Common use of Insurances required Clause in Contracts

Insurances required. 13.1.1 MORILA shall, at its own cost and expense obtain and maintain, or cause to be obtained and maintained from the date of this Agreement the policies of insurance, the minimum requirements of which are set out in Exhibit 5, in the amounts specified and during the period or periods mentioned in Exhibit 5. Mopps shall be named as one of a number of insureds with a severable interest on any such insurance procured by MORILA. 13.1.2 MORILA shall be free at any time to increase the amounts of cover above the amounts therein specified, but MORILA shall not reduce such amounts without the prior written consent of Mopps. 13.1.3 MORILA shall not be in breach of its obligations hereunder if and to the extent that any particular insurance is unavailable to it under commercially reasonable terms except where such non-availability shall be due to the act or neglect of MORILA. 13.1.4 If and to the extent an Insurable Event ceases to be insurable at reasonable commercial terms then the Parties shall meet to discuss methods of addressing the issue and unless the reason for the insurance no longer being so available shall arise out of the act or neglect of MORILA then until insurance shall be so available at commercial terms the previously Insurable Event shall be deemed to be a Non-Insurable Event.

Insurances required. 13.1.1 MORILA SOMISY shall, at its own cost and expense obtain and maintain, or cause to be obtained and maintained maintained, from the date of this Agreement the policies of insurance, the minimum requirements of which are set out in Exhibit 5, 5 in the amounts specified and during the period or periods mentioned in Exhibit 5. Mopps Sypps shall be named as one of a number of insureds with a severable interest on any such insurance procured by MORILASOMISY. 13.1.2 MORILA SOMISY shall be free at any time to increase the amounts of cover above the amounts therein specified, but MORILA SOMISY shall not reduce such amounts without the prior written consent of MoppsSypps. 13.1.3 MORILA SOMISY shall not be in breach of its obligations hereunder if and to the extent that any particular insurance is unavailable to it under commercially reasonable terms except where such non-availability shall be due to the act or neglect of MORILASOMISY. 13.1.4 If and to the extent an Insurable Event ceases to be insurable at reasonable commercial terms then the Parties shall meet to discuss methods of addressing the issue and unless the reason for the insurance no longer being so available shall arise out of the act or neglect of MORILA SOMISY then until insurance shall be so available at commercial terms the previously Insurable Event shall be deemed to be a Non-Insurable Event.