Common use of Party B’s Insurance Clause in Contracts

Party B’s Insurance. (a) To effect and maintain adequate insurance cover with a reputable insurance company which holds a valid business license in PRC approved by Party A (whose approval shall not be unreasonably withheld) in respect of: (i) any loss or damage to property within the Premises including without limitation all furniture, Party B’s fixtures, fittings, equipment, samples, personal effects and stock in their full replacement value against fire and extraneous perils including without limitation those risks, perils or under circumstances for which Party A’s liability is expressly or impliedly excluded under this Lease, such insurance shall be in an amount of not less than RMB1,750,000; (ii) damages in respect of death of or bodily injury to third parties, or loss of or damage to the property belonging to third parties in consequence of accidents occurring in direct connection with the performance of the work and happening on or in the vicinity of the Premises, such insurance shall be in an amount of not less than USD1,000,000 per claim or USD5,000,000 in aggregate. (b) To produce to Party A when required by Party A from time to time the policy of insurance together with a receipt for the last payment of premium and a certificate from the insurance company that the policy is fully paid up and is valid and subsisting; (c) As soon as reasonably practicable to apply all money received under any policy effected under Article 3.6(a) in making good the losses in respect of which it was paid; (d) To notify Party A promptly of any damage to the Premises; (e) Not without Party A’s written consent to effect any insurance which may reduce the insurance money receivable by Party A.

Party B’s Insurance. (a) To effect and maintain adequate insurance cover with a reputable insurance company which holds a valid business license in PRC approved by Party A (whose approval shall not be unreasonably withheld) in respect of: (i) any loss or damage to property within the Premises including without limitation all furniture, Party B’s fixtures, fittings, equipment, samples, personal effects and stock in their full replacement value against fire and extraneous perils including without limitation those risks, perils or under circumstances for which Party A’s liability is expressly or impliedly excluded under this Lease, such insurance shall be in an amount of not less than RMB1,750,000RMB 1,750,000; (ii) damages in respect of death of or bodily injury to third parties, or loss of or damage to the property belonging to third parties in consequence of accidents occurring in direct connection with the performance of the work and happening on or in the vicinity of the Premises, such insurance shall be in an amount of not less than USD1,000,000 per claim or USD5,000,000 in aggregate. (b) To produce to Party A when required by Party A from time to time the policy of insurance together with a receipt for the last payment of premium and a certificate from the insurance company that the policy is fully paid up and is valid and subsisting; (c) As soon as reasonably practicable to apply all money received under any policy effected under Article 3.6(a) in making good the losses in respect of which it was paid; (d) To notify Party A promptly of any damage to the Premises; (e) Not without Party A’s written consent to effect any insurance which may reduce the insurance money receivable by Party A.

Party B’s Insurance. (a) To effect and maintain adequate insurance cover with a reputable insurance company which holds a valid business license in PRC approved by Party A (whose approval shall not be unreasonably withheld) in respect of: (i) any loss or damage to property within the Premises including without limitation all furniture, Party B’s fixtures, fittings, equipment, samples, personal effects and stock in their full replacement value against fire and extraneous perils including without limitation those risks, perils or under circumstances for which Party A’s liability is expressly or impliedly excluded under this Lease, such insurance shall be in an amount of not less than RMB1,750,000RMB 1,750,000; (ii) damages in respect of death of or bodily injury to third parties, or loss of or damage to the property belonging to third parties parries in consequence of accidents occurring in direct connection with the performance of the work and happening on or in the vicinity of the Premises, such insurance shall be in an amount of not less than USD1,000,000 per claim or USD5,000,000 in aggregate. Providing that the insurance and sums specified in this clause shall apply to the Premises in this Lease and also the Premises as defined in the lease in 2002 between Shanghai Cambridge Property Development Company Limited and Party B and in the lease dated March 11 2004 between Party A and Party B (“Previous Leases”) as whole. (b) To produce to Party A when required by Party A from time to time the policy of insurance together with a receipt for the last payment of premium and a certificate from the insurance company that the policy is fully paid up and is valid and subsisting; (c) As soon as reasonably practicable to apply all money received under any policy effected under Article 3.6(a) in making good the losses in respect of which it was paid; (d) To notify Party A promptly of any damage to the Premises; (e) Not without Party A’s written consent to effect any insurance which may reduce the insurance money receivable by Party A.