英语翻译
If the EP sub-contractor fails to effect and keep in force the insurances required hereof or any other insurance which may be required to effect under the terms of the EP sub-contract,then and in any such case the Contractor and/or PJ and/or the Ownermay,without prejudice to any other rights or remedies he may have,effect and keep in force any such insurance and pay such premium or premiums as may be necessary for that purpose and from time to time deduct the amount so paid by the Contractor and/or PJ and/orthe Owner as aforesaid from any monies due or which may become due to the EP sub-contractor or recover the same as a debt due from the EP sub-contractor.
It shall be the duty of the EP sub-contractor to notify the insurers of any of the insurances referred to in this Clause of any matter or event which by the terms of such insurances are required to be so notified and the EP sub-contractor shall indemnify and keep indemnified the Contractor,PJ and the Owner and the Independent Engineer against all losses,claims,demands,proceedings,costs,charges and expenses whatsoever arising out of or resulting from any default by the EP sub-contractor in complying with the requirements of this Article whether as a result of the avoidance of any such insurance or otherwise.
In all insurance policies,the cancellation of which,prior to the termination of the period during which they are to be in effect in accordance with the EP sub-contract,could result in any risk to the Contractor or PJ or the Owner or the Independent Engineer,specific clauses shall be incorporated enjoining the insured,the insurer,and any reinsurer from cancelling such policy without prior written notice by registered mail to the Contractor,PJ,the Owner and to the Independent Engineer,such notice to be received not less than thirty (30) calendar days prior to the cancellation.
If 60% or more of the value of the Facility is lost due to any one or more related events,as determined by an independent appraiser selected by the Independent Engineer then,at the Owner's sole and exclusive option,the proceeds of all insurance policies to be acquired and maintained pursuant to Section 13.1 (g) will be paid solely to the Owner and the Contractor may thereupon terminate this EP sub-contract without paying cancellation charges to the EP sub-contractor.
The EP sub-contractor has advised the Contractor and PJ and the Owner on the sufficiency of the foregoing insurance arrangements and it has arranged or assisted the Contractor and PJ and the Owner in the arrangement for each of the policies of insurance required under this Article 13.