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and condition and in accordance with the requirements of all applicable laws and each <br />applicable Related Document. The Borrower shall at all times do or cause to be done all <br />things necessary to obtain, preserve, renew, extend and keep in full force and effect the <br />Governmental Approvals and any other rights, licenses, franchises, and authorizations <br />material to the conduct of its business. <br />(ii)The Borrower shall notify the WIFIA Lender eighteen (18) months <br />prior to the expiration of the Operation and Maintenance Contract, which notice shall <br />indicate the Borrower’s then-current plan for the performance of operations and <br />maintenance of the System following expiration of the Operation and Maintenance <br />Contract. The Borrower shall thereafter keep the WIFIA Lender regularly informed as to <br />(A) any change in its plan for the performance of such operations and maintenance and (B) <br />its progress toward the procurement of any replacement contract, including quarterly <br />reports concerning the conduct of any procurement, its negotiations with potential <br />contractors and any other information reasonably requested by the WIFIA Lender. <br />(iii)If the Borrower elects to self-perform any operations and <br />maintenance work in respect of the System within the scope of the Operation and <br />Maintenance Contract, the Borrower shall provide the WIFIA Lender with advance written <br />notice detailing its reasons for the change in its approach, along with its plan of self- <br />performance and supporting analysis from the Consulting Engineers. The Borrower shall, <br />at all times during the term of the WIFIA Loan, provide for the performance of operations <br />and maintenance of the System through the Operation and Maintenance Contract, a <br />replacement contract meeting the requirements of clause (iv) this Section 14(e), pursuant <br />to a plan of self-performance endorsed by the Consulting Engineers, or a combination of <br />both, in accordance with this Section 14(e). <br />(iv)Any contract entered into by the Borrower in replacement of the <br />Operation and Maintenance Contract shall be: (A) entered into with another counterparty <br />that (1) is of similar or greater creditworthiness (including credit support), technical <br />capability and relevant experience as the counterparty being replaced was at the time the <br />Operation and Maintenance Contract was originally executed (or otherwise reasonably <br />acceptable to the WIFIA Lender), (2) is not, at the time of such replacement, suspended or <br />debarred or subject to a proceeding to suspend or debar from bidding, proposing or <br />contracting with any federal or state department or agency, and (3) is not, at the time of <br />such replacement, in violation of any applicable laws; (B) on terms and conditions, <br />including scope of services, that have been endorsed in writing by the Consulting <br />Engineers; and (C) effective as of the date of termination of the Operation and Maintenance <br />Contract. <br />(f)Insurance. <br />(i)The Borrower shall at all times procure and maintain or cause to be <br />maintained insurance on the System and the construction of the Project, with responsible <br />insurers, or as part of a reasonable system of self-insurance that is adequately funded, in <br />such amounts and against such risks (including damage to or destruction of the System) as <br />are customarily maintained with respect to works and properties of like character against <br />37 <br /> <br />