Fire and Extended Coverage Insurance. (a) Tenant shall keep the Premises and all leasehold improvements installed in the Premises by the Tenant (and all of Tenant's Trade Fixtures and Equipment, Tenant's merchandise, furnishings, equipment, personal property and plate glass, Tenant's wall covering, floor covering, carpeting and drape, and fixtures and equipment installed by Tenant) insured against loss or damage by fire, with the usual extended coverage and all risk endorsements, including flood and earthquake, in amounts not less than the full insurable, replacement value thereof above foundations. Tenant shall also obtain rental interruption insurance for the benefit of the Landlord. Landlord shall be named as an additional insured on said policy using ISO Form 20-26.
(b) If Tenant fails to obtain or maintain the policy required by section 10.1 (a) above, this shall be considered an Event of Default under this Lease which must be cured upon three (3) days written notice. In the event Tenant fails to maintain the insurance provided for herein, Landlord may obtain such policy and in such event, Tenant agrees to pay Landlord, as Additional Rent, all such insurance premiums separately assessed against the Premises or Tenant's Allocable Share, if such insurance is contained in a blanket policy covering the Shopping Center, as computed under Section "12.3", of any such insurance premiums for the Premises as computed under Section "12.3", as estimated by Landlord. In addition, Tenant shall pay to Landlord its Allocable Share of such premiums relating to the Common Areas, within twenty (20) days after Tenant receives a bxxx for such premium from the Landlord. For the insurance years in which this Lease commences and terminates, the provisions of this paragraph shall apply and Tenant's liability for its Allocable Share of any insurance for such year shall be subject to a pro-rata adjustment based on the number of days of said year(s) during which the term of this Lease was in effect.
Fire and Extended Coverage Insurance. Throughout the term, at Lessee's sole cost and expense, Lessee shall keep or cause to be kept insured, for the mutual benefit of City and Lessee, all improvements located on or appurtenant to the Premises, whether constructed at the time of signing this Lease Agreement or not, against loss or damage by fire and such other risks as are now or hereafter included in an extended coverage endorsement in common use of structures, including vandalism and malicious mischief. The amount of the insurance shall be sufficient to prevent either Lessee or City from becoming a co-insurer under the provisions of the policies, but in no event shall the amount be less than one hundred percent (100%) of the actual replacement cost, excluding the cost of replacing excavations and foundations, but without deduction for depreciation (herein called full insurable value). In the event payments are made for repairs, payments of proceeds for repair, restoration, or reconstruction of improvements shall be made monthly on architect's certificates until the work is completed and accepted. Any insurance proceeds remaining after complying with the provisions of this Lease Agreement relating to maintenance, repair, and reconstruction of improvements shall be the Lessee's sole property.
Fire and Extended Coverage Insurance. Tenant shall, at Tenant’s sole cost, maintain on Tenant’s Alterations and Tenant’s Personal Property (as defined below) a policy of standard fire and extended coverage and special form insurance, with vandalism and malicious mischief endorsements, coverage with respect to increased costs due to building ordinances, demolition coverage, boiler and machinery insurance, and sprinkler leakage coverage, in each case to the extent of at least 100 percent of full replacement value, and issued in the name of Tenant—with building ordinance protection, demolition coverage, boiler and machinery insurance, and sprinkler leakage coverage, in each case to the extent of at least 100 percent of full replacement value, and issued in the name of Tenant with Landlord, Landlord’s Lender, and Landlord’s designated agent as additional insureds. Such “full replacement value” shall be determined by the company issuing such policy at the time the policy is initially obtained. Not more frequently than once every two years, either Landlord or Tenant may, at its election, notify the other that it elects to have the replacement value redetermined by an insurance company. Such redetermination shall be made promptly and in accordance with the rules and practices of the Board of Fire Underwriters, or a like board recognized and generally accepted by the insurance company, and Landlord and Tenant shall be promptly notified of the results by the insurance company. Such policy shall be promptly adjusted according to such redetermination. The foregoing casualty insurance may be maintained under blanket policies so long as there is no diminution in the quality or availability of the required coverage.
Fire and Extended Coverage Insurance. During the Lease Term, Landlord shall maintain fire and extended coverage insurance on the Building, but shall not protect Tenant's property on the Leased Premises; and, notwithstanding the provisions of Section 9.01, Landlord shall not be liable for any damage to Tenant's property, regardless of cause, including the negligence of Landlord and its employees, agents and invitees. Tenant hereby expressly waives any right of recovery against Landlord for damage to any property of Tenant located in or about the Leased Premises, however caused, including the negligence of Landlord and its employees, agents and invitees; and, notwithstanding the provisions of Section 9.01 below, Landlord hereby expressly waives any rights of recovery against Tenant for damage to the Leased Premises or the Building which is insured against under Landlord's fire and extended coverage insurance. All insurance policies maintained by Landlord or Tenant as provided in the Lease shall contain an agreement by the insurer waiving the insurer's right of subrogation against the other party to this Lease.
Fire and Extended Coverage Insurance. Tenant shall maintain and pay for fire insurance, with extended coverage, covering the Premises in an amount equal to the replacement cost. Landlord shall be named as the insured owner in such policy. Tenant shall deliver such policy to Landlord prior to Commencement Date. Such policy shall contain a provision that at least thirty (30) days' prior written notice of any cancellation be give to Landlord; shall provide that all payments for losses under such policy be made to Landlord; and shall provide that no act or omission of Tenant shall be a basis for denial of Landlord's coverage under the policy. Tenant shall not do or cause to be done or permit on the Premises anything deemed extrahazardous on account of fire, and Tenant shall not use the Premises in any manner which will cause an increase in the premium rate for any insurance in effect on the Premises or a part of the Premises. If, because of anything done, caused to be done, permitted or omitted by Tenant or its agents, contractors, employees, invitees, licensees, servants, subcontractors or subtenants, the premium rate for any kind of insurance in effect on the Premises or any part of the Premises shall be raised, Tenant shall pay the amount of any such increase in premium. Tenant shall maintain and pay for all fire and extended coverage insurance on its contents in the Premises, including trade fixtures, equipment, machinery, merchandise or other personal property belonging to or in the custody of Tenant.
