For Professional Liability Sample Clauses
The 'For Professional Liability' clause defines the responsibilities and obligations of parties regarding claims arising from professional errors, omissions, or negligence. Typically, this clause requires one or both parties to maintain professional liability insurance and may specify coverage limits, reporting requirements, and the scope of covered activities, such as consulting, design, or advisory services. Its core function is to allocate risk and ensure that financial protection is in place for losses resulting from professional mistakes, thereby safeguarding both parties from potentially significant liabilities.
For Professional Liability. To the fullest extent permitted by law, the Firm shall indemnify and hold harmless the Town, and its officers and employees, from liabilities, damages, losses, and costs, including, but not limited to, reasonable attorneys’ fees, to the extent caused by the negligence, recklessness, or intentionally wrongful conduct of the Firm and other persons employed or utilized by the design professional in the performance of this Agreement.
For Professional Liability. Errors and Omissions coverage and Crime Coverage, Vendor shall continue such coverage for six (6) years beyond the expiration or termination of this Contract, naming Purchaser as an additional insured and providing Purchaser with certificates of insurance on an annual basis and for six (6) years beyond the expiration or termination of this Contract to pay for any premiums to continue such claims-made policies, or available tails, whichever is appropriate, at Purchaser’s sole option, in the event Vendor fails to do so.
For Professional Liability. Accountants will hold harmless, defend, and indemnify the Auditees and any Auditee officers, agents, and employees against all claims, demands, actions, or suits (including all attorney fees and costs), for failure to comply with auditing standards generally accepted in the United States of America, brought against any of them arising from the Accountants' gross negligent errors or gross negligent omissions under this agreement.