Common use of The Aviation Authority's Right to Purchase Clause in Contracts

The Aviation Authority's Right to Purchase. If Company does not comply with its covenants made in paragraphs B or C of this Article 12, the Chief Executive Officer shall have the right, but not the obligation, to cause insurance as aforesaid to be issued, and in such event Company shall pay the premium for such insurance upon the Chief Executive Officer's demand.

The Aviation Authority's Right to Purchase. If Company does not comply with its covenants made in paragraphs B or C of this Article 1211, the Chief Executive Officer Aviation Authority shall have the right, but not the obligation, to cause purchase a property insurance as aforesaid to be issuedpolicy, at current market rates, covering the leasehold property and in improvements. In such event and upon Aviation Authority’s demand, Company shall pay the premium reimburse Aviation Authority for such insurance upon the Chief Executive Officer's demandpremiums, commissions, deductibles and/or self-insured retentions as each may apply.