Rental Value Insurance. Tenant shall obtain and maintain in force at all times during the Term hereof, at its own cost and expense, a policy of rental value insurance against loss of income derived from the operation of the Premises due to the risks referred to in Section 9.1 in an amount not less than the Annual Base Rent for one Lease Year due hereunder. Tenant may, at its election, carry such insurance as a coverage contained in a business interruption insurance policy.
Rental Value Insurance a. The insurance shall cover loss of rents resulting from an insured cause of loss under a “special form” or “all risks” policy.
Rental Value Insurance. On and after the Rent Commencement Date and at all times during the Lease Term, Tenant shall keep and maintain, in the name of Landlord, with loss payable to Landlord and any Fee Mortgagee, as their interests may appear, rental value insurance covering risk of loss due to the occurrence of any of the hazards described in Section 12.02, in an amount not less than the annual Base Rent, plus the estimated annual taxes and assessments described in Section 8.01 hereof and the annual premiums for the insurance described in this Article 12 (other than the builder's risk insurance described in Section 12.03).
Rental Value Insurance. Kitty Hawk agrees to insure, from and after the Completion Date(1) the Leased Premises in the amount and with the coverage at least equal to the Required Rental Value Insurance Coverage by means of a policy or policies issued by reputable insurance companies, notwithstanding the premium costs or in the event at any time such policies are not available, then either (a) such insurance with such limits or amounts or other provisions as then obtainable for corporations of the State leasing buildings under leases similar to this Lease, or (b) a plan, in compliance with the law of the State and satisfactory to the Authority and Building Corp., which provides protection similar to the protection provided herein against the inability of Kitty Hawk to meet liabilities of Kitty Hawk that would otherwise have been satisfied by the proceeds of the rent or rental value insurance. In the case of either clause (a) or (b) of the preceding sentence, the limits, amounts and other provisions of such insurance or plan shall be such as are recommended by a recognized qualified independent Insurance Consultant satisfactory to the Authority and Building Corp. and who shall annually, or for such longer interval specified the Authority and/or Building Corp., review such plan and advise the Authority and Building Corp. of changes required therein in order to adequately protect the financial position of Kitty Hawk, and the Authority and Building Corp. shall be entitled to rely upon such advice to make its determination as to what is obtainable or most nearly provides protection similar to that herein required. Kitty Hawk may also insure such property under a blanket insurance policy or policies which cover not only such property but other properties. After completion of the Project, Kitty Hawk shall be responsible for all insurance obligations required under the terms of this Building Lease.
Rental Value Insurance. Lessor shall have the right and option in his sole discretion throughout the term hereof to obtain rental value insurance covering losses of up to 100% of the rental income hereunder from perils required to be insured against hereunder by Lessee, in amounts equal to at least six (6) months of rental income under this Lease, such insurance to be obtained from such insurance company as Lessor shall select in its sole discretion and any such policy shall name Lessor and/or Lessor’s mortgagee as the insureds thereunder. Lessee agrees to pay directly to such insurer or, at Lessor’s option, to reimburse Lessor, the full amount of all premiums for such rental insurance, immediately upon presentation to Lessee of a xxxx or invoice for same.
Rental Value Insurance. Commencing on the date hereof and continuing throughout the Term, Landlord may, at its option, keep in force a policy or policies with loss payable to Landlord and its lenders, insuring the loss of the full rental and other charges payable by Tenant to Landlord under this Lease for one (1) year (including all real estate taxes, insurance costs, and any scheduled rental increases). Said insurance shall provide that the period of indemnity for such coverage shall be extended beyond the date of the completion of repairs or replacement of the Premises if necessary to provide one full year's loss of rental revenues from the date of any such loss. Said insurance shall contain an agreed valuation provision in lieu of any co-insurance clause, and the amount of coverage shall be adjusted annually to reflect the projected rental income, property taxes, insurance premium costs, and other expenses, if any, otherwise payable by Tenant for the following twelve (12) month period.
Rental Value Insurance. Tenant shall obtain a rent or rental value insurance policy in amounts as required by the Building Lease. Such policy shall insure against loss of Minimum Monthly Rent during a period in which the Minimum Monthly Rent of Landlord is abated as a result of physical loss or damage to the Buildings on the Premises, however caused, with such exceptions only as are ordinarily required by insurers of buildings or facilities of a similar type.
