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Failure to Maintain Insurance
Failure to Maintain Insurance contract clause examples
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Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written request the Company will provide to the Buyer true and correct copies of all policies relating to directors’ and officers’ liability coverage, errors and omissions coverage, and commercial general liability coverage.

Insurance. and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of believes to be prudent and customary in the businesses in which and its Subsidiaries are engaged. Neither nor any such Subsidiary has been refused any insurance coverage sought or applied for and neither nor any such Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not materially and adversely affect the condition, financial or otherwise, or the earnings, business or operations of and its Subsidiaries, taken as a whole.

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