Notice of Cancellation or Expiration of Contractor’s Required Insurance Sample Clauses

Notice of Cancellation or Expiration of Contractor’s Required Insurance. Within three (3) business days of the date the Contractor becomes aware of an impending or actual cancellation or expiration of any insurance required by the Contract Documents, the Contractor shall provide notice to the Owner of such impending or actual cancellation or expiration. Upon receipt of notice from the Contractor, the Owner shall, unless the lapse in coverage arises from an act or omission of the Owner, have the right to stop the Work until the lapse in coverage has been cured by the procurement of replacement coverage by the Contractor. The furnishing of notice by the Contractor shall not relieve the Contractor of any contractual obligation to provide any required coverage.
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Notice of Cancellation or Expiration of Contractor’s Required Insurance. Within three (3) business days of the date the Vendor becomes aware of any diminution in its coverage limits or an impending or actual, cancellation or expiration of any insurance required by the Contract Documents, the Vendor shall provide written notice to the Owner of such diminution in limits or impending or actual cancellation or expiration. Upon receipt of notice from the Vendor, the Owner shall, unless the lapse in coverage arises from an act or omission of the Owner, have the right to stop the Work until the lapse in coverage has been cured by the procurement of replacement coverage by the Vendor. The Owner may also procure the insurance and, in such event, the Vendor shall pay the Owner for the cost of doing so. In the event the Vendor does not pay the Owner for the cost of the insurance, the Owner may reduce payment to the Vendor to cover such costs. The furnishing of notice by the Vendor shall not relieve the Vendor of any contractual obligation to provide any required coverage. In the event the Vendor’s renewal or replacement policy differs in any way from the previous policy, the Vendor shall also furnish the Owner with a certified copy of the renewal or replacement policy unless the Owner provides the Vendor with written consent to submit only a certificate of insurance. All renewal and replacement policies shall in form and substance satisfactory to the Owner and be written by carriers acceptable to the Owner. Coverage Limits
Sample 1

Related to Notice of Cancellation or Expiration of Contractor’s Required Insurance

  • Cancellation or Expiration of the Order If a stop work order issued under this clause is canceled at any time during the period specified in the order, or if the period of the order or any extension of thereof expires, Vendor shall have the right to return to work. An appropriate adjustment shall be made in the delivery schedule or Vendor price, or both, and the contract shall be modified in writing accordingly, if; the stop work order results in an increase in the time required for, or in the Vendor’s cost properly allocable to, the performance of any part of this contract and, Vendor asserts a claim for such an adjustment within 30 days after the end of the period of work stoppage; provided that, upon approval, any such claim asserted may be received and acted upon at any time prior to final payment under this contract.

  • Data Transfer Upon Termination or Expiration Provider will notify the Division of impending cessation of its business and any contingency plans. Provider shall implement its exit plan and take all necessary actions to ensure a smooth transition of service with minimal disruption to the Division. As mutually agreed upon and as applicable, Provider will work closely with its successor to ensure asuccessful transition to the new equipment, with minimal downtime and effect on the Division, all such work to be coordinated and performed in advance of the formal, transition date.

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