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 Agreement (MSG Entertainment Spinco, Inc.), Lease Agreement (MSG Entertainment Spinco, Inc.), Lease (MSG Spinco, 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 special form coverage 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.
(b) 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 Ten Million Dollars ($10,000,000). 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 to carry under the given circumstances, provided such insurance from such separate insurance carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 5 contracts
Samples: Lease Agreement (Cardiodx Inc), Sublease (Gigamon Inc.), Lease Agreement (Cardiodx 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 5 contracts
Samples: Lease Agreement (Scientific Learning Corp), Lease Agreement (Adept Technology Inc), Lease Agreement (Adept Technology 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 special form coverage 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 the full actual replacement cost thereof. 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 manufacturing equipment, personal property, inventory, and trade fixtures, or any modifications, alterations or improvements made or constructed by Tenant to or within the Leased Premises.
(b) 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 increased premium use or occupancy of the Property, or any portion thereof, with combined single limit coverage of at least Thirty Five Million Dollars ($35,000,000). 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 4 contracts
Samples: Lease Agreement (Jazz Semiconductor Inc), Lease Agreement (Jazz Semiconductor Inc), Lease Agreement (Jazz Semiconductor Inc)
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. 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 Agreement (Irobot Corp), Lease Agreement (Irobot Corp), Lease Agreement (Irobot 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 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 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 special form coverage 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 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 increased premium use or occupancy of the Property, or any portion thereof, with combined single limit coverage of at least Ten Million Dollars ($10,000,000). 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 3 contracts
Samples: Lease Agreement (Digital Microwave Corp /De/), Lease Agreement (Macromedia Inc), Lease Agreement (Digital Microwave Corp /De/)
Landlord’s Insurance. the Landlord shall take out or cause to be taken out and keep or cause to be kept in full force and effect:
(a) standard fire, extended coverage, riot, vandalism, and malicious mischief insurance, on the buildings and improvements located on the Property, on a replacement cost basis, in an amount such as would be carried by a prudent owner, subject to such deductions and exceptions as the Landlord may determine; such insurance shall be in a form or forms normally in use from time to time for buildings and improvements of a similar nature similarly situated, including, should the Landlord so elect, insurance to cover any loss of rental income which may be sustained by the Landlord;
(b) boiler and machinery insurance on such boilers and pressure vessels as may be installed by, or under the exclusive control of, the Landlord on the Property (other than such boilers and pressure vessels to be insured by the Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with hereunder); The Landlord’s and Tenant’s insurance policies which contemplate shall contain a live entertainment use for waiver by the Music Hall, (ii) violate applicable rules, regulations and guidelines insurer of the Fire Department, Fire Insurance Rating Organization any rights of subrogation or indemnity or any other authority having jurisdiction claim over which such insurer might otherwise be entitled against the Center, (iii) cause an increase Landlord/Tenant and for those for whom in law they are responsible. Provided that nothing herein shall prevent the premiums for fire insurance then covering Landlord from providing or maintaining such broader coverage as the Buildings over that payable with respect Landlord may determine. The Tenant shall pay 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 Landlord as reasonably determined by Landlord. If Additional Rent the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions Proportionate Share 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 the Landlord. The Landlord’s Proportionate Share shall be calculated on the basis set out under Section 1.02 of such failure by Tenant, this Lease provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate if the Leased Premises for are insured separately from any other premises located on the Permitted Uses and Property 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 to the Landlord by reason of its purchase of such as Additional Rent the full 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 premiums paid by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence Landlord in respect of the fire insurance rates then applicable to the BuildingsLeased Premises.
Appears in 3 contracts
Samples: Lease Agreement (Eleven Biotherapeutics, Inc.), Lease Agreement (Viventia Bio Inc.), Lease Agreement (Viventia Bio 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 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. (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 (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 broker;
(b) Provided that:
(i) invalidate if in the opinion of Landlord any Leasehold Improvements do not constitute a finishing of the Premises in a manner which would have general utility but are specially or conflict with peculiarly adapted for Tenant’s use, or if the insuring of any of the Leasehold Improvements in the Premises involves, or would in the opinion of Landlord’s insurance policies which contemplate broker involve, a live entertainment use premium exceeding that for the Music Hallinsuring of Leasehold Improvements normal in the Premises, or any special stipulations or conditions of a policy of insurance are imposed or involved in the insurance thereof, Landlord may from time to time elect, by written notice to Tenant, not to insure or cause to be insured any such Leasehold Improvements, in which event Tenant shall, and Landlord shall not, be required to insure such Leasehold Improvements; and
(ii) violate applicable rules, regulations and guidelines if from time to time the insuring of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase Leasehold Improvements in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or Premises (iv) result in insurance companies of good standing refusing other than those which Landlord may have elected not to insure or cause to be insured as aforesaid) requires a premium or an allocated part of a premium, as established either by the Buildings insurer or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result estimate 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 premiumbroker, then provided which exceeds the average premium cost per unit for insuring Leasehold Improvements normal to the Premises, Landlord may from time to time charge the excess premium cost to Tenant pays such increased premium, and Tenant shall not make prompt payment therefor upon receipt of invoices from Landlord; and
(c) Upon the request of Tenant from time to time Landlord will furnish a statement as to the perils in respect of which and the amounts to which the Premises and the Leasehold Improvements In the Premises have been insured, and Tenant shall be required entitled at reasonable times upon reasonable notice to cease such action so long as Landlord to inspect copies of the increased premium is the only relevant portions of all policies of insurance in effect and a copy of such failure and, provided further, in the event that (A) any relevant opinions of 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 Buildingsbroker.
