Common use of Policy Cancellation or Termination & Notice of Non-Renewal Clause in Contracts

Policy Cancellation or Termination & Notice of Non-Renewal. Subrecipient is responsible to notify the Department within fifteen (15) business days prior to any actual or proposed cancellation, non-renewal or material change that affects the Approved Project’s required insurance coverages. No policy may be cancelled upon less than thirty (30) days’ prior written notice from the insurer to the insured and the Department. New certificates of insurance are subject to the approval of the Department and the Subrecipient agrees no Collective Work or services will be commenced or performed prior to obtaining such approval. In the event Subrecipient, Developer or Contractor fails to keep in effect at all times the specified insurance coverage, the Department may, in addition to any other remedies it may have, terminate this Agreement and/or Approved Project upon the occurrence of such event, subject to the provisions of this Agreement.

Policy Cancellation or Termination & Notice of Non-Renewal. Subrecipient is responsible to notify the Department within fifteen (15) 15 business days prior to any actual or proposed cancellation, non-renewal or material change that affects the Approved Project’s required insurance coveragescoverage. No policy may be cancelled upon less than thirty (30) 30 days’ prior written notice from the insurer to the insured and the Department. New certificates of insurance are subject to the approval of the Department and the Subrecipient agrees no Collective Work or services will be commenced or performed prior to obtaining such approval. In the event Subrecipient, Developer or Subrecipient and Contractor fails to keep in effect at all times the specified insurance coverage, the Department may, in addition to any other remedies it may have, terminate this Agreement and/or Approved Project upon the occurrence of such event, subject to the provisions of this Agreement.