Liability & Property Insurance Sample Clauses

Liability & Property Insurance. The Lessee shall, during the entire term of this Lease, keep in full force and effect a policy of liability and property damage insurance covering the Premises and all activities conducted thereon, in which the limits of liability shall be no less than the standard insurance requirements in effect by the City on the date of the execution of this Lease. Such insurance policy shall name the City as an additional insured and shall contain a clause that the insurer will not cancel or change the insurance without first giving the City thirty (30) days prior written notice. Proof of insurance coverage shall be submitted each year with the annual rent payment.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Liability & Property Insurance. Tenant shall maintain at its sole expense during the term hereof, commercial general liability insurance with broad form contractual liability coverage and with coverage limits of not less than One Million Dollars ($1,000,000.00) per occurrence and a general aggregate limit of at least Two Million Dollars ($2,000,000.00) and Tenant shall provide, in addition, excess liability insurance on a following form basis, with overall excess limits of at least Five Million Dollars ($5,000,000.00). Tenant shall also keep in force special form also known as "all risk" perils coverage insurance for the full replacement value of Tenant's improvements and Tenant's Property, including, but not limited to, trade fixtures, furnishings and other personal property. All such policies shall be written by companies reasonably satisfactory to Landlord and Tenant will cause such insurance policies to name (i) Landlord as additional insured for the liability insurance required hereunder, (ii) at Landlord's election, Landlord's property manager as designated by Landlord from time to time ("Property Manager") as additional insured for the liability insurance required hereunder and (iii) Landlord as a loss payee with respect to Tenant's improvements. All such insurance shall be written so as to provide that the insurer waives all right of recovery by way of subrogation against Landlord or Landlord's property manager (as designated from time to time) in connection with any loss or damage covered by the policy. In addition, Tenant shall keep in force Worker's Compensation or similar insurance to the extent required by law. Upon execution of this Lease, Tenant shall deliver certificates of insurance evidencing the insurance carried hereunder to Landlord. Should Tenant fail to effect the insurance called for herein Landlord may, at its sole option, procure said insurance and pay the requisite premiums, in which event, Tenant shall pay all sums so expended to Landlord as Additional Rent following invoice and promptly upon demand. Tenant shall furnish to Landlord 30 days' prior written notice to Landlord before the policy, policies or insurance program structure in question shall be materially altered or cancelled. High deductibles, self-insured retentions, or any form of "self-insurance", or "captive insurance" may not be used to fulfill this requirement, and no deductible or similar retention will be accepted for any third party coverage; including, without limitation, workers compensatio...
Sample 1Sample 2
Liability & Property Insurance. The Lessee will ensure that the following insurance is maintained during the Term and any other period it may be in possession of the Premises, including any period where the Lessee is removing LEASE OF LOCATEE LANDS /Template Version 2019-02-13 the Improvements and Trade Fixtures under section 13.2, notwithstanding section 13.5:
Sample 1
Liability & Property Insurance. 18.1.1. From the Commencement Date until midnight on the last day of the calendar month in which Substantial Completion of a Phase occurs, the Lessee covenants and agrees to take out and maintain, or cause to be taken out and maintained, the following insurance:
Sample 1Sample 2
Liability & Property Insurance. Tenant shall, at Tenant’s sole cost and expense, but for the mutual benefit of Landlord and Tenant, maintain comprehensive general liability insurance insuring against claims for bodily injury, death or property damage occurring in, upon or about the Leased Premises and on any sidewalks directly adjacent to the Leased Premises written on a per occurrence basis in an amount not less than a combined single limit of TWO MILLION DOLLARS ($2,000,000) for bodily injury, death, and property damage. Tenant shall also provide fire and property damage insurance to Landlord in the amount of the fair market value of the Leased Premises.
Sample 1

Related to Liability & Property Insurance

  • Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Xxxxxx as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Xxxxxx has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Xxxxxxxx abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Xxxxxxxx does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Xxxxxx may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower’s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.

  • Personal Property Insurance Lessee shall obtain, at Lessee's sole cost and expense, a policy of fire and extended coverage insurance including coverage for direct physical loss special form, and a sprinkler leakage endorsement insuring the personal property of Lessee. The proceeds from any personal property damage policy shall be payable to Lessee. All insurance policies required in 6 C) and 6 D) above shall: (i) provide for a certificate of insurance evidencing the insurance required herein, being deposited with Lessor ten (10) days prior to the Commencement Date, and upon each renewal, such certificates shall be provided 15 days prior to the expiration date of such coverage, (ii) be in a form reasonably satisfactory to Lessor and shall provide the coverage required by Lessee in this Lease, (iii) be carried with companies with the a Best Rating of A minimum, (iv) specifically provide that such policies shall not be subject to cancellation or reduction of coverage, except after 30 days prior written notice to Lessor, (v) name Lessor, Lessor's lender, and any other party with an insurable interest in the Premises as additional insureds by endorsement to policy, and (vi) shall be primary. Lessee agrees to pay to Lessor, as additional Rent, on demand, the full cost of the insurance policies referenced in 6 A) and 6 B) above as evidenced as insurance xxxxxxxx to Lessor which shall be included in the CAC. If Lessee does not occupy the entire Premises, the insurance premiums shall be allocated to the portion of the Premises occupied by Lessee on a pro-rata square footage or other equitable basis, as determined by Lessor. It is agreed that Lessee's obligation under this paragraph shall be prorated to the reflect the Commencement Date and the end of the Lease Term. Lessor and Lessee hereby waive any rights each may have against the other related to any loss or damage caused to Lessor or Lessee as the case may be, or to the Premises or its contents, and which may arise from any risk covered by fire and extended coverage insurance and those risks required to be covered under Lessee's personal property insurance. The parties shall provide that their respective insurance policies insuring the property or the personal property include a waiver of any right of subrogation which said insurance company may have against Lessor or Lessee, as the case may be.

  • OWNER'S LIABILITY INSURANCE The Owner shall be responsible for purchasing and maintaining the Owner’s usual liability insurance.

Time is Money Join Law Insider Premium to draft better contracts faster.