Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Tenant’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, or property damage occurring in and about the Premises. 10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 2 contracts
Samples: Lease Agreement, Industrial Building Lease (Dendreon Corp)
Insurance to be Maintained by Tenant. 4.1.1. The Tenant shall purchase, maintain at its own expense, throughout the Term, (a) insurance against loss or liability in connection with bodily injury, death, property damage or destruction, occurring within the Premises or arising out of the use thereof by the Tenant or its agents, employees, officers, invitees, visitors and keep in force at all times during this Lease the guests, under one or more policies of General Comprehensive Liability insurance set forth below having such limits as to each as are reasonably required by the Landlord from time to time, but in any event of not less than a minimum coverage of $2,000,000 combined single limit per occurrence, and shall contain broad form GCL Endorsement or its equivalent and (collectively, “Tenant’s Policies”)b) workers compensation insurance as may be required by applicable law. All Tenant’s Policies Each such policy shall (a) name as an insured thereunder the State of Maryland and the Tenant, (b) by its terms be considered primary and non-contributory with respect to any other insurance (if any) carried by the Landlord or its successors and assigns, (c) by its terms, provide the Landlord with thirty (30) days prior written notice before cancellation, non-renewal, or material change to a policy, and (d) be issued by an insurance company with a Best rating insurer of A or better and otherwise reasonably acceptable to Landlord and shall be recognized responsibility licensed to do business issue such policy in the state in which the Premises is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably requireMaryland. The Tenant shall obtain from its insurer and deliver to the Landlord an endorsement to the Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as additional insured; (3) provide coverage, policy to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage evidence that Landlord may carry; is named as an additional insured and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Tenant’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall will be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within given thirty (30) days following notice prior to cancellation, non-renewal, or material change to the policy.
(a) At least five (5) days before the Commencement Date, the Tenant shall deliver to the Landlord an original or a signed duplicate copy of each such policy (or at the Landlord’s demand, as Additional Rent or (ii) impose on Tenant, as Additional Rentoption, a monthly delinquency feecertificate thereof), for each month during which and (b) at least thirty (30) days before any such policy expires, the Tenant shall deliver to the Landlord an original or a signed duplicate copy of a replacement policy thereof (or at the Landlord’s option, a certificate thereof). In the event the Tenant fails to comply with pay any insurance premium when due, the foregoing obligation, in an amount equal to five percent (5%) Landlord shall have the option but not the obligation of paying such insurance premiums on behalf of the Base Rent then in effect. Tenant and, the Tenant shall give prompt notice immediately, upon demand, repay such sum to Landlord and Agent of any bodily injury, death, personal injury, or property damage occurring in and about the Premisesas Additional Compensation.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease Lease, the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best Best’s rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 30 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “"Additional Insured-Managers or Landlords of Premises” " endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentencesentence and such failure continues for five (5) days after written notice from Landlord, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the monthly Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per locationlocation (such limits may be provided through a combination or primary and excess policies); (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost)property; and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 2 contracts
Samples: Industrial Building Lease (United Natural Foods Inc), Industrial Building Lease (United Natural Foods Inc)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease Lease, the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating Best’s rating/financial size category of A A/VIII or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (dc) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Certified copies of Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “"Additional Insured-Insured Managers or Landlords of Premises” " endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) days notice addresses prior to the applicable expiration date of each Tenant’s PolicyPolicy or as soon as reasonably practicable. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property. Tenant shall provide written notice to Landlord in accordance with Section 24.2 below prior to the cancelation or material modification of any of Tenant’s Policies. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per locationlocation (these limits may be achieved by a combination of a primary policy and an excess or umbrella liability policy); (ii) comprehensive automobile business auto liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, Tenant ; and (v) if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insuranceinsurance with limits acceptable to Landlord.
Appears in 2 contracts
Samples: Industrial Building Lease, Industrial Building Lease (Clearfield, Inc.)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease Lease, the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating Best’s rating/financial size category of A A/VIII or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (dc) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Certified copies of Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Insured Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten thirty (1030) days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an – 9 – amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property. Tenant shall provide written notice to Landlord in accordance with Section 24.2 below prior to the cancelation or material modification of any of Tenant’s Policies. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 1,000,000.00 per occurrence, and $5,000,000.00 2,000,000.00 annual general aggregate, per locationlocation (these limits may be achieved by a combination of a primary policy and an excess or umbrella liability policy); (ii) comprehensive automobile business auto liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, ; and (v) if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insuranceinsurance with limits acceptable to Landlord.
