Common use of Failure to Obtain Insurance Clause in Contracts

Failure to Obtain Insurance. Where, other than due to the act or omission of ZH, any of the insurances required to be effected in accordance with this Clause 11 (Insurance) cease to be available on commercially reasonable terms (or at all), within seven (7) Days of becoming aware that such policy will no longer be available on commercially reasonable terms (or at all), ZH shall inform SeaWorld and the Parties shall, in good faith, seek to agree the means by which the relevant risk should be managed (including alternative levels of cover, self-insurance and/or amendment to this Agreement) so as to try and keep the Parties in a position which is to the extent possible, no worse than the Parties were in prior to the relevant insurance ceasing to be available.

Failure to Obtain Insurance. (a) Where, other than due to the act or omission of ZH, any of the insurances required to be effected in accordance with this Clause 11 12 (Insurance) cease to be available on commercially reasonable terms (or at all), within seven (7) Days of becoming aware that such policy will no longer be available on commercially reasonable terms (or at all), ZH shall inform SeaWorld and the Parties shall, in good faith, seek to agree the means by which the relevant risk should be managed (including alternative levels of cover, self-insurance and/or amendment to this Agreement) so as to try and keep the Parties in a position which is to the extent possible, no worse than the Parties were in prior to the relevant insurance ceasing to be available.