Common use of Types and Minimum Limits Clause in Contracts

Types and Minimum Limits. The types of insurance, and minimum limits shall be: (i) Worker’s Compensation and/or coverage for workers injured in the course and scope of work as legally required and with statutory limits in compliance with the Worker’s Compensation or similar laws of the state(s) or other jurisdiction in which Receptos has employees in. (ii) Employer’s Liability coverage with a minimum limit of *** Dollars *** per occurrence, provided a Party has employees in the United States (excluding Puerto Rico). (iii) General Liability Insurance with a minimum limit of *** Dollars *** annual aggregate during Development of Licensed Product or Licensed Compound. General Liability Insurance shall include, at a minimum, Clinical Trial Insurance and, beginning at least *** days prior to First Commercial Sale of a Licensed Product, product liability insurance. The Parties shall mutually agree on reasonable liability insurance limits for product liability insurance.