Common use of Lessee’s Insurance Clause in Contracts

Lessee’s Insurance. Lessee shall, at its sole cost and expense, obtain and maintain throughout the Term of this Lease, on a full replacement cost basis, “special form” insurance covering all of Lessee’s Property located on or within the Premises, and Lessor shall have no interest in any proceeds of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from and against any loss or damage occasioned by an accident or casualty on, about or adjacent to the Premises, including protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” basis, with limits of not less than $2,000,000.00 combined single limit coverage. All policies of liability insurance required to be carried by Lessee hereunder shall name Lessor and its property manager, if any, as additional insureds. To the extent such coverage is available, each such policy shall provide that same shall not be cancelled or materially modified without at least thirty (30) days’ prior written notice to Lessor and any mortgagee of Lessor. The limits of such insurance shall not, under any circumstances, limit the liability of Lessee under this Lease. In the event that Lessee fails to maintain any of the insurance required of it pursuant to this provision, Lessor shall have the right (but not the obligation) at Lessor’s election, after five (5) business days written notice to Lessee, to pay Lessee’s premiums or to arrange substitute insurance with an insurance company of Lessor’s choosing, in which event any premiums advanced by Lessor shall constitute Additional Rent payable under this Lease and shall be payable by Lessee to Lessor immediately upon demand for same.

Lessee’s Insurance. Lessee shall, at its sole cost and expense, obtain and maintain throughout the Term of this Lease, on a full replacement cost basis, “special form” insurance covering all of Lessee’s Property located on or within the Premises, and Lessor shall have no interest in any proceeds of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from against claims for personal injury, bodily injury, wrongful death and against any loss or property damage occasioned by an accident or casualty occurring on, in or about or adjacent Lessor's Property under policies and with companies reasonably acceptable to the PremisesLessor, including affording insurance protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” basis, with to limits of not less than One Million Dollars ($2,000,000.00 1,000,000.00) for combined single limit coveragewith respect to any one occurrence and Three Million Dollars ($3,000,000.00) in the aggregate for all occurrences within each policy year. All Lessee shall also maintain "all risk" or special form policies of liability property insurance required to covering the Facilities and any improvements of Lessee located on the Lessor's Property for the full replacement cost. Lessor, its managing agent, all mortgagees, and such other parties as Lessor may reasonably designate shall be carried by Lessee hereunder shall name Lessor and its property manager, if any, named as additional insuredsinsureds on each such policy pertaining to Lessor's Property and shall be furnished with a certificate thereof. To Each such policy of insurance shall, to the extent obtainable at no extra premium, provide: (a) that any claim shall be payable notwithstanding any act, whether of commission or omission, negligent or otherwise, of Lessor, of Lessee, of any other tenant or of any agent, employee, representative, visitor or guest of any of them, which act might otherwise result in the forfeiture of the insurance afforded by such coverage is availablepolicy, and (b) that Lessor shall not be liable to the insurer by reason of any payment by the insurer to Lessor, or any such other tenant. In addition, each such policy shall provide an agreement by the insurer that same shall the policy will not be cancelled canceled or materially modified to reduce coverage as to risk, amount or named insured without at least thirty fifteen (3015) days’ ' prior written notice to Lessor and any mortgagee of Lessor. The limits of such insurance shall not, under any circumstances, limit the liability of Lessee under this Lease. In the event that Lessee fails to maintain any of the insurance required of it pursuant to this provision, Lessor shall have the right (but not the obligation) at Lessor’s election, after five (5) business days written notice to Lessee, to pay Lessee’s premiums or to arrange substitute insurance with an insurance company of Lessor’s choosing, in which event any premiums advanced by Lessor shall constitute Additional Rent payable under this Lease mortgagees, and shall be payable by Lessee to Lessor immediately upon demand for sameall other named insureds.

