Operator’s Extra Expense/Well Control Coverage Sample Clauses

The Operator’s Extra Expense/Well Control Coverage clause provides insurance protection for costs incurred by the operator in the event of a well control incident, such as a blowout or uncontrolled flow of oil, gas, or other substances. This coverage typically reimburses the operator for expenses related to regaining control of the well, cleaning up pollution, and sometimes for redrilling or restoring the well to its original condition. Its core practical function is to mitigate the significant financial risks associated with well control incidents, ensuring that operators are not solely responsible for potentially catastrophic costs.
Operator’s Extra Expense/Well Control Coverage. Contractor shall maintain in force for the duration of this Contract Operator’s Extra Expense/Well Control coverage for all of the Facilities with minimum limits of not less than TEN MILLION UNITED STATES DOLLARS (US$10,000,000.00) per occurrence.
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Related to Operator’s Extra Expense/Well Control Coverage

  • All Coverages Each insurance policy required in this item shall be endorsed to state that coverage shall not be suspended, voided, cancelled, reduced in coverage or in limits except after thirty (30) days' prior written notice by certified mail, return receipt requested, has been given to the Town. Current certification of such insurance shall be kept on file at all times during the term of this agreement with the Town Clerk.

  • Default – Reprocurement Costs In case of Contract breach by Contractor, resulting in termination by the County, the County may procure the goods and/or services from other sources. If the cost for those goods and/or services is higher than under the terms of the existing Contract, Contractor will be responsible for paying the County the difference between the Contract cost and the price paid, and the County may deduct this cost from any unpaid balance due the Contractor. The price paid by the County shall be the prevailing market price at the time such purchase is made. This is in addition to any other remedies available under this Contract and under law.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • ADDITIONAL COVERAGES We cover the following in addition to the limits of liability: A. Claim Expenses 1. Expenses we incur and costs taxed against an "insured" in any suit we defend;

  • Tail Coverage If any of the required insurance is on a claims made basis and does not include an extended reporting period of at least 24 months, Grantee shall maintain either tail coverage or continuous claims made liability coverage, provided the effective date of the continuous claims made coverage is on or before the effective date of this Grant Agreement, for a minimum of 24 months following the later of (i) Grantee’s completion and Agency’s acceptance of all Services required under this Grant Agreement, or, (ii) Agency or Grantee termination of this Grant Agreement, or, iii) The expiration of all warranty periods provided under this Grant Agreement.