Tenant to Insure. The Tenant covenants with the Landlord that it will, at the Tenant’s cost and expense, take out and keep in force the insurance described below throughout the Term and any period when it is in possession of the Premises. The Tenant covenants to maintain insurance as follows: (a) all risks (including flood and earthquake) property insurance in an amount equal to 100% of the full replacement cost: (i) insuring all property owned by the Tenant, or for which the Tenant is legally liable, or installed by or on behalf of the Tenant, and located within the Clubhouse, including, but not limited to, fittings, installations, alterations, additions, partitions, and all other leasehold improvements; and (ii) naming the Landlord as a loss payee as their respective interests may appear; (b) commercial general liability insurance including coverage for death, personal injury liability, contractual liability, non-owned automobile liability, employers’ liability, and owners’ and contractors’ protective insurance coverage, with respect to the Premises and the Tenant’s use of the Common Areas and Common Facilities, with coverage including the activities and operations conducted by the Tenant and any other person on the Premises and by the Tenant and other person performing work on behalf of the Tenant and those for whom the Tenant is in law responsible, in any other part of the Clubhouse. These policies will: (i) be written on a comprehensive basis with inclusive limits of at least $5,000,000 per occurrence for bodily injury for any one or more persons, or property damage (but the Landlord acting reasonably may require higher limits from time to time); (ii) name the Landlord as an additional insured; (c) any other form of insurance and with whatever higher limits that the Landlord, acting reasonably, may require from time to time. All policies will: (a) be taken out with insurers acceptable to the Landlord; (b) be in a form satisfactory to the Landlord; (c) be non-contributing with, and will apply only as primary and not in excess to any other insurance available to the Landlord; (d) not be invalidated with respect to the interests of the Landlord by reason of any breach or violation of warranties, representations, declarations, or conditions contained in the policies; and (e) contain an undertaking by the insurers to notify the Landlord in writing not less than 30 days before any material change, cancellation, or termination. The Tenant will deliver certificates of insurance duly executed by the Tenant’s insurers evidencing that the required insurance is in force, or, if required by the Landlord, the Tenant will deliver certified copies of each insurance policy as soon as possible after the placing of the insurance. No review or approval of any insurance certificate or insurance policy by the Landlord derogates from or diminishes the Landlord’s rights under this Lease.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Tenant to Insure. The Tenant covenants with the Landlord that it will, at the Tenant’s cost and expense, take out and keep in force the insurance described below throughout the Term and any period when it is in possession of the Premises. The Tenant covenants to maintain insurance as follows:
(a) all risks (including flood and earthquake) property insurance in an amount equal to 100% of the full replacement cost:
(i) insuring all property owned by the Tenant, or for which the Tenant is legally liable, or installed by or on behalf of the Tenant, and located within the ClubhouseDevelopment, including, but not limited to, fittings, installations, alterations, additions, partitions, and all other leasehold improvements;
(ii) insuring the Tenant’s inventory, furniture, and movable equipment to the extent that such insurance is commercially available; and
(iiiii) naming the Landlord and any Mortgagee as a loss payee as their respective interests may appear;
(b) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for each accident in an amount of at least the replacement cost of all leasehold improvements and of all boilers, pressure vessels, air-conditioning equipment, and miscellaneous electrical apparatus owned or operated by the Tenant or by others (except for the Landlord) on behalf of the Tenant in the Premises, or relating to, or serving the Premises;
(c) business interruption insurance in an amount that will reimburse the Tenant for direct or indirect loss of earnings attributable to all perils insured against under Sections 9.1(a) and 9.1(b), and other perils commonly insured against by prudent tenants, or attributable to prevention of access to the Premises or the Development as a result of those perils;
(d) commercial general liability insurance including coverage for death, personal injury liability, contractual liability, non-owned automobile liability, employers’ liability, and owners’ and contractors’ protective insurance coverage, with respect to the Premises and the Tenant’s use of the Common Areas and Common Facilities, with coverage including the activities and operations conducted by the Tenant and any other person on the Premises and by the Tenant and other person performing work on behalf of the Tenant and those for whom the Tenant is in law responsible, in any other part of the ClubhouseDevelopment. These policies will:
(i) be written on a comprehensive basis with inclusive limits of at least $5,000,000 per occurrence for bodily injury for any one or more persons, or property damage (but the Landlord acting reasonably reasonably, or any Mortgagee of the Development, may require higher limits from time to time);
(ii) name contain a severability of interests section and cross-liability sections; and
(iii) naming the Landlord and any Mortgagee of the Development as an additional insuredinsureds;
(ce) tenant’s legal liability insurance for the full replacement cost of the Premises, including loss of their use;
(f) standard owner’s form automobile insurance providing third party liability insurance with $2,000,000 inclusive limits, and accident benefits insurance, covering all licensed vehicles owned or operated by or on behalf of the Tenant; and
(g) any other form of insurance and with whatever higher limits that the Tenant, the Landlord, acting reasonably, may require or any Mortgagee of the Development requires from time to time, in form, in amounts, and for risks against which a prudent tenant would insure.
