Operational Property Damage Insurance Sample Clauses
The Operational Property Damage Insurance clause requires that insurance coverage be maintained to protect against physical loss or damage to property during the operational phase of a project or business. This insurance typically covers assets such as buildings, equipment, and inventory from risks like fire, theft, or natural disasters once operations have commenced. By mandating this coverage, the clause ensures that financial losses resulting from property damage are mitigated, thereby safeguarding the interests of both the property owner and any stakeholders involved.
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Operational Property Damage Insurance. On or prior to the Substantial Completion Date or the expiration of the Construction All Risks insurance, whichever comes first, property damage insurance on an “all risk” basis insuring the Companies and OPIC, as their interests may appear, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, boiler and machinery accidents, strike, riot, civil commotion sabotage and “terrorism”. For purposes of this clause “terrorism” shall be defined as any act of any person acting on behalf of or in connection with any organization with activities directed towards the overthrowing or influencing of any government de jure or de acto by force or violence.
Operational Property Damage Insurance. On or prior to Substantial Completion under the EPC Contract, property damage insurance on an “all risk” basis insuring the Owner, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, windstorm, boiler and machinery accidents, strike, riot, civil commotion and sabotage, but excluding terrorism.
Operational Property Damage Insurance. To the extent not covered by Builder’s Risk insurance under the EPC Contract, property damage insurance on an “all risk” basis (x) insuring Owner as the first named insured and (y) solely for the benefit of Owner and its subsidiaries, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, windstorm, boiler and machinery accidents, strike, riot, civil commotion, sabotage and terrorism, with a minimum limit for terrorism of $25,000,000. Any coverage required in this Section (5) may be satisfied by any combination of property, inland marine, ocean cargo or air cargo policies.
Operational Property Damage Insurance. To the extent ------------------------------------- applicable, property damage insurance on an "all risk" basis insuring the Lessee and the Lessor, as their interests may appear, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, and boiler and machinery accidents, and in form and substance reasonably satisfactory to the Lessor and its Insurance Consultant.
Operational Property Damage Insurance. To the extent not covered by Builder's Risk insurance under the EPC Contract, property damage insurance on an “all risk” basis (x) insuring Owner as the first named insured and (y) solely for the benefit of Cheniere Energy Partners, L.P. and its subsidiaries, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, windstorm, boiler and machinery accidents, strike, riot, civil commotion, sabotage and terrorism, with a minimum limit for terrorism of $25,000,000. Any coverage required in this Section (5) may be satisfied by any combination of property, inland marine, ocean cargo or air cargo policies.
Operational Property Damage Insurance. On or prior to the Substantial Completion Date or the expiration of the builder’s risk insurance required under the terms of the EPC Contractor, whichever comes first, property damage insurance on an “all risk” basis insuring the Borrower and Lenders, as their interests may appear, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, windstorm, boiler and machinery accidents, strike, riot, civil commotion and sabotage, but excluding terrorism.
Operational Property Damage Insurance. On or prior to the ------------------------------------- end of the Construction Period or the expiration of the builder's risk insurance, whichever comes first, property damage insurance on an "all risk" basis insuring the Lessee and the Lessor, as their interests may appear, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, and boiler and machinery accidents, and in form and substance reasonably satisfactory to the Lessor and its Insurance Consultant.
Operational Property Damage Insurance. On or before the Financial Completion Date, property damage insurance on an “all risk” basis, covering all insurable assets of the Project, insuring the Borrower and Finance Parties, as their interests may appear, including coverage against damage or loss caused by earth movement (including but not limited to earthquake, sabotage, landslide, subsidence and volcanic eruption), flood, windstorm, boiler and machinery accidents, strike, riot, civil commotion and “terrorism”. For purposes of this clause “terrorism” shall be defined as an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or governments(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear. Terrorism may be insured under a separate policy.