Common use of Other Required Terms Clause in Contracts

Other Required Terms. The above-mentioned insurance policies of a Party (except workers’ compensation, excess/umbrella and professional liability) shall provide the following: A. Each policy shall contain provisions that specify that it is non-contributory for any liability arising out of the insured Party’s liability, and shall apply to such extent without consideration for other policies separately carried by the other Party and shall state that each insured is provided coverage as though a separate policy had been issued to each, except the insurer’s liability shall not be increased beyond the amount for which the insurer would have been liable had only one insured been covered. In addition, the following shall apply to the Parties’ insurance policies, to the extent allowable by law. i. If any coverage is written on a claims made basis, continuous coverage shall be maintained or an extended discovery period will be exercised for a period of not less than two (2) years after the effective date of the termination of this Agreement. ii. The insurance (including workers’ compensation) shall include a waiver of all rights of subrogation which a Party’s insurance carrier might exercise against the other Party. iii. Each Party shall be responsible for its respective deductibles or retentions.

Other Required Terms. The above-mentioned insurance policies of a Party (except workers’ compensation, excess/umbrella and professional liability) shall provide the following: A. a. Each policy shall contain provisions that specify that it is primary and non-contributory for any liability arising out of the insured Party’s liability, and shall apply to such extent without consideration for other policies separately carried by the other Party and shall state that each insured is provided coverage as though a separate policy had been issued to each, except the insurer’s liability shall not be increased beyond the amount for which the insurer would have been liable had only one insured been covered. In addition, the following shall apply to the Parties’ insurance policies, to the extent allowable by law. i. If any coverage is written on a claims first made basis, continuous coverage shall be maintained or an extended discovery period will be exercised for a period of not less than two (2) years after the effective date of the termination of this Agreement. ii. The insurance (including workers’ compensation) shall include a waiver of all rights of subrogation which a Party’s insurance carrier might exercise against the other Party. iii. Each Party shall be responsible for its respective deductibles or retentions.