Common use of Additional Insured/Waiver of Rights of Recourse Clause in Contracts

Additional Insured/Waiver of Rights of Recourse. All such insurances will include Buyer Group as additional insureds to the extent of the liabilities assumed by Seller under this Agreement and will be primary as regards any other coverage in respect of the risks assumed by Seller hereunder. Seller will obtain from its insurers a waiver of all rights of recourse, including without limitation subrogation, against the Buyer Group. All policies will be endorsed by use of language substantially similar to: "The insurers waive their rights of subrogation against McWane India Private Limited, and its parent, Affiliates, divisions and subsidiaries ("Buyer") under Agreement No. [Insert Agreement number] between Buyer and [Insert Seller name] ("Seller"), and against any individuals, firms, or corporations for whom or with whom Buyer may be acting in connection with the performance of the Agreement." The insurance will contain provisions which provide Buyer with a minimum of thirty (30) days’ prior notification from the insurer of cancellation of, or any amendment in, the insurance policy. The insurer will also notify Buyer of failure to pay the insurance premiums or any other default of the policy.

Additional Insured/Waiver of Rights of Recourse. All such insurances will include Buyer Group as additional insureds to the extent of the liabilities assumed by Seller under this Agreement and will be primary as regards any other coverage in respect of the risks assumed by Seller hereunder. Seller will obtain from its insurers a waiver of all rights of recourse, including without limitation subrogation, against the Buyer Group. All policies will be endorsed by use of language substantially similar to: "The insurers waive their rights of subrogation against McWane India Private Limited, and its parent, Affiliates, divisions and subsidiaries ("Buyer") under Agreement No. [Insert Agreement number] between Buyer and [Insert Seller name] ("Seller"), and against any individuals, firms, or corporations for whom or with whom Buyer Xxxxx may be acting in connection with the performance of the Agreement." The insurance will contain provisions which provide Buyer with a minimum of thirty (30) days’ prior notification from the insurer of cancellation of, or any amendment in, the insurance policy. The insurer will also notify Buyer of failure to pay the insurance premiums or any other default of the policy.