Common use of Professional and General Liability Coverage Clause in Contracts

Professional and General Liability Coverage. Seller shall, at its sole cost, maintain for a period of not less than two (2) years after Closing, insurance coverage on commercially reasonable terms from insurers to insure against the professional and general liabilities of Trace Regional incurred prior to the Closing and at coverage levels comparable to the current policies insuring Seller for pre-closing operations of Trace Regional.

Professional and General Liability Coverage. Seller shallshall at its option, either self insure or maintain at its sole cost, maintain for a period of not less than two (2) years after Closing, insurance coverage on commercially reasonable terms from insurers to insure against the professional and general liabilities of Trace Regional incurred with respect to acts or events occurring prior to the Closing and at coverage levels comparable to the current policies but which may be adjusted downward allowing for the reduced exposure of Trace Regional without having to include coverage for the SNF) insuring Seller for pre-closing operations of Trace Regional.