Common use of Remedy for failure to insure Clause in Contracts

Remedy for failure to insure. If the Concessionaire shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Lead ULB shall have the option to either keep in force any such insurances, and pay such premium and recover the costs thereof from the Concessionaire, or in the event of computation of a Termination Payment, treat an amount equal to the Insurance Cover as deemed to have been received by the Concessionaire.

Remedy for failure to insure. 24.4.1 If the Concessionaire shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Lead ULB shall have the option to either keep in force any such insurances, and pay such premium and recover the costs thereof from the Concessionaire, or in the event of computation of a Termination Payment, treat an amount equal to the Insurance Cover as deemed to have been received by the Concessionaire.

Remedy for failure to insure. ‌ If the Concessionaire shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Lead ULB shall have the option to either keep in force any such insurances, and pay such premium and recover the costs thereof from the Concessionaire, or in the event of computation of a Termination Payment, treat an amount equal to the Insurance Cover as deemed to have been received by the Concessionaire.