Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to provide Landlord thirty (30) days’ prior written notice of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Upstream Bio, Inc.), Lease Agreement (Upstream Bio, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action; provided, however, that if such an endorsement is not available, Tenant shall provide Landlord with not less than ten (10) days’ prior written notice of any cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorychange in coverage. No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance50,000. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five ten (510) business days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Decibel Therapeutics, Inc.), Lease Agreement (Decibel Therapeutics, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be reasonably acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring the insurer an endorsement prohibiting cancellation, failure to provide Landlord renew, reduction of amount of insurance, or change in coverage without thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Twenty Five Thousand Dollars ($25,000) for commercial general liability insurance). Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time time, after the first twenty four (24) months of the Lease Term, to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. , The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five seven (57) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Proteon Therapeutics Inc), Lease Agreement (Proteon Therapeutics Inc)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or such proposed action if Tenant’s insurer will provide same; otherwise, Tenant shall promptly notify Landlord of any failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributoryreduction of amount of insurance, or material change in coverage). No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Flexion Therapeutics Inc), Lease Agreement (Flexion Therapeutics Inc)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content acceptable to LandlordLandlord in its reasonable discretion; (2) be primary and noncontributory; and (23) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000) 25,000 for liability insurance and $100,000 for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any Such deductibles and such self-insured retentions and any deductibles shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Amag Pharmaceuticals, Inc.), Lease Agreement (Amag Pharmaceuticals Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be reasonably acceptable in form and content to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty-Five Thousand and 00/100 Dollars ($25,000.00) with respect to liability insurance or One Hundred Thousand Dollars ($100,000100,000.00) for with respect to property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar uses in similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Carbon Black, Inc.), Lease Agreement (Carbon Black, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to provide Landlord thirty (30) days’ prior written notice of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,00025,000.00) for property insurance and TwentyFive Thousand Dollars ($25,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (SEMrush Holdings, Inc.), Lease Agreement (SEMrush Holdings, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring an endorsement providing that the insurer to shall provide Landlord at least thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or any cancellation, failure to renew. All commercial general liability, excess/umbrella liability and automobile liability reduction of amount of insurance policies shall be primary and noncontributoryor material change in coverage. No such policy shall contain any deductible or self-insured retention greater than (i) Twenty Five Thousand Dollars ($25,000.00) in the case of Tenant’s liability insurance, and (ii) One Hundred Thousand Dollars ($100,000100,000.00) for in the case of Tenant’s property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Care.com Inc), Lease Agreement (Care.com Inc)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the The Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by LandlordLandlord if such Guide is no longer published (the “Minimum Rating”). Notwithstanding the foregoing, if Tenant has insurance with an insurance company that met the Minimum Rating when the insurance was placed, but such insurance company then ceases to meet the Minimum Rating, Landlord agrees to discuss with Tenant whether or not Landlord will require Tenant to place such insurance with an alternative insurance company which does meet the Minimum Rating, but the decision of whether or not to permit Tenant to continue to provide insurance required hereunder with an insurance company which does not meet the Minimum Rating shall be made by Landlord in its sole but good faith discretion. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice as set forth in the Certificate of cancellation Insurance (by certified or failure to renew. All commercial general liabilityregistered mail, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributoryreturn receipt requested, or by fax or email) of such proposed action. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days business days’ notice (or fourteen (14) business days’ notice if there is an increase of insurance as set forth above) to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) business days (or fourteen (14) business days if there is an increase of insurance as set forth above) after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Akamai Technologies Inc), Lease Agreement (Akamai Technologies Inc)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 100,000 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 2 contracts
Samples: Lease Agreement (Fractyl Health, Inc.), Lease (Fractyl Health, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) shall be reasonably acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to provide . Tenant shall immediately notify Landlord thirty (30) days’ prior written notice of upon any cancellation or failure to renewrenew such insurance. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 100,000.00 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000.00 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “"A” " and are within a financial size category of not less than “"Class “X” " in the most current Best’s 's Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1I) be acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ ' prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurancethe maximum deductibles noted above. Any Such deductibles and such self-insured retentions shall be deemed to be “"insurance” " for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves The insurance required to be maintained by Tenant pursuant to this section may be carried under blanket insurance policies covering the right to use a thirdPremises and other properties owned or leased by Tenant, so long as such policies comply with this Lease. The coverage provided by such policies shall at all times meet the requirements of this Lease, without co-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further informationinsurance.
