COMPREHENSIVE POLLUTION LIABILITY Sample Clauses
The Comprehensive Pollution Liability clause establishes the responsibilities and coverage related to pollution-related damages or claims arising from a party's operations or activities. Typically, this clause requires the party to maintain specific insurance coverage for pollution incidents, including cleanup costs, third-party claims, and regulatory fines, regardless of whether the pollution is sudden or gradual. Its core function is to allocate risk and ensure that any environmental liabilities are clearly addressed and financially covered, thereby protecting both parties from unforeseen pollution-related expenses.
COMPREHENSIVE POLLUTION LIABILITY. Borrowers shall purchase Comprehensive Pollution Liability coverage with a limit of no less than Five Million Dollars ($5,000,000.00) per incident covering any loss or damage resulting from any discharge, emission, spillage or leakage on or into water, including governmental mandated clean up and be supplemented by Bumbershoot Liability coverage as described in Paragraph l below. The Agent Bank and Banks will be included as additional insureds under the policy.