Subtenant’s Insurance. Subtenant shall procure and maintain, at its own cost and expense, such liability insurance as is required to be carried by Sublandlord under the Prime Lease, naming Sublandlord, as well as Prime Landlord, in the manner required therein, and such property insurance as is required to be carried by Sublandlord under the Prime Lease to the extent such property insurance pertains to the Premises. If the Prime Lease requires Sublandlord to insure leasehold improvements or alterations, then Subtenant shall insure such leasehold improvements that are located in the Premises, as well as alterations in the Premises made by Subtenant. Subtenant shall furnish to Sublandlord a certificate of Subtenant’s insurance required hereunder not later than ten (10) days prior to Subtenant’s taking possession of the Premises. Each party hereby waives claims against the other for property damage provided such waiver shall not invalidate the waiving party’s property insurance; each party shall attempt to obtain from its insurance carrier a waiver of its right of subrogation. Subtenant hereby waives only those claims against Prime Landlord and Sublandlord for business interruption or property damage to the Premises or its contents, but solely to the extent that Sublandlord is required to waive such claims against Prime Landlord under Paragraph 8 of the Prime Lease. Sublandlord hereby waives such claims against Subtenant for loss of rents or damage to property sustained by Sublandlord to the same degree that such claims are waived by Prime Landlord under Paragraph 8 of the Prime Lease. Subject to the terms herein, Subtenant agrees to use reasonable efforts in good faith to obtain, for the benefit of Prime Landlord and Sublandlord, such waivers of subrogation rights from its insurer as are required of Sublandlord under the Prime Lease. Sublandlord agrees to use reasonable efforts in good faith to obtain from Prime Landlord a waiver of claims for insurable property damage losses and an agreement from Prime Landlord to obtain a waiver of subrogation rights in Prime Landlord’s property insurance, if and to the extent that Prime Landlord waives such claims against Sublandlord under the Prime Lease or is required under the Prime Lease to obtain such waiver of subrogation rights.
Appears in 1 contract
Subtenant’s Insurance. The Subtenant shall procure secure as and maintainfrom the Possession Date from a solvent and responsible insurance company and maintain throughout the Term and any renewal thereof, in full force and effect insurance upon property of every nature, description and kind owned by the Subtenant for which the Subtenant is legally liable and which is located within the Subleased Premises including the Subtenant's fixtures, stock in trade, furniture and equipment for the full replacement cost thereof with coverage against at its own least, the perils of fire and standard extended coverage including sprinkler leakage, broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for each accident in an amount not less than the replacement cost of all the Subtenant's leasehold improvements and expenseall boiler, pressure vessels, air conditioning equipment and miscellaneous electrical apparatus; business interruption insurance in such amounts as will reimburse the Subtenant for direct or indirect loss of earnings attributable to all perils insured against; public liability insurance and property damage insurance including personal injury liability, contractual liability, employers liability and owners and contractors protective insurance coverage, such liability insurance as is required policies to be carried by Sublandlord under the Prime Lease, naming Sublandlord, as well as Prime Landlord, in the manner required therein, and such property insurance as is required to be carried by Sublandlord under the Prime Lease to the extent such property insurance pertains to the Premises. If the Prime Lease requires Sublandlord to insure leasehold improvements or alterations, then Subtenant shall insure such leasehold improvements that are located in the Premises, as well as alterations in the Premises made by Subtenant. Subtenant shall furnish to Sublandlord written on a certificate comprehensive basis with inclusive limits of Subtenant’s insurance required hereunder not later less than ten (10) days prior to Subtenant’s taking possession of the Premises. Each party hereby waives claims against the other $5,000,000.00 for property damage provided such waiver shall not invalidate the waiving party’s property insurance; each party shall attempt to