Common use of Insurance; Waiver of Subrogation Clause in Contracts

Insurance; Waiver of Subrogation. Prior to the commencement of the Term hereof, and from time to time thereafter as required by Lessor, Lessee will provide Lessor with a certificate of insurance or other evidence of (a) comprehensive liability insurance coverage, relative to Lxxxxx’s occupancy of the Leased Premises, with a combined single limit of $2,000,000, and (b) workmen’s compensation insurance (including employer’s liability insurance) in an amount not less than the statutory requirements for the State of Illinois for the workmen’s compensation insurance and $100,000 for the employer’s liability insurance. Lessee shall maintain such insurance in force throughout the Term of this Lease Such insurance shall name Lessor and all beneficiaries, agents, and mortgagees of lessor as additional insureds (on a primary and non-contributory basis) and shall include a specific waiver of subrogation. Lessor shall maintain a comprehensive insurance policy with respect to the Building including liability coverage, loss of rents, fire and other casualty insurance for the replacement cost of the Building and such other coverages as Lessor may reasonably require. Such policy shall be with a company and contain limits and coverage as are satisfactory to Lessor. Lessee shall pay Lessee’s Percentage of the premium on such policy during the Term of the Lease. Premiums will be equitably prorated for the first and last years of the Lease. If Lessee shall conduct any activity on the Leased Premises that result in a surcharge to Lessor’s fire insurance premium, then, Lessee shall reimburse Lessor for the entire amount of such surcharge. Lessee shall pay, as Additional Rent, Lessee’s Percentage of insurance premiums on an estimated basis, monthly in advance as provided for in Paragraph 6 below. Lessor and Lessee each hereby waive any and every claim for recovery from the other tor any and all loss of or damage to their respective property which loss or damage is covered by valid and collectible insurance policies, but only to the extent of the insurance proceeds received in connection with such loss or damage under said insurance policies.

Insurance; Waiver of Subrogation. Prior to the commencement of the Term hereof, and from time to time thereafter as required by Lessor, Lessee will provide Lessor with a certificate of insurance or other evidence of (a) comprehensive liability insurance coverage, relative to LxxxxxLessee’s occupancy of the Leased Premises, with a combined single limit of $2,000,000, and (b) workmen’s compensation insurance (including employer’s liability insurance) in an amount not less than the statutory requirements for the State of Illinois for the workmen’s compensation insurance and $100,000 for the employer’s liability insurance. Lessee shall maintain such insurance in force throughout the Term of this Lease Lease. Such insurance (other than worker’s compensation insurance) shall name Lessor and all beneficiaries, agents, and mortgagees of lessor Lessor as additional insureds (on a primary and non-contributory basis) and shall include a specific waiver of subrogation. Lessor shall maintain a comprehensive insurance policy with respect to the Building including liability coverage, loss of rents, fire and other casualty insurance for the replacement cost of the Building and such other coverages as Lessor may reasonably require. Such policy shall be with a company and contain limits and coverage as are satisfactory to Lessor. Lessee shall pay Lessee’s Percentage of the premium on such policy during the Term of the Lease. Premiums will be equitably prorated for the first and last years of the Lease. If Lessee shall conduct any activity on the Leased Premises that result in a surcharge to Lessor’s fire insurance premium, then, Lessee shall reimburse Lessor for the entire amount of such surcharge. Lessee shall pay, as Additional Rent, Lessee’s Percentage of insurance premiums on an estimated basis, monthly in advance as provided for in Paragraph 6 below. Lessor and Lessee each hereby waive any and every claim for recovery from the other tor for any and all loss of or damage to their respective property which loss or damage is covered by valid and collectible insurance policies, but only to the extent of the insurance proceeds received in connection with such loss or damage under said insurance policies.

