Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available). (b) The FCRHA and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys. (c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA and any other parties designated by the FCRHA with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required. (d) Tenant shall provide written notice to the FCRHA promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant. (e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA may procure the same, and Tenant shall be obligated to reimburse the FCRHA as Additional Costs hereunder for all costs incurred by the FCRHA in connection therewith.
Appears in 7 contracts
Samples: Deed of Lease, Deed of Lease, Deed of Lease
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA Landlord and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide written notice to the FCRHA Landlord promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA Landlord may procure the same, and Tenant shall be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewith.
Appears in 4 contracts
Samples: Ground Lease, Ground Lease, Deed of Lease
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA Landlord and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide written notice to the FCRHA Landlord promptly after Tenant Xxxxxx is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA Landlord may procure the same, and Tenant shall be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewith.
Appears in 3 contracts
Samples: Ground Lease, Ground Lease, Deed of Lease
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall this Article 7 will be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, Virginia and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA Landlord and Tenant shall will cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall will execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall will not carry separate liability or property insurance concurrent in form or contributing in to the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall will immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall will cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall will provide written notice to the FCRHA Landlord promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall will procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall will procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) 30 days before the expiration thereof. If Tenant shall will fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA Landlord may procure the same, and Tenant shall will be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewith.
Appears in 2 contracts
Samples: Deed of Lease, Deed of Lease
Additional Insurance Requirements. (a) All insurance policies Tenant is required by Section 7.01 shall to carry under this Article shall: (1) be issued by responsible companies authorized a company that is licensed to issue insurance do business in the Commonwealth of Virginia, jurisdiction in which the Building is located and have an AM Best that has a rating of not less than equal to or exceeding A:VI VII from the then current Best’s Key Rating Guide; (or other similar rating 2) in the event an AM Best rating is no longer available).
case of the commercial general liability insurance, name Landlord, the property manager and/or managing agent of the Building and each Senior Party (bas defined in Section 15.1) The FCRHA and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA and any other parties party reasonably designated by the FCRHA with a bona fide insurable interest are included therein Landlord, as additional insureds insureds; (3) in the case of the all-risk or special form cause of loss property insurance and business interruption insurance require that such policy shall remain in full force and effect notwithstanding that the insured may have waived its right of action against any party prior to the occurrence of a loss; (4) be reasonably acceptable in form and content to Landlord; (5) be primary and noncontributory with respect to liability the Landlord and loss payees with respect the additional insureds; (6) contain an endorsement, prohibiting cancellation, failure to propertyrenew, as their interests may appear, with loss payable as provided reduction of amount of insurance or material reduction in this Lease. Tenant shall immediately notify coverage without the FCRHA of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide written notice to the FCRHA promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA at least insurer first providing Landlord thirty (30) days before prior written notice (ten [10] days prior written notice for nonpayment of premiums) of such proposed action; and (7) not contain any deductible provision that is not commercially reasonable. Landlord reserves the expiration thereofright from time to time to require Tenant to obtain higher minimum amounts of commercial general liability insurance, if and to the extent inflation or other market factors have rendered the prior applicable insurance limit inadequate; provided that Landlord shall not make such adjustments more frequently than once every five (5) years unless required to do so by a lender. If Tenant shall fail deliver a certificate of all such insurance and receipts evidencing payment therefor (and, upon request, copies of all required insurance policies, including endorsements and declarations) to procure Landlord no later than the date on which Tenant first accesses the Property for any purpose and at such policies or renewals other times as Landlord may request. Until Landlord receives the insurance certificate, Landlord may deny Tenant access to the Building including access under Exhibit C and any delay in completion as a result thereof in accordance herewith, the FCRHA may procure the same, and Tenant shall be obligated to reimburse the FCRHA as Additional Costs hereunder for all costs incurred by the FCRHA in connection therewitha Tenant Delay.
Appears in 2 contracts
Samples: Office Lease (Impinj Inc), Office Lease (Impinj Inc)
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall this Article 7 will be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, Virginia and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA Landlord and Tenant shall will cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall will execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall will not carry separate liability or property insurance concurrent in form or contributing in to the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall will immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall will cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall will provide written notice to the FCRHA Landlord promptly after Tenant Xxxxxx is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall will procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall will procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) 30 days before the expiration thereof. If Tenant shall will fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA Landlord may procure the same, and Tenant shall will be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewith.
Appears in 2 contracts
Samples: Deed of Lease, Deed of Lease
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 this Article 7 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA Landlord and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide written notice to the FCRHA Landlord promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA Landlord may procure the same, and Tenant shall be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewith.
