Common use of Requirements for Tenant’s Insurance Clause in Contracts

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 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 VII” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to 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 such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000). Any deductibles and 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, 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 seven (7) 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.

Appears in 2 contracts

Samples: Agreement (Proteon Therapeutics Inc), Agreement (Proteon Therapeutics Inc)

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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 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 VIIX” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without providing that the insurer shall provide Landlord at least thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed actionany cancellation, failure to renew, reduction of amount of insurance or material change in coverage. No such policy shall contain any deductible or self-insured retention greater than (i) Twenty Five Thousand Dollars ($25,000)25,000.00) 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. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 2 contracts

Samples: Lease (Care.com Inc), Lease (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 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 VIIX” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (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 change in coverage. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)50,000. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 2 contracts

Samples: Agreement (Decibel Therapeutics, Inc.), 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 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 VII” 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 reasonably acceptable in form and content to Landlord; (2) be primary and noncontributorynoncontributory (including all primary and excess/umbrella policies); and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without thirty (30) days’ the insurer first giving Landlord prior written notice to Landlord as set forth in the Certificate of Insurance (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 2 contracts

Samples: Commencement Date Agreement (Akamai Technologies Inc), Commencement Date 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 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 VIIX” 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 an endorsement prohibiting cancellation, failure a clause requiring the insurer to renew, reduction of amount of insurance, or change in coverage without provide Landlord thirty (30) days’ prior written notice of cancellation or failure to Landlord (by certified or registered mailrenew. All commercial general liability, return receipt requested, or by fax or email) of such proposed actionexcess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any deductible or self-insured retention greater than Twenty Twenty-Five Thousand Dollars ($25,000)25,000.00) 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

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 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 VIIX” 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 acceptable to LandlordLandlord in its reasonable discretion; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)25,000 for liability insurance and $100,000 for property insurance. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 2 contracts

Samples: Lease (Amag Pharmaceuticals, Inc.), Work 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 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 VIIVIII” 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; (2) be primary and noncontributorynoncontributory (including all primary and excess/umbrella policies); and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Twenty-Five Thousand and 00/100 Dollars ($25,000.00) with respect to liability insurance or One Hundred Thousand Dollars ($25,000)100,000.00) with respect to property 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 2 contracts

Samples: Agreement (Carbon Black, Inc.), 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 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 VIIVIII” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed actionaction if Tenant’s insurer will provide same; otherwise, Tenant shall promptly notify Landlord of any failure to renew, reduction of amount of insurance, or material change in coverage). No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000). Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 2 contracts

Samples: Burlington Mall Road (Flexion Therapeutics Inc), Burlington Mall Road (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 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 VIIX” 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; (2) . Tenant shall immediately notify Landlord upon any cancellation or failure to renew with respect to any such insurance. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to 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 such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Five One Hundred Thousand and 00/100 Dollars ($25,000)100,000.00) for property insurance and Twenty-Five Thousand and 00/100 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 below. Landlord reserves the right from time to time, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: 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 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 VIIX” 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 an endorsement prohibiting cancellation, failure a clause requiring the insurer to renew, reduction of amount of insurance, or change in coverage without provide Landlord thirty (30) days’ prior written notice of cancellation or failure to Landlord (by certified or registered mailrenew. All commercial general liability, return receipt requested, or by fax or email) of such proposed actionand excess/umbrella liability insurance policies shall be primary and noncontributory. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)100,000.00 or property insurance and $25,000.00 for commercial general liability insurance. Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes 91 Hxxxxxxx Avenue\Leases\T2 Biosystems(B) of the waiver in Section 8.13 below. Landlord reserves the right from time to time, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: T2 Biosystems, 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 admitted to do business, and are in good standing in the 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 VIIX” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure a clause requiring the insurer to renew, reduction of amount of insurance, or change in coverage without provide Landlord thirty (30) days’ prior written notice of cancellation or failure to Landlord (by certified or registered mailrenew. All commercial general liability, return receipt requested, or by fax or email) of such proposed actionexcess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)100,000 for property insurance and $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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: 100 Federal Street (Andretti Acquisition Corp.)

