Common use of Scope & Expense Clause in Contracts

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