Landlord’s Insurance. Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.
Appears in 5 contracts
Samples: Lease (MSG Entertainment Spinco, Inc.), Lease (MSG Entertainment Spinco, Inc.), Lease (MSG Spinco, Inc.)
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would carry at all times during the Term of this Lease (i) invalidate or conflict commercial general liability insurance with Landlord’s insurance policies which contemplate a live entertainment use for respect to the Music HallBuildings in an amount not less than $10,000,000.00 combined single limit per occurrence, (ii) violate applicable rules, regulations and guidelines insurance against loss or damage with respect to the Complex covered by the so-called "all risk" type insurance coverage with customary exceptions in an amount equal to one hundred percent (100%) of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over replacement value of all improvements within the Center, Complex and (iii) cause loss of "rental value" insurance in an increase in amount equal to not less than the premiums Annual Fixed Rent and payments on account of Operating Expenses Allocable to the Premises and Landlord's Tax Expenses Allocable to the Premises payable by Tenant under this Lease for fire not less than a one (1) year period (with a customary deductible). Landlord may also maintain such other insurance then covering as may from time to time be required by a mortgagee holding a mortgage lien on the Buildings over that payable Buildings. Further, Landlord may also maintain such insurance against loss of annual fixed rent and additional rent and such other risks and perils as Landlord deems proper. Any and all such insurance (x) may be maintained under a blanket policy affecting other properties of Landlord and/or its affiliated business organizations, (y) may be written with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks deductibles as reasonably determined by LandlordLandlord (which such deductible is currently $25,000.00) and (z) shall be subject to reimbursement in accordance with Section 2.6. If Nothing contained herein shall be construed so as to require Landlord to maintain terrorism or environmental pollution liability insurance (it being acknowledged, however, that Landlord does in fact maintain such coverages as of the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions date of this ArticleLease); provided, Tenant however, that in the event the Landlord originally named herein shall promptly cure sell, transfer, assign, conveyor ground lease its interest in the Complex to an unaffiliated third party, such failure new owner and shall reimburse any subsequent party succeeding to the original Landlord's interest as Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant under this Lease shall not be required entitled to cease such action so long charge to Tenant at any time during the Term as part of Operating Expenses Allocable to the increased premium is Premises any costs of terrorism or environmental pollution liability insurance in excess of one hundred ten percent (110%) of the only effect costs being paid by Tenant on account of such failure and, provided further, in coverages during the event that (A) Landlord’s insurance carrier refuses last full calendar year immediately prior to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued conveyance by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsoriginal named Landlord.
Appears in 4 contracts
Samples: Lease (Irobot Corp), Agreement (Irobot Corp), Agreement (Irobot Corp)
Landlord’s Insurance. Tenant Landlord shall not cause insure the Building during the Lease Term against loss or permit damage due to fire and other casualties covered within the classification of fire and extended coverage, vandalism coverage and malicious mischief, sprinkler leakage, water damage and special extended coverage. Such coverage shall be in such amounts, with such deductibles, from such companies, and on such other terms and conditions, as Landlord may from time to time reasonably determine. Landlord shall also carry rent continuation insurance. Additionally, at the option of Landlord, such insurance coverage may include the risks of earthquakes and/or flood damage and additional hazards, a rental loss endorsement and one or suffer more loss payee endorsements in favor of the holders of any action mortgages or condition deeds of trust encumbering the interest of Landlord in the Building or the ground or underlying lessors of the Building, or any portion thereof. Notwithstanding the foregoing provisions of this Section 10.2, the coverage and amounts of insurance carried by Landlord in connection with the Building shall, at a minimum, be comparable to the coverage and amounts of insurance which are carried by reasonably prudent landlords of buildings comparable to and in the vicinity of the Building (provided that would (i) invalidate in no event shall Landlord be required to carry, although it may at its sole option carry, earthquake insurance). Landlord may carry some or conflict all of the insurance in connection with Landlord’s insurance the Project under a blanket policy or policies which contemplate a live entertainment use for the Music Hallcover other properties owned or managed by Landlord or any affiliates of Landlord, (ii) violate applicable rules, regulations and guidelines in which event Insurance Expenses shall include an equitable allocation of the Fire Departmentcost of such insurance, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If Landlord may also elect to carry some or all of the fire insurance premiums increase as in connection with the Project by a result program of co-insurance and/or self-insurance. Tenant shall, at Tenant’s failure to expense, comply with all insurance company requirements pertaining to the provisions use of this Article, the Premises. If Tenant’s conduct or use of the Premises (regardless of Landlord’s approval of said use) causes any increase in the premium for such insurance policies then Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of any such failure by increase. Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of at Tenant’s failure to expense, shall comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating all rules, orders, regulations or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence requirements of the fire insurance rates then applicable to American Insurance Association (formerly the BuildingsNational Board of Fire Underwriters) and with any similar body.
Appears in 4 contracts
Samples: Office Lease (Tracon Pharmaceuticals, Inc.), Office Lease (Tracon Pharmaceuticals, Inc.), Office Lease (Tracon Pharmaceuticals Inc)
Landlord’s Insurance. At all times during the Term of this Lease, Landlord shall purchase and keep in force “all risk” property insurance covering the Base Building Improvements, the Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict Improvements and all Alterations made to the Premises by Tenant in accordance with the terms of Paragraph 12 above, in accordance with Landlord’s customary insurance policies which contemplate a live entertainment use program for comparable properties. Tenant shall provide Landlord with such information as may be requested by Landlord or its insurers concerning the Music Hall, (ii) violate applicable rules, regulations and guidelines value of the Fire Department, Fire Insurance Rating Organization Tenant Improvements or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts Alterations. Tenant acknowledges and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided agrees that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant have no obligation to cure such failure and continue maintain property insurance covering any alterations, additions or improvements made to operate the Premises other than Alterations made in strict accordance with Paragraph 12 (such other alterations, additions or improvements being herein referred to as “Unpermitted Alterations”), and Tenant hereby agrees to indemnify and hold harmless Landlord and Landlord’s Agents from and against any and all Losses (as hereinafter defined) resulting from or arising out of the making of any such Unpermitted Alterations. Tenant shall, at its sole cost and expense, comply with any and all reasonable requirements pertaining to the Premises, the Building and the Project of any insurer necessary for the Permitted Uses maintenance of reasonable property damage and commercial general liability insurance, covering the Building and the only result of such failure is an increase in Project. Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of at Tenant’s failure to comply with cost, may maintain “Loss of Rents” insurance, insuring that the provisions of this Article and (B) Rent will be paid in a separate insurance carrier of comparable rating or which is otherwise satisfactory timely manner to Landlord is willing to provide such insurance, Tenant shall pay for a period of at least twelve (12) months if the Building or any increased cost payable portion thereof are destroyed or rendered unusable or inaccessible by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingscause insured against under this Lease.
Appears in 3 contracts
Samples: Lease Agreement (Theravance Biopharma, Inc.), Lease Agreement (Theravance Biopharma, Inc.), Lease Agreement (Threshold Pharmaceuticals Inc)
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s provide property insurance policies which contemplate a live entertainment use for coverage insuring the Music Hall, (ii) violate applicable rules, regulations and guidelines full replacement cost of the Fire DepartmentBuilding, Fire Insurance Rating Organization including all Tenant Improvements constructed pursuant to the attached Work Letter, with or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein without deductible and in amounts and against risks coverages appropriate and consistent with industry standards as reasonably determined by Landlord. If Landlord and subject to standard exclusions (such as, but not limited to, earthquake and flood exclusions) (the fire “Property Policy”), and commercial general liability insurance premiums increase with or without deductible and in amounts and coverages appropriate and consistent with industry standards as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid reasonably determined by Landlord (the “Liability Policy”). In addition, Landlord may, at its election, obtain insurance for such other risks as a result of such failure by TenantLandlord or its mortgages may from time to time deem appropriate in its sole discretion, provided that including without limitation, coverage for earthquake and flood. Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as carry insurance of any kind on Tenant’s Alterations or on Tenant’s other property, including, without limitation, Tenant’s trade fixtures, furnishings, equipment, signs and all other items of personal property, and Landlord shall not be obligated to repair or replace that property should damage occur. All proceeds of insurance maintained by Landlord upon the increased premium Building and/or Project shall be the property of Landlord, whether or not Landlord is obligated to or elects to make any repairs. At Landlord’s option, Landlord may self-insure all or any portion of the only effect of such failure andrisks for which Landlord is required or elects to provide insurance hereunder; provided, provided furtherhowever, that in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating OrganizationThe Irvine Company, or other body fixing any affiliate thereof, is no longer the “Landlord” under this Lease, such fire insurance rates, shall be conclusive evidence successor Landlord must demonstrate to Tenant a net worth of the fire insurance rates then applicable at least One Hundred Million Dollars ($100,000,000.00) to the Buildingscontinue to self-insure such risks.
Appears in 3 contracts
Samples: Sublease Agreement (Prometheus Biosciences, Inc.), Sublease Agreement (Prometheus Biosciences, Inc.), Lease (Prometheus Biosciences, Inc.)
Landlord’s Insurance. Tenant Landlord shall not cause obtain and keep in force during the Term of this Lease a policy or permit or suffer any action or condition that would policies of insurance, with commercially reasonable deductibles consistent with those maintained by landlords of similar properties in the vicinity of the Building, covering (i) invalidate loss or conflict damage to the Premises, the Building, the Tenant Improvements and objects owned by Landlord and normally covered under a “Boiler and Machinery” policy (as such term is used in the insurance industry), at least in the amount of the full replacement cost thereof (excluding foundations and other non-insurable portions), and in no event less than the total amount required by Mortgagees, against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (“all risk” or “special causes of loss,” as such terms are used in the insurance industry, including, at Landlord’s option, collapse, earthquake and flood) and other perils as required by the Mortgagees or deemed necessary by Landlord, and (ii) commercial general liability insurance with limits of liability not less than those required of Tenant hereunder protecting Landlord against claims for bodily injury and property damage arising out of Landlord’s ownership, use, and maintenance of the Building and the Common Areas. Landlord’s insurance policies which contemplate shall include an express waiver of any right of subrogation by the insurance company against Tenant. A stipulated value or agreed amount endorsement deleting any co-insurance provision of said policy or policies shall be procured with said insurance. The cost of such insurance policies shall be included in the definition of Project Costs, and shall be paid by Tenant in the manner set forth in Section 7.1. Such insurance policies shall provide for payment of loss thereunder to Landlord or, at Landlord’s election, to the Mortgagees. If the Premises are part of a live entertainment larger building, then Tenant shall pay for any increase in the property insurance of the Building if such increase is caused by Tenant’s acts, omissions, use for or occupancy of the Music HallPremises. Tenant shall obtain and keep in force during the Term, at its sole cost and expense, (i) an “all risk” or “special causes of loss” property policy in the amount of the full replacement cost covering Tenant’s Personal Property and any Alterations made by or at the request of Tenant, with Landlord insured as its interest may appear, and (ii) violate applicable rulesan “all risk” or “special causes of loss” policy of business interruption and/or loss of income insurance covering a period of one (1) years, regulations and guidelines plus such additional period of the Fire Departmenttime, Fire Insurance Rating Organization or any other authority having jurisdiction over the Centerif any, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for will permit Tenant to cure be in a position to have the same revenues as were in effect the day before a loss giving rise to a claim under such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premiumoccurs, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory loss payable to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsextent of Monthly Rent and Additional Rent only.
Appears in 2 contracts
Samples: Office Lease (Eargo, Inc.), Office Lease (Eargo, Inc.)
Landlord’s Insurance. Tenant Landlord shall not cause at all times during the Term of this Lease carry fire, casualty, and extended coverage insurance on the Building, including the structural components (foundations, floors, walls, windows, structural supports, roof, HVAC, electrical systems, and plumbing) thereof. Landlord shall be under no obligation to maintain insurance on any improvements installed by or permit for the benefit of Tenant’s use of the Premises. Landlord may elect to self-insure its obligations hereunder and/or use whatever deductibles as Landlord deems appropriate, in its sole discretion. If the Building shall be damaged, destroyed, or suffer any action rendered untenantable, in whole or in part, by or as the result or consequence of fire or other casualty during the term hereof, Landlord shall repair and restore the same to a good tenantable condition that would with reasonable dispatch. During such period of repair, the Base Rent shall xxxxx (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for entirely in case all of the Music Hall, Premises is untenantable; and (ii) violate applicable rules, regulations and guidelines proportionately if only a portion of the Fire DepartmentPremises is untenantable and Tenant is able to conduct its business from the undamaged portion of the Premises. The abatement of Base Rent shall be based upon a fraction, Fire Insurance Rating Organization the numerator of which shall be the square footage of the damaged and unusable area of the Premises and the denominator shall be the total square footage of the Premises. Said abatement shall cease at such time as the Premises shall be restored to a tenantable condition. In the event the Premises, because of such damage or destruction, cannot reasonably be and/or are not actually repaired and restored to a tenantable condition within one hundred fifty (150) days from the date of receipt of insurance proceeds for such damage or destruction, Tenant or Landlord may, at their option, terminate this Lease within sixty (60) days following the date on which the damage occurred or the above referenced one hundred fifty (150) day period, as applicable, (but prior to the date on which the repair and restoration of same is substantially underway) by giving prior written notice to the other party and thereupon Landlord and Tenant shall be released from all future liability and obligations under this Lease. If one-third (1/3) or more of the ground floor area of the Building is damaged or destroyed during the last two (2) years of the original or any other authority having jurisdiction over extended term of this Lease, Landlord shall have the Center, right to terminate this Lease by written notice to Tenant within sixty (iii60) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings days following such damage or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlorddestruction. If Landlord is required or elects to repair and restore the fire insurance premiums increase Building as a result of Tenant’s failure to comply with the provisions of this Articleherein provided, Tenant shall repair or replace its stock in trade, trade fixtures, furniture, furnishings and equipment and other improvements including floor coverings, and if Tenant has closed, Tenant shall promptly cure such failure and shall reimburse Landlord reopen for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsbusiness.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Landlord’s Insurance. Landlord shall, at all times during the Term hereof, maintain in force insurance of the type commonly referred to as an “all risk of physical loss” policy in an amount equal to the full replacement cost of the Building, the Parking Facility, and improvements to the Common Areas, and commercial general liability insurance in an amount not less than $2,000,000.00 insuring the Building and the Project against all risks and hazards as are customarily insured against, in Landlord’ s reasonable judgment, by owners of the Comparable Buildings. The umbrella/excess policy shall be in an amount of not less than $5,000,000.00. Landlord shall also maintain in force rental loss insurance in an amount not less than twelve (12) months’ Rent for the Building. Without limitation of the foregoing, Landlord shall maintain in force such additional or alternative insurance as may be required by the holder of the Mortgage or as Landlord may reasonably determine is appropriate and consistent with other owners of Comparable Buildings. The premiums and deductible amounts on the insurance policies referred to in this paragraph will be part of Operating Expenses. Except as expressly set forth in Section 13, the foregoing insurance policies and any other insurance carried by Landlord shall be for the sole benefit of Landlord and under Landlord’s sole control, and Tenant shall not cause have no right or permit or suffer claim to any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization proceeds thereof or any other authority having jurisdiction over rights thereunder. Any insurance required to be maintained by Landlord may be taken out under a blanket insurance policy or policies covering other buildings, property or insureds in addition to the CenterBuilding and Landlord. In such event, (iii) cause an increase in the premiums for fire costs of any such blanket insurance then covering policy or policies shall be reasonably allocated to the Buildings over that payable with respect to comparable first-class office buildings Project and the other properties covered by such policy or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks policies as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” included as part of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsOperating Expenses.
Appears in 2 contracts
Samples: Office Lease (YETI Holdings, Inc.), Office Lease (YETI Holdings, Inc.)
Landlord’s Insurance. Landlord shall cause Master Landlord to insure the Building (including the Building Structure and Building Systems) and the Project (but excluding, at Master Landlord’s option as provided in the Master Lease, the property required to be insured by Tenant pursuant to Section 9.3.2 below), and Landlord shall not insure all of Landlord’s personal property, during the Lease Term against loss or damage due to fire and other casualties covered Meet Me Room Sublease within the classification of fire and extended coverage, vandalism coverage and malicious mischief, water damage, earthquake damage (to the extent available at commercially reasonable costs), and all other risks normally covered under “special form” policies in the geographical area of the Building. Such coverage shall be in such amounts, from such companies, and on such other TCCs, as Master Landlord may from time to time reasonably determine (as provided in the Master Lease), provided that, in any event, such coverage shall (and Landlord shall cause or permit or suffer any action or condition that would Master Landlord to have such coverage): (i) invalidate or conflict be for full replacement (less commercially reasonable deductibles) of such covered items of the Building and the Project in compliance with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, Applicable Laws; (ii) violate applicable rules, regulations be with companies licensed in the State of California; and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in at a minimum be comparable to the premiums for fire coverage and amounts of property damage insurance then covering which are carried by reasonably prudent landlords of Comparable Buildings (except Master Landlord shall have the Buildings over that payable with respect right, but not the obligation, to comparable first-class office buildings or theatersobtain terrorism, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenantmold and/or flood insurance, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided furtherthat, in the event that Master Landlord carries the same, then the cost of the same shall be imputed into the Base Year as if Master Landlord carried the same during the entire Base Year). Additionally, Landlord shall maintain, and cause Master Landlord to maintain Commercial General Liability Insurance with companies licensed in the State of California covering the insured against Claims of bodily injury, personal injury and property damage (Aincluding loss of use thereof) arising out of Landlord’s and/or Master Landlord’s operations, and contractual liabilities, for limits of liability not less than $5,000,000.00 per occurrence and $5,000,000.00 in the aggregate). Upon inquiry by Tenant, from time to time, Landlord shall inform Tenant of all such insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable carried by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsMaster Landlord.
Appears in 2 contracts
Samples: Lease (CoreSite Realty Corp), Lease (CoreSite Realty Corp)
Landlord’s Insurance. Tenant As a component of Operating Costs, Landlord shall not cause or permit or suffer any action or condition that would purchase and keep in force during the Term, as the same may be extended hereunder, the following insurance: (i) invalidate commercial general liability insurance written on an occurrence basis containing provisions adequate to protect the Landlord from and against claims for bodily injury, including death, and personal injury and claims for property damage occurring on or conflict with Landlord’s insurance policies which contemplate a live entertainment use for in the Music Hall, Property; (ii) violate applicable rulesall risk property insurance, regulations including vandalism, sprinkler leakage and guidelines malicious mischief, upon the Property on a full replacement cost basis with no co-insurance clause, however, Landlord shall not be responsible for, and shall not be obligated to insure against, any loss of or damage to any personal property of Tenant or which Tenant may have in the Fire DepartmentBuilding or the Premises or any trade fixtures installed by or paid for by Tenant on the Premises or any additional improvements and/or alternations which Tenant may construct on the Premises; (iii) umbrella liability insurance, Fire Insurance (iv) environmental insurance, and (v) such other insurance or additional coverages and/or limits as it deems appropriate. All insurance required of Landlord pursuant to this Section shall be effected under policies issued by insurers rated A-VII or better by Best’s Rating Organization Service. The foregoing insurance and any other insurance carried by Landlord may be effected by a policy or policies of blanket insurance and, as between Landlord and Tenant, shall be for the benefit of Landlord and under Landlord’s sole control. Tenant shall have no right or claim to any proceeds thereof or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordrights thereunder. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for provide Tenant to cure such failure and continue to operate a certificate of insurance evidencing the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s above required insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of upon request from Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.
Appears in 2 contracts
Landlord’s Insurance. Tenant shall not cause or permit or suffer Landlord covenants and agrees that throughout the Term it will insure the Property and the Building (excluding any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable property with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing which Tenant is obligated to insure pursuant to Section lO(a)(i)(l) above) against damage by perils covered by the Buildings “special form” of property insurance and commercial general liability insurance in such reasonable amounts with such reasonable deductibles as required by any mortgagee or ground lessor, or, if none, as would be carried by a prudent owner of a similar building in the area. In addition, Landlord shall maintain and keep in force and effect during the Term, rental income insurance insuring Landlord against abatement or loss of Fixed Basic Rent, including items of Additional Rent, in case of fire or other casualty similarly insured against, in an amount at least equal to the Fixed Basic Rent and Additional Rent during, at the minimum, one Lease Year hereunder. Landlord may, but shall not be obligated to, take out and carry any other forms of insurance as it or the mortgagee or ground lessor (if any) of Landlord may require or reasonably determine available. All reasonable costs and expenses incurred by Landlord for insurance carried by Landlord on the Building and the Property or in connection with its ownership or operation thereof shall be included as Operating Expenses pursuant to Section 8. Notwithstanding its inclusion as an Operating Expense or any property therein in amounts and against risks as reasonably determined contribution by Landlord. If Tenant to the fire cost of insurance premiums increase by Tenant as a result provided herein, Tenant acknowledges that it has no right to receive any proceeds from any such insurance policies carried by Landlord although Landlord shall use such proceeds in the repair and reconstruction of Tenant’s failure to comply with the Building, the Property and the Premises. Tenant further acknowledges that the provisions of this ArticleSection 10 as to Tenant’s insurance are designed to insure adequate coverage as to Tenant’s property and business without regard to fault and avoid Landlord obtaining similar coverage for such loss for its negligence or that of its agents, Tenant shall promptly cure such failure and shall reimburse Landlord servants or employees which would result in double coverage for the increased fire insurance premiums paid by Landlord same perils includable as a result part of such failure Operating Expenses which are payable in part by Tenant. Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings, provided that or on any fixtures, equipment, appurtenances or improvements of Tenant under this Lease, and Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required obligated to cease such action so long as repair any damage thereto or replace the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingssame.
