NASI'S LIABILITY INSURANCE Sample Clauses

NASI'S LIABILITY INSURANCE. Beginning on the Effective Date, NASI shall procure such liability insurance as shall be reasonably necessary in light of the business proposed to be conducted. Prior to distribution of Product under this Agreement for human use, and continuing for a period of five (5) years from the date on which the last sale of a Product occurs, NASI shall maintain (a) product liability insurance (containing both a Vendor's Additional Insured Endorsement and a Products Contractual Liability Endorsement) on the Product in amounts that are consistent with the amount of products liability insurance that are maintained by similarly situated companies selling comparable products for similar or related purposes, but in no event less than One Million Dollars ($1,000,000) first dollar coverage per occurrence and Five Million Dollars ($5,000,000) in the aggregate; and (b) general business liability insurance with minimum limits of One Million Dollars ($1,000,000) first dollar coverage per occurrence and Five Million Dollars ($5,000,000) in the aggregate. RADIOMED shall be named as an additional insured in each policy of insurance required to be maintained by RADIOMED hereunder. The issuer of each such policy shall be a standard company licensed to issue insurance having a Best's rating of B+ or higher and a policy holder surplus of not less than Twenty-Five Million Dollars ($25,000,000). Each such policy shall provide for (a) the issuance of a reporting or tail coverage endorsement upon termination of (i) the base policy, (ii) the production, manufacturing, marketing and sale of the Product or (iii) the corporate existence of NASI and (b) for not less than thirty (30) days' prior written notice to RADIOMED of any proposed change in the nature, scope or amount of coverage. NASI shall provide RADIOMED with certificates of such insurance and evidence of the payment of premiums therefor, promptly upon request. The insurance coverage required to be maintained hereunder shall be subject to review and adjustment from time to the time at the request of either party to limits of liability that are mutually agreeable in order to assure a continuing level of insurance protection that, as nearly as practicable after taking relative costs and benefits into account, is consistent with the level of protection contemplated by the parties at the time they execute this Agreement, but no such adjustment shall be made more than once in any consecutive twelve-month period. Should the parties be unab...
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Related to NASI'S LIABILITY INSURANCE

  • Umbrella Liability Insurance Liability on a following form basis with a limit $1,000,000 per occurrence in excess of all primary limits.

  • D&O Liability Insurance To the extent that the Company maintains a policy or policies of insurance (“D&O Liability Insurance”) providing liability insurance for directors and officers of the Company in their capacities as such (and for any capacity in which any director or officer of the Company serves any other Enterprise at the request of the Company), in respect of acts or omissions occurring while serving in such capacity, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any other director or officer under such policy or policies.

  • Commercial Umbrella Liability Insurance The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers' Compensation and Employers' Liability to satisfy the minimum limits set forth herein. The umbrella coverage shall follow form with the Umbrella limits required as follows: $ 2,000,000 per Occurrence $2,000,000 per Occurrence $ 4,000,000 Aggregate $10,000,000 Aggregate Additional Requirements for Commercial Umbrella Liability Insurance are shown below at Paragraph 1.5.3.3.6.

  • Excess Liability Insurance $___________________ minimum required insurance policy for anything other than General Liability or Automobile coverage. ☐ - Additional Insurance Requirement: Client, Contractor, and any other entity which the Contractor is required to name as an additional insured under the Prime Contract shall be named as additional insureds under the General Liability Insurance required by this Section and any such insurance afforded to the additional insureds shall apply as primary insurance. Any other insurance maintained by the Client or Contractor shall be excess insurance and shall not be called upon to contribute to Subcontractor’s primary or excess insurance carrier’s duty to defend or indemnify unless required by law. The excess insurance required above shall also afford additional insured protection to Client and Contractor. This Section shall in no event be construed to require that additional insured insurance coverage be provided to a greater extent than permitted under the statutes or public policy governed under State law. Certificates of Insurance. Certificates of insurance, and the required additional insured and other endorsements, including waivers of subrogation shall be furnished to Contractor before the performance of any Services.

  • OWNER’S LIABILITY INSURANCE The Owner shall be responsible for purchasing and maintaining the Owner’s usual liability insurance.

  • Contractor's Liability Insurance 11.1.1. Contractor shall maintain such insurance as will protect Contractor from claims set forth below which may arise out of or result from Contractor's operations under the Contract and for which Contractor may be legally liable, whether such operations be by Contractor or a Subcontractor, or by anyone directly or indirectly employed by any of them, or by anyone for whose acts any of them may be liable: .1 claims under workers' compensation, disability benefit and other similar employee benefit acts which are applicable to the Work to be performed; .2 claims for damages because of bodily injury, occupational sickness or disease, or death of Contractor's employees; .3 claims for damages because of bodily injury, sickness, disease or death of any person other than employees of Contractor or a Subcontractor or by anyone directly or indirectly employed by any of them in connection with the Work; .4 claims for damages, other than to the Work itself, because of injury to or destruction of tangible property, including loss of use resulting therefrom; and .5 claims for damages because of bodily injury, death of a person or property damage arising out of ownership, maintenance or use of a motor vehicle. Such insurance need not cover acts of terrorism, mold or microorganisms or completed operations to the extent that such coverage is not available on commercially reasonable terms. 11.1.2. The insurance required by Subparagraph 11.1.1 shall be written for not less than limits of liability specified in the Contract Documents or required by law, whichever coverage is greater. Coverages shall be written on an occurrence basis. All coverages shall be maintained without interruption from date of commencement of the Work until date of final payment and any additional period specified by any Contract Document for coverage required to be maintained after final payment. 11.1.3. Certificates of insurance shall be filed with Owner prior to commencement of the Work. These certificates and the insurance policies required by this Paragraph 11.1 shall contain a provision that coverages afforded under the policies will not be canceled or materially modified until at least 20 days' prior written notice has been given to Owner. Information concerning reduction of coverage on account of revised limits shall be furnished by Contractor with reasonable promptness in accordance with Contractor's information and belief.

  • General Liability Insurance The Contractor must secure and maintain Commercial General Liability Insurance, including bodily injury, property damage, products, personal and advertising injury, and completed operations. This insurance must provide coverage for all claims that may arise from performance of the Contract or completed operations, whether by the Contractor or anyone directly or indirectly employed by the Contractor. Such insurance must include the State of Florida as an additional insured for the entire length of the resulting contract. The Contractor is responsible for determining the minimum limits of liability necessary to provide reasonable financial protections to the Contractor and the State of Florida under the resulting contract.

  • Liability Insurance To the extent the Company maintains an insurance policy or policies providing directors' and officers' liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer.

  • Umbrella/Excess Liability Insurance Umbrella or Excess Liability Insurance with limits not less than Two Million Dollars ($2,000,000.00) per occurrence, which will provide additional limits for employers’ general insurance and shall cover the Board and its employees, subject to that of the primary coverage.

  • The Commercial General Liability Insurance, Comprehensive Automobile Liability Insurance and Excess Public Liability Insurance policies, if written on a Claims First Made Basis, shall be maintained in full force and effect for two (2) years after termination of this LGIA, which coverage may be in the form of tail coverage or extended reporting period coverage if agreed by the Parties.

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