Product Liability Insurance Sample Clauses
The Product Liability Insurance clause requires one party, typically the seller or manufacturer, to maintain insurance coverage that protects against claims arising from injuries or damages caused by their products. This clause usually specifies minimum coverage amounts, the types of incidents covered, and may require the insured party to provide proof of insurance to the other party. Its core function is to allocate risk and ensure that financial resources are available to address potential product-related claims, thereby protecting both parties from significant losses due to product defects or failures.
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Product Liability Insurance insurance against claims for bodily injury, death or Property damage resulting from the use of products sold by the Company or any of its Subsidiaries in such amounts as are then customarily maintained by responsible persons engaged in businesses similar to that of the Company and its Subsidiaries.
Product Liability Insurance. The Company maintains product liability insurance of the type and in the amounts typically maintained by similar companies operating in the industry in which the Company operates.
Product Liability Insurance. 1. The Supplier agrees to take out an insurance policy providing adequate cover against product liability risks and to provide us, on request, with documentary proof that such an insurance policy has been taken out and that it is being maintained. In case an insurance claim becomes payable, the Supplier hereby assigns to us in advance his claims against the insurance company. We hereby accept this assignment of claims.
2. If the Supplier fails to honour the obligation pursuant to the first sentence of item X.1 above, he shall be obliged to pay a contractual penalty of Euro 10,000.00
Product Liability Insurance. Supplier will defend, indemnify and hold harmless NCR from and against all liability resulting from any and all claims by third parties for loss, damage or injury (including death) caused by any Product to the extent not caused by misuse, abuse or other fault directly attributable to NCR or its customer, provided that Supplier is notified by NCR of all such claims within a reasonable period of time following NCR's initial actual knowledge of the claims, and provided further that Supplier is given sole authority to defend the claims. Supplier will maintain at all times relevant to this PO, and at its expense, all insurance required by law, including, without limitation, workers' compensation, and such other insurance, including, without limitation, general liability and automobile insurance, which is necessary or prudent to adequately protect Supplier and NCR from harm, injury (including death) or damage in connection with this indemnification.
Product Liability Insurance. Completed operations aggregate coverage of not less than Ten Million Dollars ($10,000,000); and
Product Liability Insurance. Beginning with the commencement of human clinical trials of any Product and continuing for a period of time after Licensee ceases manufacturing and marketing Products that is reasonable based upon industry standards, Licensee shall maintain general liability and product liability insurance that is reasonable based upon industry standards, but not less than $5 million per incident and $5 million in the aggregate. The insurance amounts specified herein shall not be deemed a limitation on Licensee’s indemnification liability under this Agreement. Licensee shall provide UM with copies of such policies, upon request of UM. Licensee shall notify UM at least ten (10) days prior to cancellation of any such coverage.
Product Liability Insurance. Supplier will defend, indemnify and hold harmless NCR Voyix from and against all liability resulting from any and all claims by third parties for loss, damage or injury (including death) caused by any Product to the extent not caused by misuse, abuse or other fault directly attributable to NCR Voyix or its customer, provided that Supplier is notified by NCR Voyix of all such claims within a reasonable period of time following NCR Voyix's initial actual knowledge of the claims, and provided further that Supplier is given sole authority to defend the claims. Supplier will maintain at all times relevant to this PO, and at its expense, all insurance required by law, including, without limitation, workers' compensation, and such other insurance, including, without limitation, general liability and automobile insurance, which is necessary or prudent to adequately protect Supplier and NCR Voyix from harm, injury (including death) or damage in connection with this indemnification.
Product Liability Insurance. LipoMatrix shall use its reasonable commercial efforts to secure product liability insurance in the amount of five million dollars ($5,000,000), to the extent this is available on commercially reasonable terms. LipoMatrix shall have Distributor named as an additional insured on its product liability insurance policy. If LipoMatrix is unable to secure or maintain such insurance, Distributor may terminate this Agreement. The parties agree to review the possibility of increasing the amount of such insurance if increases in sales so warrant.
Product Liability Insurance. The Company carries product liability insurance for those products that are faulty, defective or otherwise subject to recall. This coverage does not include the actions of Coaches in promoting the products, programs, or business opportunity.
Product Liability Insurance. At Parent's request, AlliedSignal shall use reasonable commercial efforts to procure, to the extent available, at Parent's expense, product liability insurance covering products manufactured or distributed by the Sellers prior to the Closing Date. Upon receipt of any premium notice relating to such insurance, AlliedSignal shall notify Parent and Parent shall promptly pay to AlliedSignal the amount of the premium due. Parent acknowledges and agrees that AlliedSignal is free to ascribe any adverse claim experience, to the extent reasonably identifiable to products manufactured or distributed by the Sellers prior to the Closing Date, to such policy, so that (to such extent) such adverse claim experience does not adversely affect other product liability premiums being paid by AlliedSignal.