Common use of O&M Costs Clause in Contracts

O&M Costs. In June of 2020 and in January of each subsequent year, HASP shall present the Operating Committee with the estimated annual O&M Costs and each Parties’, except Park County’s, pro rata portion of such costs for that calendar year for approval. Upon approval, which shall not be unreasonably withheld, the Parties, except Park County, shall deposit into the Account their pro rata portion of O&M Costs. The annual O&M Costs shall include, but not be limited to the Insurance Costs required by the License described in Section 7 of EXHIBIT B and the Administration Costs described in ¶ 6 EXHIBIT E. Any party that may hold an insurance policy that covers repair or replacement of the Gage agrees to dedicate any proceeds from a claim involving the Gage to the repair or replacement of the Gage.