Common use of Potential Claims Clause in Contracts

Potential Claims. If any event occurs which may give rise to a claim involving Progen under any policy of insurance to be taken out by Medigen under this clause 14 then Medigen must: (a) notify Progen as soon as reasonably practicable but in any event within five Business Days of the occurrence of that event; and (b) ensure that Progen is kept fully informed of any subsequent actions and developments concerning the relevant claim.