Appears in 2 contracts
Samples: Lease Agreement, Lease (Tekmira Pharmaceuticals Corp)
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 have the following obligations and options regarding insurance:
A. Landlord shall maintain a policy or policies of fire and property damage insurance in so-called "all risk" form insuring Landlord (and such others as Landlord may designate) against loss of rents for a period of not cause or permit or suffer any action or condition that would less than six, (6) months and from physical damage to the Premises with coverage of not less than the full replacement cost of (i) invalidate the building of which the Premises are a part, including the structural elements thereof and all electrical, mechanical, plumbing, and other systems, and (ii) all Interior Improvements constructed pursuant to the Interior Improvement Agreement attached as Exhibit "C". Landlord may so insure the Premises separately, or conflict may insure the Premises with other buildings and improvements within the Property and/or other property owned by Landlord which Landlord elects to insure together under the same policy or policies. Such fire and property damage insurance, at Landlord’s insurance policies 's election, (i) may be endorsed to cover loss caused by such additional perils against which contemplate a live entertainment use for the Music HallLandlord may elect to insure, including earthquake and/or flood, (ii) violate applicable rulesshall contain commercially reasonable "deductibles" which, regulations in the case of earthquake and guidelines flood insurance, may be up to ten percent (10%) of the Fire Department, Fire Insurance Rating Organization replacement value of the property insured or any other authority having jurisdiction over the Centersuch higher amount as is then commercially reasonable, (iii) cause an increase in the premiums may provide coverage for fire insurance then covering the Buildings over that payable with respect loss of rents for a period of up to comparable first-class office buildings or theaterstwelve (12) months, or and (iv) result in insurance companies of good standing refusing to insure the Buildings may contain additional endorsements or coverage reasonably required by Landlord or any property therein Lender, including an "agreed amount" endorsement, demolition insurance (covering the cost of demolishing damaged improvements or improvements required by Law to be demolished), and difference in amounts and against risks as reasonably determined by Landlordcondition coverage. 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.cause
Appears in 2 contracts
Samples: Lease (United Defense Lp), Lease (United Defense Lp)
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 From and after 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 Partial Property Termination Date with respect to comparable first-class office buildings or theatersany Tenant Option Property, or (iv) result in insurance companies of good standing refusing subject 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 obligation to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall pay to or reimburse Landlord for Tenant’s Proportionate Share of the increased fire insurance premiums paid costs and expenses incurred by Landlord as a result in connection therewith (“Landlord’s Insurance Costs”) pursuant to the terms of this Lease, Landlord shall obtain and maintain (or cause to be obtained and maintained) All-Risk Insurance with respect to such failure by Tenant, provided Tenant Option Property (it being agreed that from and after the date 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 obtains such insurance, Tenant shall pay no longer be obligated to maintain the same). Notwithstanding anything to the contrary in this Lease, to the extent that, prior to the Commencement Date, Tenant’s Predecessor maintained deductibles with respect to any increased cost payable property or liability insurance coverage required to be obtained and maintained by Landlord by reason Tenant hereunder that are higher than the maximum deductibles expressly set forth in Section 11.1, Tenant shall (subject to the succeeding proviso) be expressly permitted (without the same constituting an default or Event of its purchase Default hereunder) to maintain insurance coverage with deductibles equal to or less than such historical amounts; provided, however, that in no event may any such deductible exceed two percent (2%) of such insurance from such separate insurance carrierthe then current Tangible Net Worth of the Lease Guarantors. In the event that Tenant maintains insurance coverage with deductibles that exceed the maximum deductible amounts set forth in Section 11.1 above (such excess amounts, the “Excess Deductible Amounts”), Landlord may (but shall not be obligated to) obtain at its expense so-called “buy-down” insurance coverage or other similar insurance coverage having the effect of reducing the deductibles then maintained by Tenant to the level of any action applicable maximum deductible set forth in Section 11.1 above. If any insurance proceeds are paid pursuant to any “buy-down” insurance coverage or proceeding other similar insurance coverage maintained by Landlord, then Landlord shall be exclusively entitled to which Landlord receive and Tenant are parties, a schedule or “make up” of rates retain such proceeds for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organizationits own account and shall have no obligation to pay over, or other body fixing make available to Tenant, such fire insurance rates, shall be conclusive evidence proceeds in connection with a restoration of the fire insurance rates then applicable to the Buildingsaffected Property or otherwise.
Appears in 2 contracts
Samples: Retail Master Lease (Copper Property CTL Pass Through Trust), Retail Master Lease (J C Penney Co 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. 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: Lease Agreement (Milacron Holdings Corp.), Lease (Milacron Holdings Corp.)
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. 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. 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 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. 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 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: Lease Agreement, Lease Agreement
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 special form coverage 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 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. If Tenant so desires, Tenant may at any time and from time to time seek to obtain (and pay directly for) a separate earthquake insurance policy for the Building with such policy limits as Tenant desires, so long as there is no effect on any insurance carried by Landlord.
(b) 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 increased premium use or occupancy of the Property, or any portion thereof, with combined single limit coverage of at least Ten Million Dollars ($10,000,000). 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 to 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 2 contracts
Samples: Lease Agreement (Switch & Data, Inc.), Lease (Switch & Data, 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 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 increased premium use or occupancy of the Property, or any portion thereof, with combined single limit coverage of at least Five Million Dollars ($5,000,000). 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Samples: Lease (Ultratech Stepper 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 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; and/or (iii) cause an increase may be endorsed to cover loss or damage caused by any additional perils against which Landlord may elect to insure. Notwithstanding the foregoing, if Landlord elects to carry earthquake or flood insurance. Landlord may pass through to Tenant as a Property Operating Expense only reasonable premiums for such coverages if such coverages are available at commercially reasonable rates and purchased by other owners of similar properties in the area of the Leased Premises. Under no circumstances, however, shall Tenant be required to pay or reimburse to Landlord the amount of any deductibles for such coverages or for premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings flood 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 Landlordearthquake coverage exceeding $ 4,000 per year. 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.
(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 Two Million Dollars ($2,000,000). 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
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: Lease (Echelon Corp)
Landlord’s Insurance. Landlord shall, at Tenant’s sole cost and expense, at all times throughout the Term and such other times, if any, as Tenant or any Transferee occupies the Property or any portion thereof, obtain and maintain the following insurance:
(a) Insurance on the Property and any machinery, boilers and equipment contained therein or servicing the Property on an “all risks” basis including, but not limited to, sprinkler leakage, sewer back-up, flood and earthquake, for not less than the full Replacement Cost thereof;
(b) Commercial general liability insurance with respect Landlord’s operations and interest in the Property for a limit of not less than Ten Million Dollars ($10,000,000); and
(c) any other insurance against such risks and/or in such amounts as Landlord, acting in a commercially reasonable manner within insurance industry norms, and/or its Holder may from time to time require, as a prudent owner from time to time upon not less than thirty (30) days written notice to Tenant. Without limiting the foregoing, Tenant acknowledges and agrees that given the length of the Term, the minimum amounts set out herein will increase in a commercially reasonable manner from time to time upon not less than thirty (30) days written notice to Tenant to reflect market and inflationary increases. Such Landlord insurance shall be with such reasonable deductibles as would be carried by a prudent owner of a reasonably similar building, having regard to size, age, use and location. Notwithstanding Landlord’s covenant contained in this Section, and notwithstanding any contribution by Tenant to the cost of insurance premiums provided herein, Tenant acknowledges and agrees that no insurable interest is conferred upon Tenant under any policies of insurance carried by Landlord, and Tenant has no right to receive any proceeds of any such insurance policies carried by Landlord. If, for any reason, Landlord fails to obtain and/or keep in force the Landlord insurance hereunder and/or said insurance is not cause issued or permit renewed or suffer is otherwise cancelled or terminated for any action reason, then so long as no Event of Default has occurred and is subsisting, Tenant may, upon five (5) Business Days’ notice to Landlord, place or condition attempt to place with a comparable insurer said insurance on behalf of Landlord at Tenant’s sole cost and expense. Provided however, that would if, for whatever reason, Tenant or Landlord cannot place or keep in force said insurance in a timely manner, then it shall constitute an Event of Default hereunder within five (5) Business Days after notice thereof from Landlord. THIS INDEMNITY AGREEMENT made as of the 30th day of November, 2012. In order to induce 271 FRONT INC. (the “Landlord”) to enter into the lease dated as of the date hereof (as the same may be hereafter amended and restated, extended, renewed, amended, restated, supplemented, replaced and/or Transferred from time to time, collectively, the “Lease”) between the Landlord, as lessor, and EQUINIX CANADA LTD. (the “Tenant”) as lessee and for TEN DOLLARS ($10.00) and other good and valuable consideration, the receipt and sufficiency whereof are hereby acknowledged, EQUINIX, INC. (the “Indemnifier”) hereby covenants and agrees as follows with and in favour of the Landlord (unless otherwise defined herein, capitalised terms used herein shall have the same meanings as attributed to them in the Lease):
1. The Indemnifier hereby covenants and agrees with and in favour of the Landlord that at all times, the Indemnifier will without any set-off, reduction, abatement or deduction whatsoever: (i) invalidate make the due and punctual payment of all Rent, monies, charges and other amounts of any kind whatsoever payable under the Lease by the Tenant whether to the Landlord or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, otherwise; (ii) violate applicable rules, regulations effect the prompt and guidelines complete performance and observance of each and every one of the Fire Departmentterms, Fire Insurance Rating Organization conditions, indemnities, liabilities, agreements, commitments, covenants and obligations contained in the Lease on the part of the Tenant to be kept, fulfilled, observed and performed from time to time (collectively, the “Covenants”); and (iii) indemnify and save harmless the Landlord and keep the Landlord indemnified against all costs, losses, damages, claims, expenses and liabilities of whatever kind (including legal fees and expenses on a full indemnity basis) arising out of or relating to any failure by the Tenant and/or the Indemnifier to pay all Rent, monies, charges and other amounts of any kind whatsoever payable under the Lease in a timely manner and/or resulting from any failure by the Tenant to keep, observe, fulfill or perform any of the Covenants in a timely and complete manner and/or resulting from any failure by the Indemnifier to keep, observe, fulfill or perform any of each and every one of the terms, conditions, indemnities, liabilities, agreements, commitments, covenants or obligations hereunder to be kept, fulfilled, observed and performed from time to time.