Appears in 2 contracts
Samples: Industrial Building Lease (ArcherDX, Inc.), Industrial Building Lease (ArcherDX, Inc.)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an Tenant shall maintain insurance company during the entire term of this Lease naming Tenant as insured and Landlord and Landlord's agents as additional insureds with a Best rating of A or better terms, coverages and otherwise reasonably acceptable in companies satisfactory to Landlord and with such commercially reasonable increases in limits as Landlord may from time to time request, but initially Tenant shall be licensed to do business maintain the following coverages in the state following amounts:
(i) Commercial general liability insurance, including contractual liability insuring the indemnification provisions contained in which the Premises is located; this Lease, in an amount not less than (a) $1,000,000 combined single limit per occurrence. and (b) provide that said $2,000,000 in the aggregate,
(ii) Insurance for special extended coverage, commonly referred to as "all risks" including sprinkler leakage, for the full replacement cost of all leasehold improvements in or to the Leased Premises, including leasehold improvements contemplated to be made pursuant hereto, and of all office furniture, trade fixtures, office equipment, merchandise and all other items of Tenant's property on the Leased Premises,
(iii) Business interruption insurance (including for loss of income and for extra expense) in an amount necessary to enable Tenant to maintain the capacity to operate in its normal course of business during the period of restoration.
(iv) Workers' compensation and any other statutorily required insurance; and
(v) Automobile liability insurance in amounts customary for businesses engaged in the same business as Tenant.
(b) During any construction, reconstruction, renovation, remodeling or similar activity of Tenant, Tenant shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given maintain "builders risk" insurance, commercial general liability, including products and completed operations and independent contractors coverage, automobile liability insurance and workers' compensation insurance naming Tenant as insured and Landlord and Landlord's agents as additional insureds with terms, coverages and in companies satisfactory to Landlord; Landlord in such amounts as Landlord may request but for no less than full replacement cost.
(c) provide for deductible amounts The foregoing insurance may be provided by a company-wide blanket insurance policy or policies maintained by or on behalf of Tenant, provided that are any losses to such company-wide policies would not materially diminish the limit of insurance required to be carried hereby, and the same is reasonably acceptable satisfactory to Landlord (and its lender, if applicable) and Landlord.
(d) otherwise be in such formTenant shall, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Tenant’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date commencement of the term of this Lease and renewals thereof thereafter during the term of this Lease, furnish to Landlord policies or certificates evidencing such (or any other required) coverage, which policies or certificates shall state that such insurance coverage may not be delivered to Landlord’s Corporate and Regional Notice Addresses changed or canceled without at least ten (10) days days' prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt written notice to Landlord and Agent of any bodily injury, death, personal injury, or property damage occurring in and about the PremisesTenant.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Samples: Lease Agreement (Asconi Corp)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “"Tenant’s 's Policies”"). All Tenant’s 's Policies shall (a) be issued by an insurance company with a Best Best's rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 30 days’ ' prior written notice shall have been given to Landlord, provided however that if Tenant's insurance does not provide for such 30 days' prior notice, then such notice requirement shall be satisfied by receipt of 30 days' prior written notice from Tenant to Landlord prior to any cancellation or material modification of such insurance; (c) provide c)provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, ,if applicable) ); and (d) otherwise be in such suc h form, and include such coverages, as Landlord may reasonably require. The Tenant’s 's Policies described in (i) and (ii) below shall (1) provide 1)provide coverage on an occurrence basis; (2) with respect to (i) only, name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, primary with respect to vicarious liability imputed to the additional insured(s) for injuries or damages caused by Tenant (with the undersxxxxxxgthat the Landlord's general and not in excess of, liability policies are endorsed to provideexcess coverage that where Landlord may carryis added as an additional insured to Tenant's Policies; and (6and(6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s 's Policies (or, at Tenant’s Landlord's option, Certificates of Insurance and applicable endorsements, including, without limitation, an “"Additional Insured-Managers Insured Manag ers or Landlords of Premises” " endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses 's notice addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s 's Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 30 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord First Industrial, L.P. (and its lender, if applicable) as additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, ; and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Samples: Industrial Building Lease (Insys Therapeutics, Inc.)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best Best’s rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 30 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; and (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Insured Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, death or material or significant personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property about which Tenant has actual knowledge (unless same involves or affects only Tenant’s personal property). Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation workers’compensation insurance per the applicable state statutes covering all employees of Tenant, ; and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating Best’s rating/financial size category of A A/VIII or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance for the Premises shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (dc) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “"Additional Insured-Managers or Landlords of Premises” " endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses Address, as set forth on the signature page to this Lease at least ten thirty (1030) days prior to after the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Tenant shall be in Default under this Lease and, in addition to any other remedy, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 1,000,000.00 per occurrence, and $5,000,000.00 2,000,000.00 annual general aggregate, per locationlocation (these limits may be achieved by a combination of a primary policy and an excess or umbrella liability policy); (ii) comprehensive automobile liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property Property (defined below), at its full replacement costcost (in expansion of the foregoing, any such commercial property insurance must provide full, primary coverage for Tenant’s finished goods and inventory, including, without limitation any water damage to such property); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, Tenant and employers liability insurance with a limit of at least $1,000,000.00; and (v) if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insuranceinsurance with limits acceptable to Landlord. Tenant agrees that Landlord shall have the right to adjust the coverage limits of Tenant’s Policies every fifth (5th) anniversary date of this Lease to commercially reasonable limits based upon comparable property within a five (5) mile radius of the Premises.
Appears in 1 contract
Samples: Lease Agreement (Water Now, Inc.)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best Best’s rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 30 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include included such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord Landlord: Carlyle/FR Houston Investors, L.P. (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” ’ endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or generalor excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 1,000,000.00 per occurrence, and $5,000,000.00 2,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, ; and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Insurance to be Maintained by Tenant. 8.2.1. The Tenant shall purchase, maintain at its own expense, throughout the Term, insurance against loss or liability in connection with bodily injury, death, property damage or destruction, occurring within the Premises or arising out of the use thereof by the Tenant or its agents, employees, officers, subtenants, invitees, visitors and keep in force at all times during this Lease the guests, under one or more policies of general public liability insurance set forth below having such limits as to each as are reasonably required by the Landlord from time to time, but in any event of not less than (collectively, “Tenant’s Policies”)a) Two Million Dollars ($2,000,000) for bodily injury to or death of any person or persons and damage to property. All Tenant’s Policies Each such policy shall (a) name Tenant as the insured thereunder and the Landlord (and, at the Landlord's request, any Mortgagee), as additional insureds, (b) by its terms, be considered primary and non-contributory with respect to any other insurance carried by the Landlord or its successors and assigns, (c) by its terms, be cancelable only on at least thirty (30) days' prior written notice to the Landlord (and, at the Landlord's request, any such Mortgagee), and (d) be issued by an insurance company with a Best rating insurer of A or better and otherwise reasonably acceptable to Landlord and shall be recognized responsibility licensed to do business issue such policy in Maryland.
(a) At least five (5) days before the state in which Commencement Date, the Premises is located; Tenant shall deliver to the Landlord a certificate of such policy and (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Tenant’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s demandbefore any such policy expires, the Tenant shall deliver to the Landlord a certificate of a replacement policy therefor; provided, that so long as such insurance is otherwise in accordance with the provisions of this Section, the Tenant may carry any such insurance under a blanket policy covering the Premises for the risks and in the minimum amounts specified in paragraph 8.2.1, in which event the Tenant shall deliver to the Landlord two (2) insurer's certificates therefor in lieu of an original or a copy thereof, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, or property damage occurring in and about the Premisesaforesaid.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Insurance to be Maintained by Tenant. Tenant shall purchaseTenant, at its own expense, and keep in force shall ------------------------------------ maintain at all times during the term of this Lease comprehensive general public liability insurance with respect to the policies Premises and the conduct or operation of the business therein, protecting Landlord, its agents, its beneficiaries and Tenant against any and all claims for injury and damage to persons or property or for the loss of life or property occurring in, on, or about the Premises, arising out of the act, negligence, omission, nonfeasance, or malfeasance of Tenant, its employees, agents, contractors, customers, licensees, and invitees. Such insurance set forth below shall be carried in a minimum amount (collectivelycombined single limit) of not less than Two Million Dollars ($2,000,000) for bodily injury or death to any one person or any number of persons in any one occurrence and not less than Two Million Dollars ($2,000,000) for property damage, “and shall not provide for deductible amounts. Landlord and its managing agent, and any Superior Lessor, Superior Mortgagee and other parties designated by Landlord whose names and addresses shall previously have been furnished to Tenant’s Policies”), shall be named as additional insureds. All Tenant’s Policies , at its expense, shall (a) be issued by also maintain at all times during the term of this Lease fire insurance, with extended coverage, vandalism and malicious mischief endorsements, in an insurance company amount adequate to cover full replacement value of all leasehold improvements and all fixtures, contents and wall and floor coverings in the Premises, and with a Best rating no deductible in excess of A or better and otherwise reasonably acceptable $1,000. Tenant shall deliver to Landlord and shall be licensed any additional named insured, all such policies or certificates of insurance, in form satisfactory to do business in Landlord, issued by the state in which insurance company or its authorized agent, along with receipts indicating that the Premises is located; (b) provide that said premiums for such insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall paid at least one (1) provide coverage on an occurrence basis; (2) name Landlord (and its lenderyear in advance, if applicable) as additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Tenant’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) days prior to the applicable expiration date Commencement Date. Tenant shall procure and pay for renewals of each Tenant’s Policy. In the event that Tenant fails, at any time or all such insurance from time to timetime before the expiration thereof and deliver to Landlord (and any additional named insured) such renewal policy or certificate thereof, to comply along with receipts indicating that the requirements of the preceding sentence, Landlord may (i) order premiums for such insurance and charge the cost thereof to Tenanthave been paid at least one (1) year in advance, which amount shall be payable by Tenant to Landlord within at least thirty (30) days following prior to the expiration of any existing policy. All such policies shall be issued by companies licensed to do business in the State of Illinois and acceptable to Landlord’s demand, as Additional Rent and all such policies shall contain a provision whereby the same cannot be canceled or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to materially modified unless Landlord and Agent any additional named insured are given at least thirty (30) days' prior written notice of any bodily injury, death, personal injury, such cancellation or property damage occurring in and about the Premises.
10.2.1material modification. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in Landlord may require the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile any public liability insurance covering to be maintained by Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in be increased from time to time so that the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurancethereof adequately protects Landlord's interest.
Appears in 1 contract
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease Lease, the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating Best’s rating/financial size category of A A/VIII or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (dc) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Certified copies of Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Insured Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten thirty (1030) days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five ten percent (510%) of the Base Rent then in effect. In the event of any incident which could give rise to a claim under the insurance policies described in this Section, Tenant shall give prompt advise Landlord in writing within twenty-four (24) hours, providing as much detail about the incident as is known at the time. Following such initial notice, and at Landlord’s request, Tenant shall promptly provide Landlord any documents or information requested by Landlord related to the incident. Tenant shall provide written notice to Landlord and Agent in accordance with this Lease prior to the cancelation or material modification of any bodily injury, death, personal injury, or property damage occurring in and about the Premises.
10.2.1of Tenant’s Policies. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per locationlocation (these limits may be achieved by a combination of a primary policy and an excess or umbrella liability policy); (ii) comprehensive automobile business auto liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, Tenant ; and (v) if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insuranceinsurance with limits acceptable to Landlord.
Appears in 1 contract
Samples: Industrial Building Lease (NANOPHASE TECHNOLOGIES Corp)
Insurance to be Maintained by Tenant. 5.2.1. The Tenant shall purchase, maintain at its own expense, throughout the Term, insurance against loss or liability in connection with bodily injury, death, property damage or destruction, occurring within the Premises or arising out of the use thereof by the Tenant or its agents, employees, officers, subtenants, invitees, visitors and keep in force at all times during this Lease the guests, under one or more policies of commercial general liability insurance set forth below having such limits as to each as are reasonably required by the Landlord from time to time, but in any event having a combined single limit of not less than Three Million Dollars (collectively$3,000,000) (which limit, if such policy is carried on a “Tenant’s Policies”blanket” basis, shall be written on a per location basis). All Tenant’s Policies Each such policy shall (a) be issued by an insurance company with a Best rating of A or better and otherwise reasonably acceptable to name as additional insureds thereunder the Landlord and shall be licensed to do business in the state in which Landlord’s directors, officers, and agents (and at the Premises is located; Landlord’s request, any Senior Holder), (b) provide that said insurance shall be written as primary policy, not contributing with and not in excess of coverage which the Landlord may carry, (c) by its terms, be canceled or materially modified unless cancelable only on at least thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to the Landlord (and its lenderand, if applicable) at the Landlord’s request, any such Senior Holder), and (d) otherwise be issued by an insurer of recognized responsibility licensed to issue such policy in such formthe state in which the Property is located.
