Common use of Maintain Insurance Coverage Clause in Contracts

Maintain Insurance Coverage. From the date hereof until the Closing, Seller shall maintain and cause to be maintained in full force and effect, without change of coverage or insurance carrier unless approved of in writing by the Buyer (which approval shall not be unreasonably withheld), the existing insurance on the Assets and the operations of the Hospital and the Related Assets and shall provide, upon request by Buyer, evidence satisfactory to Buyer that such insurance continues to be in effect and that all premiums due have been paid. Prior to Closing, Seller will obtain "tail" insurance coverage for a malpractice and general liability insurance policy with limits no less than $1,000,000.00 per occurrence and $3,000,000.00 in the aggregate and umbrella coverage with limits no less than $9,000,000.00 from a carrier acceptable to Buyer and naming Buyer as additional insured.

Maintain Insurance Coverage. From the date hereof until the Closing, Seller shall maintain and cause to be maintained in full force and effect, without change of coverage or insurance carrier unless approved of in writing by the Buyer (which approval shall not be unreasonably withheld), the existing insurance on the Assets and the operations of the Hospital and the Related Assets and shall provide, upon request by Buyer, evidence satisfactory to Buyer that such insurance continues to be in effect and that all premiums due have been paid. Prior to Closing, Seller will obtain "tail" insurance coverage for a malpractice and general liability insurance policy with limits no less than $1,000,000.00 per occurrence and $3,000,000.00 in the aggregate and umbrella coverage with limits no less than $9,000,000.00 from a carrier acceptable to aggregate. Buyer and naming Buyer its affiliates shall be named under such coverages as additional insuredinsureds.