Common use of Insurance during Operation Period Clause in Contracts

Insurance during Operation Period. Not later than 60 days prior to the anticipated Completion of the Project, the Licensee shall obtain and maintain at no cost to Licensor during the Operations Period in respect of the Project and its operations, such insurance as may be required under any of the Applicable Laws and such insurance as the Licensee may reasonably consider necessary or desirable in accordance with Good Industry Practice. The Licensee shall procure that in each insurance policy, the Licensor shall be a co-insured. For the sake of brevity, the aggregate of the maximum sums insured under the insurance taken out by the Licensee pursuant to this Article 26 are herein referred to as the “Insurance Cover”.