Damage by insured risks Sample Clauses

The 'Damage by insured risks' clause defines the responsibilities and procedures when property covered by an insurance policy suffers damage due to risks that are specifically insured against. Typically, this clause outlines how repairs or reinstatement should be handled, who is responsible for arranging the work, and how insurance proceeds are to be applied, often requiring the landlord or tenant to use insurance payouts to restore the property. Its core function is to ensure that both parties understand their obligations following insured damage, thereby minimizing disputes and ensuring the property is promptly restored to its original condition.
Damage by insured risks. 23.1 The Landlord is responsible for insuring the Building, but will only insure the Tenant’s personal possessions if the Tenant requested it and has paid the relevant premium. 23.2 The insured risks may vary from time to time and will depend on the terms of the Landlord’s insurance policy. Typically, insured risks will include damage by fire, lightning, explosion, malicious persons, storm, flood, escape of water, subsidence and impact by vehicles or aircraft. 23.3 If the Room becomes uninhabitable or inaccessible because of damage by an insured risk then (subject to clauses 16.5 and 16.6 (Landlord’s right to end the tenancy), clauses 17.6 and 17.7 (▇▇▇▇▇▇’s right to end the tenancy) clause 23.4 (Tenant voids the insurance) and clause 23.5 (limiting the Landlord’s liability): 23.3.1 the Landlord will: 23.3.1.1 use reasonable endeavours to provide alternative accommodation for the Tenant until the Room is once more accessible and fit for habitation or until the end of the Tenancy Period, whichever occurs first; 23.3.1.2 reinstate the Room and Contents as soon as reasonably practicable; 23.3.1.3 refund to the Tenant any pre-paid Rent for the period after the date of the damage if the Landlord is unable to provide alternative accommodation; 23.3.1.4 not be liable to pay the Tenant any Damages unless they are paid by the insurer; and 23.3.2 the Tenant will: 23.3.2.1 move into alternative accommodation if and for so long as it is offered by the Landlord, provided the alternative accommodation is located within 3 miles of the Building or within 3 miles of the Tenant’s usual place of study; 23.3.2.2 move back into the Room once it has been reinstated; 23.3.2.3 pay the Rent when it falls due; 23.3.2.4 not be liable to pay any additional rent, even if the alternative accommodation is of a higher value than the Room; 23.3.2.5 be entitled to Damages equivalent to the difference in value between the alternative accommodation and the Room, if the alternative accommodation is normally let at a lower rate than the Rent, for the period that the Tenant occupies the alternative accommodation. 23.4 The Landlord shall have no liability to the Tenant (under clause 23.3.1 or otherwise) and the Tenant will remain liable to pay the Rent if the insurer refuses to pay for alternative accommodation because of the Tenant’s own action or neglect. 23.5 The Landlord’s liability to the Tenant in respect of any insured event is limited to the amount paid to the Landlord by the insurer div...
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Damage by insured risks. In the event of the Demised Premises or any part thereof at any time during the Term being damaged or destroyed by the insured risks or any of them so as to be unfit for occupation and use and if the Landlords policy or policies of insurance shall not have been rendered void or voidable or payment of the policy moneys refused in whole or in part by reason of any act or default of the Tenant then the rent hereby reserved or a fair proportion thereof according to the nature and extent of the damage sustained shall be suspended until the Demised Premises shall again be rendered fit for occupation and use and any dispute concerning this clause shall be determined by arbitration in accordance with the Arbitration ▇▇▇ ▇▇▇▇ and any statutory modification or re-enactment thereof
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Damage by insured risks. PROVIDED FURTHER that where the Demised Premises are destroyed or damaged by any of the Insured Risks then the rebuilding repair or reinstatement thereof made necessary by such destruction or damage undertaken or to be undertaken pursuant to the Superior Landlord's covenant under the Headlease to this effect shall not be included in this clause 5.4 except to the extent that payment of any monies payable under any policy of insurance shall be refused by reason of any act neglect or default of the Tenant or its undertenants or its or their respective servants agents licensees or invitees
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Damage by insured risks. If the Property is or the Common Parts are damaged by any of the risks to be insured under this lease and as a result of that damage the Property or any part of it cannot be used for the Use Allowed:- 14.1 if at any time it is unlikely that the Property or the Common Parts will be fully restored within two years from the date of the damage the Landlord may end this lease by giving one month's notice to the Tenant during this time period (but not later) in which case 14.1.1 the insurance money belongs to the Landlord; and 14.1.2 the Landlord’s obligation to make good the damage ceases 14.2 if the Property or the Common Parts are not fully restored within two years from the date of damage and the Landlord has not given notice to the Tenant under this clause the Tenant may end this lease by giving written notice (taking immediate effect) to the Landlord after the end of this time period but not earlier 14.3 any dispute arising under any part of this clause is to be decided by arbitration
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Related to Damage by insured risks