obtain from its insurance carrier a waiver of its right of subrogation. Subtenant hereby waives only those claims against Prime Landlord and Sublandlord for business interruption bodily injury or property damage and to contain a severability of interest clause and cross liability clauses (if available); and tenant's legal liability insurance for the actual cash value of the Premises or its contents, but solely to the extent that Sublandlord is required to waive such claims against Prime Landlord under Paragraph 8 of the Prime Lease. Sublandlord hereby waives such claims against Subtenant for including loss of rents or damage to property sustained by use thereof. The Sublandlord to shall be an additional insured on such policies and the same degree that such claims are waived by Prime Landlord under Paragraph 8 of the Prime Lease. Subject to the terms herein, Subtenant agrees to use reasonable efforts provide to the Sublandlord certificates of insurance or where requested certified copies of such policies of insurance. In the event the Subtenant fails to take out or to keep in good faith force such insurance the Sublandlord has the right, without assuming any obligation in connection therewith, upon forty-eight (48) hours written notice to obtain, for effect such insurance at the benefit sole cost of Prime Landlord the Subtenant and Sublandlord, such waivers of subrogation rights from its insurer as are required of all cost and expenses including the premiums therefore paid by the Sublandlord under shall be paid by the Prime Lease. Sublandlord Subtenant and the Subtenant covenants and agrees to use reasonable efforts in good faith to obtain from Prime Landlord a waiver of claims for insurable property damage losses and an agreement from Prime Landlord to obtain a waiver of subrogation rights in Prime Landlord’s property insurance, if and to the extent that Prime Landlord waives pay such claims against Sublandlord under the Prime Lease or is required under the Prime Lease to obtain such waiver of subrogation rightson demand.
Appears in 1 contract
Samples: Sublease Agreement (Startek Inc)
Subtenant’s Insurance. Subtenant and Sublandlord agree that the amendment to the Head Lease modifies the insurance obligations of Sublandlord under the Head Lease and the following insurance obligations conform the insurance obligations of Subtenant under this Sublease to the same. Subtenant shall procure maintain insurance complying with all of the following:
(a) Subtenant shall procure, pay for and maintainkeep in full force and effect, at its own cost and expenseall times during the Sublease Term, such the following:
(i) Comprehensive general liability insurance insuring Subtenant against liability for personal injury, bodily injury, death and damage to property occurring within the Leased Premises, or resulting from Subtenant’s use or occupancy of the Leased Premises, the Building, the Outside Areas or the Property, or resulting from Subtenant’s activities in or about the Leased Premises or the Property, with coverage in an amount equal to Subtenant’s Required Liability Coverage (as is set forth in Article 1), which insurance shall contain “broad form liability” coverage insuring Subtenant’s performance of Subtenant’s obligations to indemnify Sublandlord as contained in this Sublease.
(ii) Fire and property damage insurance in so-called “fire and extended coverage” or “all risk” form insuring Subtenant against loss from physical damage to Subtenant’s personal property, inventory, trade fixtures and improvements within the Leased Premises with coverage for the full actual replacement cost thereof;
(iii) intentionally deleted;
(iv) Pressure vessel insurance, if applicable;
(v) Workers’ compensation insurance and any other employee benefit insurance sufficient to comply with all laws; and
(vi) With respect to making of alterations or the construction of improvements or the like undertaken by Subtenant, builder’s risk insurance, in an amount and with coverage reasonably satisfactory to Sublandlord.
(vii) Commercial automobile liability insurance (if applicable) covering automobiles owned, hired or used by Subtenant in carrying on its business with limits not less $1,000,000 combined single limit for each accident, insuring Subtenant (and naming as additional insureds the Sublandlord, Head Landlord, California Public Employees’ Retirement System, Head Landlord’s property management company, Head Landlord’s asset management company and, if requested in writing by Head Landlord, Head Landlord’s mortgagee, (collectively “Head Landlord Insured Parties”).
