage, upon the vessel pursuant to a standard Protection & Indemnity Club entry, with a Club which is a member of the International Group of Protection and Indemnity Clubs, with minimum limits for pollution/environmental risks to be $ 1,000,000,000 per occurrence or the maximum commercially available, whichever is greater (d) Standard Workers Compensation and Employers Liability Insurance endorsed to be applicable to the state of Hawaii as well as the Xxxxxxxxx Act, with statutory limits for workers compensation and limits of $5,000,000 per occurrence for employers liability.

Seller’s Insurance Coverages. Seller’s nominated vessel shall, at its sole expense including the expense of deductibles, premiums, calls and policy charges, procure and maintain the following insurances for the duration of this Contract: (a) Cargo insurance, which is to remain in force during the period of time from the moment the Biodiesel is loaded onto Seller’s nominated vessel at the loading port until title to and risk of loss of the Biodiesel passes to Hawaiian Electric in accordance with Section 11.1. Such insurance shall cover all of the risks covered under a standard Lloyd’s Maritime Insurance policy, including all the denominated “Institute Cargo Clauses” (Free of Particular Average, F.P.A. and clauses referring to wars, strikes, riots and civil disturbances), (b) Marine and War Risk Hull & Machinery coverage (including 4/4ths Collision Liability) subject to an Amount Insured not less than the full value of the vessel. (c) Full form Protection & Indemnity Insurance, including crew liability, Excess Collision, pollution/ environmental risk coverage, upon the vessel pursuant to a standard Protection & Indemnity Club entry, with a Club which is a member of the International Group of Protection and Indemnity Clubs, with minimum limits for pollution/environmental risks to be $ 1,000,000,000 ONE BILLION DOLLARS ($1,000,000,000) per occurrence or the maximum commercially available, whichever is greater (d) Standard Workers Compensation and Employers Liability Insurance endorsed to be applicable to the state State of Hawaii Hawaiʻi as well as the Xxxxxxxxx Longshoremen’s and Harbor Workers’ Act, with statutory limits for workers compensation and limits of ONE MILLION DOLLARS ($5,000,000 1,000,000) per occurrence for employers liability. (e) Automobile Liability Insurance on all owned, non-owned and hired vehicles used in conjunction with the Delivery of Biodiesel to Hawaiian Electric with a bodily injury and property damage combined single limit per occurrence of at least FIVE MILLION DOLLARS ($5,000,000), including coverage for pollution liability. (f) Commercial General Liability Insurance with a bodily injury and property damage combined single limit of liability of at least FIVE MILLION DOLLARS ($5,000,000) per occurrence and FIVE MILLION DOLLARS ($5,000,000) aggregate. Such insurance will include coverage in like amount for products/completed operations, contractual liability, and personal and advertising injury. “Claims made” policies are not acceptable.

Seller’s Insurance Coverages. Seller’s nominated vessel shall, at its sole expense including the expense of deductibles, premiums, calls and policy charges, procure and maintain the following insurances for the duration of this Contract: (a) Cargo insurance, which is to remain in force during the period of time from the moment the Biodiesel Biofuel is loaded onto Seller’s nominated vessel at the loading port until title to and risk of loss of the Biodiesel Biofuel passes to Hawaiian Electric HECO in accordance with Section 11.1. Such insurance shall cover all of the risks covered under a standard Lloyd’s Maritime Insurance policy, including all the denominated “Institute Cargo Clauses” (Free of Particular Average, F.P.A. and clauses referring to wars, strikes, riots and civil disturbances), (b) Marine and War Risk Hull & Machinery coverage (including 4/4ths Collision Liability) subject to an Amount Insured not less than the full value of the vessel. (c) Full form Protection & Indemnity Insurance, including Excess Collision, pollution/ environmental risk coverage, upon the vessel pursuant to a standard Protection & Indemnity Club entry, with a Club which is a member of the International Group of Protection and Indemnity Clubs, with minimum limits for pollution/environmental risks to be $ 1,000,000,000 per occurrence or the maximum commercially available, whichever is greater (d) Standard Workers Compensation and Employers Liability Insurance endorsed to be applicable to the state of Hawaii as well as the Xxxxxxxxx Act, with statutory limits for workers compensation and limits of $5,000,000 per occurrence for employers liability.