Scope & Expense Clause Samples

The Scope & Expense clause defines the boundaries of work or services to be performed under an agreement and clarifies which party is responsible for associated costs. It typically outlines the specific tasks, deliverables, or obligations included within the contract's scope, and details whether expenses such as materials, travel, or third-party fees are included in the contract price or billed separately. This clause ensures both parties have a clear understanding of their responsibilities and financial commitments, thereby minimizing disputes over unexpected work or costs.
Scope & Expense. (a) Licensee shall procure and maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees, including Trustees of Boston University, as additional insureds as their interests appear as provided for in ISO form CG 20 26 04 13 with coverage amounts of [***]. Licensee shall procure and provide to University proof of such coverage within [***] of the Effective Date, in a form satisfactory to University. Delivery of proof of coverage to University within such time is a condition precedent to the validity and enforceability of the grant in Section 2.01 of this Agreement. University may in its reasonable discretion, by [***] written notice to Licensee, require greater liability coverage. (b) Notwithstanding section 7.03(A)(a) above, prior to the earlier of: (i) the first use of a Licensed Process or Licensed Product by or on humans (including human testing) or (ii) the First Commercial Sale of any Licensed Process or Licensed Product, Licensee will, at its own expense, procure and maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees as additional insureds with coverage amounts of [***],
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Scope & Expense. (a) As of the Effective Date, Licensee will have procured and will maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees as additional insureds with coverage amounts of no less than $1,000,000 per incident and $1,000,000 in annual aggregate but the University may in its reasonable discretion, by thirty (30) days written notice to Licensee, require greater liability coverage. (b) Prior to the earlier of: (i) the first use of a Licensed Process or Licensed Product by or on humans (including human testing) or (ii) the First Commercial Sale of any Licensed Process or Licensed Product, Licensee will, at its own expense, procure and maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees as additional insureds with coverage amounts of no less than $5,000,000 per incident and $5,000,000 in annual aggregate, but the University may in its reasonable discretion, by thirty
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Scope & Expense. (a) Licensee shall procure and maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees, including Trustees of Boston University, as additional insureds as their interests appear as provided for in ISO form CG 20 26 04 13 with coverage amounts of [***]. Licensee shall procure and provide to University proof of such coverage on or before January 16, 2016, in a form satisfactory to University. Delivery of proof of coverage to University within such time is a condition precedent to the validity and enforceability of the grant in Section 2.01 of this Agreement. University may in its reasonable discretion, by [***] written notice to Licensee, require greater liability coverage. (b) Notwithstanding section 7.03(A)(a) above, prior to the earlier of: (i) the first use of a Licensed Process or Licensed Product by or on humans (including human testing) or (ii) the First Commercial Sale of any Licensed Process or Licensed Product, Licensee will, at its own expense, procure and maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees as additional insureds with coverage amounts of [***], but the University may in its reasonable discretion, by [***] written notice to Licensee, require greater liability coverage. Coverage under the commercial general liability insurance will include product liability and coverage for Licensee’s indemnification obligations under Section 7.
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Scope & Expense. (a) As of the Effective Date, Licensee will have procured and will maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees and HHMI Indemnitees as additional insureds as provided for in ISO form CG 20 26 04 13 or its equivalent with coverage amounts of no less than $1,000,000 per occurrence and $1,000,000 annual aggregate, including products/completed operations coverage. (b) Prior to the earliest to occur of: (i) the first use of a Licensed Process or Licensed Product by or on humans (including, without limitation clinical trials), (ii) the First Commercial Sale of any Licensed Process or Licensed Product, or (iii) Licensed Process or Licensed Product is otherwise commercially manufactured, distributed, sold, leased, transferred, consumed, advertised or used by Licensee or any third parties, its Affiliate or any Permitted Sublicensee, Licensee will, at its own expense, procure and maintain in full force and effect excess/umbrella liability insurance policies that protect and name the Indemnitees and HHMI Indemnitees as additional insureds as provided for in ISO form CG 20 26 04 13 or its equivalent with coverage amounts of no less than $5,000,000 per occurrence and $5,000,000 in annual aggregate (including the coverage required under subpart (a) of this Section). Licensor may in its reasonable discretion, by thirty (30) days written notice to Licensee, require higher limits of liability coverage. Coverage under the commercial general liability and excess/umbrella insurance will include products/completed operations liability and contractual liability for Licensee’s indemnification obligations under Section 7.03. If any of the insurance required under this section is not written on an occurrence basis, Licensee will maintain commercial general liability insurance on a per claim basis (or equivalent tail coverage) for not less than six (6) years after it has ceased commercial distribution or use of any Licensed Product or Licensed Processes. The minimum amounts of insurance coverage required under this Section 7.04(A) shall not limit Licensee’s liability with respect to its indemnification obligations under Section 7.03 of this Agreement.
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Scope & Expense. Licensee shall procure and shall maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees as an additional insureds. Coverage shall be no less than [***] per incident and [***] in annual aggregate. Coverage shall include product liability and contractual liability for Licensee’s indemnification obligations under Section 7.02. If the product liability insurance is not for occurrence liability coverage, Licensee shall maintain commercial general liability insurance for not less than [***] years after it has ceased commercial distribution or use of any Licensed Product or Licensed Processes.
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Scope & Expense. Licensee has procured and shall maintain in full force and effect commercial general liability insurance policies that protect and name the Indemnitees as additional insureds. Coverage shall be no less than $[…***…] per incident and $[…***…] in annual aggregate, but the University may in its reasonable discretion, by thirty (30) days written notice to Licensee, require greater liability coverage. Coverage shall include product liability and contractual liability for Licensee’s indemnification obligations under Section 7.02. If the product liability insurance is not for occurrence liability coverage, Licensee shall maintain commercial general liability insurance for not less than ten (10) years after it has ceased commercial distribution or use of any Licensed Product or Licensed Processes.
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Related to Scope & Expense

  • A-E’S EXPENSE A-E will be responsible for all costs related to photo copying, telephone communications and fax communications while on COUNTY sites during the performance of work and services under this CONTRACT.

  • Travel Expense Any EMPLOYEE who must use his personal automobile or otherwise provide his own transportation when on school district business shall be reimbursed by the BOARD according to the amount established by current BOARD policy.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • ▇▇▇▇▇▇’S EXPENDITURES If any action or proceeding is commenced that would materially affect ▇▇▇▇▇▇’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by ▇▇▇▇▇▇▇▇. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity.

  • Operating Expense Limit The Fund’s maximum operating expense limits (each an “Operating Expense Limit”) in any year shall be that percentage of the average daily net assets of the Fund as set forth on Schedule A attached hereto and incorporated by this reference.