(b) Each policy of liability insurance required to be carried by Subtenant pursuant to this paragraph or actually carried by Subtenant with respect to the Leased Premises or the Property: (i) shall, except with respect to insurance required by subparagraph (a)(vi) above, name Sublandlord under and Head Landlord Insured Parties, as additional insured; (ii) shall be primary insurance providing that the Prime Leaseinsurer shall be liable for the full amount of the loss, naming up to and including the total amount of liability set forth in the declaration of coverage, without the right of contribution from or prior payment by any other insurance coverage of Sublandlord; (iii) shall be in a form satisfactory to Sublandlord; (iv) shall be carried with companies reasonably acceptable to Sublandlord with A. M. Best rating requirement of at least A-:VII; (v) shall contain so-called “severability” or “cross liability” coverage. Subtenant shall notice Sublandlord and Head Landlord in the event of any cancellation, lapse or change in coverage. Each policy of property insurance maintained by Subtenant with respect to the Leased Premises or the Property or any property therein shall contain a waiver and/or a permission to waive by the insurer of any right of subrogation against Sublandlord, as well as Prime Landlordits partners, in principals, members, officers, employees, agents and contractors, which might arise by reason of any payment under such policy or by reason of any act or omission of Sublandlord, its partners, principals, members, officers, employees, agents and contractors.
(c) Prior to the manner required thereintime Subtenant or any of its contractors enters the Leased Premises, and such property Subtenant shall deliver to Sublandlord, with respect to each policy of insurance as is required to be carried by Sublandlord under Subtenant pursuant to this Article, a copy of such policy (appropriately authenticated by the Prime Lease to the extent such property insurance pertains to the Premises. If the Prime Lease requires Sublandlord to insure leasehold improvements insurer as having been issued) or alterations, then Subtenant shall insure such leasehold improvements that are located in the Premises, as well as alterations in the Premises made by Subtenant. Subtenant shall furnish to Sublandlord a certificate of Subtenant’s insurance the insurer certifying in form satisfactory to Sublandlord that a policy has been issued, providing the coverage required hereunder not later than by this Paragraph and containing the provisions specified herein. With respect to each renewal or replacement of any such insurance, the requirements of this Paragraph must be complied with (i.e., a copy of such policy or certificate shall be delivered to Sublandlord) within ten (10) days prior to Subtenant’s taking possession after the renewal or replacement of the Premisesapplicable policies, but in no event shall Subtenant allow coverage to lapse. Each party hereby waives claims against Sublandlord and Head Landlord may, at any time and from time to time, inspect and/or copy any and all insurance policies required to be carried by Subtenant pursuant to this Article. If Head Landlord reasonably determines at any time that the other for property damage provided such waiver shall not invalidate the waiving party’s property insurance; each party shall attempt to obtain from its amount of insurance carrier a waiver coverage or limits or rating required of its right of subrogation. Subtenant hereby waives only those claims against Prime Landlord and Sublandlord for business interruption or property damage pursuant to the Premises Head Lease shall be increased or its contents, but solely adjusted to such greater amount as Head Landlord may reasonably determine pursuant to the extent terms and conditions of the Head Lease then, the Sublandlord shall have the right to determine that Sublandlord the amount of coverage set forth in Paragraph 9.1(a) for any policy of insurance Subtenant is required to waive carry pursuant to this Article is not adequate (where such claims against Prime Landlord under Paragraph 8 coverage is for a less amount than required to be carried by Sublandlord) and Subtenant shall promptly upon notice increase the amount of the Prime Lease. Sublandlord hereby waives coverage for such claims against Subtenant for loss of rents or damage insurance to property sustained by Sublandlord to the same degree that such claims are waived by Prime Landlord under Paragraph 8 of the Prime Lease. Subject to the terms herein, Subtenant agrees to use reasonable efforts in good faith to obtain, for the benefit of Prime Landlord and Sublandlord, such waivers of subrogation rights from its insurer greater amount as are is required of Sublandlord under by Head Landlord.
