Fire or Casualty Insurance Sample Clauses

Fire or Casualty Insurance. In the event that the Leased Premises are wholly or partially destroyed by fire or other casualty covered by the usual form of fire and extended coverage insurance rendering them untenantable, Landlord shall, to the extent of insurance proceeds actually received by Landlord, rebuild, repair or restore the Leased Premises to substantially the same condition as when the same were furnished to Tenant and this Lease shall remain in effect during such period. In the event of total destruction, rent shall xxxxx during the period of reconstruction, and in the event of partial destruction, rent shall xxxxx prorata during the period of reconstruction. In the event, however, that the building containing the Leased Premises is damaged or destroyed to the extent of more than one-third (1/3) of its replacement cost, Landlord may elect to terminate this Lease. Tenant shall be responsible for and shall provide Tenant's own insurance coverage, and supply Landlord with evidence of such coverage with respect to any furniture, fixtures, improvements, betterments, equipment and personal property belonging to Tenant and placed by Tenant in or upon the Leased Premises. Tenant agrees and warrants to Landlord that any fire insurance policy, extended coverage policy, casualty and loss policy, or other policy or policies carried by Tenant in connection with this Lease or the Leased Premises and/or insuring Tenant's property or effects located in or upon the Leased Premises shall each contain a provision whereby the insurance carrier waives any right of subrogation against the Landlord. Provided Landlord can obtain such waiver of subrogation rights with regard to policies of fire or casualty insurance obtained by Landlord with regard to the Building, Landlord hereby releases and waives any and all rights of subrogation against Tenant which, in the absence of this release and waiver, would arise in favor of any insurance company insuring Landlord against loss of fire, extended coverage casualty and loss of any other type, resulting from damage to or destruction of the building of which the Leased Premises form a part or any portion thereof in damage to or destruction of the property of Landlord in the Building. Landlord shall not be required to obtain such insurance policies except through insurance companies satisfactory to the Landlord and the holder of any mortgage covering the Leased Premises.
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Fire or Casualty Insurance. District shall insure the Wellness Center and City and District shall pay the insurance premiums attributable to their respective use of the Wellness Center as part of the Operations and Maintenance Costs as follows:
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Fire or Casualty Insurance. CITY shall insure the Project Facilities, and the costs thereof shall be allocated as part of the O&M Cost allocation for each party as provided herein. Property insurance shall be written on a replacement cost special cause of loss form, with an agreed value endorsement. Coverage shall include equipment breakdown/boiler and machinery perils. The limit of insurance shall be no less than 90% of the replacement value. Coverage shall include Extra Expense with a limit of $100,000 written on a 00-00-000 or similar basis. All such insurance shall be obtained from issuers of recognized responsibility licensed to do business in the State of Iowa. All policies shall name DISTRICT and CITY and any OPERATOR as the insured, as their respective interests may appear. The property section of the policy shall list DISTRICT as a loss payee. To the extent obtainable, all policies shall contain an agreement by the insurer that such policies shall not be canceled except upon thirty (30) days' prior written notice to each party.
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Fire or Casualty Insurance. If a new policy of fire, hazard or casualty insurance on the property is necessary to close the transaction, the borrower will arrange for the policy to be issued, outside of escrow, and will provide evidence of the required insurance coverage to the closing agent before the closing date. Unless otherwise instructed, the closing agent shall have no responsibility to contract for or obtain any policy of fire hazard or casualty insurance on the property, or any assignment of such policy. Collection Account. If any financing for the transaction will be provided by a private party, the parties are advised to open a collection account at a financial institution to receive and disburse payments to be made under the private promissory note or contract. The collection account shall be established by the parties outside of escrow and shall not be the responsibility of the closing agent.
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Fire or Casualty Insurance. A. If the Demised Premises shall be damaged by fire or other casualty, Subtenant agrees that it shall not be the obligation of Sublandlord to repair, restore or rebuild the Demised Premises (except to the extent expressly provided to the contrary in Article 8 or Article 12 of the Master Lease) and Subtenant shall look solely to Master Landlord to repair, restore or rebuild the same in accordance with the applicable provisions of the Master Lease. Except to the extent such restoration is Sublandlord’s obligation under Article 8 or Article 12 of the Master Lease, Sublandlord shall not be responsible for restoration nor for any inconvenience or annoyance to Subtenant or injury to Subtenant’s business resulting in any way from such damage or any repair or restoration. If, as a result of any such casualty, the Master Lease grants rights to Sublandlord, Subtenant shall be entitled to the exercise of, or, at Subtenant’s request, Sublandlord will exercise on Subtenant’s behalf, all such rights as they relate to the Demised Premises and to all services and repairs which Master Landlord is and may be obligated to furnish the Demised Premises or Sublandlord with respect to the Demised Premises pursuant to the terms of the Master Lease. Subtenant understands and acknowledges that Sublandlord will not carry insurance of any kind on any goods, furniture or furnishings owned by Subtenant or on any trade or other fixtures, equipment, other items of moveable personal property, improvements, installations or appurtenances owned and removable by Subtenant (collectively, the “Subtenant’s Property”), and that neither Sublandlord nor Master Landlord shall be obligated to repair any damage thereto or replace same.
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Fire or Casualty Insurance. If a new policy of fire, hazard or casualty insurance on the property is necessary to close the transaction, the buyer will arrange for the policy to be issued, outside of escrow, and will provide evidence of the required insurance coverage to the closing agent before the closing date. Unless otherwise instructed, the closing agent shall have no responsibility to contract for or obtain any policy of fire, hazard or casualty insurance on the property, or any assignment of such policy.
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Fire or Casualty Insurance. The YMCA shall secure and maintain at its own cost and expense an insurance policy for the YMCA Building. This policy will insure against loss, including repair and replacement. District 625 will be named as additional insured on this policy. The policy shall insure against the following:
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Related to Fire or Casualty Insurance