Requirements for Tenant’s Insurance. All insurance Each policy required to be maintained obtained by Tenant pursuant to this Lease shall hereunder shall: (a) be maintained with responsible companies that issued by insurers which are admitted reasonably approved by Landlord and/or Landlord's mortgagees and are authorized to do business, and are in good standing business in the Commonwealth of Massachusetts state in which the Premises is located and that have a rating of at least “A-” and are within a financial size category of rated not less than “Class VII” financial class X, and not less than policyholder rating A in the most current recent version of Best’s 's Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: Guide; (1b) be reasonably acceptable in form and content reasonably satisfactory from time to time to Landlord; (2c) name Tenant as named insured thereunder and name Landlord as additional insureds (and with respect to the insurance described in Section 20.1 (a) above, as loss-payees) thereunder, all as their respective interests may appear; (d) not have a deductible amount exceeding Ten Thousand Dollars ($10,000), (except for earthquake and flood insurance, if any, which shall have a deductible amount not to exceed five percent (5%) of the replacement cost); (e) specifically provide that the insurance afforded by such policy for the benefit of Landlord and Landlord's mortgagees and ground lessors shall be primary primary, and noncontributoryany insurance carried by Landlord or Landlord's mortgagees and ground lessors shall be excess and non-contributing; and (3f) except for worker's compensation insurance, contain an endorsement prohibiting cancellation, failure that the insurer waives its right to renew, reduction subrogation as described in Section 21 below; (g) contain a requirement by the insurer to notify (or be endorsed to require that such insurer notify) Landlord (and the mortgagees and ground lessors of amount of insurance, or change Landlord who are named as additional insureds) in coverage without writing not less than thirty (30) days’ days prior written to any change, reduction in coverage, cancellation or other termination thereof (except that only ten (10) days notice shall be required prior to Landlord cancellation for failure to pay premiums); and (by certified or registered mail, return receipt requested, or by fax or emailh) of such proposed actionbe in amounts sufficient at all times to satisfy any coinsurance requirements thereof. No Each such policy shall contain also provide that any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000). Any deductibles and self-insured retentions loss otherwise payable thereunder shall be deemed to be “insurance” payable notwithstanding (i) any act or omission of Tenant which might, absent such provision, result in a forfeiture of all or a part of such insurance payment, (ii) the occupation or use of the Premises for purposes more hazardous than permitted by the provisions of such policy, (iii) any foreclosure or other action or proceeding taken by any Mortgagee pursuant to any provision of the waiver mortgage upon the happening of a default thereunder, or (iv) any change in Section 8.13 below. Landlord reserves the right from time to time, after the first twenty four (24) months title or ownership of the Lease TermPremises; provided, to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried however, that with respect to similar properties clauses (iii) and (iv), Tenant requires notice of such an event in order to add the area in which the Premises are located, The minimum amounts of insurance required by this Lease shall not Mortgagee and/or any new title holder as an Additional Insured and such clauses will only 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 seven (7) days applicable following notice to Tenant's insurance carrier of such events. Tenant agrees to deliver to Landlord, procure such policies for as soon as practicable after the account placing of Tenantthe required insurance, and the cost thereof shall be paid to Landlord within but in no event later than five (5) days prior to the date Tenant takes possession of all or any part of the Premises, certificates from the insurance company evidencing the existence of such insurance and Tenant's compliance with the foregoing provisions of this Section 20. Tenant shall cause replacement certificates to be delivered to Landlord not less than thirty (30) days prior to the expiration of any such policy or policies. Copies of endorsements to the applicable insurance policy must be attached to all certificates delivered by Tenant to Landlord as required by this Lease. If any such initial or replacement certificates are not furnished within the time(s) specified herein, or Tenant otherwise fails to satisfy its obligations under this Section 20 and such failure continues for ten (10) business days after delivery Tenant's receipt of written notice of such failure, shall constitute an Event of Default without the benefit of any additional notice or cure period provided in Section 22.1 below, and Landlord shall have the right, but not the obligation, to cure such default at Tenant's expense. As used in this Section 20, the term "Landlord Parties" shall mean (i) Landlord, (ii) any lender whose loan is secured by a lien against the Project, or any portion thereof, that has been identified to Tenant in a writing sent by Landlord or its agent or property manager, (iii) any ground lessor of bills thereforall or any portion of the Project that has been identified to Tenant in a writing sent by Landlord or its agent or property manager, (iv) the Building manager and any other parties which Landlord shall deem necessary, (v) their respective shareholders, members, partners, Affiliates and subsidiaries, and (vi) any directors, officers, managers, employees, agents or contractors of such persons or entities.

