Provision Language
8. INDEMNIFICATION AND INSURANCE
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8.2 Insurance. COMPANY shall obtain and carry in full force and effect certain types and minimum limits of insurance which shall protect COMPANY and Indemnitees with respect to events covered by Section 8.1(a) above: (i) commercial general liability products/completed operations coverage; (ii) errors and omissions insurance at any time during which COMPANY or any AFFILIATE or SUBLICENSEE is performing a service for a third party (including without limitation manufacturing or assembling), has entered into a sublicense or partnership agreement or has such an agreement in force, and/or is otherwise liable to errors and omissions claims, and (iii) intellectual property infringement coverage commencing upon receipt of regulatory approval for a LICENSED PRODUCT and/or LICENSED PROCESS. Such insurance (a) shall be issued by an insurer licensed to practice in the Commonwealth of Massachusetts or an insurer pre-approved by M.I.T., such approval not to be unreasonably withheld, (b) shall list M.I.T. as an additional insured thereunder, for the commercial general liability policy only, and (c) shall require [**] days written notice to be given to M.I.T. prior to any cancellation or material change thereof. The limits of the commercial general liability insurance shall not be less than [**] Dollars ($[**]) per occurrence with an aggregate of [**] Dollars ($[**]) for bodily injury including death, property damage, and products/completed operations coverage. The limits of the errors and omissions liability insurance shall not be less than [**] Dollars ($[**]) per claim and in the aggregate. COMPANY shall provide M.I.T. with Certificates of Insurance evidencing ongoing compliance with this Section, in accordance with Section 5.2. COMPANY shall continue to maintain such insurance after the expiration or termination of this Agreement during any period in which COMPANY or any AFFILIATE or SUBLICENSEE continues (i) to make, use, or sell a product that was a LICENSED PRODUCT under this Agreement or (ii) to perform a service that was a LICENSED PROCESS under this Agreement, and thereafter for a period of [**] years, if the coverage is under a claims- made policy.