  • Casualty Insurance The Lessor ☐ The Lessee ☐ The Parties (jointly) shall be responsible for obtaining and maintaining casualty insurance for the Premises for losses against fire.

  • Fire and Casualty Insurance Developer shall obtain and keep in full force adequate fire and casualty insurance with coverage in an amount equal to the assessed value of such improvements. In the event of loss the Developer shall use the proceeds of such insurance to promptly reconstruct the damaged or lost improvements.

  • Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Xxxxxx as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Xxxxxx has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Xxxxxxxx abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Xxxxxxxx does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Xxxxxx may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower’s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.

  • FIRE OR CASUALTY Tenant shall give immediate notice to Landlord in case of fire or accident or other damage defects in or to the Apartment or the building and to any of the fixtures or equipment therein. If the Apartment or the building shall be partially damaged by fire, the damages shall be repaired by and at the expense of Landlord as soon as it can reasonably be done under the circumstances, due allowance to be taken into consideration for any delays which may arise by reason of labor troubles, inability to obtain labor or materials, Governmental orders, regulations and restrictions, delays in adjusting the insurance loss or other causes beyond Landlord’s reasonable control. If the Apartment or the building shall be damaged from such causes or from any of them to such extent that the same cannot be repaired with reasonable diligence within a period of sixty days, or if Landlord shall decide not to repair or rebuild the same or if Landlord shall decide to demolish the building or to convert it to other uses then and in any such event, Landlord may within sixty days after such damages occur give Tenant notice of such decision and thereupon the term of the Lease shall expire upon the third day after such notice is given , and Tenant shall thereupon vacate and surrender the Apartment to Landlord forthwith, and in such case, the rent shall be paid up to and apportioned as of the date on which Tenant shall vacate and surrender the demised premises. In the event the Apartment is damaged to such an extent that is untenantable in whole or in part, rent shall be paid up to time of such damage and shall thereafter xxxxx in proportion to the part of the Apartment which may be usable until such time as the premises shall have been put into repair. If the Apartment or the building shall be damaged or destroyed by fire or other cause resulting from any negligent act or omission or breach of any provision of this Lease by Tenant, Tenant shall nevertheless be liable to Landlord for any damage sustained by Landlord as a result thereof and the making of any necessary repairs or rebuilding by Landlord shall not constitute a waiver of the claim of Landlord, or of its insurer by subrogation, against Tenant for damages. Landlord and Tenant agree that the agreement contained in this paragraph is an agreement made in place of the provisions of Section 227 of the Real Property Law of New York.

  • General Liability Insurance The Contractor must secure and maintain Commercial General Liability Insurance, including bodily injury, property damage, products, personal and advertising injury, and completed operations. This insurance must provide coverage for all claims that may arise from performance of the Contract or completed operations, whether by the Contractor or anyone directly or indirectly employed by the Contractor. Such insurance must include the State of Florida as an additional insured for the entire length of the resulting contract. The Contractor is responsible for determining the minimum limits of liability necessary to provide reasonable financial protections to the Contractor and the State of Florida under the resulting contract.

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