Common use of Landlord’s insurance covenants Clause in Contracts

Landlord’s insurance covenants. Landlord covenants and agrees that during the Lease Term it shall obtain the following insurance: (a) All risk insurance against damage by fire or other casualty in an amount at least equal to the replacement costs of the Building as determined from time to time by Landlord or (at Landlord’s election or upon Tenant’s request) by appraisal made at the expense of Tenant by an accredited insurance appraiser approved by Landlord; (b) Commercial general liability insurance covering liability for injury to persons and damage to property which may be claimed to have occurred upon the Property or the sidewalks, ways and other real property adjoining the Property caused by Landlord with limits at least as high as the following amounts: $1,000,000 per occurrence, $2,000,000 general aggregate; (c) Workmen’s Compensation covering all Landlord’s employees and Landlord shall cause all contractors and agents working for Landlord on the Property to carry workmen’s compensation insurance covering their employees as may be required by law; (d) Rent loss insurance with a limit at least equal to one (1) year’s worth of Rent due under this Lease; and (e) Such additional insurance as Landlord’s Mortgagee shall reasonably require. Tenant shall pay the Tenant’s Proportionate Share (57.94 percent) of the cost of such insurance as an Operating Expense. At the request of Tenant, Landlord will provide to Tenant copies of certificates or the relevant portions of such policies to evidence the fact that Landlord is maintaining the insurance required by this Section 6.5.