Common use of Insurance on Contractor Obligations Clause in Contracts

Insurance on Contractor Obligations. To the extent economically feasible and justifiable, as determined by the State after consultation with Contractors, the State shall maintain insurance or other forms of security protecting bondholders and non-defaulting Contractors against costs resulting from the failure of any Contractor to make the payments required by this article.

Insurance on Contractor Obligations. To the extent economically feasible and justifiable, as determined by the State after consultation with Contractors, the State shall maintain insurance or other forms of security protecting bondholders and non-non- defaulting Contractors against costs resulting from the failure of any Contractor to make the payments required by this article.