(d) Head Landlord shall be responsible for insuring the Prime Leaseexterior glass curtain walls of the Building; provided, however, that notwithstanding anything in the Head Lease to the contrary, 100% of the costs of such insurance (including any deductibles associated therewith and actually paid by Head Landlord) shall be included in Head Landlord’s Insurance Costs, without any exclusions thereto. Sublandlord agrees to use reasonable efforts in good faith to obtain from Prime Landlord a waiver of claims for insurable property damage losses and an agreement from Prime All costs incurred by Head Landlord to obtain a waiver of subrogation rights maintain, repair or replace, as necessary, the exterior glass curtain walls shall not be included in Prime Operating Expenses, but shall be reimbursed by Sublandlord within thirty (30) days following Head Landlord’s delivery to Sublandlord of an invoice therefor. Subtenant agrees that in any instance that Head Landlord delivers such invoice for reimbursement to Sublandlord then Subtenant shall reimburse Sublandlord or make such invoice payment direct to Head Landlord for the full cost of the amount stated upon such invoice within such thirty (30) day period.
(e) Sublandlord and Head Landlord shall not be required to insure or maintain, and Subtenant shall be solely responsible for insuring and maintaining, any property insuranceof Subtenant located on the Building, if including, without limitation, signage, rooftop equipment, and other personal property or trade fixtures, or in the Outside Areas or elsewhere at the Property, including, without limitation, signage, generators and other auxiliary equipment.
(f) Any requirement under this Sublease for Subtenant to the extent that Prime insure in favor of Head Landlord waives such claims against Sublandlord under the Prime Lease or is required under the Prime Lease to obtain such waiver indemnify Head Landlord shall also be deemed to mean all of subrogation rightsHead Landlord’s Insured Parties.
Appears in 1 contract
Samples: Sublease (Juniper Networks Inc)
Subtenant’s Insurance. Subtenant shall procure and maintain, at its own cost and expense, such liability insurance as is required to be carried by Sublandlord under the Prime LeaseXxxxxxxxx, naming SublandlordSublandlord and the Overlandlord under the Xxxxxxxxx as additional insureds. Such insurance coverage shall be primary and non-contributory as to the Premises. Subtenant shall also procure and maintain, as well as Prime Landlordat its own cost and expense, in the manner required therein, and such property insurance as is required to be carried by Sublandlord under the Prime Lease Xxxxxxxxx to the extent such property insurance pertains to the Premises. If Subtenant is required to procure and maintain at its own cost and expense other types of insurance required of Sublandlord under the Prime Lease requires Sublandlord Xxxxxxxxx which relate in any way to insure leasehold improvements or alterations, then Subtenant shall insure such leasehold improvements that are located in the Premises, as well as alterations in the Premises made by Subtenant. Subtenant shall furnish to Sublandlord a certificate of Subtenant’s insurance required hereunder not later than ten (10) days prior to Subtenant’s taking possession of the Subleased Premises. Each party hereby waives claims against the other for property damage provided such waiver shall not invalidate the waiving party’s property insurance; each party shall attempt to obtain from its insurance carrier a waiver of its right of subrogation. Subtenant hereby waives only those claims against Prime Landlord the Overlandlord under the Xxxxxxxxx and Sublandlord for business interruption or property damage damages to the Premises or its contents, but solely content if and to the extent that Sublandlord is required to waive such claims against Prime Landlord under Paragraph 8 of the Prime Lease. Sublandlord hereby waives such claims against Subtenant for loss of rents or damage to property sustained by Sublandlord to the same degree that such claims are waived by Prime Landlord Overlandlord under Paragraph 8 of the Prime LeaseXxxxxxxxx. Subject to the terms herein, Subtenant agrees to use reasonable efforts in good faith to obtain, for the benefit of Prime Landlord Sublandlord and Sublandlordthe Overlandlord under the Xxxxxxxxx, such waivers of subrogation rights from its insurer as are required of Sublandlord under the Prime LeaseXxxxxxxxx. Sublandlord agrees In addition to use reasonable efforts in good faith any requirements applicable to obtain from Prime Landlord a waiver Subtenant under the Xxxxxxxxx related to the procurement and maintenance of insurance, Subtenant shall maintain comprehensive public liability insurance against claims for insurable personal injury, bodily injury, wrongful death and property damage losses and an agreement from Prime Landlord occurring on, in or about the Subleased Premises, affording insurance protection to obtain limits of not less than a waiver combined single limit of subrogation rights $5,000,000. Subtenant shall also maintain insurance in Prime Landlordreasonable amounts to cover the replacement value of Subtenant’s personal property insurancelocated within the Subleased Premises, if and including without limitation coverage for any equipment, furniture or other personal property made available for Subtenant’s use pursuant to the extent that Prime Landlord waives such claims against Sublandlord under the Prime Lease or is required under the Prime Lease to obtain such waiver of subrogation rightsthis Sublease.
