Common use of INSURANCE--LESSEE Clause in Contracts

INSURANCE--LESSEE. (a) Lessee shall, throughout the term of this Lease, maintain fire and extended coverage insurance with owners, landlords and tenants endorsement on the Premises leased in an amount equal to the full insurable value thereof, in a company or companies rated Best A or better, and naming Lessor and Lessor's mortgagee or mortgagees as additional insureds. (b) Lessee shall, at its expense, during the term hereof, maintain and deliver to Lessor general liability insurance policy with owners, landlords and tenants endorsement with respect to the premises naming Lessor and Lessor's mortgagee or mortgagees as additional insureds, with limits of at least $2,000,000 for injury or death to any one person and $2,000,000 for any one accident, and $1,000,000 with respect to damage to property. (c) Said policies of insurance shall be in whatever form and with such insurance companies as are reasonably satisfactory to Lessor, and shall provide for at least ten days' prior notice to Lessor of cancellation. At least ten days before any such policy expires, Lessee shall supply Lessor with a substitute therefore, together with evidence that the premiums therefore have been paid. If Lessee fails to do so, Lessor may procure such policies or pay such premiums. In such case, all amounts so paid by Lessor, with interest thereon at the rate of 4% over Wall Street Journal's published prime rate as published from time to time per annum, shall be added to the next monthly Rent installment coming due, and shall be collected as additional Rent. (d) Lessee shall be solely responsible for its equipment, furniture, fixtures, inventory and other personal property located on the Premises and shall be solely responsible for carrying whatever insurance it desires with respect to such property. (e) Lessor and Lessor's mortgagee, if any, shall at all times be named as an additional insured on all policies of insurance required by this Lease and Lessee shall provide to Lessor and Lessor's mortgagee, if any, a current certificate showing compliance with this covenant, provided that Lessor shall have notified Lessee in writing of the name and address of such mortgagee. Each policy of insurance shall require notice to Lessor and Lessor's mortgagee prior to cancellation.

INSURANCE--LESSEE. (a) Lessee shall, throughout the term Initial Term or Renewal Term(s) of this Lease, maintain fire and extended coverage insurance with owners, landlords and tenants endorsement on the Premises leased in an amount equal to the full insurable value thereof, in a company or companies rated Best A or better, and naming Lessor and Lessor's mortgagee or mortgagees as additional insureds. (b) Lessee shall, at its expense, during the term hereof, maintain and deliver to Lessor general liability insurance policy with owners, landlords and tenants endorsement with respect to the premises naming Lessor and Lessor's mortgagee or mortgagees as additional insureds, with limits of at least $2,000,000 for injury or death to any one person and $2,000,000 for any one accident, and $1,000,000 with respect to damage to property. (c) Said policies of insurance shall be in whatever form and with such insurance companies as are reasonably satisfactory to Lessor, and shall provide for at least ten days' prior notice to Lessor of cancellation. At least ten days before any such policy expires, Lessee shall supply Lessor with a substitute therefore, together with evidence that the premiums therefore have been paid. If Lessee fails to do so, Lessor may procure such policies or pay such premiums. In such case, all amounts so paid by Lessor, with interest thereon at the rate of 4% over Wall Street Journal's published prime rate as published from time to time per annum, shall be added to the next monthly Rent installment coming due, and shall be collected as additional Rent. (d) Lessee shall be solely responsible for its equipment, furniture, fixtures, inventory and other personal property located on the Premises and shall be solely responsible for carrying whatever insurance it desires with respect to such property. (e) Lessor and Lessor's mortgagee, if any, shall at all times be named as an additional insured on all policies of insurance required by this Lease and Lessee shall provide to Lessor and Lessor's mortgagee, if any, a current certificate showing compliance with this covenant, provided that Lessor shall have notified Lessee in writing of the name and address of such mortgagee. Each policy of insurance shall require notice to Lessor and Lessor's mortgagee at least thirty (30) days prior to cancellation.