Appears in 2 contracts
Samples: Office Space Lease (Nabriva Therapeutics AG), Office Space Lease (Nabriva Therapeutics AG)
Landlord’s Insurance. At all times during the Term of this Lease, Landlord shall purchase and keep in force "all risk" property insurance covering the Base Building Improvements, the Tenant Improvements and all Alterations made to the Premises by Tenant in accordance with the terms of Paragraph 12 above, in accordance with Landlord's customary insurance program for comparable properties. Tenant shall not cause provide Landlord with such information as may be requested by Landlord or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for its insurers concerning the Music Hall, (ii) violate applicable rules, regulations and guidelines value of the Fire Department, Fire Insurance Rating Organization Tenant Improvements or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts Alterations. Tenant acknowledges and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided agrees that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant have no obligation to cure such failure and continue maintain property insurance covering any alterations, additions or improvements made to operate the Premises other than Alterations made in strict accordance with Paragraph 12 (such other alterations, additions or improvements being herein referred to as "Unpermitted Alterations"), and Tenant hereby agrees to indemnify and hold harmless Landlord and Landlord's Agents from and against any and all Losses (as hereinafter defined) resulting from or arising out of the making of any such Unpermitted Alterations. Tenant shall, at its sole cost and expense, comply with any and all reasonable requirements pertaining to the Premises, the Building and the Project of any insurer necessary for the Permitted Uses maintenance of reasonable property damage and commercial general liability insurance, covering the Building and the only result Project. Landlord, at Tenant's cost, may maintain "Loss of such failure is an increase Rents" insurance, insuring that the Rent will be paid in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory timely manner to Landlord is willing to provide such insurance, Tenant shall pay for a period of at least twelve (12) months if the Building or any increased cost payable portion thereof are destroyed or rendered unusable or inaccessible by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingscause insured against under this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Theravance Inc), Lease Agreement (Theravance Inc)
Landlord’s Insurance. The Landlord may obtain and maintain in full force and effect during the Term with respect to the Property insurance against such occurrences and in such amounts and on such terms and conditions and with such reasonable deductibles as would a prudent owner of a property similar to the Property. Such insurance may include: (a) all risks insurance on the Building, any other buildings forming part of the Property and any Leasehold Improvements at the Property which the Landlord desires to insure against damage; (b) boiler and machinery insurance; (c) rental income insurance; and (d) public liability insurance. Notwithstanding that the Tenant shall may be contributing to the costs of such insurance pursuant to the terms of this Lease, the Tenant will not cause have any interest in or permit or suffer any action or condition that would (i) invalidate or conflict with right to recover any proceeds under any of the Landlord’s insurance policies which contemplate a live entertainment use for nor direct the Music Hallusage thereof and the Tenant will not be relieved of any liability arising from or contributed to by its negligence or its acts or omissions, (ii) violate applicable rules, regulations and guidelines or that of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure Agents. Any policy of insurance required to comply with be maintained by the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for hereunder may provide that the increased fire insurance premiums paid amount payable if a loss occurs will be reduced by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish deductible amount which will not be greater than what is reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate in all the Premises for the Permitted Uses circumstances and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any to the Landlord, as Additional Rent, on demand the amount so deducted from the insurance proceeds paid if a loss occurs. The Landlord agrees not to permit the deductible to be increased cost payable by Landlord by reason under the policies of its purchase of such insurance from such separate insurance carrier. In any action or proceeding required to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued be maintained by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence Landlord hereunder beyond that which was in place as at the date of this Lease without the fire insurance rates then applicable to the BuildingsTenant’s prior written consent.
Appears in 2 contracts
Samples: Indemnity Agreement (Milacron Holdings Corp.), Indemnity Agreement (Milacron Holdings Corp.)
Landlord’s Insurance. Landlord shall maintain in full force and effect during the Term of this Lease, subject to reimbursement as provided in Section 6, policies of insurance which afford such coverages as are commercially reasonable and as is consistent with other properties in Landlord's portfolio. Notwithstanding the foregoing, Landlord shall obtain and keep in force during the Term of this Lease, as an item of Operating Expenses, a policy or policies in the name of Landlord, with loss payable to Landlord and to the holders of any mortgages, deeds of trust or ground leases on the Premises ("Lender(s)"), insuring loss or damage to the Building, including all improvements, fixtures (other than trade fixtures) and permanent additions, and insuring for loss of rents for a period of at least nine (9) months commencing on the date of such loss. However, all alterations, additions and improvements made to the Premises by Tenant (other than the Tenant Improvements) shall be insured by Tenant rather than by Landlord. The amount of such insurance procured by Landlord shall be equal to at least eighty percent (80%) of the full replacement cost of the Building, including all improvements and permanent additions as the same shall exist from time to time, or the amount required by Lenders. At Landlord's option, such policy or policies shall insure against all risks of direct physical loss or damage (including, without limitation, the perils of flood and earthquake), including coverage for any additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Building required to be demolished or removed by reason of the enforcement of any building, zoning, safety or land use laws as the result of a covered cause of loss. If any such insurance coverage procured by Landlord has a deductible clause, the deductible shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hallexceed commercially reasonable amounts, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire event of any casualty, the amount of such deductible shall be an item of Operating Expenses as so limited. Notwithstanding anything to the contrary contained herein, to the extent the cost of maintaining insurance then covering the Buildings over that payable with respect to comparable first-class office the Building and/or any other buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure within the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase Park is increased as a result of Tenant’s failure to comply with 's acts, omissions, use or occupancy of the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurancePremises, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of one hundred percent (100%) of, and for, such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincrease(s) as Additional Rent.
Appears in 2 contracts
Samples: Lease Agreement (Abaxis Inc), Lease Agreement (Abaxis Inc)
Landlord’s Insurance. Tenant With respect to insurance maintained by Landlord: (a) Landlord shall maintain, as the minimum coverage required of it by this Lease, fire and property damage insurance in so-called "fire and extended coverage" form insuring Landlord (and such others as Landlord may designate) against loss from physical damage to the Building with coverage of not cause or permit or suffer less than one hundred percent (100%) of the full actual replacement cost thereof and against loss of rents for a period of not less than six months. Such fire and property damage insurance, at Landlord's election but without any action or condition that would requirements on Landlord's behalf to do so, (i) invalidate or conflict with may be written in so-called "all risk" form, excluding only those perils commonly excluded from such coverage by Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, 's then property damage insurer; (ii) violate applicable rules, regulations and guidelines of may provide coverage for physical damage to the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over improvements so insured for up to the Center, entire full actual replacement cost thereof; (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect may be endorsed to comparable first-class office buildings cover loss or theatersdamage caused by any additional perils against which Landlord may elect to insure, or including earthquake and/or flood; and/or (iv) result in insurance companies may provide coverage for loss of good standing refusing rents for a period of up to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordtwelve months. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease cause such action so long insurance to cover any of Tenant's personal property, inventory, and trade fixtures, or any modifications, alterations or improvements made or constructed by Tenant to or within the Leased Premises. Landlord shall use commercially reasonable efforts to obtain such insurance at competitive rates. (b) Landlord shall maintain comprehensive general liability insurance insuring Landlord (and such others as are designated by Landlord) against liability for personal injury, bodily injury, death, and damage to property occurring in, on or about, or resulting from the increased premium use or occupancy of the Property, or any portion thereof, with combined single limit coverage of at least Three Million Dollars ($3,000,000). Landlord may carry such greater coverage as Landlord or Landlord's Lender, insurance broker, advisor or counsel may from time to time determine is reasonably necessary for the only effect adequate protection of such failure andLandlord and the Property. (c) Landlord may maintain any other insurance which in the opinion of its insurance broker, advisor or legal counsel is prudent in carry under the given circumstances, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrieris commonly carried by owners of property similarly situated and operating under similar circumstances. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.9.3
Appears in 2 contracts
Samples: Vantive Corp, Vantive Corp
Landlord’s Insurance. Tenant Throughout the Lease Term, Landlord shall not cause or permit or suffer any action or condition that would procure and maintain in full force and effect with respect to the Building: (i) invalidate a policy or conflict policies of property insurance covering the full replacement value of the Building written on a physical loss or damage basis under a "special form" or "All Risk" form policy, together with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hallany coverages or endorsements required by any lender and/or reasonably deemed prudent by Landlord to carry, such as, without limitation, sprinkler leakage, vandalism and malicious mischief coverage, and earthquake; and (ii) violate applicable rulesa policy of commercial general liability insurance with a limit of liability of not less than $10,000,000 per occurrence insuring Landlord's activities with respect to the Premises and the Building for loss, regulations and guidelines damage or liability for personal injury or death of any person or loss or damage to property occurring in, upon or about the Premises or the Building. Landlord may meet any of the Fire Departmentforegoing occurrence limits with the use of blanket or umbrella policies. Notwithstanding the foregoing provisions of this Section 10.2, Fire Insurance Rating Organization the coverage and amounts of insurance carried by Landlord in connection with the Buildings shall be materially comparable to the coverage and amounts of insurance which are carried by landlords of Comparable Buildings. Tenant shall, at Tenant's expense, comply with all insurance company requirements pertaining to the use of the Premises that (a) have been disclosed in writing to Tenant by Landlord and (b) pertain to Tenant's business operations, conduct or use of the Premises and the Building, whether imposed by Tenant's insurers, Landlord's insurers, or both. If Tenant's conduct or use of the Premises for other than the Permitted Use, Office Permitted Use or Amenities Permitted Use, as applicable, causes any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums premium for fire such insurance then covering the Buildings over that payable with respect policies, and Tenant fails to comparable first-class office buildings or theaters, or discontinue such use within fifteen (iv15) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of days after Tenant’s failure to comply with receipt of written notice from Landlord of such increase in the provisions of this Articlepremium, then Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of any such failure by increase. Tenant, provided that Landlord at Tenant's expense, shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating all rules, orders, regulations or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence requirements of the fire American Insurance Association (formerly the National Board of Fire Underwriters) and with any similar body. The minimum limits of policies of insurance rates then applicable to required of Landlord under this Lease shall in no event limit the Buildingsliability of Landlord under this Lease.
Appears in 2 contracts
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for provide the Music Hallfollowing types of insurance, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against coverages as may be determined by Landlord in its reasonable discretion provided such amounts, coverages and deductibles are reasonable and comparable to coverages maintained on comparable properties in the area: "all risk" property insurance, subject to standard exclusions covering the Building and the Project, and commercial general liability coverage. Further, Landlord may, in its sole and absolute discretion, obtain coverage for such other risks as reasonably determined by LandlordLandlord or its mortgagees may from time to time deem appropriate, including, without limitation, coverage for leasehold improvements and/or earthquake (provided, however, that the cost of earthquake insurance shall not be included as an Operating Expense unless Landlord elects or is required to carry such coverage on the entire Project). If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as carry insurance of any kind on Tenant's property, including leasehold improvements, trade fixtures, furnishings, equipment, plate glass, signs and all other items of personal property, and shall not be obligated to repair or replace that property should damage occur. All proceeds of insurance maintained by Landlord upon the increased premium Building and Project shall be the property of Landlord, whether or not Landlord is obligated to or elects to make any repairs. At Landlord's option, Landlord may self-insure all or any portion of the only effect of such failure andrisks for which Landlord is required or elects to provide insurance hereunder; provided, provided furtherhowever, that in the event that Landlord transfers its fee interest in the Project including the Premises (Aother than to an entity affiliated with, controlled, controlling or under common control with Landlord, or in which Landlord retains an interest), such transferee shall demonstrate a financial net worth of at least Fifty Million Dollars ($50,000,000.00) Landlord’s insurance carrier refuses to provide certain insurance as a result or cash reserves of Tenant’s failure to comply with Ten Million Dollars ($10,000,000.00), and in the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase absence of such financial net worth or cash reserves, such transferee shall instead maintain insurance coverage as required by this Section 10.2 from such separate third-party insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingscarrier(s).
Appears in 2 contracts
Samples: Lease (Broadcom Corp), Lease (Broadcom Corp)
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would procure at its expense (ibut with the expense to be included in Operating Costs as provided in Article 9.2) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for before the Music Hall, (ii) violate applicable rules, regulations and guidelines earlier of the Fire DepartmentCommencement Date, Fire Insurance Rating Organization the Delivery Date, the Turnover Date or such earlier access date provided for in Article 5.3 and shall thereafter maintain throughout the Lease Term a policy or policies of all risks (including rent loss coverage in amounts reasonable and customary for first-class, high-rise office building projects in metropolitan Richmond, Virginia), real and personal property insurance covering the Project, including the Tenant Improvements and any Tenant Alterations made in compliance with Article 13.2 hereof, but excluding trade fixtures, furniture, equipment, supplies, and other authority having jurisdiction over the Centerpersonal property owned, (iii) cause an increase leased, held or possessed by Tenant and contained in the premiums Building, in an amount equal to the full insurable replacement value thereof as such may increase from time to time (but such insurance may provide for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theatersa reasonable deductible), or (iv) result and in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure an amount sufficient to comply with any co-insurance requirements in such policy, and a policy of workers’ compensation insurance, if any, as required by applicable law. Prior to the provisions of this ArticleCommencement Date, Tenant Landlord shall promptly cure such failure also procure at its expense (but with the expense to be included in Operating Costs as provided in Article 9.2) and shall reimburse thereafter maintain throughout the Lease Term, commercial general liability insurance on an “occurrence” basis, insuring Landlord against liability for injury to or death of a person or persons and for damage to property arising out of any construction work being done on the increased fire Property by or on behalf of Landlord or arising out of the condition, use or occupancy of the Project or arising out of the activities of Landlord, its agents, employees or contractors in, on or about the Project, on a combined single limits basis for both personal injury and property damage with minimum limits of not less than $1,000,000 for each occurrence, subject to annual aggregate limits of not less than $2,000,000. Such insurance premiums paid by shall also extend to any liability of Landlord arising out of its indemnities in this Lease, other than the indemnity provided in Article 12.2. Prior to the earlier to occur of the Commencement Date, the Delivery Date, the Turnover Date or such earlier access date provided for in Article 5.3, Landlord shall also procure at its expense (but with the expense to be included in Operating Costs as a result provided in Article 9.2) and shall thereafter maintain throughout the Lease Term, Excess/Umbrella Liability coverage with limits not less than $10,000,000. Such coverage shall provide excess coverage above the commercial general liability and the employer’s liability policies above. Landlord may also carry such other types of such failure by Tenant, provided insurance in form and amounts that Landlord shall furnish reasonable supporting documentation therefordetermine to be appropriate from time to time. If it All such policies procured and maintained by Landlord pursuant to this Article 16.2 shall name Tenant as an additional insured or loss payee as its interests may arise and as permitted by law and shall be carried with companies having a rating pursuant to the latest edition of A.M. Best’s Insurance Guide of A- VII or higher (or an equivalent rating if such publication is not practicable discontinued). Subject to a request for Tenant confidential treatment, certain portions of this agreement have been intentionally omitted. The omitted portions subject to cure such failure and continue to operate the Premises for the Permitted Uses and the only result confidential treatment request are designated by three asterisks [***]. A complete version of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply this agreement has been separately filed with the provisions of this Article Securities and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsExchange Commission.
Appears in 2 contracts
Samples: Deed of Lease Agreement, Deed of Lease Agreement (Newmarket Corp)
Landlord’s Insurance. Landlord shall insure the Building (including the Building Structure and Building Systems) and the Project (but excluding, at Landlord’s option, the property required to be insured by Tenant pursuant to Section 9.3.2 below) during the Lease Term against loss or damage due to fire and other casualties covered within the classification of fire and extended coverage, vandalism coverage and malicious mischief, water damage, earthquake damage (to the extent available at commercially reasonable costs), and all other risks normally covered under “special form” policies in the geographical area of the Building. Such coverage shall not cause or permit or suffer be in such amounts, from such companies, and on such other TCCs, as Landlord may from time to time reasonably determine, provided that, in any action or condition that would event, such coverage shall: (i) invalidate or conflict be for full replacement (less commercially reasonable deductibles) of such covered items of the Building and the Project in compliance with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, Applicable Laws; (ii) violate applicable rules, regulations be with companies licensed in the State of California; and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in at a minimum be comparable to the premiums for fire coverage and amounts of property damage insurance then covering which are carried by reasonably prudent landlords of Main Lease Comparable Buildings (except Landlord shall have the Buildings over that payable with respect right, but not the obligation, to comparable first-class office buildings or theatersobtain terrorism, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenantmold and/or flood insurance, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided furtherthat, in the event that Landlord carries the same, then the cost of the same shall be imputed into the Base Year as if Landlord carried the same during the entire Base Year). Additionally, Landlord shall maintain Commercial General Liability Insurance with companies licensed in the State of California covering the insured against Claims of bodily injury, personal injury and property damage (Aincluding loss of use thereof) arising out of Landlord’s insurance carrier refuses operations, and contractual liabilities, for limits of liability not less than $5,000,000.00 per occurrence and $5,000,000.00 in the aggregate). Upon inquiry by Tenant, from time to provide certain insurance as a result time, Landlord shall inform Tenant of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of all such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued carried by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsLandlord.
Appears in 2 contracts
Samples: Lease (CoreSite Realty Corp), Lease (CoreSite Realty Corp)
Landlord’s Insurance. (a) During the Term, Landlord will (subject to participation by Tenant by payment of Building Share of Building Costs) maintain Insurance on, or self insure, the Building and the Land, and Landlord may maintain (subject to participation by Tenant by payment of Project Share of Project Costs) insurance on the interest of Landlord in the Project, and which Include Landlord as the named insured but excluding Tenant’s Property, with coverage and in amounts and in respect of risks which are from time to time acceptable to a prudent owner of a project similar in use, type, and location and from time to time insurable at reasonable premiums. Landlord shall request from its insurer an endorsement that all policies for such insurance shall contain a waiver by the insurer of any right of subrogation against Tenant and its officers, directors, partners and employees. Landlord agrees to make available all proceeds from such policies for the expeditious repair or replacement of the insured property. Landlord shall review the insurance in consultation with an Independent, professional insurance broker not cause less frequently than every three years and may on the recommendation of such insurance broker effect insurance subject to reasonable deductibles to be borne by the insured in the event of a claim arising. Nothing herein shall preclude Landlord effecting so-called ‘all risks” property insurance, or permit effecting blanket insurance in respect of the Project and any other properties of which Landlord is the owner or suffer tenant, or in which Landlord has an insurable interest. Landlord shall allocate (in circumstances where the insurer or the Insurer’s agent fails to do so) the cost of premiums to the Building and Land, Common Areas of the Project and any action or condition that would other of the Project Components (i) invalidate or conflict with and such other properties as may be appropriate), taking into consideration values of the subject Project Components, and any other properties so included, and the recommendation of Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.broker;
Appears in 2 contracts
Samples: Lease Extension Agreement, Lease (Tekmira Pharmaceuticals Corp)
Landlord’s Insurance. Tenant shall not cause or permit or suffer Landlord covenants and agrees that throughout the Term it will insure the Property and the Building (excluding any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable property with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing which Tenant is obligated to insure pursuant to Subsection 8(a)(i)(1) above) against damage by fire and standard extended coverage perils and public liability insurance in such reasonable amounts with such reasonable deductibles as required by any mortgagee, or, if none, as would be carried by a prudent owner of a similar building in the Buildings area. Landlord may, but shall not be obligated to, maintain and keep in force and effect during the Term, rental income insurance insuring Landlord against abatement or loss of Fixed Basic Rent, including items of Additional Rent, in case of fire or other casualty similarly insured against, in an amount at least equal to the Fixed Basic Rent and Additional Rent during, at the minimum, one lease year hereunder. Landlord may, but shall not be obligated to, take out and carry any other forms of insurance as it or the mortgagee or ground lessor (if any) of Landlord may require or reasonably determine available. All insurance carried by Landlord on the Building and the Property or in connection with its ownership or operation thereof shall be included as an Operating Expenses pursuant to Section 7. Notwithstanding its inclusion as an Operating Expense or any property therein in amounts and against risks as reasonably determined contribution by Landlord. If Tenant to the fire cost of insurance premiums increase by Tenant as a result provided herein, Tenant acknowledges that it has no right to receive any proceeds from any such insurance policies carried by Landlord although Landlord shall use such proceeds in the repair and reconstruction of Tenant’s failure to comply with the Property and the Premises. Tenant further acknowledges that the exculpatory provisions of this Lease as set forth in Section 36(b) and the provisions of this ArticleSection 8 as to Tenant’s insurance are designed to insure adequate coverage as to Tenant’s property and business without regard to fault and avoid Landlord obtaining similar coverage for such loss for its negligence or that of its agents, Tenant shall promptly cure such failure and shall reimburse Landlord servants or employees which would result in double coverage for the increased fire insurance premiums paid by Landlord same perils includable as a result part of such failure Operating Expenses which are payable in part by Tenant. Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings, provided that or on any fixtures, equipment, appurtenances or improvements of Tenant under this Lease, and Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required obligated to cease such action so long as repair any damage thereto or replace the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingssame.
