CO-VENTURERS Sample Clauses

CO-VENTURERS. It is understood and agreed that, subject to the provisions of Clause 7 of these General Conditions, this insurance may insure the interests of co-venturers (defined as co-owners, partners and/or other party(ies) having a financial and insurable interest in the xxxxx insured hereunder), all of whom individually and collectively are non-operators (all hereinafter referred to as "Co-Ventureres"), and provided the agreement to include such Co-Venturers is executed in writing between and/or among the parties prior to any occurrence giving rise to claim for reimbursement hereunder, Such Co-Venturers who comply with the above paragraph shall be deemed to be named as additional Assured hereunder only in respect of xxxxx insured here-under and only for the period(s) of time operations in respect of said xxxxx are insured hereunder as determined by Xxxxxx 16 of these General Conditions, Any cover granted hereunder to Co-Venturers shall be limited to operations in which a Co-Venturer has a common interest with the named Assured and shall be subject in all respects to the terms, conditions and rates and Combined Single Limit of Liability specified herein. If the named Assured is not the operator of a well, then this insurance shall not cover the operator without Underwriters' prior approval.
Sample 1
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