Project Insurance Change definition
Project Insurance Change means any net increase or net decrease in the Actual Relevant Insurance Cost relative to the Base Relevant Insurance Cost, arising from:
Project Insurance Change any net increase in the Actual Relevant
Project Insurance Change means any net increase (which shall be expressed as a positive number) or net decrease (which shall be expressed as a negative number) in the Actual Relevant Insurance Cost relative to the Base Relevant Insurance Cost, arising from:
More Definitions of Project Insurance Change
Project Insurance Change has the meaning given in Section 7.1(f) of Schedule 24 - Insurance and Performance Security Requirements.
Project Insurance Change means any net increase in the Relevant Insurance Cost relative to the cost of the relevant insurance at the Relevant Insurance Inception Date arising from:
Project Insurance Change any net increase or net decrease in the Actual Relevant Insurance Cost relative to the Base Relevant Insurance Cost, arising from:- (a) the claims history or re-rating of the Contractor or any Contractor Related Party; (b) the effect of any change in deductible unless the following applies:- (i) such change is attributable to circumstances generally prevailing in the Relevant Insurance Market; and (ii) the deductible, further to such change is either greater than or equal to the maximum in Schedule 12 (Insurance); (c) any other issue or factor other than circumstances generally prevailing in the Relevant Insurance Market, except for any Portfolio Cost Saving, for the purposes of determining the Insurance Cost Differential, in the event that there is a net increase, the Project Insurance Change shall have a positive value. In the event that there is a net decrease the Project Insurance Change shall have a negative value; “Protester Action” any picketing, demonstration, blockade, embargo or other protestor action (other than as a result of industrial action which affects only the employees of the Contractor or its Sub-Contractors) taking place at either Resource Park or directly affecting access to either Resource Park;
Project Insurance Change means any net increase or net decrease in the Actual Relevant Insurance Cost relative to the Base Relevant Insurance Cost, arising from: the claims history or re-rating of PPP Co. or PPP Co. Related Party; the effect of any change in deductible unless the following applies:- such change is attributable to circumstances generally prevailing in the Relevant Insurance Market; and the deductible, further to such change, is either greater than or equal to the maximum71 in Schedule 23 (Required Insurance Schedule);72 any other issue or factory other than circumstances generally prevailing in the Relevant Insurance Market, except for any Portfolio Cost Saving.73 For the purpose of determining the Insurance Cost Differential, in the event that there is a net increase, the Project Insurance Change will have a positive value. In the event that there is a net decrease the Project Insurance Change will have a negative value.