Common use of Tenant Insurance Requirements Clause in Contracts

Tenant Insurance Requirements. For so long as this Lease shall remain in effect, Tenant, at its sole cost and expense and for the benefit of the Landlord, shall purchase and maintain the insurance coverages and comply with the insurance terms and conditions with respect to the Facility Premises, including, without limitation, any construction, use and operation thereof, as set forth on Exhibit D, attached hereto and incorporated herein by this reference. Prior to the entry within the Facility Premises, Tenant shall furnish Landlord with certificates of the policies together with proof of payment of the premium thereof and shall, upon expiration of the term of any such policies similarly furnished to Landlord a certificate of such renewal policy with proof of payment of the premium thereof. Tenant’s commercial general liability policy shall include contractual liability on a blanket or specific basis to cover the Tenant indemnification obligations in Section 14 hereof. Tenant’s commercial general liability policy shall also include coverage against the claims of any and all persons for bodily injuries, death and property damage arising out of the use or occupancy of the Facility Premises by Tenant, its officers, employees, agents, subtenants, guests, patrons or invitees. Tenant’s commercial general liability and automobile liability policies shall name Landlord as additional insured and shall contain a standard cross-liability provision and shall stipulate that no insurance held by Landlord will be called upon to contribute to a loss covered thereunder. Landlord shall have no liability for any premium charges for such coverage, and the inclusion of Landlord as an additional insured is not intended to, and shall not make Landlord a partner or joint venturer with Tenant in Tenant’s activities in the Facility Premises. Such policies shall be for full coverage with any deductibles and/or retentions subject to approval by Landlord and shall contain provisions on the part of the respective insurers waiving the right of subrogation against Landlord. A copy of the above policies, plus certificates evidencing the existence thereof, shall be delivered to Landlord upon its request. If Tenant does not maintain any of the coverage required hereunder, Landlord may purchase such coverage and charge all premiums to Tenant, who shall pay such premiums back immediately. However, there is no obligation on the part of Landlord to purchase any of these coverages. The insurance provided by the Tenant shall apply on a primary basis to, and shall not require contribution from, any other insurance or self-insurance maintained by Landlord, its members that participate in its self-insurance fund, officials, officers, employees and agents. Landlord and Tenant agree to require any other Person that rents, leases or otherwise uses the Facility Premises for a Facility Event to procure and maintain, at its expense, commercially reasonable insurance, taking into account the type of Facility Event and the risks posed thereby. Tenant also agrees to procure and maintain, at Tenant’s sole cost and expense, the following types and amounts (the following limits being minimum requirements) of insurance for the Lease Term, and to furnish certificates confirming such coverage to Landlord, as reasonably requested by Landlord from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering Tenant’s personal property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), on a replacement cost measure-of-recovery basis for the full insurable value thereof. The foregoing insurance shall be subject to the terms and conditions set forth on Exhibit D. To the fullest extent permitted by law, and notwithstanding anything to the contrary set forth in this Lease, Tenant hereby waives any and all right of recovery which it might otherwise have against Landlord or any Landlord Indemnitee for loss or damage to Tenant’s property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), notwithstanding that such loss or damage may result from the negligence or fault of Landlord or any Landlord Indemnitee. Without limiting its liability under this Agreement, Landlord agrees to procure and maintain, at Tenant’s sole cost and expense (payable within thirty (30) days after demand), the following types and amounts (the following limits being minimum requirements) of insurance for the Lease Term, and to furnish certificates confirming such coverage to Tenant, as reasonably requested by Tenant from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering the Facility Premises, on a replacement cost measure-of-recovery basis for the full insurable value thereof. Landlord’s property insurance policy shall name Tenant as an additional insured as its interests may appear. At the election of Tenant, Tenant shall have the right to procure and maintain the insurance required by this Section 15(hhhh), which insurance may be provided through a blanket policy, subject to the requirements in Section 15(dddd) hereof.

