Fire and Other Insurance. Last Chance shall, at its sole cost and expense, at all times during the Lease Term keep the Property and Premises insured against loss or destruction by fire and other perils, including vandalism and malicious mischief, commonly covered under the standard extended coverage endorsement in Washoe County, Nevada. The insurer shall be rated at least A+ by A.M. Best or a comparable rating by a similar rating agency. Attached hereto as Exhibit 4 is a schedule of all such policies and coverages maintained by Landlord as of the date of execution of this Lease. Subject to the insurer rating requirements provided herein, Last Chance shall, at a minimum, maintain like policies and coverages. The amount of such insurance shall be increased or decreased periodically upon the renewal of each insurance policy provided by Last Chance under this Section 7 to account for inflation. Any loss payable under any policy described in this Section 7.1 shall be paid by the insurance company to Landlord to be used solely to fund the repair or replacement of the damaged building or improvement pursuant to this Lease. Any amount not used to fund repairs or replacements shall be paid over to or retained by Last Chance, without restriction on use. In the event of a loss Last Chance may, if it is entitled to do so under the terms of the Option To Purchase the Gold Ranch Casino Property, exercise its option to purchase or, if appropriate, its right of first refusal, subsequent to the loss. In the event Last Chance exercises its option to purchase or right of first refusal, any insurance proceeds for loss payable under any policy described in this Section 7 shall be paid by the insurance company to Last Chance, as the loss payee, to be applied to the purchase price under the Option To Purchase the Gold Ranch Casino Property. Any insurance proceeds in excess of the purchase price shall become the sole and exclusive property of Last Chance. Landlord shall be named as an additional insured on the policies and the policies shall also contain cross-liability endorsements. All insurance required under this Lease shall contain an endorsement requiring thirty (30) days’ written notice from the insurance company to both parties before cancellation or change in the coverage, scope or amount of any policy. Each policy, or a certificate of the policy, together with evidence of payment of premiums, shall be deposited with the Landlord at the commencement of the term, and on renewal of the policy when ...
Fire and Other Insurance. During the Lease Term, COMPANY at its sole expense, shall obtain and maintain in full force, in the amount of $1,160,000.00 Dollars (One Million One Hundred Sixty Thousand Dollars 00/100, United States Currency), or as modified herein, a policy or policies of insurance for fire, lightning, explosion, falling aircraft, smoke, windstorm, earthquake, hail, vehicle damage, volcanic eruption, strikes, civil commotion, vandalism, riots, malicious mischief, debris removal, steam boiler or pressure object or machinery breakage if applicable, and flood insurance, on all the Leased Property, including but not limited to the shell building and interior fit-up. COMPANY shall also obtain and maintain annual rental insurance in the amount of the annual rent provided for herein in favor of PIMSA. COMPANY shall be responsible for maintaining insurance on all of COMPANY's own property. Except for insurance upon COMPANY's property, PIMSA or its appointee shall be named the COMPANY's beneficiary of any and all proceeds from any such policy or policies, as their interests may appear.
Fire and Other Insurance. Effective as of the date of commencement of the Lease, COMPANY will obtain insurance covering the building, building improvements, its contents and third parties damages, in an amount sufficient to provide for their replacement. All insurance policies will name IAMSA as the beneficiary. If such policies are not obtained on or before the commencement date, IAMSA will contract an insurance policy equivalent to cover such contingencies and COMPANY will be responsible to reimburse IAMSA the amount for the corresponding premiums immediately upon demand.
Fire and Other Insurance. During the Lease Term, COMPANY at its sole expense, shall obtain and maintain in full force, in the amount of US$1,160,000.00 Dollars (One Million One Hundred Sixty Thousand Dollars 00/100, Currency of the United States of America), or as modified herein, a policy or policies of insurance, at replacement value, for fire, lightning, explosion, falling aircraft, smoke, windstorm, earthquake, hail, vehicle damage, volcanic eruption, strikes, civil commotion, vandalism, riots, malicious mischief, debris removal, steam boiler or pressure object or machinery breakage if applicable, and flood insurance, on all the Leased Property, including but not limited to the Shell Building, PIMSA's Improvements and COMPANY's Improvements. COMPANY shall also obtain and maintain annual rental insurance in the amount of the annual rent provided for herein in favor of PIMSA. COMPANY shall be responsible for maintaining insurance on all of COMPANY's own property. Except for insurance upon COMPANY's property, PIMSA or its appointee shall be named the COMPANY's beneficiary of any and all proceeds from any such policy or policies, such as their interests may appear.
