Common use of Failure to Obtain Insurance Clause in Contracts

Failure to Obtain Insurance. If the Contractor fails to take out and/or maintain in effect the applicable insurances required under this Contract, the Authority may take out and maintain in effect any such insurances and may from time to time deduct from any amount due to the Contractor under the Contract towards the premium of such insurances, or may otherwise recover such amount as a debt due from the Contractor and the Contract Price shall be adjusted accordingly.