Appears in 1 contract
Samples: Sublease (Datawatch Corp)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to provide Landlord thirty (30) days’ prior written notice of cancellation or failure to renew. All commercial general liability, and excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) for 100,000.00 or property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000.00 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 25,000.00 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000.00 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring the insurer an endorsement endeavoring to provide Landlord with thirty (30) days’ prior written notice of cancellation or cancellation, failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributoryrenew or reduction of amount of insurance. No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand and 00/100 Dollars ($25,00025000.00) for commercial general liability insurance. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) shall be acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to provide . Tenant shall immediately notify Landlord thirty (30) days’ prior written notice of upon any cancellation or failure to renewrenew with respect to any such insurance. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand and 00/100 Dollars ($100,000100,000.00) for property insurance and Twenty-Five Thousand and 00/100 Dollars ($25,00025,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Arsanis, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA ” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) if reasonably obtainable, contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or such proposed action, and in any event, Tenant shall provide Landlord with at least thirty (30) days’ prior written notice of any such cancellation, material change, failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributoryrenew or reduction in the amount of such insurance. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000100,000.00) for property insurance and Twenty-Twenty Five Thousand Dollars ($25,00025,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time time, but not sooner than the first anniversary of the Commencement Date, to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or r certificates as required by this Article, Landlord may, at its option, on five (5) days business days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five ten (510) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
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Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: shall (1) be reasonably acceptable in form and content to Landlord; , and (2) contain a clause requiring the insurer to provide Tenant shall immediately notify Landlord thirty (30) days’ prior written notice of cancellation or upon any cancellation, failure to renew, reduction of amount of insurance, or change in coverage with respect to any such insurance. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Five Hundred Thousand and 00/100 Dollars ($100,000500,000.00) for property insurance and Twenty-Twenty Five Thousand and 00/100 Dollars ($25,00025,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.14 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Rapid7, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to provide Landlord thirty (30) days’ prior written notice of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand and 00/100 Dollars ($100,000100,000.00) for property insurance and Twenty-Five Thousand and 00/100 Dollars ($25,00025,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Advent Technologies Holdings, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) shall be reasonably acceptable in form and content to Landlord; , and (2) contain a clause requiring the insurer to provide Tenant shall immediately notify Landlord thirty (30) days’ prior written notice of cancellation or upon any cancellation, failure to renew, reduction of amount of insurance, or change in coverage with respect to any such insurance. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Five Hundred Thousand and 00/100 Dollars ($100,000500,000.00) for property insurance and Twenty-Twenty Five Thousand and 00/100 Dollars ($25,00025,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.14 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Rapid7, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to LandlordLandlord in its reasonable discretion; and (2) contain a clause requiring the insurer to provide Landlord thirty (30) days’ prior written notice of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 100,000 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Allovir, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to be primary and noncontributory (including all primary and excess/umbrella policies. Tenant shall provide Landlord with at least thirty (30) days’ prior written notice of cancellation or any such cancellation, failure to renew. All commercial general liability, excess/umbrella liability renew or reduction in the amounts or types of such insurance below the minimum amounts and automobile liability insurance policies shall be primary and noncontributorycoverages required under this Lease. No such policy shall contain any self-insured retention greater than One Five Hundred Thousand Dollars ($100,000500,000.00) for property insurance and Twenty-Twenty Five Thousand Dollars ($25,00025,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Mimecast LTD)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the The Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation such proposed action (or failure to renew. All commercial general liabilityif such endorsement is not obtainable from the insurer, excess/umbrella liability and automobile liability insurance policies then Tenant shall be primary and noncontributorypromptly notify Landlord of such proposed action after receipt of such notice from the insurer). No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 100,000 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (TESARO, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the The Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) contain a clause requiring the insurer to provide Landlord thirty (30) days’ prior written notice of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 100,000 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) contain a clause requiring an endorsement providing the insurer will not cancel or fail to provide renew the subject policy for any reason other than for non-payment of premium, without endeavoring to first give Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action, and in the event insurer does not provide such notice, Tenant shall provide notice of such cancellation or failure to renew at least twenty (20) days prior to the effective date of such cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 100,000 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease (Inotek Pharmaceuticals Corp)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to Landlord; and (2) contain a clause requiring be primary and noncontributory (including all primary and excess/umbrella policies). No such policy will be canceled or reduced in coverage (below the insurer to provide Landlord minimums herein set forth) without at least thirty (30) days’ prior written notice of cancellation (from Tenant or failure its insurer or agent) to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributoryLandlord. No such policy shall contain any self-insured retention greater than One Hundred Twenty-Five Thousand Dollars ($100,00025,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Flex Pharma, Inc.)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” "A-" and are within a financial size category of not less than “"Class “X” IX" in the most current Best’s 's Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be reasonably acceptable in form and content to Landlord; and (2) contain a clause requiring the be primary and noncontributory (including all primary and excess/umbrella policies). Tenant or its insurer to or insurance consultant shall provide Landlord at least thirty (30) days’ ' prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or any cancellation, failure to renew. All commercial general liability, excess/umbrella liability and automobile liability reduction of amount of insurance policies shall be primary and noncontributoryor material change in coverage. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000i) for property insurance and Twenty-Five Thousand Dollars ($25,00025,000.00) for commercial general in the case of Tenant's liability insurance, and (ii) One Hundred Thousand Dollars ($100,000.00) in the case of Tenant's property insurance (which limits may increase by five percent (5%) after the fifth anniversary of the Premises A Commencement Date). Any deductibles and such Such self-insured retentions shall be deemed to be “"insurance” " for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time (but not more than once in any five-year period) to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried by tenants of similar size and financial standing with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days business days' notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Care.com Inc)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant and Landlord pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance required to be maintained by Tenant shall: (1) be acceptable in form and content acceptable to LandlordLandlord in its reasonable discretion; (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (23) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty at least ten (3010) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such insurance policy required to be maintained by Tenant shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($100,000100,000.00) for property insurance and Twenty-Twenty Five Thousand Dollars ($25,00025,000.00) for commercial general liability insurance. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver of subrogation in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried by similar tenants with respect to similar properties in the Boston/MetroWest Metropolitan area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days business days’ notice to TenantTenant (if not cured by Tenant within said five (5) business day period), procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) business days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection Any or all of Tenant’s insurance certificates and compliance may be provided by blanket coverage maintained by Tenant, provided that such policies shall in all other respects comply with the requirements of this Article 8 and the amount of insurance requirements hereunder. In allocable to the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further informationPremises shall at all times be not less than the amounts required under this Article 8.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be reasonably acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) if commercially available, contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any be provided through self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurancewithout written approval of the Landlord. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 14.13 below. Landlord reserves the right from time to time to require Tenant to obtain reasonable higher minimum amounts of insurance based on insurance, provided such higher limits as are then customarily carried with respect to similar properties in the area in which the Premises are locatedon first-class mixed-use developments. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this ArticleArticle XIV, or to deliver such policies or certificates as required by this ArticleArticle XIV, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the reasonable cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Tenant shall also carry insurance against such other hazards and in such amounts as may be customarily carried by tenants, owners and operations of similar properties as Landlord reserves the right may reasonably require for its protection from time to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further informationtime.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in the form and content to Landlorddescribed in this Article XIII; and (2) contain a clause requiring the insurer to provide be primary and noncontributory (including all primary and excess/umbrella policies). Tenant shall immediately notify Landlord thirty (30) days’ prior written notice of cancellation or upon any cancellation, failure to renew. All commercial general liability, excess/umbrella liability and automobile liability reduction of amount of insurance, or change in coverage with respect to any such insurance policies shall be primary and noncontributoryto the extent any of the foregoing causes Tenant not to comply with the requirements of this Article XIII. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000100,000.00) for property insurance and Twenty-Five Thousand Dollars ($25,00025,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) business days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five thirty (530) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “X” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be reasonably acceptable in form and content to Landlord; and (2) be primary and noncontributory; and (3) contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributorysuch proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty-Five Thousand and 00/100 Dollars ($25,000.00) with respect to liability insurance or One Hundred Thousand Dollars ($100,000100,000.00) for with respect to property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar uses in similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XXV” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form and content to LandlordLandlord in its reasonable discretion; and (2) contain a clause requiring the insurer to provide Landlord thirty (30) days’ prior written notice of cancellation or failure to renewnon-renewal. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any self-insured retention greater than One Hundred Thousand Dollars ($100,000) 100,000.00 for property insurance and Twenty-Five Thousand Dollars ($25,000) 25,000.00 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days days’ notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that (i) are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts or, with respect to the excess/umbrella coverage required under this Section 13.3 above, is legally allowed to insure losses in Massachusetts, and that (ii) have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s 's Key Rating Guide (or such similar rating as may be reasonably selected by Landlord) or, if such Best's rating is at any time not obtainable in the industry, then the Tenant insurer shall have a reasonably equivalent rating from a comparable rating agency reasonably acceptable to Landlord. If and so long as Tenant's excess/umbrella liability policy is carried by Guarantor and is issued by a London domiciled insurance carrier, then such excess/umbrella policy shall at all times include Tenant as a named insured under the policy, and the insurer may satisfy the rating requirement set forth in this Section 13.6 if the insurer has a rating of AA in the most current Standard & Poor's Rating Services. All such insurance shall: (1) be acceptable in commercially reasonable form and content reasonably acceptable to Landlord; and (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) if reasonably obtainable, contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ ' prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action, and in any event, Tenant shall provide Landlord with at least thirty (30) days' prior written notice of cancellation or any such cancellation, failure to renew. All commercial general liability, excess/umbrella liability renew or reduction in the amounts or types of such insurance below the minimum amounts and automobile liability insurance policies shall be primary and noncontributorycoverages required under this Lease. No such policy shall contain any self-insured retention greater than One Five Hundred Thousand Dollars ($100,000500,000.00) for property insurance and Twenty-Five Fifty Thousand Dollars ($25,00050,000.00) for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time time, but not sooner than the first anniversary of the Commencement Date, to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days business days' notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five ten (510) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class “XA-VIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be reasonably acceptable in form and content to Landlord; and (2) contain a clause requiring be primary and noncontributory as to claims arising from Tenant’s use or occupancy of the insurer to provide Premises. Tenant covenants that it shall give Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation or cancellation, failure to renew. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributoryreduction of amount of insurance, or material change in coverage. No such policy shall contain any self-insured retention deductible greater than Twenty Five Thousand Dollars ($25,000) with respect to liability insurance or One Hundred Thousand Dollars ($100,000) for with respect to property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurance. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 13.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on after five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five ten (510) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract
Samples: Lease Agreement (Brightcove Inc)
Requirements for Tenant’s Insurance. All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are authorized admitted to do business, and are in good standing in the Commonwealth of Massachusetts State and that have a rating of at least “AA-” and are within a financial size category of not less than “Class “XVIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: (1) be acceptable in form primary and content to Landlordnoncontributory; and (2) if commercially available, contain a clause requiring an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer to provide first giving Landlord thirty (30) days’ prior written notice (or ten (10) days in the event of cancellation non-payment of premium) by certified mail or failure to renew. All commercial general liabilityovernight courier, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributoryreturn receipt requested, or by fax or email, of such proposed action. No such policy shall contain any be provided through self-insured retention greater than One Hundred Thousand Dollars ($100,000) for property insurance and Twenty-Five Thousand Dollars ($25,000) for commercial general liability insurancewithout written approval of the Landlord. Any Such deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 14.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this ArticleArticle XIV, or to deliver such policies or certificates as required by this ArticleArticle XIV, Landlord may, at its option, on five ten (510) days days’ notice to Tenant, procure such policies for the account of Tenant, and the reasonable cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor. Landlord reserves the right to use a third-party provider to administer the collection of Tenant’s insurance certificates and compliance with the insurance requirements hereunder. In the event Landlord chooses to do so, Landlord’s service provider will contact Tenant using Tenant’s Email Address for Insurance Matters listed in Section 1.1 to provide further information.
Appears in 1 contract