Common use of Insurance Subrogation and Waiver of Claims Clause in Contracts

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability insurance, with limits of not less than $2,000,000 per occurrence for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and any insurance carried by Landlord or any other insured shall be excess and noncontributory. Tenant shall also maintain during the Term workers' compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability insurance, with limits of not less than $2,000,000 per occurrence for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Landlord shall also, as part of Operating Expenses, maintain during the Term workers' compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred percent (100%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time as named insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty (30) days prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty (30) days prior to expiration of such policies. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Participate Com Inc)

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Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, insurance in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to to. reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord Landlord, Xxxxxxx Properties Ltd. and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time Xxxxxxx Properties of Massachusetts Ltd. as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.therefore

Appears in 1 contract

Samples: Office Lease (Corechange Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 1,000,000 per person per occurrence for personal injury, bodily injury injury, or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributorynon-contributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures fixtures, and equipment, equipment for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 1,000,000 per person per occurrence for personal injury, bodily injury injury, or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations foundations, and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time the Management Company, McKixxxx Xxxmercial, Inc. as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder". All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of to their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (First Virtual Holding Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability insurance, with limits of not less than $2,000,000 3,000,000 per occurrence for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and any insurance carried by Landlord or any other insured shall be excess and noncontributory. Tenant shall also maintain during the Term workers' compensation insurance as required by statute, employer's ’s liability insurance in an amount of not less than $500,000 1,000,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's ’s personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability insurance, with limits of not less than $2,000,000 3,000,000 per occurrence for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Landlord shall also, as part of Operating Expenses, maintain during the Term workers' compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred percent (100%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's ’s insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other additional coverage as Landlord shall reasonably deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord as named insureds Landlord, any Holder of which Tenant has notice, and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time as named insuredstime) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty (30) days prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty (30) days prior to expiration of such policies. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's ’s insurer shall have a rating of at least A-X in the then current edition of Best's ’s Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's ’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's ’s operations therein therein, including errors and omissions coverage for design professionals in connection with alterations to the Premises, as may be reasonably requested by Landlord, provided such increased amounts and other types of insurance are consistent with the amounts and types of insurance being required by owners of comparable buildings in the Chicago metropolitan area.

Appears in 1 contract

Samples: Office Lease (Huron Consulting Group Inc.)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty twenty (3020) days prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Peapod Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 5,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipmentequipment for, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property Building (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 2524). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that as Landlord shall reasonably may designate in a written notice to Tenant from time to time as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (C Bridge Internet Solutions Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability insurancecomprehensive (or commercial) general liability Insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and thereof for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance Insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests Interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability insurancecomprehensive (or commercial) general liability Insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in Insurance. In an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord Landlord, Xxxxxxx Properties Ltd. and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time Xxxxxxx Properties of Massachusetts Ltd. as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look lock solely to, and seek recovery only from, their respective insurance carriers in carriers. In the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlordtherefore.

Appears in 1 contract

Samples: Office Lease (Corechange Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence $ 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred percent (100%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 2524). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that as Landlord shall reasonably may designate in a written notice to Tenant from time to time as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every two years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,BLANKET POLICIES." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation subornation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. By this Article, Landlord and Tenant agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss. The parties each hereby waive all rights and claims against each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver shall carry and maintain during not affect the entire Term, at Tenant's sole cost and expense, increased amounts right of the insured to recover thereunder from its own insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlordcarrier.

Appears in 1 contract

Samples: Lease Agreement (Infocure Corp)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000.00 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause includingcause, including but not limited to, to vandalism and malicious mischief, theft, water damage of any type, type (including sprinkler leakage, bursting or stoppage of pipes, explosion), business interruptioninterruptions, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000.00 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributorynoncontributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25)Holder. Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time as named insuredsadditional insured) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty twenty (3020) days prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every three (3) years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder". All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. If Tenant shall carry fail to comply with any of the requirements contained relating to insurance, Landlord may obtain such insurance and maintain during Tenant shall pay to Landlord, on demand as additional Rent thereunder, the entire Term, at premium cost thereof. If an increase in any insurance premiums paid by Landlord for the Project is caused by Tenant's sole cost and expense, increased amounts use of the insurance required to be carried by Leased Premises, or if Tenant pursuant to this Article 11, vacated the Leased Premises and such other reasonable types of insurance coverage and caused an increase in such reasonable amounts covering premiums, then Tenant shall pay as additional Rent the Premises and Tenant's operations therein as may be reasonably requested by amount of such increase to Landlord.. Tenant agrees to pay any amount due under this section within ten (10) days following receipt of the invoice showing the additional Rent due. -------- --------- Tenant Landlord

