Common use of Third Party Policies Clause in Contracts

Third Party Policies. (i) With respect to Third Party Policies, if an occurrence for which coverage is available under such Third Party Policies happens prior to the Effective Time, and a claim arising therefrom has been or is eventually asserted against Patriot or any other member of the Patriot Group and such claim is reported by Patriot to the carrier, with a copy to PEC, in accordance with the reporting provision of the applicable policy, then PEC will, or will cause the members of the PEC Group that are insured thereunder to, (A) continue to provide Patriot and any other member of the Patriot Group with access to and coverage under the applicable Third Party Policies and (B) reasonably cooperate with Patriot and take commercially reasonable actions as may be necessary or advisable to assist Patriot in submitting such claims under the applicable Third Party Policies, provided that Patriot shall be responsible for its portion of any deductibles or self-insured retentions or co-payments legally due and owing relating to such claims. For the avoidance of doubt, if an occurrence for which coverage is available under such Third Party Policies happens after the Effective Time, or a claim arising from an occurrence prior to the Effective Time is not reported by Patriot to PEC on or before the date when such occurrence must be reported to the carrier under the applicable Third Party Policy, then no payment for any damages, costs of defense, or other sums with respect to such claim shall be available to Patriot under such Third Party Policies.