Common use of Failure to Insure Clause in Contracts

Failure to Insure. Failure on the part of the Vendor or Subcontractor to procure or maintain policies providing the required coverages, conditions, and minimum limits shall constitute a material breach of Agreement upon which Xxxxxxxx may immediately terminate this Agreement, or at its discretion, Xxxxxxxx may procure, or renew any such policy, or any extended reporting period thereto, and may pay any and all premiums in connection therewith, and all monies so paid by Thornton shall be repaid by Vendor to Thornton upon demand, or Xxxxxxxx may offset the cost of the premiums against any monies due to Vendor from Thornton.

Failure to Insure. Failure on the part of the Vendor or Subcontractor to procure or maintain policies providing the required coverages, conditions, and minimum limits shall constitute a material breach of Agreement upon which Xxxxxxxx may immediately terminate this Agreement, or at its discretion, Xxxxxxxx may procure, or renew any such policy, or any extended reporting period thereto, and may pay any and all premiums in connection therewith, and all monies so paid by Thornton Xxxxxxxx shall be repaid by Vendor to Thornton Xxxxxxxx upon demand, or Xxxxxxxx may offset the cost of the premiums against any monies due to Vendor from Thornton.

Failure to Insure. Failure on the part of the Vendor or Subcontractor to procure or maintain policies providing the required coverages, conditions, and minimum limits shall constitute a material breach of Agreement upon which Xxxxxxxx Thornton may immediately terminate this Agreement, or at its discretion, Xxxxxxxx Thornton may procure, or renew any such policy, or any extended reporting period thereto, and may pay any and all premiums in connection therewith, and all monies so paid by Thornton shall be repaid by Vendor to Thornton upon demand, or Xxxxxxxx Thornton may offset the cost of the premiums against any monies due to Vendor from Thornton.

Failure to Insure. Failure on the part of the Vendor or Subcontractor subcontractor to procure or maintain policies providing the required coverages, conditions, and minimum limits shall constitute a material breach of Agreement upon which Xxxxxxxx may immediately terminate this Agreement, or at its discretion, Xxxxxxxx may procure, or renew any such policy, or any extended reporting period thereto, and may pay any and all premiums in connection therewith, and all monies so paid by Thornton shall be repaid by Vendor to Thornton upon demand, or Xxxxxxxx may offset the cost of the premiums against any monies due to Vendor from Thornton.