Common use of Extended Reporting Clause in Contracts

Extended Reporting. If any of the required insurance is on a claims made basis and does not include an extended reporting period through the statute of ultimate repose, Consultant shall maintain continuous claims made liability coverage, provided the effective date of the continuous claims made coverage is on or before the effective date of this Contract, for a period equal to the statute of ultimate repose following the later of (i) Consultant’s completion and Owner’s acceptance of all Services required under this Contract, or, (ii) The expiration of all warranty periods provided under this Contract.