Common use of Contractor’s Insurances Clause in Contracts

Contractor’s Insurances. 7.1 The CONTRACTOR shall take out and maintain appropriate first class insurance with respect to its liabilities assumed and indemnities given under the CONTRACT and as specifically required in SECTION 3 hereof. All such policies shall contain waivers of rights of subrogation against the OPERATOR, its CO-VENTURERS, AFFILIATES and the SERVICE COMPANIES. The CONTRACTOR shall give the OPERATOR thirty days written notice of any proposed material change in any policy. 7.2 The CONTRACTOR shall extend to the OPERATOR, its CO-VENTURERS and the SERVICE COMPANIES the benefit of any Hull and Machinery insurance cover, which may exist under the CONTRACTOR'S insurance provisions. 7.3 If the CONTRACTOR shall fail to effect and keep in force any of the Insurances referred to herein, then the OPERATOR may effect and keep the same in force and pay such premium as may be necessary for that purpose and from time to time deduct the amount so paid by the OPERATOR as aforesaid from any monies due or which may become due to the CONTRACTOR or recover the same as a debt due from the CONTRACTOR. 7.4 CONTRACTOR shall require its SUB-CONTRACTORS to obtain, maintain and keep in force during the time in which they are engaged in performing any work

Contractor’s Insurances. 7.1 The CONTRACTOR shall take out and maintain appropriate first class insurance with respect to its liabilities assumed and indemnities given under the CONTRACT and as specifically required in SECTION 3 hereof. All such policies shall contain waivers of rights of subrogation against the OPERATOR, its CO-VENTURERS, AFFILIATES and the SERVICE COMPANIES. The CONTRACTOR shall give the OPERATOR thirty days written notice of any proposed material change in any policy. 7.2 The CONTRACTOR shall extend to the OPERATOR, its CO-VENTURERS and the SERVICE COMPANIES the benefit of any Hull and Machinery insurance cover, which may exist under the CONTRACTOR'S insurance provisions. 7.3 If the CONTRACTOR shall fail to effect and keep in force any of the Insurances referred to herein, then the OPERATOR may effect and keep the same in force and pay such premium as may be necessary for that purpose and from time to time deduct the amount so paid by the OPERATOR as aforesaid from any monies due or which may become due to the CONTRACTOR or recover the same as a debt due from the CONTRACTOR. 7.4 CONTRACTOR shall require its SUB-CONTRACTORS to obtain, maintain and keep in force during the time in which they are engaged in performing any workwork hereunder, insurance coverage acceptable to CONTRACTOR and furnish CONTRACTOR acceptable evidence of such insurance. CONTRACTOR shall require all insurance policies carried by the SUB-CONTRACTOR to contained endorsements waiving insurer's rights of subrogation against the OPERATOR, its CO-VENTURERS, AFFILIATES and the SERVICE COMPANIES.