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GIS » Topics » Third Party Liability

This excerpt taken from the GIS 10-K filed Jul 26, 2007.
Third Party Liability

 

Except as to matters represented, warranted or to be performed by SODIMA under this Agreement including the provisions of paragraphs III.7 and VI.3, the Licensee agrees to indemnify SODIMA, hold SODIMA harmless and protect SODIMA from and against any liability, expenses, damage or loss arising in connection with or resulting from the Licensee’s operations pursuant to this Agreement. The Licensee shall, at its expense, procure and maintain liability insurance to be written by a reputable insurance company or companies, with coverage of not less than U.S. dollars 500,000 combined personal injury and property damage arising out of any one incident including a broad form vendors endorsement. The provisions of the first sentence of this Section X shall survive the termination of this Agreement.

 

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