Common use of Umbrella or Excess Clause in Contracts

Umbrella or Excess. Umbrella or excess liability insurance of not less than $20,000,000 per occurrence and $20,000,000 in the annual aggregate following the Placed in Service date of each Project (inclusive of the requirements and limits in Sections 1.1(c), (d) and (e)). Such coverage shall be on a per occurrence or claims made basis and over and above coverage provided by the policies described in Sections 1.1(c), (d) and (e) with respect to employer’s liability. If the policy or policies provided under this Section 1.1(f) contain(s) aggregate limits, and such limits are reduced by more than $10,000,000 during the applicable policy term by any one or more incidents, occurrences, claims, settlements or judgments against such insurance which has caused the insurer to establish a reserve, the Service Provider shall, within (10) Business Days after obtaining knowledge of such event inform Lessor and Lessee, and within thirty (30) Business Days thereafter, purchase an additional umbrella/excess liability insurance policy satisfying the requirements of this Section 1.1(f), unless waived by Lessor in consultation with its insurance consultant. Deductibles in excess of $10,000 shall be subject to review and approval by Lessor in consultation with its insurance consultant. [***] Confidential treatment has been requested for bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.