2. The Indemnifier’s covenants and agreements set out herein will not be affected by: (a) the Lease being Disclaimed and/or otherwise deemed unenforceable; (b) by any other event or occurrence which would have the effect at law or equity of terminating or reducing any of the Covenants prior to the expiration of the full Term and any extensions or renewals thereof and/or overholding of all or part of the Property (save and except for a termination of the Lease by the Tenant in accordance with Sections 9.1.3 or 9.1.6.3 or Exhibit E-3 of the Lease); (c) the enforcement of the Landlord’s rights and remedies pursuant to the Lease, at law or equity, whether pursuant to court proceedings or otherwise; and/or (d) the surrender of the Lease to which the Landlord has not provided its prior written consent in the Landlord’s sole, absolute and unfettered discretion and/or which is expressly permitted pursuant to Sections 9.1.3 and 9.1.6.3 or Exhibit E-3 of the Lease (all of which items (a), (b), (c) and (d) above are referred to collectively and individually in this Indemnity Agreement as an “Unexpected Termination”), and the occurrence of any such Unexpected Termination shall not reduce the period of time in which the Indemnifier’s terms, conditions, indemnities, liabilities, agreements, commitments, covenants and obligations hereunder apply, which period of time includes, for greater certainty, that part of the Term and any exercised extensions or renewals thereof and/or overholding of all or part of the Property which would have followed had the Unexpected Termination not occurred.
3. Each of this Indemnity Agreement, the Indemnifier’s terms, conditions, indemnities, liabilities, agreements, commitments, covenants and obligations and the rights and remedies of the Landlord hereunder are absolute and unconditional and none of the foregoing shall be prejudiced, waived, released, discharged, mitigated, impaired or affected by: (a) any waiver by or failure of the Landlord to enforce any of the terms, conditions, indemnities, liabilities, agreements, commitments, covenants and/or obligations contained herein and/or the Covenants; (b) any Transfer of the Lease and/or the Property in whole or in part by the Tenant, a Transferee or by any secured creditor, trustee, receiver, manager, receiver and manager, interim receiver, coordinator, liquidator, monitor or any other authority having jurisdiction over entity or by operation of law or otherwise; (c) any consent which the CenterLandlord gives to any such Transfer; (d) the disaffirmance, disclaimer, resiliation, repudiation, disavowal, rejection, termination (iiisave and except for a termination of the Lease by the Tenant in accordance with Sections 9.1.3 or 9.1.6.3 or Exhibit E-3 of the Lease), cancellation and/or unenforceability of the Lease by the Tenant or any Transferee, or by any secured creditor, trustee, receiver, manager, receiver and manager, interim receiver, coordinator, liquidator or monitor of the Tenant or of any Transferee or by operation of law or otherwise by law or equity; (e) cause an increase in the premiums for fire insurance then covering expiration of the Buildings over that payable Term with respect to comparable first-class office buildings those terms and provisions of the Lease that survive such expiration of the Term; (f) any extension of time, waivers, indulgences, neglect, delay, forbearance or theaters, modifications which the Landlord extends to or (iv) result in insurance companies of good standing refusing to insure makes with the Buildings Tenant or any property therein other entity in amounts respect of the performance of any of the Covenants by the Tenant or any other entity; (g) any amendment, supplement, extension, renewal, amendment and against risks as reasonably determined restatement, restatement, replacement and/or Transfer from time to time with or without the Indemnifier’s knowledge or consent; (h) any Unexpected Termination; (i) any overholding by Landlordof all or part of the Property; and/or (j) any release or reduction in the Covenants of the Tenant or any other entity.
4. The Indemnifier hereby expressly waives notice of the acceptance of this Indemnity Agreement and all notice of non-performance, non-payment or non-observance on the part of the Tenant of the Covenants. Without prejudicing the foregoing, any notice which the Landlord elects to give to the Indemnifier shall be sufficiently given if delivered to the Indemnifier in accordance with the Lease. Upon a minimum of ten (10) Business Days prior notice in writing, the Indemnifier may designate a substitute address in Canada or telecopy number or e-mail address for that set forth in the Lease and thereafter notice shall be directed to such substitute address, telecopy number or e–mail address.
5. If an Event of Default occurs, the fire insurance premiums increase as a result Indemnifier waives all rights (if any) to require that the Landlord: (a) proceed against the Tenant or any other entities or pursue any rights or remedies against the Tenant or any other entity; (b) proceed against or exhaust any security or other recourse of Tenant’s failure to comply with or against the provisions of this ArticleTenant or any other entity (including any other person having, Tenant shall promptly cure such failure and shall reimburse Landlord for in any manner, guaranteed and/or assumed 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 Covenants or granted an indemnity in connection therewith); and/or (c) pursue any other right or remedy whatsoever in the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided power. The Landlord has the right to enforce this Indemnity Agreement regardless of the acceptance of additional security from the Tenant pays such increased premium, or other entities and regardless of any release or discharge of the 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 other entities by the appropriate Fire Insurance Rating Organization, Landlord or other body fixing such fire insurance rates, shall be conclusive evidence by others or by operation of the fire insurance rates then applicable to the Buildingsany law.
Appears in 1 contract
Samples: Lease Agreement (Equinix 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 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
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 special form coverage insuring Landlord (and such others as Landlord may designate) against loss from physical damage to Building 3, with coverage of not cause or permit or suffer any action or condition that would 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 (i) invalidate or conflict with shall 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 shall 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 may be endorsed to cover loss or damage caused by any additional perils against which Landlord may elect to insure, including boiler and machinery insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaterslimits sufficient to restore Building 3, or 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 (12) 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 with or within the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory Leased Premises. Landlord shall use commercially reasonable efforts to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of obtain such insurance at competitive rates.
