Insured exposure

51.3  Without prejudice to Clause 53 (Insurance), Project Co shall not be entitled to any payment which would not have been due under this Agreement but for Clause 51 (Excusing Causes) to the extent that Project Co is or should be able to recover under any policy of insurance required to be maintained by Project Co or any Project Co Party in accordance with this Agreement (whether or not such insurance has in fact been effected or, if effected, has been vitiated as a result of any act or omission of Project Co (or any Project Co Party), including but not limited to non-disclosure or under insurance) or any other policy of insurance which Project Co has taken out and maintained.