Common use of Loss Prevention Clause in Contracts

Loss Prevention. Protect its physical assets from loss, damage or prolonged incapacity that may interrupt business-critical activities or seriously affect performance; provide plans, resources and capabilities to minimise the risk of events such as explosions, fires and release of materials arising from processes, bulk storage facilities or utilities and disruption arising from all such events in line with EHS risks; and provide adequate resources and capabilities to respond to emergencies and implement measures to safeguard the environment, people and property.

Appears in 2 contracts

Sources: Licensing Agreement, Terms and Conditions of Purchase