Common use of Event Insurance Clause in Contracts

Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR for the Event from an insurance company that is acceptable to NASCAR for (i) spectator injury and property damage and (ii) participant legal liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR approves a lesser limit in writing prior to the Event). NASCAR may require that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one hundred twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR has contracted with respect to the exploitation of Live Broadcast Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCAR. If (a) PROMOTER fails to deliver such policies to NASCAR by the Notification Date, (b) the policies are not acceptable to NASCAR, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NASCAR may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it.

Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR NEM for the each Event from an insurance company that is acceptable to NASCAR NEM for (i) spectator injury and property damage and (ii) participant legal liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR NEM approves a lesser limit in writing prior to the Event). NASCAR NEM may require that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one hundred twenty (120) calendar days prior to the date of the an Event. PROMOTER shall deliver to NASCAR NEM at Daytona Beach, Florida no later than the each respective Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for each corresponding Event by submitting the Eventdocuments to: XXXXXX-XXX@xxxxxxxxx.xxx. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: NASCAR Event Management, Inc., National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., and each of their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; Toyota Motor Sales, USA, Ford Motor Company, ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR, NEM, or a NASCAR Rights Affiliate(s) has contracted with respect to the exploitation of Live Broadcast Transmission Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NEM, NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCARNEM. If (a) PROMOTER fails to deliver such policies to NASCAR NEM by the each Notification Date, (b) the policies are not acceptable to NASCARNEM, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the each Event, NASCAR NEM at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NASCAR NEM may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it. NEM reserves the right, on an annual basis, to amend these insurance requirements due to significant changes in the insurance industry and/or regulations and will provide as much notice to PROMOTER as reasonably possible.

Event Insurance. PROMOTER shall obtain and maintain comprehensive general public liability insurance that is acceptable to NASCAR for the Event from an insurance company that is acceptable to NASCAR for (i) spectator injury and property damage and (ii) participant legal legal, pit, track, product liability, product liability advertising liability, errors and advertising liability omissions and medical malpractice, with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) occurrence (unless NASCAR approves a lesser limit in writing prior to the Event). NASCAR may require that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one hundred and twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other public liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: National Association for Stock Car Auto Racing, Inc., CL Competitor Liaison Bureau, Inc., Delaware General Corporation, Awards and Achievement Bureau, Inc., Automotive Auto Research Bureau, Inc., Motorsports Charities, Inc., their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR has contracted with respect to the exploitation of Live Broadcast Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCAR. If (a) PROMOTER fails to deliver such policies to NASCAR by the Notification Date, (b) the policies are not acceptable to NASCAR, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NASCAR may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it.

Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR NEM for the Event from an insurance company that is acceptable to NASCAR NEM for (i) spectator injury and property damage and (ii) participant legal liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR NEM approves a lesser limit in writing prior to the Event). NASCAR NEM may require that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one hundred twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR NEM at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for the EventEvent by submitting the documents to: XXXXXX-XXX@xxxxxxxxx.xxx. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: NASCAR Event Management, Inc., National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., and each of their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; Toyota Motor Sales, USA, Ford Motor Company, ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR, NEM, or a NASCAR Rights Affiliate(s) has contracted with respect to the exploitation of Live Broadcast Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NEM, NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCARNEM. If (a) PROMOTER fails to deliver such policies to NASCAR NEM by the Notification Date, (b) the policies are not acceptable to NASCARNEM, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR NEM at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NASCAR NEM may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it.

Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR NEM for the Event from an insurance company that is acceptable to NASCAR NEM for (i) spectator injury and property damage and (ii) participant legal liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR NEM approves a lesser limit in writing prior to the Event). NASCAR NEM may require that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one hundred twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR NEM at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: NASCAR Event Management, Inc., National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., and each of their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR, NEM, or a NASCAR Rights Affiliate(s) has contracted with respect to the exploitation of Live Broadcast Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NEM, NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCARNEM. If (a) PROMOTER fails to deliver such policies to NASCAR NEM by the Notification Date, (b) the policies are not acceptable to NASCARNEM, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR NEM at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NASCAR NEM may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it.

Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR for the Event from an insurance company that is acceptable to NASCAR for (i) spectator injury and property damage and (ii) participant legal liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR approves a lesser limit in writing prior to the Event). NASCAR may require that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one hundred and twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR has contracted with respect to the exploitation of Live Broadcast Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCAR. If (a) PROMOTER fails to deliver such policies to NASCAR by the Notification Date, (b) the policies are not acceptable to NASCAR, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NASCAR may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it.

Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR for the Event from an insurance company that is acceptable to NASCAR for (i) spectator injury and property damage and (ii) participant legal liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR approves a lesser limit in writing prior to the Event). NASCAR may require that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one one- hundred and twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR has contracted with respect to the exploitation of Live Broadcast Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCAR. If (a) PROMOTER fails to deliver such policies to NASCAR by the Notification Date, (b) the policies are not acceptable to NASCAR, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NASCAR may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it.