INSURANCE--LESSEE. (a) Lessee shall, throughout the term of this Lease, maintain a standard fire and extended coverage insurance policy with owners, landlords and tenants an “all risk” endorsement on the Premises leased in an amount equal to the full insurable value replacement cost thereof, in a company or companies rated Best A or better. The initial replacement cost agreed upon by the parties is set forth in Exhibit G. The Parties shall annually review the replacement cost and agree upon the replacement cost for the ensuing year. If the Parties cannot mutually agree on a replacement cost each year after the first year, and naming Lessor and Lessor's mortgagee or mortgagees as additional insuredsthe cost shall be set at the previous year plus an increase based upon the consumer price index. Each year a written record of such agreement shall be signed by both parties. (b) Lessee shall, at its expense, during the term hereof, maintain and deliver to Lessor general public liability insurance policy with owners, landlords and tenants endorsement policies with respect to the premises naming Premises and deliver to Lessor certificates of insurance evidencing such insurance with respect to the Premises. Such policies shall name the Lessee as the named insured, Lessor as an additional insured, and if requested by Lessor's mortgagee or mortgagees , Lessor’s mortgagee, as additional insureds, with insureds as their interests may appear. Such insurance shall have limits of at least $2,000,000 for injury or death to any one person and $2,000,000 for any one accident, and $1,000,000 with respect to damage to property. (c) Said . Such policies of insurance shall be in whatever form and with such insurance companies as are reasonably satisfactory to Lessor, and shall provide for at least ten days' ’ prior notice to Lessor of cancellation. At least ten days before any such policy expires, Lessee shall supply to Lessor with reasonable written assurance of continuation of such insurance and at least ten days after such policy expires; Lessee shall supply to Lessor a substitute thereforecertificate of insurance evidencing continuing insurance. Lessor may, together with evidence that the premiums therefore have been paid. If Lessee fails in order to do soprevent a lapse of coverage, Lessor may procure such policies or pay such premiumspremiums thereon. In such case, Lessor shall notify Lessee in writing of Lessor’s intent, and all amounts so paid by Lessor, with interest thereon at the rate of 4% over Wall Street Journal's ’s published prime rate as published from time to time per annum, shall be added to the next monthly Rent rent installment coming due, and shall be collected as additional Rentrent. (dc) Lessee shall be solely responsible for its equipment, furniture, fixtures, inventory and other personal property located on the Premises and shall be solely responsible for carrying whatever insurance it desires with respect to such property. (ed) Lessor and Lessor's ’s mortgagee, if any, shall at all times be named as an co-additional insured insureds or loss payees as their interests may appear on all policies of insurance required by this Lease and Lessee shall provide to Lessor and Lessor's ’s mortgagee, if any, a current certificate showing compliance with this covenantrequirement, provided that Lessor shall have notified Lessee in writing of the name and address of such mortgagee. Each policy of insurance shall require notice to Lessor and Lessor's ’s mortgagee prior to cancellation.

INSURANCE--LESSEE. (a) Lessee shall, throughout the term Initial Term or Renewal Term(s) of this Lease, maintain fire and extended coverage insurance with owners, landlords and tenants endorsement on the Premises leased in an amount equal to the full insurable value thereof, in a company or companies rated Best A or better, and naming Lessor and Lessor's mortgagee or mortgagees as additional insureds. (b) Lessee shall, at its expense, during the term hereof, maintain and deliver to Lessor general liability insurance policy with owners, landlords and tenants endorsement with respect to the premises naming Lessor and Lessor's mortgagee or mortgagees as additional insureds, with limits of at least $2,000,000 for injury or death to any one person and $2,000,000 for any one accident, and $1,000,000 with respect to damage to property. (c) Said policies of insurance shall be in whatever form and with such insurance companies as are reasonably satisfactory to Lessor, and shall provide for at least ten days' prior notice to Lessor of cancellation. At least ten days before any such policy expires, Lessee shall supply Lessor with a substitute therefore, together with evidence that the premiums therefore have been paid. If Lessee fails to do so, Lessor may procure such policies or pay such premiums. In such case, all amounts so paid by Lessor, with interest thereon at the rate of 4% over Wall Street Journal's published prime rate as published from time to time per annum, shall be added to the next monthly Rent installment coming due, and shall be collected as additional Rent. (d) Lessee shall be solely responsible for its equipment, furniture, fixtures, inventory and other personal property located on the Premises and shall be solely responsible for carrying whatever insurance it desires with respect to such property. (e) Lessor and Lessor's mortgagee, if any, shall at all times be named as an additional insured on all policies of insurance required by this Lease and Lessee shall provide to Lessor and Lessor's mortgagee, if any, a current certificate showing compliance with this covenant, provided that Lessor shall have notified Lessee in writing of the name and address of such mortgagee. Each policy of insurance shall require notice to Lessor and Lessor's mortgagee at least thirty (30) days prior to cancellationcancellation or expiration.