Appears in 2 contracts
Samples: Real Estate Purchase Agreement, Real Estate Purchase Agreement
Landlord’s Insurance. Tenant Landlord shall secure and maintain (with the cost of same to be included in Operating Expenses): (a)All-risks property insurance on the Project (excluding leasehold improvements) and on all Building Standard leasehold improvements. Said insurance shall be issued by and binding upon a solvent insurance company authorized to do business in California, in an amount not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines less than 90% of the Fire Departmentreplacement cost of the Building (but excluding the cost of excavation, Fire Insurance Rating Organization foundations, underground utilities and footings, as well as any equipment, fixtures, personal property of Tenant or any other authority having jurisdiction over Alterations), subject to reasonable deductions. Such insurance shall be obtained at the Center, expense of Landlord (iii) cause an increase but with the same to be included in the premiums Operating Expenses) and payments for fire insurance then covering the Buildings over that payable with respect losses thereunder shall be made solely to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance annual premiums increase as a result to be paid by Landlord shall exceed the standard rates because of Tenant’s failure 's operations or contents within the Leased Premises or because the improvements to comply with the provisions of this ArticleLeased Premises are above Building Standard, Tenant shall promptly cure such failure pay the excess amount of the premiums upon request by Landlord. (b) Commercial general liability insurance in a commercially reasonable policy amount. Such insurance shall be in addition to, and shall reimburse Landlord for the increased fire not in lieu of, insurance premiums paid by Landlord as a result of such failure required to be maintained by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant Neither Landlord's obligation to cure carry such failure and continue to operate insurance nor the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase carrying of such insurance shall be deemed to be an indemnity by Landlord with respect to any claim, liability, loss, cost or expense due, in whole or in part, to Tenant's negligent acts or omissions or willful misconduct. Without obligation to do so, Landlord may, in its sole discretion from such separate time to time, carry insurance carrierin amounts greater and/or for coverage additional to the coverage and amounts set forth above. In any action or proceeding to which Landlord and Tenant are partiesmay also, a schedule or at its election, satisfy the requirements of this Section 6.4 via the procurement of “make upblanket policies” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organizationinsurance, or insuring other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.parties and/or other locations. 6.5
Appears in 1 contract
Samples: Office Space Lease Agreement
Landlord’s Insurance. Tenant shall not cause or permit or suffer At all times during the Lease Term, including any action or condition that would extensions thereof, Landlord will carry and maintain (i) invalidate or conflict “all risk” fire and extended coverage insurance covering the Building, Project, equipment, common area furnishings, and Premises (except to the extent an obligation of Tenant to insure hereunder) to the extent of the replacement cost thereof without the obligation for co-insurance; (ii) bodily injury and property damage general liability insurance in a combined single limit of not less than $2,000,000 with umbrella liability coverage of not less than $3,000,000; (iii) boiler and machinery insurance in a reasonable amount; (iv) rent loss in an amount equal to 12 months of rent payable by the tenants of the Building and Project during the applicable policy year; and (v) such other insurance as Landlord reasonably determines from time to time (provided, however, that if any other insurance is carried after the Base Year that was not carried during the entirety of the Base Year , the approximate expense that would have been incurred to carry such insurance during the entirety of the Base Year shall be added to the actual Operating Expenses applicable to the Base Year as if such expense had been paid). Landlord’s insurance policies which contemplate shall be with responsible insurers with a live entertainment use financial rating comparable to or better than that of Tenant's liability insurer, and shall provide coverage for Landlord's premises and operations, independent contractors, and contractual liability assumed in Section 10.7 of this Lease. Landlord shall cause its commercial general liability insurer to name Xxxxxx as an additional insured under such insurance to the Music Hallextent of Landlord's insurable contractual liability assumed in Section 10.7 hereof. The insurance policy shall contain a severability of interests provision, (ii) violate applicable rulesa provision that the insurance provided to Landlord as additional insured shall be primary to and not contributory with insurance maintained by Landlord, regulations and guidelines a provision that an act or omission of one of the Fire Department, Fire Insurance Rating Organization insureds or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over additional insureds that payable with respect to comparable first-class office buildings would void or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant otherwise reduce coverage shall not be required to cease such action so long reduce or void the coverage as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsother named and additional insureds.
Appears in 1 contract
Samples: Office Lease (Pc Mall Inc)
Landlord’s Insurance. Landlord shall purchase and keep in force "all risk" property insurance covering the Building and the Project. Tenant shall not cause or permit or suffer shall, at its sole cost and expense, comply with any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use and all reasonable requirements pertaining to the Premises, the Building and the Project of any insurer necessary for the Music Hallmaintenance of reasonable fire and commercial general liability insurance, covering the Building and the Project. Landlord, at Tenant's cost, may maintain "Loss of Rents" insurance, insuring that the Rent will be paid in a timely manner to Landlord for a period of at least twelve (ii12) violate applicable rulesmonths if the Premises, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization Building or the Project or any other authority having jurisdiction over portion thereof are destroyed or rendered unusable or inaccessible by any cause insured against under this Lease. Notwithstanding the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided furtherforegoing, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise Tenant provides satisfactory evidence to Landlord is willing that Tenant maintains insurance reasonably acceptable to provide Landlord insuring that the Rent will be paid in a timely manner to Landlord for a period of at least twelve (12) months if the Premises, the Building or the Project or any portion thereof are destroyed or rendered unusable or inaccessible by any cause insured against under this Lease, Landlord will not charge Tenant for the cost of maintaining "Loss of Rents" insurance; provided, however, that if for any reason Tenant fails to maintain such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates be responsible for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence payment of the fire Rent that would have been paid to Landlord had Tenant maintained insurance rates then applicable to the Buildingsfor such lost Rent.
Appears in 1 contract
Samples: Lease Agreement (Corixa Corp)
Landlord’s Insurance. Landlord shall maintain in full force and effect during the Term of this Lease, subject to reimbursement as provided in Section 7, policies of insurance which afford such coverages as are commercially reasonable and as is consistent with other properties in Landlord's portfolio. Notwithstanding the foregoing, Landlord shall obtain and keep in force during the Term of this Lease, as an item of Operating Expenses, a policy or policies in the name of Landlord, with loss payable to Landlord and to the holders of any mortgages, deeds of trust or ground leases on the Premises ("Lender(s)"), insuring loss or damage to the Building, including all improvements, fixtures (other than trade fixtures) and permanent additions. However, all alterations, additions and improvements made to the Premises by Tenant (other than the Tenant Improvements) and including, but not limited to, Tenant's Initial Alterations, shall be insured by Tenant rather than by Landlord. The amount of such insurance procured by Landlord shall be equal to at least eighty percent (80%) of the full replacement cost of the Building, including all improvements and permanent additions as the same shall exist from time to time, or the amount required by Lenders. At Landlord's option, such policy or policies shall insure against all risks of direct physical loss or damage (including, without limitation, the perils of flood and earthquake), including coverage for any additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Building required to be demolished or removed by reason of the enforcement of any building, zoning, safety or land use laws as the result of a covered cause of loss. If any such insurance coverage procured by Landlord has a deductible clause, the deductible shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hallexceed commercially reasonable amounts, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire event of any casualty, the amount of such deductible shall be an item of Operating Expenses as so limited. Notwithstanding anything to the contrary contained herein, to the extent the cost of maintaining insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase Premises is increased as a result of Tenant’s failure to comply with 's acts, omissions, use or occupancy of the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurancePremises, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of one hundred percent (100%) of, and for, such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincrease(s) as Additional Rent.
Appears in 1 contract
Samples: Lease Agreement (Webvan Group Inc)
Landlord’s Insurance. Tenant Landlord shall not cause insure the Project during the Lease Term against loss or permit damage due to fire and other casualties covered within the classification of fire and extended coverage, vandalism coverage and malicious mischief, sprinkler leakage, water damage and special extended coverage. Such coverage shall be in such amounts, from such companies, and on such other terms and conditions, as Landlord may from time to time reasonably determine. Landlord shall also carry rent continuation insurance. Additionally, at the option of Landlord, such insurance coverage may include the risks of earthquakes and/or flood damage and additional hazards, a rental loss endorsement and one or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines more loss payee endorsements in favor of the Fire Departmentholders of any mortgages or deeds of trust encumbering the interest of Landlord in the Project or the ground or underlying lessors of the Project, Fire Insurance Rating Organization or any other authority having jurisdiction over portion thereof. Notwithstanding the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the foregoing provisions of this ArticleSection 10.2, Tenant the coverage and amounts of insurance carried by Landlord in connection with the Project shall promptly cure be materially comparable to the coverage and amounts of insurance which are carried by landlords of Comparable Buildings (provided that in no event shall Landlord be required to carry earthquake insurance). Landlord shall carry commercial general liability insurance with a combined single limit coverage of at least $3,000,000.00 per occurrence. All such failure and insurance shall reimburse Landlord be obtained from insurers which meet the requirements of Section 10.6 below. This policy shall include coverage for liabilities assumed under this Lease as an insured contract. Duly executed certificates showing the material terms for the increased fire same, shall be deposited with Tenant on the date Tenant first occupies the Premises and upon renewals of such policies upon written request. Any failure of Landlord to obtain and maintain the insurance premiums paid policies and coverages required hereunder or failure by Landlord to meet any of the insurance requirements of this Lease beyond applicable notice and cure periods shall entitle Tenant to pursue, exercise or obtain any of the remedies provided for in Section 19.5 below, and Landlord shall be solely responsible for any loss suffered by Tenant as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation thereforfailure. If it is not practicable Tenant’s conduct or use of the Premises causes any increase in the premium for such insurance policies then Tenant to cure shall reimburse Landlord for any such failure and continue to operate increase; provided, however, Landlord hereby covenants that the use of the Premises for general office use shall not increase the Permitted Uses and the only result of such failure is an increase in premiums for Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingspolicies.
Appears in 1 contract
Samples: Office Lease (Unity Software Inc.)
Landlord’s Insurance. Landlord shall secure and maintain policies of insurance for the Project (including the Leased Premises) covering loss of or damage to the Project, including the Tenant Improvements, but excluding all subsequent alterations, additions and improvements to the Leased Premises, with loss payable to Landlord and to the holders of any deeds of trust, mortgages or ground leases on the Project. Landlord shall not cause be obligated to obtain insurance for Tenant's trade fixtures, equipment, furnishings, machinery or permit or suffer any action or condition that would (iother property. Such policies shall provide protection against fire and extended coverage perils and such additional perils as Landlord deems suitable, and with such deductible(s) invalidate or conflict with Landlord’s as Landlord shall deem reasonably appropriate. Landlord shall further secure and maintain commercial general liability insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings the Project in such amount as Landlord shall determine, such insurance to be in addition to, and not in lieu of, the liability insurance required to be maintained by Tenant. In addition, Landlord shall secure and maintain rental income insurance. Notwithstanding any other provision in this Lease to the contrary, in the event of any loss or theatersclaim for which Landlord has received insurance proceeds from such rental income insurance (or would have been entitled to receive insurance proceeds had Landlord obtained and maintained the insurance required by this SECTION 7.01), Tenant's Rent obligations under this Lease shall xxxxx with respect to the extent of such insurance proceeds received (or (iv) result in Landlord would have been entitled to receive had Landlord obtained and maintained the insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined required by Landlordthis SECTION 7.01). If the fire annual cost to Landlord for any such insurance premiums increase as a result exceeds the standard rates because of the nature of Tenant’s failure to comply with the provisions of this Article's operations, Tenant shall promptly cure shall, upon receipt of appropriate invoices and supporting documentation detailing the reasons for such failure and shall increased costs, reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenantincreases in cost, provided that Landlord which amounts shall furnish reasonable supporting documentation thereforbe deemed Additional Rent hereunder. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long named as the increased premium is the only effect an additional insured on any policy of such failure and, provided further, in the event that (A) insurance maintained by Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.
Appears in 1 contract
Samples: Shopnow Com Inc
Landlord’s Insurance. Tenant Landlord covenants and agrees that throughout the Term it will insure the Building under then available standard forms of “all-risk” insurance policies, in an amount equal to One Hundred (100%) percent of the replacement value thereof (including an “agreed amount” endorsement). Landlord covenants and agrees to maintain public liability insurance in such reasonable amounts with such reasonable deductibles as required by any Mortgagee or Superior Landlord (if any), or if none, as would be carried by a prudent owner of a similar building in the area. In addition, Landlord shall maintain and keep in force and effect during the Term, rental income insurance insuring Landlord against abatement or loss of Basic Rent and Additional Rent, during at the minimum, one calendar year hereunder but not more than Three (3) years. Landlord may, but shall not cause be obligated to, take out and carry any other forms of insurance as it or permit the Mortgagee or suffer Superior Landlord (if any) of Landlord may require or reasonably determine available customarily carried by owners and operators of similar buildings, including but not limited to losses relating to or arising out of an act of terrorism. All insurance carried by Landlord on the Building or Common Areas shall be included as an Operating Expense. Notwithstanding its inclusion as an Operating Expense or any action or condition contribution by Tenant to the cost of insurance premiums by Tenant as provided herein, Tenant acknowledges that would (i) invalidate or conflict with Landlord’s it has no right to receive any proceeds from any such insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined carried by Landlord. If Tenant further acknowledges that the fire insurance premiums increase exculpatory provision of this Lease and the provisions as a result of to Tenant’s failure insurance are designed to comply with the provisions insure adequate coverage as to property and business without regard to Landlord’s fault and to avoid Landlord obtaining similar coverage for said loss for its negligence or that of this Articleits agents, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord servants or employees which could result in additional costs includable as a result part of such failure Operating Expenses which are payable by Tenant. Landlord will not carry insurance of any kind on Tenant’s personal property, provided that or on any fixtures or equipment of Tenant under this Lease and Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required obligated to cease such action so repair any damage thereto or replace same. So long as same is available without an additional premium, Landlord shall cause its “all risk” policy to contain a waiver of subrogation to the increased premium extent same relates to a casualty loss through fire or similar losses. This waiver of subrogation is not intended to relate to operational losses such as forklift damage to the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence walls of the fire insurance rates then applicable Demised Premises (said example being by way of explanation, not limitation) and shall not obligate Landlord to the Buildingssubmit claims of that nature to its insurer.
Appears in 1 contract
Samples: Lease (API Nanotronics Corp.)
Landlord’s Insurance. Landlord shall obtain and carry, throughout the terms of this Lease, fire, lightning, and extended coverage (“all risk”) insurance and such additional insurance coverage as may be required by Landlord’s mortgagee (including “loss of rents” insurance) on the building, of which the Demised Premises is a part, for the full replacement value thereof or such value as is required by Landlord’s mortgagee, whichever is greater, against such loss. Tenant shall not cause or permit or suffer any action or condition that would reimburse Landlord, as additional rental hereunder, for Tenant’s proportionate share (idetermined in the same manner as Tenant’s proportionate share of taxes and assessments herein above) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Departmentcosts of the insurance premium therefore within ten (10) days from the date Landlord submits to Tenant a statement setting forth the amount due Landlord under the provisions of this paragraph. Tenant agrees that it will not at any time, Fire Insurance Rating Organization during the term of this Lease, carry any stock of goods or do anything in or about the demised Premises, which will in any other authority having jurisdiction over way tend to increase the Centerinsurance rates upon the building of which the Demised Premises are a part. In addition to Tenant’s proportionate share of the costs of insurance premiums as described herein, (iii) cause an Tenant agrees to pay to Landlord forthwith upon demand the amount of any increase in the premiums for insurance against loss by fire that may be charged during the term of this Lease on the amount of insurance then covering to be carried by Landlord on the Buildings over that payable with respect building of which the Demised Premises are a part resulting from the foregoing or from Tenant doing any act in or about said Demised Premises which does so increase the insurance rates, whether or not Landlord shall have consented to comparable first-class office buildings or theaters, or (iv) result in insurance companies such act on the part of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by LandlordTenant. If Tenant installs upon the fire insurance premiums increase as a result Demised Premises any electrical equipment which constitutes an overload on the electrical lines of Tenant’s failure the Demised Premises, Tenant shall at its own expense make whatever changes are necessary to comply with the provisions requirements of this Articlethe insurance underwriters, nothing herein contained shall be deemed to constitute Landlord’s consent to such overloading. Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result pay 1 /12 of Tenant’s failure to comply proportionate share of the estimated annual building insurance premium in advance each month along with the provisions of this Article minimum rental payment. “It is agreed that Landlord carries insurance for its own protection; Tenant is not a coinsured under Landlord’s own insurance nor a beneficiary thereof.” (See Lease Rider “A” Building Expenses attached hereto and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincorporated herein.)
Appears in 1 contract
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would carry at all times from and after the commencement of construction of the Landlord’s Work and continuing throughout the Term of this Lease, (i) invalidate or conflict commercial general liability insurance with Landlord’s insurance policies which contemplate a live entertainment use for respect to the Music HallBuilding in an amount not less than $10,000,000.00 combined single limit per occurrence, and (ii) violate applicable rulesinsurance against loss or damage to the Building covered by the so-called “all risk” type insurance coverage with customary exceptions, regulations and guidelines in an amount equal to one hundred percent (100%) of the Fire Departmentfull replacement cost thereof (which such property insurance shall include so-called “Builder’s Risk” coverage). Further, Fire Insurance Rating Organization Landlord may also maintain such insurance against loss of Annual Fixed Rent and Additional Rent for up to twelve (12) months (or any such longer period of time as Landlord’s mortgagee may require) and such other authority having jurisdiction over the Centerrisks and perils as Landlord deems proper. Any and all such insurance (x) may be maintained under a blanket policy affecting other properties of Landlord and/or its affiliated business organizations, (iiiy) cause an increase in the premiums for fire insurance then covering the Buildings over that payable may be written with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks deductibles as reasonably determined by Landlord. If Landlord (which such deductible is currently $25,000.00 and which Landlord hereby covenants and agrees shall not exceed $75,000.00 during the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions Original Term of this ArticleLease) and (z) shall be subject to escalation reimbursement in accordance with Section 2.6. Nothing contained herein shall be construed so as to require Landlord to maintain terrorism or environmental pollution liability insurance or insurance covering mold in the Building (it being acknowledged, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenanthowever, provided that Landlord does in fact maintain such coverages as of the date of this Lease); provided, however, that in the event the Landlord originally named herein shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant sell, transfer, assign, convey or ground lease its interest in the Property to cure an unaffiliated third party, such failure new owner and continue any subsequent party succeeding to operate the Premises for the Permitted Uses and the only result of such failure is an increase in original Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant interest as Landlord under this Lease shall not be required entitled to cease such action so long charge to Tenant at any time during the Term as part of Operating Expenses Allocable to the increased premium is Premises any costs of terrorism or environmental pollution liability insurance in excess of one hundred ten percent (110%) of the only effect costs being paid by Tenant on account of such failure and, provided further, in coverages during the last full calendar year immediately prior to the conveyance by the original named Landlord. In the event that (ALandlord does not carry terrorism and/or environmental pollution liability insurance during calendar year 2009 but subsequently does maintain the coverage(s) Landlord’s insurance carrier refuses that was not so maintained in 2009 during any other Lease Year during the Term, Base Operating Expenses shall be equitably adjusted by adding an amount equal to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost amount that would reasonably have been payable by Landlord by reason of its purchase of for such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingscoverage(s) in 2009.
Appears in 1 contract
Samples: Phase Forward Inc
Landlord’s Insurance. Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by TenantXxxxxx, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.
Appears in 1 contract
Samples: Lease (MSGE Spinco, Inc.)
Landlord’s Insurance. Tenant Landlord shall not cause maintain in full force and effect during the Term of this Lease, subject to reimbursement as provided in Section 6, policies of insurance which afford such coverages as are commercially reasonable and as is consistent with other properties in Landlord’s or permit Landlord’s affiliates’ portfolio. Notwithstanding the foregoing, Landlord shall obtain and keep in force during the Term of this Lease, as an item of Operating Expenses, a policy or suffer policies in the name of Landlord, with loss payable to Landlord and to the holders of any action mortgages, deeds of trust or condition that would ground leases on the Premises (“Lender(s)”), (i) invalidate on an “all risk” or conflict “special form” basis, insuring loss or damage to the Building, including all improvements, fixtures (other than trade fixtures) and permanent additions (ii) insuring loss or damage to the Tenant Improvements (but not any of Tenant’s Personal Property (as defined in Exhibit B) or the Nitrogen Tank) caused by earthquake. Except as set forth above with respect to earthquake coverage for the Tenant Improvements, all alterations, additions and improvements made to the Premises by Tenant (including the Tenant Improvements and the Nitrogen Tank) shall be insured by Tenant rather than by Landlord. Subject to the foregoing, the amount of the “all risk” or “special form” insurance procured by Landlord shall be equal to at least ninety percent (90%) of the full replacement cost of the Building (excluding the cost of excavation and installation of footings), including all improvements and permanent additions as the same shall exist from time to time, or the amount required by Lenders. At Landlord’s option, Landlord shall insure against all risks of direct physical loss or damage to the Building (including, without limitation, the perils of flood and earthquake), including coverage for any additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Building required to be demolished or removed by reason of the enforcement of any building, zoning, safety or land use laws as the result of a covered cause of loss. If any such insurance coverage procured by Landlord has a deductible clause, the deductible shall not exceed reasonable amounts and as is then consistent with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hallor its affiliates’ portfolio, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire event of any casualty, the amount of such deductible shall be an item of Operating Expenses as so limited. Notwithstanding anything to the contrary contained herein, to the extent the cost of maintaining insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase Building is increased as a result of Tenant’s failure to comply with acts, omissions, alterations, improvements (including, without limitation, the provisions Tenant Improvements), use or occupancy of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurancePremises, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of one hundred percent (100%) of, and for, such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincrease(s) as Additional Rent.
Appears in 1 contract
Samples: Lease Agreement (GigOptix, Inc.)
Landlord’s Insurance. At all times from and after the Commencement Date, Landlord shall, as an Operating Expense, maintain in effect a policy or policies of insurance providing protection for the following liabilities and/or risks: (a) public liability for bodily injury and property damage arising from Landlord’s ownership and/or operation of the Project with coverage limits at least equal to those Tenant is required to maintain in accordance with Section 7.1, (b) any peril, in Landlord’s reasonable discretion, insurable under an “all risks” policy covering the Buildings of which the Demised Premises are a part and the tenant improvements, exclusive of any items insured by Tenant pursuant to Section 7.1, in an amount equal to each Building’s and the Improvements’ full replacement cost (exclusive of the cost of excavations, foundation and footings) and (c) rent loss insurance in an amount equal to not more than twelve (12) months’ of the Building’s estimated gross receipts. Landlord’s obligation to carry the “all risks” insurance provided for in this Section 7.2 may be satisfied by inclusion of said building within the coverage of any blanket policy or policies of insurance carried and maintained by Landlord, provided that the coverage afforded will not be reduced or diminished by reason of the use of such blanket policies of insurance. Tenant shall not cause neither use the Premises for other than general office purposes nor permit the Premises to be used or permit acts to be done therein to the extent such use or suffer any action or condition that acts would (i) invalidate or conflict increase the premium of any insurance carried by Landlord with Landlord’s insurance policies which contemplate a live entertainment use for respect to the Music Hall, Project; (ii) violate applicable rules, regulations and guidelines cause a cancellation of the Fire Department, Fire Insurance Rating Organization or be in conflict with any other authority having jurisdiction over the Center, such insurance policies; or (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in a refusal by insurance companies of good standing refusing to insure the Buildings or any property therein Project in amounts and against risks as reasonably determined by satisfactory to Landlord. If the fire insurance premiums increase as a result of Tenant shall, at Tenant’s failure expense, comply as to comply the Premises with all insurance company requirements pertaining to the provisions use of this Article, the Premises. If Tenant’s conduct or use of the Premises for other than general office purposes causes any increase in the premium for such insurance policies then Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of any such failure by increase. Tenant, at Tenant’s expense, shall comply with all rules, orders, regulations or requirements of the American Insurance Association (formerly the National Board of Fire Underwriters) and with any similar body to the extent applicable to Tenant’s use of the Premises. As provided in Section 6.3 above, if Landlord obtains any insurance coverage or expanded scope of coverage that Landlord shall furnish reasonable supporting documentation therefor. If it is was not practicable for Tenant to cure such failure and continue to operate included in the Premises insurance policies maintained during the Base Year, the Operating Expenses for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, Base Year shall be conclusive evidence of the fire insurance rates then applicable adjusted to an amount equal to the BuildingsOperating Expenses that would have been incurred had such coverage been maintained during the Base Year.