(b) 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 Ten Million Dollars ($10,000,000). Landlord may carry such separate greater coverage as Landlord or Landlord’s Lender, insurance carrier. In any action broker, advisor or proceeding counsel may from time to which time determine is reasonably necessary for the adequate protection of 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. Subject to Section 6.1(d), Landlord shall procure and maintain policies of insurance, insuring:
(a) Landlord and Tenant against breakage of all plate glass utilized in the improvements on the Leased Premises.
(b) The improvements at any time situated upon the Leased Premises against loss or damage by fire, lightning, wind storm, hail storm, aircraft, vehicles, smoke, explosion, riot or civil commotion as provided by the Standard Fire and Extended Coverage Policy and all other risks of direct physical loss as insured against under Special Form (‘all risk’ coverage). The insurance coverage shall be for not cause or permit or suffer any action or condition less than 100% of the full replacement cost of such improvements with agreed amount endorsement, and building ordinance coverage. The full replacement cost of improvements shall be designated annually by Landlord, in the good faith exercise of Landlord’s judgment. In the event that would (i) invalidate or conflict Tenant does not agree with Landlord’s designation, Tenant shall have the right to submit the matter to an insurance policies which contemplate appraiser reasonably selected by Landlord and paid for by Tenant. The insurance appraiser shall submit a live entertainment use written report of his appraisal and if said report discloses that the improvements are not insured as therein required, Tenant shall promptly obtain the insurance required. Landlord shall be named as the insured and all proceeds of insurance shall be payable to Landlord. Said insurance shall contain an endorsement waiving the insurer’s right of subrogation against any Landlord Protected Party or any Tenant Protected Party, provided that such waiver of the right of subrogation shall not he operative in any case where the effect thereof is to invalidate such insurance coverage or increase the cost thereof (except that either party shall have the right, within thirty (30) days following written notice, to pay such increased cost, thereby keeping such waiver in full force and effect).
(c) Flood or earthquake insurance whenever, in the reasonable judgment of Landlord, such protection is necessary or if such insurance is required by Landlord’s Lender.
(d) Landlord’s business income, protecting Landlord from loss of rents and other charges during the period while the Leased Premises are untenantable due to fire or other casualty (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 period 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 1 contract
Landlord’s Insurance. Tenant 20.1 Landlord shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s maintain property insurance policies which contemplate a live entertainment use for the Music HallProperty. The term "lnsurance Premiums" shall mean the total annual insurance premiums which accrue on all property insurance, boiler insurance, public liability and property damage insurance, rent insurance, and any other insurance which, from time to time, may, at Landlord's election, be carried by Landlord with respect to the Building, the Property and/or the Campus during any applicable calendar year (iior portion thereof.l occurring during the term of this Lease; provided, however, rn the event, during any such calendar year, all or any part ofsuch coverage is written r.rnder a "blanket policy" or otherwise in such manner that Landlord was not charged a specific insurance premium applicable solely to the Building, the Property and/or the campus then in such event, the amount considered to be the Insurance Premium with respect to such coverage for such calendar year, shall be that amount which would have been the annual Insurance premium payable under the rates in effect on the first day of such applicable calendar year for a separate New Hampshire Standard Form insurance policy generally providing such type and amount of coverage (without any deductible amount) violate applicable ruleswith respect to the Building, regulations the property andior the Campus (considering the type ofconstruction and guidelines other relevant matters), irrespective of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over fact that Landlord did not actually carry such type policy. In the Center, (iii) event that Tenant'i activities in the Leased Premises cause an increase in the premiums for fire insurance Landlord's Insurance Premiums, then covering the Buildings over that payable with respect such increase due 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 Tenant's use shall be paid by Tenant upon demand from Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this ArticleIn addition, Tenant shall promptly cure such failure and shall reimburse Landlord pav 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 any repairs 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 modification to the BuildingsBuilding in order to make the Building insurable.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Faro Technologies Inc)
Landlord’s Insurance. A. Tenant shall pay to Landlord during each rental year or partial rental year its prorated share of the total fire, extended coverage and public liability insurance premiums charged to Landlord for insuring the building complex, and any improvements thereon, for any such year. For any partial lease year of the term hereof, such amount shall be further prorated on a time basis. Tenant's prorated share shall mean a fractional portion of said total insurance premiums, the numerator of which shall be the floor area of the premises and the denominator of which shall be the floor area of all leasable area of the building complex. Payment hereunder shall be made within thirty (30) days after receipt of a written statement from Landlord setting forth the amount of such share of insurance premiums together with reasonable proof of payment thereof by Landlord. Said are payable as and constitute additional rental. The Tenants' annual insurance contribution will be collected on a monthly basis but will be divided by Ten (10) in order to allow for the insurance company's advance collection of premiums. Tenants' excess contributions to annual insurance, if any, will be credited at the end of the term. If Tenants' contribution of insurance have not fully paid its proportionate share, the amount so due and owing shall be paid by the Tenant to the Landlord at the end of the term.
B. Tenant shall not cause or permit do 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 theatersbe done, or (iv) result in keep or suffer to be kept, anything in, upon or about the premises which shall contravene Landlord's policies of hazard or liability insurance or which will prevent Landlord from procuring such policies of companies of good standing refusing acceptable to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If anything done, omitted to be done or suffered by Tenant to be kept in, upon or about the premises shall cause the rate of fire or other insurance premiums increase as a result on the premises or the building complex or on other property of Tenant’s failure Landlord or of others within the retail center to comply with be increased beyond the provisions of this Articleminimum rate from time to time applicable to the premises or the building complex, or to any such property for the use or uses made thereof, Tenant shall promptly cure pay, as additional rental, the amount of any such failure and shall reimburse Landlord for the increased fire insurance premiums paid increase upon Landlord's demand, notwithstanding that what is done or kept 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 Buildingspermitted under this lease.
Appears in 1 contract
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 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.
Appears in 1 contract
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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Landlord’s Insurance. Tenant (a) The Landlord shall, during the Term and any renewal thereof, take out and maintain in full force and effect insurance against all risks of physical loss or damage to the Building, and such fixtures and improvements as the Landlord shall determine, including the perils of flood and earthquake and including business interruption or loss of rental income insurance, in amounts equal to the full insurable value thereof, calculated on a replacement cost basis, and subject to such deductibles as the Landlord may reasonably determine. Provided however, the full insurable value shall not cause include, and the insurance shall not cover, any property of the Tenant, whether owned by the Tenant or permit held by it in any capacity, nor leasehold improvements whether made by or suffer on behalf of the Tenant. The Landlord shall, upon thirty (30) days' written notice from the Tenant, advise the Tenant of the amount of the deductible referred to in this subparagraph 6.3 (a).
(b) The Landlord shall, upon written request by the Tenant, provide the Tenant with evidence from time to time that such insurance has been effected.
(c) The Landlord may, but shall not be obligated to, take out and carry any action other form or condition that would forms of insurance as the Landlord or the Landlord's Mortgagees may consider advisable or beneficial, including, without limiting the foregoing comprehensive liability insurance and boiler and machinery insurance.
