Common use of General Liability and Related Insurance Clause in Contracts

General Liability and Related Insurance. During the entire term of this Lease and any extensions or renewals thereof, and any holdover tenancy Tenant shall obtain and keep in full force and effect, at its sole cost and expense, a policy of comprehensive public liability insurance with respect to the Premises and the business of Tenant thereon, written on an "occurrence", and not a "claims made" basis, by a responsible casualty or indemnity company authorized to do business in the Property Jurisdiction, under which policy Landlord and Lenders, if any, shall be named as additional insureds, and with single coverage limits for each occurrence of injury or property damage in amounts reasonably acceptable to Landlord. Prior to the Commencement Date, Tenant shall cause such insurance policy to furnish Landlord with said policy or with a certificate that said insurance is in effect, states that Landlord will be notified in writing thirty (30) days prior to any cancellation, material change or renewal of said insurance. If the Premises has a boiler or steam vessel, Tenant shall also place and carry boiler insurance with such a casualty or indemnity company in an amount of coverage reasonably acceptable to Landlord, and Tenant shall comply fully with all applicable laws, ordinances, and regulations with reference to the operation and inspection of such boiler and steam vessel. Tenant shall also maintain such other insurance coverages, naming Landlord and Lenders, if any, as additional insureds with coverage limits satisfactory to Landlord, as Landlord may reasonably conclude are prudent or advisable based on the use to which Tenant is putting the Premises.

Appears in 2 contracts

Samples: Consulting Agreement (Alltrista Corp), Consulting Agreement (Alltrista Corp)

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General Liability and Related Insurance. During the entire term of this Lease and any extensions or renewals thereof, and any holdover tenancy Tenant shall obtain and keep in full force and effect, at its sole cost and expense, a policy of comprehensive public liability insurance with respect to the Premises and the business of Tenant thereon, written on an "occurrence", and not a "claims made" basis, by a responsible casualty or indemnity company authorized to do business in the Property Jurisdiction, under which policy Landlord and Lenders, if any, shall be named as additional insureds, and with not less than $2,000,000 single coverage limits for each occurrence of injury or property damage in amounts reasonably acceptable to Landlorddamage. Prior to the Commencement Date, Tenant shall cause such insurance policy to furnish Landlord with said policy or with a certificate that said insurance is in effect, states which shall state that Landlord will be notified in writing thirty (30) days prior to any cancellation, material change or renewal of said insurance. If the Premises has a boiler or steam vessel, Tenant shall also place and carry boiler insurance with such a casualty or indemnity company in an amount of coverage reasonably acceptable to Landlordnot less than $1,000,000 per accident, and Tenant shall comply fully with all applicable laws, ordinances, and regulations with reference to the operation and inspection of such boiler and steam vessel. Tenant shall also maintain such other insurance coverages, naming Landlord and Lenders, if any, coverage as additional insureds with coverage limits satisfactory to Landlord, as Landlord Tenant may reasonably conclude are prudent or advisable based on the use to which Tenant is putting the Premises. Tenant shall also maintain such other insurance coverages, in form and amounts acceptable to Lenders, as such Lenders may reasonably require under any mortgage encumbering the Premises, now or in the future.

Appears in 2 contracts

Samples: Purchase Agreement (Appliance Recycling Centers of America Inc /Mn), Lease (Appliance Recycling Centers of America Inc /Mn)

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