Common use of Remedy for failure to insure Clause in Contracts

Remedy for failure to insure. 22.4.1 If the Concessionaire shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, Maha-Metro shall have the option to either keep in force any such insurances, and pay such premia and recover the costs , at actuals, thereof from the Concessionaire, or in the event of computation of a Termination Payment, deduct the amount so paid for insurance on behalf of the Concessionaire.