Self-Insurance, Etc Clause Samples

Self-Insurance, Etc. Notwithstanding the requirements of Section D6.1(a) hereof, it is agreed that (i) Operator may self-insure any of the above coverages to the extent that it is doing so on the Effective Date or to such greater extent as may be approved in writing by Owner and, with such terms and in such amounts, as a prudent company with the same debt rating as KeySpan Corporation would maintain with respect to similar properties and a similar business, and, in any event, will maintain insurance on all its property of a character usually insured by a company engaged in the same or a similar business similarly situated against loss or damage of the kinds and in the amounts customarily insured against by such companies, and carry or cause to be carried, with such insurers in customary amounts, such other insurance, including public liability insurance as is usually carried by companies engaged in the same or a similar business similarly situated; provided, however, that if at any time KeySpan Corporation's debt ratings fall below minimum investment grade as rated by both Standard and Poors and by ▇▇▇▇▇'▇, Operator shall not be permitted to self-insure pursuant to this Section D6.1(b) and shall fully comply with the requirements of Section D6.1(a) hereof within ninety (90) days, except to the extent that Owner has otherwise agreed in writing.