Lapse of Insurance Sample Clauses

Lapse of Insurance. In the event Professional Services Consultant loses insurance coverage, Professional Services Consultant shall stop work and shall immediately notify Owner of such cancellation or other loss of insurance coverage. Owner shall withhold any future payments due to Professional Services Consultant until the matter is resolved. Owner reserves the right to pursue any legal action necessary to cover losses. If Professional Services Consultant procures replacement insurance in accordance with Contract Documents. Owner reserves the right to allow Professional Services Consultant to continue work. There shall be no time credit for days not worked pursuant to this section.
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Lapse of Insurance. In the event Construction Manager loses insurance coverage, Construction Manager shall cause all work on the project to stop and shall immediately notify Owner of such cancellation or other loss of insurance coverage. Owner shall withhold any future payments due to Construction Manager until the matter is resolved. Owner reserves the right to pursue any legal action necessary to cover losses. If Construction Manager procures replacement insurance in accordance with Contract Documents, Owner reserves the right to allow Construction Manager to continue work. There shall be no time credit for days not worked pursuant to this section.
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Lapse of Insurance. In the event the ESCO loses insurance coverage, the ESCO shall stop work and shall immediately notify University of such cancellation or other loss of insurance coverage. University shall withhold any future payments due to the ESCO until the matter is resolved. University reserves the right to pursue any legal action necessary to cover losses. If the ESCO procures replacement insurance in accordance with Contract Documents, University reserves the right to allow the ESCO to continue work. There shall be no time credit for days not worked pursuant to this section.
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Lapse of Insurance. If cover under the insurance policies lapses, is not renewed or is changed in a material way, Supplier must promptly notify Arm in writing.
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Lapse of Insurance. Any of the insurance coverages required pursuant to Section 6.8 lapse or expire without being replaced by other insurance policies that comply with such Section 6.8 prior to such lapse or expiration.
Sample 1
Lapse of Insurance. Should any required insurance lapse during the term of this Agreement, requests for payments originating after such lapse shall not be processed until the City receives satisfactory evidence of reinstated coverage as required by this Agreement, effective as of the lapse date. If insurance is not reinstated, the City may, at its sole option, terminate this Agreement effective on the date of such lapse of insurance.
Sample 1
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Lapse of Insurance. If the Subrecipient fails to maintain any of the insurance policies required under this Section, then the City will have the option to (i) declare a breach of this Agreement, (ii) purchase replacement insurance, or (iii) pay the premiums that are due on existing policies in order that they remain in effect. The Subrecipient is responsible for any expenses paid by the City to maintain or purchase the insurance required under this Section and the City may collect the same from the Subrecipient or deduct the amount paid from any sums due the Subrecipient under this Agreement.
Sample 1

Related to Lapse of Insurance

  • Purchase of Insurance No Mortgagor was required to purchase any credit life, disability, accident or health insurance product as a condition of obtaining the extension of credit. No Mortgagor obtained a prepaid single-premium credit life, disability, accident or health insurance policy in connection with the origination of the Mortgage Loan. No proceeds from any Mortgage Loan were used to purchase single premium credit insurance policies as part of the origination of, or as a condition to closing, such Mortgage Loan;

  • Evidence of Insurance Receipt by the Administrative Agent of copies of insurance policies or certificates of insurance of the Loan Parties evidencing liability and casualty insurance meeting the requirements set forth in the Loan Documents, including, but not limited to, naming the Administrative Agent as additional insured (in the case of liability insurance) or loss payee (in the case of hazard insurance) on behalf of the Lenders.

  • Minimum Scope of Insurance Coverage shall be at least as broad as:

  • Evidence of Insurance Cover All insurances obtained by the Concessionaire in accordance with this Article 32 shall be maintained with insurers on terms consistent with Good Industry Practice. Within 15 (fifteen) days of obtaining any insurance cover, the Concessionaire shall furnish to the Authority, notarised true copies of the certificate(s) of insurance, copies of insurance policies and premia payment receipts in respect of such insurance, and no such insurance shall be cancelled, modified, or allowed to expire or lapse until the expiration of at least 45 (forty five) days after notice of such proposed cancellation, modification or non-renewal has been delivered by the Concessionaire to the Authority.

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Maintenance of Insurance The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Form of insurance The form of the insurance shall be approved by the Director and the City Attorney; such approval (or lack thereof) shall never (a) excuse non-compliance with the terms of this Section, or (b) waive or estop the City from asserting its rights to terminate this Contract. The policy issuer shall (1) have a Certificate of Authority to transact insurance business in Texas, or (2) be an eligible non-admitted insurer in the State of Texas and have a Best's rating of at least B+, and a Best's Financial Size Category of Class VI or better, according to the most current Best's Key Rating Guide.

  • Certificate of Insurance Contractor must provide a Certificate of Insurance form to the City of Sparks to evidence the insurance policies and coverage required of Contractor.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall:

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