Insurance of the Company. The Company proposes to the Client to subscribe an insurance policy guaranteeing the consequences of a civil liability for damages to property or personal injuries caused to third parties or the Client personnel in the execution of the Purchase Order or the Engagement Letter. The Client shall be responsible for accepting, in writing, such a proposal. The Company cannot be held responsible for the malfunctions of the Deliverables resulting from the improper use of the latter by the Client. In the event that the Company is held liable for damages suffered by the Client and its liability is proved by the Client, the amount of damages that the Company may have to pay, irrespective of the amount and nature of the damage suffered by the Client, for all cases, may not exceed 50% of the total amount of the invoices issued by the Company. In any event, according to these Terms and Conditions, the Company may only be liable for payment of the penalties strictly set out in the GTC, unless otherwise specified in the quote; it shall in no case be liable to pay damages except in the case referred to in Article 12-1 above.
Insurance of the Company. Company shall purchase and maintain in effect for the duration of this Agreement insurance policies for the coverage of products and professional liability, and errors and omissions insurance. Each such insurance policy shall provide reasonable coverage for all claims related the performance of Company’s obligations under this Agreement, including losses for personal injury, property damage, employee liability, workers’ compensation, and damage arising out of the use or misuse of Company’s licensed software or other intellectual property.
Insurance of the Company. Schedule 4.14 identifies (including name of insurer, policy number and a brief description thereof) each policy of insurance, including without limitation general liability, automobile liability, excess liability, property and casualty, workers compensation, directors and officers and fiduciary liability insurance and any insurance on the life of any key employee of the Company, carried by or for the benefit of the Company and each performance or other surety bond currently provided by the Company in the conduct of its business. The Sellers have previously furnished the Purchaser with a true and complete copy of each policy of insurance and each bond identified on Schedule 4.14. All premiums and other payments which have become due under the policies of insurance and bonds identified on Schedule 4.14 have been paid in full, all of such policies and bonds are now in full force and effect, the Company has received no written notice from any insurer, agent or broker of the cancellation of, or any increase in premium with respect to, any of such policies or bonds and the Company has not made or agreed to make any assignment of any such policy or any of the Company's rights thereunder. Any premium refunds which become payable as a result of the removal of the Company as a covered insured under any such policy shall be paid to the Company or forwarded to the Company by the recipient thereof. Except as set forth in Schedule 4.14, within the 12 months preceding the date hereof the Company has received no written notification from any insurer, agent or broker denying or disputing any insurance claim made by the Company or denying or disputing any coverage for any such claim or the amount of any claim. Except as set forth in Schedule 4.14, the Company has no claim against any of its insurers under any of such policies pending or anticipated and, to the knowledge of the Sellers, there has been no occurrence of any kind which may give rise to any such claim.
Insurance of the Company. The Company and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; all policies of insurance and fidelity or surety bonds insuring the Company, or any of its subsidiaries or their respective businesses, assets, employees, officers and directors are in full force and effect; the Company and its subsidiaries are in compliance with the terms of such policies and instruments in all material respects; and there are no claims by the Company or any of its subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; neither the Company nor any such subsidiary has been refused any insurance coverage sought or applied for; and neither the Company nor any such subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have an Arch Coal Material Adverse Effect, except as set forth in or contemplated in the Disclosure Package and the Prospectus (exclusive of any amendment or supplement thereto).
Insurance of the Company
