Common use of Liability and Risk Clause in Contracts

Liability and Risk. 12.01 University represents that it has statutorily prescribed liability insurance coverage for the negligent acts of its officers, employees, and agents while acting within the scope of their employment by University, and University has no liability insurance policy as such that can extend protection to any other person, including Sponsor. 12.02 Subject to the provisions of the Oklahoma Governmental Tort Claims Act, including its limits of liability and exclusions therefrom, University assumes any and all risks of personal injury and property damage attributable to the negligent acts or omission of the University, its officers, employees and agents thereof. 12.03 Sponsor hereby assumes any and all risks of personal injury and property damage attributable to the negligent acts or omissions of Sponsor, its officers, employees, and agents thereof. 12.04 Sponsor agrees to indemnify and hold harmless University and its governing Board, officers, agents, and employees from any liability, loss, or damage they may suffer as the result of claims, demands, costs, or judgments against them arising out of the activities to be carried out pursuant to this Agreement.

Liability and Risk. 12.01 13.01 University represents that it has statutorily prescribed liability insurance coverage for the negligent acts of its officers, employees, and agents while acting within the scope of their employment by University, and University has no liability insurance policy as such that can extend protection to any other person, including Sponsor. 12.02 13.02 Subject to the provisions of the Oklahoma Governmental Tort Claims Act, including its limits of liability and exclusions therefrom, University assumes any and all risks of personal injury and property damage attributable to the negligent acts or omission of the University, its officers, employees and agents thereof. 12.03 13.03 Sponsor hereby assumes any and all risks of personal injury and property damage attributable to the negligent acts or omissions of Sponsor, its officers, employees, and agents thereof. 12.04 13.04 Sponsor agrees to indemnify and hold harmless University and its governing Board, officers, agents, and employees from any liability, loss, or damage they may suffer as the result of claims, demands, costs, or judgments against them arising out of the activities to be carried out pursuant to this Agreement.