Common use of Uninsurable Risks Becoming Insurable Clause in Contracts

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.14, 6.15, 6.16 and 6.18 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], Insurance] will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.146.11, 6.156.12, 6.16 6.13 and 6.18 6.15 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. ‌ Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], ] will forthwith take out, maintain and pay for for, or cause to be taken out, maintained and paid for for, insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.146.13 (Risks Becoming Uninsurable), 6.156.14 (Consequences of Risks Becoming Uninsurable), 6.16 6.15 (Third Party Liability Insurance as an Uninsurable Risk) and 6.18 6.17 (Continuing Attempts to Insure Uninsurable Risks) will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) any adjustment to the Service Payments will be adjusted payments otherwise made by the Authority to Project Co made pursuant to Section 10.3 (Adjustments 6.14(b) will cease to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Riskapply.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.13, 6.14, 6.15, 6.16 6.15 and 6.18 6.17 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments parties will agree upon an appropriate adjusting payment or payments to be adjusted paid pursuant to Section 10.3 10.1 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party Project Co becomes aware or is informed by the other party Authority that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], Project Co will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Project Agreement in respect of the risk, and in any case: (a) Sections 6.146.9, 6.15, 6.16 6.10 and 6.18 6.12 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Availability Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the casecase (or in the case of Project Co, is informed by the party responsible for obtaining Authority pursuant to the insurance under Schedule 5 [Insurance Requirements]Project Agreement), Operations Co will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Project Implementation Agreement in respect of the risk, and in any case: (a) Sections 6.146.9, 6.15, 6.16 6.10 and 6.18 6.12 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Operations Co Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably and the Authority or, failing such agreement, by the Dispute Resolution ProcedureProcedure under the Project Agreement, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Operations Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 13 [Insurance RequirementsInsurance], will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.147.13, 6.157.14, 6.16 7.15 and 6.18 7.17 of this Agreement will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) 11.3 of this Agreement by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.13, 6.14, 6.15, 6.16 6.15 and 6.18 6.17 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.14, 6.15, 6.16 and 6.18 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], Insurance] will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.14, 6.15, 6.16 and 6.18 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. ‌ Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], Insurance] will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.146.12, 6.156.13, 6.14 and 6.16 and 6.18 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. ‌ Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.14, 6.15, 6.16 and 6.18 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where a risk that was previously an Uninsurable Risk ceases to be so and either party becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], ] will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.14, 6.15, 6.16 and 6.18 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments will be adjusted pursuant to Section 10.3 (Adjustments to Service Payments) by agreement of the parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.

Uninsurable Risks Becoming Insurable. Where In the event that a risk that was previously an Uninsurable Risk ceases to be so and either party Project Co becomes aware or is informed by the other party that this is the case, the party responsible for obtaining the insurance under Schedule 5 [Insurance Requirements], Project Co will forthwith take out, maintain and pay for or cause to be taken out, maintained and paid for insurance in accordance with the requirements of this Agreement in respect of the risk, and in any case: (a) Sections 6.146.11, 6.156.12, 6.16 6.13 and 6.18 6.15 will no longer apply to the risk so long as it is not an Uninsurable Risk; and (b) the Service Payments Monthly Payment will be adjusted pursuant to Section 10.3 (Adjustments to Service PaymentsMonthly Payment) by agreement of the parties Parties acting reasonably or, failing such agreement, by the Dispute Resolution Procedure, from the date upon which the Uninsurable Risk became insurable, to reflect any increase in Project Co’s insurance cost as a result of having to insure the risk that ceased to be an Uninsurable Risk.