Common use of Liability and Property Insurance Clause in Contracts

Liability and Property Insurance. Landlord agrees to carry and -------------------------------- keep in force during the term hereof a standard fire and extended coverage insurance policy of the Building. Tenant agrees to take out and keep in force during the term hereof, at Tenant's expense, (a) bodily injury and property damage liability insurance in companies and through brokers approved by Landlord (with at least a Best A-Rating) to protect against any liability to the public incident to the use of or resulting from any accident occurring in or about the Premises or the Building, the liability under such insurance to be not less that One Million Dollars ($1,000,000.00) for any one person injured or $1,000,000.00 for any one accident and (b) property insurance of $1,000,000.00 covering loss or damage to the Premises (including any improvements constructed). These policies (1) shall name Owner (Xxxxxxx & Xxxxx Xxxxxx, Xxxxxx and Xxxxxx Xxxx, Xxxxxx & Xxxxxxx Xxxxxxxx, THE XXXX LIVING TRUST U/A DATED 4/15/91 and THE XXXXXXX AND XXXXXX XXXXXXXX LIVING TRUST U/A DATED 8/24/90) and Landlord (Xxxxx Building Development Partners) and such lenders, if any, as may be designated by Landlord, as additional insureds, (2) a certificate of insurance is to be delivered to the Landlord upon issuance and renewal and (3) shall contain a written obligation on the part of the insurance carriers to notify Landlord in writing thirty (30) days prior to any cancellation thereof. Notwithstanding the foregoing, Owner, Landlord and their lenders, if any, need not be named as additional insureds for Tenant's furniture, equipment and personal property. Tenant agrees that, if it does not keep such insurance in full force and effect, Landlord may, at its option, take out the necessary insurance and pay the premium. In such a case, Tenant shall reimburse Landlord for the amount so paid and such amount shall constitute additional rent due Landlord from Tenant under this Lease. The policies provided for herein together with proof of payment of premium therefore shall be delivered to Landlord within ten (10) days after the date of execution of this Lease, and renewal certificates and proof of payment of premiums therefor shall be delivered to Landlord not less than fifteen (15) days prior to the renewal date of any such insurance policies.

Liability and Property Insurance. Landlord agrees to carry Tenant shall procure at is cost and -------------------------------- keep in force during the term hereof a standard fire and extended coverage insurance policy of the Building. Tenant agrees to take out expense and keep in force effect during the term hereofTerm workers’ compensation insurance in statutory amounts, at Tenant's expense, (a) bodily injury and property damage employer’s liability insurance in companies the minimum amounts of $1,000,000 each accident for bodily injury by accident and through brokers approved $1,000,000 each employee for bodily injury by Landlord (disease with at least a Best A-Rating) to protect against any $1,000,000 limit, and commercial general liability to the public incident to the use insurance, including contractual liability with a minimum combined single limit of or resulting from any accident occurring in or about the Premises or the Building, the liability under such insurance to be of not less that One Million Dollars (than $1,000,000.00) for any one person injured 2,000,000 or $1,000,000.00 for any one accident and (b) property such greater amount as Landlord may specify from to time by written notice to Tenant. Such insurance of $1,000,000.00 covering loss or damage to the Premises (including any improvements constructed). These policies (1) shall name Owner Landlord and Landlord’s authorized agent, Cresleigh Management, Inc. (Xxxxxxx & Xxxxx Xxxxxx, Xxxxxx and Xxxxxx Xxxx, Xxxxxx & Xxxxxxx Xxxxxxxx, THE XXXX LIVING TRUST U/A DATED 4/15/91 and THE XXXXXXX AND XXXXXX XXXXXXXX LIVING TRUST U/A DATED 8/24/90) and Landlord (Xxxxx Building Development Partners) and such lenders, if any, as may be designated by Landlord“Cresleigh”), as additional insureds, shall specifically include the liability assumed hereunder by Tenant (2provided that the amount of such insurance shall not be construed to limit the liability of Tenant hereunder), shall provide that it is primary insurance and not excess over or contributory with any other valid, existing and applicable insurance in force for or on behalf of Landlord or Cresleigh, and shall provide that Landlord shall receive thirty (30) a certificate days’ written notice from the insurer prior to any cancellation or change of coverage. Tenant shall also procure at its cost and expense and keep in effect during the Term insurance is against damage by fire and other perils included within “all-risk” coverage in an amount not less than the full replacement cost of all Alterations in the Premises and all of Tenant’s Property. Tenant shall deliver policies of such insurance or certificates thereof to be delivered to Landlord on or before the Landlord upon issuance Commencement Date and renewal and (3) shall contain a written obligation on the part of the insurance carriers to notify Landlord in writing thereafter at least thirty (30) days prior before the expiration dates of expiring policies; and in the event Tenant shall fail to any cancellation thereof. Notwithstanding the foregoingprocure such insurance, Owner, Landlord and their lenders, if any, need not be named as additional