  • Tenant’s Liability Insurance Tenant shall, at Tenants sole cost and expense, provide comprehensive general liability insurance, fully covering and indemnifying Landlord and Landlord’s officers, directors, shareholders, partners, principals, employees, agents, representatives; and other related entities and individuals (together with, at Landlord’s election, Landlord’s lender), as additional insureds, against any and all claims arising from personal injury, death, and/or property damage occurring in or about the Premises or the Property during the period of Tenant’s possession (actual and/or constructive) at the Premises. The initial limits of such insurance shall be at least $2,000,000 combined single liability limit. Tenant shall also, at its sole cost and expense, obtain workers’ compensation insurance for the protection of its employees such as will relieve Landlord of all liability to such employees for any and all accidents that may arise on or about the Premises or the Property. All insurance required to be carried by Tenant shall be primary and noncontributory to any insurance carried by Landlord, regardless of the absence of negligence or other fault of Tenant for alleged injury, death and/or property damage. Each policy of insurance required to be carried by Tenant hereunder shall: (a) contain cross-liability and contractual liability endorsements, (b) provide that no cancellation or reduction in coverage shall be effective until thirty (30) days after written malice to Landlord and Landlord’s lender, (c) be issued by an insurer licensed in California and reasonably approved by Landlord, and (d) shall insure Tenant’s performance of the Indemnity provisions of Article 13, but the amount of such Insurance shall not limit Tenant’s liability nor relieve Tenant of any obligation hereunder. Prior to the Commencement Date, Tenant shall deliver a certificate evidencing all such insurance to Landlord. Tenant shall deliver a renewal or binder of such policy at least thirty (30) days prior to expiration thereof. Tenant shall, at Tenant’s expense, maintain such other liability insurance as Tenant deems necessary to protect Tenant. Tenant shall be in material breach of this Lease if Tenant fails to obtain the insurance required under this Section, or if Tenant obtains insurance with terms, conditions and/or exclusions that are inconsistent with the requirements and terms of this Lease.

  • DAMAGE BY CASUALTY If during the Term or previous thereto, the Premises shall be destroyed or so damaged by fire or another casualty as to become un-leasable, then, at the option of the Lessor, this Agreement shall terminate from the date of such damage or destruction. The Lessor shall exercise this option to so terminate this Agreement by notice in writing delivered to the Lessee within [#] days after such casualty. Upon such notice, the Lessee shall immediately surrender said Premises and all interest therein to the Lessor, and the Lessee shall pay Rent up until the date of casualty. If the Lessor does not elect to terminate this Agreement, this Agreement shall continue in full force and effect, and the Lessor shall expeditiously repair the Premises, placing the same in as good a condition as they were at the time of the damage or destruction. Rent shall be prorated, taking into account the amount of time the Lessee is unable to occupy the Premises. If the Premises are slightly damaged by fire or another casualty but are still leasable, the Lessor shall expeditiously repair the same with no rent proration. The Lessee may not make a claim for compensation because of any inconvenience or loss of business arising from the necessity of repairing any portion of the building or the Premises.

  • Contractor's Liability Insurance The contractor shall purchase and maintain statutory limits of Worker's Compensation, Public Liability and Automobile Liability as approved by the Regents at the time of signing of the contract. The Regents shall be listed as a loss payee and/or additional insured. Worker's Compensation, Public Liability and Automobile Liability shall include at least the following coverage:

  • Lessor’s Insurance The Lessor, the Indenture Trustee or the Owner Participant may insure the Airframe or any Engine at its own cost and expense, including insuring the Aircraft for amounts in excess of the Stipulated Loss Value of the Aircraft, provided that any insurance so maintained by the Lessor, the Indenture Trustee or the Owner Participant shall not result in a reduction of coverage or amounts payable under insurance required or permitted to be maintained by the Lessee under this Article 13 or increase the cost to the Lessee of maintaining such insurance; provided further, that any insurance policies of the Lessor, the Indenture Trustee or the Owner Participant insuring the Airframe or any Engine shall provide for a release to the Lessee of any and all salvage rights in and to the Airframe or any Engine.

  • Commercial General Liability Insurance Supplier will maintain insurance covering its operations, with coverage on an occurrence basis, and must be subject to terms no less broad than the Insurance Services Office (“ISO”) Commercial General Liability Form CG0001 (2001 or newer edition), or equivalent. At a minimum, coverage must include liability arising from premises, operations, bodily injury and property damage, independent contractors, products-completed operations including construction defect, contractual liability, blanket contractual liability, and personal injury and advertising injury. All required limits, terms and conditions of coverage must be maintained during the term of this Contract. Minimum Limits: $1,000,000 each occurrence Bodily Injury and Property Damage $1,000,000 Personal and Advertising Injury $2,000,000 aggregate for products liability-completed operations $2,000,000 general aggregate