Appears in 1 contract
Landlord’s Insurance. Landlord shall maintain in full force and effect during the Term of this Lease, subject to reimbursement as provided in Section 6, policies of insurance which afford such coverages as are commercially reasonable and as is consistent with other properties in Landlord's portfolio. Landlord shall also procure such additional insurance coverage as Tenant shall not cause reasonably request Landlord to obtain; provided, however, notwithstanding anything to the contrary contained herein, Tenant shall pay, and shall be solely responsible for, any and all costs, premiums and expenses of any such additional insurance, as Additional Rent, and Tenant shall pay same to Landlord within ten (10) days of Landlord's demand therefor. Landlord shall obtain and keep in force during the Term of this Lease, as an item of Operating Expenses, a policy or permit policies in the name of Landlord, with loss payable to Landlord and to the holders of any mortgages, deeds of trust or suffer ground leases on the Premises ("Lender(s)"), insuring loss or damage to the Building, including all improvements, fixtures (other than trade fixtures) and permanent additions. However, all alterations, additions and improvements made to the Premises by Tenant (other than the Tenant Improvements) shall be insured by Tenant rather than by Landlord. The amount of such insurance procured by Landlord shall be equal to one hundred percent (100%) of the full replacement cost of the Building (excluding the cost of excavation and installation of footings), including all improvements and permanent additions as the same shall exist from time to time, or the amount required by Lenders. At Landlord's option, such policy or policies shall insure against all risks of direct physical loss or damage (including, without limitation, the perils of earthquake), including coverage for any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use additional costs resulting from debris removal and reasonable amounts of coverage for the Music Hall, (ii) violate applicable rules, regulations and guidelines enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Fire DepartmentBuilding required to be demolished or removed by reason of the enforcement of any building, Fire Insurance Rating Organization zoning, safety or land use laws as the result of a covered cause of loss. If any other authority having jurisdiction over such insurance coverage procured by Landlord has a deductible clause, the Centerdeductible shall not exceed commercially reasonable amounts, (iii) cause an increase and in the premiums for fire event of any casualty, the amount of such deductible shall be an item of Operating Expenses as so limited. Notwithstanding anything to the contrary contained herein, to the extent the cost of maintaining insurance then covering the Buildings over that payable with respect to comparable first-class office the Building and/or any other buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure within the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase Park is increased as a result of Tenant’s failure to comply with 's acts, omissions, alterations, improvements (including without limitation, the provisions Tenant Improvements), use or occupancy of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurancePremises, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of one hundred percent (100%) of, and for, such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincrease(s) as Additional Rent.
Appears in 1 contract
Landlord’s Insurance. Landlord shall from and after the delivery date maintain In effect (a) public liability for bodily injury and property damage arising from Landlord's ownership and/or operation of the Shopping Center with coverage limits at least equal to those Tenant is required to maintain in accordance with Section 10.3(a) above, and (b) a policy or policies of Insurance covering the building of which the premises are a part (excluding Tenant's trade fixtures, merchandise, inventory or other items used in the trade or business of building occupants and, at Landlord's option, Tenant's leasehold Improvements Including Tenant's Work), in an amount not less than eighty percent (80%) of full replacement cost (exclusive of the cost of excavations, foundations and footings) from time to time during the term of this Lease or the amount of such insurance Landlord's lender may require Landlord to maintain, whichever is the greater, providing protection against any peril generally included in the classification "Fire and Extended Coverage." At Landlord's option, such insurance may Include insurance against sprinkler damage, vandalism, malicious mischief, earthquake sprinkler leakage and loss of rental Income. If required or recommended by Landlord's mortgagee or insurance analyst, Landlord shall have the right but not the obligation to procure and maintain coverage for other perils, such as earthquake or flood. Tenant shall not cause have no interest in such insurance and/or the proceeds thereof. Landlord's obligation to carry the insurance provided for herein may be brought within the coverage of any so-called blanket policy or permit or suffer any action or condition policies of Insurance carried and maintained by Landlord, provided, however, that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums event Tenant obtains a policy of insurance containing the coverage called for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or by this subparagraph (ivb) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid which is approved by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium's lender, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as reimburse Landlord for the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrieras otherwise required by Section 8.1 of this Lease. In any action or proceeding Tenant shall not be required to which reimburse Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence cost of the fire insurance rates then applicable to the BuildingsEarthquake insurance.
Appears in 1 contract
Samples: Sports Arenas Inc
Landlord’s Insurance. Tenant With respect to insurance maintained by Landlord: (a) Landlord shall maintain, as the minimum coverage required of it by this Lease, fire and property damage insurance in so-called “fire and extended coverage” form insuring Landlord (and such others as Landlord may designate) against loss from physical damage to the Building with coverage of not cause or permit or suffer less than one hundred percent (100%) of the full actual replacement cost thereof and against loss of rents for a period of not less than six months. Such fire and property damage insurance, at Landlord’s election but without any action or condition that would requirements on Landlord’s behalf to do so, (i) invalidate or conflict with may be written in so-called “all risk” form, excluding only those perils commonly excluded from such coverage by Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, then property damage insurer; (ii) violate applicable rules, regulations and guidelines of may provide coverage for physical damage to the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over improvements so insured for up to the Center, entire full actual replacement cost thereof; (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect may be endorsed to comparable first-class office buildings cover loss or theatersdamage caused by any additional perils against which Landlord may elect to insure, or including earthquake and/or flood; and/or (iv) result in insurance companies may provide coverage for loss of good standing refusing rents for a period of up to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordtwelve months. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease cause such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result cover any of Tenant’s failure personal property, inventory, and trade fixtures, or any modifications, alterations or improvements made or constructed by Tenant to comply or within the Leased Premises. Landlord shall use commercially reasonable efforts to obtain such insurance at competitive rates. 16 (b) Landlord shall maintain comprehensive general liability insurance insuring Landlord (and such others as are designated by Landlord) against liability for personal injury, bodily injury, death, and damage to property occurring in, on or about, or resulting from the use or occupancy of the Property, or any portion thereof, with combined single limit coverage of at least Three Million Dollars ($3,000,000). Landlord may carry such greater coverage as Landlord or Landlord’s Lender, insurance broker, advisor or counsel may from time to time determine is reasonably necessary for the provisions adequate protection of this Article Landlord and the Property. (Bc) a separate Landlord may maintain any other insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason in the opinion of its purchase of insurance broker, advisor or legal counsel is prudent in carry under the given circumstances, provided such insurance from such separate insurance carrieris commonly carried by owners of property similarly situated and operating under similar circumstances. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.9.3
Appears in 1 contract
Samples: Scientific Learning Corp
Landlord’s Insurance. At all times during the Term of this Lease, Landlord shall purchase and keep in force "all risk" property insurance covering the Base Building Improvements, the Tenant Improvements and all Alterations made to the Premises by Tenant in accordance with the terms of Paragraph 12 above, in accordance with Landlord's customary insurance program for comparable properties. Tenant shall not cause provide Landlord with such information as may be requested by Landlord or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for its insurers concerning the Music Hall, (ii) violate applicable rules, regulations and guidelines value of the Fire Department, Fire Insurance Rating Organization Tenant Improvements or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts Alterations. Tenant acknowledges and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided agrees that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant have no obligation to cure such failure and continue maintain property insurance covering any alterations, additions or improvements made to operate the Premises other than Alterations made in strict accordance with Paragraph 12 (such other alterations, additions or improvements being herein referred to as "UNPERMITTED ALTERATIONS"), and Tenant hereby agrees to indemnify and hold harmless Landlord and Landlord's Agents from and against any and all Losses (as hereinafter defined) resulting from or arising out of the making of any such Unpermitted Alterations. Tenant shall, at its sole cost and expense, comply with any and all reasonable requirements pertaining to the Premises, the Building and the Project of any insurer necessary for the Permitted Uses maintenance of reasonable property damage and commercial general liability insurance, covering the Building and the only result Project. Landlord, at Tenant's cost, may maintain "Loss of such failure is an increase Rents" insurance, insuring that the Rent will be paid in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory timely manner to Landlord is willing to provide such insurance, Tenant shall pay for a period of at least twelve (12) months if the Building or any increased cost payable portion thereof are destroyed or rendered unusable or inaccessible by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingscause insured against under this Lease.
Appears in 1 contract
Landlord’s Insurance. During the Term, Landlord shall insure the Building and the Premises (excluding, however, Tenant’s furniture, equipment and other personal property and the Tenant shall not cause or permit or suffer Improvements and any action or condition that would (iTenant Changes) invalidate or conflict against damage by fire and standard extended coverage perils and with vandalism and malicious mischief endorsements, rental loss coverage, at Landlord’s option, earthquake damage coverage, and such additional coverage as Landlord deems appropriate. Landlord shall also carry commercial general liability insurance, in such reasonable amounts and with such reasonable deductibles as would be carried by a prudent owner of a similar building in the state in which the Building is located. At Landlord’s option, all such insurance may be carried under any blanket or umbrella policies which contemplate a live entertainment use Landlord has in force for the Music Hallother buildings and projects. In addition, (ii) violate applicable rulesat Landlord’s option, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization Landlord may elect to self-insure all or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result part of such failure by Tenantrequired insurance coverage. Landlord may, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant but shall not be required to cease such action so long as the increased premium is the only effect obligated to, carry any other form or forms of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result Landlord or the mortgagees or ground lessors of Tenant’s failure to comply with Landlord may reasonably determine is advisable. If Landlord does not carry any of the provisions insurance described in this Section 21 for the Project during any part of this Article the Base Year but subsequently obtains such insurance for the Project during the Term, then from and (B) a separate after the date upon which Landlord obtains such insurance carrier of comparable rating or and continuing throughout the period during which is otherwise satisfactory to Landlord is willing to provide maintains such insurance, Tenant Operating Expenses for the Base Year shall pay any be deemed to be increased cost payable by the amount of the premium Landlord reasonably estimates it would have incurred had Landlord maintained such insurance for the same period of time during the Base Year as such insurance was maintained by Landlord during such subsequent calendar year. The cost of insurance obtained by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding Landlord pursuant to which Landlord this Section 21 (including self-insured amounts and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, deductibles) shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincluded in Operating Expenses.
Appears in 1 contract
Samples: Work Letter Agreement (Axesstel Inc)
Landlord’s Insurance. Subject to Tenant's reimbursement, Landlord shall provide fire, lightning, and extended coverage ("all risk") insurance and such additional insurance coverage as may be required by Landlord's mortgagee (including "loss of rents" insurance) on the building, of which the Demised Premises is a part, for the full replacement value thereof or such value as is required by Landlord's mortgagee, whichever is greater, against such loss. Tenant shall not cause or permit or suffer any action or condition that would reimburse Landlord, as additional rental hereunder, for Tenant's proportionate share (idetermined in the same manner as Tenant's proportionate share of taxes and assessments herein above) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Departmentcosts of the insurance premium therefore within ten (10) business days from the date Landlord submits to Tenant a statement setting forth the amount due Landlord under the provisions of this paragraph. Tenant agrees that it will not at any time, Fire Insurance Rating Organization during the term of this Lease, carry any stock of goods or do anything in or about the demised Premises which will in any other authority having jurisdiction over way tend to increase the Centerinsurance rates upon the building of which the Demised Premises are a part. In addition to Tenant's proportionate share of the costs of insurance premiums as described herein, (iii) cause an Tenant agrees to pay to Landlord forthwith upon demand the amount of any increase in the premiums for insurance against loss by fire that may be charged during the term of this Lease on the amount of insurance then covering to be carried by Landlord on the Buildings over that payable with respect building of which the Demised Premises are a part resulting from the foregoing or from Tenant doing any act in or about said Demised Premises which does so increase the insurance rates, whether or not the Landlord shall have consented to comparable first-class office buildings or theaters, or (iv) result in insurance companies such act on the part of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by LandlordTenant. If Tenant installs upon the fire insurance premiums increase as a result Demised Premises any electrical equipment which constitutes an overload on the electrical lines of Tenant’s failure the Demised Premises, Tenant shall at its own expense make whatever changes are necessary to comply with the provisions requirements of this Articlethe insurance underwriters, Tenant nothing herein contained shall promptly cure be deemed to constitute Landlord's consent to such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation thereforoverloading. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason 1/12 of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence Tenant's proportionate share of the fire estimated annual building insurance rates then applicable to premium in advance each month along with the Buildingsminimum rental payment. (See Lease Rider "A" Building Expenses attached hereto and incorporated herein.)
Appears in 1 contract
Samples: Lease Agreement (Iomed Inc)
Landlord’s Insurance. Landlord shall, at Landlord’s expense, procure and maintain throughout the Term of this Lease a policy or policies of insurance (a) insuring the Building and the Property and all of Landlord’s equipment and fixtures installed therein against loss due to fire and other casualties included in standard extended coverage insurance policies, in an amount equal to the replacement cost thereof; and (b) commercial general liability insurance covering bodily injury to or death of any one or more members of the Landlord Group in connection with Landlord’s operations on the Property in amounts reasonably required by Landlord’s lender(s) or Landlord. For the avoidance of doubt, however, Landlord and Tenant acknowledge and agree that, in no event, shall not cause Landlord be obligated to carry any insurance covering any of Tenant’s Personal Property, any Alteration to the Tenant Space made by or permit on behalf of Tenant, or suffer covering any action Tenant Party. All insurance required under this Lease shall be issued by insurers with a “General Policyholders Rating” of at least A-, VIII, as set forth in “Best’s Insurance Guide.” Such insurers shall be authorized to do business in the state in which the Property is located. Landlord hereby waives its rights against Tenant with respect to any claims or condition that would damages or losses for bodily injury to persons and/or for damage to the Building, the Property and/or Landlord’s equipment and fixtures, which are caused by or result from (i) invalidate or conflict with Landlord’s risks insured against under any insurance policies which contemplate a live entertainment use for are required to be obtained and maintained by Landlord under this Lease and that were, in fact, carried by Landlord at the Music Halltime of such claim, damage, loss or injury, or (ii) violate applicable rulesrisks which would have been covered under any insurance required to be obtained and maintained by Landlord under this Lease had such insurance been obtained and maintained as required. The foregoing waivers shall be in addition to, regulations and guidelines of the Fire Departmentnot a limitation of, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase waivers or releases contained in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsLease.
Appears in 1 contract
Landlord’s Insurance. Tenant shall not cause or knowingly permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for provided the Music Hallsame shall be commercially reasonable, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the CenterBuilding, (iii) cause an increase in the premiums for of fire insurance then covering for the Buildings Building over that payable with respect to comparable first-class office buildings or theatersComparable Buildings (unless Tenant pays such increase), or (iv) result in Landlord’s insurance companies of good standing companies’ refusing to insure the Buildings Building or any property therein in amounts and against risks as reasonably determined by Landlord. Landlord hereby represents that, to the best of Landlord’s actual knowledge as of the date hereof, Tenant’s use of the Premises for the Permitted Use and the Tenant’s Roof Deck Area for the RDA Permitted Use (i) does not violate any condition of Landlord’s insurance policies referred to in this Article 8, and (ii) will not cause an increase in the rate of fire insurance applicable to the Building to an amount higher than it otherwise would be. If the fire insurance premiums for the Building increase as a result of Tenant’s failure to comply with the provisions of this ArticleSection 8.1, Landlord shall provide reasonable proof thereof and Tenant shall promptly cure such failure and shall reimburse Landlord for the actual cost of the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result For purposes of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premiumclarity, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event acknowledges that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, so promptly cure shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsa default hereunder.
Appears in 1 contract
Samples: Agreement (2U, Inc.)
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would maintain in full force and effect during the Lease Term, subject to reimbursement as provided in Article 4, policies of insurance which afford such coverages as are commercially reasonable and as are consistent with other properties in Landlord's portfolio. Notwithstanding the foregoing, Landlord shall obtain and keep in force during the Lease Term, as an item of Operating Expenses, (i) invalidate or conflict commercial general liability insurance with respect to the Project in commercially reasonable amounts as determined in Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall's discretion, and (ii) violate applicable rulesa policy or policies in the name of Landlord, regulations with loss payable to Landlord and guidelines to the holders of any mortgages, deeds of trust or ground leases on the Premises ("Lenders"), insuring loss or damage to the Building, including all improvements, fixtures (other than trade fixtures) and permanent additions. However, all alterations, additions and improvements made to the Premises by Tenant shall be insured by Tenant rather than by Landlord. The amount of such insurance procured by Landlord shall be equal to at least eighty percent (80%) of the Fire Departmentfull replacement cost of the Building, Fire Insurance Rating Organization including all improvements and permanent additions as the same shall exist from time to time, or the amount required by Lenders. At Landlord's option, such policy or policies shall insure against all risks of direct physical loss or damage (including, without limitation, the perils of flood and earthquake), including coverage for any other authority having jurisdiction additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Building required to be demolished or removed by reason of the enforcement of any building, zoning, safety or land use laws as the result of a covered cause of loss. If any such insurance coverage procured by Landlord has a deductible clause, the deductible shall not exceed commercially reasonable amounts, and in the event of any casualty, the amount of such deductible shall be an item of Operating Expenses as so limited and shall be amortized over the Centeruseful life of the capital expenditure to which it relates, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If Notwithstanding anything to the fire contrary contained herein, to the extent the cost of maintaining insurance premiums increase with respect to the Building and/or any other buildings within the Project is increased solely as a result of Tenant’s failure to comply with the provisions 's acts, omissions, or particular use of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises (other than for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurancegeneral office use), Tenant shall pay any increased cost payable by Landlord by reason of its purchase of one hundred percent (100%) of, and for, such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincrease(s) as Additional Rent.
Appears in 1 contract
Landlord’s Insurance. Landlord shall, unless Tenant is designated the insuring party by Landlord and Tenant in writing, purchase and keep in force at all times during the Term a policy of fire, vandalism, malicious mischief, extended coverage and so-called all risk coverage insurance insuring the Premises and Site Improvements in an amount equal to 100% of the full replacement value of the Building and Site Improvements (excluding the costs of work and improvements installed at Tenant's expense, and less a commercially reasonable deductible) and which shall not cause or permit or suffer provide coverage for damages caused by Tenant's negligence. Tenant shall, at its sole cost and expense, comply with any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use and all reasonable requirements pertaining to the Premises, the Building and the Project of any insurer necessary for the Music Hallmaintenance of reasonable fire and commercial general liability insurance, covering the Building and the Project. Landlord may, upon at least thirty (ii30) violate applicable rulesdays prior written notice to Tenant (so that Tenant may adjust its business interruption insurance accordingly), regulations obtain and guidelines maintain "Loss of Rents" insurance, insuring that the Fire DepartmentRent will be paid in a timely manner to Landlord for a period not to exceed twelve (12) months (unless a longer period is required by Landlord's lender but not to exceed twenty-four (24) months) if the Premises, Fire Insurance Rating Organization the Building or the Project or any other authority having jurisdiction over the Centerportion thereof are destroyed or rendered unusable or inaccessible by any cause insured against under this Lease. If Landlord carries earthquake insurance, (iii) cause an increase in the premiums for fire such insurance shall not exceed the premium rate, as adjusted from time to time, of the California Earthquake Authority as applicable to the Premises or if no such rate is applicable to the Premise, then covering at a commercially reasonable rate, and in the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result event any earthquake damage occurs resulting in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord liability for the increased fire insurance premiums paid by Landlord deductible during the last three (3) years of the Term, Tenant's payment of such deductible shall be amortized over the useful life of the improvements subject to repair or replacement as a result of such failure by Tenantdamage, provided that Landlord at the Rate of Return and shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises be payable in monthly installments for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence portion of the fire insurance rates then applicable to useful life which falls within the BuildingsLease Term.
Appears in 1 contract
Samples: Lease Agreement (Broadcom Corp)
Landlord’s Insurance. Landlord shall insure the Building, Tenant Improvements and any Alterations during the Lease Term against loss or damage under an “all risk” property insurance policy on a full replacement cost basis with commercially reasonable deductibles. Such coverage shall not cause be in such amounts, from such companies, and on such other terms and conditions, as Landlord may from time to time reasonably determine. Additionally, at the option of Landlord, such insurance coverage may include the risks of earthquakes and/or flood damage and additional hazards, a rental loss endorsement and one or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines more loss payee endorsements in favor of the Fire Departmentholders of any mortgages or deeds of trust encumbering the interest of Landlord in the Building or the ground or underlying lessors of the Building, Fire Insurance Rating Organization or any other authority having jurisdiction over portion thereof. The costs of such insurance shall be included in Operating Expenses, subject to the Centerterms of Section 4.2.4. Tenant shall, (iii) cause an at Tenant’s expense, comply with all insurance company requirements pertaining to the use of the Premises. If Tenant’s conduct or use of the Premises causes any increase in the premiums premium for fire such insurance policies then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of any such failure by increase. Tenant, provided that Landlord at Tenant’s expense, shall furnish reasonable supporting documentation thereforcomply with all rules, orders, regulations or requirements of the American Insurance Association (formerly the National Board of Fire Underwriters) and with any similar body. If it is not practicable for Tenant Notwithstanding anything to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase contrary in Landlord’s insurance premium, then provided Tenant pays such increased premiumthis Lease, Tenant shall not be required to cease such action so long as comply with or cause the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure Premises to comply with any laws, rules, regulations or insurance requirements requiring the provisions construction of this Article alterations unless such compliance is necessitated solely due to Tenant’s particular use of the Premises. Landlord shall also keep in full force and (B) effect a separate policy of Commercial General Liability Insurance protecting Landlord against claims for bodily injury and property damage arising out of Landlord’s ownership, use and maintenance of the Building and the Common Areas. Such insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence on an occurrence basis and shall include limits of the fire insurance rates then applicable to the Buildingsliability not less than those required of Tenant under Section 10.3.1.
