Common use of Failure to Obtain or Maintain Clause in Contracts

Failure to Obtain or Maintain. Failure to timely obtain and maintain the insurance coverages as required under this Exhibit E and the Agreement may subject Architect to disqualification from eligibility to participate in any other or future projects with Owner and/or suspension of the Architect’s services. Architect shall provide Owner thirty (30) days’ written notice of erosion of any aggregate limits below the minimum amounts required by this Exhibit E and the Agreement. In the event Architect or its Consultants fail to timely renew or pay any of the renewal premiums for any expiring policies, Owner shall have the right (but not the obligation) to: (i) make such payments; and/or (ii) acquire replacement coverage, and set off the amount(s) or costs thereof against the next payment(s) coming due to Architect under the Agreement or under any other contract between Owner and Architect. Owner may withhold any payments due to Architect from this Project or any other Owner project until satisfaction is achieved.