Appears in 1 contract

Samples: Lease Agreement

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Tenant Insurance Requirements. For so long as this Lease shall remain in effect, Tenant, at its sole cost and expense and for the benefit of the Landlord, shall purchase and maintain the insurance coverages and comply with the insurance terms and conditions with respect to the Facility Premises, including, without limitation, any construction, use and operation thereof, as set forth on Exhibit D, attached hereto and incorporated herein by this reference. Prior to the entry within the Facility Premises, Tenant shall furnish Landlord with certificates of the policies together with proof of payment of the premium thereof and shall, upon expiration of the term of any such policies similarly furnished to Landlord a certificate of such renewal policy with proof of payment of the premium thereof. Tenant’s commercial general liability policy shall include contractual liability on a blanket or specific basis to cover the Tenant indemnification obligations in Section 14 14.14 hereof. Tenant’s commercial general liability policy shall also include coverage against the claims of any and all persons for bodily injuries, death and property damage arising out of the use or occupancy of the Facility Premises by Tenant, its officers, employees, agents, subtenants, guests, patrons or invitees. Tenant’s commercial general liability and automobile liability policies shall name Landlord as additional insured and shall contain a standard cross-liability provision and shall stipulate that no insurance held by Landlord will be called upon to contribute to a loss covered thereunder. Landlord shall have no liability for any premium charges for such coverage, and the inclusion of Landlord as an additional insured is not intended to, and shall not make Landlord a partner or joint venturer with Tenant in Tenant’s activities in the Facility Premises. Such policies shall be for full coverage with any deductibles and/or retentions subject to approval by Landlord and shall contain provisions on the part of the respective insurers waiving the right of subrogation against Landlord. A copy of the above policies, plus certificates evidencing the existence thereof, shall be delivered to Landlord upon its request. If Tenant does not maintain any of the coverage required hereunder, Landlord may purchase such coverage and charge all premiums to Tenant, who shall pay such premiums back immediately. However, there is no obligation on the part of Landlord to purchase any of these coverages. The insurance provided by the Tenant shall apply on a primary basis to, and shall not require contribution from, any other insurance or self-insurance maintained by Landlord, its members that participate in its self-insurance fund, officials, officers, employees and agents. Each policy shall be written by an insurer holding a current certificate of authority pursuant to chapter 624, Florida Statutes or a company that is declared as an approved Surplus Lines carrier under Chapter 626 Florida Statutes. Such Insurance shall be written by an insurer with an A.M. Best Rating of A-VII or better. Landlord and Tenant agree to require any other Person that rents, leases or otherwise uses the Facility Premises for a Facility Event to procure and maintain, at its expense, commercially reasonable insurance, taking into account the type of Facility Event and the risks posed thereby. Tenant also agrees to procure and maintain, at Tenant’s sole cost and expense, the following types and amounts (the following limits being minimum requirements) of insurance for the Lease Term, and to furnish certificates confirming such coverage to Landlord, as reasonably requested by Landlord from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering Tenant’s personal property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), on a replacement cost measure-of-recovery basis for the full insurable value thereof. The foregoing insurance shall be subject to the terms and conditions set forth on Exhibit D. To the fullest extent permitted by law, and notwithstanding anything to the contrary set forth in this Lease, Tenant hereby waives any and all right of recovery which it might otherwise have against Landlord or any Landlord Indemnitee for loss or damage to Tenant’s property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), notwithstanding that such loss or damage may result from the negligence or fault of Landlord or any Landlord Indemnitee. Without limiting its liability under this Agreement, Landlord agrees to procure and maintain, at Tenant’s sole cost and expense (payable within thirty (30) days after demand), the following types and amounts (the following limits being minimum requirements) of insurance for the Lease Term, and to furnish certificates confirming such coverage to Tenant, as reasonably requested by Tenant from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering the Facility Premises, on a replacement cost measure-of-recovery basis for the full insurable value thereof. Landlord’s property insurance policy shall name Tenant as an additional insured as its interests may appear. At the election of Tenant, Tenant shall have the right to procure and maintain the insurance required by this Section 15(hhhh15(c),15(e), which insurance may be provided through a blanket policy, subject to the requirements in Section 15(dddd15(a). ) hereof.