Appears in 1 contract
Samples: Lease (Annexon, Inc.)
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would carry at all times from and after the commencement of construction of the Landlord's Work and continuing throughout the Term of this Lease, (i) invalidate or conflict commercial general liability insurance with Landlord’s insurance policies which contemplate a live entertainment use for respect to the Music HallBuilding in an amount not less than $10,000,000.00 combined single limit per occurrence, and (ii) violate applicable rulesinsurance against loss or damage to the Building covered by the so-called "all risk" type insurance coverage with customary exceptions, regulations and guidelines in an amount equal to one hundred percent ( I 00%) of the Fire Departmentfull replacement cost thereof (which such property insurance shall incl ude so-called "Builder's Risk" coverage). Further, Fire Insurance Rating Organization Landlord may also maintain such insurance against loss of Annual Fixed Rent and Additional Rent for up to twelve (12) months (or any such longer period of time as Landlord's mortgagee may require) and such other authority having jurisdiction over the Centerrisks and perils as Landlord deems proper. Any and all such insurance (x) may be maintained under a blanket policy affecting other properties of Landlord and/or its affiliated business organizations, (iiiy) cause an increase in the premiums for fire insurance then covering the Buildings over that payable may be written with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks deductibles as reasonably determined by Landlord. If Landlord (which such deductible is currently $25,000.00 and which Landlord hereby covenants and agrees shall not exceed $75,000.00 during the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions Original Term of this ArticleLease) and (z) shall be subject to escalation reimbursement in accordance with Section 2.6. Nothing contained herein shall be construed so as to require Landlord to maintain terrorism or environmental pollution liability insurance or insurance covering mold in the Building (it being acknowledged, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenanthowever, provided that Landlord does in fact maintain such coverages as of the date of this Lease); provided, however, that in the event the Landlord originally named herein shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant sell, transfer, assign, convey or ground lease its interest in the Property to cure an unaffiliated third party, such failure new owner and continue any subsequent party succeeding to operate the Premises for the Permitted Uses and the only result of such failure is an increase in original Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant 's interest as Landlord under this Lease shall not be required entitled to cease such action so long charge to Tenant at any time during the Term as part of Operating Expenses Allocable to the increased premium is Premises any costs of terrorism or environmental pollution liability insurance in excess of one hundred ten percent (110%) of the only effect costs being paid by Tenant on account of such failure and, provided further, in coverages during the last full calendar year immediately prior to the conveyance by the original named Landlord. In the event that (ALandlord does not carry terrorism and/or envirorunental pollution liability insurance during calendar year 2009 but subsequently does maintain the coverage(s) Landlord’s insurance carrier refuses that was not so maintained in 2009 during any other Lease Year during the Term, Base Operating Expenses shall be equitably adjusted by adding an amount equal to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost amount that would reasonably have been payable by Landlord by reason of its purchase of for such insurance from such separate insurance carriercoverage(s) in 2009. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.S:\Lcgal\Waltham\77 Fourth Avenuc\Lcascs\Phasc Forward (H).doc:
Appears in 1 contract
Samples: Agreement (Care.com Inc)
Landlord’s Insurance. As part of Common Expenses, Landlord shall maintain (a) policies of commercial property insurance ("special cause of loss" with replacement cost endorsement) covering loss of or damage to the Project, including all permanent improvements and alterations that will become Landlord's property even if installed by Tenant, which insurance shall include flood and earthquake coverage; (b) commercial general liability insurance in an amount and with coverage determined by Landlord insuring Landlord against liability arising out of ownership, operation, use or occupancy of the Project; and (c) a rental income insurance policy, with loss payable to Landlord, in an amount equal to one year's Base Rent, plus the estimate of Tenant's Share of Common Expenses Real Property Taxes and insurance premiums. The policy obtained by Landlord shall not be contributory and shall not provide primary insurance. Landlord shall not obtain insurance for Tenant's fixtures or equipment or Building improvements installed by Tenant in the Premises. Tenant acknowledges that Landlord's insurance, through primary policies, special coverages or umbrella policies, may at Landlord's option be such as to include coverage for Hazardous Materials contamination and the liabilities flowing therefrom, provided that the cost of specific Hazardous Materials coverage shall be approximately $[*] per year (adjusted over time consistent with general increases in environmental insurance costs and to reflect any risk experience of Tenant in particular), with a deductible of no less than $[*] and on which Tenant shall be named as an additional insured. In the event of use of umbrella policies, the cost of environmental insurance shall be reasonably allocated by Landlord based on the experience/risk of the various properties if such matters are taken into account by the carrier in setting premiums. Common Expenses shall include any commercially reasonable deductible amount under insurance policies maintained pursuant to this Section 6.9, other than Landlord's liability insurance policy. Tenant shall not cause do or permit or suffer anything to be done which invalidates any action or condition that would (i) invalidate or conflict with Landlord’s such insurance policies which contemplate a live entertainment use for or increases the Music Hall, cost thereof (ii) violate applicable rules, regulations and guidelines of unless Tenant pays the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result cost of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincrease).
Appears in 1 contract
Landlord’s Insurance. Tenant The Landlord shall not cause throughout the Term carry: (a) insurance on the Building (excluding the foundations and excavations) and the machinery, boilers and equipment in or permit servicing the Building and owned by the Landlord or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines owners of the Fire Department, Fire Insurance Rating Organization Building (excluding any property which the Tenant and other Tenants are obliged to insure under Section 8.1 or any other authority having jurisdiction over the Center, similar section of their respective leases) against damage by fire and extended perils coverage; (iiib) cause an increase in the premiums for fire public liability and property damage insurance then covering the Buildings over that payable with respect to comparable first-class office buildings the Landlord's operations in the Development; and (c) such other form or theaters, forms of insurance as the Landlord or (iv) result the Mortgagee reasonably considers advisable. Such insurance shall be in insurance companies of good standing refusing to insure the Buildings or any property therein in such reasonable amounts and against risks with such reasonable deductibles as would be carried by a prudent owner of a reasonably determined similar building, having regard to size, age and location. The Landlord covenants and agrees that it shall, if same is obtainable, obtain a waiver of subrogation in favour of the Tenant in all policies of insurance placed by Landlordthe Landlord in respect of the Premises. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions obtaining such waiver of this Articlesubrogation, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums required to be paid by the Landlord as a result are increased, the amount of such failure increase attributable to obtaining such waiver of subrogation shall be paid by the Tenant on demand from the Landlord and upon the Landlord delivering appropriate evidence of such increased premium to the Tenant. Notwithstanding the Landlord's covenant in this Section 8.5 and notwithstanding any contribution by the Tenant to the cost of the Landlord's insurance premiums, provided that Landlord shall furnish reasonable supporting documentation therefor. If it the Tenant acknowledges and agrees that: (i) the Tenant is not practicable for relieved of any liability arising from or contributed to by its negligence or its wilful act or omissions; (ii) no insurable interest is conferred upon the Tenant to cure such failure and continue to operate under any insurance policies carried by the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article ; and (Biii) a separate the Tenant has no right to receive any proceeds of any insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued policies carried by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsLandlord.
Appears in 1 contract
Samples: Lease Extension Agreement (Avesta Technologies Inc)
Landlord’s Insurance. Landlord shall insure the Building and the Real Property during the Lease Term against loss or damage due to fire and other casualties covered within the classification of fire and extended coverage, vandalism coverage and malicious mischief, sprinkler leakage, water damage and special extended coverage on the Building. Such coverage shall be in such amounts, from such companies, and on such terms and conditions, as Landlord may from time to time reasonably determine. Landlord shall also carry, or self-insure Commercial General Liability Insurance coverage in commercially reasonable amounts and if Landlord elects to so self-insure such coverage. Tenant shall not cause be treated for all purposes as if Landlord had obtained such insurance from a third party carrier. Additionally, at the option of Landlord, such insurance coverage may include the risks of earthquakes and/or flood damage and additional hazards, a rental loss endorsement and one or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines more loss payee endorsements in favor of the Fire Department, Fire Insurance Rating Organization holders of any mortgages or deeds of trust encumbering the interest of Landlord in the Building or any other authority having jurisdiction over portion thereof. Tenant shall, at Tenant’s expense, comply with all insurance company requirements of which Tenant has been notified pertaining to the Center, (iii) cause an use of the Premises. If Tenant’s conduct or use of the Premises causes any increase in the premiums premium for fire such insurance policies then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of any such failure by increase. Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of at Tenant’s failure to expense, shall comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating all rules, orders, regulations or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence requirements of the fire insurance rates then applicable to American Insurance Association (formerly the Buildings.National Board of Fire Underwriters) and with any similar body. XXXXXX XXXXXX XXXXX [Foundation Health Systems]
Appears in 1 contract
Samples: Office Lease (Health Net Inc)
Landlord’s Insurance. Tenant With respect to insurance maintained by Landlord: Landlord shall maintain, as the minimum coverage required of it by this Lease, property insurance in so-called "Special" form insuring Landlord (and such others as Landlord may designate) against loss from physical damage to the Building with coverage of not cause or permit or suffer less than one hundred percent of the full actual replacement cost thereof and against loss of rents for a period of not less than twelve months. Such property damage insurance, at Landlord's election but without any action or condition that would requirement on Landlord's behalf to do so, (i) invalidate or conflict with may be written in so-called Special Form, excluding only those perils commonly excluded from such coverage by Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall's then property damage insurer, (ii) violate applicable rules, regulations and guidelines of may provide coverage for physical damage to the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over improvements so insured for up to the Center, entire full actual replacement cost thereof; (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect may be endorsed to comparable first-class office buildings include or theatersseparate policies may be carried to cover loss or damage caused by any additional perils against which Landlord may elect to insure, or including earthquake and/or flood; (iv) result may provide coverage for loss of rents for a period of up to twelve months; and/or (v) may contain "deductibles" per occurrence in insurance companies of good standing refusing an amount reasonably acceptable to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease cause such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result cover any of Tenant’s failure 's personal property, inventory and trade fixtures, or any modifications, alterations or improvements made or constructed by Tenant to comply or within the Leased Premises. Landlord shall maintain Commercial General Liability insurance insuring Landlord (and such others as are designated by Landlord) against liability for personal injury, bodily injury, death, and damage to property occurring in, on or about, or resulting from the use or occupancy of the Property, or any portion thereof, with combined single limit coverage of at least Two Million Dollars. Landlord may carry such greater coverage as Landlord or Landlord's Lender, insurance broker or advisor or counsel may from time to time determine is reasonably necessary for the provisions adequate protection of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsProperty.
Appears in 1 contract
Landlord’s Insurance. Landlord shall maintain, throughout the Term, a policy or policies of insurance covering damage to the Premises and the Building, excluding APL's personal property, the Tenant shall not cause or permit or suffer Improvements and any action or condition that would other tenant improvements in the Building, in the amount of at least eighty percent (i80%) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Departmentfull replacement value thereof, Fire Insurance Rating Organization or any other authority having jurisdiction over excluding excavations, foundations and footings, providing protection against all perils included within the Centerclassification of "all risk" coverage. Landlord may, (iii) cause at its election, maintain rental interruption insurance in an increase amount customary for similar first class office buildings, the premium cost of which shall be included in the premiums Building Operating Costs. All policies maintained by Landlord shall provide for fire insurance then covering the Buildings over that payable with respect to comparable deductibles in amounts customary for similar first-class office buildings or theatersin the vicinity of the Building. In addition, or Landlord shall maintain during the Term comprehensive general liability insurance, with a minimum combined single limit of coverage of not less than Five Million Dollars (iv$5,000,000). Landlord may maintain such other insurance in such amounts (excluding earthquake insurance) result as other owners of similar first class office buildings in the San Francisco/Oakland area are then maintaining provided such insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordcoverage is available at commercially reasonable rates. If the fire All liability insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid maintained by Landlord as a result shall specifically include the liability assumed hereunder by Landlord (provided, however, that the amount of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be construed to limit the liability of Landlord hereunder) and shall provide that it is primary insurance and not "excess over" or contributory with any other valid, existing and applicable insurance in force for or on behalf of APL. The policies required to cease such action so long as of APL and Landlord shall not eliminate cross- liability and shall contain a severability of interest clause. Notwithstanding the increased premium is foregoing, APL shall have the only effect right at any time during the Term when APL leases ninety percent (90%) or more of such failure and, provided further, in the event that Rentable Area of the Building upon not less than sixty (A60) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory days advance written notice to Landlord is willing to provide such insuranceundertake and maintain any or all of the insurance policies required of Landlord hereunder. If APL elects to maintain any policy required of Landlord hereunder, Tenant APL shall pay any increased be entitled to reimbursement of the cost payable by Landlord by reason of that portion insurance not allocable to the Premises. Landlord's payment of its purchase proportionate share of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, premiums shall be conclusive evidence made in the same manner as payment of Building Operating Costs by APL. Any installments of reimbursement of such insurance premiums shall be made in the fire same manner as payment of Building Operating Costs by APL. Any installments of reimbursement of such insurance rates then applicable to premiums not received when due shall bear interest from the Buildings.date due until paid at the Default Rate
Appears in 1 contract
Samples: Apl Office Lease (Apl LTD)
Landlord’s Insurance. Tenant Landlord shall not cause maintain a full replacement cost (or permit or suffer any action or condition that would (i) invalidate or conflict with such higher reasonable level of casualty coverage as Landlord’s insurance lender may require), policy or policies which contemplate a live entertainment use for the Music Hallof insurance, insuring Landlord (iiand such others as Landlord may designate) violate applicable rules, regulations against damage and guidelines destruction of the Fire DepartmentPremises and any Parking Structure and loss of rents (including Base Monthly Rent and Additional Rent) from the Premises for a period of not less than 12 months. Such policy shall insure the Premises and any Parking Structure from all risks and extended coverage perils and from any change in law applicable to the restoration of the Premises and any Parking Structure following any loss. Landlord may so insure the Premises and any Parking Structure separately, Fire Insurance Rating Organization or may insure the Premises and any Parking Structure with other authority having jurisdiction over property owned by Landlord, which Landlord elects to insure together under the Centersame policy or policies, (iii) cause an increase in provided that the premiums for fire insurance then covering the Buildings over that amount payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or Premises and any property therein in amounts Parking Structure is the full replacement costs thereof and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure deductible for such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it loss is not practicable for Tenant more than $50,000.00. Such fire and property damage insurance (i) may be endorsed to cure cover loss caused by such failure and continue additional perils against which Landlord may elect to operate insure, including earthquake and/or flood (if the Premises for the Permitted Uses are located in a flood plain), and the only result of to provide such failure is an increase in additional coverage as Landlord’s lender reasonably requires, and (ii) shall contain reasonable “deductibles” (not exceeding $50,000.00) except that in the case of earthquake and flood insurance premium, the deductible may be up to 15% of the replacement value of the property insured or such higher deductible as is then provided Tenant pays such increased premium, Tenant commercially reasonable. Landlord shall not be required to cease cause such action so long as insurance to cover any of the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result Tenant Improvements nor any of Tenant’s failure Trade Fixtures or Alterations. Landlord may exercise its option to comply with maintain earthquake insurance if it can be obtained at commercially reasonable rates (determined at the provisions of this Article time such insurance is placed), subject to Tenant’s right to obtain earthquake coverage comparable to that proposed by Landlord and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory reasonable acceptable to Landlord is willing to provide such insuranceat a lesser cost, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsafter consultation with Landlord.
Appears in 1 contract
Samples: Improvement Agreement (Echelon Corp)
Landlord’s Insurance. Tenant Landlord shall not cause maintain in full force and effect during the Term of this Lease, subject to reimbursement as provided in Section 6, policies of insurance which afford such coverages as are commercially reasonable and as is consistent with other properties in Landlord’s or permit Landlord’s affiliates’ portfolio. Notwithstanding the foregoing, Landlord shall obtain and keep in force during the Term of this Lease, as an item of Operating Expenses, a policy or suffer policies in the name of Landlord, with loss payable to Landlord and to the holders of any action mortgages, deeds of trust or condition that would ground leases on the Premises (“Lender(s)”), (i) invalidate on an “all risk” or conflict “special form” basis, insuring loss or damage to the Building, including all improvements, fixtures (other than trade fixtures) and permanent additions (ii) insuring loss or damage to the Tenant Improvements (but not any of Tenant’s Personal Property (as defined in Exhibit B) or the Nitrogen Tank) caused by earthquake. Except as set forth above with respect to earthquake coverage for the Tenant Improvements, all alterations, additions and improvements made to the Premises by Tenant (including the Tenant Improvements and the Nitrogen Tank) shall be insured by Tenant rather than by Landlord. Subject to the foregoing, the amount of the “all risk” or “special [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. form” insurance procured by Landlord shall be equal to at least ninety percent (90%) of the full replacement cost of the Building (excluding the cost of excavation and installation of footings), including all improvements and permanent additions as the same shall exist from time to time, or the amount required by Lenders. At Landlord’s option, Landlord shall insure against all risks of direct physical loss or damage to the Building (including, without limitation, the perils of flood and earthquake), including coverage for any additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or replacement of any undamaged sections of the Building required to be demolished or removed by reason of the enforcement of any building, zoning, safety or land use laws as the result of a covered cause of loss. If any such insurance coverage procured by Landlord has a deductible clause, the deductible shall not exceed reasonable amounts and as is then consistent with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hallor its affiliates’ portfolio, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire event of any casualty, the amount of such deductible shall be an item of Operating Expenses as so limited. Notwithstanding anything to the contrary contained herein, to the extent the cost of maintaining insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase Building is increased as a result of Tenant’s failure to comply with acts, omissions, alterations, improvements (including, without limitation, the provisions Tenant Improvements), use or occupancy of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurancePremises, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of one hundred percent (100%) of, and for, such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincrease(s) as Additional Rent.
Appears in 1 contract
Samples: Lease Agreement (Endwave Corp)
Landlord’s Insurance. Tenant During the Term, Landlord shall not cause or permit or suffer any action or condition that would keep in effect (i) invalidate commercial property insurance on the Base Building (but not on the Tenant Improvements or conflict with Landlordany Alterations or any of Tenant’s insurance policies which contemplate a live entertainment use for the Music Hallpersonal property), and (ii) violate applicable rules, regulations and guidelines a policy or policies of commercial general liability insurance insuring against liability arising out of the Fire Departmentrisks of death, Fire Insurance Rating Organization or any other authority having jurisdiction over bodily injury, property damage and personal injury liability with respect to the Center, Building and Property and (iii) cause such other types of insurance coverage, if any, as Landlord, in Landlord’s good faith discretion, may elect to carry. Landlord’s commercial property insurance shall provide protection against any peril included within the classification “Special Causes of Loss” inclusive of standard fire and extended coverage insurance, including endorsements against vandalism, malicious mischief and other perils, all in amounts not less than one hundred percent (100%) of their full replacement cost (this policy amount will not apply to any earthquake insurance coverage or flood insurance Landlord elects to maintain). Landlord’s policy shall include (i) an increase “extended coverage” endorsement, and (ii) a “building laws” and/or “law and ordinance” coverage endorsement that covers “costs of demolition,” “increased costs of construction” due to changes in the premiums for fire insurance then covering the Buildings over that payable building codes and “contingent liability” with respect to comparable first-class office buildings or theatersundamaged portions of the Building, or and (iviii) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordan “earthquake sprinkler leakage” endorsement. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in In the event that (A) Landlord’s insurance carrier refuses Landlord elects to provide certain insurance as a result self-insure for any of Tenant’s failure the foregoing, such right to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, self-insure shall be conclusive evidence of the fire conditioned upon Landlord adopting and complying with a commercially reasonable self-insurance rates then applicable program, including maintaining adequate reserves and adhering to the Buildingsprudent self-insurance practices.
Appears in 1 contract
Samples: Office Lease Agreement (On24 Inc)
Landlord’s Insurance. Tenant Landlord shall at all times during the --------------------- Lease Term carry, at its expense, a policy of insurance which insures the Building, including the Leased Premises, against loss or damage by fire or other casualty (namely, the perils against which insurance is afforded by a standard fire insurance policy and extended coverage endorsement) for the full replacement value of the Building; provided, however, that Landlord shall not cause be responsible for, and shall not be obligated to insure against, any loss of or permit damage to any personal property of Tenant or suffer any action which Tenant may have in the Building or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization Leased Premises or any other authority having jurisdiction over trade fixtures installed by or paid for by the CenterTenant on the Leased Premises or any additional improvements which Tenant may construct on the Leased Premises, (iii) cause and Landlord shall not be liable for any loss or damage to such property, regardless of cause, including the negligence of Landlord and its employees, agents, customer and invitees. If any alterations or improvements made by Tenant pursuant to Section 6.03 result in an increase in the premiums for fire charged during the Lease Term on the casualty insurance carried by Landlord on the Building, then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result cost of such increase in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined premiums shall be borne by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and who shall reimburse Landlord for the increased fire same as additional rent after being separately billed therefor. Landlord shall keep in full force and effect during the term of this Lease public liability and property damage insurance premiums paid in standard form with respect to the Common Areas and the operation thereof having a minimum limit of combined coverage of bodily injury and property damage of not less than Three Million Dollars ($3,000,000). The limit of any such insurance shall not limit the liability of Landlord hereunder. Such policies of insurance shall be issued by Landlord as a result an insurance company authorized to do business in the state in which the Leased Premises are located for the issuance of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure type of insurance coverage and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase rated B+XIII or better in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Best's Key Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsGuide.
