Common use of Failure to Insure Clause in Contracts

Failure to Insure. If at any time Lessee fails to maintain in full force and effect insurances in compliance with any provision of this Clause 14, Lessor and any Lender shall be entitled but not bound (without prejudice to any other rights that it may have or acquire under this Agreement by reason of such failure): (i) to pay any premiums due or to effect or maintain insurances in accordance with the provisions hereunder satisfactory to it or otherwise remedy such failure in such manner as it considers appropriate (including, without limitation to effect and maintain an “owner’s interest” policy), and Lessee shall promptly reimburse Lessor or Lender, as the case may be, together with interest thereon from the date of expenditure by it up to the date of reimbursement by Lessee; and/or (ii) at any time while such failure is continuing, to require the Aircraft to remain at any airport, or to proceed to and remain at any airport designated by it until such failure is remedied.

Failure to Insure. If at any time Lessee fails to maintain in full force and effect insurances in compliance with any provision of this Clause 14, Lessor and any Lender shall be entitled but not bound (without prejudice to any other rights that it may have or acquire under this Agreement by reason of such failure): (ia) to pay any the premiums due or to effect or and maintain insurances in accordance with the provisions hereunder satisfactory to it or otherwise remedy such Lessee’s failure in such manner as it considers appropriate (including, without limitation including to effect and maintain an “owner’s interest” policy), ) as it considers appropriate and any sums so expended by it will become immediately due and payable by Lessee shall promptly reimburse Lessor or Lender, as the case may beto Lessor, together with interest thereon from the date of expenditure by it up to the date of reimbursement by Lessee; and/orand (iib) at any time while such failure is continuing, to require the Aircraft to remain at any airport, airport or to proceed to and remain at any airport designated by it until such the failure is remediedremedied to its satisfaction.