Common use of Hazard and Other Insurance Clause in Contracts

Hazard and Other Insurance. The Lessee shall keep, or cause to be kept, the Property insured against loss or damage by fire, flood and other risks in an amount not less than the greater of the amount set forth on SCHEDULE 14.2 and the then current replacement costs of the buildings and improvements on the Property and on terms that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or any of its Affiliates and that are in accordance with prudent business practice. The Lessee may provide such coverage under blanket policies maintained by or on behalf of the Lessee; PROVIDED, that if the Lessee does not elect to terminate the Lease pursuant to ARTICLE XVI hereof following the occurrence of an event covered by any such blanket policy, the proceeds shall be applied to the repair, rebuilding and restoration of any damage to the Property. Prior to the Completion Date for the Expansion Improvements, no insurance coverage applicable to the Expansion Improvements required under this SECTION 14.2 shall be subject to any deductible. During the construction of the Expansion Improvements the Lessee shall also maintain builders' risk insurance. Each policy of insurance maintained by the Lessee pursuant to this SECTION 14.2 shall provide that all insurance proceeds with respect to the Property in respect of any loss or occurrence with respect to the Property shall be paid to and adjusted solely by the Agent (at the expense of the Lessee) during the Construction Period with respect to the Expansion Improvements only and at any other time, by (and such proceeds shall be paid to) the Lessee, except from and after the date on which the insurer receives written notice from the Lessor or the Agent that a Lease Event of Default exists (and unless and until such insurer receives written notice from the Lessor or the Agent that all Lease Events of Default have been cured), all losses shall be adjusted solely by, and all insurance proceeds shall be paid solely to, the Agent (or the Lessor if the Participation Interests have been fully paid) for application pursuant to ARTICLE XV. The costs and expenses of all insurance required under this SECTION 14.2 (i) applicable to the Expansion Improvements (A) shall be paid by the Lessor (and funded as an Advance funded by the Participants and capitalized as provided in Section 3.7(e)(i) of the Participation Agreement), if arising prior to the related Completion Date, and (B) from and after the related Completion Date, shall be at the sole cost and expense of the Lessee and (ii) applicable to the remainder of the Property, shall be at the sole cost and expense of the Lessee.

Hazard and Other Insurance. The Lessee shall keep, or cause to be kept, the Property insured against loss or damage by fire, flood and other risks (excluding earthquake, which insurance may be obtained by the Lessee if it so elects but which shall not be required hereunder) in an amount not less than the greater of the amount set forth on SCHEDULE Schedule 14.2 and the then current replacement costs of the buildings and improvements on the Property and on terms that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or any of its Affiliates and that are in accordance with prudent business practice. The Lessee may provide such coverage under blanket policies maintained by or on behalf of the Lessee; PROVIDEDprovided, that if the Lessee does not elect to terminate the Lease pursuant to ARTICLE Article XVI hereof following the occurrence of an event covered by any such blanket policy, the proceeds of any such blanket policy shall be applied first, to the exclusion of other facilities covered by such policy other than the Property, to the repair, rebuilding and restoration of any damage to the Property. Prior to the Completion Date for the Expansion Improvements, no insurance Insurance coverage applicable to the Expansion Improvements required under this SECTION Section 14.2 shall be subject to any deductibledeductibles reasonably satisfactory to the Lessor. During the construction of the Expansion Improvements any Modifications the Lessee shall also maintain builders' risk insurance. Each policy of insurance maintained by the Lessee pursuant to this SECTION Section 14.2 shall provide that all insurance proceeds with respect to the Property in respect of any loss or occurrence with respect to the Property shall be paid to and adjusted solely by the Agent (at the expense of the Lessee) during the Construction Period with respect to the Expansion Improvements only and at any other time, by (and such proceeds shall be paid to) the Lessee, except from and after the date on which the insurer receives written notice from the Lessor or the Agent that a Lease Event of Default exists (and unless and until such insurer receives written notice from the Lessor or the Agent that all Lease Events of Default have been cured), all losses shall be adjusted solely by, and all insurance proceeds shall be paid solely to, the Agent (or the Lessor if the Participation Interests have been fully paid) for application pursuant to ARTICLE Article XV. The costs and expenses of all insurance required under this SECTION Section 14.2 (i) applicable to the Expansion Improvements (A) shall be paid by the Lessor (and funded as an Advance funded by the Participants and capitalized as provided in Section 3.7(e)(i) of the Participation Agreement), if arising prior to the related Completion Date, and (B) from and after the related Completion Date, shall be at the sole cost and expense of the Lessee and (ii) applicable to the remainder of the Property, shall be at the sole cost and expense of the Lessee.

