Common use of Commercial Insurance Coverage Clause in Contracts

Commercial Insurance Coverage. Until the termination of this Agreement and continuing for a period of six years thereafter, each party, at its sole cost and expense, shall secure from an insurance company reasonably acceptable to the other party and licensed to do business within the State of North Carolina and the State of Virginia, and maintain throughout such term, commercial liability insurance coverage, which shall include coverage against products-completed operations hazards, with limits of insurance as follows: (i) general aggregate limit (other than products-completed operations hazards coverage), no less than $5,000,000; (ii) products-completed operations hazards coverage, no less than $2,000,000; and (iii) each liability occurrence, no less than $2,000,000. Such insurance coverage shall (in the case insurance coverage obtained by Nomaco) name RBX as an additional insured-broad form vendor. Additionally, such insurance coverage shall provide that it will not be canceled or amended except after thirty days' prior written notice to the other party. Upon receipt of a written request, each party shall deliver to the other party a certificate of insurance satisfactory to such other party evidencing the existence of such insurance coverage, such delivery to be made (A) upon the execution and delivery hereof and (B) at least ten days prior to the expiration of any such insurance coverage.