Appears in 1 contract
Subtenant’s Insurance. Subtenant shall procure and maintain11.1. At all times during the Term, at its own cost and expense, such liability insurance as is required Subtenant shall keep or cause to be carried kept in place insurance in the forms and amounts, and on the terms, required under Section 13 of the Prime Lease (which coverages shall be expanded or increased if required by Sublandlord under the Prime Landlord or pursuant to the Prime Lease), naming Sublandlordprovided however, as well as Prime Landlord, in the manner required therein, and such property insurance as is required to be carried by Sublandlord under that notwithstanding any provision of the Prime Lease to the extent such property contrary, Subtenant shall at a minimum, provide the following coverages: (a) commercial general liability insurance pertains with respect to the Sublease Premises. If , written on an occurrence basis or with limits as required by the Prime Lease requires Lease; (b) insurance covering all improvements made by or on behalf of Subtenant, trade fixtures, equipment, furnishings, furniture and other personal property installed and owned by Subtenant or as provided by Sublandlord and used in connection with the Sublease Premises insured to insure leasehold improvements its full replacement value against loss or alterationsdamage on a comprehensive all risk basis; and (c) Workers’ Compensation Insurance covering all employees as required by law. Additionally, then during any construction or renovation of any permitted Alterations pursuant to this Sublease, Subtenant shall insure cause to be provided appropriate builder’s risk insurance and owner’s contingent or protective liability insurance, covering claims not covered by or under the terms of the above-mentioned comprehensive general liability insurance, written on an occurrence basis, with completed operations coverage and or with limits as required by the Prime Lease. Subtenant agrees to furnish Sublandlord with certificates in a form reasonably satisfactory to Sublandlord evidencing such leasehold improvements that are located in insurance prior to the Premises, as well as alterations in the Premises made by Subtenantcommencement of any such construction or renovations. Subtenant shall furnish be responsible for insuring the Personal Property (as defined in Section 18) based upon Sublandlord’s then applicable book value, which may be adjusted on an annual basis.
11.2. In addition to any requirements stated in the Prime Lease, each insurance policy required above shall (a) be obtained from companies licensed or authorized to issue policies of insurance in the state in which the Sublease Premises are located and reasonably acceptable to Sublandlord (it being agreed that an insurance company reasonably acceptable to Prime Landlord shall be deemed reasonably acceptable to Sublandlord); (b) except for Workers’ Compensation, name Sublandlord and Prime Landlord (and any other entities designated by Sublandlord or Prime Landlord) as an additional insured; (c) insure the interests of Prime Landlord and Sublandlord regardless of any breach or violation by Subtenant of warranties, declarations or conditions contained in such policies or any action or inaction of Subtenant or of any other person; (d) be non-cancelable and non-amendable with respect to the interest of Sublandlord and Prime Landlord without at least thirty (30) days’ prior written notice; and (e) contain a certificate of Subtenant’s insurance clause that such policy and the coverage evidence thereby shall be primary with respect to any policies carried by Sublandlord, and that any coverage carried by Sublandlord shall be excess insurance.
