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$1'045,000.00 Dollars (One Million Forty Five 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, 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 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. Starting on the Commencement Date, and during the entire Lease term hereof, Tenant, at its sole cost and expense, shall be responsible for maintaining any fire and casualty insurance on the Premises. Such policies shall insure the Premises at replacement value against loss or damage by fire or by any other cause, and shall also cover the contents of the Premises. In addition, during the entire term of this Lease, whether original or renewal term(s), Tenant shall, at its sole cost and expense, keep in full force and effect a policy or policies of general or comprehensive public liability and property damage insurance with respect to the Premises of not less than one ($1,000,000) million dollars per occurrence, against any claims for bodily injury, death or property damage, occurring on, in or about the Premises and any improvements, and against contractual liability of any such claims.
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:
Fire and Other Insurance. Landlord shall, at its expense, at all times from and after the date hereof and during the term, maintain on any buildings and other improvements now or hereafter located on the Property 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 Property from time to time. The policy shall name as insureds the Landlord and Tenant, as their interests appear. The "replacement cost" of the building and other improvements to be insured under this Section 6.4 shall be determined by the company issuing the insurance policy at the time the policy is initially obtained. Such insurance shall not insure Tenant’s personal property, furniture, fixtures or equipment.
Fire and Other Insurance. LESSEE shall not permit any use of the Leased Premises which will make voidable, increase any premium (unless LESSEE shall fully pay for such increase and there is no increase in LESSOR's deductibles as a result thereof), or decrease any insurance on the Building and property of which the Leased Premises are a part, or on the contents of said Building, or which shall be contrary to any law, regulation, or order from time to time established or issued by the local Fire Department, or any similar body, or any restriction contained in any of LESSOR'S insurance policies as to the Building and property; provided however, LESSOR represents and warrants that LESSOR's insurance policies shall not contain any restrictions or LESSEE's use of the Premises for office, research and laboratory purposes and such use, per se, shall not render such insurance voidable, increase any premium, or decrease any of LESSOR's coverages. LESSEE shall, on demand, reimburse LESSOR all extra insurance premiums caused by LESSEE's use of the Leased Premises other than for the office, research and laboratory purposes contemplated herein. LESSEE shall not vacate the Leased Premises or permit same to be unoccupied for more than thirty (30) consecutive days other than during LESSEE's customary non-business days or hours.
Fire and Other Insurance. Landlord shall maintain and --------------------------- keep in effect throughout the term of this Lease insurance against loss or damage to all buildings and all other improvements now or hereafter located on the Tract by fire and such other casualties as may be included within either fire and extended coverage insurance or all-risk insurance in an amount equal to the full insurable value thereof, and may maintain rent insurance, plate glass insurance, war risk insurance (when available) and other such insurance as may reasonably be required from time to time by any mortgagee or as may be required generally by mortgage lending institutions. Tenant shall pay to Landlord, as additional rent hereunder, upon demand, its Proportionate Share of any future increase in the premiums for such insurance over the amounts payable as of the Commencement Date. Tenant shall maintain throughout the term of this Lease boiler insurance on the boiler serving the Premises in an amount equal to that customarily carried on similar boilers in similar operations. Such insurance shall name Landlord as an additional insured and shall meet (and Tenant shall comply with) the requirements of the last four sentences of Paragraph 7(b). All equipment purchased by Tenant with funds provided under Paragraph 3(b) shall be insured, maintained and operated, at Tenant's sole cost and expense, as may be required by the terms of Seton Company's bond financing.