insureds for Tenant's furniture, equipment and personal property. Tenant agrees that, if it does not keep or to deliver such insurance in full force and effectpolicies or certificates, Landlord may, at its option, take out procure same for the necessary account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. If at any time or from time to time, the insurance and pay coverage specified herein is no longer adequate in the premium. In such a casereasonable opinion of Landlord, Tenant shall reimburse Landlord for increase the coverage to the amount so paid and such amount shall constitute additional rent due Landlord from Tenant under this Lease. The policies provided for herein together with proof of payment of premium therefore shall be delivered to specified by Landlord within ten thirty (1030) days after notice from Landlord. Tenant’s compliance with the date of execution provisions of this Lease, and renewal certificates and proof Article 20 shall in no way limit Tenant’s liability under any provisions of payment of premiums therefor shall be delivered to Landlord not less than fifteen (15) days prior to the renewal date of any such insurance policiesArticle 19.

Liability and Property Insurance. Landlord agrees to carry The Finance and -------------------------------- keep in force during the term hereof a standard fire and extended coverage insurance policy Audit Committee of the Building. Tenant agrees to take out and keep in force during the term hereofCompany Board shall determine on an annual basis or more often, at Tenant's expense, as necessary (a) bodily injury coverage limits, deductibles and policy forms for the Company’s liability and property damage liability casualty insurance in companies and through brokers approved by Landlord coverage (with at least a Best A-Rating) to protect against any liability to the public incident to the use of or resulting from any accident occurring in or about the Premises or the Buildingcollectively, the liability under such insurance to be not less that One Million Dollars ($1,000,000.00“Insurance Program”) for any one person injured or $1,000,000.00 for any one accident and (b) property a market-based premium for any insurance of $1,000,000.00 covering loss or damage to the Premises (including any improvements constructed). These policies (1) shall name Owner (Xxxxxxx & Xxxxx Xxxxxx, Xxxxxx and Xxxxxx Xxxx, Xxxxxx & Xxxxxxx Xxxxxxxx, THE XXXX LIVING TRUST U/A DATED 4/15/91 and THE XXXXXXX AND XXXXXX XXXXXXXX LIVING TRUST U/A DATED 8/24/90) and Landlord (Xxxxx Building Development Partners) and such lenders, if any, as may be designated by Landlord, as additional insureds, (2) a certificate of insurance coverage that is to be delivered to the Landlord upon issuance and renewal and (3) shall contain a written obligation on the part of the Insurance Program and that the Members obtain on behalf of the Company pursuant to this Section 3.14 (the “Premium Amount”). To the extent that the Company Board elects not to have the Company procure directly any portion of the insurance carriers to notify Landlord in writing thirty (30) days prior to any cancellation thereof. Notwithstanding coverage contemplated by the foregoingInsurance Program, Owner, Landlord and their lenders, if any, need not be named as additional insureds for Tenant's furniture, equipment and personal property. Tenant agrees that, if it does not keep such insurance in full force and effect, Landlord may, at its option, take out the necessary insurance and pay the premium. In such a case, Tenant shall reimburse Landlord for the amount so paid and such amount shall constitute additional rent due Landlord from Tenant under this Lease. The policies provided for herein together with proof of payment of premium therefore each Member shall be delivered responsible under Section 6.2(a) for its Percentage Interest of each Insurance Payment Amount associated with an Insurance Payment Event that occurs under such Insurance Program, regardless of a Member’s ability to Landlord within ten recover any such Insurance Payment Amounts from any third party. Each Member’s obligation under Section 6.2 shall be the Member’s Percentage Interest of such Insurance Payment Amount less the proceeds received by the Company under insurance coverage obtained by such Member on behalf of the Company associated with such Insurance Payment Event. Without limiting any Member’s obligations under Section 6.2(a), each Member shall obtain on behalf of the Company insurance policies (10on terms acceptable to such Member in its sole discretion) days after covering its Percentage Interest of any risks associated with the date of execution of this LeaseInsurance Program that the Board has elected not to have the Company procure directly, and renewal certificates each such policy that a Member obtains shall name the Company as an additional insured, or if a Member elects to insure the Company with the Member’s captive insurance company, a separate policy in the Company’s name will be issued. If a loss shall occur that the Company believes constitutes an Insurance Payment Event, the Company shall notify the Members of such occurrence as soon as reasonably practicable and proof of payment of premiums therefor shall be delivered cause a Qualified Adjuster to Landlord not less than fifteen (15) days prior to determine whether such loss constitutes an Insurance Payment Event and the renewal date of any such insurance policiesQualified Adjuster and the Members shall determine the Insurance Payment Amount applicable thereto.