11.3. Prior to the Phase 1 Tender Date, the Phase 2 Tender Date and the Phase 3 Tender Date, as applicable, and thereafter as required hereunder not later than to evidence policy renewal at least ten (10) days prior to expiration, Subtenant shall furnish Sublandlord with certificates evidencing each insurance policy required above. Should Subtenant fail to timely provide any such certificate, Sublandlord shall have the right, but not the obligation, at any time and from time to time and without notice to obtain the insurance coverage required to be maintained by Subtenant’s taking possession , and if Sublandlord elects to do so, all costs and expenses incurred by Sublandlord shall be immediately paid by Subtenant to Sublandlord as Additional Rent without prejudice to any rights and remedies of the PremisesSublandlord under this Sublease. Each party hereby waives claims against the other for property damage provided such waiver policy shall contain a provision stating that such policy or policies shall not invalidate the waiving party’s property insurance; each party shall attempt be canceled without prior written notice thereof to obtain from its insurance carrier a waiver of its right of subrogation. Subtenant hereby waives only those claims against Prime Landlord and Sublandlord for business interruption (or, as applicable, their respective designees).
11.4. Anything in this Sublease or property damage to the Premises or its contents, but solely to the extent that Sublandlord is required to waive such claims against Prime Landlord under Paragraph 8 of the Prime Lease. Sublandlord hereby waives such claims against Subtenant for loss of rents or damage to property sustained by Sublandlord to the same degree that such claims are waived by Prime Landlord under Paragraph 8 of the Prime Lease. Subject to the terms herein, Subtenant agrees to use reasonable efforts in good faith to obtain, for the benefit of Prime Landlord and Sublandlord, such waivers of subrogation rights from its insurer as are required of Sublandlord under the Prime Lease. Sublandlord agrees to use reasonable efforts in good faith to obtain from Prime Landlord a waiver of claims for insurable property damage losses and an agreement from Prime Landlord to obtain a waiver of subrogation rights in Prime Landlord’s property insurance, if and to the extent that Prime Landlord waives such claims against Sublandlord under the Prime Lease or is required under the Prime Lease to obtain the contrary notwithstanding, Sublandlord and Subtenant severally waive any claim in its favor against the other (REGARDLESS OF CAUSE, INCLUDING NEGLIGENCE OF THE OTHER OR ITS AGENTS OR EMPLOYEES, AND STRICT LIABILITY OF ANY KIND) for loss or damage to any of its property located on or constituting a part of the Sublease Premises or the Property, by reason of fire or the elements, or any other cause that is insured, or insurable (whether or not actually insured) by the terms of standard fire and extended coverage insurance in the state where the Building is located, regardless of the amount of the proceeds, if any, payable under such waiver insurance.
11.5. If Subtenant procures and maintains insurance on its signs, trade fixtures and other equipment and personal property not installed as a permanent fixture to the Building or improvements thereto so as to become fixtures under State law, Subtenant shall be the sole owner of subrogation rightssuch insurance and recover and retain the proceeds of such insurance in the event of any loss covered by such insurance.
Appears in 1 contract
Samples: Sublease (Integral Systems Inc /Md/)
Subtenant’s Insurance. 17.1 Subtenant shall procure and maintainshall, at its own sole cost and expense, maintain throughout the Term, any insurance coverage required to be maintained by Sublandlord under the Master Lease, pursuant to the terms and conditions of the Master Lease, with a company authorized to transact business in the jurisdiction where the Premises is located and otherwise in accordance with the terms of the Master Lease. Sublandlord and Master Landlord (and such liability other parties as required by the provisions of the Master Lease) shall be named as additional insureds under such insurance. Subtenant shall provide Sublandlord and Master Landlord with certificates of insurance evidencing the insurance required to be maintained by Subtenant herein prior to the Commencement Date and, upon request, from time to time thereafter. Subtenant further agrees to give not less than thirty (30) days’ advance written notice to Sublandlord and Master Landlord (and any other parties named as additional insureds thereon) of any cancellation or reduction of insurance under any such policy.