Appears in 1 contract

Samples: Lease Agreement

Tenant Insurance Requirements. For so long as this Lease Tenant shall remain in effect, Tenant, procure at its sole cost and expense and for keep in effect during the benefit of Term the Landlord, shall purchase and maintain the following insurance: (i) Commercial general liability insurance coverages and comply with the insurance terms and conditions with respect to the Facility PremisesPremises and Project on an occurrence form, including contractual liability, with a minimum combined single limit of liability of Four Million Dollars ($4,000,000) per occurrence. The limits of such insurance shall not limit the liability of Tenant hereunder, and Tenant is responsible for ensuring that the amount of liability insurance carried by Tenant is sufficient for Tenant’s purposes. (ii) “All risk” property insurance (including, without limitation, any constructionboiler and machinery (if applicable), use sprinkler damage, vandalism and operation thereofmalicious mischief), as set forth with earthquake sprinkler leakage endorsement, insuring (A) the existing leasehold improvements within the Premises (the “Leasehold Improvements”), (B) Tenant’s Personal Property, and (C) all Alterations constructed on Exhibit D, attached hereto or after the Commencement Date. Such insurance shall be in an amount equal to full replacement cost of the aggregate of the foregoing and incorporated herein by this reference. Prior shall provide coverage comparable to the entry within coverage in the Facility Premisesstandard ISO All Risk form, when such form is supplemented with the coverages required herein. (iii) During the course of construction of any Alterations, Tenant shall furnish Landlord purchase and keep in force Comprehensive Builder’s Risk/Course of Construction insurance, with certificates of the same requirements as property insurance policies together described above but with proof of payment of appropriate adjustments to reflect that the premium thereof and shall, upon expiration of the term of any such policies similarly furnished to Landlord a certificate of such renewal policy with proof of payment of the premium thereof. TenantAlterations are under construction. (iv) Worker’s commercial general liability policy shall include contractual liability on a blanket or specific basis to cover the Tenant indemnification obligations in Section 14 hereof. Tenant’s commercial general liability policy shall also include coverage against the claims of any and all persons for bodily injuries, death and property damage arising out of the use or occupancy of the Facility Premises compensation insurance as may be required by Tenant, its officers, employees, agents, subtenants, guests, patrons or invitees. Tenant’s commercial general liability and automobile liability policies shall name Landlord as additional insured and shall contain a standard cross-liability provision and shall stipulate that no insurance held by Landlord will be called upon to contribute to a loss covered thereunder. Landlord shall have no liability for any premium charges for such coverage, and the inclusion of Landlord as an additional insured is not intended to, and shall not make Landlord a partner or joint venturer with Tenant in Tenant’s activities in the Facility Premises. Such policies shall be for full coverage with any deductibles and/or retentions subject to approval by Landlord and shall contain provisions on the part of the respective insurers waiving the right of subrogation against Landlord. A copy of the above policies, plus certificates evidencing the existence thereof, shall be delivered to Landlord upon its request. If Tenant does not maintain any of the coverage required hereunder, Landlord may purchase such coverage and charge all premiums to Tenant, who shall pay such premiums back immediately. However, there is no obligation on the part of Landlord to purchase any of these coverages. The insurance provided by the law. (v) Tenant shall apply on a primary basis to, carry and shall not require contribution from, any other insurance or self-insurance maintained by Landlord, its members that participate in its self-insurance fund, officials, officers, employees and agents. Landlord and Tenant agree to require any other Person that rents, leases or otherwise uses maintain during the Facility Premises for a Facility Event to procure and maintain, at its expense, commercially reasonable insurance, taking into account the type of Facility Event and the risks posed thereby. Tenant also agrees to procure and maintainentire Term, at Tenant’s sole cost and expense, increased amounts of the following types insurance required to be carried by Tenant pursuant to this Section 10(d). Insurance required to be carried by Tenant under this Section 10(d) shall be in financially responsible companies licensed to do business in California and amounts rated “A” IX or better in “Best’s Insurance Guide”. In addition, commercial general liability insurance shall name Landlord, any Mortgagee (the following limits being minimum requirements) of insurance for the Lease Termwhom Tenant has received written notice from Landlord), any ground lessor (of whom Tenant has received written notice from Landlord), and to furnish certificates confirming such coverage other parties as Landlord may reasonably request in writing as additional insureds (by endorsement in a form reasonably acceptable to Landlord), as reasonably requested shall specifically include the liability assumed hereunder by Landlord from time-to-time: “all risk” (also known as “special forms perils”) property Tenant, and shall provide that it is primary insurance, providing coverage that is no less broad than the ISO Cause and not excess over or contributory with any other valid, existing and applicable insurance in force for or on behalf of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering Tenant’s personal property, furniture, fixturesLandlord, and equipment (including, without limitation, all LED Screens), on a replacement cost measure-of-recovery basis for the full insurable value thereof. The foregoing insurance shall be subject to the terms provide that Landlord and conditions set forth on Exhibit D. To the fullest extent permitted by law, and notwithstanding anything to the contrary set forth in this Lease, Tenant hereby waives any and all right of recovery which it might otherwise have against Landlord or any Landlord Indemnitee for loss or damage to Tenant’s property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), notwithstanding that such loss or damage may result from the negligence or fault of Landlord or any Landlord Indemnitee. Without limiting its liability under this Agreement, Landlord agrees to procure and maintain, at Tenant’s sole cost and expense (payable within other additional insured shall receive thirty (30) days after demanddays’ written notice from the insurer prior to any cancellation or material reduction in coverage (with any reduction that causes such insurance to not comply with the requirements of this Lease being conclusively deemed material, without limitation as to other changes that may be deemed material), . Tenant shall deliver copies of certificates of such policies naming the following types and amounts (additional insureds thereof to Landlord on or before the following limits being minimum requirements) of insurance for the Lease TermCommencement Date, and to furnish certificates confirming such coverage to Tenantthereafter at least ten (10) days before the expiration dates of expiring policies, as reasonably requested by Tenant from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause and at Landlord request shall deliver copies of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering the Facility Premises, on a replacement cost measure-of-recovery basis for the full insurable value thereof. Landlord’s property insurance policy shall name Tenant as an additional insured as its interests may appear. At the election of Tenant, Tenant shall have the right to procure and maintain the insurance required by this Section 15(hhhh), which insurance may be provided through a blanket policy, subject to the requirements in Section 15(dddd) hereof.such