Appears in 1 contract

Samples: Lease (Software Spectrum 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 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 VIIA-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) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure noncontributory as to renew, reduction claims arising from Tenant’s use or occupancy of amount of insurance, or change in coverage without the Premises. Tenant covenants that it shall give Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed actioncancellation, failure to renew, reduction of amount of insurance, or material change in coverage. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)) with respect to liability insurance or One Hundred Thousand Dollars ($100,000) with respect to property insurance. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven after five (75) 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.

Appears in 1 contract

Samples: 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 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 VIIX” 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) be primary and noncontributory; and (3) contain an endorsement prohibiting Tenant shall immediately notify Landlord upon any cancellation, failure to renew, reduction of amount of insurance, or change in coverage without thirty (30) days’ prior written notice with respect to Landlord (by certified or registered mailany such insurance. All commercial general liability, return receipt requested, or by fax or email) of such proposed actionexcess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any deductible or self-insured retention greater than Five Hundred Thousand and 00/100 Dollars ($500,000.00) for property insurance and Twenty Five Thousand and 00/100 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 13.14 below. Landlord reserves the right from time to time, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: Boston, Massachusetts (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 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 VIIXV” 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 LandlordLandlord in its reasonable discretion; and (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure a clause requiring the insurer to renew, reduction of amount of insurance, or change in coverage without provide Landlord thirty (30) days’ prior written notice to Landlord (by certified of cancellation or registered mailnon-renewal. All commercial general liability, return receipt requested, or by fax or email) of such proposed actionexcess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)100,000.00 for property insurance and $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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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: TScan 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 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 VIIX” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000). Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: 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 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 VIIX” 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; (2) be primary , and noncontributory; and (3) contain an endorsement prohibiting Tenant shall immediately notify Landlord upon any cancellation, failure to renew, reduction of amount of insurance, or change in coverage without thirty (30) days’ prior written notice with respect to Landlord (by certified or registered mailany such insurance. All commercial general liability, return receipt requested, or by fax or email) of such proposed actionexcess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any deductible or self-insured retention greater than Five Hundred Thousand and 00/100 Dollars ($500,000.00) for property insurance and Twenty Five Thousand and 00/100 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 13.14 below. Landlord reserves the right from time to time, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: 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 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 VIIVIII” 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; (2) be primary and noncontributory; and (3) if commercially available, contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any deductible or be provided through self-insured retention greater than Twenty Five Thousand Dollars ($25,000)insurance without written approval of the Landlord. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 located, on 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 seven five (75) 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 may reasonably require for its protection from time to time.

Appears in 1 contract

Samples: Indenture of Lease (Keros 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 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 VIIX” 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; (2) . Tenant shall immediately notify Landlord upon any cancellation or failure to renew such insurance. All commercial general liability, excess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to 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 such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)100,000.00 for property insurance and $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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: Hayden Avenue (Dicerna 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 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 VIIX” 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; noncontributory (including all primary and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without excess/umbrella policies. Tenant shall provide Landlord with at least thirty (30) days’ prior written notice of any such cancellation, failure to Landlord (by certified renew or registered mail, return receipt requested, reduction in the amounts or by fax or email) types of such proposed actioninsurance below the minimum amounts and coverages required under this Lease. No such policy shall contain any deductible or self-insured retention greater than Five Hundred Thousand Dollars ($500,000.00) 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: Work Agreement (Mimecast LTD)

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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 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 VIIVIII” 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 the form described in this Article XIII; and content to Landlord; (2) be primary and noncontributory; noncontributory (including all primary and (3) contain an endorsement prohibiting excess/umbrella policies). Tenant shall immediately notify Landlord upon any cancellation, failure to renew, reduction of amount of insurance, or change in coverage without thirty (30) days’ prior written notice with respect to Landlord (by certified or registered mail, return receipt requested, or by fax or email) any such insurance to the extent any of such proposed actionthe foregoing causes Tenant not to comply with the requirements of this Article XIII. No such policy shall contain any deductible or self-insured retention greater than Twenty One Hundred Thousand Dollars ($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 13.13 below. Landlord reserves the right from time to time, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: Agreement (Cra International, 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 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 VII” 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) be primary and noncontributory; noncontributory (including all primary and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, excess/umbrella policies). Tenant or change in coverage without its insurer or insurance consultant shall provide Landlord at least thirty (30) days' prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed actionany cancellation, failure to renew, reduction of amount of insurance or material change in coverage. No such policy shall contain any deductible or self-insured retention greater than Twenty (i) Twenty-Five Thousand Dollars ($25,00025,000.00) 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 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, after the first twenty four time (24but not more than once in any five-year period) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: 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 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 VIIX” 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; (2) be primary and noncontributorynoncontributory (including all primary and excess/umbrella policies); and (3) contain an endorsement prohibiting cancellationproviding the insurer will not cancel or fail to renew the subject policy for any reason other than for non-payment of premium, failure without endeavoring to renew, reduction of amount of insurance, or change in coverage without first give Landlord thirty (30) days’ prior written notice to Landlord (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. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)100,000 for property insurance and $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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