Liability and Property Insurance. Landlord agrees to carry and -------------------------------- keep in force during the term hereof a standard fire and extended coverage insurance policy of the Building. Tenant agrees to take out and keep in force during the term hereof, at Tenant's expense, (a) bodily injury The Tenant shall maintain in full force, from the Commencement Date, with respect to the Premises and property damage the Property of which the Premises are a part, commercial general liability insurance written on an occurrence basis and including contractual liability coverage to cover any liabilities assumed under this Lease in companies and through brokers approved by Landlord (with at least a Best A-Rating) to protect against any liability to the public incident to the use of or resulting from any accident occurring in or about the Premises or the Building, the liability under such insurance to be not less that One Million Dollars ($1,000,000.00) for any one person injured or $1,000,000.00 for any one accident and (b) property insurance amount of $1,000,000.00 covering loss 2,000,000.00, with property- damage insurance in limits of $2,000,000, in responsible companies qualified to do business in Massachusetts and in good standing therein naming the Landlord as insured and the Tenant as an additional insured against injury to persons or damage to property as provided. The Tenant shall deposit with the Premises (including any improvements constructed). These policies (1) shall name Owner (Xxxxxxx & Xxxxx Xxxxxx, Xxxxxx and Xxxxxx Xxxx, Xxxxxx & Xxxxxxx Xxxxxxxx, THE XXXX LIVING TRUST U/A DATED 4/15/91 and THE XXXXXXX AND XXXXXX XXXXXXXX LIVING TRUST U/A DATED 8/24/90) and Landlord (Xxxxx Building Development Partners) and XXXXX Form 27 certificates for such lenders, if any, as may be designated by Landlord, as additional insureds, (2) a certificate of insurance is to be delivered at or prior to the Landlord upon issuance and renewal and (3) shall contain a written obligation on the part commencement of the insurance carriers to notify Landlord in writing term, and thereafter within thirty (30) days prior to the expiration of any cancellation thereofsuch policies. Notwithstanding the foregoing, Owner, Landlord and their lenders, if any, need AH such insurance certificates shall provide that such policies shall not be canceled or amended without at least twenty (20) days’ prior written notice to each insured and additional insured named therein. The Landlord shall have the right from time to time to require modifications to the policy or policies or to require an increase in such minimum limits upon notice to the Tenant, provided that any such increase or modifications shall provide coverage of a nature and in amounts similar to coverage on like properties in the Greater Boston market as additional insureds for Tenant's furniturereasonably determined by Landlord. Additionally, equipment and personal property. the Tenant agrees that, if it does not keep such insurance shall also maintain in full force and effecteffect from the Commencement Date throughout the Lease Term and thereafter so long as the Tenant is in occupancy of any part of the Premises, property insurance covering the Tenant’s furnishings, fixtures, equipment or other personal property of the Tenant written on an “All Risk” basis for full replacement cost. The Tenant agrees that Landlord mayshall not be responsible or liable to Tenant, at or those claiming by, through or under Tenant, for any loss or damage that may be occasioned by or through the acts or omissions of persons occupying or using adjoining premises, or otherwise, or for any loss or damage resulting to the Tenant or those claiming by, through or under Tenant, or its optionor their property, take out except that the necessary insurance and pay foregoing shall not exculpate the premium. In such a case, Tenant shall reimburse Landlord for the amount so paid and such amount shall constitute additional rent due Landlord from Tenant under this Lease. The policies provided for herein together with proof of payment of premium therefore shall be delivered to Landlord within ten (10) days after the date of execution of this Lease, and renewal certificates and proof of payment of premiums therefor shall be delivered to Landlord not less than fifteen (15) days prior to the renewal date of any such insurance policiesits own negligent acts or omissions.