(c) will contain a standard mortgage clause, if there is any Mortgagee of the Development. If there is a dispute as to the amount of the full replacement cost, the Landlord will determine it. The policies specified under Sections 9.1(a), 9.1(b), and 9.1(c) will contain a waiver of any subrogation rights which the Tenant’s insurers may have against all and any of the Landlord, any Mortgagee of the Development, and those for whom the Landlord or Mortgagee, as applicable, is in law responsible, whether or not the damage is caused by their act, omission, or negligence. The Tenant hereby waives its rights of subrogation against such parties. All policies will:
(a) be taken out with insurers acceptable to the Landlord;
(b) be in a form satisfactory to the Landlord;
(c) be non-contributing with, and will apply only as primary and not in excess to any other insurance available to the LandlordLandlord and any Mortgagee of the Development;
(d) not be invalidated with respect to the interests of the Landlord and any Mortgagee of the Development by reason of any breach or violation of warranties, representations, declarations, or conditions contained in the policies; and
(e) contain an undertaking by the insurers to notify the Landlord or any Mortgagee of the Development in writing not less than 30 days before any material change, cancellation, or termination. The Tenant will deliver certificates of insurance duly executed by the Tenant’s insurers evidencing that the required insurance is in force, or, if required by the LandlordLandlord or any Mortgagee of the Development, the Tenant will deliver certified copies of each insurance policy as soon as possible after the placing of the insurance. No review or approval of any insurance certificate or insurance policy by the Landlord derogates from or diminishes the Landlord’s rights under this Lease.
Appears in 1 contract
Samples: Lease Agreement
Tenant to Insure. The Tenant covenants with the Landlord that it will, at the Tenant’s cost and expense, take out and keep in force the insurance described below throughout the Term and any period when it is in possession of the Premises. The Tenant covenants to maintain insurance as follows:
(a) all risks (including flood and earthquake) property insurance in an amount equal to 100% of the full replacement costThe Tenant shall insure:
(i) insuring all property owned by the TenantPremises against the Insured Risks with an insurer of repute in their full reinstatement cost, or for which including the Tenant is legally liablecosts of demolition and site clearance, or installed by or on behalf of the TenantValue Added Tax and architects’, surveyors’ and located within the Clubhouse, including, but not limited to, fittings, installations, alterations, additions, partitions, and all other leasehold improvementsprofessional fees; and
(ii) naming against public liability of the Landlord as a loss payee as their respective interests may appear;in connection with any matter relating to the Premises or the occupation or use of the Premises by the Tenant or anyone at the Premises with the express or implied authority of the Tenant.
(b) commercial general liability The Tenant shall not be in breach of its obligations under Clause 3.17(a) where any Insured Risk cannot be insured on the London insurance including coverage for death, personal injury liability, contractual liability, non-owned automobile liability, employers’ liability, and owners’ and contractors’ protective insurance coverage, with respect market or is otherwise only available at a premium or subject to the Premises and onerous conditions which in the Tenant’s use of the Common Areas and Common Facilities, with coverage including the activities and operations conducted by opinion (acting reasonably) are unreasonable but the Tenant and any other person on the Premises and by the Tenant and other person performing work on behalf of the Tenant and those for whom the Tenant is in law responsible, in any other part of the Clubhouse. These policies will:
(i) be written on a comprehensive basis with inclusive limits of at least $5,000,000 per occurrence for bodily injury for any one or more persons, or property damage (but shall advise the Landlord acting reasonably may require higher limits from if at any time to time);
(ii) name the Landlord as an additional insured;such non insurance shall arise.
(c) any other form of In each case such insurance shall be subject to such exceptions, excesses and with whatever higher limits that the Landlord, acting reasonably, conditions as may require be usual from time to time. All policies will:
(a) be taken out with insurers acceptable to time in the Landlord;
(b) be in a form satisfactory to the Landlord;
(c) be non-contributing with, and will apply only as primary and not in excess to any other London insurance available to the Landlord;market.
(d) not Insurance under both 3.17(a)(i) and (ii) and 3.17(f) will be invalidated with respect to effected in the interests name of the Tenant with the Landlord by reason of any breach or violation of warranties, representations, declarations, or conditions contained in named as an additional insured together with such further interests noted thereon as the policies; andTenant may require and the Landlord (acting reasonably) may request.
(e) contain an undertaking by The Tenant will supply the insurers to Landlord (but not more than twice in any 12 month period) with a copy of the insurance policy for the Premises and evidence of payment of the relevant premium and will notify the Landlord in writing not less than 30 days before any material change, cancellation, or termination. The Tenant will deliver certificates of insurance duly executed by the Tenant’s insurers evidencing that the required insurance is in force, or, if required by the Landlord, the Tenant will deliver certified copies of each insurance policy as soon as possible after reasonably practicable thereafter of any material change in the placing terms of the insurance. No review policy.
(f) If (in the Landlord’s reasonable opinion) the insurance taken out by the Tenant is not in accordance with Clause 3.17(a)(i) then the Tenant must as soon as reasonably practicable (after receiving written notice from the Landlord specifying the amount of cover it deems to be in accordance with Clause 3.17(a)(i) together with relevant supporting documentation) increase or approval alter (as appropriate) the cover in accordance with such notice at its own cost and provide the Landlord with evidence of any such increase within 10 working days of the date of the notice provided that such cover is reasonably available in the London insurance certificate or insurance policy market on reasonable terms.
(g) If the Tenant fails to comply with Clause 3.17(f) having first been provided with notice by the Landlord derogates from and all relevant supporting documentation then the Landlord may increase or diminishes alter (as appropriate) the Landlord’s rights under this Leaseinsurance cover on behalf of and in the name of the Tenant to the level set out in its notice served on the Tenant pursuant to Clause 3.17(f) and the Tenant shall pay to the Landlord on demand the proper cost of such increase in the cover.
(h) The Tenant hereby acknowledges that for the purpose of clauses 3.17(f) and 3.17
Appears in 1 contract
Samples: Lease (Bookham, Inc.)
