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Posted On: 07/18/2023 11:02:54 PM
Post# of 148892
I found this line in another Amerex master service agreement with a different company from 2018:
Amarex will maintain or cause to be maintained, with financially sound and reputable insurers, such insurance coverages with respect to liabilities, losses or damage in respect of the assets, properties and businesses of Amarex as may customarily be carried or maintained under similar circumstances by companies of established reputation engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for companies similarly situated in the industry.
Maybe Craig can tell us what was in the master service agreement with Amarex and Cytodyn regarding insurance? Also, from a legal standpoint, does this sound like they're required to keep enough insurance to cover $100M?
Amarex will maintain or cause to be maintained, with financially sound and reputable insurers, such insurance coverages with respect to liabilities, losses or damage in respect of the assets, properties and businesses of Amarex as may customarily be carried or maintained under similar circumstances by companies of established reputation engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for companies similarly situated in the industry.
Maybe Craig can tell us what was in the master service agreement with Amarex and Cytodyn regarding insurance? Also, from a legal standpoint, does this sound like they're required to keep enough insurance to cover $100M?
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