Failure to Procure Coverage Sample Clauses
The "Failure to Procure Coverage" clause defines the responsibilities and consequences if a party does not obtain the required insurance or coverage specified in an agreement. Typically, this clause applies when one party is obligated to secure certain types of insurance, such as liability or property coverage, and fails to do so within the agreed timeframe. In such cases, the other party may have the right to obtain the necessary coverage themselves and recover the costs, or may be entitled to other remedies. The core function of this clause is to ensure that all parties are adequately protected against risks and to provide a clear course of action if insurance requirements are not met.
Failure to Procure Coverage. In the event that any policy of insurance required under this contract does not comply with the requirements, is not procured, or is canceled and not replaced, the County has the right but not the obligation or duty to cancel the contract or obtain insurance if it deems necessary and any premiums paid by the County will be promptly reimbursed by the Contractor or County payments to the Contractor will be reduced to pay for County purchased insurance.
Failure to Procure Coverage. In the event that any policy of insurance required under this Agreement does not comply with the requirements, is not procured, or is canceled and not replaced, COUNTY has the right but not the obligation or duty to terminate the Agreement. Maintenance of required insurance coverage is a material element of the Agreement and failure to maintain or renew such coverage or to provide evidence of renewal may be treated by COUNTY as a material breach of contract.
Failure to Procure Coverage. In the event that any policy of insurance required under this Agreement does not comply with the requirements, is not procured, or is canceled and not replaced, SBCAG has the right but not the obligation or duty to terminate the Agreement. Maintenance of required insurance coverage is a material element of the Agreement and failure to maintain or renew such coverage or to provide evidence of renewal may be treated by SBCAG as a material breach of contract.
Failure to Procure Coverage. In the event that any policy of insurance required under this Contract does not comply with the requirements, is not procured, or is canceled and not replaced, the Commission has the right but not the obligation or duty to cancel the Contract or obtain insurance if it deems necessary and any premiums paid by the Commission will be promptly reimbursed by the Contractor or Commission payments to the Contractor will be reduced to pay for Commission purchased insurance.
Failure to Procure Coverage. In the event that any policy of insurance required under the agreement does not comply with the requirements, is not procured, or is canceled and not replaced, the County has the right but not the obligation or duty to cancel the agreement or obtain insurance if it deems necessary and any premiums paid by the County will be promptly reimbursed by the School or County payments to the School will be reduced to pay for County purchased insurance.
Failure to Procure Coverage. In the event that any policy of insurance required under this Agreement does not comply with the requirements, is not procured, or is canceled and not replaced, Customer has the right but not the obligation or duty to cancel the Agreement or obtain insurance if it deems necessary and any premiums paid by Customer will be promptly reimbursed by Optum or Customer payments to Optum will be reduced to pay for Customer purchased insurance.
Failure to Procure Coverage. In the event that any policy of insurance required under this contract does not comply with the requirements, is not procured, or is canceled and not replaced, CalACES has the right but not the obligation or duty to cancel the contract or obtain insurance if it deems necessary and any premiums paid by CalACES will be promptly reimbursed by the VENDOR or CalACES payments to the VENDOR(s)/Applicant(s) will be reduced to pay for CalACES purchased insurance. Insurance requirements are subject to periodic review by CalACES. The Director of Risk Management or designee is authorized, but not required, to reduce, waive or suspend any insurance requirements whenever Risk Management determines that any of the required insurance is not available, is unreasonably priced, or is not needed to protect the interest of CalACES. In addition, if the Department of Risk Management determines that heretofore unreasonably priced or unavailable types of insurance coverage or coverage limits become reasonably priced or available, the Director of Risk Management or designee is authorized, but not required, to change the above insurance requirements to require additional types of insurance coverage or higher coverage limits, provided that any such change is reasonable in light of past claims against CalACES, inflation, or any other item reasonably related to CalACES’ risk. Any change requiring additional types of insurance coverage or higher coverage limits must be made by amendment to this contract. VENDOR agrees to execute any such amendment within thirty (30) days of receipt. Any failure, actual or alleged, on the part of CalACES to monitor or enforce compliance with any of the insurance and indemnification requirements will not be deemed as a waiver of any rights on the part of CalACES.
Failure to Procure Coverage. In the event that any policy of insurance required under this CONTRACT does not comply with the requirements, is not procured, or is canceled and not replaced, ICEMA has the right but not the obligation or duty to cancel the CONTRACT or obtain insurance if it deems necessary and any premiums paid by ICEMA will be promptly reimbursed by HOSPITAL or County payments to HOSPITAL will be reduced to pay for ICEMA purchased insurance.
Failure to Procure Coverage. All insurance required must be maintained in force at all times by LANDLORD. In the event that any policy of insurance required under the Lease does not comply with the requirements, is not procured, or is canceled and not replaced, COUNTY has the right but not the obligation or duty to cancel the Lease or obtain insurance if it deems necessary and any premiums paid by COUNTY will be promptly reimbursed by LANDLORD or COUNTY payments to LANDLORD will be reduced to pay for COUNTY purchased insurance.
Failure to Procure Coverage. In the event that any policy of insurance required under this Agreement does not comply with the requirements, is not procured, or is canceled and not replaced, DISTRICT has the right but not the obligation or duty to cancel the Agreement or obtain insurance if it deems necessary and any premiums paid by DISTRICT will be promptly reimbursed by OWNER or DISTRICT payments to OWNER will be reduced to pay for DISTRICT purchased insurance. Proof of Coverage Insurance Review