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Common use of Remedies for Defaults Re Clause in Contracts

Remedies for Defaults Re. Insurance. In addition to any other remedies City may have if the Vendor fails to provide or maintain any insurance policies or policy endorsements to the extent and within the time herein required, City may, at its sole option: (a) Obtain such insurance and deduct and retain the amount of the premium for such insurance from any sums due under this Agreement; (b) Order the Vendor to stop work under this Agreement and/or withhold any payment(s) which become due to the Vendor hereunder until the Vendor demonstrates compliance with the requirements hereof; (c) Terminate this Agreement. Exercise of any of the above remedies, however, is an alternative to other remedies City may have and is not the exclusive remedy for the Vendor’s failure to maintain insurance or secure appropriate endorsements. Nothing herein contained shall be construed as limiting in any way the extent to which the Vendor may be held responsible for payment of damages to persons or property resulting from the Vendor’s or its subcontractor's performance of Vendor’s Services under this Agreement.

Appears in 4 contracts

Samples: Vendor Agreement, Vendor Agreement, Vendor Agreement

Remedies for Defaults Re. Insurance. In addition to any other remedies City may have if the Vendor Contractor fails to provide or maintain any insurance policies or policy endorsements to the extent and within the time herein required, City may, at its sole option: (a) Obtain such insurance and deduct and retain the amount of the premium for such insurance from any sums due under this Agreement; (b) Order the Vendor Contractor to stop work under this Agreement and/or withhold any payment(s) which become due to the Vendor Contractor hereunder until the Vendor Contractor demonstrates compliance with the requirements hereof; (c) Terminate this Agreement. Exercise of any of the above remedies, however, is an alternative to other remedies City may have and is not the exclusive remedy for the VendorContractor’s failure to maintain insurance or secure appropriate endorsements. Nothing herein contained shall be construed as limiting in any way the extent to which the Vendor Contractor may be held responsible for payment of damages to persons or property resulting from the VendorContractor’s or its subcontractor's performance of VendorContractor’s Services under this Agreement.

Appears in 1 contract

Samples: Workforce Innovation and Opportunity Act Agreement