Common use of Validity of the Insurance Cover Clause in Contracts

Validity of the Insurance Cover. The Concessionaire shall pay the premium payable on such insurance policies so as to keep the policies in force and valid throughout the Term and furnish copies of the same to the Authority. Each insurance policy shall provide that the same shall not be cancelled or terminated unless 10 (ten) days’ clear notice of cancellation is provided to the Authority in writing. If at any time the Concessionaire fails to purchase and maintain in full force and effect any and all of the insurances required under this Agreement, the Authority on behalf of itself and/ or PLBs may at its option purchase and maintain such insurance and all sums incurred by the Authority in this behalf shall be reimbursed by the Concessionaire forthwith on demand, failing which the same shall be recovered by the Authority on behalf of itself and/ or PLBs by exercising right of set off or otherwise from the Performance Security.

Validity of the Insurance Cover. The Concessionaire shall pay the premium payable on such insurance policies so as to keep the policies in force and valid throughout the Term and furnish copies of the same to the Authority. Each insurance policy shall provide that the same shall not be cancelled or terminated unless 10 (ten) days’ days‟ clear notice of cancellation is provided to the Authority in writing. If at any time the Concessionaire fails to purchase and maintain in full force and effect any and all of the insurances required under this Agreement, the Authority on behalf of itself and/ or PLBs may at its option purchase and maintain such insurance and all sums incurred by the Authority in this behalf shall be reimbursed by the Concessionaire forthwith on demand, failing which the same shall be recovered by the Authority on behalf of itself and/ or PLBs by exercising right of set off or otherwise from the Performance Security.

Validity of the Insurance Cover. The Concessionaire shall pay the premium payable on such insurance policies policy(ies) so as to keep the policies policy(ies) in force and valid throughout the Term Concession Period and furnish certified true copies of the same to the Authority. Each insurance policy shall provide that the same shall not be cancelled or terminated unless 10 (ten) days’ clear notice of cancellation is provided to the Authority in writing. If at any time the Concessionaire fails to purchase and maintain in full force and effect any and all of the insurances required under this Agreement, the Authority on behalf of itself and/ or PLBs may at its option purchase and maintain such insurance and all sums incurred by the Authority in this behalf therefore shall be reimbursed by the Concessionaire forthwith on demand, failing which the same shall be recovered by the Authority on behalf of itself and/ or PLBs by exercising right of set off or otherwise from the Performance Securityotherwise.

Validity of the Insurance Cover. The Concessionaire shall pay the premium payable on such insurance policies policy(ies) so as to keep the policies policy(ies) in force and valid throughout the Term Concession Period and furnish certified true copies of the same to the Authority. Each insurance policy shall provide that the same shall not be cancelled or terminated unless 10 (ten) daysDays’ clear notice of cancellation is provided to the Authority in writing. If at any time the Concessionaire fails to purchase and maintain in full force and effect any and all of the insurances required under this Agreement, the Authority on behalf of itself and/ or PLBs may at its option purchase and maintain such insurance and all sums incurred by the Authority in this behalf therefore shall be reimbursed by the Concessionaire forthwith on demand, failing which the same shall be recovered by the Authority on behalf of itself and/ or PLBs by exercising right of set off or otherwise from the Performance Securityotherwise.

Validity of the Insurance Cover. The Concessionaire shall pay the premium payable on such insurance policies so as to keep the policies in force and valid throughout the Term Concession Period and furnish copies of the same to the Concessioning Authority. Each insurance policy shall provide that the same shall not be cancelled or terminated unless 10 (ten) days’ ' clear notice of cancellation is provided to the Concessioning Authority in writing. If at any time the Concessionaire fails to purchase and maintain in full force and effect any and all of the insurances required under this Agreement, the Concessioning Authority on behalf of itself and/ or PLBs may at its option purchase and maintain such insurance and all sums incurred by the Concessioning Authority in this behalf shall be reimbursed by the Concessionaire forthwith on demand, failing which the same shall be recovered by the Concessioning Authority on behalf of itself and/ or PLBs by exercising right of set off or otherwise from the Performance Security.

Validity of the Insurance Cover. 17.5.1 The Concessionaire shall pay the premium payable on such insurance policies so as to keep the policies in force and valid throughout the Term and furnish copies of the same to the Authority. Each insurance policy shall provide that the same shall not be cancelled or terminated unless 10 (ten) days’ ' clear notice of cancellation is provided to the Authority in writing. If at any time the Concessionaire fails to purchase and maintain in full force and effect any and all of the insurances required under this Agreement, the Authority on behalf of itself and/ or PLBs may at its option purchase and maintain such insurance and all sums incurred by the Authority in this behalf shall be reimbursed by the Concessionaire forthwith on demand, failing which the same shall be recovered by the Authority on behalf of itself and/ or PLBs by exercising right of set off or otherwise from the Performance Security.