Appears in 2 contracts
Samples: Deed of Lease, Comprehensive Agreement
Additional Insurance Requirements. All of the insurance policies (including endorsements) required hereunder: (a) All insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in expressly provide that the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant coverage shall not carry separate liability be materially changed, reduced or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA and any other parties designated by the FCRHA with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA of the carrying of any such separate insurance and shall cause copies of the declaration page(scanceled absent thirty (30) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide calendar days' prior written notice to the FCRHA promptly after Landlord; (b) shall be limited to insure Landlord's insurable interest alone (and not that of Tenant) or if said policies are to include the insurable interest of Tenant, shall contain an endorsement to the effect that Landlord's insurable interest shall not be reduced or invalidated by any act or neglect of Tenant is aware that or of any subtenant of the Premises, nor by the use of the Premises by such party for purposes more hazardous than are permitted by the policy; (c) shall not contain any clause which would result in the insured thereunder being required to carry insurance claim with respect to the Premises or insurance proceeding has been filed against Tenant.
the property covered thereby, in an amount equal to a minimum specific percentage of the full replacement cost of such property in order to prevent the insured named therein from becoming a co- insurer of any loss under such policy; and (ed) shall be payable in the United States in U.S. dollars. The Tenant shall procure provide the Landlord, within ten (10) business days following Landlord's written request, with certified copies of said insurance policies for all from the insurers at such times as may be necessary (but in no event less than once each year) to show that insurance is being maintained as required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of Section 17. In the same to the FCRHA at least thirty (30) days before the expiration thereof. If event Tenant shall fail to procure any deliver to Landlord such certified copies of policies or renewals evidencing that the same are in full force and effect, Landlord may undertake to obtain such insurance and the full cost thereof in accordance herewith, the FCRHA may procure the same, and Tenant shall be obligated to reimburse the FCRHA payable hereunder by Tenant as an Additional Costs hereunder for all costs incurred by the FCRHA in connection therewithPayment Obligation.
Appears in 1 contract
Samples: Lease Agreement (Simclar Inc)
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA Landlord and Tenant shall will cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall Xxxxxx will execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which that may reasonably be required for the purpose of obtaining the recovery of any such insurance moneysmoney.
(cb) Tenant shall will not carry separate liability or property insurance concurrent in form or contributing in to the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall will immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall will cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(dc) Tenant shall will provide written notice to the FCRHA Landlord promptly after Tenant Xxxxxx is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(ed) Tenant shall will procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall will procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) 30 days before the expiration thereof. If Tenant shall fail fails to procure any such policies or renewals thereof in accordance herewithwith this Lease, the FCRHA Landlord may procure the same, and Tenant shall will be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewithprocuring such insurance.
Appears in 1 contract
Samples: Lease
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant Xxxxxx shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by TenantXxxxxx, unless the FCRHA and any other parties designated by the FCRHA with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide written notice to the FCRHA promptly after Tenant Xxxxxx is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA may procure the same, and Tenant shall be obligated to reimburse the FCRHA as Additional Costs hereunder for all costs incurred by the FCRHA in connection therewith.
Appears in 1 contract
Samples: Deed of Lease
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 shall this Article 7 will be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, Virginia and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA . Landlord and Tenant shall will cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall will execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) . Tenant shall will not carry separate liability or property insurance concurrent in form or contributing in to the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall will immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall will cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) . Tenant shall will provide written notice to the FCRHA Landlord promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) . Tenant shall will procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall will procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) 30 days before the expiration thereof. If Tenant shall will fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA Landlord may procure the same, and Tenant shall will be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewith.
Appears in 1 contract
Samples: Deed of Lease
Additional Insurance Requirements. (a) All insurance policies required by Section 7.01 this Article 7 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available).
(b) The FCRHA . Landlord and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA Landlord such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) . Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA Landlord and any other parties designated by the FCRHA Landlord with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA Landlord of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) . Tenant shall provide written notice to the FCRHA Landlord promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) . Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA Landlord at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA Landlord may procure the same, and Tenant shall be obligated to reimburse the FCRHA Landlord as Additional Costs hereunder for all costs incurred by the FCRHA Landlord in connection therewith.
Appears in 1 contract
Samples: Deed of Lease
Additional Insurance Requirements. (a1) On the general liability policy Sublessee must name Realogy Holdings Corp. and Sublessor as additional insureds. All insurance policies required by Section 7.01 shall be issued primary to any self-insurance or insurance policies carried by Sublessor or Landlord. Both Sublessor and Sublessee agree that neither party shall be responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (other for consequential indirect or other similar rating in the event an AM Best rating is no longer available)special damages.