17.2 Subtenant hereby waives on behalf of itself and on behalf of its insurers any and all rights of recovery against Sublandlord, Master Landlord and the directors, officers, employees, agents and representatives of Sublandlord or Master Landlord, by way of subrogation or otherwise, on account of loss or damage occasioned to Subtenant or its property or the properties of others under its control caused by fire or any of the extended coverage risks described hereunder to the extent that such loss or damage is insured under any insurance policy in force at the time of such loss or damage or required to be carried hereunder. If necessary for its effectiveness, Subtenant shall give notice to its insurance carrier of the foregoing waiver of subrogation. Sublandlord hereby waives on behalf of itself and on behalf of its insurers any and all rights of recovery against Subtenant and its officers, employees, agents and representatives on account of damage to the Sublandlord or its property or the properties of others under its control caused by Sublandlord fire or any of the extended coverage risks described herein to the extent that such loss or damage is insured under any insurance policy in force at the Prime Lease, naming Sublandlord, as well as Prime Landlord, in the manner required therein, and time of such property insurance as is loss or damage or required to be carried by Sublandlord under the Prime Lease to the extent such property insurance pertains to the Premises. If the Prime Lease requires Sublandlord to insure leasehold improvements or alterations, then Subtenant shall insure such leasehold improvements that are located in the Premises, as well as alterations in the Premises made by Subtenant. Subtenant shall furnish to Sublandlord a certificate of Subtenant’s insurance required hereunder not later than ten (10) days prior to Subtenant’s taking possession of the Premises. Each party hereby waives claims against the other for property damage provided such waiver shall not invalidate the waiving party’s property insurance; each party shall attempt to obtain from its insurance carrier a waiver of its right of subrogation. Subtenant hereby waives only those claims against Prime Landlord and Sublandlord for business interruption or property damage to the Premises or its contents, but solely to the extent that Sublandlord is required to waive such claims against Prime Landlord under Paragraph 8 of the Prime Lease. Sublandlord hereby waives such claims against Subtenant for loss of rents or damage to property sustained by Sublandlord to the same degree that such claims are waived by Prime Landlord under Paragraph 8 of the Prime Lease. Subject to the terms herein, Subtenant agrees to use reasonable efforts in good faith to obtain, for the benefit of Prime Landlord and Sublandlord, such waivers of subrogation rights from its insurer as are required of Sublandlord under the Prime Lease. Sublandlord agrees to use reasonable efforts in good faith to obtain from Prime Landlord a waiver of claims for insurable property damage losses and an agreement from Prime Landlord to obtain a waiver of subrogation rights in Prime Landlord’s property insurance, if and to the extent that Prime Landlord waives such claims against Sublandlord under the Prime Lease or is required under the Prime Lease to obtain such waiver of subrogation rightshereunder.
Appears in 1 contract
Samples: Lease Agreement (Okta, Inc.)
Subtenant’s Insurance. At all times during the Term and any renewal thereof, the Subtenant shall procure and maintain, at its own cost and expense, shall take out and keep in full force and effect:
(1) All risks (including flood and earthquake) property insurance in an amount not less than the amount equal to that which would be required to fully replace or repair any loss or damage ("Replacement Cost"), insuring:
(a) the Demised Premises (including all buildings on the premises) and the Sublandlord and Headlandlord is to be included as an additional named insured and/or joint loss payee;
(b) contingent liability from the enforcement of building by-laws including the demolition and replacement of undamaged portions of the buildings or structures and increased costs of construction;
(c) all property owned by Subtenant or for which Subtenant is legally liable or installed by or on behalf of Subtenant, or located on the Premises including, without limitation, leasehold improvements, chattels, furniture, stock, office equipment, equipment, fixtures, contents, boiler or mechanical or electrical equipment, if applicable, and the policy will include a Waiver of Subrogation in favour of the Sublandlord; and
(d) extra expense insurance in such amounts as will reimburse the Subtenant for extra expense incurred arising out of prevention of access to the Demised Premises and/or business interruption insurance covering any rental obligation to the Sublandlord.