Fire and Extended Coverage Insurance. Lessee shall, at its expense, procure and keep in force at all times during the term of this Agreement with a company suitable to Lessor, insurance on the improvements on the Leased Premises against loss and damage by fire, aircraft and extended coverage perils. Such policy shall be in an amount of not less than one hundred percent (100%) of the replacement cost of improvements, with satisfactory evidence of such coverage furnished to Lessor.
Fire and Extended Coverage Insurance. Landlord shall, throughout the Lease Term, or any extension or renewal thereof, maintain fire and extended coverage (FEC) insurance on the property owned by Landlord located on the Center in such amounts and with such deductibles as Landlord shall determine. Landlord shall not in any way or manner insure any property of Tenant or any property that may be in the Premises not owned by Landlord. Tenant shall comply with all insurance regulations so that the lowest fire, lightning, explosion, extended coverage and liability insurance rates may be obtained; and nothing shall be done or kept in or on the Premises by Tenant which will cause an increase in the premium for any such insurance on the Premises or on any Building/s of which the Premises are a part or on any contents located therein, over the rate usually obtained for the proper use of the Premises permitted by this Lease or which will cause cancellation of any such insurance.
Fire and Extended Coverage Insurance. During the Term of this Lease, Landlord shall procure and maintain an All Risk fire and casualty insurance policy insuring the Building and improvements on the real property in an amount equal to the full replacement cost of such improvements, together with insurance against such other risks (including loss of rent) and in such amounts as Landlord deems appropriate. Such insurance shall be carried with companies authorized to do business in the State of Illinois and rated A or better by Best’s Insurance Rating System or its equivalent. In addition, Xxxxxx agrees to comply with all reasonable requirements of Landlord’s insurance company and to refrain from any activities, which would contravene or violate the reasonable requirements of Landlord’s insurance company. Notwithstanding anything to the contrary contained in this Section, the Landlord’s obligations to carry the insurance provided for in this Section shall be satisfied by the coverages extended to the Landlord by the Park District Risk Management Agency (“PDRMA”) or other similar risk management agency which provides risk management and insurance coverage for park districts so long as the coverages set forth in this Section are maintained. Landlord shall not be responsible for insuring or replacing Xxxxxx’s personal property located in the Lease Premises.
Fire and Extended Coverage Insurance. The City shall procure and maintain, or cause to be procured and maintained, throughout the Lease Term, insurance against loss or damage to any structures constituting any part of the Leased Premises caused by fire, lightning, vandalism and malicious mischief, such perils as are typically covered under an extended coverage endorsement insurance, and earthquake and flood insurance (but, with respect to such earthquake and flood insurance, only if such insurance is commercially available under reasonable terms), which may be maintained in conjunction with any other fire, extended coverage and earthquake and flood insurance maintained by the City. In the event such earthquake or flood insurance shall at any time during the Lease Term not be commercially available under reasonable terms, the City shall not be obligated to maintain earthquake or flood insurance during the period of such unavailability; provided, however, that in the event of any uninsured loss to the Leased Premises resulting from earthquake or flood, the City shall apply for and use its best efforts to obtain financial assistance from the United States of America and the State of California to be used for the repair, reconstruction or replacement of the Leased Premises. Said property insurance shall, as nearly as practicable, cover loss or damage by explosion, windstorm, riot, aircraft, vehicle damage, smoke and such other perils as are normally covered by such insurance. Such insurance shall be in an amount equal to the greater of (a) the aggregate principal amount of the Outstanding Bonds (to the extent obtainable), or (b) one hundred percent (100%) of the replacement cost of any structures constituting any part of the Leased Premises. Such insurance may be subject to a deductible of not to exceed $250,000 for any one loss except that, as respects the above-referenced earthquake coverage, such coverage may be subject to deductible of not to exceed ten percent of said replacement cost for any one loss. In the event of any insured earthquake loss to the Leased Premises, the City shall apply for and use its best efforts to obtain financial assistance from the United States of America and the State of California to be used for the payment of such deductible. The coverage required to be provided by the City under this Section shall be written on a deductible basis and not on a self- insured retention basis. Subject to the applicable provisions of the Prior Lease while the same is in effect, the N...
Fire and Extended Coverage Insurance. During the term of this Lease, Landlord shall maintain fire and extended coverage insurance on the Building in amounts customarily maintained by landlords of similar buildings, but shall not protect Tenant's property on the Leased Premises; and, notwithstanding the provisions of Section 9.01, Landlord shall not be liable for any damage to Tenant's property, regardless of cause, including the negligence of Landlord and its employees, agents, and invitees. Tenant hereby expressly waives any right of recovery against Landlord (or any other tenant of the Building) for damage to any property of Tenant located in or about the Leased Premises, however caused, including the negligence of Landlord and its employees, agents, and invitees; and, notwithstanding the provisions of Section 9.01 below, Landlord hereby expressly waives any rights of recovery against Tenant for damage to the Leased Premises or the Building which is insured against under Landlord's fire and extended coverage insurance. All insurance policies maintained by Landlord or Tenant as provided in this section shall contain an agreement by the insurer waiving the insurer's right of subrogation against the other party to this Lease and agreeing not to acquire any rights of recovery which the insured has expressly waived prior to loss.