(id) invalidate Notwithstanding any contribution by the Tenant to any Insurance Costs as provided for herein, no insurable interest shall be conferred upon the Tenant under policies carried by the Landlord.
(e) The Landlord hereby agrees to release and relieve the Tenant and those persons for whom the Tenant is in law responsible, from liability and responsibility for, and waives its claim for recovery of any loss or conflict with Landlord’s damage arising out of or incident to the occurrence of any of the perils covered by the insurance policies which contemplate a live entertainment use for the Music HallLandlord is obligated to obtain and maintain in force under subparagraph 6.3(a), (ii) violate applicable rules, regulations and guidelines except to the extent that any such loss or damage is caused by the negligence of the Fire DepartmentTenant or by those persons for whom the Tenant is, Fire Insurance Rating Organization or any other authority having jurisdiction over the Centerin law, (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 Tenantresponsible, provided however that Landlord this release and waiver shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant be limited to cure such failure and continue to operate the Premises for respective amounts which 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 entitled to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of recover under 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
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: Lease Agreement (Griffin Capital Essential Asset REIT II, 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
Samples: Office Space Lease (Cardionet 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 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 business projects in the area: “all risk” property insurance, subject to standard exclusions covering the Building and the Project, and commercial general liability coverage in amounts of not less than Two Million Dollars ($2,000,000.00) on an “occurrence” basis. 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 and flood (provided, however, that the cost of earthquake and flood 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 elects or is required to provide insurance hereunder; provided, provided furtherhowever, that in the event that Landlord transfers its fee interest in the Project including the Premises (A) other than to an entity affiliated with, controlled, controlling or under common control with Landlord’s insurance carrier refuses to provide certain insurance as , or in which Landlord retains an interest), such transferee shall demonstrate a result financial net worth of Tenant’s failure to comply with at least One Hundred Million Dollars ($100,000,000.00), 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, 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 1 contract
Samples: Sublease Agreement (Palm 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 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. 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: Lease Agreement (Evivrus, Inc.)
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
Samples: Lease Agreement (Movado Group Inc)
Landlord’s Insurance. Landlord shall provide and keep in full force and effect throughout the Lease Term the following insurance and Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlordpay, as Additional Rent, Tenant’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines Prorata Share 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 cost of such insurance then covering the Buildings over that payable pursuant to Section 7.3:
13.4.1 Commercial general liability insurance with respect to comparable first-class office buildings Landlord’s operation of the Building, for bodily injury or theatersdeath, or (iv) result in insurance companies and for damage to property of good standing refusing to insure the Buildings or any property therein in amounts and against risks others, with policy limits as reasonably determined by Landlord or as required by Landlord. If the fire ’s mortgagee.
13.4.2 Fire and casualty insurance premiums increase with extended coverage endorsements in such reasonable amounts and with such reasonable deductibles 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 or as a result of such failure required 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 mortgagee.
13.4.3 Such other insurance premium, then provided on the Building or the Project as Landlord reasonably deems advisable. No insurable interest is conferred upon Tenant pays such increased premium, under any policies of insurance carried by Landlord and Tenant shall not be required entitled to cease such action so long as share or receive any proceeds of any insurance policy carried by Landlord. Landlord is authorized to adjust and compromise any loss without the increased premium is consent of Tenant, to collect, receive and receipt for any insurance proceeds on behalf of Landlord and all tenants in the only effect Building and to endorse Tenant’s name upon any check in payment of such failure and, provided further, proceeds in the event Tenant’s name is listed thereon. Landlord’s obligations to carry the insurance provided for herein may be brought within the coverage of any so-called blanket policy or policies of insurance carried and maintained by Landlord, provided that (A) the coverage afforded will not be reduced or diminished by reason of the use of such blanket policy of insurance. Landlord’s insurance carrier refuses to provide certain insurance as a result of shall not cover 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 insuranceProperty, Tenant shall pay any increased cost payable tenant improvements constructed 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 Organizationat Tenant’s expense, or other body fixing such fire Alterations. Landlord, at its option, may carry rental interruption insurance rates, shall be conclusive evidence of the fire insurance rates then applicable in amounts equal to the BuildingsTenant’s Rent for twelve (12) months under this Lease.
Appears in 1 contract
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
Landlord’s Insurance. The Landlord will, without limiting its obligations or liabilities herein and at its own expense, provide and maintain the following insurances with insurers licensed in British Columbia or Canada and in forms and amounts acceptable to the Tenant:
(a) “all risks” property insurance, including earthquake coverage if such coverage is available at a cost that a prudent owner would pay therefore, and coverage for sprinkler leakage and other water damage, on the Building (including the Tenant shall Improvements) in an amount that is not cause less than the full replacement cost of the Building, together with boiler and machinery insurance (which will include loss of use and loss or permit damage caused by rupture of steam pipes) in respect of all boilers and other pressure vessels within or suffer any action or condition that would forming part of the Building, in such amounts and with such deductibles as are normally effected by reasonably prudent owners of properties similar to the Building (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hallpurposes of this paragraph, (ii) violate applicable rulesreplacement cost will be determined by the Landlord acting reasonably at the time the insurance is initially obtained and will thereafter be determined by the Landlord at least once every 12 months, regulations and guidelines the Landlord will promptly notify the Tenant in writing of each such determination, it being the intention of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase parties that in the premiums event of any damage or destruction to the Building, sufficient insurance funds will be available to repair or rebuild the Building, including increased costs due to the then applicable Building Codes and authorities having jurisdiction. Each and every policy of property insurance maintained by the Landlord will provide for fire a waiver of the insurer's right of subrogation against the Tenant and its subtenants and licensees and those for whom each of the Tenant and its subtenants and licensees is or are responsible in law; and
(b) Commercial General Liability in an amount not less than $3,000,000 inclusive per occurrence insuring against bodily injury, personal injury, property damage and liability assumed under contract. The Tenant is to be an additional insured under this insurance then covering and this insurance will be endorsed to provide the Buildings over that payable Tenant with respect 30 days advance written notice of cancellation or material change. This insurance must include a cross liability and severability of interest clauses. All the foregoing insurance will be primary and not require the sharing of any loss by any insurer of the Tenant. The Landlord will provide the Tenant with evidence of all required insurance prior to comparable first-class office buildings or theatersthe commencement of the services, or (iv) result in insurance companies of good standing refusing and from time to insure time as requested by 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 form of a result completed Province of Tenant’s failure to comply with the provisions British Columbia Certificate 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 Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued When requested by the appropriate Fire Insurance Rating OrganizationTenant, or other body fixing such fire the Landlord will provide certified copies of required insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildingspolicies.
Appears in 1 contract
Samples: Lease Agreement
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. 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 special form coverage 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.
(b) 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 Ten Million Dollars ($10,000,000). 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
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)
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 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 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Samples: Lease (Trident Microsystems 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 to 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Samples: Lease Agreement (Webex 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: Office Space Lease (Clearpoint Business Resources, 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. 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.
