Common use of Authority's Right to Terminate, Modify, or Not Procure Clause in Contracts

Authority's Right to Terminate, Modify, or Not Procure. Any insurance procured by the Authority is solely for the Authority's benefit and is not intended to replace or supplement any insurance coverage which otherwise would have been maintained by the company or by any of its contractors, subcontractors, consultants, or sub-consultants at each tier. Authority is not obligated to procure any insurance pursuant to these requirements and retains the right, at its sole discretion, to terminate or modify any such insurance which might be procured by the Authority pursuant to this Standard Procedure. STANDARD PROCEDURE Number: S250.06 Effective: 05/31/02 Aviation Authority Revised: 03/04/20 Page: 11 of 11 Subject: CONTRACTUAL INSURANCE TERMS AND CONDITIONS APPROVED: Xxxxxxx Xxxxxxxx DATE: 03/04/20