Failure to Maintain Required Insurance. If at any time during the term of this Agreement Sellers fails to maintain any required insurance, PGE may, at its sole discretion, either suspend the Work or Services or terminate this Agreement.
Failure to Maintain Required Insurance. If Consultant, for any reason, fails to have in place at all times during the term of this Agreement all of the required insurance coverage, the City may, but is not obligated to, obtain such coverage at Consultant’s expense and deduct the cost from the sums due Consultant. Alternatively, City may terminate the Agreement.
Failure to Maintain Required Insurance. If Lender determines at any time during the term of the Loan that any required insurance is not in force or that the policy is in an amount less than required by Lender and Borrower fails to purchase the required insurance or correct any deficiencies within forty-five (45) days after written notice of the deficiency, Lender may purchase the required insurance on Borrower’s behalf and charge Borrower the cost of the premiums and fees incurred in purchasing the insurance. If Lender decides to purchase or replace insurance on Borrower’s behalf and Lender or one of Lender’s related entities sells the required insurance, the replacement insurance may be purchased by Lender from Lender or Lender’s related entity. Such lender-placed coverage may be substantially more expensive than a policy obtained by Borrower, may not cover Borrower as an insured, may not cover Borrower’s equity, and may not provide the same scope of coverage as a policy obtained by Borrower. Lender or one of Lender’s affiliates may be paid a commission for placement of the lender-placed coverage, if applicable.
Failure to Maintain Required Insurance. Any failure to maintain the required insurance shall be sufficient cause for the City to terminate this Agreement, the Commercial Cannabis Permit, and the CUP, and Company agrees to the same. Subject to authorization by the King City Municipal Code, prior to terminating this Agreement, the Commercial Cannabis Permit, and/or the CUP for failure to maintain the required insurance, the City may provide Company with written notice of its intent to terminate unless the City receives proof Company obtained the required insurance within seven (7) days from the date upon the notice. If Company fails to timely provide proof of the required insurance, Company shall immediately cease all business activity, including but not limited to cultivation, harvesting, manufacturing, transporting and/or delivering cannabis or cannabis products. Failure to immediately cease all business activity shall subject Company to the penalties, enforcement and cost recovery provisions established within the King City Municipal Code.
Failure to Maintain Required Insurance. Should Lessee at any time fail to provide or maintain in force any of the insurance required herein above, the Lessor may but shall not be required to obtain said insurance, and the cost thereof shall be Lessee's responsibility to repay as additional rental in the month the costs are paid by the Lessor. If any coverage required hereby cannot be obtained for any reason, the Lessor may require Lessee to immediately cease operations until the required coverage is obtained; and if the said coverage cannot be obtained within a reasonable time as determined by the Lessor, the Lessor may terminate this Agreement. It is intended hereby that the Lessee shall at all times be insured against the risks to which it is exposed as the operator of the business authorized by this Agreement and shall be fully covered by said policies of insurance.
Failure to Maintain Required Insurance. Any failure to maintain the required insurance shall be sufficient cause for the City to terminate this Agreement, the Commercial Cannabis Permit, and any related Development Agreement, and Company agrees to the same. Subject to authorization by the XxXxxxxxx Municipal Code, prior to terminating this Agreement, the Commercial Cannabis Permit, the and/or any related Development Agreement for failure to maintain the required insurance, the City may provide Company with written notice of its intent to terminate unless the City receives proof Company obtained the required insurance within seven (7) days from the date upon the notice. If Company fails to timely provide proof of the required insurance, Company shall immediately cease all business activity, including but not limited to cultivation, harvesting, manufacturing, transporting and/or delivering cannabis or cannabis products. Failure to immediately cease all business activity shall subject Company to the penalties, enforcement and cost recovery provisions established within the XxXxxxxxx Municipal Code.
Failure to Maintain Required Insurance. Failure to acquire, maintain and submit evidence of insurance policies as required by Section 11;
Failure to Maintain Required Insurance. If Consultant, for any reason, fails to have in place at all times during the term of this Agreement all of the required insurance coverage, the VCTC may, but is not obligated to, obtain such coverage at Consultant’s expense and deduct the cost from the sums due Consultant. Alternatively, VCTC may terminate the Agreement.
Failure to Maintain Required Insurance. If Contractor, for any reason, fails to have in place at all times during the term of this Contract all of the required insurance coverage, District may obtain such coverage at Contractor’s expense and deduct the cost from the sums due Contractor.
Failure to Maintain Required Insurance. If Lender determines at any time during the term of the Loan that any required insurance is not in force or that the policy is in an amount less than required by Lender and Borrower fails to purchase the required insurance or correct any deficiencies within forty-five (45) days after written notice of the deficiency, Lender may purchase the required insurance on Borrower’s behalf and charge Borrower the cost of the premiums and fees incurred in purchasing the insurance. If Lender decides to purchase or replace insurance on Borrower’s behalf and Lender or one of Lender’s related entities sells the required insurance, the replacement insurance may be purchased by Lender from Lender or Lender’s related entity. Such lender-placed coverage may be substantially more expensive than a policy obtained by Borrower, may not cover Borrower as an insured, may not cover Borrower’s equity, and may not provide the same scope of coverage as a policy obtained by Borrower. Lender or one of Lender’s affiliates may be paid a commission for placement of the lender-placed coverage, if applicable. DAMAGE OR DESTRUCTION; APPLICATION OF INSURANCE PROCEEDS. Subject to any different arrangement that may apply as a consequence of a subordination, nondisturbance, and attornment agreement between Lender, the owner of the Real Property, and any tenant occupying all or an portion of the Real Property, if any of the Real Property is damaged or destroyed by casualty of any nature before the Indebtedness is paid in full and Borrower is no longer entitled to obtain Advances, then Borrower shall use funds other than Construction Funds to restore the Real Property promptly to the condition in which it was before such damage or destruction occurred. Lender shall not be obligated to resume the Disbursement of Construction Funds until such restoration has been accomplished. The Security Instruments may contain provisions that permit Lender, at its option, to receive and retain any insurance proceeds payable with respect to any loss or damage to the Real Property and to apply the insurance proceeds to the reduction of Indebtedness, the payment of any lien affecting the Real Property, or the restoration and repair of the Real Property. In the administration of this Loan, Lender agrees that, provided the insurance proceeds are paid to Lender and all of the following conditions are continuously met, the insurance proceeds shall be deposited in a special escrow account under Lender’s exclusive control ...
