Supply Agreement Insurance Clause

maintain (or insure) adequate insurance coverage with a serious insurance company against any debts and benefits that may arise from this agreement; and insurance. [PARTY A] may acquire or maintain insurance on behalf of a person who is or has been the director, staff or representative of [PARTY A] or, at the request of [PARTY A] as director, officer, employee or representative of another company, partnership, joint venture, trust or other business, against any claim claims claimed or held liable. which arises from its corporate status in [PARTY A], that [PARTY A] be allowed to compensate the person for such liability in accordance with the laws of [STATE OF INCORPORATION] because it may be amended or amended. [unrestricted to point 1.1.1, effect and maintenance [ (or to be produced and obtained]): the insurance clause provides that one or both parties bear the corresponding amount of insurance for the duration of the contract and that the parties generally provide proof of their insurance policy. The amount of insurance required varies depending on the risk associated with the agreement and the value of the agreement itself. More robust policies also require one party to include the other party in its own insurance policy as an additional insured. More complex and high-risk agreements may require one or both parties to maintain their insurance beyond the date of the agreement. Like what. B merger agreements, asset purchase agreements and other transfer or exchange agreements involving the transfer of large quantities of products or assets often require the seller to maintain product liability insurance after the sale or transfer has been completed.

. To see our latest legal instructions, log on to Lexis®PSL or sign up for a free trial. You may apply simplified vigilance obligations to clients with respect to certain business relationships or transactions that you find to be low risk of money laundering or terrorist financing, taking into account your company-wide risk assessment – see the practical note: [LIST OF THE SPECIALS REQUIS ASSURANCES] Free trial versions are only available to people based in the UK. . The studies are available for all LexisPSL and LexisLibrary content, with the exception of practical compliance, practice and risk management, and compliance, subscription packages are tailored to your specific needs. To discuss the trials of these LexisPSL services, please email customer service via our online form. Free trial versions are only available to uk-based people.