Common use of Collection & Handling Clause in Contracts

Collection & Handling. 9.3.1 The Operator shall be liable for the loss of any revenue collected by it or its agents or servants whether by fraud, misappropriation, theft, accident, event of Force Majeure or any other event or circumstance whatsoever. 9.3.2 The Operator shall put in place, prior to the receipt of any of the revenue, security measures necessary for handling, deposit and protection of revenue from loss, theft or destruction. Notwithstanding such security measures, a. all money being held by the Operator shall at all times be insured against loss due to but no limited to theft, loss, fire and natural disasters, and b. the Operator shall remain liable for timely payment of Annual O&M Fee to the Authority in accordance with the terms of this Agreement.