Hazard and Other Insurance. The Lessee shall keep, or cause to be kept, the Property insured against loss or damage by fire, flood and other risks (excluding earthquake, which insurance may be obtained by the Lessee if it so elects but which shall not be required hereunder) in an amount not less than the greater of the amount set forth on SCHEDULE Schedule 14.2 and the then current replacement costs of the buildings and improvements on the Property and on terms that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or any of its Affiliates and that are in accordance with prudent business practice. The Lessee may provide such coverage under blanket policies maintained by or on behalf of the Lessee; PROVIDEDprovided, that if the Lessee does not elect to terminate the Lease pursuant to ARTICLE Article XVI hereof following the occurrence of an event covered by any such blanket policy, the proceeds of any such blanket policy shall be applied first, to the exclusion of other facilities covered by such policy other than the Property, to the repair, rebuilding and restoration of any damage to the Property. Prior to the Completion Date for the Expansion Improvements, no insurance Insurance coverage applicable to the Expansion Improvements required under this SECTION Section 14.2 shall be subject to any deductibledeductibles reasonably satisfactory to the Lessor. During the construction of the Expansion Improvements any Modifications the Lessee shall also maintain builders' risk insurance. Each policy of insurance maintained by the Lessee pursuant to this SECTION Section 14.2 shall provide that all insurance proceeds with respect to the Property in respect of any loss or occurrence with respect to the Property shall be paid to and adjusted solely by the Agent (at the expense of the Lessee) during the Construction Period with respect to the Expansion Improvements only and at any other time, by (and such proceeds shall be paid to) the Lessee, except from and after the date on which the insurer receives written notice from the Lessor or the Agent that a Lease Event of Default exists (and unless and until such insurer receives written notice from the Lessor or the Agent that all Lease Events of Default have been cured), all losses shall be adjusted solely by, and all insurance proceeds shall be paid solely to, the Agent (or the Lessor if the Participation Interests have been fully paid) for application pursuant to ARTICLE XV. The costs and expenses of all insurance required under this SECTION 14.2 (i) applicable to the Expansion Improvements (A) shall be paid by the Lessor (and funded as an Advance funded by the Participants and capitalized as provided in Section 3.7(e)(i) of the Participation Agreement), if arising prior to the related Completion Date, and (B) from and after the related Completion Date, shall be at the sole cost and expense of the Lessee and (ii) applicable to the remainder of the Property, shall be at the sole cost and expense of the Lessee.Article

Hazard and Other Insurance. The Lessee shall keep, or cause to be kept, -------------------------- the Property insured against loss or damage by fire, flood flood, earthquake and other risks in an amount not less than the greater of the amount set forth on SCHEDULE Schedule 14.2 and the then current replacement costs of the buildings and ------------- improvements on the Property and on terms that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or any of its Affiliates and that are in accordance with prudent business practice. The Lessee may provide such coverage under blanket policies maintained by or on behalf of the Lessee; PROVIDEDprovided, that if the Lessee does not -------- elect to terminate the Lease pursuant to ARTICLE Article XVI hereof following the ----------- occurrence of an event covered by any such blanket policy, the proceeds of any such blanket policy shall be applied first, to the exclusion of other facilities covered by such policy other than the Property, to the repair, rebuilding and restoration of any damage to the Property. Prior to the Completion Date for the Expansion ImprovementsDate, no insurance coverage applicable to the Expansion Improvements required under this SECTION Section 14.2 shall be subject ------------ to any deductible. During the construction of the Expansion any Improvements the Lessee shall also maintain builders' risk insurance. Each policy of insurance maintained