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2022 Resolutions
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2022 Resolutions
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12/15/2022 3:40:17 PM
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1/27/2022 11:14:35 AM
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E. Pollution Liability Insurance. Portsmouth shall maintain during the life of this Agreement <br />Pollution Liability Insurance in the amount of One Million Dollars ($1,000,000) for each <br />occurrence. Coverage shall be provided for bodily injury and property damage resulting <br />from pollutants which are discharged suddenly and accidentally. Such insurance shall also <br />provide coverage for cleanup costs. <br />F. Umbrella Excess Coverage. The insurance coverages and amounts set forth in this Section <br />may be met by an umbrella excess liability policy following the form of the underlying <br />primary coverage in an amount of Five Million Dollars ($5,000,000). Portsmouth may use <br />any combination of primary and excess to meet required total limits. <br />G. Portsmouth shall, prior to commencing construction pursuant to this Agreement or within <br />ten (10) days after the granting of the franchise contemplated by this Agreement, whichever <br />is sooner, shall furnish Chesapeake a memorandum certificate or certificates of insurance, <br />showing the type, amount, effective dates and date of expiration of the policies, and <br />thereafter prior to the expiration of any such policy. Such certificate or certificates and <br />evidence of insurance shall include Chesapeake, its officers, agents, and employees as <br />additional insureds. In addition to being a named additional insured on the certificate of <br />insurance, evidence of insurance will require the insurance carrier(s) for Commercial <br />General Liability and Umbrella Excess Coverage to provide written endorsements that <br />Chesapeake is a named additional insured. Portsmouth shall obtain a written obligation on <br />the part of each insurance company to notify Portsmouth at least thirty (30) days before <br />cancellation or a material change of any such insurance. Upon receipt of such notice from <br />Portsmouth's insurance company, Portsmouth will immediately notify Chesapeake of any <br />of the required coverages that are not replaced. All such insurance shall be subject to the <br />review and approval of Chesapeake's Risk Manager for compliance with the stated <br />requirements. <br />H. Maintenance. The liability insurance policies required herein shall be maintained by <br />Portsmouth throughout the Term and such other period of time during which Portsmouth <br />operates or is engaged in the removal of Equipment. Each such certificate of liability <br />insurance shall contain the following endorsement: "It is hereby understood and agreed <br />that this policy may not be canceled nor the intention not to renew be stated until ninety <br />(90) days after receipt by Chesapeake, by registered mail, of a written notice of such intent <br />to cancel or not to renew." Within sixty (60) days after receipt by Chesapeake of said <br />notice, and in no event later than thirty (30) days prior to said cancellation, Portsmouth <br />shall obtain and furnish to Chesapeake replacement certificates of insurance in a form <br />reasonably acceptable to Chesapeake. <br />I. Increased Insurance Coverage. In the event of any changed circumstances following the <br />Effective Date, Chesapeake, may alter the minimum face amount of the liability insurance <br />policy or policies required herein. <br />
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