Common use of Types and Minimum Limits Clause in Contracts

Types and Minimum Limits. The types of insurance, and minimum limits shall be: (a) Licensee shall at all times maintain in force any insurance policy that is required by any Federal, State, National or other such Law, Regulation or Ordinance which may govern or have jurisdiction over any provision of this Agreement and at all times remain fully compliant with any such Law, Regulation or Ordinance. (b) Clinical Trials Insurance effective at least [***] prior to the launch of any human clinical trials with a minimum limit of [***] in the aggregate to be maintained in force throughout the life of any such clinical trials, such insurance to be effected, maintained and documented to AbbVie in compliance with this Agreement and in compliance with any and all local requirements in any territory in which such trials are conducted. (c) Product Liability Insurance effective at least [***] prior to First Commercial Sale of a Licensed Compound or Licensed Product with a minimum limit of [***] in the aggregate.

Types and Minimum Limits. The types of insurance, and minimum limits shall be: (a) Licensee shall at all times maintain in force any insurance policy Insurance Policy that is required by any Federal, State, National or other such Law, Regulation or Ordinance which may govern or have jurisdiction over any provision of this Agreement and at all times remain fully compliant with any such Law, Regulation or Ordinance. (b) Insurance which is consistent with normal business practices of companies in the same industry as Licensee and at a similar stage. c) Clinical Trials Insurance effective at least [***] prior to the launch of any human clinical trials with a minimum limit of [***] in the aggregate to be maintained in force throughout the life of any such clinical trials, such insurance to be effected, maintained and documented to AbbVie Licensor in compliance with this Agreement and in compliance with any and all local requirements in any territory in which such trials are conducted. (cd) Product Liability Insurance effective at least [***] prior to First Commercial Sale first commercial sale of a Licensed Compound or Licensed Product with a minimum limit of [***] in the aggregate.