Lapse of Coverage. In the event that coverage for Support and Maintenance Services lapses as a result of Your non-payment, ISB shall have no obligation of any kind to renew coverage for Support and Maintenance Services. Any renewal shall require payment to ISB of a reinstatement fee equal of one hundred fifty percent (150%) of the sum of the Support and Maintenance Fees for any previously unpaid contract period(s) plus full payment for the pending annual period.
Lapse of Coverage. The Policies shall not be canceled or allowed to lapse, and no change shall be made altering, restricting, or reducing the insurance provided or changing the name of the insured without giving immediate notice in writing to FirstEnergy Service Company, Insurance Risk Management, 00 Xxxxx Xxxx Xxxxxx, Xxxxx, Xxxx 00000, with receipt of notice acknowledged. In the event of cancellation or lapse of or prohibited change in any Policy, Purchaser shall have the right to suspend provision of the Work by Supplier until the Policy and certificates in evidence thereof are reinstated or arrangements acceptable to Purchaser are made pending issuance of new Policies and certificates. If any Policy shall be about to lapse or be canceled, Supplier shall, obtain a new Policy with like coverage, and if Supplier fails to do so, Purchaser may terminate the Agreement.
Lapse of Coverage. In the event that coverage for Support and Maintenance Services lapses as a result of Your non-payment, ISA shall have no obligation of any kind to renew coverage for Support and Maintenance Services. Any renewal shall require payment to ISA of a reinstatement fee equal of one hundred fifty percent (150%) of the sum of the Support and Maintenance Fees for any previously unpaid contract period(s) plus full payment for the pending annual period.
Lapse of Coverage. The Service Provider shall inform policyholders of any lapse in coverage under the Reinsured Policies as well as grace period notices indicating a lapse may be forthcoming.
Lapse of Coverage. In the event that any insurance coverage required under this paragraph is terminated for any reason, other than when simultaneously replaced with coverage that is at least equivalent, Referral Agency agrees to obtain within five (5) days additional or tail insurance coverage in the amounts set forth herein.
Lapse of Coverage. The Policies shall not be canceled or allowed to lapse, and no change shall be made in this policy altering, restricting or reducing the insurance provided or changing the name of the insured without first giving at least thirty (30) days’ notice in writing to FirstEnergy Service Company, Insurance Risk Management, 00 Xxxxx Xxxx Xxxxxx, Xxxxx, Xxxx 00000, with receipt of notice acknowledged. In the event of cancellation or lapse of or prohibited change in any Policy, Purchaser shall have the right to suspend provision of the Work by Contractor until the Policy and certificates in evidence thereof are reinstated or arrangements acceptable to Purchaser are made pending issuance of new policies and certificates. If any Policy shall be about to lapse or be canceled, Contractor shall obtain a new Policy with like coverage, and if Contractor fails to do so, Purchaser may terminate the Agreement.
Lapse of Coverage. In the event that a Party’s life insurance policy or policies required under this Exhibit would otherwise lapse for nonpayment of premium(s), the other Party or, if applicable, the trustees of the Insurance Trust may opt to pay such premium(s) due and make demand upon the insured Party to be reimbursed, forthwith, for the unpaid premium(s) and for all reasonable costs associated with seeking repayment from the insured. The insured shall, within 14 days of that demand, reimburse the other Party (or, if applicable, the Insurance Trust) for the cost of such premium(s) and costs associated with seeking repayment, if any, and for any costs charged by the insurance carrier for the reinstatement or maintenance of such policy or policies.
Lapse of Coverage. The Service Provider shall inform policyholders of any lapse in coverage under the Contracts as well as grace period notices indicating a lapse may be forthcoming, in each case as required by the Contract or by Applicable Law.
Lapse of Coverage. In the event that coverage for Maintenance Service ------------------- lapses as a result of either termination by Licensee for any reason or by Plumtree for Licensee's non-payment, renewal of such service will require payment by Licensee of a reinstatement fee to Plumtree equal to [***] of the sum of the fees for any previously unpaid contract period(s) plus full payment for the subsequent annual period.
Lapse of Coverage. Licensee acknowledges and agrees that, if coverage for Support Services lapses for any reason (a “Lapse of Coverage”) with respect to any particular Software, ISB shall have no obligation of any kind to reinstate coverage for the Support Services for such Software. Reinstatement of Support Services following any Lapse of Coverage is subject to ISB’s written approval (which may be withheld in its sole discretion) and subject to Licensee’s payment to ISB of a reinstatement fee equal to 150% of the sum of the Support Fees for any previously unpaid contract period(s) plus full payment for the pending annual period.