Appears in 1 contract
Landlord’s Insurance. Landlord shall obtain and carry, throughout the terms of this Lease, fire, lightning, and extended coverage (“all risk”) insurance and such additional insurance coverage as may be required by Landlord’s mortgagee (including “loss of rents” insurance) on the building, of which the Demised Premises is a part, for the full replacement value thereof or such value as is required by Landlord’s mortgagee, whichever is greater, against such loss. Tenant shall not cause or permit or suffer any action or condition that would reimburse Landlord, as additional rental hereunder, for Tenant’s proportionate share (idetermined in the same manner as Tenant’s proportionate share of taxes and assessments herein above) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Departmentcosts of the insurance premium therefore within ten (10) days from the date Landlord submits to Tenant a statement setting forth the amount due Landlord under the provisions of this paragraph. Tenant agrees that it will not at any time, Fire Insurance Rating Organization during the term of this Lease, carry any stock of goods or do anything in or about the demised Premises, which will in any other authority having jurisdiction over way tend to increase the Centerinsurance rates upon the building of which the Demised Premises are a part. In addition to Tenant’s proportionate share of the costs of insurance premiums as described herein, (iii) cause an Tenant agrees to pay to Landlord forthwith upon demand the amount of any increase in the premiums for insurance against loss by fire that may be charged during the term of this Lease on the amount of insurance then covering to be carried by Landlord on the Buildings over that payable with respect building of which the Demised Premises are a part resulting from the foregoing or from Tenant doing any act in or about said Demised Premises which does so increase the insurance rates, whether or not Landlord shall have consented to comparable first-class office buildings or theaters, or (iv) result in insurance companies such act on the part of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by LandlordTenant. If Tenant installs upon the fire insurance premiums increase as a result Demised Premises any electrical equipment which constitutes an overload on the electrical lines of Tenant’s failure the Demised Premises, Tenant shall at its own expense make whatever changes are necessary to comply with the provisions requirements of this Articlethe insurance underwriters, nothing herein contained shall be deemed to constitute Landlord’s consent to such overloading. Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result pay 1/12 of Tenant’s failure to comply proportionate share of the estimated annual building insurance premium in advance each month along with the provisions of this Article minimum rental payment. “It is agreed that Landlord carries insurance for its own protection; Tenant is not a coinsured under Landlord’s own insurance nor a beneficiary thereof.” (See Lease Rider “A” Building Expenses attached hereto and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsincorporated herein.)
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Landlord’s Insurance. Tenant Landlord shall not cause maintain a full replacement cost (or permit or suffer any action or condition that would (i) invalidate or conflict with such higher reasonable level of casualty coverage as Landlord’s insurance lender may require), policy or policies which contemplate a live entertainment use for the Music Hallof insurance, insuring Landlord (iiand such others as Landlord may designate) violate applicable rules, regulations against damage and guidelines destruction of the Fire DepartmentPremises and any Parking Structure and loss of rents (including Base Monthly Rent and Additional Rent) from the Premises for a period of not less than 12 months. Such policy shall insure the Premises and any Parking Structure from all risks and extended coverage perils and from any change in law applicable to the restoration of the Premises and any Parking Structure following any loss. Landlord may so insure the Premises and any Parking Structure separately, Fire Insurance Rating Organization or may insure the Premises and any Parking Structure with other authority having jurisdiction over property owned by Landlord, which Landlord elects to insure together under the Centersame policy or policies, (iii) cause an increase in provided that the premiums for fire insurance then covering the Buildings over that amount payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or Premises and any property therein in amounts Parking Structure is the full replacement costs thereof and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure deductible for such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it loss is not practicable for Tenant more than $50,000.00. Such fire and property damage insurance (i) may be endorsed to cure cover loss caused by such failure and continue additional perils against which Landlord may elect to operate insure, including earthquake and/or flood (if the Premises for the Permitted Uses are located in a flood plain), and the only result of to provide such failure is an increase in additional coverage as Landlord’s lender reasonably requires, and (ii) shall contain reasonable “deductibles” (not exceeding $50,000.00) except that in the case of earthquake and flood insurance premium, the deductible may be up to 15% of the replacement value of the property insured or such higher deductible as is then provided Tenant pays such increased premium, Tenant commercially reasonable. Landlord shall not be required to cease cause such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of cover any Tenant’s failure Trade Fixtures or Alterations. Landlord may exercise its option to comply with maintain earthquake insurance if it can be obtained at commercially reasonable rates (determined at the provisions of this Article time such insurance is placed), subject to Tenant’s right to obtain earthquake coverage comparable to that proposed by Landlord and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory reasonable acceptable to Landlord is willing to provide such insuranceat a lesser cost, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsafter consultation with Landlord.
Appears in 1 contract
Samples: Lease (Echelon Corp)
Landlord’s Insurance. During the Lease Term, Landlord shall keep and maintain, or cause to be kept and maintained, as part of Operating Expenses, a policy or policies of insurance on the Buildings insuring the same against loss or damage by the following risks: fire and extended coverage, vandalism, malicious mischief, sprinkler leakage (if sprinklers are required in the Buildings under applicable building code provisions, or are installed by Tenant in the absence of such requirement) in amounts not less than ninety percent (90%) of Full Replacement Value of the Buildings, (including both the Buildings and any tenant improvements), or the amount of such insurance Landlord's lender requires Landlord to maintain. The term "Full Replacement Value" shall mean actual replacement cost, including changes required by new building codes or ordinances (exclusive of the cost of excavation, foundations and footings). Such insurance shall show, as a loss payee in respect of the Premises, Landlord, Tenant and any ground lessor or mortgagee of Landlord required to be named pursuant to its mortgage documents, as their interests may appear. Landlord, subject to availability thereof and, as part of Operating Expenses, shall further insure as Landlord deems appropriate coverage against flood, earthquake, environmental remediation, loss or failure of building equipment, rental loss for a period of eighteen (18) months for periods of repair or rebuild, workmen's compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the foregoing, Landlord may, but shall not cause or permit or suffer be deemed required to, provide insurance as to any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure improvements installed by Tenant, provided that Landlord such coverage does not duplicate coverages maintained by Tenant. Landlord, as part of the Operating Expenses, shall furnish reasonable supporting documentation therefor. If it is further carry General Liability with General Aggregate Amount & Per Occurrence Limit insurance with a single loss limit of not practicable less than Five Million Dollars ($5,000,000) for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating death or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organizationbodily injury, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable property damage with respect to the BuildingsReal Property.
Appears in 1 contract
Samples: BioMed Realty Trust Inc
Landlord’s Insurance. Landlord shall obtain and maintain the following: property insurance “the equivalent of causes of loss – special form” covering the full replacement cost of the Building (excluding foundations), less a commercially reasonable deductible if Landlord so chooses; provided, however, Landlord shall not be obligated to insure any furniture, equipment, trade fixtures, machinery, goods, or supplies which Tenant may keep or maintain in the Premises or any alteration, addition, or improvement which Tenant may make upon the Premises; and (2) commercial general liability insurance, which shall be in such amount as Landlord so determines and shall be in addition to, and not in lieu of, any insurance required to be maintained by Tenant. Tenant shall not cause or permit or suffer be included as an additional insured on any action or condition that would (i) invalidate or conflict policy of liability insurance maintained by Landlord. In addition, Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary, including, but not limited to, flood insurance, earthquake insurance and rent loss insurance, provided, that, maintaining such insurance is consistent with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations then-prevailing practices of institutional and guidelines prudent owners of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings properties comparable to the Premises in the same general geographical area in which the Premises is located. The premiums for all such insurance shall be included as part of the Operating Expenses charged to Tenant pursuant to Paragraph 6 hereof. The Premises or theaters, Building may be included in a blanket policy (in which case the cost of such insurance allocable to the Premises or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as Building will be reasonably determined by LandlordLandlord based upon the insurer’s cost calculations). If the fire Tenant shall also reimburse Landlord for any increased premiums or additional insurance premiums increase that Landlord reasonably deems necessary as a result of Tenant’s failure to comply with use of the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation thereforPremises. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long named as the increased premium is the only effect an additional insured on any policy of such failure and, provided further, in the event that (A) liability insurance maintained by Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.
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Landlord’s Insurance. Tenant shall not cause or permit or suffer Landlord covenants and agrees that throughout the Term it will insure the Demised Premises [excluding any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable property with respect to comparable first-class office buildings which Tenant is obligated to insure pursuant to Subsection 8.01(A)(l) above] against damage by fire and standard extended coverage perils for full replacement value and public liability insurance in such reasonable amounts with such reasonable deductibles as required by any mortgagee or theatersground lessor (if any), or if none, as would be carried by a prudent owner of a similar building in the area. In addition, Landlord shall maintain and keep in force and effect during the Term, rental income insurance insuring Landlord against abatement or loss of Basic Rent, including items of Additional Rent, in case of fire or other casualty similarly insured against, in an amount at least equal to the Basic Rent and Additional Rent during, at the minimum, one (iv1) result Lease year hereunder. Landlord may, but shall not be obligated to, take out and carry any other forms of insurance as it or the mortgagee or ground lessor (if any) of the Real Property may reasonably require or reasonably determine available. All insurance carried by Landlord on the Demised Premises shall be reimbursed in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks full by Tenant, as reasonably determined by LandlordAdditional Rent. If the fire insurance premiums increase as a result Upon written request of Tenant’s failure , Landlord shall provide Tenant with copies of certificates evidencing the insurance maintained by Landlord together with copies of premium invoices with respect to comply with such insurance coverage. Tenant further acknowledges that the exculpatory provisions of this Lease as set forth in Article XX and the provisions of this ArticleSubsection 8.02 as to Tenant's insurance are designed to insure adequate coverage as to Tenant's property and business without regard to fault and to avoid Landlord obtaining similar coverage for said loss for its negligence or that of its agents, Tenant shall promptly cure such failure and shall reimburse Landlord servants or employees which would result in double coverage for the increased fire insurance premiums paid by Landlord as a result of such failure same perils which is payable by Tenant. Landlord will not carry insurance of any kind on Tenant's furniture or furnishings, provided that or on any fixtures, equipment, appurtenances or improvements of Tenant under this Lease, and Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required obligated to cease such action so long as repair any damage thereto or replace the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingssame.
Appears in 1 contract
Samples: Indenture of Lease (Evivrus, Inc.)
Landlord’s Insurance. Tenant Landlord shall not cause insure the Project during the Lease Term against loss or permit or suffer any action or condition that would (i) invalidate or conflict damage on an "all risk" type insurance form, with Landlord’s insurance policies which contemplate a live entertainment use for customary exceptions, subject to such deductibles and self-insured retentions as Landlord may determine, in an amount equal to at least the Music Hall, (ii) violate applicable rules, regulations and guidelines replacement value of the Fire DepartmentBuilding. Such coverage shall be in such amounts, Fire Insurance Rating Organization from such companies, and on such other terms and conditions, as Landlord may from time to time reasonably determine. Landlord shall also carry rent continuation insurance. Additionally, at the option of Landlord, such insurance coverage may include the risks of earthquakes and/or flood damage and additional hazards, and one or more loss payee endorsements in favor of the holders of any mortgages or deeds of trust encumbering the interest of Landlord in the Project or the ground or underlying lessors of the Project, or any other authority having jurisdiction over portion thereof. Notwithstanding the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the foregoing provisions of this ArticleSection 10.2, Tenant the coverage and amounts of insurance carried by Landlord in connection with the Project shall promptly cure be materially comparable to the coverage and amounts of insurance which are carried by landlords of Comparable Buildings (provided that in no event shall Landlord be required to carry earthquake insurance), and provided further however, in no event shall the foregoing restrict Landlord from carrying Landlord's Mission Square Liability Insurance or TJPA Required Terrorism Insurance. Landlord shall carry commercial general liability insurance with coverage of at least $10,000,000.00 per occurrence, which may be obtained through a combination of primary and umbrella/excess policies. All such failure and insurance shall reimburse Landlord be obtained from insurers which meet the requirements of Section 10.6 below. This policy shall include coverage for liabilities assumed under this Lease as an insured contract. Duly executed certificates showing the material terms for the increased fire same, shall be deposited with Tenant on the date Tenant first occupies the Premises and upon renewals of such policies upon written request. Any failure of Landlord to obtain and maintain the insurance premiums paid policies and coverages required hereunder or failure by Landlord to meet any of the insurance requirements of this Lease beyond applicable notice and cure periods shall entitle Tenant to pursue, exercise or obtain any of the remedies provided for in Section 19.5 below, and Landlord shall be solely responsible for any loss suffered by Tenant as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsfailure.
Appears in 1 contract
Samples: Office Lease (Salesforce Com Inc)
Landlord’s Insurance. Tenant Landlord shall insure the Building (including the Building Structure, Building Systems, and all Building Standard improvements and Alterations), the Furniture and the other improvements in the Project during the Lease Term against loss or damage due to fire and other casualties covered within the classification of fire and extended coverage. Such coverage shall be in such amounts, from such companies, and on such other terms and conditions, as Landlord may from time to time reasonably determine, and after considering the coverages maintained by Comparable Buildings and may include such other and additional coverages as are maintained by owners of Comparable Buildings and/or as are required by mortgagees of Comparable Buildings. Said insurance deductible shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hallexceed commercially reasonable limits, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are partiesagree shall be $50,000 during the portion of the Term ending October 31, a schedule or “make up” of rates 2004; thereafter, Landlord may increase said deductible in its reasonable business judgment provided that the deductible is not greater than the greater of: (i) the deductible for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organizationsimilar insurance on Comparable Buildings, or other body fixing such fire insurance rates, shall be conclusive evidence of (ii) the fire insurance rates then deductible applicable to the Buildingspolicy held by Landlord if such policy is a blanket policy covering at least 1,000,000 square feet of office building space that is not within the Project but that is owned by Landlord or one of more affiliates of Landlord. Additionally, at the sole option of Landlord, such insurance coverage may include the risk of flood damage and additional hazards, rental interruption insurance and/or a rental loss endorsement and one or more loss payee endorsements in favor of the holders of any mortgages or deeds of trust encumbering the interest of Landlord in the Building or the ground or underlying lessors of the Building, or any portion thereof. Landlord shall maintain a Commercial General Liability Insurance policy covering the insured against claims of bodily injury and personal injury, for limits of liability not initially less than $5,000,000 each occurrence and $5,000,000 annual aggregate for each of bodily injury and personal injury, with said limits to be increased in the same manner as any increase in the limits set forth in SECTION 10.3.1, above.
Appears in 1 contract
Samples: Office Lease (Cytyc Corp)
Landlord’s Insurance. Tenant All insurance maintained by Landlord shall not cause or permit or suffer any action or condition that would be for the sole benefit of Landlord and under Landlord’s sole control. Landlord shall maintain throughout the Term (i) invalidate “all risk” or conflict with “special causes of loss form” property insurance including, at Landlord’s election, standard earthquake and flood insurance, insuring the structural components of the Building and the Project, to the extent of at least eighty percent (80%) of the full replacement value of such Building (excluding the Tenant Work, Leasehold Improvements and Specialized Leasehold Improvements), provided if any coverage that is not permitted to be maintained by Landlord hereunder would cause Operating Costs to increase by a material amount, then such coverage may only be added to Operating Costs if such coverage is either (a) maintained by a majority of landlords in Northern California of projects similar to the Project, as reasonably documented by Landlord, or (b) required by Landlord’s then-Mortgagee; and (ii) Commercial General Liability Insurance (ISO form or equivalent) covering Landlord’s activities in and about the Project. Provided the insurance coverage carried by Landlord pursuant to (i) above shall not be reduced or otherwise adversely affected, all of Landlord’s insurance policies which contemplate may be carried under a live entertainment use for blanket policy covering the Music Hall, (ii) violate applicable rules, regulations Project and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Centerproperty owned, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings leased or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid operated by Landlord as a result of such failure by Tenantor its affiliates, provided that Landlord shall furnish reasonable supporting documentation therefor. If it the insurance requirements in this Lease are fulfilled and the insurance coverage is not practicable for Tenant to cure diminished in any way. The cost of all such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure insurance is an increase included in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant Operating Costs. Landlord shall not be required obligated to cease such action so long as insure, and shall have no responsibility whatsoever for any damage to, the increased premium is the only effect of such failure andTenant Work, provided furtherany Leasehold Improvements, Specialized Leasehold Improvements or Tenant’s Property that Tenant may make, keep or maintain in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with Leased Premises during the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsTerm.
Appears in 1 contract
Samples: Office Lease Agreement (Splunk Inc)
Landlord’s Insurance. Tenant Landlord shall at all times during the term -------------------- of this Lease maintain in effect a policy or policies of "All Risk" insurance, together with sprinkler leakage and vandalism and malicious mischief coverage, covering one hundred percent (100%) of the full replacement cost valuation of the Building, and Landlord's personal property including its business papers, furniture, fixtures and equipment (collectively, "Landlord's Property"), subject to commercially reasonable deductibles, in the event of fire, lightning, windstorm, vandalism, malicious mischief and all other risks normally covered by "all risk" policies carried by landlords of comparable buildings in the vicinity of the Building. Landlord shall also obtain and keep in full force (a) a policy of commercial general liability and property damage insurance, (b) loss of rent insurance and (c) workers' compensation insurance, all such insurance being in amounts and with deductibles comparable to the insurance being carried by landlords of Comparable Buildings provided, however, that the foregoing shall not cause or permit or suffer any action or condition that would be applicable to Landlord's lender which shall be responsible to provide such coverage as the lender then utilizes under its insurance program for buildings similar to the Building if such lender becomes responsible under this Lease to provide such insurance. To the extent Landlord is constructing the Tenant Improvements, Landlord shall (i) invalidate or conflict with carry "all risk" property policy covering the Tenant Improvements in an amount not less than one hundred percent (100%) of the full replacement cost valuation naming Landlord’s insurance policies which contemplate a live entertainment use for 's Agents as the Music Hallinsured and Tenant as an additional insured to the extent of Tenant's interest in the Tenant Improvements, (ii) violate applicable rules, regulations cause the contractors and guidelines subcontractors to carry a policy of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, contractor's liability insurance with a policy limit of $1,000,000 and (iii) cause an increase in the premiums for fire insurance then covering its contractors and subcontractors to carry Commercial General Liability and Comprehensive Automobile Liability Insurance, including the Buildings over that payable with respect to comparable first-class office buildings or theatersownership, maintenance and operation of any automotive equipment, owned, hired, or non-owned in an amount not less than Five Hundred Thousand Dollars (iv$500,000) result for each person in insurance companies of good standing refusing to insure the Buildings one accident, and One Million Dollars ($1,000,000) for injuries sustained by two or more persons in any one accident and property therein damage liability in amounts and against risks as reasonably determined by Landlordan amount not less than One Million Dollars ($1,000,000) for each accident . If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this ArticleLandlord may also, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant but shall not be required to, maintain flood and earthquake insurance with respect to cease such action so long as the increased premium is Building, rental interruption insurance assuring that the only effect rent under this Lease will be paid to Landlord for a period of such failure andnot less than twelve (12) months if the Premises are destroyed or rendered inaccessible by a risk insured against under the foregoing coverage, provided furtherand any other types of insurance that Landlord, in its business judgment, may determine is necessary or desirable to obtain and is maintained by landlords of Comparable Buildings. The cost of all such insurance shall be included in the event that (A) Landlord’s insurance carrier refuses Operating Expenses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory be reimbursed by Tenant to Landlord is willing pursuant to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsParagraph 3.
Appears in 1 contract
Samples: Lease (Resources Connection Inc)
Landlord’s Insurance. Landlord shall purchase and keep in force "all risk" property insurance covering the Building and the Project. Tenant shall not cause or permit or suffer shall, at its sole cost and expense, comply with any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use and all reasonable requirements pertaining to the Premises, the Building and the Project of any insurer necessary for the Music Hallmaintenance of reasonable fire and commercial general liability insurance. covering the Building and the Project. Landlord, at Tenant's cost, may maintain "Loss of Rents" insurance, insuring that the Rent will be paid in a timely manner to Landlord for a period of at least twelve (ii12) violate applicable rulesmonths if the Premises, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization Building or the Project or any other authority having jurisdiction over portion thereof are destroyed or rendered unusable or inaccessible by any cause insured against under this Lease. Notwithstanding the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided furtherforegoing, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise Tenant provides satisfactory evidence to Landlord is willing that Tenant maintains insurance reasonably acceptable to provide Landlord insuring that the Rent will be paid in a timely manner to Landlord for a period of at least twelve (12) months if the Premise, the Building or the Project or any portion thereof are destroyed or rendered unusable or inaccessible by any cause insured against under this Lease, Landlord will not charge Tenant for the cost of maintaining "Loss of Rents" insurance; provided however, if for any reason Tenant fails to maintain such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates be responsible for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence payment of the fire Rent that would have been paid to Landlord had Tenant maintained insurance rates then applicable to the Buildingsfor such lost Rent.