(b) 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 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Samples: Lease Agreement (Silicon Image 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
Samples: Lease Agreement (American Residential Investment Trust 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. 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. 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. the Landlord shall take out or cause to be taken out and keep or cause to be kept in full force and effect:
(a) standard fire, extended coverage, riot, vandalism, and malicious mischief insurance, on the buildings and improvements located on the Property, on a replacement cost basis, in an amount such as would be carried by a prudent owner, subject to such deductions and exceptions as the Landlord may determine; such insurance shall be in a form or forms normally in use from time to time for buildings and improvements of a similar nature similarly situated, including, should the Landlord so elect, insurance to cover any loss of rental income which may be sustained by the Landlord;
(b) boiler and machinery insurance on such boilers and pressure vessels as may be installed by, or under the exclusive control of, the Landlord on the Property (other than such boilers and pressure vessels to be insured by the Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with hereunder); The Landlord’s 's and Tenant's insurance policies which contemplate shall contain a live entertainment use for waiver by the Music Hall, (ii) violate applicable rules, regulations and guidelines insurer of the Fire Department, Fire Insurance Rating Organization any rights of subrogation or indemnity or any other authority having jurisdiction claim over which such insurer might otherwise be entitled against the Center, (iii) cause an increase Landlord/Tenant and for those for whom in law they are responsible. Provided that nothing herein shall prevent the premiums for fire insurance then covering Landlord from providing or maintaining such broader coverage as 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 LandlordLandlord may determine. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, The Tenant shall promptly cure such failure and shall reimburse pay to the Landlord for as Additional Rent the increased fire Tenant's Proportionate Share of insurance premiums paid by Landlord as a result the Landlord. The Landlord's Proportionate Share shall be calculated on the basis set out under Section 1.02 of such failure by Tenant, this Lease provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate if the Leased Premises for are insured separately from any other premises located on the Permitted Uses and Property 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 to the Landlord by reason of its purchase of such as Additional Rent the full 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 premiums paid by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence Landlord in respect of the fire insurance rates then applicable to the BuildingsLeased Premises.
Appears in 1 contract
Landlord’s Insurance. Tenant Throughout the Term, Landlord shall maintain property insurance on the Building (including, without limitation, the Lobby/Branch Space Work and the Office Space Work) 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 80% of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, full insurable replacement cost (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) of the Building insuring against loss or damage by fire and such other risks as are covered by the current ISO Special Form policy. If Throughout the fire Term, Landlord shall also maintain Commercial General Liability Insurance applicable to the Property (including, without limitation, the Building and the Premises) and its appurtenances providing, on an occurrence basis, a minimum combined single limit of Two Million Dollars ($2,000,000.00), with a contractual liability endorsement covering Landlord's indemnity obligations under this Lease. Landlord may maintain the insurance premiums increase required in this Article in whole or in part under blanket policies, provided such insurance shall be made specifically applicable to the Building on a "per location" basis. The cost of such insurance shall be included as a result part of Tenant’s failure the Basic Costs, and payments for losses and recoveries thereunder shall be made solely to comply with Landlord or the provisions Mortgagees of Landlord as their interests shall appear. Any company writing any insurance that Landlord is required to maintain or cause to be maintained pursuant to the terms of this Article, Tenant Lease shall promptly cure such failure have a Best Rating of "A-" or better and shall reimburse be licensed or approved to do business in the state in which the Premises in located. Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure shall, within fifteen (15) days after request 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 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 Landlord's insurance rates then applicable in form and substance reasonably acceptable to the BuildingsTenant. The limits of Landlord's insurance shall in no event limit Landlord's liability under this Lease.
Appears in 1 contract
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 Agreement (Nexx Systems Inc)
Landlord’s Insurance. Tenant Landlord shall not cause provide the following types of insurance, with 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 without deductible 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 coverages as may be reasonably determined by LandlordLandlord (unless the coverage to be obtained is herein specified, in which case such specified coverage shall be provided): property insurance, subject to standard exclusions (such as, but not limited to, earthquake and flood exclusions), covering the full replacement cost of the Building including all Tenant Improvements constructed pursuant to the Work Letter within the Premises (the “Property Policy”). If the fire In addition, Landlord may, at its election, obtain insurance premiums increase for such other risks as a result of Tenant’s failure Landlord or its mortgages may from time to comply with the provisions of this Articletime deem appropriate in its sole discretion, including without limitation, coverage for Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid Improvements constructed by Landlord as a result of such failure by Tenantpursuant to the Work Letter attached hereto, provided that and for earthquake, flood, and commercial general liability. 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 elects or is required to provide insurance hereunder; provided, provided furtherhowever, that in the event that The Irvine Company (Aor any entity affiliated with, controlling, controlled by or under common control with The Irvine Company) is no longer the “Landlord’s insurance carrier refuses ” under the Lease, any successor Landlord shall demonstrate a reasonably sufficient net worth in order to provide certain insurance as a result of Tenant’s failure continue 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 self-insure 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 Buildingsrisks.
Appears in 1 contract
Samples: Lease (AutoTrader Group, Inc.)
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 shall not cause or permit or suffer any action or condition that would To pay the Tenant's Proportionate Share of all premiums with respect to insurance to be placed by the Landlord and described as follows:
(i) invalidate or conflict with Landlord’s All-risk insurance policies which contemplate a live entertainment use for the Music Hall, full replacement value of the Building and any improvements and equipment thereon which are the property of the Landlord;
(ii) violate applicable rulesInsurance against loss of rental income and rental value attributable to all perils insured against by the Landlord or commonly insured against by prudent landlords, regulations and guidelines including all loss of Rent receivable from the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase Building 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 accordance with the provisions of this ArticleLease, Tenant in such amount or amounts as the Landlord or mortgagees from time to time require;
(iii) Insurance protecting the Landlord against claims for personal injury, death, property damage, or third party or public liability claims arising from any accident or occurrence upon the Building or the Lands, from any cause in an amount that the Landlord within its sole discretion shall promptly cure such failure and shall reimburse Landlord determine for the increased fire insurance premiums paid by Landlord as a result personal injury, death, property or other claims in respect of such failure by Tenantany one accident or occurrence;
(iv) Plate glass insurance, provided that the Tenant shall also pay to the Landlord the amount of any loss in respect of the plate glass in the Building which is a deductible amount under such plate glass insurance coverage and provided further that the Tenant may elect to waive plate glass insurance in which event the Tenant shall furnish reasonable supporting documentation therefor. If be responsible for and shall pay to the Landlord the amount of any loss in respect of the plate glass in the Building; and
(v) Such other insurance as it is not practicable or may become customary for Tenant owners of property to cure such failure and continue carry for loss of or damage to operate the Premises for Building or the Permitted Uses and the only result of such failure is an increase in Landlord’s Lands or liability arising therefrom, specifically including any 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 the introduction by 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 behalf of the fire Tenant or its subtenants of radio-active materials or substances into the Building or onto the Lands. The Tenant may inspect the policies of insurance rates then applicable pertaining to the Buildingsinsurance placed under this paragraph.
Appears in 1 contract
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 follows, with such other terms, coverages and insurers, as Landlord shall reasonably require from time to time:
(1) Commercial General Liability Insurance, including contractor’s liability coverage, contractual liability coverage, completed operations coverage, broad form property damage endorsement, and contractor’s protective liability coverage, to afford protection with limits, for each occurrence, of Tenantnot less than One Million Dollars ($1,000,000) with respect to personal injury, death or property damage.