2) Sublessee agrees to furnish Sublessor, (bi) The FCRHA contemporaneously with Sublessee’s execution of this Sublease and Tenant shall cooperate in connection (ii) on each anniversary of the Commencement Date, with a certificate of insurance evidencing the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c) Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to Section. Such certificate will provide that said insurance may not be furnished by Tenantcanceled or materially modified for any reason, unless the FCRHA and any other parties designated by the FCRHA with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to propertyincluding without limitation, as their interests may appearnon-payment of premium, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide written notice to the FCRHA promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA except upon at least thirty (30) days before prior written notice to Sublessor c/o Realogy, 000 Xxxx Xxxxxx, Xxxxxxx, Xxx Xxxxxx 00000, Attention: Corporate Real Estate or to Sublessor at such other address as Sublessor may designate from time to time, in writing. Certificates evidencing the renewal of such policy shall be delivered to Sublessor as soon as available but no later than ten (10) days prior to the expiration thereofdate of such policy. Sublessee shall be in material breach of this Sublease if Sublessee fails to provide said certificate or if any insurance required hereunder is not procured or is canceled or materially modified without the consent of Sublessor. If Tenant at any time Sublessee fails or neglects to maintain the insurance required pursuant to this Sublease or fails or neglects to deliver evidence of insurance as required pursuant hereto, Sublessor may, at its option, but without any obligation to do so, (a) terminate this Sublease or (b) upon five (5) days prior written notice thereof, effect such insurance as the agent of and at the expense of Sublessee, by taking out policies in companies satisfactory to Sublessor for a period not exceeding one (1) year in any one policy. Such insurance shall fail be kept in force as long as necessary to procure protect Sublessor’s interest. Sublessor shall not be limited in the proof of any damages which it may claim against Sublessee, arising out of or by reason of Sublessee’s failure to provide and keep in force insurance as provided herein, to the amount of the insurance premium or premiums not paid or incurred by Sublessee which would have been payable upon such insurance. Sublessor shall be entitled to recover as damages for such breach the uninsured amount of any loss or damages and the costs and expense of suit suffered or incurred during any period when Sublessee shall have failed or neglected to provide such insurance. The cost of any such policies or renewals thereof in accordance herewith, insurance procured by Sublessor shall be added to the FCRHA may procure monthly rent for the samefollowing month, and Tenant same shall be obligated to reimburse considered as part of the FCRHA rent, and Sublessor shall have the same rights and privileges for the collection thereof as Additional Costs hereunder for all costs incurred by the FCRHA in connection therewithif same were rent.
Appears in 1 contract
Samples: Sublease Agreement (Wright Investors Service Holdings, Inc.)
Additional Insurance Requirements. 1) Each insurance policy listed above (aexcept workers' compensation) must name Cendant Operations, Inc. and Prime Landlord as insureds under the policy (Additional Named Insureds). All insurance policies required by Section 7.01 shall be issued primary to any self-insurance or insurance policies carried by responsible companies authorized to issue insurance in the Commonwealth of Virginia, and have an AM Best rating of not less than A:VI (Landlord or other similar rating in the event an AM Best rating is no longer available)Prime Landlord.
(b) The FCRHA and Tenant shall cooperate in connection with the adjustment and collection of any insurance recoveries that may be due in the event of loss, and Tenant shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required for the purpose of obtaining the recovery of any such insurance moneys.
(c2) Tenant shall not carry separate liability or property agrees to furnish Landlord and Prime Landlord, (i) contemporaneously with Tenant's execution of this Lease AND (ii) on each anniversary of the Commencement Date, with a certificate of insurance concurrent in form or contributing in evidencing the event of loss with that insurance required by this Lease to Section. Such certificate will provide that said insurance may not be furnished by Tenantcanceled or materially modified for any reason, unless the FCRHA and any other parties designated by the FCRHA with a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to propertyincluding without limitation, as their interests may appearnon-payment of premium, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter required.
(d) Tenant shall provide written notice to the FCRHA promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA except upon at least thirty (30) days before prior written notice to Landlord at 1 Cxxxxx Xxxxx, Xxxxxxxxxx, Xxx Xxxxxx 00000, Xttention: Legal or to Landlord at such other address as Landlord may designate from time to time, in writing. Certificates evidencing the renewal of such policy shall be delivered to Landlord and Prime Landlord no later than thirty (30) days prior to the expiration thereofof such policy. Tenant shall be in material breach of this Sublease if Tenant fails to provide said certificate or if any insurance required hereunder is not procured or is canceled or materially modified. If at any time Tenant fails or neglects to maintain the insurance required pursuant to this Sublease or fails or neglects to deliver evidence of insurance as required pursuant hereto, Landlord may, at its option, but without any obligation to do so, a) terminate this Sublease or b) upon five (5) days prior written notice thereof, effect such insurance as the agent of and at the expense of Tenant, by taking out policies in companies satisfactory to Landlord for a period not exceeding one (1) year in any one policy. Such insurance shall be kept in force as long as necessary to protect Landlord's interest. Landlord shall not be limited in the proof of any damages which it may claim against Tenant, arising out of or by reason of Tenant's failure to provide and keep in force insurance as provided herein, to the amount of the insurance premium or premiums not paid or incurred by Tenant which would have been payable upon such insurance. Landlord shall be entitled to recover as damages for such breach the uninsured amount of any loss or damages and the costs and expense of suit suffered or incurred during any period when Tenant shall fail have failed or neglected to procure provide such insurance. The cost of any such policies insurance procured by Landlord shall be added to the monthly Rent for the following month, and same shall be considered as part of the Rent, and Landlord shall have the same rights and privileges for the collection thereof as if same were Rent.
