Common use of Insurance Obtained by Operator Clause in Contracts

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract and applicable laws, rules and regulations. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt notice to that effect to Operator; (2) does nothing which may interfere with Operator’s negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers.

Insurance Obtained by Operator. (A) Operator shall procure and maintain maintain, or cause to be procured and maintained maintained, for the Joint Project Account all insurance in the types and amounts required by the Contract Lease Agreement and applicable laws, rules and regulations. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee Government may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt notice to that effect to Operator;, (2) does nothing which may interfere with Operator’s negotiations for such insurance for the other Parties; , and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee Operator may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call or other valuable consideration including any cash remuneration call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Project Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests, if applicable. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued;, (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties; , and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all sub-contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such sub-contractors to name the Parties as additional insureds on such sub-contractors’ insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators Operator and their insurers.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract and applicable laws, rules and regulationsLaws / Regulations. (B) Operator shall obtain such procure and maintain any further insurance, at competitive reasonable rates, as the Operating Committee may from time to time require. In the event that such further insurance is, in Operator’s reasonable opinion, unavailable or available only at an unreasonable cost, Operator shall promptly notify the Non-Operators in order to allow the Operating Committee to reconsider such further insurance. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt notice to that effect to Operator; (2) does nothing which may interfere with Operator’s negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in with respect of to all insurance obtained pursuant to under this Article 4.7: (1) use reasonable endeavors to procure or cause to be procured such insurance prior to or concurrent with, the commencement of relevant operations and maintain or cause to be maintained such insurance during the term of the relevant operations or any longer term required under the Laws / Regulations; (2) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (23) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the PartiesParties but only with respect to their interests under this Agreement; (4) use reasonable endeavors to ensure that each policy shall survive the default or bankruptcy of the insured for claims arising out of an event before such default or bankruptcy and that all rights of the insured shall revert to the Parties not in default or bankruptcy; and (35) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (FH) Operator shall use its reasonable efforts endeavors to require all contractors performing work in with respect of to Joint Operations to to: (1) obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations the Laws / Regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to Committee; (2) name the Parties as additional insureds on such contractors’ the contractor’s insurance policies or to and obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers; and (3) provide Operator with certificates reflecting such insurance prior to the commencement of their services.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract Concession and applicable laws, rules and regulations. (B) Operator shall obtain for the Joint Account such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt written notice to that effect to Operator; (2) does nothing which may interfere with Operator’s 's negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient West ▇▇▇▇▇▇ ▇▇▇ 20F evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B4.7(B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call call, including any cash call in respect of damages and losses and/or the costs of remedying the same same, in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other PartiesParties and the Operator, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7Article: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds insurers on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ ' insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers.

Insurance Obtained by Operator. (A) Operator shall procure and maintain maintain, or cause to be procured and maintained maintained, for the Joint Account Accounts all insurance in the types and amounts required by the Contract and applicable lawsApplicable Law; if Operator is unable to do so, rules Operator shall promptly advise the Operating Committee, and regulationsthereupon Operator's liability to obtain such insurance shall be suspended as to such specific insurance as to which its inability relates. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the coverage and the cost of any insurance to be procured under Article Section 4.7(B) provided such Party: (1) gives Gives prompt written notice to that effect to Operator; (2) does Does nothing which may interfere with Operator’s 's negotiations for such insurance for the other Parties; and (3) obtains Obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (BSection 4.7(B), and which the Operating Committee may determine to be determines is acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call Cash Call including any cash call Cash Call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers insurers, but only in respect of their interests under this Agreement, and shall be primary as respects any other insurance providing coverage to the other Parties, the Operator and their insurers. Such waiver of subrogation shall be in favor of any contractor or subcontractor in respect of which Operator has waived rights of recourse on behalf of itself and/or the Parties with respect to Joint Operations; such waivers of subrogation shall extend to the benefit of the contractors and/or of the subcontractors so protected; or in the absence of such insurance such Party hereby releases and indemnifies all the other Parties from any claims or loss and damage that would have been covered by such insurance, including those within deductibles applying to such insurance with respect to Joint Operations. (D) The cost of insurance for Joint Operations in which all the Parties are participating shall be for the Joint Account Account, and the cost of insurance in which less than all the Parties are participating pursuant to Section 4.7(C) shall be charged to the Parties participating in proportion equal to their respective a fraction, the numerator of which is such Party's Participating InterestsInterest and the denominator of which is the sum of the Participating Interests of the Parties that are participating in such insurance. (E) Operator shall, in respect of all insurance obtained pursuant to this Article Section 4.7: (1) promptly Promptly inform the participating Parties when such insurance is obtained and upon request supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange Arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties and shall be primary as respects any other insurance providing coverage to the Parties; and shall be in favor of any contractor or subcontractor in favor of whom the Operator in its capacity of Operator shall have waived rights or recourse; such waivers of subrogation shall extend to the benefit of the insurers of the Parties and/or of the contractors and/or subcontractors so protected; and (3) duly Duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance pertaining to such work in the types and amounts required by any applicable lawsApplicable Law, rules and regulations contract or any decision directive of the Operating Committee Committee, and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ contractor's insurance policies or to obtain from their insurers waivers of all rights of recourse against the Parties. (G) Each Party may, for its own account and at its own expense, obtain such additional insurance pertaining to Joint Operations and the Contract as it may deem advisable; provided however, that the obtaining of such additional insurance shall not interfere with Operator, Non-Operators and their insurers's placement of insurance in accordance with the terms of this Section 4.7.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract and applicable laws, rules and regulations. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt written notice to that effect to Operator; (2) does nothing which may interfere with Operator’s 's negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other PartiesParties and the Operator, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7Article: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ contractor's insurance policies or to obtain from their insurers waivers of all rights of or recourse against Operator, Operator and Non-Operators and their insurersOperators.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract and applicable laws, rules and regulations. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt notice to that effect to Operator; (2) does nothing which may interfere with Operator’s negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Non- Operators and their insurers.