(2) Workers’ compensation or similar insurance in form and amounts required by law, and Employer’s failure to comply Liability with not less than 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.following limits: Each Accident $500,000 Disease—Policy Limit $500,000 Disease—Each Employee $500,000
Appears in 1 contract
Samples: Lease (Deltagen 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. 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: Office and Cafeteria Lease (BioMed Realty Trust 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 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 (6) 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 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 increased premium use or occupancy of the Property, or any portion thereof with combined single limit coverage of at least Five Million Dollars ($5,000,000). 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Samples: Lease (Digital Island 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 special form coverage insuring Landlord (and such others as Landlord may designate) against loss from physical damage to Building 4, with coverage of not cause or permit or suffer any action or condition that would 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 (i) invalidate or conflict with shall 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 shall 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 may be endorsed to cover loss or damage caused by any additional perils against which Landlord may elect to insure, including boiler and machinery insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaterslimits sufficient to restore Building 4, or 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 (12) 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 with or within the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory Leased Premises. Landlord shall use commercially reasonable efforts to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of obtain such insurance at competitive rates.
(b) 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 Ten Million Dollars ($10,000,000). Landlord may carry such separate greater coverage as Landlord or Landlord’s Lender, insurance carrier. In any action broker, advisor or proceeding counsel may from time to which time determine is reasonably necessary for the adequate protection of 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. 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 ninety percent 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 requirement 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; (iv) result may provide coverage for loss of rents for a period of up to twelve months; and/or (v) may contain “deductibles” not exceeding One Thousand Dollars per occurrence (or up to five percent of the Building’s replacement value in insurance companies the case of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordearthquake and/or flood insurance). 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.
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 Project, 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 Landlord and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to the Project.
C. Landlord is willing to provide such may maintain any other insurance, Tenant shall pay any increased cost payable by Landlord by reason which in the opinion of its purchase of such insurance from such separate insurance carrier. In any action broker or proceeding advisor or legal counsel is prudent to which Landlord and Tenant are parties, a schedule or “make up” of rates for carry under 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 Buildingsgiven circumstances.
Appears in 1 contract
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 hereof and against loss of rents for a period of not less than 12 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 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 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 to 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
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. 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. 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 1 contract
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 special form coverage 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.
(b) 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 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 reasonable opinion of its purchase of insurance broker, advisor or legal counsel is prudent to carry under the given circumstances, provided such insurance from such separate insurance carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
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 ninety percent 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 requirement 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; (iv) result may provide coverage for loss of rents for a period of up to twelve months; and/or (v) may contain "deductibles" not exceeding One Thousand Dollars per occurrence (or up to five percent of the Building's replacement value in insurance companies the case of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordearthquake and/or flood insurance). 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.
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 Project, 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 only effect adequate protection of such failure and, provided further, Landlord and the Project.
C. Landlord may maintain any other insurance which 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 opinion of its purchase of such insurance from such separate insurance carrier. In any action broker or proceeding advisor or legal counsel is prudent to which Landlord and Tenant are parties, a schedule or “make up” of rates for carry under 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 Buildingsgiven circumstances.
Appears in 1 contract
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 knowingly -------------------- permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s 's insurance policies, provided such policies contain terms which contemplate a live entertainment use for the Music Hallare customarily applicable to Comparable Buildings, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the CenterRequirements, (iii) cause an increase in the premiums for of fire insurance then covering the Buildings Building over that payable with respect to comparable first-class office buildings or theaters, Comparable Buildings or (iv) result in insurance companies of good standing refusing to insure the Buildings Building or any property therein the Land in amounts and against risks as reasonably determined by LandlordLandlord and which are customarily applicable to Comparable Buildings. If the fire insurance premiums increase as a result of Tenant’s 's failure to comply with the provisions of this ArticleArticle 9, Tenant shall promptly cure such failure and --------- shall reimburse Landlord Landlord, as Additional Rent, 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 Building issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive presumptive evidence of the fire insurance rates then applicable to the BuildingsBuilding. Landlord represents that, to Landlord's knowledge as of the date hereof, use of the Building for the Permitted Uses will not increase the rate of fire or other insurance on the Building.
Appears in 1 contract
Samples: Deed of Lease (Verisign Inc/Ca)
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 on a “special cause of loss” 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 may be endorsed to cover loss or damage caused by any additional perils against which Landlord may elect to insure, including flood and, if required by Landlord’s Lender or investor or if otherwise customarily carried by landlords of comparable properties in the premiums for fire insurance then covering same geographic region as the Buildings over that payable with respect to comparable first-class office buildings or theatersProperty, or earthquake; 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, but shall cover the Improvement Work. 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 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 Landlord and the Property. Landlord may satisfy the requirements of this Article Paragraph 9.2(b) with a combination of primary and excess coverage.
(Bc) a separate Landlord may maintain any other insurance carrier of comparable rating which in Landlord’s opinion 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 such insurance from such separate insurance carrier. In any action broker, advisor or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for legal counsel is prudent in carry under 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 Buildingsgiven circumstances.
Appears in 1 contract
Samples: Office Lease (Cortina Systems 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 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: Sublease Agreement (Care.com Inc)
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: Lease Agreement (2U, Inc.)
Landlord’s Insurance. Tenant Subject to its general availability, the Landlord shall not cause or permit or suffer any action or condition that would effect and maintain during the Term:
(ia) invalidate or conflict with Landlord’s all risks" property 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 shall insure the Buildings Development (other than any Leasehold Improvements) on a full replacement cost basis against loss or any property therein damage by perils now or hereafter from time to time embraced by or defined in amounts a standard all risks insurance policy;
(b) boiler and machinery insurance on objects defined in a standard comprehensive boiler and machinery policy against risks accidents as reasonably determined by Landlord. If the fire defined therein;
(c) loss of rental income insurance premiums increase as a result of Tenant’s failure in an amount sufficient to comply with replace all Basic Rent and Additional Rent payable under the provisions of this ArticleLease for an indemnity period determined by the Landlord;
(d) comprehensive general liability insurance covering claims for personal injury and property damage arising out of all operations in connection with the management and administration of the Development; and
(e) such other coverage, or increases in the amount of coverage, as the Landlord may consider necessary. For greater certainty, the Tenant acknowledges that the Landlord is not obligated to insure Leasehold Improvements in the Premises. The insurance to be maintained by the Landlord shall be that which would be carried by reasonably prudent owners of properties similar to the Development, all as from time to time determined by insurance advisers selected by the Landlord, and whose opinion shall be conclusive. In the alternative, the Landlord shall have the option of self-insuring. Notwithstanding the above, the Tenant acknowledges that the Tenant shall promptly cure such failure remain responsible for its negligence and shall reimburse Landlord the negligence of all persons 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 whom it is not practicable for at law responsible and that no insurable interest is conferred upon the Tenant to cure such failure under any of the Landlord's insurance policies and continue to operate that 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 have no right to cease recover any proceeds thereunder or claim any right or title to 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 Buildingsproceeds.
