Common use of Lapse of Coverage Clause in Contracts

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. The Policies shall not be canceled or allowed to lapse, and no material 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 immediate Notice in writing to FirstEnergy Service Company, Insurance Risk Management, 00 Xxxxx Xxxx Xxxxxx, Xxxxx, Xxxx 00000, with receipt of notice Notice acknowledged. In the event of cancellation or lapse of or prohibited change in any Policy, Purchaser COMPANY shall have the right to suspend provision of the Work by Contractor USER’S access to COMPANY’S Information Assets until the Policy and certificates in evidence thereof are reinstated or arrangements acceptable to Purchaser COMPANY are made pending issuance of new policies Policies and certificates. If any Policy shall be about to lapse or be canceled, Contractor USER shall obtain a new Policy with like coverage, and if Contractor USER fails to do so, Purchaser COMPANY may terminate the Access Agreement.

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 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, Contractor Supplier shall obtain a new Policy with like coverage, and if Contractor Supplier fails to do so, Purchaser may terminate the Agreement.