Common use of LIABILITY INSURANCE - Public Liability and Other Insurance Clause in Contracts

LIABILITY INSURANCE - Public Liability and Other Insurance. Tenant covenants to provide on or before the commencement of the demised term and to keep in force during the demised term a comprehensive liability policy of insurance, including property damage, insuring Tenant and Gyrodyne Company of America, Inc. as Landlord as an additional named insured under the policy against any liability for injury to persons and/or property and death of any person(s) occurring in on or about the premises, or any appurtenances thereto. Such policy or policies to be written by one or more responsible insurance companies authorized by the State of New York to do business satisfactory to Landlord and the limits of liability thereunder shall not be less than the amount of Five Hundred Thousand ($500,000) dollars in respect to any one person injured killed, not less than the amount of One Million ($1,000,000) dollars in respect to any one accident, and not less than the amount of Fifty Thousand ($50,000) dollars in respect to property damages. All such insurance may be carried under the blanket policy covering the premises and any other Tenant's properties. Tenant agrees to deliver to Landlord, at least fifteen (15) days prior to the time such insurance is first required to be carried by Tenant, and thereafter at least fifteen (15) days prior to the expiration of any such policy, either a duplicate or a certificate and true copy of all policies procured by Tenant in compliance with its obligations hereunder, together with evidence of payment thereof and including an endorsement which states that such insurance may not be canceled, except upon ten (10) days written notice to Landlord and only designee(s) of Landlord, and complete waiver of all rights of subrogation against the Landlord, its servants, agents and/or employees.

LIABILITY INSURANCE - Public Liability and Other Insurance. Tenant covenants to provide on or before the commencement of the demised term and to keep in force during the demised term a comprehensive liability policy of insurance, including property damage, insuring Tenant and Gyrodyne Company of America, Inc. as Landlord as an additional named insured under the policy against any liability for injury to persons and/or property and death of any person(s) occurring in on or about the premises, or any appurtenances thereto. Such policy or policies to be written by one or more responsible insurance companies authorized to do business by and in the State of New York to do business and satisfactory to Landlord and the Landlord. The limits of liability thereunder shall not be less than the amount of Five Hundred Thousand One Million ($500,0001,000,000) dollars in respect to any one person injured or killed, not less than the amount of One Two Million ($1,000,0002,000,000) dollars in respect to any one accident, and not less than the amount of Fifty Thousand ($50,000) dollars in respect to property damages. All such insurance may be carried under the blanket policy covering the premises and any other Tenant's properties. Tenant agrees to deliver to Landlord, at least fifteen (15) days prior to the time such insurance is first required to be carried by Tenant, and thereafter at least fifteen (15) days prior to the expiration of any such policy, either a duplicate or a certificate and true copy of all policies procured by Tenant in compliance with its obligations hereunder, together with evidence of payment thereof and including an endorsement which states that such insurance may not be canceled, except upon ten (10) days written notice to Landlord and only designee(s) of Landlord, and complete waiver of all rights of subrogation against the Landlord, its servants, agents and/or employees.

LIABILITY INSURANCE - Public Liability and Other Insurance. Tenant covenants to provide on or before the commencement of the demised term and to keep in force during the demised term a comprehensive liability policy of insurance, including property damage, insuring Tenant and Gyrodyne Company of America, Inc. as Landlord as an additional named insured under the policy against any liability for injury to persons and/or property and death of any person(s) occurring in on or about the premises, or any appurtenances thereto. Such policy or policies to be written by one or more responsible insurance companies authorized to do business by the State of New York to do business satisfactory to Landlord and the limits of liability thereunder shall not be less than the amount of Five Hundred Thousand One Million ($500,0001,000,000) dollars in respect to any one person injured or killed, not less than the amount of One Two Million ($1,000,0002,000,000) dollars in respect to any one accident, and not less than the amount of Fifty One Hundred Thousand ($50,000100,000) dollars in respect to property damages. All such insurance may be carried under the blanket policy covering the premises and any other Tenant's properties. Tenant agrees to deliver to Landlord, at least fifteen (15) days prior to the time such insurance is first required to be carried by Tenant, and thereafter at least fifteen (15) days prior to the expiration of any such policy, policy either a duplicate or a certificate and true copy of all policies procured by Tenant in compliance with its obligations hereunder, together with evidence of payment thereof and including an endorsement which states that such insurance may not be canceled, except upon ten (10) days written notice to Landlord and only designee(s) of Landlord, and complete waiver of all rights of subrogation against the Landlord, its its' servants, agents and/or employees.