Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee...
Property Insurance. It is acknowledged that the Landlord/Property Management Company/ Agent shall not be liable for any loss of personal property to the Tenant, as a result of an infestation of bedbugs. Xxxxxx agrees to obtain personal property insurance to cover such losses.
Property Insurance. In accordance with Section 12, throughout the term of this Lease and any extensions thereof, the Lessee shall obtain and pay for fire and extended coverage casualty insurance for the building and other improvements on the leased Premises, with such comprehensive or so called "all risk" endorsements and in such amounts as the Lessor may, from time to time, deem reasonably necessary, and shall show the Lessee and the Lessor, and the Lessor’s lender, if any, as the insured thereon. The Lessee shall at all times keep such insurance in force and provide the Lessor with copies of said policies or certificates evidencing said coverage. The policies shall be in form and content reasonably required by the Lessor and shall be issued by an insurance company approved by the Lessor and shall contain a clause that the insurer will not cancel, materially modify, or fail to renew the insurance without first giving the Lessor thirty (30) days’ prior written notice. If the Lessee fails to keep said insurance in effect, the Lessee shall be in default hereunder and the Lessor may, at its option, immediately obtain insurance coverage as provided for herein and charge the Lessee for the cost thereof.
Property Insurance. The Company will carry or cause to be carried at all times, at no expense to any Additional Insured, with Approved Insurers insurance covering physical damage to the Pledged Spare Parts providing for the reimbursement of the actual expenditure incurred in repairing or replacing any damaged or destroyed Pledged Spare Part or, if not repaired or replaced, for the payment of the amount it would cost to repair or replace such Pledged Spare Part, on the date of loss, with proper deduction for obsolescence and physical depreciation. The Collateral Agent shall be named as a loss payee as its interests may appear. Any policies of insurance carried in accordance with this Annex B covering the Pledged Spare Parts and any policies taken out in substitution or replacement for any such policies shall provide that (A) all insurance proceeds up to 110% of the outstanding Accreted Principal (the “Debt Balance”) paid under such policies as a result of the occurrence of an Event of Loss with respect to any Pledged Spare Part involving proceeds in excess of the Threshold Amount will be paid to the Collateral Agent, it being agreed that the Collateral Agent shall pay the amount of such proceeds to the Company or its order to the extent required under Section 3.06(d) and (B) the entire amount of any insurance proceeds not involving an Event of Loss with respect to any Pledged Spare Parts or involving proceeds of the Threshold Amount or less and the amount of insurance proceeds in excess of the Debt Balance shall be paid to the Company or its order; provided that if a Special Default or an Event of Default shall have occurred and be continuing and the insurers have been notified thereof by the Collateral Agent or the Trustee, the amount of any proceeds of any loss with respect to the Pledged Spare Parts shall be paid to the Collateral Agent.
Property Insurance. At all times, Lessor shall maintain or cause to be maintained the insurance below described for the benefit of Lessor and Lessee, against the following risks:
(a) Loss or damage from all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, and such other risks as may be embraced within the form of extended coverage insurance, with "comprehensive special" form including endorsement, sprinkler leakage, insuring, at all times, the full replacement cost of any buildings and improvements from time to time erected on the Premises, including all Lessee Improvements. Lessor specifically agrees that the insurance policy shall contain an endorsement or appropriate provision which specifically states that the amount of coverage shall at all times be for the actual full replacement cost of the buildings and other improvements on the replacement cost of the Property, regardless of the stated dollar amount of the policy. If any of the risks covered by the currently employed customary comprehensive general endorsement on fire policies are hereafter excluded from such endorsement, but are insurable nevertheless by separate policies regularly issued by fire or casualty companies doing business in the State of Massachusetts, then the reference above to "risks as may be embraced within the standard form of extended coverage insurance" includes insurance coverage by such separate policy of Policies;
(b) Loss or damage by explosion of steam boiler, air conditioning equipment, pressure vessels, miscellaneous similar apparatus, or similar apparatus, now or hereafter installed on the Premises in such limits with respect to any one accident as may reasonably be determined by Lessor from time to time, but not less than the full replacement cost of any buildings and improvements from time to time erected on the property;
(c) Such other insurance and in such amounts as may from time to time be reasonably determined to be necessary by Lessor;
(d) Lessee shall pay within thirty (30) days of receipt of invoice, its pro-rata share of all insurance required by this Section 2.
Property Insurance. Tenant shall, at Tenant's expense, keep the Improvements, Fixtures, and other components of the Leased Property insured against the following risks:
(a) Loss or damage by fire, vandalism and malicious mischief, sprinkler leakage and all other physical loss perils commonly covered by "All Risk" insurance in an amount not less than one hundred percent (100%) of the then full replacement cost thereof (as hereinafter defined). Such policy shall include an agreed amount endorsement if available at a reasonable cost. Such policy shall also include endorsements for contingent liability for operation of building laws, demolition costs, and increased cost of construction.
(b) Loss or damage by explosion of steam boilers, pressure vessels, or similar apparatus, now or hereafter installed on the Leased Property, in commercially reasonable amounts acceptable to Landlord.
(c) Loss of rent under a rental value or business interruption insurance policy covering risk of loss during the first six (6) months of reconstruction necessitated by the occurrence of any hazards described in Sections 4.01(a) or 4.01(b), above, and which causes an abatement of Rent as provided in Article X hereof, in an amount sufficient to prevent Landlord or Tenant from becoming a co-insurer, containing endorsements for extended period of indemnity and premium adjustment, and written with an agreed amount clause, if the insurance provided for in this clause (c) is available.
(d) If the Land is located in whole or in part within a designated flood plain area, loss or damage caused by flood in commercially reasonable amounts acceptable to Landlord.
(e) Loss or damage commonly covered by blanket crime insurance including employee dishonesty, loss of money orders or paper currency, depositor's forgery, and loss of property accepted by Tenant for safekeeping, in commercially reasonable amounts acceptable to Landlord.
(f) In connection with any repairs or rebuilding by Tenant under Article X hereof, Tenant shall maintain (or cause its contractor to maintain) appropriate builder's risk insurance covering any loss or casualty to the subject Improvements during the course of such repairs or rebuilding.
Property Insurance. District shall at all times from and after District’s acceptance of the Project, carry and maintain in force a policy of property insurance for 100% of the insurable replacement value with no coinsurance penalty, on the Site and the Project, together with all improvements thereon, under a standard “all risk” contract insuring against loss or damage. Developer shall be named as additional insureds or co-insureds thereon by way of endorsement. District shall have the right to procure the required insurance through a joint powers agency or to self-insure against such losses or portion thereof as is deemed prudent by District.
Property Insurance. All-risk, replacement cost property insurance to protect against loss of owned or rented equipment and tools brought onto and/or used on any Property by the Contractor.
Property Insurance. Borrower will keep the Improvements insured at all times against relevant physical hazards that may cause damage to the Mortgaged Property as Lender may require (“Property Insurance”). Required Property Insurance coverage may include any or all of the following:
(i) All Risks of Physical Loss. Insurance against loss or damage from fire, wind, hail, and other related perils within the scope of a “Special Causes of Loss” or “All Risk” policy, in an amount not less than the Replacement Cost of the Mortgaged Property.
Property Insurance. Special Form Insurance (which insurance shall not exclude flood or earthquake) in the amount of the full replacement cost of the Building, including, without limitation, any improvements, if any, made pursuant to Section 2.02 above, but excluding Tenant's Property and any other items required to be insured by Tenant pursuant to Section 8.04 above.
