Common use of Policy Form, Content And Insurer Clause in Contracts

Policy Form, Content And Insurer. 10.5.1 All insurance required by the provisions of this Lease shall be carried only with responsible insurance companies licensed to do business in this state having a policyholder’s rating from A. M. Best Company of at least B+. If, during the Term of this Lease, such rating service ends, then Landlord shall select another comparable rating service which most closely approximates Best’s Insurance Rating, with the view toward maintaining the same quality standard for determining a “secure and acceptable insurance company.” If, during the Term of this Lease, Tenant contends that the rating required above in order for an insurance company to be deemed a secure and acceptable insurance company is unnecessarily high and should be lower than the rating hereinabove set forth, Landlord will reasonably consider such a request by Tenant to reduce the required rating used for determining a secure and acceptable insurance company. In the event of a dispute between Landlord and Tenant with respect to the appropriate rating level necessary to insure a secure and acceptable insurance company, such matter shall be submitted to binding arbitration within twenty (20) days of such dis- pute, and the Parties shall agree upon an individual considered to be expert in the rating of insurance companies who shall act as an arbiter of such dispute in accordance of the rules of the American Arbitration Association (“AAA”). If the parties fail to agree upon such an arbiter within said twenty (20) day period, then the same shall be designated by the chief officer of the Los Angeles Chapter of the AAA. The arbiter shall render his decision within sixty (60) days of his appointment. The fees of the arbiter shall be paid equally by the parties. 10.5.2 All such policies required by the provisions of this Lease shall be nonassessable and shall contain language, to the extent obtainable, to the effect that (i) any loss shall be payable notwithstanding any act or negligence of Landlord that might otherwise result in a forfeiture of the insurance, (ii) the insurer waives the right of subro- gation against Landlord and against Landlord’s Representatives, (iii) the policies are primary and noncontributing with any insurance that may be carried by Landlord,

Policy Form, Content And Insurer. 10.5.1 All insurance required by the provisions of this Lease Operating Agreement shall be carried only with responsible insurance companies licensed to do business in this state having a policyholder’s rating from A. M. Best Company of at least B+A+7. If, during the Term term of this LeaseOperating Agreement, such rating service ends, then Landlord Harbor District shall select another comparable rating service which most closely approximates A.M. Best’s Insurance Rating, with the view toward maintaining the same quality standard for determining a “secure and acceptable insurance company.” If, during the Term term of this LeaseOperating Agreement, Tenant Operator contends that the rating required above in order for an insurance company to be deemed a secure and acceptable insurance company is unnecessarily high and should be lower than the rating hereinabove set forth, Landlord Harbor District will reasonably consider such a request by Tenant Operator to reduce the required rating used for determining a secure and acceptable insurance company. In the event of a dispute between Landlord and Tenant with respect to the appropriate rating level necessary to insure a secure and acceptable insurance company, such matter shall be submitted to binding arbitration within twenty (20) days of such dis- pute, and the Parties shall agree upon an individual considered to be expert in the rating of insurance companies who shall act as an arbiter of such dispute in accordance of the rules of the American Arbitration Association (“AAA”). If the parties fail to agree upon such an arbiter within said twenty (20) day period, then the same shall be designated by the chief officer of the Los Angeles Chapter of the AAA. The arbiter shall render his decision within sixty (60) days of his appointment. The fees of the arbiter shall be paid equally by the parties. 10.5.2 All such policies required by the provisions of this Lease Operating Agreement shall be nonassessable non- assessable and shall contain language, to the extent obtainable, to the effect that that (i) any loss shall be payable notwithstanding any act or negligence of Landlord Harbor District that might otherwise result in a forfeiture of the insurance, (ii) the insurer waives the right of subro- gation subrogation against Landlord Harbor District and against LandlordHarbor District’s Representatives, (iii) the policies are primary and noncontributing with any insurance that may be carried by Landlord,Harbor District, (iv) the policies cannot be canceled or materially altered except after ninety (90) days’ notice by the insurer to Harbor District, and (v) Harbor District shall not be liable for any premiums or assessments. All such insurance shall have deductibility limits reasonably satisfactory to Harbor District. Upon Operator’s execution and delivery hereof, Operator shall deliver to Harbor District either certificates of insurance evidencing the insurance coverage specified in this Section or a binder for such insurance, in a form satisfactory to Harbor District, providing for the commencement of such insurance coverage as of the effective date of this Operating Agreement. Operator shall thereafter deliver to Harbor District certificates of insurance evidencing the insurance coverage required by this Section upon renewal of any insurance policy. Operator may provide any insurance required under this Operating Agreement by blanket insurance covering the Premises and any other location or locations, provided that the specific policy of blanket insurance proposed by Operator is reasonably acceptable to Harbor District. Harbor District’s review of such policy of blanket insurance shall be only for the purpose of determining if it provides the coverage required by this Operating Agreement and does not adversely affect Harbor District’s interest in the Premises or its rights hereunder. All policies shall name Harbor District and its successors and assignors as additional insureds.

Policy Form, Content And Insurer. 10.5.1 All insurance required by the provisions of this Lease shall be carried only with responsible insurance companies licensed to do business in this state having a policyholder’s rating from A. M. Best Company of at least B+A7. If, during the Term term of this Lease, such rating service ends, then Landlord District shall select another comparable rating service which most closely approximates A.M. Best’s Insurance Rating, with the view toward maintaining the same quality standard for determining a “secure and acceptable insurance company.” If, during the Term term of this Lease, Tenant Lessee contends that the rating required above in order for an insurance company to be deemed a secure and acceptable insurance company is unnecessarily high and should be lower than the rating hereinabove set forth, Landlord District will reasonably consider such a request by Tenant Lessee to reduce the required rating used for determining a secure and acceptable insurance company. In Upon Lessee’s execution and delivery hereof, Lessee shall deliver to District either certificates of insurance evidencing the event insurance coverage specified in this Section or a binder for such insurance, in a form satisfactory to District, providing for the commencement of a dispute between Landlord such insurance coverage as of the effective date of this Lease. Lessee shall thereafter deliver to District certificates of insurance evidencing the insurance coverage required by this Section upon renewal of any insurance policy. Lessee may provide any insurance required under this Lease by blanket insurance covering the Premises and Tenant with respect any other location or locations, provided that the specific policy of blanket insurance proposed by Lessee is reasonably acceptable to the appropriate rating level necessary to insure a secure and acceptable District. District’s review of such policy of blanket insurance company, such matter shall be submitted to binding arbitration within twenty (20) days only for the purpose of such dis- pute, determining if it provides the coverage required by this Agreement and the Parties shall agree upon an individual considered to be expert does not adversely affect District’s interest in the rating of insurance companies who Premises or its rights hereunder. All policies shall act name District and its successors and assigns as an arbiter of such dispute in accordance of the rules of the American Arbitration Association (“AAA”). If the parties fail to agree upon such an arbiter within said twenty (20) day period, then the same shall be designated by the chief officer of the Los Angeles Chapter of the AAA. The arbiter shall render his decision within sixty (60) days of his appointment. The fees of the arbiter shall be paid equally by the partiesadditional insureds. 10.5.2 All such policies required by the provisions of this Lease shall be nonassessable and shall contain language, to the extent obtainable, to the effect that (i) any loss shall be payable notwithstanding any act or negligence of Landlord that might otherwise result in a forfeiture of the insurance, (ii) the insurer waives the right of subro- gation against Landlord and against Landlord’s Representatives, (iii) the policies are primary and noncontributing with any insurance that may be carried by Landlord,