Appears in 1 contract

Samples: Office Lease (Unison Software Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time EAGLE WESTERN MGMT. as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Interactive Flight Technologies Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability commercial general liability insurance, with limits of not less than $2,000,000 per occurrence combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' workers compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's ’s personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, shall maintain during the Term Commercial General Liability commercial general liability insurance, with limits of not less than $2,000,000 per occurrence combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, also maintain during the Term workers' workers compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's ’s insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be the required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time Builders Bank, an Illinois banking corporation, as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days’ prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. .” All insurance required hereunder shall be provided by responsible insurers and Tenant's ’s insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (NGTV)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time JMB Properties Company as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (National Financial Partners Corp)

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Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability insurancecomprehensive (or commercial) general liability insurance including premises operations, products/completed operations and contractual liability coverage with limits of not less than $2,000,000 per occurrence 3,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' compensation worker compensation/Employers liability insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's improvements, personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, Boiler and machinery and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests interest of Tenant (subject to reasonable deductible amounts$1,000.00 maximum deductible). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time Landlord, Jones Lang Wootton Realty Advxxxxx xxx pxxxxxxx manager as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty (30) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty (30) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder". All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. Landlord and have a minimum Best's rating of A-V.I. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Furthermore, if Tenant shall carry hires a contractor or subcontractor said contractors' general liability insurance will name Landlord, Jones Lang Wootton Realty Axxxxxrs and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein property manager as may be reasonably requested by Landlordadditional insureds.

Appears in 1 contract

Samples: Lease Extension Agreement (Olympic Cascade Financial Corp)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amountsamounts appropriate for a company of Tenant's size and financial standing). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability insurancecomprehensive (or commercial) general liability insurance with respect to the Property, with limits of not less than $2,000,000 per occurrence combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (100%90%)(except with respect to earthquake coverage) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate may reasonably elect to carry or that may be required by any Holder (as defined in Article 25). Tenant Each Party shall provide Landlord the other with certificates evidencing such coverage (and, with respect to liability coverage, 1888 Century Park East [SCPIE Holdings Lease] 17 showing Landlord the other and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time the case of Landlord, Landlord's property manager, as named additional insureds) prior to Tenant's performance of any work at the Commencement DatePremises, which and Tenant's certificate shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord reduced or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty (30) days days' prior written notice to Landlord, and each party shall provide renewal certificates to Landlord the other at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage to that coverage then provided by other similarly situated tenants in the Building. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Scpie Holdings Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability commercial general liability insurance, with limits of not less than $2,000,000 per occurrence 3,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipmentequipment for, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Tenant's insurance shall be maintained with insurance companies licensed to do business in the Commonwealth of Massachusetts and having a Best's rating of not less than A-11. Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 3,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred percent (100%) of at least the full insurable replacement value of the Property Building (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, as well as rental insurance and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25)Holder. Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that as Landlord shall reasonably may designate in a written notice to Tenant from time to time as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than once in any five year period during the Term, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunderhereunder by the party suffering such damage. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlordtherefore.

