Insurance Damage and Destruction. Section 7.1.
Insurance Damage and Destruction. 11.1 Insurance Requirements
Insurance Damage and Destruction. The Landlord shall insure the building against all standard risks. The Tenant may not do or permit anything to be done which invalidates the Landlord's insurance policies in respect of the Property or which causes insurance claims to be unenforceable or which increases the premiums of such insurance. Particulars of the insurance in respect of the Property will be made available by the Landlord on written request by the Tenant. If the Leased Premises or the Building is damaged or destroyed to such an extent that it becomes substantially untenantable, the Landlord may, at its option, and in addition to any other rights which it may have. by written notice terminate the Agreement from date of such damage or destruction; or rebuild or restore the Leased Premises or the building in which the Leased Premises is situated or forms part of, provided that during such rebuilding or restoration the monthly rental will be abated in accordance with the extent of any loss of beneficial occupation suffered by the Tenant. The Tenant is responsible for the insurance of its own goods and cannot hold the Landlord liable for any damage to such property, unless such damage is due to the gross negligence or wilful conduct of the Landlord.
Insurance Damage and Destruction. 15.1 The Lessee may not do or permit anything to be done which invalidates the Lessor’s insurance policies in respect of the Property or which causes insurance claims to be unenforceable or which increases the premiums of such insurance. The policies are to be made available by the Lessor for perusal on written request by the Lessee.
15.2 If the Leased Premises or the Building is damaged or destroyed to such an extent that it becomes substantially untenantable, the Lessor may, at its option, and in addition to any other rights which it may have -
15.2.1 by written notice terminate this Agreement from date of such damage or destruction, or
15.2.2 rebuild or restore the Leased Premises or the Building, provided that during such rebuilding or restoration the Monthly Rental will be abated in accordance with the extent of loss of beneficial occupation suffered by the Lessee, as certified the Lessor’s architect or
15.2.3 Provided that in the event that such rebuilding or restoration is likely to take more than 3(three) months to complete, the Lessee may elect to terminate this Agreement.
15.2.4 Should the Lessee do so, the Lessee indemnifies the Lessor against any loss incurred as a result of this and/or pay for any increase in the insurance premium required to accommodate such business.
Insurance Damage and Destruction. 10.1 The Tenant may not do or permit anything to be done which invalidates the Landlord's insurance policies in respect of the Property or which causes insurance claims to be unenforceable or which increases the premiums of such insurance. Particulars of the insurance in respect of the Property will be made available by the Landlord on written request by the Tenant.
10.2 If the Leased Premises or the Building is damaged or destroyed to such an extent that it becomes substantially untenantable and inaccessible, as determined by an independent registered assessor, for a period of at least one month, then either party may:
10.2.1 by written notice to the other, terminate the Contract from date of such damage or destruction; or
10.2.2 alternatively and by agreement between both parties, the Landlord may rebuild or restore the Leased Premises or the Building, provided that during such rebuilding or restoration the monthly rental will be abated in accordance with the extent of any loss of beneficial occupation suffered by the Tenant.
10.3 In the event of either party terminating this contract in terms of above 10.2.1, then and in such an event, neither party shall have any claim of whatsoever nature against the other, arising out of such termination.
Insurance Damage and Destruction. 16
6.1 Insurance Coverage 16
6.2 Agreement Not Affected by Damage or Destruction 16
6.3 Project Co’s Obligations - Damage or Destruction 16
6.4 Project Co’s Obligations - Application of Insurance Proceeds 17 6.5 Project Co’s Obligations - Material Damage or Destruction 18 6.6 Financial Model Update 19 6.7 Authority Election Not to Reinstate 19 6.8 Economic Reinstatement Test During Construction 20 6.9 Standards of Replacement, Repair or Reconstruction 21 6.10 Mitigation 21 6.11 Risks Becoming Uninsurable 21 6.12 Consequences of Risks Becoming Uninsurable 21
Insurance Damage and Destruction. Section 7 .1 Partial Destruction of Lot.. ......................................................................... 32 Section 7 .2 Total Destruction of Lot............................................... ..............................32 Section 7.3 Partial Destruction of Easement Areas, Common Areas and Common Elements ................................................................................................................. 33 Section 7.4 Total Destruction of Easement Areas, Common Areas and Common Elements ................................................................................................................ .33 Section 7.5 Insurance .................................................................................................... 33 Section 7.6 Additional Association Insurance .............................................................. 34 Section 7.7 Ground Lessees' lnsurance ........................................................................ 34 Section 7.8 Adjustment of Coverage; Premiums .......................................................... 35 Section 7.9 Adjustment of Loss; Collection of Proceeds................ ............................. 35 ii BN 32866176v12
Insurance Damage and Destruction. 7.01 General Liability and Workers' Compensation ------------------------------------------- Commencing on the Effective Date, Tenant shall procure and maintain during the Term general liability insurance against claims for personal injury, death or property damage occuring on, in, or about the Leased Premises and/or the Improvements with a combined single limit of not less than twenty million dollars ($20,000,000) (which amount shall be adjusted every three (3) years in accordance with the Price Index) insuring Landlord, Tenant, and any Leasehold Mortgagee, which insurance shall contain such limits and other terms as shall be mutually reasonably agreeable to Tenant and Landlord and as may be reasonably required by the first Leasehold Mortgagee. Tenant shall carry workers' compensation and employer's liability insurance as may be required under applicable workers' compensation laws.
7.02 Property and Business Interruption Insurance --------------------------------------------
(a) Tenant shall keep the Improvements and FF&E and other personal property on the Leased Premises continuously insured against loss or damage from (i) all perils covered by "all risk" (as such term is commonly used in the insurance industry, excluding earthquake and flood) coverage, in amounts sufficient to satisfy the requirements of the first Leasehold Mortgagee and not less than ninety percent (90%) of the replacement cost thereof and (ii) explosion of boilers, pressure vessels, pressure pipes, and sprinklers installed at the Leased Premises, to the extent applicable.
(b) Tenant shall carry business interruption insurance, covering loss of profits and necessary continuing expenses for interruptions caused by any occurrence covered by the insurance referred to in Section 7.02(a) during a period of at least one (1) year after such an occurrence, of a type and in such amounts as are (i) required under Section 12.01D of the Management Agreement (for so long as the Hotel is operated under the Management Agreement) or (ii) reasonable in light of the operations conducted on the Leased Premises (in all other cases).
(c) All policies under this Section 702 shall provide that any insurance proceeds shall be payable to Tenant, Landlord, and any Leasehold Mortgagees, as their interests may appear; provided, however, any loss payable --------- ------- under any property -37- insurance policy will be adjusted solely by Tenant with the prior written consent of the first Leasehold Mortgagee. If t...
Insurance Damage and Destruction. 6.1 Insurance Coverage Subject to Section 6.15(b) [Consequences of Risks Becoming Uninsurable], each of Project Co and the Authority will take out, maintain in force, pay for and renew, or cause to be taken out, maintained in force, paid for and renewed, insurance for the Project as set out in Schedule 5 [Insurance Requirements].
Insurance Damage and Destruction. A. If OWNER's solar energy system is damaged or destroyed from (a) a risk covered by HOA insurance, and the insurance proceeds are insufficient to cover OWNER's loss, or