5.2.2. Tenant, at its sole cost and include such coveragesexpense, as Landlord may reasonably require. The shall also maintain throughout the Term a policy insuring against damage to or destruction of the Tenant’s Policies described leasehold improvements, furniture, fixtures, equipment and other personal property installed in (i) and (ii) below shall (1) provide coverage or otherwise located on an occurrence basis; (2) name Landlord (and its lender, if applicable) as additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; Premises.
5.2.3. At least five (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Tenant’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) days prior to the applicable expiration date of each Tenant’s Policy. In Commencement Date, the event that Tenant failsshall deliver to the Landlord a certificate evidencing such insurance, and at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within least thirty (30) days following Landlord’s demandbefore any such policy expires, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice deliver to the Landlord and Agent a certificate evidencing such replacement. On request, following an insurable event, Landlord shall be provided an original or signed duplicate copy of any bodily injury, death, personal injury, or property damage occurring in and about each policy of insurance required to be maintained by the PremisesTenant hereunder.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Samples: Lease Agreement
Insurance to be Maintained by Tenant. 10.2.1 Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease Lease, the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best Best’s rating of A or better and otherwise reasonably acceptable to Landlord Landlord, and shall be licensed to do business in the state in which the Premises is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 10 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) ); and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured on all Tenant Policies except for auto and worker’s compensation insurance, which shall not name Landlord as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provisionintentionally omitted; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. intentionally omitted.All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Samples: Office Facility Lease (I Trax Inc)
Insurance to be Maintained by Tenant. Tenant shall purchaseshall, at its own cost and expense, and keep in force at all times during this Lease the Term (except as expressly limited below), obtain and maintain in full force and effect policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall for the protection of Landlord and Tenant providing the following coverages and complying with the following requirements:
(a) be issued by an commercial general liability insurance company with a Best rating combined personal injury and property damage limit of A not less than One Million Dollars ($1,000,000) for each occurrence and not less than Two Million Dollars ($2,000,000) in the aggregate for this location, insuring against all liability of Tenant and its representatives arising out of and in connection with Tenant’s use, maintenance or better occupancy of the Premises and otherwise all areas appurtenances thereto;
(b) Landlord, and other parties designated in writing by Landlord and having an interest in the Building, will be named as additional insured and Tenant will increase its insurance coverage as may be required from time to time if, in Landlord’s reasonable opinion, the amount of public liability coverage at that time is not adequate;
(c) Tenant will furnish Landlord a certificate evidencing said insurance, prepared on the XXXXX 27 form or other form reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises is located; (b) provide that said such policies of insurance shall not be canceled will contain provisions preventing their cancellation, discontinuance or materially modified unless alteration without at least thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and ;
(d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as additional insured; (3) provide coverage, the insurance secured by Tenant will insure performance by Tenant of the indemnity provisions of this Lease to the extent insurableof claims for bodily injury and property damage, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) will be primary, not contributing with, considered primary and not in excess of, of coverage that Landlord may carry; , and will afford coverage after the termination of this Lease for all claims based on acts, omissions, injury or damage which occurred or arose in whole or in part during the term of this Lease;
(6e) provide coverage the insurance secured by Tenant will apply on a primary basis to Landlord, even if Landlord has other liability coverage;
(f) Tenant will at its expense obtain and maintain all-risks property and casualty insurance coverage, written at replacement cost value and with no exclusion for a pollution incident arising from a hostile fire. All replacement cost endorsement, covering all Tenant’s Policies (orpersonal property in the Premises and all improvements, at Tenant’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers alterations or Landlords of Premises” endorsement) shall be delivered to Landlord prior additions made to the Commencement Date and renewals thereof shall be delivered Premises by Tenant;
(g) Business interruption insurance covering those risks referred to Landlord’s Corporate and Regional Notice Addresses at least ten in Section (10f) days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, above in an amount equal to five percent all Monthly Base Rent, Additional Rent and other sums payable under this Lease for a period of twelve (5%12) months commencing with the date of the Base Rent then in effect. Tenant shall give prompt notice loss; and
(h) all insurance required under this Section will be issued by insurance companies licensed to Landlord and Agent of any bodily injury, death, personal injury, or property damage occurring in and about the Premises.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, do business in the amount jurisdiction where the Building is located and such companies will have a policyholder rating of not less than $2,000,000.00 per occurrence, at least “A” and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths be assigned a financial size category of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto least “Class X” as rated in the amount most recent edition of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant“Best’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insuranceKey Rating Guide.”