by the Lessee pursuant to this SECTION Section 14.2 shall provide that all ------------ insurance proceeds with respect to the Property in respect of any loss or occurrence with respect to the Property shall be paid to and adjusted solely by the Agent (at the expense of the Lessee) during the Construction Period with respect to the Expansion Improvements only and at any other timethereafter, by (and such proceeds shall be paid to) the Lessee, except from and after the date on which the insurer receives written notice from the Lessor or the Agent that a Lease Event of Default exists (and unless and until such insurer receives written notice from the Lessor or the Agent that all Lease Events of Default have been cured), all losses shall be adjusted solely by, and all insurance proceeds shall be paid solely to, the Agent (or the Lessor if the Participation Interests have been fully paid) for application pursuant to ARTICLE Article XV. The costs and expenses of all insurance ---------- required under this SECTION Section 14.2 (i) applicable to the Expansion Improvements (Ax) shall be paid by the Lessor (and funded as ------------ an Advance funded by the Participants and capitalized as provided in Section 3.7(e)(i) of the Participation Agreement), if arising prior to the related Completion Date, and (By) from and after the related Completion Date, shall be at the sole cost and expense of the Lessee and (ii) applicable to the remainder of the Property, shall be at the sole cost and expense of the Lessee.

Hazard and Other Insurance. The Lessee shall keep, or cause to be kept, the Property insured against loss or damage by fire, flood flood, earthquakes, and other risks in an amount not less than the greater of the amount set forth on SCHEDULE 14.2 Schedule 14.3 and the then current replacement costs cost of the buildings and improvements on the Property and on terms that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or any of its Affiliates and that are in accordance with prudent business practice; provided that the Lessee shall be required to maintain earthquake coverage only if commercially reasonably available and, if obtained, in a minimum amount equal to 100% of the probable maximum loss with respect to the Property as demonstrated by a professional engineer qualified to make such a determination selected by the Lessee as reasonably approved by the Lessor and the Indenture Trustee. Earthquake insurance shall be deemed to be commercially reasonably available if it is offered by more than one insurance carrier. The Lessee may provide such coverage under blanket policies maintained by or on behalf of the Lessee; PROVIDED, provided that if the Lessee does not elect to terminate the Lease pursuant to ARTICLE Article XVI hereof following the occurrence of an event covered by any such blanket policy, the proceeds of any such blanket policy shall be applied (i) first, to the exclusion of other facilities covered by such policy other than the Initial Property, to the repair, rebuilding and restoration of any damage to the Property. Prior Property and the Initial Property covered by such policy on a pro rata basis, if so required in order to complete such repair, rebuilding or restoration, up to the Completion Date for lesser of (A) the Expansion Improvementsextent of the loss suffered and (B) $23,000,000 per occurrence, no insurance coverage applicable and (ii) second, if the loss suffered is in excess of $23,000,000 per occurrence, any such proceeds in excess of $23,000,000 per occurrence shall be shared between the loss payees under this Lease and the lease referred to in the Initial Participation Agreement, on the one hand, and other parties having an insured interest with respect to such event covered by such policy, on the other hand, based on the proportion that the loss suffered with respect to the Expansion Improvements required under this SECTION 14.2 shall be subject Property and the Initial Property, on the one hand, bears to any deductiblethe aggregate loss suffered by the Property, the Initial Property and all other properties insured by such policy, on the other hand. During the construction of the Expansion any Improvements the Lessee shall also maintain builders' risk insurance. Each policy of insurance maintained by the Lessee pursuant to this SECTION 14.2 Section 14.3 shall provide that all insurance proceeds with respect to the Property in respect of any