Insurance Program for Operating Period Sample Clauses
The 'Insurance Program for Operating Period' clause establishes the requirement for maintaining specific insurance coverage during the operational phase of a project or agreement. It typically outlines the types and minimum amounts of insurance—such as general liability, property, or professional indemnity—that must be held by the operating party, and may specify conditions like naming the other party as an additional insured or providing proof of coverage. This clause ensures that adequate financial protection is in place to cover potential losses, liabilities, or damages that may arise during ongoing operations, thereby allocating risk and safeguarding both parties' interests.
Insurance Program for Operating Period. The Loan Servicer has received, in form and substance satisfactory to DOE, (x) an Insurance Advisor’s Certificate, and (y) an Insurance Consultant’s Certificate (A) describing in reasonable detail the Borrower’s insurance program with respect to the Operating Period (including without limitation with respect to any new insurance since the date of the final Advance, copies of certificates or policies with respect thereto, designating the Administrative Agent in its capacity as the Collateral Agent as loss payee, as appropriate, all certified by the Borrower as being true and complete), and (B) certifying that it has reviewed and analyzed such insurance program and that in its opinion such insurance program satisfies all the requirements of Schedule 6.3(b).
Insurance Program for Operating Period. The Loan Servicer shall have received, in form and substance satisfactory to DOE, an Insurance Advisor’s Certificate (A) describing in reasonable detail the Borrower’s insurance program with respect to the Operating Period (including without limitation with respect to any new insurance since the date of the final Advance, copies of certificates or policies with respect thereto designating the Collateral Agent as loss payee, as appropriate, all certified by the Borrower as being true and complete), and (B) certifying that it has reviewed and analyzed such insurance program and that in its opinion such insurance program satisfies all the requirements of Schedule 6.3(b).