Lessee’s Insurance. Lessee shall, at its sole cost and expense, obtain and maintain throughout the Term of this Lease, on a full replacement cost basis, “special form” insurance covering all of Lessee’s Property located on or within the Premises, and Lessor shall have no interest in any proceeds of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from against claims for personal injury, bodily injury, wrongful death and against any loss or property damage occasioned by an accident or casualty occurring on, in or about or adjacent Lessor's Property under policies and with companies reasonably acceptable to the PremisesLessor, including affording insurance protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” basis, with to limits of not less than Three Million Dollars ($2,000,000.00 3,000,000.00) for combined single limit coveragewith respect to any one occurrence and Five Million Dollars ($5,000,000.00) in the aggregate for all occurrences within each policy year. All Lessee shall also maintain "all risk" or special form policies of liability property insurance required to covering the Facilities and any improvements of Lessee located on the Lessor's Property for the full replacement cost. Lessor, its managing agent, all mortgagees, and such other parties as Lessor may reasonably designate shall be carried by Lessee hereunder shall name Lessor and its property manager, if any, named as additional insuredsinsureds on each such policy pertaining to Lessor's Property and shall be furnished with a certificate thereof. To Each such policy of insurance shall, to the extent obtainable at no extra premium, provide: (a) that any claim shall be payable notwithstanding any act, whether of commission or omission, negligent or otherwise, of Lessor, of Lessee, of any other tenant or of any agent, employee, representative, visitor or guest of any of them, which act might otherwise result in the forfeiture of the insurance afforded by such coverage is availablepolicy, and (b) that Lessor shall not be liable to the insurer by reason of any payment by the insurer to Lessor, or any such other tenant. In addition, each such policy shall provide an agreement by the insurer that same shall the policy will not be cancelled canceled or materially modified to reduce coverage as to risk, amount or named insured without at least thirty fifteen (3015) days’ ' prior written notice to Lessor and any mortgagee of Lessor. The limits of such insurance shall not, under any circumstances, limit the liability of Lessee under this Lease. In the event that Lessee fails to maintain any of the insurance required of it pursuant to this provision, Lessor shall have the right (but not the obligation) at Lessor’s election, after five (5) business days written notice to Lessee, to pay Lessee’s premiums or to arrange substitute insurance with an insurance company of Lessor’s choosing, in which event any premiums advanced by Lessor shall constitute Additional Rent payable under this Lease mortgagees, and shall be payable by Lessee to Lessor immediately upon demand for sameall other named insureds.

Lessee’s Insurance. Lessee shall, throughout the Term, at all its sole cost and expense including the expense, obtain of deductibles, procure and maintain throughout the Term of this Lease, following insurance on a full replacement cost basis, “special form” insurance covering all of Lessee’s Property located on or within the Premises, Candidate Vessel (and Lessor shall have no interest the Leased Equipment): (a) Hull and Machinery in any proceeds of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from and against any loss or damage occasioned by an accident or casualty on, about or adjacent to the Premises, including protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” basis, with limits of amount not less than $2,000,000.00 combined single 10,000,000; and (b) Protection and Indemnity risks (and any risks against which it is compulsory to insure for the operation of the Candidate Vessel, including without limitation, maintaining financial security in accordance with section 17 hereof, wreck removal expenses. pollution liability and for arising from the death or personal injury or from loss or damage to property with a minimum limit coverageof $1 billion applicable to any one accident or occurrence. All The aforementioned insurance policies of liability shall be in such form as Lessor shall in writing approve, which approval shall not be unreasonably withheld. The Hull and Machinery insurance required to be carried by Lessee hereunder policy shall name Lessor as an additional insured in respect of the Leased Equipment and its property managershall be endorsed; to be primary as to any insurance of Lessor; to waive subrogation against Lessor; Lessor’s officers, if any, as additional insureds. To the extent such coverage is available, each such policy shall agents and employees and to provide that same shall not be cancelled or materially modified without at least Lessor with thirty (30) days’ prior days advance written notice of cancellation, non-renewal or other material change in policy conditions. The insurance, shall name Lessor as a first loss payee as its interests may appear. The Protection and Indemnity insurance policy shall name Lessor as an additional insured and shall be endorsed; to be primary as to insurance of Lessor and to provide Lessor with thirty (30) days advance written notice of cancellation, non-renewal or other material change in policy conditions. Prior to delivery of the Leased Equipment, Lessee shall provide Lessor with certificates of insurance confirming its compliance with the foregoing. Should the Candidate Vessel become an actual, constructive, compromised or agreed total loss under the insurances required hereunder, Lessee shall pay to Lessor and any mortgagee of Lessor. The limits insurance monies received in respect of such loss according to its respective interest, inclusive of all lease payments due hereunder. Lessee shall notify Lessor of any occurrence in consequence of which the Candidate Vessel is likely to become a total loss as defined in this section. For the purpose of insurance shall notcoverage against hull and machinery and war risks under the provisions of this section, under any circumstances, limit the liability value of Lessee under this Leasethe Leased Equipment is the Total Lease Payments. In the event that Lessee fails to maintain any act or negligence of the Lessee, its employees, servants, or agents, shall vitiate any of the insurance required of it pursuant to this provision, herein provided. Lessee shall indemnify Lessor shall against all claims and demands which would have the right (but not the obligation) at Lessor’s election, after five (5) business days written notice to Lessee, to pay Lessee’s premiums or to arrange substitute insurance with an insurance company of Lessor’s choosing, in which event any premiums advanced otherwise been covered by Lessor shall constitute Additional Rent payable under this Lease and shall be payable by Lessee to Lessor immediately upon demand for samesuch insurance.

Lessee’s Insurance. (A) During Base Term, Lessee shallshall carry and maintain, at all times and at its sole cost and expense, obtain the following policies of insurance: (i) Commercial General Liability Insurance covering Premises and maintain throughout the Term of this LeaseLessee's use thereof against claims for personal injury or death, on a full replacement cost basisproperty damage and product liability occurring upon, “special form” insurance covering all of Lessee’s Property located on in or within the about Premises, and Lessor shall have no interest in any proceeds of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from and against any loss or damage occasioned by an accident or casualty on, about or adjacent to the Premises, including protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” occurrence basis (not a claims made basis), with to be in combined single limits amounts not less than $1,000,000 and to have general aggregate limits of not less than $2,000,000.00 combined single 3,000,000 for each policy year; (ii) Business Auto Liability covering owned, non-owned and hired vehicles with a limit coverage. All of not less than $1,000,000 per accident; (iii) insurance protecting against liability under Worker's Compensation Laws with limits at least as required by statute; and (iv) Broad form or Special Form insurance covering all of the items included in Lessee's leasehold improvements, heating, ventilating and air conditioning equipment, trade fixtures, merchandise and personal property from time to time in, on or upon Premises, in an amount not less than one hundred percent (100%) of their full replacement value (collectively, "Lessee's Insurance"). (B) The general aggregate limits under Lessee's Insurance policies must apply separately to Premises and to Lessee's use thereof (and not to any other location or use of liability insurance required to be carried by Lessee hereunder shall name Lessor Lessee) and its property manager, if any, as additional insureds. To the extent such coverage is available, each such policy shall contain an endorsement to that effect; provided, however, that Lessee shall have the right to carry the insurance provided above in the form of a blanket insurance policy, covering additional items or locations or insureds, provided, however, that: (i) Lessor, and any other parties in interest designated by Lessor to Lessee, from time to time, shall be named as additional insureds thereunder as its interests may appear; (ii) the coverage afforded Lessor and such other parties designated by Lessor will not be reduced or diminished by reason of use of such blanket policy of insurance; and (iii) any such policy shall provide, at a minimum, for the minimum liability limitations required in this Section 5.02 with respect to Lessee's interests in and to Premises. Lessee's Insurance shall, in addition, extend to any liability of Lessee arising out of the indemnities provided for in Article VI and, if necessary, shall contain a contractual endorsement to that effect. All such policies of Lessee's Insurance shall be issued in form acceptable to Lessor by insurance companies with a rating of not less than "A", if available, in the most current available "Best's Insurance Reports", and licensed to do business in the state in which Premises is located. (C) Each of the policies for Lessee's Insurance policies shall: (i) name Lessor, as well as any mortgagee of Lessor, as an additional insured; (ii) provide that same a certificate evidencing such insurance shall not be cancelled delivered to Lessor prior to possession of Premises by Lessee and thereafter within thirty (30) days prior to the expiration of each such policy, and, as often as any such policy shall expire or materially modified without terminate; (iii) contain a provision that the insurer will give to Lessor and such other parties in interest at least thirty (30) days’ prior days advance written notice in advance of any material change, cancellation, termination or lapse, or the effective date of any reduction in the amounts of insurance; and (iv) be written as a primary policy which does not contribute to and is not in excess of coverage which Lessor and any mortgagee may carry. Notwithstanding the provisions of Lessor. The limits of such insurance shall not, under any circumstances, limit the liability of Lessee under this Lease. In the event that Lessee fails to maintain any subparagraph (iii) of the insurance required of it pursuant to this provisionpreceding sentence, Lessee shall be responsible for providing Lessor shall have the right (but not the obligation) with at Lessor’s election, after least twenty-five (525) business days advance written notice to Lesseeof any material change, to pay Lessee’s premiums cancellation, termination or to arrange substitute insurance with an insurance company lapse, or the effective date of Lessor’s choosing, any reduction in which event any premiums advanced by Lessor shall constitute Additional Rent payable under this Lease and shall be payable by Lessee to Lessor immediately upon demand for samethe amount of insurance.

Lessee’s Insurance. 8.1.1 Lessee shall, at its sole cost and Lessee's expense, obtain and maintain throughout keep in force during the Term of this LeaseLease a policy of commercial general liability and property damage insurance insuring Lessee against any liability arising out of the use, on a full replacement cost basis, “special form” occupancy or maintenance of the Premises and the Common Areas. Such insurance covering all of Lessee’s Property located on or within the Premises, and Lessor shall have no interest in any proceeds limits of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from and against any loss or damage occasioned by an accident or casualty on, about or adjacent to the Premises, including protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” basis, with limits of not less than Five Million Dollars ($2,000,000.00 combined single limit coverage. All policies of liability insurance required to be carried by Lessee hereunder 5,000,000) per occurrence and shall name Lessor and its property manager, if any, as an additional insuredsinsured. To the extent such coverage is available, each such The policy shall provide that same shall not be cancelled or materially modified without at least thirty (30) days’ prior written notice contain contractual liability coverage applicable to Lessor and any mortgagee Lessee's obligations under the indemnity provision of Lessorthis Section 8. The limits and coverage of such insurance shall not, under any circumstanceshowever, limit the liability of Lessee under this Lease. In the event It is specifically acknowledged and agreed that Lessee fails to maintain any of the all liability insurance required of it pursuant to this provision, Lessor shall have the right (but not the obligation) at Lessor’s election, after five (5) business days written notice to Lessee, to pay Lessee’s premiums or to arrange substitute insurance with an insurance company of Lessor’s choosing, in which event any premiums advanced be provided by Lessor shall constitute Additional Rent payable under this Lease Lessee is and shall be payable considered primary and first to respond, and any liability insurance of Lessor is and shall be considered secondary to such insurance provided by Lessee. In addition to the obligations of Section 8.4 hereof, Lessee shall obtain and provide Lessor with evidence of a primary insurance endorsement indicating that Lessee has obtained such coverage. 8.1.2 Lessee at Lessee's expense, shall obtain and keep in force during the Term of this Lease a policy or policies of insurance covering loss or damage to Lessee's furniture, fixtures, equipment, inventory and other personal property located in or on the Premises, in an amount not less than the full replacement value thereof, as the same may exist from time to time, providing protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, flood (in the event the Building is located in a designated flood hazard area) special extended perils ("all risk," or "special" causes of loss as such terms are used in the insurance industry), and such other insurance coverages as Lessor immediately upon demand for samefrom time to time reasonably deems advisable.

Lessee’s Insurance. The Lessee shall, at its sole cost and expense, obtain and maintain shall throughout the Term take out, provide, maintain and keep in force: (a) fire insurance (including standard extended coverage endorsement perils and leakage from fire protective devices) in respect of the Lessee’s fixtures, furniture, equipment, inventory and stock in trade, the Lessee’s leasehold improvements to the extent that the Lessor has not elected to insure them pursuant to Section 14.1, and such other property in or forming part of the Leased Premises (not being property which the Lessor is bound to insure pursuant to Section 14.1) as the Lessor may from time to time require; (b) if any boiler or pressure vessel is operated by the Lessee in the Leased Premises, boiler and pressure vessel insurance with respect thereto; (c) business interruption and business loss insurance; (d) commercial general liability insurance applying to all operations of the Lessee and against claims for bodily injury, including death, property damage or loss arising out of the use or occupation of the Leased Premises, or the Lessee’s business on or about the Leased Premises. Insurance effected by the Lessee under this LeaseSection 14.2 shall be with insurers duly licensed to transact insurance in Alberta, shall be in amounts and on terms and conditions which are satisfactory to the Lessor, acting reasonably (and in the case of insurance under Section 14.2(a) and 14.2(b) shall be on a full replacement cost basis, “special form” basis and in the case of insurance covering all of Lessee’s Property located on or within the Premises, and Lessor under Section 14.2(d) shall have no interest in any proceeds of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from and against any loss or damage occasioned by an accident or casualty on, about or adjacent to the Premises, including protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” basis, with limits of not less than eight million dollars ($2,000,000.00 combined single limit coverage8,000,000.00) in respect of any one accident or occurrence), and shall be without subrogation against the Lessor and those for whom it is responsible in law. All At the request of the Lessor the Lessee shall file with the Lessor such copies of current policies of liability insurance or certificates or other proofs as may be required to be carried by Lessee hereunder shall name Lessor establish the Lessee’s insurance coverage in effect from time to time and its property managerthe payment of premiums thereon, and if any, as additional insureds. To the extent such coverage is available, each such policy shall provide that same shall not be cancelled or materially modified without at least thirty (30) days’ prior written notice to Lessor and any mortgagee of Lessor. The limits of such insurance shall not, under any circumstances, limit the liability of Lessee under this Lease. In the event that Lessee fails to maintain any of the insurance required of it pursuant to this provision, Lessor shall have the right (but not the obligation) at Lessor’s election, after five (5) business days written notice to Lessee, to insure or pay Lessee’s premiums or to arrange substitute file satisfactory proof thereof as so required, the Lessor may without notice to the Lessee effect such insurance with an insurance company of Lessor’s choosing, in which event and recover any premiums advanced by Lessor shall constitute Additional Rent payable under this Lease and shall be payable by paid therefor from the Lessee to Lessor immediately upon demand for sameon demand.

Lessee’s Insurance. The Lessee shallshall take out and keep in force during the Term: (a) commercial general liability insurance on an occurrence basis with respect to the Activities carried on, at its sole cost in or from the Building and expense, obtain and maintain throughout the Term of this Lease, on a full replacement cost basis, “special form” insurance covering all of Lessee’s Property located on or within the Premises, use and Lessor shall have no interest in any proceeds of such policy. In addition, Lessee shall obtain and maintain, at its sole cost and expense, commercial general public liability insurance providing coverage from and against any loss or damage occasioned by occupancy thereof with an accident or casualty on, about or adjacent to the Premises, including protection against death, personal injury and property damage. Such liability coverage shall be written on an “occurrence” basis, with limits initial limit of not less than $2,000,000.00 combined single limit coverage5,000,000 per occurrence, and thereafter in such amount as the Lessor may reasonably require, which insurance shall include the Lessor, its Board of Governors, employees and agents as additional insureds, shall include a cross liability clause and tenant’s legal liability insurance and shall provide primary coverage so that it shall not participate with, nor be excess over, any valid and collectable insurance carried by the Lessor, and (b) all risk property insurance on the leasehold improvements and Lessee Fixtures made by the Lessee, which insurance shall include a waiver of subrogation against the Lessor and shall name the Lessor as a loss payee as its interest may appear, but the Lessor agrees to make available any insurance proceeds it receives, for the repair or replacement of the insured leasehold improvements, provided this Lease is not terminated pursuant to any other provision hereof. All policies of liability insurance required to be carried maintained by the Lessee hereunder shall name Lessor be on terms and its property managerwith insurers acceptable to the Lessor, if anyacting reasonably, as additional insureds. To the extent such coverage is available, each such policy and shall provide that same such insurers shall not be cancelled or materially modified without at least thirty (30) days’ provide to the Lessor 60 calendar days prior written notice to Lessor and any mortgagee of Lessorcancellation or of material alteration of such terms. The limits Lessee shall furnish to the Lessor certified copies of the policies at the beginning of the Term and on an annual basis thereafter, or as requested by the Lessor from time to time. If the Lessee shall fail to take out, renew and keep in force such insurance the Lessor may do so and the Lessee shall not, under repay to the Lessor forthwith on demand any circumstances, limit premium amounts paid by the liability of Lessee under this Lease. In Lessor failing which the event Lessor may invoke such other remedies that Lessee fails to maintain any of the insurance required of it pursuant to this provision, Lessor shall have the right (but not the obligation) at Lessor’s election, after five (5) business days written notice to Lessee, to pay Lessee’s premiums or to arrange substitute insurance with an insurance company of Lessor’s choosing, in which event any premiums advanced by Lessor shall constitute Additional Rent payable under this Lease and shall be payable by Lessee to Lessor immediately upon demand for sameare included herein.