3) In the event of any loss or renewals thereof in accordance herewithdamage to the Premises or any property, equipment, fixtures of Tenant, Tenant waives all claims against the FCRHA may procure the same, Landlord and Prime Landlord for any such loss or damage and Tenant shall be obligated look only to reimburse the FCRHA as Additional Costs hereunder any insurance which it has obtained to protect against such loss and Tenant shall obtain, for all costs incurred by the FCRHA in connection therewitheach policy of such insurance, provisions waiving any claim against Landlord and Prime Landlord for loss or damage.
Appears in 1 contract
Samples: Sublease Agreement (Biopure Corp)
Additional Insurance Requirements. Where applicable, each policy of insurance required to be carried by Tenant pursuant to Part III, Sections 14.1(a) and 14.1(b):
(a) All shall name Landlord, Landlord’s lender and one additional affiliated or third party manager or operator of the Project (which operator is currently Raleigh Studios) as additional insureds (however this requirement shall not be applicable to the insurance policies required by Section 7.01 shall be issued by responsible companies authorized to issue insurance in the Commonwealth of Virginia, under Sections 14.1(b) and have an AM Best rating of not less than A:VI (or other similar rating in the event an AM Best rating is no longer available14.1(c).);
(b) The FCRHA shall be primary insurance that provides that the insurer shall be liable for the full amount of the loss without the right of contribution from any other insurance coverage of Landlord;
(c) shall be in a form reasonably satisfactory to Landlord;
(d) shall be carried with companies rated A- or better by AM Best and a Best’s Financial Size Category rating of at least “X,” as set forth in the most current edition of “Best’s Insurance Reports” (unless otherwise approved by Landlord), or such higher rating as may be required by any Lender;
(e) shall provide that the policy shall not be subject to cancellation, lapse, or change, except after at least 30 days’ prior written notice to Landlord;
(f) shall not have a deductible in excess of a commercially reasonably amount; and
(g) shall contain a severability clause. A copy of each policy evidencing the insurance required to be carried by Tenant pursuant to Part III, Section 14.1 or a certificate of the insurer, certifying that the policy has been issued, which provides the coverage required by Part III, Section 14.1 and which contains the specified provisions, shall cooperate in connection with be delivered to Landlord prior to the adjustment time Tenant takes possession of the Leased Premises and collection upon renewal of those policies, not less than 30 days prior to the expiration of the term of the coverage. If Tenant fails during the Lease Term to maintain any insurance recoveries that may required to be due in the event of lossmaintained by Tenant under this Lease, then Landlord may, at its election, upon providing Tenant with three (3) business days prior notice, arrange for any such insurance, and Tenant shall execute and deliver to the FCRHA such proofs of loss and other instruments which may reasonably be required reimburse Landlord, as Rent, for the purpose of obtaining the recovery of any premiums for any such insurance moneys.
(c) within ten business days after Tenant shall not carry separate liability or property insurance concurrent in form or contributing in the event of loss with that required by this Lease to be furnished by Tenant, unless the FCRHA and any other parties designated by the FCRHA with receives a bona fide insurable interest are included therein as additional insureds with respect to liability and loss payees with respect to property, as their interests may appear, with loss payable as provided in this Lease. Tenant shall immediately notify the FCRHA copy of the carrying of any such separate insurance and shall cause copies of the declaration page(s) of the same to be delivered as in this Lease hereinafter requiredpremium notice.
(d) Tenant shall provide written notice to the FCRHA promptly after Tenant is aware that any insurance claim or insurance proceeding has been filed against Tenant.
(e) Tenant shall procure policies for all such insurance required by any provision of this Lease for periods of not less than one (1) year (if such policy term is customary and available) and shall procure renewals or replacements thereof from time to time and deliver evidence of the same to the FCRHA at least thirty (30) days before the expiration thereof. If Tenant shall fail to procure any such policies or renewals thereof in accordance herewith, the FCRHA may procure the same, and Tenant shall be obligated to reimburse the FCRHA as Additional Costs hereunder for all costs incurred by the FCRHA in connection therewith.
Appears in 1 contract
Samples: Lease (Marvel Entertainment, Inc.)