Rental Value. Lessor shall also obtain and keep in force a policy or policies in the name of Lessor with loss payable to Lessor and any Lender, insuring the loss of the full Rent for one year with an extended period of indemnity for an additional 180 days ("RENTAL VALUE INSURANCE"). Said insurance shall contain an agreed valuation provision in lieu of any coinsurance clause, and the amount of coverage shall be adjusted annually to reflect the projected Rent otherwise payable by Lessee, for the next 12-month period. Common Area Operating Expenses shall include any deductible amount in the event of such loss.
Appears in 2 contracts
Samples: Standard Multi Tenant Office Lease (Eye Dynamics Inc), Standard Multi Tenant Office Lease (Eye Dynamics Inc)
Rental Value. Lessor shall also obtain and keep in force a policy or policies in the name of Lessor with loss payable to Lessor and any Lender, insuring the loss of the full Rent for one year with an extended period of indemnity for an additional 180 160 days ("RENTAL VALUE INSURANCE"). Said insurance Insurance shall contain an agreed valuation provision in lieu of any coinsurance clause, and the amount of coverage shall be adjusted annually to reflect the projected Rent otherwise payable by Lessee, Lessee for the next 12-12 month period. Common Area Operating Expenses shall include any deductible amount in the event of such loss.
Appears in 2 contracts
Samples: Standard Industrial/Commercial Multi Tenant Lease (Ironclad Performance Wear Corp), Lease Agreement (Ironclad Performance Wear Corp)
