Common use of Failure to Obtain or Maintain Coverage Clause in Contracts

Failure to Obtain or Maintain Coverage. The failure by either Contractor or Owner to obtain or maintain the insurance required hereunder shall entitle the other Party, in addition to any other remedies available under this Agreement, at law or in equity, to obtain such coverage at the expense of the Party failing to obtain or maintain such insurance; provided, however, that such Party shall reimburse the other Party for the cost of obtaining or maintaining such insurance. ____________________________

Failure to Obtain or Maintain Coverage. The failure by either Contractor or Owner to obtain or maintain the insurance required hereunder shall entitle the other Party, in addition to any other remedies available under this Agreement, at law or in equity, to obtain such coverage at the expense of the Party failing to obtain or maintain such insurance; provided, however, that such Party shall reimburse the other Party for the cost of obtaining or maintaining such insurance. ____________________________.