By Bioject Clause Samples

By Bioject. (a) During the term of this Agreement, Bioject shall procure and maintain in full force and effect, at its own cost and expense, insurance against the risks specified in this Agreement in amounts not less than the amounts specified in (b), below. (b) Bioject shall maintain the following minimum coverages with respect to the matters covered by this Agreement: (1) Worker's Compensation insurance in compliance with the Worker's Compensation laws of the state or states in which Bioject has employees performing work under this Agreement, and employer's liability insurance with respect to such employees with a minimum limit of $100,000/occurrence. (2) Commercial general liability insurance including premises, broad form property damage, contractual, products/completed operations coverage, with a minimum limit of $5,000,000 each occurrence. (c) Terms of such coverage shall be evidenced by certificates of insurance issued by a recognized insurer rated by A.M. Best A-(XV) or better, to be furnished by Bioject to Serono at the inception of this Agreement and as may be reasonably requested thereafter. Such certificates shall name Serono and its Affiliates or their agents, employees or directors, as additional insured, as their interests may appear, and provide that thirty (30) days' written notice shall be given to Serono prior to cancellation, modification or expiration of any of the terms of coverage of any policy. ***Confidential portions omitted and submitted separately to the Securities and Exchange Commission. An application for confidential treatment has been submitted pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.