Lapse in Coverage Clause Samples

Lapse in Coverage. Employees who experience a lapse in coverage due to a leave of

Lapse in Coverage. If Architect or any Subconsultant, for any reason, fails to maintain any insurance coverage which is required pursuant to this Agreement, the same shall be deemed a material breach of this Agreement. County, at its sole option, may thereupon terminate this Agreement and obtain damages from Architect resulting from said breach. Alternatively, County may purchase such coverage (but has no obligation to do so) and, without further notice to Architect, may deduct from sums due to Architect any premium costs advanced by County for such insurance.

Lapse in Coverage. Employees who experience a lapse in coverage due to a leave of absence, unpaid leave, disability leave, and workers compensation leave are eligible for insurance coverage on the first of the month after the date on which the employee returns to work.

Lapse in Coverage. It is expressly understood and agreed that (i) if any insurance required hereunder, or any part thereof, shall expire, be withdrawn, become void by breach of any condition thereof by Tenant, or become void or in jeopardy by reason of the failure or impairment of the capital of any insurer, Tenant shall immediately obtain new or additional insurance reasonably satisfactory to Landlord and any Lender designated by Landlord; (ii) the minimum limits of insurance coverage set forth in this Section 10.3 shall not limit the liability of Tenant for its acts or omissions as provided in this Lease; (iii) Tenant shall procure policies for all insurance for periods of not less than one year and shall provide to Landlord and any servicer or Lender of Landlord certificates of insurance or, upon Landlord’s request, duplicate originals of insurance policies evidencing that insurance satisfying the requirements of this Lease is in effect at all times; (iv) Tenant shall pay as they become due all premiums for the insurance required by this Section 10.3; and (v) in the event that Tenant fails to comply with any of the requirements set forth in this Section 10.3, within ten (10) days of the giving of written notice by Landlord to Tenant, (A) Landlord shall be entitled to procure such insurance; and (B) any sums expended by Landlord in procuring such insurance shall be additional rental and shall be repaid by Tenant, together with interest thereon at the Default Rate, from the time of payment by Landlord until fully paid by Tenant immediately upon written demand therefor by Landlord.

Lapse in Coverage. If the Program Manager or any Subconsultant, for any reason, fails to maintain insurance coverage which is required pursuant to this Agreement, the same shall be deemed a material breach of contract. The District, at its sole option, may terminate this Agreement and obtain damages from the Program Manager resulting from said breach. Alternatively, the District may purchase such coverage (but has no obligation to do so), and without further notice to the Program Manager, the District may deduct from sums due to the Program Manager any premium costs advanced by the District for such insurance.

Lapse in Coverage. Should any required insurance lapse during the term of this Agreement, Special Counsel shall immediately notify the City Attorney. Regardless of whether the City Attorney receives such notice from Special Counsel, the City Attorney shall have the sole option to direct Special Counsel to immediately discontinue all work under this Agreement. Requests for payments originating after such lapse shall not be processed until the City Attorney receives satisfactory evidence of reinstated coverage as required by this Agreement, effective as of the lapse date. If insurance is not reinstated, the City Attorney may, at his sole option, terminate this Agreement upon the lapse of any required insurance.

Lapse in Coverage. Should any required insurance lapse during the term of this Agreement, requests for payments originating after such lapse shall not be processed until the City receives satisfactory evidence of reinstated coverage as required by this Agreement, effective as of the lapse date. If insurance is not reinstated, the City may, at its sole option, terminate this Agreement effective on the date of such lapse of insurance.

Lapse in Coverage. If any policy of insurance required by this section is canceled or expires, the Committee shall immediately notify the City and cease all work under this Agreement. Work shall not resume until the Committee provides a replacement policy that complies with the requirements of Exhibit C and is approved by the City.

Lapse in Coverage. Any lapse of insurance coverage referred to in this Section 6 shall be deemed a default of this Agreement. In any such event, SMG may, at its option, (i) suspend with notice this Agreement and the License herein granted to TEAM until there is full compliance with the insurance requirements in this Section 6; and/or (ii) terminate this Agreement for nonperformance subject to applicable notice and cure periods set forth in Section 25(a).