Recipient’s Insurance. The Recipient represents, warrants, and covenants that it has, and will maintain at its own cost and expense for a period extending at least 90 Business Days beyond the Term, with insurers having a secure A.M. Best rating of B+ or greater, or the equivalent, all the necessary and appropriate insurance that a prudent person carrying out a project similar to the Project would maintain, including commercial general liability insurance on an occurrence basis for third party bodily injury, personal injury, and property damage, to an inclusive limit of not less than $2,000,000.00 per occurrence, and including products and completed operations coverage with the endorsements identified below: (a) the Indemnified Parties as additional insureds in respect of liability arising in the course of performance of the Recipient’s obligations under, or otherwise in connection with, the Agreement; (b) a cross-liability clause; (c) contractual liability coverage; and (d) a 30-day written notice of cancellation.
Appears in 5 contracts
Samples: Transfer Payment Agreement, Transfer Payment Agreement, Transfer Payment Agreement
