Provision Language
AbbVie – MPP Agreement
3. Sublicenses
[…]
3.5 Insurance. MPP shall cause the Sublicensees to purchase and maintain appropriate product liability insurance as per the terms of the Sublicense.
Form of Sublicense
9. Insurance
Within 30 days prior to the first commercial launch by Licensee of a Licensed Product, and each year thereafter for so long as this Agreement is in effect, Licensee shall provide to Licensor certificates of insurance by insurers acceptable to Licensor evidencing comprehensive general liability coverage, including products liability, with a combined limit of no less than 10 million dollars ($10,000,000.00) for bodily injury, including personal injury, and property damage. Licensee shall not cancel any such policy without at least 60 days prior written notice to Licensor, and agrees that such policy shall be maintained (or have an extended reporting period) of at least 7 years after the termination of this Agreement.