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 (i) are 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 “A-” and are within a financial size category of not less than “Class VIIVIII” 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 reasonably acceptable in commercially reasonable form and content reasonably acceptable to Landlord; (2) be primary and noncontributorynoncontributory (including all primary and excess/umbrella policies); and (3) if reasonably obtainable, contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days' prior written notice to Landlord (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 any such cancellation, failure to renew or reduction in the amounts or types of such insurance below the minimum amounts and coverages required under this Lease. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Hundred Thousand Dollars ($25,000)500,000.00) for property insurance and Fifty Thousand Dollars ($50,000.00) 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, after but not sooner than the first twenty four (24) months anniversary of the Lease TermCommencement Date, to require 0000 Xxxx Xxxxxx Xxxxxx Xxxxxxxx, Inc. Lease 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 seven five (75) 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.

Appears in 1 contract

Samples: Lease (Markforged Holding 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 admitted to do business, and are in good standing in the 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 VIIX” 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; (2) be primary and noncontributorynoncontributory (including all primary and excess/umbrella policies); and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed actionaction (or if such endorsement is not obtainable from the insurer, then Tenant shall promptly notify Landlord of such proposed action after receipt of such notice from the insurer). No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)100,000 for property insurance and $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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: Agreement (Dynatrace Holdings LLC)

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 admitted to do business, and are in good standing in the Commonwealth of Massachusetts State and that have a rating of at least “A-” and are within a financial size category of not less than “Class VIIVIII” 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; (2) be primary and noncontributory; and (32) if commercially available, contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (or ten (10) days in the event of non-payment of premium) by certified mail or registered mailovernight courier, return receipt requested, or by fax or email) , of such proposed action. No such policy shall contain any deductible or be provided through self-insured retention greater than Twenty Five Thousand Dollars ($25,000)insurance without written approval of the Landlord. Any Such deductibles and 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, 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 ArticleArticle XIV, or to deliver such policies or certificates as required by this ArticleArticle XIV, Landlord may, at its option, on seven ten (710) 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.

Appears in 1 contract

Samples: Indenture of Lease (Motus GI 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 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 VIIVIII” 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; (2) be primary and noncontributorynoncontributory (including all primary and excess/umbrella policies); and (3) if reasonably obtainable, contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (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 any such cancellation, material change, failure to renew or reduction in the amount of such insurance. No such policy shall contain any deductible or self-insured retention greater than One Hundred Thousand Dollars ($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 13.13 below. Landlord reserves the right from time to time, after but not sooner than the first twenty four (24) months anniversary of the Lease TermCommencement 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 seven five (75) 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.

Appears in 1 contract

Samples: X4 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 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 VIIX” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Twenty-Five Thousand and 00/100 Dollars ($25,000.00) with respect to liability insurance or One Hundred Thousand Dollars ($25,000)100,000.00) with respect to property insurance. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: Agreement (Fleetmatics Group PLC)

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 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 VII” 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 reasonably acceptable in form and content to Landlord; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days' prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)the maximum deductibles noted above. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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. The insurance required to be maintained by Tenant pursuant to this section may be carried under blanket insurance policies covering the Premises 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-insurance.