Tenant to Insure. The Tenant covenants with the Landlord that it will, at the Tenant’s cost and expense, take out and keep in force the insurance described below throughout the Term and any period when it is in possession of the Premises. The Tenant covenants to maintain insurance as follows:
(a) all risks (including flood and earthquake) property insurance in an amount equal to 100% of the full replacement cost:
(i) insuring all property owned by the Tenant, or for which the Tenant is legally liable, or installed by or on behalf of the Tenant, and located within the ClubhouseBuilding, including, but not limited to, fittings, installations, alterations, additions, partitions, and all other leasehold improvements; and
(ii) naming the Landlord as a loss payee as their respective interests may appear;
(b) commercial general liability insurance including coverage for death, personal injury liability, contractual liability, non-owned automobile liability, employers’ liability, and owners’ and contractors’ protective insurance coverage, with respect to the Premises and the Tenant’s use of the Common Areas and Common Facilities, with coverage including the activities and operations conducted by the Tenant and any other person on the Premises and by the Tenant and other person performing work on behalf of the Tenant and those for whom the Tenant is in law responsible, in any other part of the ClubhouseBuilding. These policies will:
(i) be written on a comprehensive basis with inclusive limits of at least $5,000,000 per occurrence for bodily injury for any one or more persons, or property damage (but the Landlord acting reasonably may require higher limits from time to time);
(ii) name the Landlord as an additional insured;
(c) any other form of insurance and with whatever higher limits that the Landlord, acting reasonably, may require from time to time. All policies will:
(a) be taken out with insurers acceptable to the Landlord;
(b) be in a form satisfactory to the Landlord;
(c) be non-contributing with, and will apply only as primary and not in excess to any other insurance available to the Landlord;
(d) not be invalidated with respect to the interests of the Landlord by reason of any breach or violation of warranties, representations, declarations, or conditions contained in the policies; and
(e) contain an undertaking by the insurers to notify the Landlord in writing not less than 30 days before any material change, cancellation, or termination. The Tenant will deliver certificates of insurance duly executed by the Tenant’s insurers evidencing that the required insurance is in force, or, if required by the Landlord, the Tenant will deliver certified copies of each insurance policy as soon as possible after the placing of the insurance. No review or approval of any insurance certificate or insurance policy by the Landlord derogates from or diminishes the Landlord’s rights under this Lease.
Appears in 1 contract
Samples: Lease Agreement
Tenant to Insure. (a) The Tenant covenants is to:
(i) at all times during the Term insure the Premises under a Standard Policy covering the Insured Risks and the Reinstating Cost and the loss of Basic Rent and Additional Rent from time to time for three (3) years or such longer time as the Tenant shall properly and reasonably consider to be sufficient for the purposes of planning and carrying out such rebuilding or reinstatement with any addition to the amount insured that the Tenant may decide in respect of VAT in the name of the Tenant with the interest of the Landlord (either specifically or automatically) noted on such policy as first loss payee in respect of any monies paid out in excess of one hundred thousand pounds (£100,000), with the exception of third party liability claim payments;
(ii) use reasonable endeavours to procure that it willany policy obtained by the Tenant in satisfaction of this clause 18 includes a waiver of subrogation provision in favour of the Landlord;
(iii) procure insurance with Standard Insurers in the joint names of the Landlord and the Tenant against all public liability risks of the Tenant to third parties arising out of or in connection with any matter relating to the Premises in an amount of not less than ten million pounds (£10,000,000) Index Linked (for each and every claim and with no annual aggregate limit) or as the Landlord (acting reasonably) may from time to time require and notify to the Tenant in writing, such policy to be on terms approved by the Landlord (such approval not to be unreasonably withheld or delayed);
(iv) make all payments necessary for the purposes of obtaining and maintaining the insurances required under clauses 18.1(a)(i) and 18.1(a)(iii) and shall upon request from time to time, produce to the Landlord a copy or full details of the insurance policies effected in accordance with this Lease and all endorsements on such insurance policies and evidence that they are in force (including evidence that the last premium has been paid);
(v) not less than once in every five (5) years obtain at no cost to the Landlord an independent professional valuation of the Reinstating Cost of the Premises and to provide a copy of such valuation within ten (10) Working Days of its receipt by the Tenant;
(vi) pay to the Landlord within twenty-eight (28) days of written demand the Landlord’s cost proper costs of any independent professional valuation of the Reinstating Cost of the Premises obtained by the Landlord or on its behalf (as evidenced by appropriate receipt and/or invoices) if the Tenant has either failed to comply with clause 18.1(a)(v) or the Landlord and expense, take the Tenant are otherwise in dispute as to the provisions of this clause 18;
(vii) comply and to use its reasonable endeavours to procure compliance by all persons acting for or under the control of the Tenant with the requirements and recommendations of the insurers (including as to the carrying out of any Works);
(viii) not to knowingly do anything and keep shall use all reasonable endeavours not to permit anything to be done upon the Premises or any part thereof which may render any of the Landlord’s policy or policies of insurance void or voidable in force relation to the Railway Assets and Premises or the operation of the Railway Undertaking;
(ix) not to and to use its reasonable endeavours to procure all persons acting for or under the control of the Tenant do not carry on or permit any trade business or activity which may make any policy of insurance described below throughout relating to the Term Premises void or voidable or as a result of which payment of policy money might be withheld in whole or in part;
(x) notify the Landlord immediately in writing upon becoming aware of the same of any damage to or destruction of the Premises or any claim under any of the insurances referred to in this clause (in each case whether or not caused by an Insured Risk); and
(xi) notify the Landlord as soon as reasonably practicable on the Tenant becoming aware of any material changes in a policy of insurance procured by the Tenant.
