Operating Period Insurance. 20 SECTION 4.14. INFORMATION .................................................. 21 (A) Information System ...................................... 21 (B) Computer Database ....................................... 21 (C) Ownership of Information and Documentation .............. 21 SECTION 4.15. MANAGER'S REPORTING REQUIREMENTS ............................. 21 (A) Monthly Reports ......................................... 21 (B) Semi-Annual Reports ..................................... 22 (C)
Operating Period Insurance. Commencing with the Closing Date and continuing throughout the remainder of the Term of this Agreement, the Manager shall obtain and maintain, the Required Operating Period Insurance as specified in Appendix 4 hereto and shall comply with all applicable Insurance Requirements. The Manager shall name the Authority, its trustees, officers and employees as additional insureds or named insureds, as appropriate, on its insurance policies, which policies shall require 30 days prior written notice to the Authority prior to any change in or cancellation of such policies. Insurance coverage required pursuant to this Section shall be maintained with generally recognized financially responsible insurers reasonably acceptable to the Authority and qualified and authorized to insure risks in the State. The cost of the Required Operating Period Insurance shall be paid by the Manager, subject to reimbursement by the Authority pursuant to Section 6.1 hereof as a Third Party Cost. The Manager shall demonstrate to the Authority, by a bidding process or other acceptable methods, that the premiums payable for the Required Operating Period Insurance constitute a fair and reasonable price for the coverage provided. The Authority shall have the right, upon 90 days' notice to the Manager, at any time at its expense to cancel or replace and obtain independently all or any portion of the Required Operating Period Insurance as set forth in Appendix 4 hereto.
Operating Period Insurance. Throughout the Term of this Agreement, the Manager shall obtain and maintain insurance policies with respect to the Scope of Services, with the types and amounts of coverage and deductible amounts in effect on the Contract Date as specified in Appendix 4 hereto (the "Required Operating Period Insurance") to the extent that such insurance remains available on commercially reasonable terms. If, as a result of material changes in the market for insurance products, one or more Required Operating Period Insurance policies is or are not generally available or available only on terms not considered to be commercially reasonable, the Manager will so notify LIPA. If such insurance is not generally available, LIPA shall be entitled to an equitable adjustment in the Minimum Compensation for the Scope of Services as provided in Section 6.1 hereof. If such insurance is available, but only at a cost that Manager considers to be commercially unreasonable, Manager will advise LIPA of such cost. If, after consultation, the parties are unable to agree on whether the Manager should procure such insurance at such additional cost, LIPA may either obtain such insurance at its own cost or determine to forego such insurance coverage. In either event, LIPA will be entitled to an equitable reduction in the Minimum Compensation for the Scope of Services. In determining whether one or more Required Operating Period Insurance policies is or are not available on commercially reasonable terms, the Manager will consistently apply standards associated with the operations of its Affiliates, specifically its regulated gas utility Affiliates, as well as apply Prudent Utility Practice and Prevalent Utility Services. The Manager shall name LIPA, the Authority, and their respective trustees, directors, officers and employees as additional insureds or named insureds, as appropriate, on its insurance policies, which policies shall require thirty (30) days, prior written notice to LIPA prior to any change in or cancellation of such policies. Insurance coverage required pursuant to this Section shall be maintained with generally recognized financially responsible insurers reasonably acceptable to LIPA and qualified and authorized to insure risks in the State. LIPA shall have the right, upon ninety (90) days' notice to the Manager, at any time at its expense to cancel or replace and obtain independently all or any portion of the Required Operating Period Insurance, in which case LIPA shall be entitl...
Operating Period Insurance
