Example ContractsClausesProperty and Liability Insurance
Property and Liability Insurance
Property and Liability Insurance contract clause examples
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Liability Insurance. General Liability, Umbrella/Excess Liability, Workers Compensation and Auto Liability coverage as follows:

. Alkermes shall obtain and carry in full force and effect product liability insurance in respect of the Products in the amount of ​. KU shall obtain and carry in full force and effect product liability insurance in respect of the Products in the amount of ​.

Liability Insurance. Tenant shall obtain and keep in force during the term of this Lease # a Commercial General Liability policy of insurance protecting Tenant and Landlord as an additional insured against claims for bodily injury, property damage and personal injury based upon, relating to, involving, or arising out of the use, occupancy, or maintenance of the Premises and all areas appurtenant thereto with such insurance to be on an occurrence basis providing single limit coverage in an amount not less than $1,000,000 per occurrence with an annual aggregate of not less than $2,000,000, and # excess (or umbrella) liability insurance in an amount not less than$ $1,000,000 per occurrence $3,000,000 aggregate limit, applying in excess over the limits and coverages noted in subsection # above. Tenant shall promptly provide Landlord with evidence of such insurance in the form of an endorsement to the policy. The insurance shall include an “Additional Insured – Managers, Landlords, of Premises” endorsement. The policy shall not contain any inter-insured exclusions as between insured persons or organizations, shall contain endorsements for cross-liability to ensure a severability of interests, but shall include coverage for liability assumed under this Lease as an “insured contract” for the performance of Tenant’s indemnity obligations under this Lease. The limits of said insurance required by this Lease or as carried by Tenant shall not, however, limit the liability of Tenant, nor relieve Tenant of any obligation hereunder. All insurance to be carried by Tenant shall be primary to and not contributory with any insurance carried by Landlord, whose insurance shall be considered excess insurance only and shall not insure Tenant. Tenant shall comply with and maintain, and shall require all its vendors and contractors who provide services to or upon the Premises to comply and maintain, reasonable insurance requirements as set forth by Landlord.

Liability Insurance. Maintain, at its expense, such public liability and third party property damage insurance as is customary for Persons engaged in businesses similar to that of such Loan Party with such companies and in such amounts, with such deductibles and under policies in such form as shall be reasonably satisfactory to Administrative Agent and within thirty (30) days following request by Administrative Agent, Borrowers shall deliver original (or certified) copies of such policies to Administrative Agent, together with evidence of payment of all premiums therefor. Each such policy shall contain an endorsement showing Administrative Agent and Lenders as additional insured thereunder and providing that the insurance company shall give Administrative Agent at least thirty (30) days (except for non-payment of premium, in which case a ten (10) days) written notice before any such policy shall be altered or canceled.

Liability Insurance. For each Property, Borrower shall maintain commercial general liability insurance with per occurrence limits of $1,000,000, a products/completed operations limit of $2,000,000, and a general aggregate limit of $2,000,000, with an excess/umbrella liability policy of not less than $5,000,000 per occurrence and annual aggregate covering the Borrower that owns the applicable Property, with Lender named as an additional insured, against claims for bodily injury or death or property damage occurring in, upon, or about such Property. In addition to any other requirements, if commercially available, such commercial general liability and excess/umbrella liability insurance shall provide insurance against acts of terrorism and against claims applicable to the presence of Mold, or such coverages shall be provided by separate policies or endorsements. The insurance policies shall also include operations and blanket contractual liability coverage which insures contractual liability under the indemnification set forth in Article VI below (but such coverage or the amount thereof shall in no way limit such indemnification).

Liability Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the officers and directors of the Company with coverage for losses from wrongful acts, or to ensure the Company’s performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage. In all policies of directors’ and officers’ liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee is not a director of the Company but is an officer; or of the Company’s key employees, if Indemnitee is not an officer or director but is a key employee. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company.

Liability Insurance. The Company shall maintain # a directors’ and officers’ liability insurance policy, or an equivalent errors and omissions liability insurance policy, and # an employment practices liability insurance policy. Each such policy shall cover you with scope, exclusions, amounts and deductibles no less favorable to you than those applicable to the Company’s senior executive officers and directors on the Effective Date, or any more favorable as may be available to any other director or senior executive officer of the Company, while you are employed with the Company.

Liability Insurance. To the extent the Company maintains an insurai1ce policy or policies providing directors' and officers' liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer.

Liability Insurance. To the extent the Company maintains an insurai1ce policy or policies providing directors' and officers' liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer.

Liability Insurance. For the duration of Indemnitee’s service as a director and/or officer of the Company, and thereafter for so long as Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to continue to maintain in effect policies of directors’ and officers’ liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company’s current policies of directors’ and officers’ liability insurance. In all policies of directors’ and officers’ liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided to the most favorably insured of the Company’s directors, if Indemnitee is a director, or of the Company’s officers, if Indemnitee is an officer (and not a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors’ and officers’ liability insurance applications, binders, policies, declarations, endorsements and other related materials. In the event of and immediately upon a Change in Control, the Company shall use commercially reasonable efforts to ensure that a policy or policies of insurance (which may be a “tail” policy) shall be continued, procured and otherwise maintained in effect for a period of six (6) years from the date on which such Change in Control is effective (the “Change in Control Coverage”), providing Indemnitee with coverage for losses from alleged acts of the Indemnitee relating to Indemnitee’s services to the Company occurring on or before the effective date of the Change in Control. If directors’ and officers’ liability insurance is in place immediately prior to the Change in Control, then the Company shall use commercially reasonable efforts to # ensure that the Change in Control Coverage shall contain limits, retentions or deductibles, terms and exclusions that are no less favorable to Indemnitee than those set forth above, # ensure that each policy evidencing the Change in Control Coverage shall be non-cancellable by the insurer except for non-payment of premium and # ensure that no such policy shall contain any provision that limits or impacts adversely any right or privilege of Indemnitee given by this Agreement.

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