Common use of Current Insurance Clause in Contracts

Current Insurance. The Customer must obtain and maintain at all times with a reputable insurance company: (a) where a Supply Agreement contemplates that the Customer is responsible for collecting, shipping or transporting Equipment, insurance for the replacement value of the Equipment against Damage, including Damage in transit to the Customer’s address for delivery; (b) a broad form public liability policy of insurance to the value of at least $20,000,000 in respect of each claim covering all Damage or Claims arising out of or in connection with a Supply Agreement (including Damage to property, personal injury to any person and the use or operation of the Equipment); (c) third party and property Damage insurance with coverage in the sum of $20,000,000; and (d) any other insurance that TEN reasonably considers necessary to ensure its interests are protected against any Liability incurred under a Supply Agreement, including any such higher cover limits as TEN may reasonably require from time to time.