Common use of Default in Insuring Clause in Contracts

Default in Insuring. If the Contractor fails to effect or renew such insurances as are required to be effected and maintained under this Contract, the Council or the S.O. on its behalf may effect or renew such insurance and shall be entitled to deduct a sum equivalent to the amount in respect of the premiums paid and On-Cost Charges (calculated by applying the 'Percentage for On-cost Charges' stated in Appendix hereto to the premiums paid), from any money due or to become due to the Contractor under this Contract or to recover the same from the Performance Bond or as a debt due from the Contractor.

Default in Insuring. If the Contractor fails to effect or renew such insurances insurance as are required to be effected and maintained necessary under this Contractclause, the Council or the S.O. on its behalf may effect or renew such insurance and shall be entitled to pay the premium in respect thereof and deduct a sum equivalent to the amount in respect of the premiums paid and so expended including On-Cost Charges (calculated by applying the '‘Percentage for of On-cost Charges' stated in Appendix hereto to the premiums paid), from any money due or to become due to the Contractor under this Contract or to recover the same Contract, and failing which such premium shall be recovered from the Performance Bond or as a debt due from the Contractor.