With respect to Claims and Liabilities relating to the title of the Site, Project, or the Work, Seller’s obligation to indemnify Buyer shall continue indefinitely. With respect to all Claims and Liabilities, Seller’s obligation to indemnify Buyer shall continue for a period of ___________ years following the Closing Date. INSURANCE Contractor’s and Subcontractors’ Insurance Coverage [Buyer may adjust below dollar amounts, depending on size of proposed project] Seller shall maintain and shall require and cause the Contractor and all Subcontractors, while performing work on the Site, to provide, pay for and continuously maintain in full force and effect with insurers having an A.M. Best Insurance Reports rating of A-:VII or better the following insurance coverages: Employers’ Liability insurance with a minimum limit of $1,000,000. Commercial General Liability insurance, to include contractual liability, with a minimum single limit of $1,000,000 with $3,000,000 annual aggregate to protect against and from all loss by reason of injury to persons or damage to property based upon and arising out of the work performed under this Agreement. Umbrella or Excess Liability insurance with minimum limits of $10,000,000 per occurrence and $10,000,000 annual aggregate to cover claims in excess of the underlying limits for Employer’s Liability, General Liability, and Automobile Liability. Business Automobile Liability insurance with a minimum single of $1,000,000 for bodily injury and property damage with respect to Seller’s vehicles whether owned, hired or assigned to or used by Seller in the performance of the work. Professional Liability insurance (Errors and Omissions) with a minimum single of $1,000,000 to cover claims arising out of Consultant’s professional services hereunder. This policy shall be maintained until one year after Buyer’s acceptance of Consultant’s work.. Transit and Installation insurance with a minimum single limit of $500,000 to cover damage to property and other claims arising out of the loading, unloading, transportation, lifting, lowering, or other handling of such property. For Commercial General Liability insurance, the policy shall include: Provisions or endorsements naming Buyer, its Board of Directors, officers and employees as additional insured; Cross liability coverage so that the insurance applies separately to each insured against whom claim is made or suit is brought, even in instances where one insured claims against or sues another insured.
With respect to Claims and Liabilities relating to the title of the Site, Project, or the Work, Seller’s obligation to indemnify Buyer shall continue indefinitely. With respect to all Claims and Liabilities, Seller’s obligation to indemnify Buyer shall continue for a period of ___________ years following the Closing Date. INSURANCE Contractor’s and Subcontractors’ Insurance Coverage [Buyer may adjust below dollar amounts, depending on size of proposed project] Seller shall maintain and shall require and cause the Contractor and all Subcontractors, while performing work on the Site, to provide, pay for and continuously maintain in full force and effect with insurers having an A.M. Best Insurance Reports rating of A-:VII or better the following insurance coverages: Employers’ Liability insurance with a minimum limit of $1,000,000. Commercial General Liability insurance, to include contractual liability, with a minimum single limit of $1,000,000 with $3,000,000 annual aggregate to protect against and from all loss by reason of injury to persons or damage to property based upon and arising out of the work performed under this Agreement. Umbrella or Excess Liability insurance with minimum limits of $10,000,000 per occurrence and $10,000,000 annual aggregate to cover claims in excess of the underlying limits for Employer’s Liability, General Liability, and Automobile Liability. Business Automobile Liability insurance with a minimum single of $1,000,000 for bodily injury and property damage with respect to Seller’s vehicles whether owned, hired or assigned to or used by Seller in the performance of the work. Professional Liability insurance (Errors and Omissions) with a minimum single of $1,000,000 to cover claims arising out of Consultant’s professional services hereunder. This policy shall be maintained until one year after Buyer’s acceptance of Consultant’s work.. Transit and Installation insurance with a minimum single limit of $500,000 to cover damage to property and other claims arising out of the loading, unloading, transportation, lifting, lowering, or other handling of such property. For Commercial General Liability insurance, the policy shall include: Provisions or endorsements naming Buyer, its Board of Directors, officers and employees as additional insured; Cross liability coverage so that the insurance applies separately to each insured against whom claim is made or suit is brought, even in instances where one insured claims against or sues another insured.
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