Licensor’s Insurance. The Owner will, without limiting its obligations or liabilities under this Agreement, at its own expense, obtain and maintain, during the Term or any Renewal Term:
(a) commercial general liability insurance in an amount not less than Two Million ($2,000,000.00) Dollars inclusive per occurrence against liability for bodily injury, personal injury, death and property damage relating to the Owner’s ownership, use, occupation, operation, management and/or maintenance of the Equipment Room, the Building and the Lands. The required insured amount for comprehensive general liability shall be composed of any combination of primary and excess (umbrella) insurance policies.
(b) “All risks” property insurance in an amount not less than the replacement cost of the Equipment Room and the Building.
(c) boiler and machinery insurance for electrical and mechanical breakdown of heating, ventilation and air conditioning machinery and equipment in the Building.
Licensor’s Insurance. Licensor, at Licensor’s sole cost and expense (including deductibles), shall maintain in force at all times during the term of this Agreement, insurances including:
(i) Commercial general liability insurance, on an occurrence basis, including coverage for premises, products/completed operations, personal injury, and contractual liability, with a minimum combined single limit of liability of Five Million and No/100 Dollars ($5,000,000.00) per occurrence and annual aggregate coverage for bodily injury or property damage, insuring against liability of Licensor and its authorized agents, employees and/or representatives arising out of and in connection with Licensor’s ownership, use and occupancy of the Premises. Licensee shall be included as additional insured for claims arising out of Licensor’s ownership, use and occupancy of the Property and Licensor’s insurers will waive rights of subrogation against Licensee to the extent of Licensor’s indemnity obligations herein.
(ii) Workers’ compensation insurance as required by law for all Licensor’s employees; and Employer’s Liability insurance in an amount not less than $1,000,000 per accident/per employee. Licensor’s insurers will waive rights of subrogation against Licensee to the extent of Licensor’s indemnity obligations herein.
(iii) Business automobile liability insurance, covering all owned, rented, leased, non-owned and hired vehicles used by Licensor in connection with the Premises with a combined single limit for bodily injury and property damage of $5,000,000 per occurrence. Licensee shall be included as additional insured for claims arising out of Licensor’s activities and Licensor’s insurers will waive rights of subrogation against Licensee to the extent of Licensor’s indemnity obligations herein.
(iv) Property “all risk” insurance covering the Property and all of Licensor’s equipment, personal property and tools. Such insurance shall cover the Property and all property of Licensor at full replacement value.
Licensor’s Insurance. Licensor shall maintain or cause to be maintained All Risk also known as Special Form Property insurance (hereinafter referred to as “All Risk”) in respect of the Building and other improvements on the land normally covered by such insurance (except for the property the Licensee is required to cover with insurance under this Agreement) for the benefit of Licensor and other parties Licensor may from time to time designate, as their interests may appear. The All Risk insurance will be on a full replacement cost basis and not less than the amount sufficient to avoid the effect of the co-insurance provisions of the applicable policy or policies. Licensor shall also maintain (a) commercial general liability insurance with a policy limit of at least $2,000,000.00 (or an equivalent amount in local currency) and (b) employer’s liability and workers’ compensation insurance as required by applicable Law.
Licensor’s Insurance. LICENSOR shall procure and maintain at its own cost, commercial general public liability, and property damage insurance with coverage of combined single limited coverage as required by the Conditional Use Permit from the Town of Mosel insuring LICENSOR from all claims, demands or actions to or death of any person or persons and for damage to the Premises.
Licensor’s Insurance. Licensor will procure and continue in force during the Term at its own expense a commercial general liability and property damage insurance policy on an occurrence basis in an amount not less than $1,000,000 combined single limit. Upon request of Licensee, Licensor will provide a certificate of insurance to Licensee evidencing such coverage.
