Product Recall Insurance Sample Clauses

Product Recall Insurance. Product Recall Insurance an occurrence form basis with limits of not less than *[REDACTED] each occurrence and *[REDACTED] annual aggregate. Such insurance shall include worldwide coverage including coverage for USA and Canada jurisdiction claims and occurrences. UBS’ policy shall also specifically waive any rights of subrogation against LifeScan, its subsidiaries, and its directors, officers and employees. UBS shall supply LifeScan with the above proof of insurance and forms as required upon the signing of this Agreement, but LifeScan’s failure to demand such proof or forms shall not waive LifeScan’s rights to such coverage as specified herein.
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Product Recall Insurance. In addition to insurance required by the General Provisions, Seller agrees to maintain product recall insurance in a minimum amount of $2,000,000.00 per occurrence and with a deductible of not more than $10,000.00 during the entire term of the Contract. All required policies of liability insurance shall cover Seller's employees, agents, and independent contractors and shall include Buyer as an additional insured, and in addition shall contain cross liability and severability clauses protecting Buyer with respect to claims by Seller or other persons as if Buyer were separately insured.
Sample 1
Product Recall Insurance. Notwithstanding the agreement of CAGCO and HOLDCO that the voluntary recalls announced on June 30, 2002 and July 19, 2002 of fresh and frozen beef products that may be contaminated with E. coli O157:H7 do not constitute an extraordinary or catastrophic event, for a term of six (6) months from the Closing Date, CAGCO shall allow HOLDO to elect at its option to "piggyback" on CAGCO's existing insurance policies relating to product recalls ("Product Recall Insurance"), subject to a $10,000,000 deductible and subject to the procurement of any consents from the insurers required under the underlying Product Recall Insurance policies. HOLDCO hereby agrees to pay to CAGCO an amount equal to US$1,000,000 plus the amount of any incremental costs incurred by CAGCO in providing such Product Recall Insurance to HOLDCO and its subsidiaries if it elects to "piggyback" on the Product Recall Insurance for such six (6) month period.
Sample 1

Related to Product Recall Insurance

  • Tail Insurance The Company shall have provided Parent with evidence reasonably satisfactory to Parent of the purchase of the D&O Tail Policy in accordance with Section 4.9.

  • Medical Insurance Upon termination of employment, the Executive shall be entitled to all COBRA continuation benefits available under the Company's group health plans to similarly situated employees. To the extent permitted under Code Section 409A, during the applicable Payout Period, the Company shall provide such COBRA continuation benefits to the Executive at the active employee rates similarly situated employees must pay for such benefits. Upon the expiration of such Payout Period, the Executive will be responsible for paying the full COBRA premiums for the remaining COBRA continuation period.

  • Insurance The Company and the 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 the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any 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 without a significant increase in cost.

  • Product Liability Insurance insurance against claims for bodily injury, death or Property damage resulting from the use of products sold by the Company or any of its Subsidiaries in such amounts as are then customarily maintained by responsible persons engaged in businesses similar to that of the Company and its Subsidiaries.

  • Comprehensive General Liability Insurance Insurance against claims for bodily injury, death or Property damage occurring on, in or about the Property (and adjoining streets, sidewalks and waterways) of such Person, in such amounts as are then customary for Property similar in use in the jurisdictions where such Properties are located.

  • Group Insurance Executive shall be entitled to participate in such group health and dental insurance programs (including spouse coverage) as may from time to time be offered generally to all of the other members of the senior management personnel of the Company and its subsidiaries.

  • Boiler and Machinery Insurance Broad form boiler and machinery insurance (without exclusion for explosion) covering all boilers or other pressure vessels, machinery, and equipment located in, on or about the Property and insurance against loss of occupancy or use arising from any breakdown in such amounts as are generally required by institutional lenders for properties comparable to the Property;

  • Risk of Loss; Insurance The Grantor shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's own cost and expense in amounts and with carriers acceptable to the Collateral Agent, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's including, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish the Collateral Agent with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Collateral Agent, naming the Collateral Agent for the benefit of the Secured Parties as loss payees and providing that as to the Collateral Agent for the benefit of the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Collateral Agent with at least 30 days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Collateral Agent and not to the Grantor and the Collateral Agent jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Collateral Agent jointly, the Collateral Agent may endorse the Grantor's name thereon and do such other things as the Collateral Agent may deem advisable to reduce the same to cash. The Collateral Agent is hereby authorized to adjust and compromise claims. All loss recoveries received by the Collateral Agent upon any such insurance may be applied to the Obligations, in such order as the Collateral Agent in its sole discretion shall determine. Any surplus shall be paid by the Collateral Agent to the Grantor or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor to the Collateral Agent, on demand.

  • D & O Insurance The Company agrees that for six (6) years and one (1) business day after the expiration or earlier termination of the Employment Period the Company shall obtain and provide at its expense directors’ and officers’ liability insurance or directors’ and officers’ liability tail insurance policies covering the Executive with respect to acts or omissions occurring during Executive’s employment with the Company with coverage and amounts (including with respect to the payment of attorney’s fees) equal to or greater than those of the Company’s policy in effect on the date hereof.

  • Comprehensive General Liability The General Partner shall cause to be maintained commercial general liability insurance in favor of the Partnership in an amount not less than $1,000,000 per occurrence (combined single limit) and $2,000,000 in the aggregate.

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