Common use of Service Provider Insurance Clause in Contracts

Service Provider Insurance. During the Term, and for a period of two years following the effective date of termination, the Service Provider will, at its own expense, ensure that it maintains adequate insurance (including cover for, without limitation, public liability, property damage and business interruption) in respect of its potential liability for loss or damage arising under or in connection with this Agreement, including: (a) for a sum insured of not less than $2,000,000 in respect of the relevant liability amounts set out in clauses 17.3(b)(i) and (ii) for any claim or series of claims arising out of one event; and (b) (for a sum insured of not less than $20,000,000 in respect of the relevant liability amount set out in clause 17.3(b)(iii) for any claim or series of claims arising out of one event. The Service Provider will, at the LFC’s request, promptly provide such evidence as the LFC may reasonably require (including a copy of each insurance policy and certificate of currency) to demonstrate that the Service Provider has complied with clause 18.6(a) and (if applicable) clause 18.6(b).

Service Provider Insurance. During the Term, and for a period of two years following the effective date of termination, the Service Provider will, at its own expense, ensure that it maintains adequate insurance (including cover for, without limitation, public liability, property damage and business interruption) in respect of its potential liability for loss or damage arising under or in connection with this Agreement, including: (a) for a sum insured of not less than $2,000,000 in respect of the relevant liability amounts set out in clauses 17.3(b)(i) and (ii) for any claim or series of claims arising out of one event; and (b) (for a sum insured of not less than $20,000,000 50,000,000 in respect of the relevant liability amount set out in clause 17.3(b)(iii) for any claim or series of claims arising out of one event. The Service Provider will, at the LFC’s request, promptly provide such evidence as the LFC may reasonably require (including a copy of each insurance policy and certificate of currency) to demonstrate that the Service Provider has complied with clause 18.6(a) and (if applicable) clause 18.6(b).

Service Provider Insurance. During the Term, and for a period of two years following the effective date of termination, the Service Provider will, at its own expense, ensure that it maintains adequate insurance (including cover for, without limitation, public liability, property damage and business interruption) in respect of its potential liability for loss or damage arising under or in connection with this Agreement, including: (a) for a sum insured of not less than $2,000,000 in respect of the relevant liability amounts set out in clauses 17.3(b)(i) and (ii) for any claim or series of claims arising out of one event; and (b) (for a sum insured of not less than $20,000,000 10,000,000 in respect of the relevant liability amount set out in clause 17.3(b)(iii) for any claim or series of claims arising out of one event. The Service Provider will, at the LFC’s request, promptly provide such evidence as the LFC may reasonably require (including a copy of each insurance policy and certificate of currency) to demonstrate that the Service Provider has complied with clause 18.6(a) and (if applicable) clause 18.6(b).

Service Provider Insurance. During the Term, and for a period of two (2) years following the effective date of termination, the Service Provider will, at its own expense, ensure that it maintains adequate insurance (including cover for, without limitation, public liability, property damage and business interruption) in respect of its potential liability for loss or damage arising under or in connection with this Agreement, including: (a) for a sum insured of not less than $2,000,000 in respect of the relevant liability amounts set out in clauses 17.3(b)(i) and (ii) for any claim or series of claims arising out of one event; and (b) (for a sum insured of not less than $20,000,000 50,000,000 in respect of the relevant liability amount set out in clause 17.3(b)(iii) for any claim or series of claims arising out of one event. The Service Provider will, at the LFC’s request, promptly provide such evidence as the LFC may reasonably require (including a copy of each insurance policy and certificate of currency) to demonstrate that the Service Provider has complied with clause 18.6(a) and (if applicable) clause 18.6(b).