Common use of Liability and Casualty Insurance Clause in Contracts

Liability and Casualty Insurance. The Lessee shall, at its own cost and expense, procure and maintain, or cause to be procured and maintained, liability insurance and indemnification with respect to the Nuclear Material insuring and indemnifying the Lessor, the Owner Trustee, U.S. Trust, the Lessee, and the Secured Parties to the full extent required or available, whichever may be greater, under the Atomic Energy Act or under any other applicable law, rule or regulation. In the event the provisions of the Atomic Energy Act with respect to liability insurance and the indemnification of owners, licensees and operators of Nuclear Material or any other provisions of the Atomic Energy Act which benefit the Lessor, the Owner Trustee, U.S. Trust or the Secured Parties shall change, then the Lessee shall use its best efforts to obtain equivalent insurance and indemnification agreements from the Nuclear Regulatory Commission or from such other public and/or private sources from which such coverage is available. The Lessee shall also, at its own cost and expense, procure and maintain, or cause to be procured and maintained, physical damage insurance with respect to the Nuclear Material insuring the Lessor, the Owner Trustee, U.S. Trust and the Secured Parties against loss or damage to the Nuclear Material in a manner which is consistent at all times with current prudent utility industry practice in the United States; provided, however, that the Lessee shall in any event maintain physical damage insurance coverage for its Oyster Creek nuclear generating station site, including the Nuclear Material, in an amount not less than $1.11

Liability and Casualty Insurance. The Lessee shall, at its own cost and expense, procure and maintain, or cause to be procured and maintained, liability insurance and indemnification with respect to the Nuclear Material insuring and indemnifying the Lessor, the Owner Trustee, U.S. Trust, the Lessee, and the Secured Parties to the full extent required or available, whichever may be greater, under the Atomic Energy Act or under any other applicable law, rule or regulation. In the event the provisions of the Atomic Energy Act with respect to liability insurance and the indemnification of owners, licensees and operators of Nuclear Material or any other provisions of the Atomic Energy Act which benefit the Lessor, the Owner Trustee, U.S. Trust or the Secured Parties shall change, then the Lessee shall use its best efforts to obtain equivalent insurance and indemnification agreements from the Nuclear Regulatory Commission or from such other public and/or private sources from which such coverage is available. The Lessee shall also, at its own cost and expense, procure and maintain, or cause to be procured and maintained, physical damage insurance with respect to the Nuclear Material insuring the Lessor, the Owner Trustee, U.S. Trust and the Secured Parties against loss or damage to the Nuclear Material in a manner which is consistent at all times with current prudent utility industry practice in the United States; provided, however, that the Lessee shall in any event maintain physical damage insurance coverage for its Oyster Creek Three Mile Island Unit 1 nuclear generating station site, including the Nuclear Material, in an amount not less than $1.11