Appears in 1 contract
Landlord’s Insurance. Landlord shall maintain all risk (also known as “special causes of loss form”) property insurance covering the full replacement cost of the Building and the Premises (excluding any Tenant- Made Alterations (as defined below)) and including ordinance or law coverage and commercial general liability insurance including Tenant as an additional insured, and meeting the requirements for commercial general liability insurance set forth in Section 9(c). All such insurance shall be included as part of the Operating Expenses charged to Tenant, to the extent permitted by Section 6. Landlord may satisfy its obligations under this Section 9(a) through one or more blanket policies, in which case the cost of such insurance allocable to the Premises will be reasonably determined by Landlord based upon the insurer’s cost calculations. Tenant will not cause use or permit the Premises to be used for any purpose or suffer in any action or condition manner that would (i) invalidate or conflict with void Landlord’s insurance policies which contemplate a live entertainment and Landlord shall provide Tenant with notice if Landlord becomes aware that any such use will void Landlord’s insurance; provided that this sentence shall not be deemed to prohibit the Permitted Uses. Tenant shall also reimburse Landlord for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization any increased premiums or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire additional insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as Landlord reasonably determined by Landlord. If the fire insurance premiums increase deems necessary as a result of Tenant’s failure to comply with the provisions use of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for other than the Permitted Uses Uses. Tenant may elect, upon ninety (90) days’ prior notice to Landlord, to maintain, at Tenant’s sole cost, all risk (or “special form”) property insurance covering the full replacement cost of the Building and all other structures and improvements on the only result of such failure Land, including any Tenant-Made Alterations, subject to industry-standard terms and conditions, and (i) Landlord will not have any obligation to maintain property insurance after the date set forth in Tenant’s notice; and (ii) any costs incurred by Landlord in connection with property insurance relating to the Building and all other structures and improvements on the Land after the date set forth in Tenant’s notice will be excluded from Operating Expenses. Landlord and mortgage lienholder will be included as loss payees, as their interests may appear, on policies covering the Building and all other structures and improvements on the Land. If Tenant proposes property insurance with lesser coverage terms than what is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as carried by Landlord at the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result time of Tenant’s failure initial notice (or what Landlord would have carried upon Substantial Completion of the Building based on similar buildings in its (or its parent entity’s) portfolio), then Tenant will submit such proposed property insurance for Landlord’s approval. In the event Tenant does not carry the property insurance required hereunder after its election to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide take over such insurance, then Tenant will be responsible for costs of the type that would have been insured by Landlord’s property insurance. Additionally, if Landlord becomes aware that Tenant is not carrying the property insurance required hereunder, Landlord shall pay have the right to immediately recommence carrying property insurance on the Building and all other structures and improvements on the Land (excluding any increased cost payable Tenant-Made Alterations), and Landlord may also recommence including in Operating Expenses any costs incurred by Landlord by reason of its purchase of such in connection with property insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable relating to the BuildingsBuilding and all other structures and improvements on the Land.
Appears in 1 contract
Samples: Lease Agreement (ROX Financial LP)
Landlord’s Insurance. Beginning with the commencement of Landlord’s Work and thereafter throughout the Term, Landlord shall purchase and keep in force, broad-form commercial general liability insurance, or the equivalent then-customary form providing comparable coverages, written on an occurrence basis containing provisions adequate to protect the Landlord from and against claims for bodily injury, including death and personal injury and claims for property damage occurring within the Park and/or the Building, such insurance having body injury and property damage combined limits of not less than five million dollars ($5,000,000) per occurrence. In addition, Landlord shall procure and continue in force during the Term, as the same may be extended hereunder, fire and extended coverage insurance, including vandalism, sprinkler leakage and malicious mischief, upon the Building on a full replacement cost basis, agreed cost value endorsement with agreed values for the Building and tenant improvements initially installed by Landlord, as determined annually by the Landlord’s insurer. Landlord may, at its cost, procure and continue in force during the Term, as the same may be extended hereunder, rental interruption insurance for twelve (12) months or the maximum amounts permitted. All insurance required of Landlord pursuant to this Section shall be effected under policies issued by insurers or recognized responsibility (which are rated A or A+ by Best’s Rating Service or a comparable rating by an equivalent service). The coverages required by this Section 5.1.6 may be provided by a single “package policy” or by a combination of “package policy” and umbrella but shall be on commercially reasonable terms and rates. Tenant shall not cause be responsible for notifying Landlord of any alterations, additions or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for improvements to be completed to the Music Hall, (ii) violate applicable rules, regulations and guidelines interior of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for which Tenant intends Landlord to insure under this Section. Notification shall include the Permitted Uses cost and description of such work and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure date on which coverage should commence; and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.
Appears in 1 contract
Samples: Lease (Nexx Systems Inc)
Landlord’s Insurance. Tenant shall not cause or permit or suffer Throughout the term of this Lease, Landlord will insure the Building (excluding any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable property with respect to comparable first-class office buildings which Tenant is obligated to insure pursuant to Paragraph 9.3 above) with, what is referred to as, "All Risk" Insurance covering the Building against damage by fire and standard extended coverage perils and public liability insurance, and shall carry rent insurance, and boiler and machinery insurance coverage; provided, however, that the foregoing insurances shall only be required hereunder to the extent such insurance is available at reasonable rates. All insurance coverage required by Landlord shall be in such reasonable amounts and with such reasonable deductibles as are required by any mortgagee or theatersground lessor (if any), or if none, as are determined by Landlord in its good-faith discretion, taking into consideration the insurance and deductibles as would be carried by a prudent owner of a similar buildings in the general area of the Building. Landlord may, but shall not be obligated or required to, carry any excess or other forms of insurance relating to the Building as it or the mortgagee or ground lessor (ivif any) result of Landlord may require or reasonably determine are available. All insurance carried by Landlord relating to the Building or common areas (including, without limitation, insurance in insurance companies excess of good standing refusing that required hereunder) shall be included as an Operating Expense pursuant to insure the Buildings Paragraph 4.1 of this Lease. Notwithstanding its inclusion as an Operating Expense or any property therein in amounts and against risks contribution by Tenant to the cost of insurance premiums by Tenant as reasonably determined provided herein, Tenant acknowledges that it has no right to receive any proceeds from any such insurance policies carried by Landlord. If Tenant further acknowledges that the fire insurance premiums increase as a result of Tenant’s failure to comply with the exculpatory provisions of this ArticleLease as set forth in Paragraph 9 and the provision regarding Tenant's insurance are designed to insure adequate coverage as to Tenant's property and business without regard to fault and to avoid Landlord's obtaining similar coverage for said loss for its negligence or that of its agents, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord servants or employees which could result in additional costs includable as a result part of such failure Operating Expenses which are payable by Tenant, provided that . Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall will not be required to cease such action so long as the increased premium is the only effect carry insurance of such failure andany kind on Tenant's personal property, provided further, in the event that equipment furniture or improvements of Tenant under this Lease and it shall be Tenant's responsibility (Aat Tenant's sole cost and expense) to repair any damage thereto. Landlord’s 's insurance carrier refuses to provide certain may be maintained through blanket policies of insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” Landlord's affiliates and through self-insurance programs of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsLandlord.
Appears in 1 contract
Samples: Radnor Technology and Research Center Office and Cafeteria Lease (BioMed Realty Trust Inc)
Landlord’s Insurance. Subject to Tenant's right to carry and pay -------------------- directly for insurance as permitted by Section 4.1, Landlord shall maintain during the Lease Term "all-risk" insurance insuring the Building against loss or damage due to fire and other casualties covered within the classification of fire and extended coverage, vandalism coverage and malicious mischief, sprinkler leakage, water damage, and special extended coverage. Such coverage shall be written for one hundred percent (100%) of the replacement cost value of the Building, without deduction for depreciation, and shall be from such companies, and on such other terms and conditions as Landlord may from time to time reasonably determine. Such insurance coverage shall also include a rental loss endorsement and one or more loss payee endorsements in favor of the holders of any mortgages or deeds of trust encumbering the interest of Landlord in the Real Property or the ground or underlying lessors of the Real Property, or any portion thereof. Such policy shall also contain a "stipulated value" endorsement deleting any co-insurance provisions. Notwithstanding the foregoing provisions of this Section 10.2, the coverage and amounts of insurance carried by Landlord in connection with the Building shall at a minimum be comparable to the coverage and amounts of insurance which are carried by institutional landlords of Comparable Buildings. Landlord shall also carry Worker's Compensation and Employee's Liability coverage as required by applicable law. Upon inquiry by Tenant, from time to time, Landlord shall inform Tenant shall not cause of all such insurance carried by Landlord. Tenant shall, at Tenant's expense, comply as to the Premises with all customary insurance company requirements pertaining to the use of the Premises to the extent consistent with the insurance company requirements imposed at the Comparable Buildings. If Tenant's conduct or permit or suffer use of the Premises other than for the uses permitted under Section 5.1 of this Lease causes any action or condition that would increase in the premium for such insurance policies, then Tenant shall, following notice from Landlord either (i) invalidate cease such conduct or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Halluse, or (ii) violate applicable reimburse Landlord for any such increase. Tenant, at Tenant's expense, shall comply with all rules, orders, regulations and guidelines or requirements of the American Insurance Association (formerly the National Board of Fire DepartmentUnderwriters) and with any similar body to the extent consistent with the rules, Fire Insurance Rating Organization orders, regulations or any other authority having jurisdiction over requirements imposed at the Center, Comparable Buildings. Landlord may carry earthquake and flood insurance with a deductible of not less than five percent (iii5%) cause an increase in of the premiums for fire replacement value of the Building at the time of loss and not more than the amount of deductible then customarily maintained under similar insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theatersComparable Projects, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall will reimburse Landlord for the increased fire insurance premiums paid by Landlord as premium cost thereof up to Sixty Thousand and 00/100 Dollars ($60,000.00) per year, plus annual increases thereof in an amount no greater on a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable percentage basis than the annual percentage increase in the Consumer Price Index for Tenant to cure such failure and continue to operate the Premises All Urban Consumers (base year 1982-1984'100) for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premiumLos Angeles, then provided Tenant pays such increased premiumAnaheim, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued Riverside area published by the appropriate Fire Insurance Rating OrganizationUnited States Department of Labor, or other body fixing such fire insurance rates, shall be conclusive evidence Bureau of the fire insurance rates then applicable to the BuildingsLabor Statistics.
Appears in 1 contract
Samples: Office Lease (Wells Real Estate Investment Trust Inc)
Landlord’s Insurance. Tenant Subject to Paragraph 14.3, below in respect of the Insurance Services Agreement, Landlord shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s maintain in full force and effect throughout the entire term of this Lease general comprehensive liability insurance policies which contemplate a live entertainment use for the Music HallBuildings and common areas and general fire and extended coverage insurance, (ii) violate applicable rules, regulations including vandalism and guidelines of the Fire Department, Fire Insurance Rating Organization special form or any such other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering or broader coverage as may from time to time be customary on the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies and the common areas and other areas of good standing refusing to insure land within which the Buildings or any property therein are located in such amounts and against risks as reasonably determined by Landlord. If Copies of all such insurance policies or certificates thereof endorsed to show payment of the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, premium shall be available for inspection by Tenant and such policies and certificates shall promptly cure such failure and shall reimburse show Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result beneficiary of such failure is an increase in Landlord’s any mortgage or deed of trust on the Property to be additional insureds as their interests may exist (or a mortgagee loss payable endorsement). Such insurance premiummay be provided by a blanket insurance policy covering the Property, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium coverage on the Property is at all times at least as great as required by this Paragraph. Such insurance obtained by Landlord under this Paragraph 14.1 shall be “Landlord’s Insurance”, and the only effect costs of such failure and, provided further, Landlord’s Insurance obtained by Landlord shall be included in the event that Insurance Expenses. Landlord shall provide notice to Tenant: (Ai) at least thirty (30) days prior to any expiration of Landlord’s insurance carrier refuses Insurance or any portion thereof, or (ii) as soon as reasonably practicable after Landlord learns of any potential inability of Landlord to provide certain insurance as a result continue to maintain Landlord’s Insurance or any portion thereof (each “Notice of TenantLandlord’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrierInsurance”). In any action or proceeding to which the event Tenant receives Notice of Landlord’s Insurance, Landlord and Tenant are partiesshall each work in good faith to obtain Landlord’s Insurance as promptly as possible, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire and if Landlord is unable to obtain Landlord’s Insurance Rating Organizationafter using good faith efforts to do so, or other body fixing such fire insurance rates, Landlord shall notify Tenant and Tenant shall be conclusive evidence required, no later than thirty (30) days after receipt of the fire insurance rates then applicable Notice of Landlord’s Insurance, to the Buildingspurchase and maintain or otherwise cause to be maintained, at its sole cost and expense, Landlord’s Insurance.
Appears in 1 contract
Samples: Lease Agreement (Faraday Future Intelligent Electric Inc.)
Landlord’s Insurance. Landlord shall keep in force at its own expense (a) contractual and comprehensive general liability insurance, including public liability and property damage, with a minimum combined single limit of liability of Two Million Dollars ($2,000,000.00) and at least Ten Million Dollars ($10,000,000.00) umbrella policy, for personal injuries, property damage or death of persons occurring in or about the Building and Premises, and (b) all-risk property and casualty insurance written at replacement cost value covering the Building and all of Landlord's improvements in and about same. Within ten (10) days following receipt of written request from Tenant, Landlord shall deposit certificates thereof with Tenant, which certificates shall accurately reflect the policies in force. Landlord's policies shall identify Tenant shall not cause or permit or suffer any action or condition as additional insured. Landlord represents and warrants that would (i) invalidate or conflict each year Landlord shall (conferring with its insurance professionals) reassess thoroughly and in good faith whether the amounts of Landlord’s 's various insurance policies which contemplate a live entertainment use coverages for the Music HallBuilding (or for any part or parts or components or components of it) are adequate in order to to determine whether it would be appropriate to increase the amounts of the coverages, (ii) violate applicable rules, regulations and guidelines in conducting this annual reassessment Landlord shall (conferring with its real-estate professionals) attempt to ascertain in good faith whether the value of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase Building has increased as a result of (among other things) tenant improvements (and any other improvements to the Building made by Tenant’s failure to comply with ), and (iii) Landlord shall, upon determining that the provisions value of the Building has increased, promptly procure a commensurate increase in the amount of its insurance coverages for the Building. Landlord acknowledges that the intent of this Articleprovision is to ensure that Tenant's substantial investment in the Building, Tenant shall promptly cure such failure and shall reimburse Landlord for which is likely to increase the increased fire insurance premiums paid by Landlord as a result value of such failure by Tenantthe Building, provided that is not lost through casualty. Prior to the commencement of each Operating Year, Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable to Tenant a written statement setting forth Landlord's estimate of the costs of the insurance required under this Section 13 for Tenant to cure such failure Operating Year and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such Landlord's estimated insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are partiescosts in equal monthly installments, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organizationin advance, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsas additional rent together with Base Rent.
Appears in 1 contract
Samples: Agreement of Lease (Griffin Capital Essential Asset REIT II, Inc.)
Landlord’s Insurance. Tenant shall not cause or permit or suffer Landlord covenants and agrees that throughout the Term it will insure the Property and the Building (excluding any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable property with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing which Tenant is obligated to insure pursuant to Subsection 10(a)(i)(1) above) against damage by fire and standard extended coverage perils and public liability insurance in such reasonable amounts with such reasonable deductibles as required by any mortgagee, or, if none, as would be carried by a prudent owner of a similar building in the Buildings area. In addition, Landlord shall maintain and keep in force and effect during the Term, rental income insurance insuring Landlord against abatement or loss of Fixed Basic Rent, including items of Additional Rent, in case of fire or other casualty similarly insured against, in an amount at least equal to the Fixed Basic Rent and Additional Rent during, at the minimum, one Lease Year hereunder. Landlord may, but shall not be obligated to, take out and carry any other forms of insurance as it or the mortgagee or ground lessor (if any) of Landlord may require or reasonably determine available. All insurance carried by Landlord on the Building and the Property or in connection with its ownership or operation thereof shall be included as an item of Operating Expenses pursuant to Section 8. Notwithstanding its inclusion as an Operating Expense or any property therein in amounts and against risks as reasonably determined contribution by Landlord. If Tenant to the fire cost of insurance premiums increase by Tenant as a result provided herein, Tenant acknowledges that it has no right to receive any proceeds from any such insurance policies carried by Landlord although Landlord shall use such proceeds in the repair and reconstruction of Tenant’s failure to comply with the Property and the Premises. Tenant further acknowledges that the exculpatory provisions of this Lease as set forth in Section 40 and the provisions of this ArticleSection 10 as to Tenant’s insurance are designed to insure adequate coverage as to Tenant’s property and business without regard to fault and avoid Landlord obtaining similar coverage for such loss for its negligence or that of its agents, Tenant shall promptly cure such failure and shall reimburse Landlord servants or employees which would result in double coverage for the increased fire insurance premiums paid by Landlord same perils includable as a result part of such failure Operating Expenses which are payable in part by Tenant. Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings, provided that or on any fixtures, equipment, appurtenances or improvements of Tenant under this Lease, and Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required obligated to cease such action so long as repair any damage thereto or replace the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingssame.
Appears in 1 contract
Samples: Unconditional Guaranty and Suretyship Agreement (Clearpoint Business Resources, Inc)
Landlord’s Insurance. Tenant shall not cause or permit or suffer any action or condition Landlord covenants and agrees that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for throughout the Music HallTerm it will insure the Property, (ii) violate applicable rules, regulations the Building and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase initial improvements constructed and/or installed in the premiums Premises by Landlord for fire insurance then covering the Buildings over that payable Tenant's use and occupancy pursuant to this Lease (excluding any property with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing which Tenant is obligated to insure pursuant to Subsection 10(a)(i)(1) above) against damage by fire and standard extended coverage perils and public liability insurance in such reasonable amounts with such reasonable deductibles as required by any mortgagee or ground lessor, or, if none, as would be carried by a prudent owner of a similar building in the Buildings area. In addition, Landlord shall maintain and keep in force and effect during the Term, rental income insurance insuring Landlord against abatement or loss of Fixed Basic Rent, including items of Additional Rent, in case of fire or other casualty similarly insured against, in an amount at least equal to the Fixed Basic Rent and Additional Rent during, at the minimum, one lease year hereunder. Landlord may, but shall not be obligated to, take out and carry any other forms of insurance as it or the mortgagee or ground lessor (if any) of Landlord may require or reasonably determine available. The costs of all insurance carried by Landlord on the Building or otherwise allocated to the Building pursuant to the Declaration shall be included as an Operating Expenses pursuant to Section 8. Notwithstanding its inclusion as an Operating Expense or any property therein in amounts and against risks as reasonably determined contribution by Landlord. If Tenant to the fire cost of insurance premiums increase by Tenant as a result provided herein, Tenant acknowledges that it has no right to receive any proceeds from any such insurance policies carried by Landlord although Landlord shall use such proceeds in the repair and reconstruction of Tenant’s failure to comply with the Building, the Property and the Premises. Tenant further acknowledges that the exculpatory provisions of this Lease as set forth in Section 45 and the provisions of this ArticleSection 10 as to Tenant's insurance are designed to insure adequate coverage as to Tenant's property and business without regard to fault and avoid Landlord obtaining similar coverage for such loss for its negligence or that of its agents, Tenant shall promptly cure such failure and shall reimburse Landlord servants or employees which would result in double coverage for the increased fire insurance premiums paid by Landlord same perils includable as a result part of such failure Operating Expenses which are payable in part by Tenant. Landlord will not carry insurance of any kind on Tenant's furniture or furnishings, provided that or on any fixtures, equipment, appurtenances or improvements of Tenant under this Lease, and Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required obligated to cease such action so long as repair any damage thereto or replace the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingssame.
Appears in 1 contract
Landlord’s Insurance. Landlord agrees, as part of the insurance otherwise contemplated under Article 5, Subparagraph (v) to carry policies insuring the building and improvements of the building complex, as the same may exist as of the execution of this Lease, against such perils of loss as Landlord may reasonably deem appropriate or as may be required by any mortgagee of the premises but without limitation, insurance covering fire and such other risks of direct or indirect loss or damage, as Landlord reasonably deems appropriate, including extended and broad form coverage risk and all risk endorsement, damage by water, flood and earthquake, in such amounts to cover such risks as Landlord may elect, sufficient to prevent any coinsurance provisions from becoming effective and at least equal to the full replacement value of the building without depreciation. Landlord agrees that such insurance shall not exceed an amount which is necessary to cover the full replacement cost in the event of a casualty. Such insurance shall also include rent insurance with all risk coverage in an amount not less than one year's current basic rent and additional rent. The cost of such insurance as may be carried by Landlord shall be reimbursed to Landlord by Tenant in accordance with Article 5. The insurance to be carried by Landlord shall not include any improvements made by Tenant nor shall it include any of Tenant's trade fixtures, furnishings, fixtures, inventory, personal property, or the like. Tenant shall not cause or permit or suffer have no right in any action or condition that would (i) invalidate or conflict with of Landlord’s 's insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required entitled to cease such action so long as be named insured or additional insured thereunder. To the increased premium is the only effect of such failure andextent Landlord carries excess insurance to that otherwise provided by Tenant under paragraph "A" above, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such including commercial general liability insurance, Tenant shall pay any increased as Additional Rent the Tenant's share of the cost payable and expense incurred by Landlord by reason of its purchase of for such liability and casualty insurance as Landlord may from time to time carry for Landlord's benefit on the property or insuring Landlord's interest therein; subject, however, that such insurance from in such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, amounts shall be conclusive evidence reasonable, under the circumstances, as is determined by Landlord's insurance advisor with due regard to Tenant's use and the character of the fire building, its location and amounts and kinds of insurance rates then applicable to the Buildingsnormally carried by others in similar circumstances.
Appears in 1 contract
Landlord’s Insurance. Tenant Landlord shall, at its sole cost and expense, maintain during the term, comprehensive (or commercial) general liability insurance, with limits of not less than $1,000,000 combined single limit for personal injury, bodily injury or death, or property damage or destruction (including loss of use thereof) for any one occurrence. Landlord shall also, at its sole cost and expense, maintain during the term worker’s compensation insurance as required by statute, and primary, non-contributory, extended coverage or “all-risk” damage insurance, in an amount equal to at least 90% of the full insurable replacement value of the premises exclusive of the cost of excavation, foundations and footings, and subject to reasonable deductible amounts, or such other amounts necessary to prevent Landlord from being a co-insured, and such other coverage as Landlord shall deem appropriate. Landlord shall provide Tenants with certificates evidencing such coverage and showing Tenants as additional insureds, prior to the Commencement Date, which shall state that such insurance coverage may not cause be changed or permit or suffer any action or condition that would cancelled without at least twenty (i20) invalidate or conflict with days prior written notice to Tenants, and shall provide renewal certificates to Tenants at least twenty (20) days prior to expiration of such policies. All insurance required hereunder shall be provided by responsible insurers and Landlord’s insurers shall be reasonably acceptable to Tenants. Landlord intends that its property loss risk shall be borne by responsible insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations carriers and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire Landlord hereby agrees to look solely to and to seek recovery only from its insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, carriers in the event of a property loss to the extent that (A) Landlord’s such coverage is agreed to be provided hereunder. Landlord hereby waives all rights and claims against Tenants for such losses, and waives all rights of subrogation of its insurers, provided such waiver of subrogation shall not effect the right of Landlord to recover thereunder. Landlord shall cause its insurance carrier refuses policies to be endorsed to provide certain insurance as for such a result waiver of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingssubrogation.
