Common use of Lapse of Coverage Clause in Contracts

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. 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 Such renewal shall in any way 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 periodperiod as well as a reasonable reinstatement fee to cover ISA’s additional follow-up and administrative expenses, liquidated at a minimum of 1.000,00 SGD.