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.
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.
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.