Insurance Obtained by Operator. (A) Operator shall procure and maintain maintain, or cause to be procured and maintained maintained, for the Joint Account Accounts all insurance in the types and amounts required by the Contract and applicable lawsApplicable Law; if Operator is unable to do so, rules Operator shall promptly advise the Operating Committee, and regulationsthereupon Operator's liability to obtain such insurance shall be suspended as to such specific insurance as to which its inability relates. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the coverage and the cost of any insurance to be procured under Article Section 4.7(B) provided such Party: (1) gives Gives prompt written notice to that effect to Operator; (2) does Does nothing which may interfere with Operator’s 's negotiations for such insurance for the other Parties; and (3) obtains Obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (BSection 4.7(B), and which the Operating Committee may determine to be determines is acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call Cash Call including any cash call Cash Call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers insurers, but only in respect of their interests under this Agreement, and shall be primary as respects any other insurance providing coverage to the other Parties, the Operator and their insurers. Such waiver of subrogation shall be in favor of any contractor or subcontractor in respect of which Operator has waived rights of recourse on behalf of itself and/or the Parties with respect to Joint Operations; such waivers of subrogation shall extend to the benefit of the contractors and/or of the subcontractors so protected; or in the absence of such insurance such Party hereby releases and indemnifies all the other Parties from any claims or loss and damage that would have been covered by such insurance, including those within deductibles applying to such insurance with respect to Joint Operations. (D) The cost of insurance for Joint Operations in which all the Parties are participating shall be for the Joint Account Account, and the cost of insurance in which less than all the Parties are participating pursuant to Section 4.7(C) shall be charged to the Parties participating in proportion equal to their respective a fraction, the numerator of which is such Party's Participating InterestsInterest and the denominator of which is the sum of the Participating Interests of the Parties that are participating in such insurance. (E) Operator shall, in respect of all insurance obtained pursuant to this Article Section 4.7: (1) promptly Promptly inform the participating Parties when such insurance is obtained and upon request supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange Arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties and shall be primary as respects any other insurance providing coverage to the Parties; and shall be in favor of any contractor or subcontractor in favor of whom the Operator in its capacity of Operator shall have waived rights or recourse; such waivers of subrogation shall extend to the benefit of the insurers of the Parties and/or of the contractors and/or subcontractors so protected; and (3) duly Duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance pertaining to such work in the types and amounts required by any applicable lawsApplicable Law, rules and regulations contract or any decision directive of the Operating Committee Committee, and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ contractor's insurance policies or to obtain from their insurers waivers of all rights of recourse against the Parties. (G) Each Party may, for its own account and at its own expense, obtain such additional insurance pertaining to Joint Operations and the Contract as it maydeem advisable; provided however, that the obtaining of such additional insurance shall not interfere with Operator, Non-Operators and their insurers's placement of insurance in accordance with the terms of this Section 4.7.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract Concession and applicable laws, rules and regulations. (B) Operator shall obtain for the Joint Account such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt written notice to that effect to Operator; (2) does nothing which may interfere with Operator’s 's negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B4.7(B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call call, including any cash call in respect of damages and losses and/or the costs of remedying the same same, in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other PartiesParties and the Operator, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7article: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds insurers on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ ' insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and an maintained for the Joint Account all insurance in the types and amounts required by the Contract and applicable laws, rules and regulations. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt notice to that effect to Operator; (2) does nothing which may interfere with Operator’s negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract Concession Agreement and applicable laws, rules and regulations.regulations and as provided in Exhibit B. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B4.8(B) provided such Party: (1) gives prompt notice to that effect to Operator; (2) does nothing which may interfere with Operator’s 's negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B4.8(B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Parties, the Operator and their insurers but only in respect of their interests under this Agreement and the Concession Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7:4.8: Alliance Operating Agreement - 20F (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all a11 such contractors to name the Parties as additional insureds on such contractors’ ' insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers.

