Common use of All Risk Property Insurance Clause in Contracts

All Risk Property Insurance. With no gap in cover during the transition from the construction all risk insurance to the all risk property insurance, the Owner shall procure and maintain all risk property insurance covering direct physical loss or damage to the Plant, including but not limited to fire and extended coverage, collapse, flood, earth movement and comprehensive boiler and machinery coverage (including electrical malfunction and mechanical breakdown). Such insurance coverage shall be written on a full replacement cost basis or limits equal to one hundred twenty five percent (125%) of the results of a Probable Maximum Loss study , waiving any coinsurance penalty, and shall include the following sublimits: