LESSEE'S LIABILITY INSURANCE. Lessee shall, at its sole ------------- ---------------------------- cost and expense, obtain and keep in force during the term of this Lease comprehensive general liability insurance applying to the condition, use, occupancy, and maintenance of the Premises and the business operated by Lessee, or any other occupant, on the Premises. Such insurance shall include broad form contractual liability insurance coverage insuring all of Lessee's indemnity obligations under this Lease. Such coverage shall have a minimum combined single limit of liability of at least Two Million Dollars ($2,000,000). All such policies shall be written to apply to all bodily injury, property damage, personal injury and other covered loss, however occasioned. All such policies shall be endorsed to add Lessor and any lender or other party named by Lessor as an additional insured and to provide that any insurance maintained by Lessor shall be excess insurance only. Such coverage shall also contain endorsements: (i) deleting any employee exclusion on personal injury coverage; (ii) including employees as additional insureds; and (iii) providing for coverage of employer's automobile non-ownership liability. All such insurance shall provide for severability of interests; shall provide that an act or omission of one of the named insureds shall not reduce or avoid coverage to the other named insureds; and shall afford coverage for all claims based on acts, omissions, injury and damage, which claims occurred or arose (or the onset of which occurred or arose) in whole or in part during the policy period. The limits of all insurance described in this Section 9.04 shall not, however, limit the liability of Lessee hereunder. Not more frequently than once each calendar year if, in the reasonable opinion of Lessor, the amount of insurance required hereunder is not adequate, Lessee shall increase said insurance coverage as reasonably required by Lessor; provided that, in no event shall any such increase result in an increase in the premium therefor of greater than twenty percent (20%) of the amount of the premium during the preceding year of the term of this Lease. The failure of Lessor to require any additional insurance coverage at any time shall not relieve Lessee from the obligation to provide increased coverage at any later time or relieve Lessee from any other obligations under this Lease. Lessee shall furnish to Lessor prior to the Commencement Date, and at least thirty (30) days prior to the expiration date of any policy, certificates indicating that the liability insurance required to be carried by Lessee is in full force and effect. Such policy of liability insurance shall specifically provide that such policy shall not be subject to cancellation or reduction of coverage except after at least thirty (30) days prior written notice to Lessor. The insurance shall be with insurers approved by Lessor and with policies in form satisfactory to Lessor, provided however, that such approval shall not be unreasonably withheld.
Appears in 1 contract
Samples: Industrial Lease (Valicert Inc)
LESSEE'S LIABILITY INSURANCE. Lessee shall, at its sole ------------- ---------------------------- cost and expense, obtain and keep in force during the term of this Lease comprehensive general liability insurance applying to against claims of bodily injury, personal injury, and property damage (including loss of use thereof) arising out of the condition, use, occupancy, and maintenance of the Premises and the business operated by Lessee, Lessee (and if Lessee subleases all or any other occupant, portion of the Premises then Lessee shall provide Lessor evidence reasonably satisfactory to Lessor that such sublessee has obtained such insurance covering the business operated by such sublessee in the subleased space) on the PremisesPremises and applying also to Lessee’s use of the Common Lobby for access and egress purposes. Such insurance shall include broad form contractual liability insurance coverage insuring all of Lessee's ’s indemnity obligations under this LeaseLease to which such insurance applies. Such coverage shall have a minimum combined single limit of liability of at least Two Five Million Dollars ($2,000,0005,000,000). All such liability policies shall be written to apply to all bodily injuryinjuries, property damage, damages and personal injury and other covered loss, however occasionedinjuries. All such liability policies shall be endorsed to add include Lessor and any lender or other party named by Lessor as an additional insured insureds and to provide that any insurance maintained by Lessor shall be excess insurance only. Such coverage shall also contain endorsements:
(i) deleting any employee exclusion on personal bodily injury coverage; and (ii) including employees as additional insureds; and (iii) providing . Lessee shall obtain a separate policy meeting the above coverage requirements that provides for coverage of employer's ’s automobile non-ownership liability. All such insurance shall provide for severability separation of interests; shall provide that an act or omission of one of the named insureds shall not reduce or avoid coverage to the other named insureds; and shall afford coverage for all claims based on acts, omissions, injury and damage, which claims occurred or arose (or the onset of which occurred or arose) in whole or in part during the policy period. The limits of all insurance described in this Section 9.04 shall not, however, limit the liability of Lessee hereunder. Not more frequently than once each calendar year if, in the reasonable opinion of Lessor, the amount of insurance required hereunder is not adequate, Lessee shall increase said insurance coverage as reasonably required by Lessor; provided that, in no event shall any such increase result in an increase in the premium therefor of greater than twenty percent (20%) of the amount of the premium during the preceding year of the term of this Lease. The failure of Lessor to require any additional insurance coverage at any time shall not relieve Lessee from the obligation to provide increased coverage at any later time or relieve Lessee from any other obligations under this Lease. Lessee shall furnish to Lessor prior to the Commencement Date, and at least thirty ten (3010) days prior to the expiration date of any policy, certificates indicating that the liability insurance required to be carried by Lessee is in full force and effect. Such policy of liability insurance shall specifically provide that such policy shall not be subject to cancellation or reduction of coverage except after at least thirty ten (3010) days prior written notice to Lessor. The insurance shall be with insurers approved by Lessor and with policies in form satisfactory to Lessor, provided however, that such approval shall not be unreasonably withheld.The
Appears in 1 contract
Samples: Industrial Lease (ViewRay, Inc.)
LESSEE'S LIABILITY INSURANCE. Lessee shall, at its sole ------------- ---------------------------- cost and expense, obtain and keep in force during the term of this Lease comprehensive general liability insurance applying to the condition, use, occupancy, and maintenance of the Premises and the business operated by Lessee, or any other occupant, on the Premises. Such insurance shall include broad form contractual liability insurance coverage insuring all of Lessee's ’s indemnity obligations under this Lease. Such coverage shall have a minimum combined single limit of liability of at least Two Three Million Dollars ($2,000,0003,000,000). All such policies shall be written to apply to all bodily injury, property damage, personal injury and other covered loss, however occasioned. All such policies shall be endorsed to add Lessor and any lender or other party named by Lessor as an additional insured and to provide that any insurance maintained by Lessor shall be excess insurance only. Such coverage shall also contain endorsements:
: (i) deleting any employee exclusion on personal injury coverage; (ii) including employees as additional insureds; and (iii) providing for coverage of employer's ’s automobile non-ownership liability. All such insurance shall provide for severability of interests; shall provide that an act or omission of one of the named insureds shall not reduce or avoid coverage to the other named insureds; and shall afford coverage for all claims based on acts, omissions, injury and damage, which claims occurred or arose (or the onset of which occurred or arose) in whole or in part during the policy period. The limits of all insurance described in this Section 9.04 shall not, however, limit the liability of Lessee hereunder. Not more frequently than once each calendar year if, in the reasonable opinion of Lessor, the amount of insurance required hereunder is not adequate, Lessee shall increase said insurance coverage as reasonably required by Lessor; provided that, in no event shall any such increase result in an increase in the premium therefor of greater than twenty percent (20%) of the amount of the premium during the preceding year of the term of this Lease. The failure of Lessor to require any additional insurance coverage at any time shall not relieve Lessee from the obligation to provide increased coverage at any later time or relieve Lessee from any other obligations under this Lease. Lessee shall furnish to Lessor prior to the Commencement Date, and at least thirty (30) days prior to the expiration date of any policy, certificates indicating that the liability insurance required to be carried by Lessee is in full force and effect. Such policy of liability insurance shall specifically provide that such policy shall not be subject to cancellation or reduction of coverage except after at least thirty (30) days prior written notice to Lessor. The insurance shall be with insurers approved by Lessor and with policies in form satisfactory to Lessor, provided however, that such approval shall not be unreasonably withheld.
Appears in 1 contract
Samples: Industrial Lease (NeoStem, Inc.)
LESSEE'S LIABILITY INSURANCE. Lessee shall, at its sole ------------- ---------------------------- cost and expense, obtain and keep in force during the term of this Lease comprehensive general liability insurance applying to the condition, use, occupancy, and maintenance of the Premises and the business operated by Lessee, or any other occupant, on the Premises. Such insurance shall include broad form contractual liability insurance coverage insuring all of Lessee's indemnity obligations under this Lease. Such coverage shall have a minimum combined single limit of liability of at least Two Million Dollars ($2,000,000). All such policies shall be written to apply to all bodily injury, property damage, personal injury and other covered loss, however occasioned. All such policies shall be endorsed to add Lessor and any lender or other party named by Lessor as an additional insured and to provide that any insurance maintained by Lessor shall be excess insurance only. Such coverage shall also contain endorsements:broad
(i) deleting any employee exclusion on personal injury coverage; (ii) including employees as additional insureds; and (iii) providing for coverage of employer's automobile non-ownership liability. All such insurance shall provide for severability of interests; shall provide that an act or omission of one of the named insureds shall not reduce or avoid coverage to the other named insureds; and shall afford coverage for all claims based on acts, omissions, injury and damage, which claims occurred or arose (or the onset of which occurred or arose) in whole or in part during the policy period. The limits of all insurance described in this Section 9.04 shall not, however, limit the liability of Lessee hereunder. Not more frequently than once each calendar year if, in the reasonable opinion of Lessor, the amount of insurance required hereunder is not adequate, Lessee shall increase said insurance coverage as reasonably required by Lessor; provided that, in no event shall any such increase result in an increase in the premium therefor of greater than twenty percent (20%) of the amount of the premium during the preceding year of the term of this Lease. The failure of Lessor to require any additional insurance coverage at any time shall not relieve Lessee from the obligation to provide increased coverage at any later time or relieve Lessee from any other obligations under this Lease. Lessee shall furnish to Lessor prior to the Commencement Date, and at least thirty (30) days prior to the expiration date of any policy, certificates indicating that the liability insurance required to be carried by Lessee is in full force and effect. Such policy of liability insurance shall specifically provide that such policy shall not be subject to cancellation or reduction of coverage except after at least thirty (30) days prior written notice to Lessor. The insurance shall be with insurers approved by Lessor and with policies in form satisfactory to Lessor, provided however, that such approval shall not be unreasonably withheld.
Appears in 1 contract
Samples: Industrial Lease (Valicert Inc)
LESSEE'S LIABILITY INSURANCE. Notwithstanding anything to the contrary contained in the Lease, Lessee shall, at its sole ------------- ---------------------------- cost and Lessee's expense, obtain and keep in force during the term of this Lease comprehensive Lease, a commercial general liability insurance applying to policy insuring Lessee against the conditionrisks of bodily injury and property damage, personal injury, contractual liability, completed operations, products liability, host liquor liability, owned and non-owned automobile liability arising out of the ownership, use, occupancy, and occupancy or maintenance of the Leased Premises and the business operated by Lessee, or any other occupant, on common area adjacent to the Premisesleased premises. Such insurance shall include broad form contractual liability insurance coverage insuring all of Lessee's indemnity obligations under this Lease. Such coverage shall have be a minimum combined single limit of liability of at least Two Million Dollars policy in an amount not less than ONE MILLION DOLLARS ($ 1,000,000.00) per occurrence with TWO MILLION DOLLAR ($2,000,000)2,000,000.00) annual aggregate and an umbrella policy of ONE MILLION DOLLARS ($ 1,000,000.00) any one occurrence. All such policies shall be written to apply to all bodily injury, property damage, personal injury and other covered loss, however occasioned. All such policies shall be endorsed to add Lessor and any lender or and any other party named by Lessor as an additional insured and to provide that any insurance maintained in interest designated by Lessor shall be excess insurance only. Such coverage shall also contain endorsements:
(i) deleting any employee exclusion on personal injury coverage; (ii) including employees named as additional insuredsinsured(s). The policy shall contain cross liability endorsements and shall insure performance by Lessee of the indemnity provisions of this Lease; shall cover contractual liability, and (iii) providing products liability; shall be primary, not contributing with, and not in excess of coverage which Lessor may carry; shall state that Lessor is entitled to recovery for coverage the negligence of employer's automobile non-ownership liability. All such insurance Lessee even though Lessor is named as an additional insured; shall provide for severability of interestsinterest; shall provide that an act or omission of one of the named insured or additional insureds which would void or otherwise reduce coverage shall not void or reduce or avoid coverage coverages as to the other named insured or additional insureds; and shall afford coverage after the term of this Lease (by separate policy or extension if necessary) for all claims based on acts, omissions, injury and damage, or damage which claims occurred or arose (or the onset of which occurred or arose) in whole or in part during the policy periodterm of this Lease. The limits of all said insurance described in this Section 9.04 shall not, however, not limit the any liability of Lessee hereunder. Not more frequently than once each calendar year every three (3) years, if, in the reasonable opinion of Lessor, the amount of liability insurance required hereunder is not adequate, Lessee shall promptly increase said insurance coverage as reasonably required by Lessor; provided that, in no event shall any such increase result in an increase in the premium therefor of greater than twenty percent (20%) of the amount of the premium during the preceding year of the term of this Lease. The failure of Lessor to require any additional insurance coverage at any time shall not relieve Lessee from the obligation to provide increased coverage at any later time or relieve Lessee from any other obligations under this Lease. Lessee shall furnish to Lessor prior to the Commencement Date, and at least thirty (30) days prior to the expiration date of any policy, certificates indicating that the liability insurance required to be carried by Lessee is in full force and effect. Such policy of liability insurance shall specifically provide that such policy shall not be subject to cancellation or reduction of coverage except after at least thirty (30) days prior written notice to Lessor. The insurance shall be with insurers approved by Lessor and with policies in form satisfactory to Lessor, provided however, that such approval shall not be unreasonably withheld.
Appears in 1 contract