Common use of Failure to Pay Insurance Clause in Contracts

Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor on behalf of such Loan Party, and charge the Loan Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.

Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor on behalf of such Loan Party, and charge such premium shall be charged to the Loan Account therefor as a Revolving Advance Loan of a Domestic Rate Loan and such expenses so paid shall be part of added to the Obligations.

Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so electsat its option, may obtain such insurance and pay the premium therefor on behalf of such Loan Partyfor the Borrowers’ Account, and charge the Loan Borrowers’ Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.

Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor on behalf of such Loan Partyfor Borrowers' account, and charge the Loan Borrowers' Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.

Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor on behalf of such Loan Party, and charge such premium shall be charged to the Loan Account therefor as a Revolving Advance Loan of a Domestic Base Rate Loan and such expenses so paid shall be part of added to the Obligations. The Lender shall give notice to the Borrower Representative of any action it takes pursuant to this Section, provided that the failure to give such notice shall not limit the Lender’s rights hereunder.