Common use of INSURANCE CHARGES Clause in Contracts

INSURANCE CHARGES. (i) Notwithstanding anything to the contrary contained herein, Lakes or an appropriate Non-Mississippi Subsidiary assumes responsibility for and shall pay to the appropriate insurance carriers or otherwise any premiums, retrospectively rated premiums, defense costs, indemnity payments, deductibles, retentions or other charges as appropriate (collectively "INSURANCE CHARGES"), whenever arising, which become due and payable upon the terms and conditions of any applicable Policy in respect of any Insured Claims against Lakes or a Non-Mississippi Subsidiary for charges which relate to the period before the Distribution Date. In the event that Lakes or a Non-Mississippi Subsidiary fails to pay any insurance charges when due and payable, whether at the request of the party entitled to payment or upon demand by Company or a Mississippi Subsidiary, Company or a Mississippi Subsidiary may (but shall not be required to) pay such Insurance Charges for and on behalf of Lakes or a Non-Mississippi Subsidiary and thereafter Lakes shall forthwith reimburse Company or such Mississippi Subsidiary for such payment.

INSURANCE CHARGES. (i) Notwithstanding anything to the contrary contained herein, Lakes or an appropriate Non-Mississippi Subsidiary assumes responsibility for and shall pay to the appropriate insurance carriers or otherwise any premiums, retrospectively rated premiums, defense costs, indemnity payments, deductibles, retentions or other charges as appropriate (collectively "INSURANCE CHARGESInsurance Charges"), whenever arising, which become due and payable upon the terms and conditions of any applicable Policy in respect of any Insured Claims against Lakes or a Non-Mississippi Subsidiary for charges which relate to the period before the Distribution Date. In the event that Lakes or a Non-Mississippi Subsidiary fails to pay any insurance charges when due and payable, whether at the request of the party entitled to payment or upon demand by Company or a Mississippi Subsidiary, Company or a Mississippi Subsidiary may (but shall not 37 be required to) pay such Insurance Charges for and on behalf of Lakes or a Non-Mississippi Subsidiary and thereafter Lakes shall forthwith reimburse Company or such Mississippi Subsidiary for such payment.

INSURANCE CHARGES. (i) Notwithstanding anything to the contrary contained herein, Lakes or an appropriate Non-Mississippi Subsidiary assumes responsibility for and shall pay to the appropriate insurance carriers or otherwise any premiums, retrospectively rated premiums, defense costs, indemnity payments, deductibles, retentions or other charges as appropriate (collectively "INSURANCE CHARGESInsurance Charges"), whenever arising, which become due and payable upon the terms and conditions of any applicable Policy in respect of any Insured Claims against Lakes or a Non-Mississippi Subsidiary for charges which relate to the period before the Distribution Date. In the event that Lakes or a Non-Mississippi Subsidiary fails to pay any insurance charges when due and payable, whether at the request of the party entitled to payment or upon demand by Company or a Mississippi Subsidiary, Company or a Mississippi Subsidiary may (but shall not be required to) pay such Insurance Charges for and on behalf of Lakes or a Non-Mississippi Subsidiary and thereafter Lakes shall forthwith reimburse Company or such Mississippi Subsidiary for such payment.