Common use of Broncus Clause in Contracts

Broncus. The parties acknowledge and agree that no further premiums or other payments are required to be paid to keep the Broncus Insurance Policies in effect and that such “occurrence based” policies apply only to claims based on events occurring during specific Occurrence Periods. Broncus shall, at its sole expense, take all actions reasonably necessary or appropriate to maintain each Broncus Insurance Policy in effect during the maximum time period during which such Broncus Insurance Policy can remain in effect in accordance with its current terms without the payment of any additional premium, fee or other charge.