Common use of Default in Insuring Clause in Contracts

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

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