Common use of Right to Insure Clause in Contracts

Right to Insure. Should Operator fail to provide or maintain any of the insurance coverage required by Section 11.1 hereof, Owner shall have the right to provide or maintain such coverage at Owner’s expense. Should Owner fail to provide or maintain any of the insurance coverage required by Section 11.2 hereof, Operator shall have the right, but not the obligation, to provide or maintain such coverage on behalf of Owner and at Owner’s expense. The cost of any such insurance obtained by Operator in accordance with the preceding sentence shall be reimbursed or paid by Owner pursuant to Article V and shall not be included in the amount spent for purposes of determining, pursuant to Section 3.4, 5.1(b), 5.1(c) or 5.1(d) whether expenditures are more than 10% in excess of the aggregate amount of the Budget or the relevant Major Line Item, if applicable.

Right to Insure. Should Operator fail to provide or maintain any of the insurance coverage required by Section 11.1 hereof, Owner shall have the right to provide or maintain such coverage at Owner’s expense. Should Owner fail to provide or maintain any of the insurance coverage required by Section 11.2 hereof, Operator shall have the right, but not the obligation, to provide or maintain such coverage on behalf of Owner and at Owner’s expense. The cost of any such insurance obtained by Operator in accordance with the preceding sentence shall be reimbursed or paid by Owner pursuant to Article V and shall not be included in the amount spent for purposes of determining, pursuant to Section Sections 3.4, 5.1(b), 5.1(c) or 5.1(d) whether expenditures are more than 10% in excess of the aggregate amount of the Budget or the relevant Major Line Item, if applicable.