Common use of Landlord’s Acquisition of Insurance Clause in Contracts

Landlord’s Acquisition of Insurance. If Tenant at any time during the Term fails to procure or maintain insurance required hereunder or to pay premiums therefor, Landlord shall have the right to procure the same and to pay any and all premiums thereon, and any amounts paid by Landlord in connection with the acquisition of insurance shall be immediately due and payable as additional rent, and Tenant shall pay to Landlord upon demand the full amount so paid and expended by Landlord.

Landlord’s Acquisition of Insurance. If Tenant at any time during the Term fails to procure or maintain the insurance required hereunder by this Lease or to pay the premiums therefor, Landlord shall have the right (but not the obligation) to procure the same and to pay any and all premiums thereon, and any amounts paid by Landlord in connection with the acquisition of such insurance shall be immediately due and payable as additional rent, and Tenant shall pay to Landlord upon demand the full amount so paid and expended by LandlordAdditional Rent.