Appears in 1 contract

Samples: Sublease (Datawatch Corp)

Requirements for Tenant’s Insurance. All insurance Each policy required to be maintained obtained by Tenant pursuant to this Lease shall hereunder shall: (a) be maintained with responsible companies that issued by insurers which are admitted reasonably approved by Landlord and/or Landlord's mortgagees and are authorized to do business, and are in good standing business in the Commonwealth of Massachusetts state in which the Premises is located and that have a rating of at least “A-” and are within a financial size category of rated not less than “Class VII” financial class X, and not less than policyholder rating A in the most current recent version of Best’s 's Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such insurance shall: Guide; (1b) be reasonably acceptable in form and content reasonably satisfactory from time to time to Landlord; (2c) name Tenant as named insured thereunder and name Landlord and all Landlord Parties as additional insureds (and with respect to the insurance described in Section 20.1(a) above, as loss-payees) thereunder, all as their respective interests may appear; (d) not have a deductible amount exceeding Ten Thousand Dollars ($10,000), (except for earthquake and flood insurance, if any, which shall have a deductible amount not to exceed five percent (5%) of the replacement cost); (e) specifically provide that the insurance afforded by such policy for the benefit of Landlord and Landlord's mortgagees and ground lessors shall be primary primary, and noncontributoryany insurance carried by Landlord or Landlord's mortgagees and ground lessors shall be excess and non- contributing; and (3f) except for worker's compensation insurance, contain an endorsement prohibiting cancellation, failure that the insurer waives its right to renew, reduction subrogation as described in Section 22 below; (g) contain a requirement by the insurer to notify (or be endorsed to require that such insurer notify) Landlord (and the mortgagees and ground lessors of amount of insurance, or change Landlord who are named as additional insureds) in coverage without writing not less than thirty (30) days’ days prior written to any change, reduction in coverage, cancellation or other termination thereof (except that only ten (10) days notice shall be required prior to Landlord cancellation for failure to pay premiums); and (by certified or registered mail, return receipt requested, or by fax or emailh) of such proposed actionbe in amounts sufficient at all times to satisfy any coinsurance requirements thereof. No Each such policy shall contain also provide that any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000). Any deductibles and self-insured retentions loss otherwise payable thereunder shall be deemed to be “insurance” payable notwithstanding (i) any act or omission of Landlord or Tenant which might, absent such provision, result in a forfeiture of all or a part of such insurance payment, (ii) the occupation or use of the Premises for purposes more hazardous than permitted by the provisions of such policy, (iii) any foreclosure or other action or proceeding taken by any Mortgagee pursuant to any provision of the waiver in Section 8.13 below. Landlord reserves mortgage upon the right from time to time, after the first twenty four (24) months happening 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 Articlea default thereunder, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on seven (7iv) 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.any change in title or

Appears in 1 contract

Samples: Inflow 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 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 VIIVIII” 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 reasonably acceptable in form and content acceptable to LandlordLandlord in its reasonable discretion; (2) be primary and noncontributorynoncontributory (including all primary and excess/umbrella policies); and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without thirty the insurer first giving Landlord at least ten (3010) days’ prior written notice to Landlord (by certified or registered mail, return receipt requested, or by fax or email) of such 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 ($100,000.00) for property insurance and Twenty Five Thousand Dollars ($25,000)25,000.00) for commercial general liability insurance. Any Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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. Any or all of Tenant’s insurance 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 allocable to the Premises shall at all times be not less than the amounts required under this Article 8.

Appears in 1 contract

Samples: Lionbridge Technologies Inc /De/

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 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 VIIX” 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; (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure endeavoring to renew, reduction of amount of insurance, or change in coverage without provide Landlord with thirty (30) days’ prior written notice of cancellation, failure to Landlord (by certified renew or registered mail, return receipt requested, or by fax or email) reduction of such proposed actionamount of insurance. No such policy shall contain any deductible or self-insured retention greater than Twenty Twenty-Five Thousand and 00/100 Dollars ($25,000). Any 25000.00) Such deductibles and 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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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.

Appears in 1 contract

Samples: Sublease Agreement (Minerva Neurosciences, 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 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 VIIX” 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 LandlordLandlord in its reasonable discretion; and (2) be primary and noncontributory; and (3) contain an endorsement prohibiting cancellation, failure a clause requiring the insurer to renew, reduction of amount of insurance, or change in coverage without provide Landlord thirty (30) days’ prior written notice of cancellation or failure to Landlord (by certified or registered mailrenew. All commercial general liability, return receipt requested, or by fax or email) of such proposed actionexcess/umbrella liability and automobile liability insurance policies shall be primary and noncontributory. No such policy shall contain any deductible or self-insured retention greater than Twenty Five Thousand Dollars ($25,000)100,000 for property insurance and $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, after the first twenty four (24) months of the Lease Term, 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 seven five (75) 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: Waltham, Massachusetts (Allovir, Inc.)

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