Common use of Minimum Policy Clause in Contracts

Minimum Policy. On its own behalf and on behalf of each physician or other Professional that it employs, and each physician or other Professional contracting with P.C. for the provision of professional services, P.C. shall provide and keep in force a malpractice insurance policy or policies of standard form in the State of New Jersey, with limits mutually acceptable to Manager and P.C. The policies shall be obtained by P.C. or, as the case may be, by each such physician or other Professional employed by P.C., or contracting with P.C., and certificates thereof shall be delivered to Manager prior to the inception of operations of any Site, together with evidence of the payment of the premiums thereon, and shall be placed with insurance companies authorized and licensed to issue such policies in the State of New Jersey at rates deemed reasonable and appropriate and having reserves in an amount deemed to be reasonably adequate by P.C. and Manager. P.C. shall use its best efforts to name Manager as an additional insured party on all malpractice insurance and Manager may, at its option, participate in the procurement of cost-effective coverage on behalf of P.C. P.C. shall provide documentation to Manager that all such insurance is in full force and effect on each subsequent anniversary of the Commencement Date and not less than ten (10) days prior to the earlier of the dates upon which P.C. employs or enters into a contract with any Professional to provide services at Site.

Minimum Policy. On its own behalf and on behalf of each physician or other Professional that it its employs, and each physician or other Professional contracting with P.C. for the provision of professional services, P.C. shall provide and keep in force a malpractice insurance policy or policies of standard form in the State of New JerseyYork, with limits mutually acceptable to Manager and P.C. The policies shall be obtained by P.C. or, as the case may be, by each such physician or other Professional employed by P.C., or contracting with P.C., and certificates thereof shall be delivered to Manager prior to the inception of operations of any Site, together with evidence of the payment of the premiums thereon, and shall be placed with insurance companies authorized and licensed to issue such policies in the State of New Jersey York at rates deemed reasonable and appropriate and having reserves in an amount deemed to be reasonably adequate by P.C. and Manager. P.C. shall use its best efforts to name Manager as an additional insured party on all malpractice insurance and Manager may, at its option, participate in the procurement of cost-effective coverage on behalf of P.C. P.C. shall provide documentation to Manager that all such insurance is in full force and effect on each subsequent anniversary of the Commencement Date and not less than ten (10) business days prior to the earlier of the dates upon which P.C. employs or enters into a contract with any Professional to provide services at a Site.