Appears in 1 contract

Samples: Office Lease (Management Network Group Inc)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' Term, worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as is Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, and with respect to liability coverage, coverage showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time JMB Properties Company as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies,." provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Southern Community Bancorp)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than One Million ($2,000,000 per occurrence 1,000,000) combined single limit for personal injury, bodily injury or death, death or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and ; primary, non-contributory, extended coverage or "all-risk" property damage insurance, insurance in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, footings and such risks required to be covered by Tenant's insurance, insurance and subject to reasonable deductible amounts), ) or such other amount necessary to prevent Landlord from being a co-insured, ; and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord Landlord, the Additional Insureds set forth under Basic Lease Terms and such other parties that affiliates of or managers for Landlord as Landlord shall reasonably designate specify in a written notice writing to Tenant from time to time as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty twenty (3020) days prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder". All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective respective, property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all ail rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that that, so long as no material additional premium is charged therefor, their respective insurance policies are noware, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Millers Mutual Fire Insurance Co)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability insurance, with limits of not less than $2,000,000 per occurrence for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and any insurance carried by Landlord or any other insured shall be excess and noncontributory. Tenant shall also maintain during the Term workers' compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributory, "all-risk" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability insurance, with limits of not less than $2,000,000 per occurrence for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Landlord shall also, as part of Operating ExpensesExpanses, maintain during the Term workers' compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-risk" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates certificates, evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that Landlord shall reasonably designate in a written notice to Tenant from time to time as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled without at least thirty twenty (3020) days prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policiespolices," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder. All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X A- and IX in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Capella Education Co)

Insurance Subrogation and Waiver of Claims. Tenant shall maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof). Such insurance shall be primary and ) for any insurance carried by Landlord or any other insured shall be excess and noncontributoryone occurrence. Tenant shall also maintain during the Term workers' worker compensation insurance as required by statute, employer's liability insurance in an amount of not less than $500,000 per occurrence, and primary, noncontributorynon-contributory, "all-riskrisks" property damage insurance covering Tenant's personal property, business records, fixtures and equipment, for damage or other loss caused by fire or other casualty or cause including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, explosion, business interruption, . and other insurable risks in amounts not less than the full insurable replacement value of such property and full insurable value of such other interests of Tenant (subject to reasonable deductible amounts). Landlord shall, as part of Operating Expenses, maintain during the Term Commercial General Liability comprehensive (or commercial) general liability insurance, with limits of not less than $2,000,000 per occurrence 1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof)) for any one occurrence. Landlord shall also, as part of Operating Expenses, maintain during the Term workers' worker compensation insurance as required by statute, and primary, non-contributory, extended coverage or "all-riskrisks" property damage insurance, in an amount equal to one hundred at least ninety percent (10090%) of the full insurable replacement value of the Property (exclusive of the costs of excavation, foundations and footings, and such risks required to be covered by Tenant's insurance, and subject to reasonable deductible amounts), or such other amount necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate or that may be required by any Holder (as defined in Article 25). Tenant shall provide Landlord with certificates evidencing such coverage (and, with respect to liability coverage, showing Landlord and such other parties that as Landlord shall reasonably may designate in a written notice to Tenant from time to time as named additional insureds) prior to the Commencement Date, which shall state that such insurance coverage may not be changed in any material manner (provided that a change shall be deemed material if it adversely affects Landlord or causes Tenant's insurance to fail to comply with the terms of this Article 11) or canceled cancelled without at least thirty twenty (3020) days days' prior written notice to Landlord, and shall provide renewal certificates to Landlord at least thirty twenty (3020) days prior to expiration of such policies. Landlord may periodically, but not more often than every five years, require that Tenant reasonably increase the aforementioned coverage. Except as provided to the contrary herein, any insurance carried by Landlord or Tenant shall be for the sole benefit of the party carrying such insurance. Any insurance policies hereunder may be "blanket policies," provided that payments made in connection with other properties covered by such blanket policies shall not diminish the insurance amounts required hereunder". All insurance required hereunder shall be provided by responsible insurers and Tenant's insurer shall have a rating of at least A-X in the then current edition of Best's Key Rating Insurance guide and shall otherwise be reasonably acceptable accepted to Landlord. By this Article, Landlord and Tenant intend that their respective property loss risks shall be borne by responsible insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against such each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right of the insured to recover thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that said waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. Tenant shall carry and maintain during the entire Term, at Tenant's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 11, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant's operations therein as may be reasonably requested by Landlord.

Appears in 1 contract

Samples: Office Lease (Industrial Training Corp)

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