Common use of Renewals, Lapses or Deficiencies Clause in Contracts

Renewals, Lapses or Deficiencies. Tenant shall, at least thirty (30) days prior to the expiration of such policies, furnish Landlord with renewal certificates of insurance or renewal binders. Should Tenant fail to provide to Landlord the renewals or renewal binders, or in the event of a lapse or deficiency of any insurance coverage specified herein for any reason, Landlord may immediately replace the deficient insurance coverage with a policy of insurance covering the Premises of the type and in the limits set forth above. Upon written notice from Landlord of the placement of insurance, Tenant shall immediately pay to Landlord, as additional rent, an amount equal to the total cost of premiums and expense of such insurance placement. Tenant shall not do or permit to be done anything, which shall invalidate the insurance policies. If Tenant does or permits to be done anything which shall increase the cost of the insurance policies, then upon Landlord’s demand Tenant shall immediately pay to Landlord, as additional rent, an amount equal to the additional premiums attributable to any acts or omissions or operations of Tenant causing the increase in the cost of insurance.

Appears in 3 contracts

Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.), Commercial Ground Lease (Palace Entertainment Holdings, Inc.), Commercial Ground Lease (Palace Entertainment Holdings, Inc.)

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Renewals, Lapses or Deficiencies. Tenant shall, at least thirty (30) days prior to the expiration of such policies, furnish Landlord with renewal certificates of insurance or renewal binders. Should Tenant fail to provide to Landlord the renewals or renewal binders, or in the event of a lapse or deficiency of any insurance coverage specified herein for any reason, Landlord may immediately replace the deficient insurance coverage with a policy of insurance covering the Premises Properties of the type and in the limits set forth above. Upon written notice from Landlord of the placement of insurance, Tenant shall immediately pay to Landlord, as additional rent, an amount equal to the total cost of premiums and expense of such insurance placement. Tenant shall not do or permit to be done anything, which anything that shall invalidate the insurance policies. If Tenant does or permits to be done anything which shall increase the cost of the insurance policies, then upon Landlord’s demand Tenant shall immediately pay to Landlord, as additional rent, an amount equal to the additional premiums attributable to any acts or omissions or operations of Tenant causing the increase in the cost of insurance.

Appears in 2 contracts

Samples: Master Lease Agreement, Master Lease Agreement (Franklin Covey Co)

Renewals, Lapses or Deficiencies. Tenant shall, at least thirty (30) days prior to the expiration of such policies, furnish Landlord with renewal certificates of insurance or renewal binders. Should Tenant fail to provide to Landlord the renewals or renewal binders, or in the event of a lapse or deficiency of any insurance coverage specified herein for any reason, Landlord shall notify Tenant of such lapse and, if not timely cured, Landlord may immediately replace the deficient insurance coverage with a policy of insurance covering the Premises of the type and in the limits set forth above. Upon written notice from Landlord of the placement of insurance, Tenant shall immediately pay to Landlord, as additional rent, an amount equal to reimburse Landlord for the total cost of premiums and expense of such insurance placement. Tenant shall not do or permit to be done anything, anything which shall invalidate the insurance policies. If Tenant does or permits to be done anything which shall increase the cost of the insurance policies, then upon Landlord’s demand Tenant shall immediately pay to Landlord, as additional rent, an amount equal to the reimburse Landlord for any additional premiums charged to Landlord as a consequence of its taking out such policies attributable to any acts or omissions or operations of Tenant causing the increase in the cost of insurance.

Appears in 2 contracts

Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.), Commercial Ground Lease (Palace Entertainment Holdings, Inc.)

Renewals, Lapses or Deficiencies. Tenant shall, at least thirty within ten (3010) business days prior to the expiration of such policies, furnish Landlord with renewal certificates of insurance or renewal binders. Should Tenant fail to provide to Landlord the renewals or renewal binders, or in the event of a lapse or deficiency of any insurance coverage specified herein for any reason, Landlord may immediately replace the deficient insurance coverage with a policy of insurance covering the Premises Properties of the type and in the limits set forth above. Upon written notice from Landlord of the placement of insurance, Tenant shall immediately pay to Landlord, as additional rentAdditional Rent, an amount equal to the total cost of premiums and expense of such insurance placementplacement plus reasonable handling fees. Tenant shall not do or permit to be done anything, which anything that shall invalidate the insurance policies. If Tenant does or permits to be done anything which shall increase the cost of the insurance policies, then upon Landlord’s demand Tenant shall immediately pay to Landlord, as additional rentAdditional Rent, an amount equal to the additional premiums attributable to any acts or omissions or operations of Tenant causing the increase in the cost of insurance.

Appears in 1 contract

Samples: Master Lease Agreement (iMedia Brands, Inc.)

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Renewals, Lapses or Deficiencies. Tenant shall, at least thirty shall within ten (3010) days prior to the expiration of such policies, furnish Landlord with renewal certificates of insurance or renewal binders. Should Tenant fail to provide to Landlord the renewals or renewal binders, or in the event of a lapse or deficiency of any insurance coverage specified herein for any reason, Landlord may immediately replace the deficient insurance coverage with a policy of insurance covering the Premises of the type and in the limits set forth above. Upon written notice from Landlord of the placement of insurance, Tenant shall immediately pay to Landlord, as additional rentAdditional Rent, an amount equal to the total cost of premiums and expense of such insurance placementplacement plus reasonable handling fees. Tenant shall not do or permit to be done anything, anything which shall invalidate the insurance policies. If Tenant does or permits to be done anything which shall increase the cost of the insurance policies, then upon Landlord’s 's demand Tenant shall immediately pay to Landlord, as additional rent, an amount equal to the additional premiums attributable to any acts or omissions or operations of Tenant causing the increase in the cost of insurance.

Appears in 1 contract

Samples: Land and Building Lease Agreement (Intricon Corp)

Renewals, Lapses or Deficiencies. Tenant shall, at least thirty (30) days prior to the expiration of such policiesthe insurance policies required hereunder, furnish Landlord with renewal certificates of insurance or renewal bindersbinders for same. Should Tenant fail to provide to Landlord the renewals renewal certificate or renewal binders, or in the event of a lapse or deficiency of any insurance coverage specified herein for any reason, Landlord may immediately replace the deficient insurance coverage with a policy of insurance covering the Premises of the type and in the limits set forth above. Upon written notice from Landlord of the placement of insurance, Tenant shall immediately pay to Landlord, as additional rentAdditional Rent, an amount equal to the total cost of the premiums and expense of such insurance placementplacements; but Tenant will nevertheless be in default hereunder (such failure to be deemed an "Event of Default") until Landlord is fully reimbursed for all such costs. Tenant shall not do or permit to be done anything, anything which shall invalidate the insurance policies. If Tenant does or permits to be done anything which shall increase the cost of the insurance policies, then upon Landlord’s demand 's demand, Tenant shall immediately pay to Landlord, as additional rentAdditional Rent, an amount equal to the additional premiums attributable to any acts or omissions or operations of Tenant causing the increase in the cost of insurancecost.

Appears in 1 contract

Samples: Lease Agreement (Solo Serve Corp)

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