loss or occurrence with respect to the Property shall be paid to and adjusted solely by the Agent Indenture Trustee (at the expense of the Lessee's expense) during the Construction Period with respect to the Expansion Improvements only Period, and at any other timethereafter, by (and such proceeds shall be paid to) the Lessee, except (i) insurance proceeds in excess of $5,000,000 shall be paid to the Indenture Trustee and applied to the repair, rebuilding or restoration of the Property in accordance with Article XV and (ii) from and after the date on which the insurer receives written notice from the Lessor or the Agent Indenture Trustee that a Lease Event of Default exists (and unless and until such insurer receives written notice from the Lessor or the Agent Indenture Trustee that all Lease Events of Default have been cured), all losses shall be adjusted solely by, and all insurance proceeds shall be paid solely to, the Agent Indenture Trustee (or the Lessor if the Participation Interests Notes have been fully paid) for application pursuant to ARTICLE Article XV. The costs and expenses of all insurance required under this SECTION 14.2 (i) applicable to the Expansion Improvements (A) shall be paid by the Lessor (and funded as an Advance funded by the Participants and capitalized as provided in Section 3.7(e)(i) of the Participation Agreement), if arising prior to the related Completion Date, and (B) from and after the related Completion Date, shall be at the sole cost and expense of the Lessee and (ii) applicable to the remainder of the Property, shall be at the sole cost and expense of the Lessee.

Hazard and Other Insurance. The Lessee shall keep, or cause to be kept, the Property insured against loss or damage by fire, flood and other risks in an amount not less than the greater of the amount set forth on SCHEDULE Schedule 14.2 and the then current replacement costs of the buildings and improvements on the Property and on terms that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or any of its Affiliates and that are in accordance with prudent business practice. The Lessee may provide such coverage under blanket policies maintained by or on behalf of the Lessee; PROVIDED, provided that if the Lessee does not elect to terminate the Lease pursuant to ARTICLE Article XVI hereof following the occurrence of an event covered by any such blanket policy, the proceeds of any such blanket policy shall be applied first, to the exclusion of other facilities covered by such policy other than the Property, to the repair, rebuilding and restoration of any damage to the Property. Prior to the Completion Date for the Expansion Improvements, no insurance coverage applicable to the Expansion Improvements required under this SECTION 14.2 shall be subject to any deductible. During the construction of the Expansion any Improvements the Lessee shall also maintain builders' risk insurance. Each policy of insurance maintained by the Lessee pursuant to this SECTION Section 14.2 shall provide that all insurance proceeds with respect to the Property in respect of any loss or occurrence with respect to the Property shall be paid to and adjusted solely by the Agent (at the expense of the Lessee) during the Construction Period with respect to the Expansion Improvements only and at any other timethereafter, by (and such proceeds shall be paid to) the Lessee, except from and after the date on which the insurer receives written notice from the Lessor or the Agent that a Lease Event of Default exists (and unless and until such insurer receives written notice from the Lessor or the Agent that all Lease Events of Default have been cured), all losses shall be adjusted solely by, and all insurance proceeds shall be paid solely to, the Agent (or the Lessor if the Participation Interests have been fully paid) for application pursuant to ARTICLE Article XV. The costs and expenses of all insurance required under this SECTION Section 14.2 (i) applicable to the Expansion Improvements (Ax) shall be paid by the Lessor (and funded as by an Advance funded by the Participants and capitalized as provided in Section 3.7(e)(i) of the Participation Agreement), if arising prior to the related Completion Date, and (By) from and after the related Completion Date, shall be at the sole cost and expense of the Lessee and (ii) applicable to the remainder of the Property, shall be at the sole cost and expense of the Lessee.