Appears in 1 contract

Samples: Lease Agreement (Brocade Communications Systems Inc)

Tenant Insurance Requirements. For so long as Anything contained in this Lease to the contrary notwithstanding, Tenant hereby covenants, warrants and agrees that Tenant shall remain procure insurance (hereinafter referred to as “Tenant Insurance”) as such Tenant Insurance is hereinafter specifically set forth and described. Tenant Insurance shall: consist of a policy or policies of comprehensive general liability insurance with bodily injury, property damage, personal injury, death and contractual liability endorsements and any other endorsements necessary to cover Tenant’s obligations herein; insure and defend against any and all claims of injuries, damages, costs and expenses to any person(s) and/or property as a result of an incident occurring in, upon, on or about the Leased Premises, including all injuries, damages, costs and expenses, including but not limited to such resulting from signs, glass, awnings, fixtures or other appurtenances now or hereafter erected on, about or within the Leased Premises; be procured and maintained in effect, Tenant, full force and effect by Tenant at its sole cost and expense and continue in full force and effect during the Term, any renewals or extensions thereof, any holdover period under the Lease, any tenancy by whatsoever name called and any period of occupancy by Tenant of the Leased Premises prior to the Commencement Date or subsequent to the expiration or earlier termination of this Lease; be procured and maintained for the mutual benefit of the Tenant, Landlord, Xxxxxxxx’s mortgagee(s) and Landlord’s ground lessor(s), if any, (hereinafter collectively referred to as the “Additional Insureds”) and shall purchase and maintain provide that the Additional Insureds be named as additional insureds thereon or thereunder under all policies of insurance coverages and comply with required of Tenant hereunder; provide that Tenant furnish certificates or endorsements containing a provision that the insurance terms and conditions with respect to the Facility Premises, including, without limitation, any construction, use and operation thereof, as set forth on Exhibit D, attached hereto and incorporated herein by this reference. Prior to the entry within the Facility Premises, Tenant shall furnish Landlord with certificates insurer or supplier of the policies together with proof of payment of the premium thereof and shallTenant Insurance shall not cancel, upon expiration of the term of any such policies similarly furnished terminate, amend or refuse to Landlord a certificate of such renewal policy with proof of payment of the premium thereof. renew Tenant’s commercial general liability policy shall include contractual liability on a blanket Insurance, or specific basis to cover change in any material way the Tenant indemnification obligations in Section 14 hereof. Tenant’s commercial general liability policy shall also include coverage against the claims of any and all persons for bodily injuries, death and property damage arising out of the use nature or occupancy of the Facility Premises by Tenant, its officers, employees, agents, subtenants, guests, patrons or invitees. Tenant’s commercial general liability and automobile liability policies shall name Landlord as additional insured and shall contain a standard cross-liability provision and shall stipulate that no insurance held by Landlord will be called upon to contribute to a loss covered thereunder. Landlord shall have no liability for any premium charges for such coverage, and the inclusion of Landlord as an additional insured is not intended to, and shall not make Landlord a partner or joint venturer with Tenant in Tenant’s activities in the Facility Premises. Such policies shall be for full coverage with any deductibles and/or retentions subject to approval by Landlord and shall contain provisions on the part of the respective insurers waiving the right of subrogation against Landlord. A copy of the above policies, plus certificates evidencing the existence thereof, shall be delivered to Landlord upon its request. If Tenant does not maintain any extent of the coverage required hereunder, Landlord may purchase such coverage and charge all premiums to Tenant, who shall pay such premiums back immediately. However, there is no obligation on the part of Landlord to purchase any of these coverages. The insurance provided by the Tenant shall apply on a primary basis to, and shall not require contribution from, any other insurance such policy or self-insurance maintained by Landlord, its members that participate in its self-insurance fund, officials, officers, employees and agents. Landlord and Tenant agree to require any other Person that rents, leases or otherwise uses the Facility Premises for a Facility Event to procure and maintain, at its expense, commercially reasonable insurance, taking into account the type of Facility Event and the risks posed thereby. Tenant also agrees to procure and maintain, at Tenant’s sole cost and expense, the following types and amounts (the following