Common use of Policies and Endorsements Clause in Contracts

Policies and Endorsements. Where permitted, all insurance provided under this Section shall name Manager, PFIC, each member or partner of PFIC as additional insureds on all liability policies and as loss payee on all property and crime policies, as their interests may appear. Specifically, without limitation, any policies providing for business interruption insurance shall name Manager as loss payee with respect to its Management Fee. If either Manager or PFIC retains contractors to perform work at or with respect to the Lounge under contracts requiring the contractor to provide insurance coverage for the benefit of the contracting party, all such insurance shall name both Manager and PFIC as additional insureds, and any contractor indemnification provisions in any such contracts shall be provided for the benefit of both Manager and PFIC. The party procuring such insurance shall deliver to the other party certificates of insurance, or in the case of insurance about to expire, shall deliver evidence of renewal in certificate form with respect to renewal policies prior to the date of such expiration. To the extent reasonably obtainable, all policies of insurance required to be obtained under this Section shall have attached thereto an endorsement that such policy shall not be cancelled or materially changed without at least sixty (60) days prior notice to PFIC, Manager, or any additional insureds. Any insurance procured by PFIC, or any third party contractor, which names Manager as an additional insured shall be endorsed to provide that its coverage shall be primary to any other valid and collectible insurance policies available to Manager.

Policies and Endorsements. (a) Where permitted, all liability insurance provided for under this Section Article XII shall name Manager, PFIC, each member or partner of PFIC as additional insureds on all liability policies Xxxxxx and as loss payee on all property and crime policies, as their interests may appear. Specifically, without limitation, any policies providing for business interruption insurance shall name Manager as loss payee with respect to its Management Fee. If either Manager or PFIC retains contractors to perform work at or with respect to named insureds, and Xxxxxx, the Lounge under contracts requiring Landlord, and, if required, the contractor to provide insurance coverage for the benefit of the contracting partyFranchisor, all such insurance shall name both Manager and PFIC as additional insureds. All liability policies shall be written in such a manner so as to protect both Xxxxxx and Manager as named insureds, whether by Manager’s status as Xxxxxx’s “real estate manager” or otherwise. Each of Manager and Lessee shall be insured for occurrences resulting from their own negligence as well as the negligence of the other. This protection shall extend to their affiliates, employees, and any contractor indemnification provisions in any such contracts shall be agents. With respect to third party liability, it is understood that the liability insurance provided for under this Article XII is designed to provide primary coverage for all such risks, protecting Xxxxxx and Manager. Said policies are intended to provide coverage and protection to both Lessee and Manager regardless of whether, as to a particular matter in accordance with the benefit provisions of both Manager this Agreement, either party owes an obligation of indemnity to the other, as the parties’ intent is that these policies be the primary mechanism through which such indemnity is provided for all insurable claims and PFIClosses. The party procuring such insurance shall deliver to the other party certificates of insuranceinsurance with respect to all policies so procured, or including existing, additional and renewal policies and, in the case event of insurance about to expire, shall deliver evidence certificates of renewal in certificate form insurance with respect to the renewal policies not less than ten (10) days prior to the date respective dates of expiration and, upon request, shall provide full copies of each such expiration. To the extent reasonably obtainable, all policy. (b) All policies of insurance required to be obtained provided for under this Section Article XII shall, to the extent obtainable, be with insurance companies licensed or authorized to do business in the state in which the Premises are located, with an A.M. Best’s rating of no less that A- (VII) (or such higher rating if so required by any Holder, Landlord or Franchisor), and shall have attached thereto an endorsement that such policy shall not be cancelled or materially changed without at least sixty thirty (6030) days days’ prior written notice to PFICLessee. To the full extent the same is available, Manager, or any additional insureds. Any insurance procured by PFIC, or any third party contractor, which names Manager as an additional insured shall be endorsed to provide that its coverage shall be primary to any other valid and collectible all insurance policies available obtained pursuant to Managerthis Article XII shall contain a standard waiver of subrogation endorsement, and each party hereby waives any right that it may have to recover from or against the other for any claim covered by such insurance.

