Common use of Permanent Hazard and Other Insurance Clause in Contracts

Permanent Hazard and Other Insurance. (a) During the Term, Lessee shall keep the Property insured against all risk of physical loss or damage by fire and other risks covered under an all risk, extended coverage or “special form” policy of insurance and shall maintain builders’ risk insurance during construction of any Improvements or Modifications in each case in amounts no less than the Termination Value from time to time and on terms that (i) are no less favorable than insurance covering other similar properties owned by Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by Lessee. The policies shall name Lessee as the insured and shall be endorsed to name Lessor and the Agent (on behalf of the Secured Parties) as mortgagees and loss payees, as their interests may appear; provided, so long as no Lease Event of Default exists, any and all losses shall be adjusted by Lessee, and any loss payable under the insurance policies required by this Section for losses up to $1,000,000 will be paid to Lessee.

Permanent Hazard and Other Insurance. (a) During the TermTerm for each Property, Lessee shall keep the such Property insured against all risk of physical loss or damage by fire and all other risks covered under an all risk, extended coverage or “special form” policy of insurance and shall maintain builders’ ' risk insurance during construction of any Improvements or Modifications in each case in amounts no less than the Termination Value from time then current replacement value of such Property (assuming that such Property was in the condition required by the terms of this Lease immediately prior to time such loss) and on terms that (i) are no less favorable than insurance covering other similar properties owned by Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by Lessee. The policies shall name Lessee as the insured and shall be endorsed to name Lessor and the Agent (on behalf of the Secured Parties) as mortgagees a named additional insured and loss payees, as their interests may appearpayee; provided, so long as no Lease Event of Default exists, any and all losses shall be adjusted by Lessee, and any loss payable under the insurance policies required by this Section for losses up to $1,000,000 will be paid to Lessee.

Permanent Hazard and Other Insurance. (a) During the Term, Lessee shall keep the Property insured against all risk of physical loss or damage by fire and other risks covered under an all risk, extended coverage or “"special form” " policy of insurance and shall maintain builders’ ' risk insurance during construction of any Improvements or Modifications in each case in amounts no less than the Termination Value Property Cost of the Property from time to time and on terms that (i) are no less favorable than insurance covering other similar properties owned by Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by Lessee. The policies shall name Lessee as the insured and shall be endorsed to name Lessor and the Agent (on behalf of the Secured Parties) as additional insureds, mortgagees and loss payees, as their interests may appear; provided, so long as no Lease Event of Default exists, any and all losses shall be adjusted by Lessee, and any loss payable under the insurance policies required by this Section for losses up to $1,000,000 1,650,000 will be paid to Lessee.

Permanent Hazard and Other Insurance. (a) During the TermTerm for each Property, Lessee shall keep the such Property insured against all risk of physical loss or damage by fire and other risks covered under an all risk, extended coverage or “special form” policy of insurance and shall maintain builders’ ' risk insurance during construction of any Improvements or Modifications in each case in amounts no less than the Termination Value from time then current replacement value of such Property (assuming that such Property was in the condition required by the terms of this Lease immediately prior to time such loss) and on terms that (i) are no less favorable than insurance covering other similar properties owned by Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by Lessee. The policies shall name Lessee as the insured and shall be endorsed to name Lessor and the Agent (on behalf of the Secured PartiesLenders and the Holders) as mortgagees a named additional insured and lender loss payeespayee, as to the extent of their interests may appearrespective interests; provided, so long as no Lease Event of Default exists, any and all losses shall be adjusted by Lessee, and any loss payable under the insurance policies required by this Section for losses up to $1,000,000 per loss will be paid to Lessee.

Permanent Hazard and Other Insurance. (a) During the TermTerm for each Property with respect to which a particular Lessee has executed a Lease Supplement, such Lessee shall keep the such Property insured against all risk of physical loss or damage by fire and other risks covered under an all risk, extended coverage or “special form” policy of insurance and shall maintain builders’ ' risk insurance during construction of any Improvements or Modifications in each case in amounts no less than the Termination Value Property Cost of such Property from time to time and on terms that (i) are no less favorable than insurance covering other similar properties owned by such Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by such Lessee. The policies shall name such Lessee as the insured and shall be endorsed to name Lessor and the Agent (on behalf of the Secured PartiesLenders and the Holders) as mortgagees a named additional insured and loss payeespayee, as to the extent of their interests may appearrespective interests; provided, so long as no Lease Event of Default exists, any and all losses shall be adjusted by Lessee, and any loss payable under the insurance policies required by this Section for losses up to $1,000,000 will be paid to Lessee.

Permanent Hazard and Other Insurance. (a) During the TermTerm for each Property, Lessee shall keep the such Property insured against all risk of physical loss or damage by fire and other risks covered under an all risk, extended coverage or “special form” policy of insurance generally insured against by similarly situated entities and shall maintain builders’ ' risk insurance during construction of any Improvements or Modifications in each case in amounts no less than the Termination Value Property Cost of such Property from time to time and on terms (including with regard to deductibles and self insurance retentions) that (i) are no less favorable than insurance covering other similar properties owned by Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by Lessee. The policies shall name Lessee as the insured and shall be endorsed to name Lessor and the Agent (on behalf of the Secured Parties) as mortgagees a named additional insured, mortgagee and loss payees, as their interests may appearpayee; provided, so long as no Lease Event of Default exists, any and all losses shall be adjusted by Lessee, and any loss payable under the insurance policies required by this Section for losses up to $1,000,000 will be paid to Lessee.

Permanent Hazard and Other Insurance. (a) During the TermTerm for each Property, Lessee shall keep the such Property insured against all risk of physical loss or damage by fire and other risks covered under an all risk, extended coverage or “special form” policy of insurance and shall maintain builders’ ' risk insurance during construction of any Improvements or Modifications in each case in amounts no less than the Termination Value from time then current replacement value of such Property (assuming that such Property was in the condition required by the terms of this Lease immediately prior to time such loss) and on terms that (i) are no less favorable than insurance covering other similar properties owned by Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by Lessee; provided, Lessee shall have no obligation to maintain earthquake insurance. The policies shall name Lessee as the insured and shall be endorsed to name Lessor and the Agent (on behalf of the Secured PartiesLenders and the Holders) as mortgagees a named additional insured and loss payeespayee, as to the extent of their interests may appearrespective interests; provided, so long as no Lease Event of Default exists, any and all losses shall be adjusted by Lessee, and any loss payable under the insurance policies required by this Section for losses up to $1,000,000 5,000,000 will be paid to Lessee.