Operating Insurance definition
Examples of Operating Insurance in a sentence
Tenant agrees to pay its Pro Rata Share of that portion of all Casualty Insurance under Section 2.3e incurred or paid by Landlord in connection with the ownership and operation of the Building ("insurance") during each Adjustment Period which exceeds the amount of Base Operating Insurance subject to proration under Section 2.3.2 below.
When the policies or policy forms of Operating Insurance have been approved in writing by all of the Participants, said policies or policy forms shall not be modified or changed by any Participant without the prior written consent of all of the Participants, except for minor and insubstantial changes or modifications, as to which notification shall be given by the Operating Agent to the Participants.
Owner shall be responsible for obtaining, on such terms and conditions as Owner and its Financing Parties reasonably deem to be appropriate, "all-risk" property insurance (including "business interruption" coverage) for the Facility for the period commencing with the first to occur of Provisional Acceptance, Interim Acceptance and Final Acceptance (the "Operating Insurance"), and Owner shall use all reasonable efforts to obtain such insurance at the lowest available cost.
Operating Insurance referred to in Section 31.1.1 shall carry cross-liability coverage.
Any insurance carried by a Participant individually shall not participate with the Operating Insurance as respects any loss or claim for which valid and collectible Operating Insurance shall apply.
From the Commercial Operation Date until the Facility Purchase Date, Buyer shall pay Seller $50.00 per MWh for all Delivered Energy (including all Delivered Excess Energy and Delivered Guaranteed Generation) and shall make the Environmental Attributes Payment and reimburse Seller for all Taxes and Operating Insurance premiums as set forth in Appendix A.
If the Operating Agent or any Participant furnishes a policy of Operating Insurance which combines the coverage required by this Agreement with coverage outside the scope of that required by this Agreement, the Coordination Committee shall agree on the portion of the total premium cost which is allocable to Operating Insurance.
If the Project Manager or Operating Agent does so combine coverages, the Administrative Committee shall determine the portion of the total premium cost which is allocable to Construction Insurance or Operating Insurance.
Any overpayment or underpayment by Buyer of reimbursement amounts for such actual Taxes and Operating Insurance premiums paid by Seller will be reconciled through an adjustment to the invoice sent to Buyer in the month following the applicable year of payment.
All reimbursement payments received by the Project Company from SCPPA for Taxes and Operating Insurance premiums (as defined in the PPA) shall be deposited into the SCPPA Cost Reserve for application to the Taxes and Operating Insurance premiums for which they were received.