Insurance Obtained by Operator. (Aa) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract and applicable laws, rules and regulationsregulations and any other insurance at competitive rates as may be approved by the Operations Management Board. (Bb) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee Operations Management Board may from time to time require. (Cc) Any Party may elect not to participate in the insurance to be procured under Article 4.7(BClause 4.7 (b) provided such Party: (1i) gives prompt notice to that effect to Operator; (2ii) does nothing which may interfere with Operator’s negotiations for such insurance for the other Parties; and (3iii) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article Clause 4.7 (Bb), and which the Operating Committee Operations Management Board may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor favour of all the other Parties, the Operator and their insurers but only in respect of their interests under this Agreement. (Dd) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (Ee) Operator shall, in respect of all insurance obtained pursuant to this Article Clause 4.7: (1i) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2ii) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor favour of all the Parties; and (3iii) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (Ff) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee Operations Management Board and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ insurance policies or to obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance in the types and amounts required by the Contract and applicable laws, rules and regulations. Operator shall give non-Operators notice of the insurances required to give them the opportunity to use their own policies, if possible. (B) Operator shall obtain such further insurance, at competitive rates, as the Operating Committee may from time to time require. (C) Any Party may elect not to participate in the insurance to be procured under Article 4.7(B) provided such Party: (1) gives prompt written notice to that effect to Operator; (2) does nothing which may interfere with Operator’s 's negotiations for such insurance for the other Parties; and (3) obtains and maintains such insurance (in respect of which an annual certificate of adequate coverage from a reputable insurer insurance broker shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other PartiesParties and the Operator, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in respect of all insurance obtained pursuant to this Article 4.7Article: (1) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (2) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the Parties; and (3) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (F) Operator shall use its reasonable efforts to require all contractors performing work in respect of Joint Operations to obtain and maintain any and all insurance in the types and amounts required by any applicable laws, rules and regulations or any decision of the Operating Committee and shall use its reasonable efforts to require all such contractors to name the Parties as additional insureds on such contractors’ contractor's insurance policies or to obtain from their insurers waivers of all rights of or recourse against Operator, Operator and Non-Operators and their insurersOperators.

Insurance Obtained by Operator. (A) Operator shall procure and maintain or cause to be procured and maintained for the Joint Account all insurance (at a minimum) in the types and amounts required by the Contract and applicable laws, rules and regulationsor the Laws / Regulations. (B) Operator shall obtain such procure and maintain any further insurance, at competitive reasonable rates, as the Operating Committee may from time to time require. In the event that such further insurance is, in Operator’s reasonable opinion, unavailable or available only at an unreasonable cost, Operator shall promptly notify the Non-Operators in order to allow the Operating Committee to reconsider such further insurance. (C) Any Party may elect not to participate in the The cost of insurance to shall be procured under Article 4.7(B) provided such Party: (1) gives prompt notice to that effect to Operator; (2) does nothing which may interfere with Operator’s negotiations for such insurance for the other Parties; and (3) obtains and maintains such Joint Account. The cost of insurance (in with respect of which to an annual certificate of adequate coverage from a reputable insurer Exclusive Operation shall be sufficient evidence) or other evidence of financial responsibility which fully covers its Participating Interest share of charged to the risks that would be covered by the insurance procured under Article 4.7 (B), and which the Operating Committee may determine to be acceptable. No such determination of acceptability shall in any way absolve a non-participating Party from its obligation to meet each cash call including any cash call in respect of damages and losses and/or the costs of remedying the same in accordance with the terms of this Agreement. If such Party obtains other insurance, such insurance shall contain a waiver of subrogation in favor of all the other Consenting Parties, the Operator and their insurers but only in respect of their interests under this Agreement. (D) The cost of insurance in which all the Parties are participating shall be for the Joint Account and the cost of insurance in which less than all the Parties are participating shall be charged to the Parties participating in proportion to their respective Participating Interests. (E) Operator shall, in with respect of to all insurance obtained pursuant to under this Article 4.7: (1) use reasonable endeavors to procure or cause to be procured such insurance prior to or concurrent with, the commencement of relevant operations and maintain or cause to be maintained such insurance during the term of the relevant operations or any longer term required under the Contract or the Laws / Regulations; (2) promptly inform the participating Parties when such insurance is obtained and supply them with certificates of insurance or copies of the relevant policies when the same are issued; (23) arrange for the participating Parties, according to their respective Participating Interests, to be named as co-insureds on the relevant policies with waivers of subrogation in favor of all the PartiesParties but only with respect to their interests under this Agreement; (4) use reasonable endeavors to ensure that each policy shall survive the default or bankruptcy of the insured for claims arising out of an event before such default or bankruptcy and that all rights of the insured shall revert to the Parties not in default or bankruptcy; and (35) duly file all claims and take all necessary and proper steps to collect any proceeds and credit any proceeds to the participating Parties in proportion to their respective Participating Interests. (FE) Operator shall use its reasonable efforts endeavors to require all contractors performing work in with respect of to Joint Operations to to: (1) obtain and maintain any and all insurance in the types and amounts required by any applicable lawsthe Contract, rules and regulations the Laws / Regulations or any decision direction of the Operating Committee and shall use its reasonable efforts to require all such contractors to Operator consistent with this Agreement; (2) name the Parties as additional insureds on such contractors’ the contractor’s insurance policies or to and obtain from their insurers waivers of all rights of recourse against Operator, Non-Operators and their insurers; and (3) provide Operator with certificates reflecting such insurance prior to the commencement of their services.