Replacement Insurance. In the event Group fails to procure, maintain or pay for any insurance policy required under this Article, Hospital shall have the right, but not the obligation, to procure, maintain or pay for such insurance policy. In such event, Group shall reimburse Hospital for the cost thereof not more than ten (10) days after Hospital’s written request to Group.
Replacement Insurance. Buyer agrees to obtain or cause to be obtained as of the Closing replacement insurance arrangements (“Replacement Insurance”) for the Company providing replacement coverage equivalent to the existing coverage maintained by or on behalf of the Company as of the Effective Date or, if such replacement coverage cannot be obtained on a commercially reasonable basis, replacement coverage that is as close to equivalent to the existing coverage as can be obtained on a commercially reasonable basis.
Replacement Insurance. (a) Buyer shall pay at Closing an amount equal to the Buyer's Percentage times the cost of the liability insurance policy obtained by Seller pursuant to Section 5.03(c) of the 3M Agreement.
Replacement Insurance. If, during the period when an insurer is providing insurance required by this Charter, an insurer shall fail to comply with the foregoing minimum requirements, the School shall, as soon as it has knowledge of any such failure, immediately notify the Sponsor and immediately replace the insurance with new insurance from an insurer meeting the requirements.
Replacement Insurance. In the event Manager fails to procure, maintain or pay for any insurance policy required under this Article, Hospital shall have the right, but not the obligation, to procure, maintain or pay for such insurance policy. In such event, Manager shall reimburse Hospital for the cost thereof not more than ten (10) days after Hospital’s written request to Manager.
Replacement Insurance. In the event Practitioner fails to procure, maintain or pay for any insurance policy required under this Article, Hospital shall have the right, but not the obligation, to procure, maintain or pay for such insurance policy. In such event, Practitioner shall reimburse Hospital for the cost thereof not more than ten (10) days after Hospital’s written request to Practitioner.
Replacement Insurance. If either Party fails to provide or maintain any insurance required hereunder, the other Party shall have the right, but not the obligation, to provide or maintain any such insurance and to deduct the cost thereof from any amounts due and payable to the first Party. In the event there are no such amounts due and payable, the Party failing to provide or maintain the required insurance shall reimburse the other Party for such costs on demand. Should any of the policies required to be maintained become unavailable or be canceled for any reason during the period of this Agreement, the Party required to provide or maintain such insurance shall immediately procure replacement coverage.
Replacement Insurance. If the Utility at any time during the Term fails to obtain and maintain all or any part of the insurance coverage that the Utility is required to obtain and maintain pursuant to this Agreement, then the County may (but shall not be obligated to) obtain and maintain such insurance coverage as was required to be maintained by the Utility (and to the extent reasonably possible, such coverage shall be obtained on the same terms and conditions, including amounts, deductibles and term of coverage, as was required to be maintained by the Utility) and the Utility shall pay to the County, within thirty (30) days of receiving an invoice, such amounts as the County has reasonably incurred in order to obtain and maintain such insurance. DRAFT
Replacement Insurance. In the event the Property Owner fails to maintain insurance as required by this Agreement, the City in its sole discretion may after seven (7) days’ notice to the Property Owner, obtain such insurance in whole or in part. If the City obtains such insurance, the Property Owner shall reimburse the City for the cost of that insurance within fifteen (15) days of receiving written notice to do so from the City.
Replacement Insurance. In the event the Contractor breaches any provision of this Article, the County in its sole discretion may procure and maintain, at the Contractor’s sole expense, insurance to the extent the County deems proper; provided, however, that the County shall be required to give the Contractor at least thirty calendar days prior written notice of its intent to acquire replacement insurance and an opportunity to cure such breach. In the event the County obtains such insurance, the Contractor shall reimburse the County for the cost of that insurance within fifteen days of receiving written notice from the County to do so or, in the County’s sole discretion, the County may reduce the Base Fee due the Contractor in accordance with Section 8.3.
