Remedy for failure to insure. If the Supplier [and/or the Developer if Supplier is a Trading Licensee] shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Utility shall have the option to either keep in force any such insurances, and pay such premium and recover the costs thereof from the Supplier, 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 Supplier [and/or the Developer if Supplier is a Trading Licensee].
Appears in 3 contracts
Samples: www.upcl.org, www.upcl.org, www.upcl.org
Remedy for failure to insure. If the Supplier [and/or the Developer if Supplier is a Trading Licensee] shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Utility shall have the option to either keep in force any such insurances, and pay such premium premia and recover the costs thereof from the Supplier, 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 Supplier [and/or the Developer if Supplier is a Trading Licensee].
Appears in 3 contracts
Samples: Default Escrow Agreement, Model Agreement, www.upcl.org
Remedy for failure to insure. If the Supplier [and/or the Developer if Supplier is a Trading Licensee] shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Utility GRIDCO shall have the option to either keep in force any such insurances, and pay such premium premia and recover the costs thereof from the Supplier, 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 Supplier [and/or the Developer if Supplier is a Trading Licensee].
Appears in 1 contract
Samples: gridco.co.in
Remedy for failure to insure. If the Supplier [and/or the Developer if Supplier is a Trading Licensee] shall fail to effect and keep in force all insurances for which it is responsible pursuant hereto, the Utility Aggregator shall have the option to either keep in force any such insurances, and pay such premium premia and recover the costs thereof from the Supplier, 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 Supplier [and/or the Developer if Supplier is a Trading Licensee].
Appears in 1 contract
Samples: Draft Agreement
