Examples of Required Insurance Policy in a sentence
In this event the TENANT will be charged a Landlord Required Insurance Policy Fee of $12.00 per month and this shall be deemed to be additional RENT under the Lease and immediately due and payable by TENANT to LANDLORD.
In the event that TENANT fails to obtain, maintain and deliver to LANDLORD such written proof of the Liability Policy, LANDLORD shall have the right, but not the obligation, and TEANANT automatically elects for LANDLORD to procure such policy coverage on TENANT’s behalf through the Landlord Required Insurance Policy (“LRIP”).
In the event that TENANT fails to obtain, maintain and deliver to LANDLORD such written proof of the Liability Policy, LANDLORD shall have the right, but not the obligation, and TENANT automatically elects for LANDLORD to procure such policy coverage on TENANT’s behalf through the Landlord Required Insurance Policy (“LRIP”).
Prior to award, the contractor shall be required to demonstrate that it has obtained the Required Insurance, and that each Required Insurance Policy has been endorsed (i) to name Authority, its officers, employees and agents as additional insured parties, and (ii) to confer rights upon Authority to receive at least 30 days’ advance notice of cancellation or nonrenewal.
In addition to the Required Insurance Policy, Owner and Management recommend that TENANT obtain personal insurance.