Policies and Endorsements. Where permitted, all insurance provided under this Section Article IX shall name ManagerPRG, PFICOwner, each member or partner of PFIC Owner, and each Lender as additional insureds on all liability policies and as loss payee on all property and crime policies, as their interests may appear. Specifically, without limitation, any policies providing for business interruption insurance shall name Manager PRG as loss payee additional insured with respect to its Management FeeFees. If either Manager PRG or PFIC retains Owner shall ever retain contractors to perform work at or with respect to the Lounge Hotel under contracts requiring the contractor to provide insurance coverage for the benefit of the contracting party, all such insurance shall name both Manager PRG and PFIC Owner as additional insureds, and any contractor indemnification provisions in any such contracts shall be provided for the benefit of both Manager PRG and PFICOwner. The party procuring such insurance shall deliver to the other party certificates original policies or copies thereof certified as true and accurate by an officer of insurancethe party procuring the same, or including existing, additional and renewal policies, and, in the case of insurance about to expire, shall deliver evidence of renewal in certificate binder form with respect to renewal policies not later than thirty (30) days prior to the respective date of such expiration, and thereafter shall deliver policies or copies thereof as soon as the same are reasonably available. To the extent reasonably obtainable, all policies of insurance required to be obtained under this Section Article VIII shall have attached thereto an endorsement that such policy shall not be cancelled or materially changed without at least sixty (60) days days’ prior written notice to PFICOwner, ManagerPRG, the Lenders or any additional insureds. Any insurance procured by PFICOwner, or any third party contractor, which names Manager PRG as an additional insured shall be endorsed to provide that its coverage shall be primary to any other valid and collectible insurance policies available to ManagerPRG.

Policies and Endorsements. (a) Where permitted, all liability insurance provided for under this Section Article XII shall name Manager, PFIC, each member or partner of PFIC as additional insureds on all liability policies Lessee and as loss payee on all property and crime policies, as their interests may appear. Specifically, without limitation, any policies providing for business interruption insurance shall name Manager as loss payee with respect to its Management Fee. If either Manager or PFIC retains contractors to perform work at or with respect to named insureds, and Holder, the Lounge under contracts requiring Landlord, and, if required, the contractor to provide insurance coverage for the benefit of the contracting partyFranchisor, all such insurance shall name both Manager and PFIC as additional insureds. All liability policies shall be written in such a manner so as to protect both Lessee and Manager as named insureds, whether by Manager’s status as Lessee’s “real estate manager” or otherwise. Each of Manager and Lessee shall be insured for occurrences resulting from their own negligence as well as the negligence of the other. This protection shall extend to their affiliates, employees, and any contractor indemnification provisions in any such contracts shall be agents. With respect to third party liability, it is understood that the liability insurance provided for under this Article XII is designed to provide primary coverage for all such risks, protecting Lessee and Manager. Said policies are intended to provide coverage and protection to both Lessee and Manager regardless of whether, as to a particular matter in accordance with the benefit provisions of both Manager this Agreement, either party owes an obligation of indemnity to the other, as the parties’ intent is that these policies be the primary mechanism through which such indemnity is provided for all insurable claims and PFIClosses. The party procuring such insurance shall deliver to the other party certificates of insuranceinsurance with respect to all policies so procured, or including existing, additional and renewal policies and, in the case event of insurance about to expire, shall deliver evidence certificates of renewal in certificate form insurance with respect to the renewal policies not less than ten (10) days prior to the date respective dates of expiration and, upon request, shall provide full copies of each such expiration. To the extent reasonably obtainable, all policy. (b) All policies of insurance required to be obtained provided for under this Section Article XII shall, to the extent obtainable, be with insurance companies licensed or authorized to do business in the state in which the Premises are located, with an A.M. Best’s rating of no less that A- (VII) (or such higher rating if so required by any Holder, Landlord or Franchisor), and shall have attached thereto an endorsement that such policy shall not be cancelled or materially changed without at least sixty thirty (6030) days days’ prior written notice to PFICLessee. To the full extent the same is available, Manager, or any additional insureds. Any insurance procured by PFIC, or any third party contractor, which names Manager as an additional insured shall be endorsed to provide that its coverage shall be primary to any other valid and collectible all insurance policies available obtained pursuant to Managerthis Article XII shall contain a standard waiver of subrogation endorsement, and each party hereby waives any right that it may have to recover from or against the other for any claim covered by such insurance.