(2) If a separate policy of insurance is maintained for the boiler and machinery, the policies shall be on a repair and replacement basis, in an amount to reflect the replacement cost of the building and the contents and equipment located on the Premises. Coverage for the repair and replacement of boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus on a broad form blanket coverage basis including Business Interruption insurance;
(3) The Property and Boiler and Machinery policies shall contain provisions for settling joint loss disputes;
(4) Commercial general liability insurance, which includes products liability (if applicable), personal injury, bodily injury, death, employer's/and contingent employer's liability, tenants legal liability (if occupying the premises as a tenant), blanket contractual liability, non owned automobile liability, Completed Operations Liability, Owners and Contractors Protective liability, tenant discrimination, wrongful eviction, occurrence property damage, and provisions for cross liability and severability of interests with limits of not less than Ten Million Dollars ($10,000,000.00) per occurrence; If serving alcohol on the premises for compensation, liquor liability insurance as is required in an amount of not less than $2,000,000 per occurrence. The Headlandlord and Sublandlord are to be carried by Sublandlord under the Prime Leaseincluded as additional insureds;
(5) During any period of construction, naming Sublandlordstructural or building alterations, as well as Prime Landlord, in the manner required thereinadditions, and such property insurance as is required to be carried by Sublandlord under demolitions, repair and/or renovations:
(a) Builders’ Risk Insurance insuring the Prime Lease Subtenant and their employees and all those for whom they are at law responsible for damage, including resultant damage from error or design and faulty workmanship, and, to the extent such property available, covering the replacement cost thereof;
(b) Wrap-Up Liability insurance pertains to the Premises. If the Prime Lease requires Sublandlord to insure leasehold improvements against claims for personal or alterationsbodily injury, then Subtenant shall insure such leasehold improvements that are located in the Premises, as well as alterations in the Premises made by Subtenant. Subtenant shall furnish to Sublandlord a certificate of Subtenant’s insurance required hereunder not later than ten (10) days prior to Subtenant’s taking possession of the Premises. Each party hereby waives claims against the other for property damage provided such waiver shall not invalidate the waiving party’s property insurance; each party shall attempt to obtain from its insurance carrier a waiver of its right of subrogation. Subtenant hereby waives only those claims against Prime Landlord and Sublandlord for business interruption death or property damage to suffered by others arising in connection with the Premises or its contents, but solely to the extent that Sublandlord is required to waive such claims against Prime Landlord under Paragraph 8 operations of the Prime Lease. Subtenant, and indemnifying and insuring the Headlandlord and the Sublandlord hereby waives and their employees with liability limits no less than Ten Million Dollars ($10,000,000) per occurrence.
(6) Standard owner's automobile liability insurance with limits of not less than Two Million Dollars ($2,000,000.00) in respect of any one accident; and
(7) Any such claims other forms of insurance as the Sublandlord or the Headlandlord, acting reasonably, may require from time to time, in forms, in amounts and for insurance risks against Subtenant for loss of rents or damage to property sustained by Sublandlord to the same degree that such claims are waived by Prime Landlord under Paragraph 8 of the Prime Lease. Subject to the terms herein, Subtenant agrees to use reasonable efforts in good faith to obtain, for the benefit of Prime Landlord and Sublandlord, such waivers of subrogation rights from its insurer as are required of Sublandlord under the Prime Lease. Sublandlord agrees to use reasonable efforts in good faith to obtain from Prime Landlord which a waiver of claims for insurable property damage losses and an agreement from Prime Landlord to obtain a waiver of subrogation rights in Prime Landlord’s property insurance, if and to the extent that Prime Landlord waives such claims against Sublandlord under the Prime Lease or is required under the Prime Lease to obtain such waiver of subrogation rightsprudent tenant would insure.]
Appears in 1 contract
Samples: Sublease