Common use of LESSEE'S CASUALTY INSURANCE OBLIGATIONS Clause in Contracts

LESSEE'S CASUALTY INSURANCE OBLIGATIONS. Lessee shall keep all of its machinery, equipment, furniture, fixtures and personal property (including also property under the care, custody, or control of Lessee) which may be located in, upon, or about the Premises insured for the benefit of Lessee in an amount equivalent to the full insurable value thereof against: (a) loss or damage by fire; and (b) such other risk or risks of a similar or dissimilar nature as are now, or may in the future be customarily covered with respect to a tenant's machinery, equipment, furniture, fixtures, personal property and business located in a building similar in construction, general location, use, occupancy and design to the Office Complex, including, but without limiting the generality of the foregoing, windstorms, hail, explosions, vandalism, theft, malicious mischief, civil commotion, and such other coverage as Lessee may deem appropriate or necessary. Lessee agrees that such policy or policies of insurance shall permit release of liability as provided herein and/or waiver of subrogation clause as to Lessor and Lessee waives, releases and discharges Lessor, its agents, employees, and contractors from all claims or demands whatsoever which Lessee may have or acquire arising out of damage to or destruction of the machinery, equipment, furniture, fixtures, personal property, and loss of use thereof occasioned by fire or other casualty, whether such claim or demand may arise because of the negligence or fault of Lessor, its agents, employees, contractors or otherwise, and Lessee agrees to look to the insurance coverage only in the event of such loss.

LESSEE'S CASUALTY INSURANCE OBLIGATIONS. (a) Lessee shall pay for, and reimburse Lessor for, the cost of insurance insuring the Office Complex for the benefit of Lessor (and its mortgagee) in an amount equivalent to the full replacement value thereof (excluding foundation, grading and excavation costs) (together with rental income insurance) against: (i) loss or damage by fire; and (ii) such other risk or risks of a similar or dissimilar nature as are now or may be customarily covered with respect to buildings and improvements similar in construction, general location, use, occupancy and design to the Office Complex, including, but without limiting the generality of the foregoing, windstorms, hail, explosion, vandalism, malicious mischief, civil commotion, and such other coverage as may be deemed necessary by Lessor, providing such additional coverage is obtainable and providing such additional coverage is such as is customarily carried with respect to buildings and improvements similar in construction, general location, use, occupancy and design to the Office Complex. These insurance provisions shall in no way limit or modify any of the obligations of Lessee under any provision of this Lease Agreement. Lessor and Lessee agree that such policy or policies of insurance shall permit releases of liability as provided herein and/or waiver of subrogation clause as to Lessee and Lessor respectively, and Lessor and Lessee each waive, release and discharge the other from all claims or demands whatsoever which such party may have or acquire arising out of damage to or destruction of the Office Complex or loss of use thereof occasioned by fire or other casualty, WHETHER SUCH CLAIM OR DEMAND MAY ARISE BECAUSE OF THE NEGLIGENCE OR FAULT OF LESSEE, LESSOR OR THEIR AGENTS, EMPLOYEES, CUSTOMERS, CONTRACTORS OR BUSINESS INVITEES, OR OTHERWISE, and Lessor and Lessee each agree to look to the insurance coverage only in the event of such loss. (b) Lessee shall keep all of its machinery, equipment, furniture, fixtures and personal property (including also property under the care, custody, or control of Lessee) which may be located in, upon, or about the Premises insured for the benefit of Lessee in an amount equivalent to the full insurable value thereof against: (ai) loss or damage by fire; and (bii) such other risk or risks of a similar or dissimilar nature as are now, or may in the future be customarily covered with respect to a tenant's machinery, equipment, furniture, fixtures, personal property and business located in a building similar in construction, general location, use, occupancy and design to the Office Complex, including, but without limiting the generality of the foregoing, windstorms, hail, explosions, vandalism, theft, malicious mischief, civil commotion, and such other coverage as Lessee may deem appropriate or necessary. Lessee agrees that such policy or policies of insurance shall permit release of liability as provided herein and/or waiver of subrogation clause as to Lessor and Lessee waives, releases and discharges Lessor, its agents, employees, and contractors from all claims or demands whatsoever which Lessee may have or acquire arising out of damage to or destruction of the machinery, equipment, furniture, fixtures, personal property, and loss of use thereof occasioned by fire or other casualty, whether such claim or demand may arise because of the negligence or fault of Lessor, its agents, employees, contractors or otherwise, and Lessee agrees to look to the insurance coverage only in the event of such loss.such