Appears in 1 contract
Samples: Lease (E Cruiter 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 procure and maintain policies --------------------- of insurance insuring:
(i) invalidate All claims, demands or conflict actions made by or on behalf of any person or persons, firm or corporation including, without limitation, any Tenant Protected Party subject, however, to subsection 14(a) and arising from, related to or connected with the Property (other than the Premises and premises leased to other tenants), for bodily injury to or personal injury to or death of any person, or more than one (1) person, or for damage to property in an amount of not less than $3,000,000.00 combined single limit per occurrence/aggregate provided, however, Landlord shall not be required to indemnify or insure against any loss resulting from the intentional wrongful acts of any Tenant Protected Party. Said insurance shall be written on an "occurrence" basis and not on a "claims made" basis. If at any time during the term of this Lease, Landlord owns more than one location, the policy shall contain an endorsement to the effect that the aggregate limit in the policy shall apply separately to each location owned by Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, .
(ii) violate applicable rulesThe improvements at any time situated upon the Property (other than the contents of Premises and premises leased to other tenants) against loss or damage by fire, regulations lightning, wind storm, hail storm, aircraft, vehicles, smoke, explosion, riot or civil commotion as provided by the Standard Fire and guidelines Extended Coverage Policy and all other risks of direct physical loss as insured against under Special Form ("all risk") coverage. The insurance coverage shall be for not less than 90% of the Fire Department, Fire Insurance Rating Organization full replacement cost of such improvements with agreed amount endorsement. Landlord shall be named as insured and all proceeds of insurance shall be payable to Landlord or its mortgagee. Said insurance shall contain an endorsement waiving the insurer's right of subrogation against any other authority having jurisdiction over the Center, Tenant Protected Party.
(iii) cause an increase in Landlord's business income, protecting Landlord from loss of rents and other charges during the premiums period while the Premises are untenantable due to fire or other casualty (for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or period reasonable determined by Landlord).
(iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against Such other 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 1 contract
Samples: Lease Agreement (Yp Net 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 ninety percent 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 requirement 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; (iv) result may provide coverage for loss of rents for a period of up to twelve months; and/or (v) may contain “deductibles” not exceeding One Thousand Dollars per occurrence (or up to five percent of the Building’s replacement value in insurance companies the case of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlordearthquake and/or flood insurance). 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.
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 Project, 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 Landlord and (B) a separate the Project.
C. 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 such insurance from such separate insurance carrier. In any action broker or proceeding advisor or legal counsel is prudent to which Landlord and Tenant are parties, a schedule or “make up” of rates for carry under 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 Buildingsgiven circumstances.
Appears in 1 contract
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 properly 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" forth, 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 rulesmay provide coverage for physical damage to the improvements so insured for up to the entire full actual replacement cost thereof; (iii)may be endorsed to cover loss or damage caused by any additional perils against which Landlord may elect to insure, 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 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 Minion 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of properly similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Samples: Lease Agreement (Polycom Inc)
Landlord’s Insurance. (A) Subject to the terms of this Section 14.2, Landlord shall obtain and keep in full force and effect covering the Building, to the extent insurable on commercially reasonable terms under then available standard forms of "special causes of loss property" insurance policies, covering the perils listed in the current edition of the ISO special causes of loss form CP 10 30, including, without limitation, coverage for acts of terrorism (if such coverage for acts of terrorism is available on commercially reasonable terms), in an amount equal to one hundred percent (100%) of the replacement value thereof or, at Landlord's option, in such lesser amount as will avoid co-insurance (such insurance being referred to herein as "Landlord's Property Policy"). Tenant shall not cause or permit or suffer any action or condition acknowledges that would (i) invalidate or conflict with Landlord’s 's Property Policy may encompass rent insurance policies which contemplate a live entertainment use for the Music Hall, and (ii) violate applicable rules, regulations Landlord shall also obtain a commercial general liability insurance policy and guidelines may obtain other types 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 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 deemed necessary by Landlord as or a result of such failure by Tenant, Mortgagee; provided that Landlord shall furnish maintain at least such insurance coverage and in such amounts as are customarily maintained by owners of comparable office buildings in the vicinity of the Building.
(B) Landlord shall have the right to provide that the coverage of Landlord's Property Policy is subject to a reasonable supporting documentation therefordeductible. If it is not practicable Tenant shall cooperate with Landlord and Landlord's insurance companies in the adjustment of any claims for Tenant any damage 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 Building. Landlord shall not be required to cease such action so long as carry insurance on Tenant's Property, the increased premium is Alterations or the only effect of such failure and, provided further, interior installation existing in the event that (A) Landlord’s Premises on the Pre-Delivery Work Substantial Completion Date. Landlord shall not be required to carry insurance carrier refuses against any loss suffered by Tenant due to provide certain insurance as a result the interruption 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's business.
Appears in 1 contract
Samples: Lease (Clear Secure, 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 (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: Lease Agreement (Phase Forward 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
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; and/or (iii) cause an increase may be endorsed to cover loss or damage caused by any additional perils against which Landlord may elect to insure. Notwithstanding the foregoing, if Landlord elects to carry earthquake or flood insurance, Landlord may pass through to Tenant as a Property Operating Expense only reasonable premiums for such coverages if such coverages are available at commercially reasonable rates and purchased by other owners of similar properties in the area of the Leased Premises. Under no circumstances, however, shall Tenant be required to pay or reimburse to Landlord the amount of any deductibles for such coverages or for premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings flood 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 Landlordearthquake coverage exceeding $ 4,000 per year. 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 Two Million Dollars ($2,000,000). 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 carrier. In any action or proceeding to which Landlord is commonly carried by owners of property similarly situated 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 Buildingsoperating under similar circumstances.
Appears in 1 contract
Landlord’s Insurance. Tenant (a) 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 the Music Hall, (ii) violate applicable rules, regulations and guidelines provide all of the Fire Departmentfollowing types of 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 customary deductible and in amounts and against risks coverages as reasonably may be determined by LandlordLandlord in its reasonable discretion based on the types and amounts of insurance (and deductibles) being maintained by comparable landlords of Comparable Buildings: “all risk” property insurance, subject to standard exclusions, covering the Building and/or Project, loss of rent insurance, worker’s compensation insurance and commercial general liability coverage. 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 removable improvements or 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 elects to provide insurance hereunder.
(b) Notwithstanding the foregoing, however, Tenant may elect to carry the all-risk property insurance coverage on the Building, provided further, that the coverage (and the financial rating of the carrier) is in the event all material respects at least equivalent to that (A) being carried 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 . Tenant may exercise such election by written notice to Landlord is willing delivered prior to provide the date that Landlord purchases its annual property policy. All costs of that insurance shall be timely funded in full by Tenant, and Landlord shall be the named insured on that policy. Landlord shall have the right to review and approve any such policy based upon the foregoing criteria. Should Tenant elect to purchase such insurance, then the Site Costs allocated to Tenant shall pay not include any increased cost payable by Landlord by reason property insurance component for the Building or for any other buildings in the Project. For purposes of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are partiesthis subsection, a schedule or an “make upaffiliate” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating OrganizationLandlord shall mean any entity controlled by, controlling, or other body fixing such fire insurance ratesunder common control with The Irvine Company, shall be conclusive evidence or any entity succeeding to a substantial portion of the fire insurance rates then applicable to the Buildingscommercial property assets of The Irvine Company.
Appears in 1 contract
Samples: Lease (Broadcom Corp)