Products Liability Insurance Coverage Sample Clauses

Products Liability Insurance Coverage. The Sellers shall purchase effective as of the Effective Time tail coverage for its existing Products Liability Insurance policy for the Business conducted in and from the United Kingdom, the Netherlands and Hong Kong ("Tail Coverage"), which Tail Coverage shall insure the Buyers, the Parent and the Sellers against claims arising out of acts, errors and omissions occurring prior to the Closing. The Tail Coverage shall be obtained at the Sellers' sole cost and expense, for a term expiring not earlier than six years from the Closing Date. Sellers shall provide the Parent and the Buyers with evidence of said Tail Coverage and that the premium has been fully paid prior to or at the Closing. In addition, the Sellers agree to continue to maintain in effect their current products liability insurance policy providing coverage for the Business as conducted prior to the Effective Time in and from North America for a period of not less than five years after the Closing Date and shall add and maintain the Buyers and the Parent as additional insured parties under said policy.

Products Liability Insurance Coverage. River’s Edge hereby represents to DUSA that it has purchased and will maintain for a commercially reasonable time period products liability insurance coverage at industry standard amounts that covers DUSA for any potential product liability claim related to NIC 750 and that names DUSA as an additional insured. Upon DUSA’s request, River’s Edge shall furnish to DUSA a certificate of insurance evidencing such coverage and DUSA’s status as an additional insured, and stating that such insurance shall not be cancelled, materially amended or allowed to lapse without at least thirty (30) days prior written notice to DUSA. DUSA hereby represents to River’s Edge that it has purchased and will maintain for a commercially reasonable time period products liability insurance coverage at industry standard amounts to cover River’s Edge for any potential product liability claim related to the Licensed Products sold by DUSA prior to the date of this Agreement and that River’s Edge shall be named as an additional insured party under such insurance policies. Upon River’s Edge’s request, DUSA shall furnish to River’s Edge a certificate of insurance evidencing such coverage and River’s Edge’s status as an additional insured, and stating that such insurance shall not be cancelled, materially amended, or allowed to lapse without at least thirty (30) days prior written notice to River’s Edge.