Fire and Other Insurance. Lessee shall, at Lessee’s expense, at all times from and after the date hereof and during the term, maintain on the Improvements now or hereafter located on the Premises a policy of standard fire and extended coverage insurance, with vandalism and malicious mischief endorsements, to the extent of the full replacement cost of any such buildings and other insurable Improvements located on the Premises from time to time. The policy shall name as insureds the Lessor and Lessee, as their interests appear. The "replacement cost" of the building and other Improvements to be insured under this paragraph shall be determined by the company issuing the insurance policy at the time the policy is initially obtained.
Fire and Other Insurance. 11.1 The Landlord, at the cost and expense of the Tenant and all other tenants in the Building, shall take out and maintain, on behalf of the Landlord and the Tenant, such insurance as is reasonable for a prudent owner of a building similar to the Building which shall include:
11.1.1 Insurance payable to the Landlord, against all risks of physical loss or damage including earthquake and flood to the extent of the full insurable value of the Leased Premises, and against loss of rental income (including base rent, taxes, insurance and any other amounts which may become payable to the Landlord hereunder) and against crime.
11.1.2 legal liability insurance including the Landlord's interest for bodily injury or death or property damage resulting from each occurrence in such amount as may be reasonable from time to time, but, in any event, not less than Five Million ($5,000,000.00) dollars.
11.2 The Tenant covenants with the Landlord that the Tenant in its use and occupation of the Leased Premises will not do or omit or permit to be done or omitted anything which shall cause any insurance premium with respect to the Building, or any part thereof, to be increased, and if any insurance premium shall be so increased, the Tenant shall pay to the Landlord forthwith upon demand as additional rent the amount of such increase.
11.3 The Tenant shall take out and maintain insurance with respect to all improvements, fixtures, fittings, glass and fixed mechanical equipment contained in the Leased Premises or servicing only the Leased Premises against all risks of physical loss or damage, excepting earthquake, flood, war, nuclear fission and pollution, to the full replacement value thereof, in the joint names of the Landlord and the Tenant. Such policy may at the option of the Tenant contain a deductible of not more than One Thousand ($1,000.00) Dollars in respect of any one loss. In the event of any loss, the proceeds of such insurance shall be applied in repairing or replacing the property lost or damaged; after completion of repair or replacement, any excess shall be paid over to the Tenant; if the Tenant completes the repairs and replacement without use of the policy proceeds, on completion, all such proceeds shall be paid over to the Tenant.
11.4 The Tenant shall also take out its own legal liability insurance without subrogation against the Landlord for bodily injury or death or property damage resulting from each occurrence in such amount as may be reasonable from tim...
Fire and Other Insurance. (i) “All risk” insurance (which may include deductibles and exclusions to the extent the same are commercially reasonable) in an amount sufficient to cover one hundred percent (100%) of the replacement cost of personal property, trade fixtures, furniture, furnishings, equipment and other Tenant’s Property, Tenant’s Alterations (including, as required by Landlord hereunder, Tenant’s Alterations which are owned by Landlord pursuant to Section 31.1(c)) and any paneling or other wall finishes or coverings other than normal painting on a full replacement cost basis; (ii) such other insurance in such amounts as Landlord and any Mortgagee reasonably requests from time to time in conformity with standards ordinarily employed in First Class Office Buildings; (iii) such other insurance in such amounts as any Superior Lessor may reasonably require from time to time, including, without limitation, such requirements as are set forth in Section 13 of the Underlying Lease; (iv) to the extent terrorism coverage is excluded or limited as part of the “all risk” insurance policy, and provided that a stand-alone terrorism insurance policy is commercially available at reasonable rates or such coverage is available under the Terrorism Risk Insurance Act of 2002 or any replacement or extension thereof (“TRIA”), “all risk” insurance against terrorism in an amount equal to one hundred percent (100%) of the replacement cost value of personal property, trade fixtures, furniture, furnishings, equipment and other Tenant’s Property, Tenant’s Alterations (including, as required by Landlord hereunder, Tenant’s Alterations which are owned by Landlord pursuant to Section 31.1(c)) and any paneling or other wall finishes or coverings other than normal painting; it being agreed that the terms and conditions of any stand alone terrorism insurance policies shall be similar to the terms and conditions of the TRIA coverage under the “all risk” insurance; and (v) business interruption insurance in an amount Tenant reasonably considers appropriate, provided such business interruption insurance is reasonably acceptable to Landlord. Such policies shall be written on a replacement cost basis with a waiver of co-insurance. Upon request, Tenant shall deliver to Landlord a certificate of Tenant’s insurance evidencing the insured value of Tenant’s property required to be insured pursuant to Sections 11.2(b)(i) and (ii) hereof.