Appears in 1 contract
Samples: Lease (Central Coast Bancorp)
Landlord’s Insurance. Landlord shall maintain insurance against loss or damage with respect to the portions of the Project constituting Landlord's Repair Obligations (collectively, "Landlord's Insured Property") on an "all risk" or equivalent type insurance form, with customary exceptions, subject to such deductibles and self-insured retentions as Landlord may reasonably determine and consistent with the Operations Standard, in an amount equal to at least the replacement value of Landlord's Insured Property. In addition, Landlord shall maintain a Commercial General Liability Insurance policy with respect to the Project with limits of no less than $5,000,000 written on an occurrence basis, which shall provide contractual liability to cover Landlord’s indemnification obligation to Tenant under Section 10.1 above. Landlord's insurance company shall not cause be with a carrier who satisfies the requirements set forth in Section 10.4 below. Such insurance shall be maintained with an insurance company reasonably selected by Landlord. Payment for losses thereunder shall be made solely to Landlord. Landlord shall maintain earthquake insurance, terrorism insurance, and flood insurance, as Landlord may in its reasonable discretion elect and consistent with the Operations Standard. Landlord may also maintain such other insurance as may from time to time be reasonably required by a Mortgagee (as defined in Article 18 below) and consistent with the Operations Standard. Any or permit all of Landlord's insurance may be provided by blanket coverage maintained by Landlord or suffer any action affiliate of Landlord under its insurance program for its portfolio of properties, or condition that would (i) invalidate by Landlord or conflict any affiliate of Landlord under a program of self-insurance. Tenant shall, at Tenant's expense, comply with Landlord’s 's insurance policies which contemplate a live entertainment company's commercially reasonable requirements pertaining to the use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization Premises. If Tenant's conduct or use of the Premises for other than general office use causes any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums premium for fire such insurance policies then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of any such failure by increase. Tenant, provided that Landlord at Tenant's expense, shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with all rules, orders, regulations or requirements of the American Insurance Association (formerly the National Board of Fire Underwriters) and with any similar body. Notwithstanding the foregoing provisions of this Article Section 10.2, the coverage and (B) a separate amounts of insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable carried by Landlord in connection with the Building shall at a minimum be reasonably commensurate with the coverage and amounts of insurance which are carried by reason reasonably prudent landlords of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord Comparable Buildings, and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued Worker's Compensation and Employee's Liability coverage as required by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsApplicable Laws.
Appears in 1 contract
Samples: Office Lease (Reddit, Inc.)
Landlord’s Insurance. Tenant shall not cause or permit or suffer Throughout the term of this Lease, Landlord will insure the Building (excluding any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable property with respect to comparable first-class office buildings which Tenant is obligated to insure pursuant to Paragraph 9.3 above) with, what is referred to as, "All Risk" Insurance covering against damage by fire and standard extended coverage perils and public liability insurance, and shall carry rent insurance, and boiler and machinery insurance coverage; provided, however, that the foregoing insurances shall only be required hereunder to the extent such insurance is available at reasonable rates. All insurance coverage required by Landlord shall be in such reasonable amounts and with such reasonable deductibles as are required by any mortgagee or theatersground lessor (if any), or if none, as are determined by Landlord in its good-faith discretion, taking into consideration the insurance and deductibles as would be carried by a prudent owner of a similar building in the area of the Building. Landlord may, but shall not be obligated or required to, carry any excess or other forms of insurance relating to the Building as it or the mortgagee or ground lessor (ivif any) result of Landlord may require or reasonably determine are available. All insurance carried by Landlord relating to the Building or common areas (including, without limitation, insurance in insurance companies excess of good standing refusing that required hereunder) shall be included as an Operating Expense pursuant to insure the Buildings Paragraph 4.1 of this Lease. Notwithstanding its inclusion as an Operating Expense or any property therein in amounts and against risks contribution by Tenant to the cost of insurance premiums by Tenant as reasonably determined provided herein, Tenant acknowledges that it has no right to receive any proceeds from any such insurance policies carried by Landlord. If Tenant further acknowledges that the fire insurance premiums increase as a result of Tenant’s failure to comply with the exculpatory provisions of this ArticleLease as set forth in Paragraph 9 and the provision regarding Tenant's insurance are designed to insure adequate coverage as to Tenant's property and business without regard to fault and to avoid Landlord's obtaining similar coverage for said loss for its negligence or that of its agents, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord servants or employees which could result in additional costs includable as a result part of such failure Operating Expenses which are payable by Tenant, provided that . Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall will not be required to cease carry insurance of any kind on Tenant's personal property, furniture or improvements of Tenant under this Lease and it shall be Tenant's responsibility (at Tenant's sole cost and expense) to repair any damage thereto, including such action so long items as were purchased or constructed from the increased premium is the only effect Construction Allowance. Landlord's insurance may be maintained through blanket policies of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” Landlord's affiliates and through self-insurance programs of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the BuildingsLandlord.
Appears in 1 contract
Samples: Office Lease (I Trax Com Inc)
Landlord’s Insurance. Landlord shall, at Landlord’s expense, procure and maintain throughout the Term of this Lease a policy or policies of insurance insuring the Building and the Property and all of Landlord’s equipment and fixtures installed therein against loss due to fire and other casualties included in standard extended coverage insurance policies, in an amount equal to the replacement cost thereof. Landlord shall also maintain such insurance as is customarily carried by reasonably prudent landlords of datacenters in the city in which the Property is located. All insurance required under this Lease shall be issued by insurers with a “General Policyholders Rating” of at least A-, VIII, as set forth in “Best’s Insurance Guide.” Such insurers shall be authorized to do business in the state in which the Property is located. Landlord hereby waives its rights against Tenant shall not cause with respect to any claims or permit damages or suffer losses (including any action claims for bodily injury to persons and/or damage to property) which are caused by or condition that would result from (i) invalidate risks insured against under any insurance policy carried by Landlord at the time of such claim, damage, loss or conflict injury, or (ii) risks which would have been covered under any insurance required to be obtained and maintained by Landlord under this Lease had such insurance been obtained and maintained as required; provided, however, that in no event shall Landlord be deemed to have waived its rights against Tenant with respect to any claims or damages or losses (including any claims for bodily injury to persons and/or damage to property) which are caused by or result from the negligence or willful misconduct of Tenant and/or the Tenant Parties, as defined in Section 14.2 below. The foregoing waivers shall be in addition to, and not a limitation of, any other waivers or releases contained in this Lease. All of Landlord’s insurance policies which contemplate shall be endorsed so as to include a live entertainment use for waiver of subrogation with and to the Music Hall, (ii) violate applicable rules, regulations and guidelines full extent of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect waiver of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsclaims above.
Appears in 1 contract
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would carry at all times during the Term of this Lease (i) invalidate or conflict commercial general liability insurance with Landlord’s insurance policies which contemplate a live entertainment use for respect to the Music HallBuildings in an amount not less than $10,000,000.00 combined single limit per occurrence, (ii) violate applicable rules, regulations and guidelines insurance against loss or damage with respect to the Complex covered by the so-called "all risk" type insurance coverage with customary exceptions in an amount equal to one hundred percent (100%) of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over replacement value of all improvements within the Center, Complex and (iii) cause loss of "rental value" insurance in an increase in amount equal to not less than the premiums Annual Fixed Rent and payments on account of Operating Expenses Allocable to the Premises and Landlord's Tax Expenses Allocable to the Premises payable by Tenant under this Lease for fire not less than a one (1) year period (with a customary deductible). Landlord may also maintain such other insurance then covering as may from time to time be required by a mortgagee holding a mortgage lien on the Buildings over that payable Buildings. Further, Landlord may also maintain such insurance against loss of annual fixed rent and additional rent and such other risks and perils as Landlord deems proper. Any and all such insurance (x) may be maintained under a blanket policy affecting other properties of Landlord and/or its affiliated business organizations, (y) may be written with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks deductibles as reasonably determined by LandlordLandlord (which such deductible is currently $25,000.00) and (z) shall be subject to reimbursement in accordance with Section 2.6. If Nothing contained herein shall be construed so as to require Landlord to maintain terrorism or environmental pollution liability insurance (it being acknowledged, however, that Landlord does in fact maintain such coverages as of the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions date of this ArticleLease); provided, Tenant however, that in the event the Landlord originally named herein shall promptly cure sell, transfer, assign, convey or ground lease its interest in the Complex to an unaffiliated third party, such failure new owner and shall reimburse any subsequent party succeeding to the original Landlord's interest as Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant under this Lease shall not be required entitled to cease such action so long charge to Tenant at any time during the Term as part of Operating Expenses Allocable to the increased premium is Premises any costs of terrorism or environmental pollution liability insurance in excess of one hundred ten percent (110%) of the only effect costs being paid by Tenant on account of such failure and, provided further, in coverages during the event that (A) Landlord’s insurance carrier refuses last full calendar year immediately prior to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued conveyance by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsoriginal named Landlord.
Appears in 1 contract
Samples: Agreement (Irobot Corp)
Landlord’s Insurance. Landlord agrees to maintain insurance -------------------- insuring the Building against fire, lightning, vandalism and malicious mischief (including, if Landlord elects, "All Risk" coverage, boiler, sprinkler, earthquake, and/or flood insurance), in an amount not less than eighty percent (80%) of the replacement cost thereof; with deductibles and the form and endorsements of such coverage as selected by Landlord. Such insurance may also include, at Landlord's option, insurance against loss of Base Rent and Additional Rent in an amount equal to the amount of Base Rent and Additional Rent payable by Tenant for a period of at least twelve (12) months commencing on the date of loss. Such insurance shall be for the sole benefit of Landlord and under Landlord's sole control. Landlord shall not be obligated to insure any furniture, equipment, machinery, goods or supplies which Tenant may keep or maintain in the Premises, or any leasehold improvements, additions or alterations within the Premises. Landlord may also carry such other insurance as Landlord reasonably deems prudent or advisable, including, without limitation, liability insurance in such amounts and on such terms as Landlord shall reasonably determine. Tenant shall not neither use the Premises nor permit the Premises to be used in any way which will (a) increase the premium of any insurance described above; (b) cause a cancellation of or permit or suffer any action or condition that would (i) invalidate or be in conflict with Landlord’s any such insurance policies which contemplate a live entertainment use for the Music Hall, policies; (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (ivc) result in a refusal by insurance companies of good standing refusing to insure the Buildings or any property therein Building in amounts reasonably satisfactory to Landlord; (d) subject Landlord to any liability unsatisfactory to Landlord; or (e) subject Landlord to any liability or responsibility for injury to any person or property by reason of any operation being conducted in the Premises. Tenant shall at Tenant's expense, comply as to the Premises with all insurance company requirements pertaining to the use of the Premises. If Tenant's conduct or use of the Premises causes any increase in the premium for such insurance policies, and against risks as reasonably determined such conduct is otherwise permitted by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, then Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of any such failure by increase. Tenant, provided that Landlord at Tenant's expense, shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating all rules, orders, regulations or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence requirements of the fire insurance rates then applicable to American Insurance Association (formerly the BuildingsNational Board of Fire Underwriters) and with any similar body.
Appears in 1 contract
Samples: Lease (Netcentives Inc)
Landlord’s Insurance. Tenant shall not cause or permit or suffer Landlord covenants and agrees that throughout the Term it will insure the Building (excluding any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable property with respect to comparable first-class office buildings which Tenant is obligated to insure pursuant to Subsection 29(A)(1)(a) above) against damage by fire and standard extended coverage perils and public liability insurance in such reasonable amounts with such reasonable deductibles as required by any mortgagee or theatersground Landlord (if any), or if none, as would be carried by a prudent owner of a similar building in the area. In addition, Landlord shall maintain and keep in force and effect during the Term, rental income insurance insuring Landlord against abatement or loss of Term Basic Rent, including items of Additional Rent, in case of fire or other casualty similarly insured against, in an amount at least equal to the Term Basic Rent and Additional Rent during, at the minimum, one Calendar Year hereunder, Landlord may, but shall not be obligated to take out and carry any other forms of insurance as it or the mortgagee or ground Landlord (ivif any) result in of Landlord may require or reasonably determine available. All insurance companies of good standing refusing carried by Landlord on the Building or Office Building Area shall be included as an Operating Expense pursuant to insure the Buildings Subsection 22(A). Notwithstanding its inclusion as an Operating Expense or any property therein in amounts and against risks contribution by Tenant to the cost of insurance premiums by Tenant as reasonably determined provided herein, Tenant acknowledges that it has no right to receive any proceeds from any such insurance policies carried by Landlord. If Tenant further acknowledges that the fire insurance premiums increase exculpatory provisions of this Lease as a result of Tenant’s failure to comply with set forth in Section 35 and the provisions of Subsection 29(A) as to Tenant's insurance are designed to insure adequate coverage as to Tenant's property and business without regard to fault and to avoid Landlord obtaining similar coverage for said loss for its negligence or that of its agents, servants or employees which could result in additional costs includable as part of Operating Tenant's furniture or furnishings, or on any fixtures, equipment, appurtenances or improvements (other than those enumerated in Exhibit C which belong to Landlord) of Tenant under this Article, Tenant shall promptly cure such failure Lease and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premiumnot, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long except as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingsaforesaid Exhibit C items owned by Landlord, be obligated to repair any damage thereto or replace the same.
Appears in 1 contract
Landlord’s Insurance. Subject to Tenant's reimbursement, Landlord shall provide fire, lightning, and extended coverage ("all risk") insurance and such additional insurance coverage as may be required by Landlord's mortgagee (including "loss of rents" insurance) on the building, of which the Demised Premises is a part, for the full replacement value thereof or such value as is required by Landlord's mortgagee, whichever is greater, against such loss. Tenant shall not cause or permit or suffer any action or condition that would reimburse Landlord, as additional rental hereunder, for Tenant's proportionate share (idetermined in the same manner as Tenant's proportionate share of taxes and assessments herein above) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Departmentcosts of the insurance premium therefor within ten (10) days from the date Landlord submits to Tenant a statement setting forth the amount due Landlord under the provisions of this paragraph, Fire Insurance Rating Organization Tenant agrees that it will not at any time, during the term of this Lease, carry any stock of goods or do anything in or about the demised Premises which will in any other authority having jurisdiction over way tend to increase the Centerinsurance rates upon the building of which the Demised Premises are a pari. In addition to Tenant's proportionate share of the costs of insurance premiums as described herein, (iii) cause an Tenant agrees to pay to Landlord forthwith upon demand the amount of any increase in the premiums for fire insurance then covering against loss by the Buildings over that payable with respect may be charged during the term of this Lease on the amount of insurance to comparable first-class office buildings be carried by Landlord on the building of which the Demised Premises are a part resulting from the foregoing or theatersfrom Tenant doing any act in or about said Demised Premises which does so increase the insurance rates, whether or (iv) result in insurance companies not the Landlord shall have consented to such act on the part of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by LandlordTenant. If Tenant installs upon the fire insurance premiums increase as a result Demised Premises any electrical equipment which constitutes an overload on the electrical lines of Tenant’s failure the Demised Premises, Tenant shall at its own expense make whatever changes are necessary to comply with the provisions requirements of this Articlethe insurance underwriters, Tenant nothing herein contained shall promptly cure be deemed to constitute Landlord's consent to such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation thereforoverloading. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason 1/1 2 of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence Tenant's proportionate share of the fire estimated annual building insurance rates then applicable to premium in advance each month along with the Buildingsminimum rental payment. (See Lease Rider "A" Building Expenses attached hereto and incorporated herein.)
Appears in 1 contract
Landlord’s Insurance. Tenant Landlord shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s maintain insurance policies which contemplate a live entertainment use for covering the Music Hall, (ii) violate applicable rules, regulations and guidelines insurable portions of the Fire DepartmentBuildings in an amount not less than eighty percent (80%) of the estimated "replacement cost" thereof (with replacement cost endorsement) insuring against the perils of Fire, Fire Insurance Rating Organization or any other authority having jurisdiction over the CenterLightning, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theatersExtended Coverage, Vandalism, and Malicious Mischief, or (iv) result in such greater coverage as Landlord may elect or its mortgage lender may require. Landlord's insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as cover any glass, exterior office front or entrances, or related framing, sealants and glazing), any improvements or alterations installed by or at the increased premium is the only effect expense of such failure andTenant (or any other occupant), provided furtheror any fixtures, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insuranceequipment, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organizationfurnishings, or other body fixing such fire contents of the Premises. As its mortgage lender may require or as Landlord may deem prudent or necessary, Landlord may also elect to carry rent loss, general liability, automobile liability, flood, environmental or other insurance rates, coverages as it may elect. All proceeds of Landlord's insurance coverages shall be conclusive evidence the sole property and for the sole benefit of Landlord, and/or its mortgage lender, except that Tenant's recourse to any liability coverage is not precluded unless the effect of any other clause of this Lease results in Tenant waiving its claims against Landlord that would otherwise be payable from such liability policy. Landlord will not carry a deductible exceeding 1% of the fire insurance rates then applicable insurable value of the Buildings without the prior written consent of Tenant, and during any time that Tenant is the sole occupant of the Facility and specifies the same in written notice to Landlord or the Buildingsmajority of tenants of the Facility (by rentable square footage) agree in writing, Landlord will maintain a lesser deductible than it has elected to carry within the above maximum, but Landlord will never be required to carry less than $50,000.00 as its deductible when more than 10% of the Facility is not leased to third parties unless otherwise agreed by Landlord and Landlord will never be required to carry a deductible greater than $25,000.00) (as applicable, the "PERMITTED DEDUCTIBLE").
Appears in 1 contract
Samples: Lease Agreement (Suntron Corp)
Landlord’s Insurance. Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s Landlord shall, as an item of Operating Cost, maintain “All-Risk” property insurance at replacement cost, including loss of rents, on the Building, and Commercial General Liability insurance policies which contemplate a live entertainment use for covering the Music Hall, (ii) violate applicable rules, regulations and guidelines Common Area of the Fire DepartmentProperty, Fire Insurance Rating Organization or any other authority having jurisdiction over each with such terms, coverages and conditions as are normally carried by reasonably prudent owners of properties similar to the CenterProperty, including, without limitation, reasonable deductibles as are maintained by such owners (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable which, except with respect to comparable first-class office buildings earthquake coverage shall not exceed 10% of the replacement value of the Building). Landlord may, at Landlord’s option or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined if required by Landlord’s lender, as an item of Operating Cost maintain earthquake insurance. If The premiums for such earthquake insurance shall not exceed the fire premium rate, as adjusted from time to time, of the California Earthquake Authority as applicable to the Project, and the deductible amount of such insurance premiums increase as a result shall be equal to the amount typically held by the owners of similar commercial space in the University Towne Centre area. In the event any earthquake damage occurs resulting in Tenant liability for the deductible in excess of $10,000, Tenant’s failure to comply with payment of such deductible shall be amortized over the provisions useful life of this Article, Tenant shall promptly cure such failure the repair or replacement and shall reimburse Landlord be payable in monthly installments for the increased fire insurance premiums paid by Landlord as a result portion of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation thereforthe useful life which falls within the Lease Term. If it is not practicable for Tenant to cure such failure and continue to operate Notwithstanding the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premiumforegoing, Tenant shall not be liable for any earthquake insurance deductible in excess of $150,000. As an item of Operating Costs, Landlord shall also maintain (or cause to be maintained) the insurance required under the REA. Without affecting any other rights or remedies, Landlord and Tenant (“Waiving Party”) each hereby release and relieve the other, and waive their entire right to recover damages (whether in contract or in tort) against the other, for loss of or damage to the Waiving Party’s property arising out of or incident the perils required to cease be insured against under this Section 8. The effect of such action releases and waivers of the right to recover damages shall be limited by the amount of insurance carried or required, or by any deductibles applicable thereto. Landlord and Tenant agree to have their respective insurance companies issuing insurance pursuant to this Lease, waive any right to subrogation that such companies may have against Landlord or Tenant, as the case may be, so long as the increased premium insurance is not invalidated thereby. Landlord shall cause any contractor of Landlord performing work on the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses Premises to provide certain maintain insurance as a result of Tenant’s failure follows, with such other terms, coverages and insurers, as Landlord shall reasonably require from time to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.time:
Appears in 1 contract
Samples: Lease (Deltagen Inc)
Landlord’s Insurance. Landlord shall purchase and keep in force "all risk" property insurance covering the Building and the Project. Tenant shall not cause or permit or suffer shall, at its sole cost and expense, comply with any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use and all reasonable requirements pertaining to the Premises, the Building and the Project of any insurer necessary for the Music Hallmaintenance of reasonable fire and commercial general liability insurance, covering the Building and the Project. Landlord, at Tenant's cost, may maintain "Loss of Rents" insurance, insuring that the Rent will be paid in a timely manner to Landlord for a period of at least twelve (ii12) violate applicable rulesmonths if the Premises, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization Building or the Project or any other authority having jurisdiction over portion thereof are destroyed or rendered unusable or inaccessible by any cause insured against under this Lease. Notwithstanding the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided furtherforegoing, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise Tenant provides satisfactory evidence to Landlord is willing that Tenant maintains insurance reasonably acceptable to provide Landlord insuring that the Rent will be paid in a timely manner to Landlord for a period of at least twelve (12) months if the Premises, the Building or the Project or any portion thereof are destroyed or rendered unusable or inaccessible by any cause insured against under this Lease, Landlord will not charge Tenant for the cost of maintaining "Loss of Rents" insurance; provided, however, if for any reason Tenant fails to maintain such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates be responsible for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence payment of the fire Rent that would have been paid to Landlord had Tenant maintained insurance rates then applicable to the Buildingsfor such lost Rent.
Appears in 1 contract
Samples: Lease Agreement (Corgentech Inc)