Insurance; Waiver of Subrogation. Prior to the commencement of the Term hereof, and from time to time thereafter as required by Lessor, Lessee will provide Lessor with a certificate of insurance or other evidence of (a) comprehensive liability insurance coverage, relative to Lxxxxx’s occupancy Paragraph 8.1 of the Leased Lease is supplemented to provide that Lessor reserves the right, if there is a Breach by Lessee, or if required by any future lender having a security interest in all or any portion of the Premises, to estimate the current actual cost of the insurance and to require that such amount be paid in advance to Lessor by Lessee monthly in advance with the payment of Base Rent. If Lessor so requires payment monthly in advance, the monthly payments shall be that equal monthly amount which, over the number of months remaining before the month in which the premiums for the insurance become due, would provide a combined single limit fund large enough to fully pay the insurance cost. When the actual amount of $2,000,000the applicable insurance cost is known, the amount of such equal monthly advance payment shall be adjusted as required to provide the funds needed to pay the applicable insurance cost when due. If the amounts paid to Lessor by Lessee under the provisions hereof are insufficient to discharge the obligations of Lessee to pay such insurance cost as the same becomes due, Lessee shall pay to Lessor, upon Lessor’s demand, such additional sums as are necessary to pay such obligation. If the amounts paid to Lessor by Lessee hereunder exceed the amounts necessary to discharge the obligations of Lessee to pay such insurance cost, Lessor shall credit to Lessee such overcharge against the next insurance cost payment that is due. All monies paid to Lessor hereunder may be intermingled with other monies of Lessor and shall not bear interest. In the event of a Breach by Lessee in the performance of any obligations of Lessee under this Lease, then any balance of funds paid to Lessor under the provisions hereof may, at the option of Lessor, be treated as an additional Security Deposit under Paragraph 5. (b) workmen’s compensation Paragraph 8.6 of the Lease is supplemented to provide that (i) nothing contained in such Paragraph shall absolve Lessee of its obligations of maintenance and repair and payment of insurance deductibles under the Lease and (including employer’s liability insuranceii) in an amount not less than the statutory requirements for event that any loss is due to the State act, omission or negligence or willful misconduct of Illinois for the workmen’s compensation insurance and $100,000 for the employer’s liability insurance. Lessee shall maintain such insurance in force throughout the Term or any of this Lease Such insurance shall name Lessor and all beneficiaries, its agents, and mortgagees of lessor as additional insureds (on a primary and non-contributory basis) and shall include a specific waiver of subrogation. Lessor shall maintain a comprehensive insurance policy with respect to the Building including liability coverageemployees, loss of rentscontractors, fire and other casualty insurance for the replacement cost of the Building and such other coverages as Lessor may reasonably require. Such policy shall be with a company and contain limits and coverage as are satisfactory to Lessor. Lessee shall pay Lessee’s Percentage of the premium on such policy during the Term of the Lease. Premiums will be equitably prorated for the first and last years of the Lease. If Lessee shall conduct any activity on the Leased Premises that result in a surcharge to Lessor’s fire insurance premium, then, Lessee shall reimburse Lessor for the entire amount of such surcharge. Lessee shall pay, as Additional Rentsublessees or invitees, Lessee’s Percentage of liability insurance premiums on an estimated basis, monthly in advance as provided for in Paragraph 6 below. Lessor shall be primary and Lessee each hereby waive shall cover all losses and damages prior to any and every claim for recovery from the other tor any and all loss of or damage to their respective property which loss or damage is covered by valid and collectible insurance policies, but only to the extent of the insurance proceeds received in connection with such loss or damage under said insurance policiesinsurance.

Insurance; Waiver of Subrogation. Prior a. During the Term, Subtenant shall, with respect to the commencement Sublease Premises, obtain and maintain at all times the insurance required to be maintained by “Tenant” under the Prime Lease at Subtenant’s sole expense. Such policy shall name Sublandlord and Prime Lessor as additional insureds and shall be endorsed to provide that the insurer shall endeavor to provide at least thirty (30) days’ written notice (ten (10) days in the event of the Term hereofnon-payment of premiums) to Sublandlord prior to any material modification or cancellation. At Sublandlord’s request, and from time to time thereafter as required by Lessor, Lessee Subtenant will provide Lessor with a certificate evidence of insurance or other evidence to Sublandlord before the Sublease Commencement Date of (a) comprehensive liability insurance coverage, relative to Lxxxxx’s occupancy of the Leased Premises, with a combined single limit of $2,000,000, and (b) workmen’s compensation insurance (including employer’s liability insurance) in an amount not less than the statutory requirements for the State of Illinois for the workmen’s compensation insurance and $100,000 for the employer’s liability insurance. Lessee shall maintain such insurance in force throughout the Term of this Lease Such insurance Sublease and annually thereafter (to the extent applicable); provided, however, in no event shall name Lessor and all beneficiaries, agents, and mortgagees Subtenant be required to provide copies of lessor as additional insureds (on a primary and non-contributory basis) and shall include a specific waiver of subrogation. Lessor shall maintain a comprehensive such insurance policy with respect or any original insurance documents. In no event shall Subtenant be required to the Building including liability coverage, loss of rents, fire and other casualty provide insurance for the replacement cost any portion of the Building and such other coverages as Lessor may reasonably require. Such policy shall be with a company and contain limits and coverage as are satisfactory to Lessor. Lessee shall pay Lessee’s Percentage Prime Lease Premises, except for the Sublease Premises. b. Each party hereby waives every right or cause of action for the premium on such policy events which occur or accrue during the Term of the Lease. Premiums will be equitably prorated for the first and last years of the Lease. If Lessee shall conduct any activity on the Leased Premises that result in a surcharge to Lessor’s fire insurance premium, then, Lessee shall reimburse Lessor for the entire amount of such surcharge. Lessee shall pay, as Additional Rent, Lessee’s Percentage of insurance premiums on an estimated basis, monthly in advance as provided for in Paragraph 6 below. Lessor and Lessee each hereby waive any and every claim for recovery from the other tor any and all loss of of, or damage to their respective to, any of its property (whether or not such loss or damage is caused by the fault or negligence of the other party or anyone for whom said other party may be responsible), which loss or damage is covered (or would have been covered if such party had maintained the coverage required under the Prime Lease or this Sublease) by valid and collectible fire, extended coverage, “special form” or similar policies covering real property, personal property or business interruption insurance policies, but only to the extent of the insurance proceeds received in connection with that such loss or damage is recovered (or would have been recovered if such coverage were in effect as may be required under the Prime Lease or this Sublease) under said insurance policies. Said waivers are in addition to, and not in limitation or derogation of, any other waiver or release contained in the Prime Lease or this Sublease with respect to any loss or damage to property of the parties hereto. Each party will give its insurance carrier written notice of the terms of such mutual waiver, and the insurance policies will be properly endorsed, if necessary, to prevent the invalidation of coverage by reason of said waiver. In the event of a conflict between this paragraph and any other provision of the Prime Lease or this Sublease, the terms of this paragraph shall control.