| OCR Text |
Show XIn. CONTRIBUTION PROTECTION With regard to claims for contribution against Kennecott for matters addressed in this Order, the parties hereto agree that Kennecott is entitled to protection from contribution 70. actions or claims to the extent provided by section 113(f)(2) and 122(h)(4) ofCERCL 42 U.S.C. §§ 9613(t)(2) and 9622(h)( 4). Nothing in this Order precludes the United States or Kennecott from asserting any claims, causes of action or demands against any persons not parties to this Order for indemnification, contribution, or cost recovery. XIV. INDEMNIFICA nON 71. Kennecott agrees to indemnify, save and hold harmless EPA and DEQ, their officials, agents, contractors, subcontractors, employees and representatives from any and all claims or causes of action: (A) arising from, or on account of, acts or omissions of Kennecott, Kennecott's officers, directors, employees, agents, contractors, subcontractors, receivers, trustees, successors or assigns, in carrying out activities pursuant to this Order; and (B) for damages or reimbursement arising from or on account of any contract, agreement, or arrangement between Kennecott, and any persons for performance of Work on or relating to the Site, including claims on account of construction delays. XV. 72. FINANCIAL ASSURANCE AND SELF INSURANCE Kennecott has provided EPA with a financial statement certified by Kennecott's chief financial officer which indicates that Kennecott meets or exceeds the following financial parameters: a) net working capital of$40 million; b) tangible net worth of$250 million; and c) assets located in the United States amounting to 75% of its total assets or $250 million. For purposes of this Order, "tangible net worth" is defined as net worth minus goodwill, patents, trademarks, copyrights, non-compete agreements and royalty and price participation rights. EPA agrees that the financial statement submitted by Kennecott in support hereof is confidential business information and shall be given the full protection provided by 40 C.F.R. Part Two, Subpart B. Kennecott agrees to provide updated information on its financial status within 45 days of any written request from' EP A or in the event of a change in circumstances that causes Kennecott to fail to meet the above criteria. 73. Kennecott has provided EPA with certifying documentation that ensures that Kennecott has comprehensive general and automobile liability insurance coverage with limits up to three million dollars, combined single limit and shall continue to provide yearly updates on such cover3:ge. Kennecott shall maintain such coverage for the duration of this Order. Kennecott agrees to provide updated information on its insurance coverage within 45 days of any written request from EPA. Kennecott shall notify EPA 30 days prior to the cessation of such coverage.' 17 |