limits being minimum requirements) of insurance for the Lease Term, and to furnish certificates confirming such coverage to Landlord, as reasonably requested by Landlord from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering Tenant’s personal property, furniture, fixtures, and equipment (including, policies without limitation, all LED Screens), on a replacement cost measure-of-recovery basis for the full insurable value thereof. The foregoing insurance shall be subject first giving to the terms and conditions set forth on Exhibit D. To the fullest extent permitted by law, and notwithstanding anything to the contrary set forth in this Lease, Tenant hereby waives any and all right of recovery which it might otherwise have against Landlord or any Landlord Indemnitee for loss or damage to Tenant’s property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), notwithstanding that such loss or damage may result from the negligence or fault of Landlord or any Landlord Indemnitee. Without limiting its liability under this Agreement, Landlord agrees to procure and maintain, at Tenant’s sole cost and expense (payable within Additional Insureds thirty (30) days after demand)prior written notice by certified mail, return receipt requested. Landlord may at any time, and from time to time, inspect and/or copy any and all insurance policy or policies required to be procured by Tenant pursuant to the following types terms of this Lease; provide that the insurance carrier or carriers be reasonably satisfactory to Landlord and amounts licensed in the State in which the Leased Premises are located. The insurance carrier or carriers shall at all times during the Term of this Lease, or any extensions thereof or any additional periods of tenancy, have a policyholder’s rating of not less than “A+/7” in the most current edition of Best’s Insurance Reports; include a waiver by the insurer or insurers of all rights of subrogation against the Additional Insureds and their shareholders, directors, partners, officers, managers, members, employees, representatives, agents and successors and/or assigns, which arise or might arise by reason of any payment under such policy or policies or by reason of any act or omission of the Additional Insureds, their shareholders, directors, partners, officers, managers, members, employees, representatives, agents and successors and/or assigns; provide that Landlord shall have the reasonable right from time to time, on not less than thirty (30) days prior written notice, to require that Tenant increase the following limits being amount and/or type of coverage required to be maintained under this Lease; provide that each policy or policies evidencing the Tenant Insurance shall contain a clause that such policy and the coverage evidenced thereby shall be primary with respect to any policies covered by Landlord and that any coverage carried by Landlord shall be excess insurance; provide that the Tenant Insurance may be furnished by Tenant under a blanket policy carried by Xxxxxx. Such blanket policy shall contain an endorsement which names the Additional Insureds as additional insureds, references the Leased Premises and guarantees a minimum requirements) of insurance limit available for the Lease TermLeased Premises equal to the insurance amounts required under the provisions of this Lease; provide that Tenant Insurance at all times be in an amount of not less than Two Million Dollars ($2,000,000,00) for each occurrence. In the event Tenant fails to procure, maintain and/or pay for the Tenant Insurance required above, at the times and for the duration specified above, or Tenant’s insurance carrier or carriers are unable, refuse or neglect to properly evidence all of the requirements above set forth in regard to the Additional Insureds, Landlord shall have the right, but not the obligation, at any time and from time to time, and to furnish certificates confirming such coverage upon ten (10) days written notice to Tenant, to procure Tenant Insurance as reasonably requested provided for above, and/or pay the premiums for such Tenant Insurance, in which event Tenant shall repay Landlord, immediately upon demand by Tenant from time-to-time: “Landlord, as Additional Rent, all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use sums so paid by Landlord together with interest at the timedefault rate thereon and any costs or expenses incurred by Landlord in connection therewith, covering without prejudice to any other rights and remedies of Landlord under this Lease. Tenant acknowledges that non-compliance with any requirement hereinabove set forth shall be an absolute default under the Facility Premises, on a replacement cost measure-of-recovery basis for the full insurable value thereof. Landlord’s property insurance policy shall name Tenant as an additional insured as its interests may appear. At the election terms of Tenant, Tenant shall have the right to procure and maintain the insurance required by this Section 15(hhhh), which insurance may be provided through a blanket policy, subject to the requirements in Section 15(dddd) hereofLease.

