Common use of Obligation to Obtain Clause in Contracts

Obligation to Obtain. The Parties each agree to obtain and maintain insurance of the types, in the amounts, and otherwise in accordance with the provisions of this Article X. The Parties agree to coordinate their insurance acquisition efforts with respect to the Cogen Facility, the Services to be provided and the requirements of any Lender under any Financing Documents to avoid duplication of coverage, minimize premiums and ensure that the amounts payable under the policies required hereunder are not reduced by the existence of additional policies not required hereunder. The Parties further agree to provide all information required by any of the Parties in carrying out the requirements of this Article X, including copies of all Cogen Facility Contracts and documents which relate to the purchase and maintenance of insurance coverage on the Cogen Facility and/or of Owner and Operator. All insurance policies shall also contain any other provisions necessary to comply with the requirements of the Cogen Facility Contracts and with any other written requirements of the Owner. In the event that either Owner or Operator cannot obtain and maintain insurance of the types, and in the amounts, required under this Article X on commercially reasonable terms, then Owner and Operator shall, in good faith, attempt to reach agreement as to different types and amounts of coverages and/or allocation of risk, which may include self-insurance by either Party.