Fire and Other Insurance. DURING THE LEASE TERM, COMPANY AT ITS SOLE EXPENSE, SHALL OBTAIN AND MAINTAIN IN FULL FORCE, IN THE AMOUNT OF $720,000.00 DOLLARS (SEVEN HUNDRED TWENTY THOUSAND DOLLARS 00/100, UNITED STATES CURRENCY), OR AS MODIFIED HEREIN, A POLICY OR POLICIES OF INSURANCE FOR FIRE, LIGHTNING, EXPLOSION, FALLING AIRCRAFT, SMOKE, WINDSTORM, EARTHQUAKE, HAIL, VEHICLE DAMAGE, VOLCANIC ERUPTION, STRIKES, CIVIL COMMOTION, VANDALISM, RIOTS, MALICIOUS MISCHIEF, DEBRIS REMOVAL, STEAM BOILER OR PRESSURE OBJECT OR MACHINERY BREAKAGE IF APPLICABLE, AND FLOOD INSURANCE, ON ALL THE LEASED PROPERTY, INCLUDING BUT NOT LIMITED TO THE SHELL BUILDING AND INTERIOR FIT-UP. COMPANY SHALL ALSO OBTAIN AND MAINTAIN ANNUAL RENTAL INSURANCE IN THE AMOUNT OF THE ANNUAL RENT PROVIDED FOR HEREIN IN FAVOR OF PIMSA. COMPANY SHALL BE RESPONSIBLE FOR MAINTAINING INSURANCE ON ALL OF COMPANY'S OWN PROPERTY. EXCEPT FOR INSURANCE UPON COMPANY'S PROPERTY, PIMSA OR ITS APPOINTEE SHALL BE NAMED THE COMPANY'S BENEFICIARY OF ANY AND ALL PROCEEDS FROM ANY SUCH POLICY OR POLICIES, AS THEIR INTERESTS MAY APPEAR.
Fire and Other Insurance. At all times during the Term, Tenant will maintain at its expense standard fire insurance and extended coverage insurance, with vandalism and malicious mischief endorsements, in an amount sufficient to cover all losses, insuring Tenant and Landlord for damage to or loss of Tenant's Trade Fixtures located on the Premises. Landlord will maintain fire insurance coverage on the Building, but Landlord will not obtain insurance of any kind on Tenant's Trade Fixtures.
Fire and Other Insurance. The landlord will obtain a policy or policies of insurance covering the building of which the leased premises are a part and insuring same against fire and other hazards in such amounts as are commercially reasonable and the tenant will pay the landlord 94.8% (ninety four point eight percent) of the costs of obtaining said policies, as a building cost to be paid by tenant hereunder. Said insurance will contain rent interruption coverage, payable to the landlord, for any period in which the rent hereunder is otherwise suspended due to fire or other loss. The tenant will similarly insure its own property in the building, including its own theatre equipment and fixtures as are defined hereinelsewhere above, at its own cost, adding whatever additional coverage it sees fit for business interruption, the proceeds of which additional coverage will be its to keep in all events. The parties will coordinate their efforts in obtaining such insurance, either from the same carriers, or waiving subrogation where same can be done if from different carriers.