Licensor’s Insurance. The Licensor acknowledges and agrees that throughout the Term, it shall maintain in full force and effect the following insurance with respect to the Building: (a) “all risks” property insurance, on a full replacement cost basis, with respect to the Building; (b) boiler and machinery insurance, on a full replacement cost basis, with respect to all pressure vessels, boilers, machinery and equipment in or servicing the Building; and (c) comprehensive general liability insurance for bodily injury (including death) and property damage, in the amount of at least Ten Million Dollars ($10,000,000) per occurrence, which policy shall name the Licensee as an Additional Insured, and contain cross liability and severability of interests clauses. The Licensor shall provide the Licensee with a certificate evidencing such insurance, containing an undertaking by the Licensor’s insurers to provide the Licensee with a minimum of thirty (30) days’ notice in the event of any material change, cancellation or termination of such policies.
Licensor’s Insurance a) The Licensor shall carry insurance throughout the term of this Licence such insurance with such deductibles and in such reasonable amounts as the Licensor shall deem reasonable, expedient and beneficial, including but not limited to the following:
i) “all risk" including flood and earthquake property insurance covering all property owned by the Licensor, including the Licenced Space and including all Licensor's improvements and betterment's, in an amount not less than the replacement cost thereof;
ii) commercial general liability insurance with respect to the Licensor's ownership and operation of the Licensor’s Property, covering third party liability and property damage; and,
iii) insurance against any other type of loss that the Licensor may require or deem advisable.
Licensor’s Insurance. Licensor will maintain insurance, or a program of self‑insurance, in amounts and coverages equal to those described in subparagraph 13.
Licensor’s Insurance. 16.1 The Licensor will take all reasonable steps to insure the Structures to their full replacement value against loss, damage, or destruction by fire, earthquake, fire subsequent upon earthquake, flood, lightning, storm or other natural event, the premiums for which shall be met from the Operating Expenses.
16.2 The Licensee shall not do, permit, or fail to do anything that may render void or voidable any policy of insurance effected by the Licensor, or result in any increased or extra premium becoming payable in respect of such insurance. If the Licensee does, permits or fails to do anything that results in any increased or extra premium becoming payable in respect of the Licensor's insurance the Licensee agrees to forthwith on demand from the Licensor pay to the Licensor such increased or extra premium or premiums.
16.3 Subject to clause 16.5, if:
(a) during the Term, the Berth or any material Structure(s) (Assets) are destroyed or damaged (whether remaining partially available for use by the Licensee or incapable of use); and
(b) there are sufficient insurance moneys recovered by the Licensor to fully repair and reinstate the Assets,- the Licensor will, with all reasonable speed, repair and reinstate the Assets and will apply all insurance moneys recovered to do so: and
(i) the Licensor shall be entitled to require the Licensee to vacate the Berth for the period necessary to effect such repair and reinstatement;
(ii) the Licensee shall not be entitled to any refund of the Licence Fee or the Operating Expenses or to any compensation for the lack of availability of the Berth or otherwise; and
(iii) the Licensor shall be entitled to complete such reinstatement using such materials and form of construction as the Licensor deems appropriate.
16.4 If the Licensor recovers insufficient insurance moneys to repair and reinstate the Asset fully then the Licensor will elect, by giving written notice to the Licensee within one month of the date of such damage or destruction, (Licensor’s notice) either:
(a) to proceed (subject to clause 16.5) with all reasonable speed to repair and reinstate the Asset, in which event it will apply all insurance moneys recovered to do so as soon as practicable and shall meet the cost of such repair and reinstatement to the extent that such costs exceed the insurance moneys recovered; or
(b) elect to determine the Licence, in which event this Agreement will be at an end and the insurance moneys recovered by the Licensor will be payab...
Licensor’s Insurance. Beginning at such time as any Licensor Molecule and/or Product is being commercially Sold (other than for the purpose of obtaining Regulatory Approvals), by Company, an Affiliate or Sublicensee, in support of its indemnification obligations under Section 9.1(b) above, Licensor shall, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than $2,000,000 per incident and $5,000,000 annual aggregate. Company shall provide Licensor with written evidence of such insurance upon request of Licensor.
