Landlord’s Coverage Clause Samples

Landlord’s Coverage. During the Term, Landlord will provide and keep in force the following coverage: (1) Commercial general liability insurance. (2) Property insurance with special form-causes of loss coverage (formerly known as "all risk") covering the full replacement cost of the Project improvements (excepting the Leasehold Improvements to be insured by Tenant). Each of these policies shall include a provision or endorsement in which the insurer waives its right of subrogation against Tenant. (3) Insurance covering the perils described in (2) for Landlord's loss of rental income or insurable gross profits. Each of these policies shall include a provision or endorsement in which the insurer waives its right of subrogation against Tenant. (4) Boiler and machinery insurance. (5) Other insurance that Landlord elects to maintain.

Landlord’s Coverage. Landlord hereby agrees to insure the Building and all portions of the Premises not required to be insured by Tenant during the Term on an “all risks’ of physical loss or damage basic including boiler and machinery coverage, in an amount that meets any coinsurance clauses of the policy and is equal to one hundred percent (100%) of the full replacement cost of the Building (excluding the cost of foundation, excavation and footings below the lowest basement floor) subject to a reasonable deductible. Landlord shall carry rent loss insurance in an amount equal to not less than twelve (12) months of gross Building rents and earthquake/flood insurance in an amount customary for first-class office buildings in Chicago, Illinois. Landlord shall also carry Commercial General Liability Insurance with at least the same coverages and amounts as required of Tenant above. All insurance policies shall include cross liability and severability of interest endorsements. Landlord shall deliver to Tenant, certificates of such insurance in form reasonably satisfactory to Tenant, which certificates shall in each case state that such insurance may not be canceled or materially changed without at least thirty (30) days’ prior written notice to Tenant, and said insurance policies shall be endorsed so that such insurance policies may not be canceled or materially changed without at least thirty (30) days’ prior written notice to Tenant. All insurance policies shall be with an insurance company having an AM Best Rating of A- X or better or an insurance company of equivalent financial standing.

Landlord’s Coverage. Landlord shall self insure or maintain adequate public liability and property (in an amount of not less than 80% of replacement cost) and rental insurance covering the Shopping Center. Tenant shall bear its proportionate share of the cost of insurance procured by Landlord, all in accordance with Section 4.01. Landlord shall waive any property damage claims against Tenant to the extent of Landlord's insurance.

Landlord’s Coverage. Landlord shall carry policies insuring Landlord's improvements and the Building against those perils and losses that Landlord or Landlord's mortgagee reasonably deems appropriate, including, without limitation, fire, vandalism, malicious mischief, and other perils covered by extended coverage endorsements. Tenant shall have no rights in the insurance policy or policies maintained by Landlord and shall not be entitled to be a named insured.

Landlord’s Coverage. Landlord hereby agrees to insure the Building and all portions of the Premises not required to be insured by Tenant during the Term on an “all risks” of physical loss or damage basis, in an amount that meets any coinsurance clauses of the policy and is equal to one hundred per cent (100%) of the full replacement cost of the Building (including all tenant improvements which will become the property of the Landlord upon termination of Tenant’s lease but excluding the cost of foundation, excavation and footings below the lowest basement floor) subject to a reasonable deductible. Landlord shall deliver to Tenant, certificates of such insurance in form reasonably satisfactory to Tenant, which certificates shall in each case state that such insurance may not be cancelled without at least ten (10) days’ prior written notice to tenant.

Landlord’s Coverage. Landlord shall purchase and maintain in effect all-risk insurance covering loss or damage to the Building in the amount of its replacement value with such endorsements and deductibles as Landlord shall reasonably determine from time to time. Landlord shall have the right to obtain flood, earthquake, environmental and such other insurance as Landlord shall reasonably determine from time to time or shall be required by any lender holding a security interest in the Property. Landlord shall not obtain insurance for Tenant’s trade fixtures, equipment or building improvements. Landlord shall purchase and maintain commercial general liability insurance with coverage for premises operations, personal injury, products/completed operations and contractual liability with combined single limits of liability of not less than $1,000,000 for bodily injury and property damage per occurrence; $2,000,000 in the aggregate and $5,000,000 as umbrella coverage. During the Term, Landlord shall also maintain a rental income insurance policy, with loss payable to Landlord, in an amount equal to one year’s Fixed Rent plus estimated real property taxes and operating expenses. Any policy obtained by Landlord shall not be contributory, shall not provide primary insurance and shall be excess over any insurance maintained by Tenant.

Landlord’s Coverage. Landlord shall carry and maintain commercial general liability insurance insuring the Premises in such amounts and under such terms in commercially reasonable amounts consistent with similar projects in the geographic area in which the Premises are located.

Landlord’s Coverage. During the Term, Landlord will keep in force the following coverage: (1) Commercial general liability insurance insuring the use and occupancy of the Building and Common Areas, and covering personal and bodily injury, death, and damage to others’ property of not less than Three Million Dollars ($3,000,000) per occurrence and Five Million Dollars ($5,000,000) general aggregate. (2) Causes of loss – special form commercial property insurance (including standard extended coverage endorsement perils, leakage from fire protective devices and other water damage) covering the full replacement cost of the Project improvements (excepting the Leasehold Improvements to be insured by Tenant). Each of these policies shall include a provision or endorsement in which the insurer waives its right of subrogation against Tenant. (3) Boiler and machinery or equipment breakdown insurance. (4) Other insurance that Landlord elects to maintain and that is typically maintained by other institutional owners that own similar buildings in Austin, Texas.

Landlord’s Coverage. Landlord hereby agrees to insure the Building and all portions of the Premises not required to be insured by Tenant on an "all risk" of physical loss or damage basis, not subject to the application of any co-insurance clauses or requirements of the policy and equal to one hundred percent (100%) of the full replacement cost of the Building (but excluding the cost of foundation, excavation and footings below grade), subject to a reasonable deductible not to exceed One Hundred Thousand Dollars ($100.000) without Tenant's prior written approval. Landlord shall purchase and maintain comprehensive general liability insurance, including contractual liability insurance, covering claims of bodily injury, personal injury and property damage arising out of Landlord's or Landlord's Agent's operations, assumed liabilities or use and occupancy of the Building (other than the Premises) with combined single limits of at least Three Million Dollars ($3,000,000) per occurrence. Such limits or coverages shall be subject to increase or change from time to time as Tenant may reasonably request consistent with the requirements of comparable first-class office buildings in Chicago. Landlord shall cause Tenant to be named as an additional insured under all liability policies carried pursuant to this Lease, with respect to the common areas of the Building only Landlord shall furnish to Tenant prior to the date of Tenant's occupancy of any portion of the Premises and prior to the expiration date for any existing policies certificates evidencing the coverages required by this Paragraph, which certificates shall state that such insurance coverage may not be changed or cancelled without at least thirty (30) days prior written notice to Tenant, except in the event that such cancellation is for nonpayment of premiums in which event the notice to Tenant may be upon ten (10) days notice. In the event that after ten (10) days written notice to Landlord, Landlord shall at any time fail to maintain any of the insurance herein required, Tenant shall have the right, but not the obligation, to provide such insurance, and Landlord shall promptly upon notice reimburse Tenant for all reasonable sums, costs and expenses incurred by Tenant in connection with providing such insurance.