Building Insurance. Landlord will at all times during the Term carry a policy of insurance which insures the Building, including the Premises and the Work, if any, against loss or damage by fire or other casualty (namely, the perils against which insurance is afforded by a standard fire insurance policy); provided, however, that Landlord will not be responsible for, and will not be obligated to insure against, any loss of or damage to any personal property or trade fixtures of Tenant or any alterations which Tenant may make to the Premises or any loss suffered by Tenant due to business interruption. All insurance maintained by Landlord pursuant to this Article may be effected by blanket insurance policies.
Building Insurance. Throughout the Term, Landlord shall keep the buildings and improvements included in the Premises insured for the “full replacement value” thereof against loss or damage by perils customarily included under standard “all-risk” policies.
Building Insurance. During the Term Landlord shall maintain "All Risk" property insurance (including, at Landlord's option, earthquake and flood coverage, inflation endorsement, sprinkler leakage endorsement, and boiler and machinery coverage) covering the Project and the Premises, excluding coverage of all Tenant's Personal Property on or in the Premises, but including the Project and any Tenant Improvements. Such insurance shall also include insurance against loss of rents on an "All Risk" basis, including, at Landlord's option, earthquake and flood, in an amount equal to the Monthly Rent and Additional Rent, and any other sums payable under the Lease, for a period of twelve (12) months commencing on the date of loss. Such insurance shall name Landlord and its Agents as named insureds and include a lender's loss payable endorsement in favor of Landlord's lender (Form 438 BFU Endorsement or successor form). Tenant shall reimburse Landlord for Tenant's Project Percentage of the costs of such policies and any deductible amounts paid by Landlord under such policies, annually or upon such other periodic basis as Landlord shall elect, within ten (10) days of the date of receipt of a statement for the same, as Additional Rent. If the insurance premiums are increased after the Commencement Date due to an increase in premium rates, due to an increase in the valuation of the Premises or their replacement cost, due to additional or modified coverages, Tenant shall pay Tenant's Project Percentage of such increase within ten (10) days of notice of such increase. Tenant shall pay the entire increase in premium rates caused by Tenant's use of the Premises.
Building Insurance. Landlord shall maintain in effect insurance on the Building and Parking Facilities and Tenant Improvements with responsible insurers, on an “all risk” or “special form” basis, insuring the Building and Parking Facilities and Tenant Improvements in the amount of the full replacement cost thereof, excluding land. The insurance shall include an extended coverage endorsement of the kind required by an institutional lender to repair and restore the Building (including the Tenant Improvements) and the Parking Facilities. Landlord may, but shall not be obligated to, carry insurance against additional perils and/or in greater amounts, provided that any such additional insurance is of a type and amount carried by owner of comparable Class A office space in the Scottsdale metropolitan area. Landlord’s liability coverage on the Common Areas will insure Tenant against liability for the acts or omissions of Landlord and its employees, agents and representatives.
Building Insurance. Tenant shall obtain and maintain in force at all times during the Term hereof, at its own cost and expense, a policy of standard form fire insurance, together with an "all risk" endorsement and any other endorsements which may be a condition of an all-risk endorsement, covering the buildings and improvements on the Premises and all equipment and furnishings included therein to the extent of the full replacement value thereof in amount sufficient to prevent the Landlord or Tenant from being or becoming a co-insurer within the terms of the policy in question, but in no event less than the coverage requirements under any Fee Mortgage. Landlord shall reasonably determine the amount of coverage required under this Section 9.1
Building Insurance. Tenant will, at its cost and expense, keep and maintain in force the following policies of insurance:
(1) Insurance on the Improvements against loss or damage by fire and against loss or damage by any other risk now and from time to time insured against by "extended coverage" provisions of policies generally in force on improvements of like type in the city in which the Premises are located, and in builder's risk completed value form during construction, in amounts sufficient to provide coverage for the full insurable value of the Improvements; the policy for such insurance shall have a replacement cost endorsement or similar provision. "FULL INSURABLE VALUE," shall mean actual replacement value (exclusive of cost of excavation, foundations, and footings below the surface of the ground or below the lowest basement level), and such full insurable value shall be confirmed from time to time at the request of Landlord by one of the insurers.
Building Insurance. Except for Landlord's cost of the all-risk property insurance for the Improvements, as addressed in Section 20.4 hereof, if Landlord's cost of obtaining Landlord's Insurance (as defined herein) for the Property and/or the Building and the operations thereof exceeds the cost of obtaining such insurance for the first twelve (12) months following the Commencement Date, Tenant shall pay to Landlord, in a manner similar to this Section 7.3 within thirty (30) days after being billed therefore, an amount equal to Tenant's Share of such increased cost.
Building Insurance. Landlord shall obtain, as an Operating Expense, a policy or policies of insurance covering loss or damage to the Premises, in the amount of the full replacement value thereof, as the same may exist from time to time, but in no event less than the total amount required by lenders having liens on the Premises, against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, and special extended perils ("All Risk" as such term is used in the insurance industry), including twelve (12) months rent loss insurance. Landlord may also elect to insure the perils of flood and/or earthquake. Said insurance shall provide for payment of loss to Landlord, or to the holders of mortgages or the beneficiaries under deeds of trust on the Premises. If such insurance coverage has a deductible clause, the deductible amount shall not exceed Ten Thousand ($10,000) per occurrence, and Tenant will be liable for such deductible and Tenant agrees to reimburse Landlord for the entire cost of such premiums within thirty (30) days after demand therefor by Landlord. If the Premises are part of a group of buildings owned by Landlord which are adjacent to the Premises, then Tenant shall pay for any increase in the property insurance of such other buildings if said increase is caused by Tenant's acts, omissions, use or occupancy of the Premises.
Building Insurance. 1. Free Zone client are required to have their premises insured against Fire and Perils, ad per the Lease Agreement.
2. For Premises erected by the Client, the Client shall be responsible for arranging the insurance, which shall be in the joint names of the Client Company and the Fee Zone Authority, The Policy shall be sufficient to cover clearance and replacement costs of the structure, fixtures and fittings. The Policy must be presented before the building Completion Certificate can be issued.
Building Insurance. Landlord shall keep the Building, including the Improvements (section 1.05 and Exhibits D and E), insured against damage and destruction by fire, earthquake, vandalism, and other perils in the amount of the full replacement value of the Building, as the value may exist from time to time. The insurance shall include an extended coverage endorsement of the kind required by an institutional lender to repair and restore the Building.
