Provision Language
19. Indemnification and Insurance
[This Clause 19 describes the insurance and provides mutual indemnification provisions.]
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19.6 Clinical Studies by CEPI under the Public Health License. In the event that the Public Health License becomes exercisable and CEPI intends to exercise such rights, CEPI will procure insurance protection consistent with the requirements for Awardee below.
19.7 The Awardee will:
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b. obtain and continuously maintain insurance on a claims–arising basis with an insurance company of a credit rating of A or better to cover reasonably foreseeable claims that may arise in connection with its activities under the Project;
c. if Awardee is the sponsor of a clinical trial pursuant to this Agreement, it will obtain and will ensure that any Sub–awardee that is the sponsor of a clinical trial will obtain, clinical trial insurance on a claims–arising basis pursuant to the guidelines of the Association of the British Pharmaceutical Industry or relevant local guidelines for the country in which the clinical study is conducted. Such insurance is to be effective from the commencement date of the clinical study until at least six (6) years after the completion of the clinical study or such longer period as is required by the relevant ethical committee or an applicable statutory period of limitation; and
d. if requested by CEPI, Awardee will:
i. ensure that the insurer records CEPI’s interest on each such insurance policy;
ii. provide CEPI with a copy of each such certificate of insurance and annually on renewal;
iii. notify CEPI of any claims made under these policies relating to the subject matter of this Agreement during the Term and for at least the duration of any applicable statutory period of limitation afterwards; and
iv. comply with the terms of these insurance policies for the Term and for at least the duration of any applicable statutory period of limitation afterwards.