Common use of Liability and Risk Clause in Contracts

Liability and Risk. (a) UAS 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 UAS, and UAS has no liability insurance policy as such that can extend protection to any other person, including COMPANYABC. (b) Subject to the provisions of local and state laws, including its limits of liability and exclusions therefrom, UAS assumes any and all risks of personal injury and property damage attributable to the negligent acts or omission of UAS, its officers, employees and agents thereof. (c) COMPANYABC hereby assumes any and all risks of personal injury and property damage attributable to the negligent acts or omissions of COMPANYABC, its officers, employees, and agents thereof. COMPANYABC agrees to indemnify and hold harmless UAS 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 by COMPANYABC pursuant to this Agreement.