Common use of Beginning on the Effective Date Clause in Contracts

Beginning on the Effective Date. Licensee shall, at its sole cost and expense, procure and maintain comprehensive general liability insurance in amounts not less than $2,000,000 per incident and $5,000,000 annual aggregate and naming ILEX as additional insureds. Such comprehensive, general liability insurance shall provide: (i) product liability coverage and (ii) broad form contractual liability coverage for Licensee's indemnification of ILEX under Section 9.1 of this Agreement. ILEX shall at all times procure and maintain comprehensive general liability insurance in amounts not less than $2,000,000 per incident and $5,000,000 annual aggregate and naming Licensee as an additional insureds. Such comprehensive, general liability insurance shall provide: (i) product liability coverage and (ii) broad form contractual liability coverage for ILEX's indemnification of Licensee under Section 9.1 of this Agreement.