Common use of Damages and Losses Clause in Contracts

Damages and Losses. All costs or expenses, necessary to replace or repair damages or losses incurred by fire, flood, storm, theft, accident or any other cause not controllable by CONTRACTOR or Operating Company through the exercise of reasonable diligence. CONTRACTOR or Operating Company shall furnish EGPC and CONTRACTOR written notice of damages or losses incurred in excess of ten thousand ($10,000) U.S. Dollars per occurrence, as soon as practicable after report of the same has been received by CONTRACTOR or Operating Company.

Damages and Losses. All costs or expenses, necessary to replace or repair damages or losses incurred by fire, flood, storm, theft, accident or any other cause not controllable by CONTRACTOR or Operating Company through the exercise of reasonable diligence. CONTRACTOR or Operating Company shall furnish EGPC and CONTRACTOR written notice of damages or losses incurred in excess of ten thousand U.S. Dollars ($10,000) U.S. Dollars per occurrence, as soon as practicable after report of the same has been received by CONTRACTOR or Operating Company.