Common use of Failure to Obtain Insurance Clause in Contracts

Failure to Obtain Insurance. If LRC fails to obtain any insurance or to provide confirmation of any such insurance as required by this Lease, BNPPLC will be entitled (but not required) to obtain the insurance that LRC has failed to obtain or for which LRC has not provided the required confirmation and, without limiting BNPPLC’s other remedies under the circumstances, BNPPLC may require LRC to reimburse BNPPLC for the cost of such insurance and to pay interest thereon computed at the Default Rate from the date such cost was paid by BNPPLC until the date of reimbursement by LRC.

Appears in 4 contracts

Samples: Lease Agreement (Lam Research Corp), Participation Agreement (Lam Research Corp), Lease Agreement (Lam Research Corp)

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Failure to Obtain Insurance. If LRC fails to obtain any insurance or to provide confirmation of any such insurance as required by this Lease, BNPPLC will be entitled (but not required) to obtain the insurance that LRC has failed to obtain or for which LRC has not provided the required confirmation and, without limiting BNPPLC’s other remedies under the Lease Agreement (Fremont/Building #2) — Page 22 circumstances, BNPPLC may require LRC to reimburse BNPPLC for the cost of such insurance and to pay interest thereon computed at the Default Rate from the date such cost was paid by BNPPLC until the date of reimbursement by LRC.

Appears in 1 contract

Samples: Lease Agreement (Lam Research Corp)

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Failure to Obtain Insurance. If LRC fails to obtain any insurance or to provide confirmation of any such insurance as required by this Lease, BNPPLC will be entitled (but not required) to obtain the insurance that LRC has failed to obtain or for which LRC has not provided the required confirmation and, without limiting BNPPLC’s other remedies under the circumstances, BNPPLC may require LRC to reimburse BNPPLC for the cost of such insurance and to pay interest thereon computed at the Default Rate from the date such cost was paid by Lease Agreement (Livermore/Parcel 6) — Page 23 BNPPLC until the date of reimbursement by LRC.

Appears in 1 contract

Samples: Participation Agreement (Lam Research Corp)

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