Common use of Additional Insurance Conditions Clause in Contracts

Additional Insurance Conditions. 17.3.1 Any deductible or retention will be the sole responsibility of the WHOLESALER. 17.3.2 WHOLESALER’s policy(ies) shall be primary and non-contributory to any other valid and collectible insurance available to MMCAP Infuse with respect to any claim arising out of WHOLESALER’s performance under this Contract; If WHOLESALER receives a cancellation notice from an insurance carrier affording coverage herein, WHOLESALER agrees to endeavor to notify MMCAP Infuse within ten (10) business days with a copy of the cancellation notice, unless WHOLESALER’s policy(ies) contain a provision that coverage afforded under the policy(ies) will not be cancelled without at least thirty (30) calendar days advance written notice to MMCAP Infuse; WHOLESALER is responsible for payment of Contract related insurance premiums and deductibles/retentions; If WHOLESALER is self-insured, a notification of Self-Insurance must be attached; WHOLESALER’s policy(ies) shall include legal defense fees, where applicable. WHOLESALER shall obtain insurance policy(ies) from insurance company(ies) having an “AM BEST” rating of A- (minus); Financial Size Category (FSC) VII or better, and authorized to do business in the State of Minnesota; and An Umbrella or Excess Liability insurance policy may be used to supplement the WHOLESALER’s policy limits to satisfy the full policy limits required by the Contract.