Common use of Payment of Premium Increases Clause in Contracts

Payment of Premium Increases. (a) As used herein, the term "Insurance Cost Increase" Is defined as any Increase In the actual cost of the Insurance applicable to the Building and required to be carried by Lessor pursuant to Paragraphs 8.2(b), 8.3(a) and 8.3(b), ("Required Insurance"), over and above the Base Premium, as hereinafter defined, calculated on an annual basis. "Insurance Cost Increase" shall Include, but not be limited to, requirements of the holder of a mortgage or deed of trust covering the Premises, Increased valuation of the Premises, and/or a general premium rate Increase. The term "Insurance Cost Increase" shall not, however, include any premium Increases resulting from the nature of the occupancy of any other lessee of the Building. II the parties insert a dollar amount In Paragraph

Payment of Premium Increases. (a) As used herein, the term "Insurance Cost Increase" Is is defined as any Increase In increase in the actual cost of the Insurance insurance applicable to the Building Building, the Property and the Industrial Center and required or permitted to be carried by Lessor pursuant to Paragraphs 8.2(b), 8.3(a8.3 (a) and 8.3(b), ("Required Insurance"), over and above the Base Premium, as hereinafter defined, calculated on an annual basis. "Insurance Cost Increase" shall Includeinclude, but not be limited to, requirements of the holder of a mortgage or deed of trust covering the Premises, Increased increased valuation of the Premises, and/or a general premium rate Increaseincrease. The term "Insurance Cost Increase" shall not, however, include any premium Increases increases resulting from the nature of the occupancy of any other lessee of the Building. II the parties insert a dollar amount In ParagraphSee Rider Paragraph 48.