Appears in 1 contract

Samples: Lease (BYTE Acquisition Corp.)

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Tenant Insurance Requirements. For so long as this Lease shall remain in effect, Tenant, at its sole cost and expense and for the benefit of the Landlord, shall purchase and maintain the insurance coverages and comply with the insurance terms and conditions with respect to the Facility Premises, including, without limitation, any construction, use and operation thereof, as set forth on Exhibit D, attached hereto and incorporated herein by this reference. Prior to the entry within the Facility Premises, Tenant shall furnish Landlord with certificates of the policies together with proof of payment of the premium thereof and shall, upon expiration of the term of any such policies similarly furnished to Landlord a certificate of such renewal policy with proof of payment of the premium thereof. Tenant’s commercial general liability policy shall include contractual liability on a blanket or specific basis to cover the Tenant indemnification obligations in Section 14 1414 hereof. Tenant’s commercial general liability policy shall also include coverage against the claims of any and all persons for bodily injuries, death and property damage arising out of the use or occupancy of the Facility Premises by Tenant, its officers, employees, agents, subtenants, guests, patrons or invitees. Tenant’s commercial general liability and automobile liability policies shall name Landlord as additional insured and shall contain a standard cross-liability provision and shall stipulate that no insurance held by Landlord will be called upon to contribute to a loss covered thereunder. Landlord shall have no liability for any premium charges for such coverage, and the inclusion of Landlord as an additional insured is not intended to, and shall not make Landlord a partner or joint venturer with Tenant in Tenant’s activities in the Facility Premises. Such policies shall be for full coverage with any deductibles and/or retentions subject to approval by Landlord and shall contain provisions on the part of the respective insurers waiving the right of subrogation against Landlord. A copy of the above policies, plus certificates evidencing the existence thereof, shall be delivered to Landlord upon its request. If Tenant does not maintain any of the coverage required hereunder, Landlord may purchase such coverage and charge all premiums to Tenant, who shall pay such premiums back immediately. However, there is no obligation on the part of Landlord to purchase any of these coverages. The insurance provided by the Tenant shall apply on a primary basis to, and shall not require contribution from, any other insurance or self-insurance maintained by Landlord, its members that participate in its self-insurance fund, officials, officers, employees and agents. Landlord and Tenant agree to require any other Person that rents, leases or otherwise uses the Facility Premises for a Facility Event to procure and maintain, at its expense, commercially reasonable insurance, taking into account the type of Facility Event and the risks posed thereby. Tenant also agrees to procure and maintain, at Tenant’s sole cost and expense, the following types and amounts (the following limits being minimum requirements) of insurance for the Lease Term, and to furnish certificates confirming such coverage to Landlord, as reasonably requested by Landlord from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering Tenant’s personal property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), on a replacement cost measure-of-recovery basis for the full insurable value thereof. The foregoing insurance shall be subject to the terms and conditions set forth on Exhibit D. To the fullest extent permitted by law, and notwithstanding anything to the contrary set forth in this Lease, Tenant hereby waives any and all right of recovery which it might otherwise have against Landlord or any Landlord Indemnitee for loss or damage to Tenant’s property, furniture, fixtures, and equipment (including, without limitation, all LED Screens), notwithstanding that such loss or damage may result from the negligence or fault of Landlord or any Landlord Indemnitee. Without limiting its liability under this Agreement, Landlord agrees to procure and maintain, at Tenant’s sole cost and expense (payable within thirty (30) days after demand), the following types and amounts (the following limits being minimum requirements) of insurance for the Lease Term, and to furnish certificates confirming such coverage to Tenant, as reasonably requested by Tenant from time-to-time: “all risk” (also known as “special forms perils”) property insurance, providing coverage that is no less broad than the ISO Cause of Loss Special Form or equivalent ISO all risk coverage form in use at the time, covering the Facility Premises, on a replacement cost measure-of-recovery basis for the full insurable value thereof. Landlord’s property insurance policy shall name Tenant as an additional insured as its interests may appear. At the election of Tenant, Tenant shall have the right to procure and maintain the insurance required by this Section 15(hhhh15(e),15(e), which insurance may be provided through a blanket policy, subject to the requirements in Section 15(dddd15(a)15(a) hereof.

Appears in 1 contract

Samples: Lease Agreement

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