Appears in 1 contract
Samples: Lease Agreement (Ikaria, Inc.)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best Best’s rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located, unless agreed to otherwise by Landlord; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlordcontain a standard 30 day cancellation policy; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carryprimary with respect to vicarious liability imputed to the additional insured(s) for injuries or damages caused by Tenant; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “"Additional Insured-Managers or Landlords of Premises” " endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the PremisesProperty.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.00, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Samples: Industrial Building Lease (GlenRose Instruments Inc.)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease Lease, the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating Best’s rating/financial size category of A A/VIII or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (dc) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Certified copies of Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “"Additional Insured-Insured Managers or Landlords of Premises” " endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) days notice addresses prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (ix) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (iiy) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property. Tenant shall provide written notice to Landlord in accordance with Section 24.2 below prior to the cancelation or material modification of any of Tenant’s Policies. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 3,000,000.00 annual general aggregate, per locationlocation (these limits may be achieved by a combination of a primary policy and an excess or umbrella liability policy); (ii) comprehensive automobile business auto liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, Tenant ; and (v) if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insuranceinsurance with limits acceptable to Landlord.
Appears in 1 contract
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during from and after the date of this Lease Lease, the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best Best’s rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 30 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord (and its lender, if applicable) as an additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Tenant’s option, or Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses notice addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) following notice to Tenant order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any known bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 1,000,000.00 per occurrence, and $5,000,000.00 2,000,000.00 annual general aggregate, and $4,000,000 umbrella per location; (ii) comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant.
10.2.2. Provided Tenant is not in default under this Lease and has not assigned its interest in this Lease to Landlord, to procure and pay directly for the commercial property insurance covering the Property. Tenant’s property insurance policy shall name Landlord (and its lender, if applicable) as mortgagee loss payee as its interest may appear, and if Tenant handlescover all improvements at any time situated upon the Premises, stores including, without limitation, the Improvements, the parking areas, against loss or utilizes Hazardous Materials in its business operationsdamage by fire, lighting, wind storm, hail storm, aircraft, vehicles, smoke, explosion, riot or civil commotion as provided by the Standard Fire and Extended Coverage Policy and all other risks of direct physical loss as insured against under Special Form (v“all risk” coverage). The insurance coverage shall be for not less than 100% of the full replacement cost of such improvements with agreed amount endorsement and building ordinance coverage and shall include rental interruption insurance for twelve (12) pollution legal liability insurancemonths of rent and operating expenses reimbursement.
Appears in 1 contract
Samples: Industrial Building Lease (Cybex International Inc)
Insurance to be Maintained by Tenant. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises Property is located; (b) provide that said insurance shall not be canceled or materially modified unless thirty (30) 30 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable) and (d) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The Tenant’s Policies described in (i) and (ii) below shall (1) provide coverage on an occurrence basis; (2) name Landlord First Industrial, L.P. (and its lender, if applicable) as additional insured; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. , All Tenant’s Policies (or, at TenantLandlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least ten (10) 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord within thirty (30) days following Landlord’s upon demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to five percent (5%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises.
10.2.1Property. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of (i) commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate, per location; (ii) comprehensive automobile liability insurance covering Tenant Tenant, against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000.001,000,000, combined single limit; (iii) commercial property insurance covering Tenant’s personal property (at its full replacement cost); and (iv) workers’ compensation insurance per the applicable state statutes covering all employees of Tenant, ; and if Tenant handles, stores or utilizes Hazardous Materials in its business operations, (v) pollution legal liability insurance.
Appears in 1 contract
Samples: Industrial Building Lease (Insys Therapeutics, Inc.)