(b) Any money received under any policy of insurance effected in accordance with clause 18.1(a)(i) shall be placed in a separate bank account in the name of the Tenant and any period when it is for the benefit of the Landlord to be applied in possession reimbursement of expenditure incurred by the Tenant in reinstating the Premises. The If the Premises are reinstated any surplus of the insurance monies belongs to the Tenant. In the event the Tenant covenants has not commenced the reinstatement of the Premises within 6 (six) years after the date of damage or destruction (other than to maintain restore reasonable amenity to the Railway Assets and Premises as required by Clauses 18.2(a)(iv) and 18.2(b)), or if earlier, it is apparent that the necessary consents and approvals for the same cannot be obtained to enable commencement of those Works by such date the balance of insurance monies received shall be paid to the Landlord and the Tenant in the proportion of the value of their respective interests as follows:
(a) all risks (including flood and earthquake) property insurance in an amount equal to 100% of the full replacement cost:
(i) insuring all property owned by the Tenant, Landlord's right to receive rents under this Lease assuming that the Premises are not damaged or for which the Tenant is legally liable, or installed by or on behalf of the Tenant, and located within the Clubhouse, including, but not limited to, fittings, installations, alterations, additions, partitions, and all other leasehold improvementsdestroyed; and
(ii) naming the Landlord as a loss payee as their respective interests may appear;
(b) commercial general liability insurance including coverage for death, personal injury liability, contractual liability, non-owned automobile liability, employers’ liability, and owners’ and contractors’ protective insurance coverage, with respect to Tenant's rights under this Lease assuming that the Premises and the Tenant’s use of the Common Areas and Common Facilities, with coverage including the activities and operations conducted by the Tenant and any other person on the Premises and by the Tenant and other person performing work on behalf of the Tenant and those for whom the Tenant is in law responsible, in any other part of the Clubhouse. These policies will:
(i) be written on a comprehensive basis with inclusive limits of at least $5,000,000 per occurrence for bodily injury for any one are not damaged or more persons, or property damage (but the Landlord acting reasonably may require higher limits from time to time);
(ii) name the Landlord as an additional insured;destroyed.
(c) If the Tenant does not insure or procure all or any other form of insurance and with whatever higher limits that the Landlord, acting reasonably, may require from time to time. All policies will:
(a) be taken out with insurers acceptable to the Landlord;
(b) be in a form satisfactory to the Landlord;
(c) be non-contributing with, and will apply only as primary and not in excess to any other insurance available to the Landlord;
(d) not be invalidated with respect to the interests of the Landlord insurances required by reason of any breach this clause 18 or violation of warranties, representations, declarations, or conditions contained in the policies; and
(e) contain an undertaking by the insurers fails to notify the Landlord in writing not less than 30 days before any material change, cancellation, or termination. The Tenant will deliver certificates of insurance duly executed by the Tenant’s insurers evidencing produce reasonable evidence that the required insurance is such insurances are in force, or, if required by the Landlord, the Tenant will deliver certified copies of each insurance policy as soon as possible after the placing of the insurance. No review or approval of any insurance certificate or insurance policy by the Landlord derogates from or diminishes may itself effect such insurance cover as it may consider prudent and the proper cost of so doing together with the Landlord’s rights under this Leaseproper management and administrative costs for so doing will be payable by the Tenant to the Landlord within twenty-eight (28) days of written demand and receipt of a valid invoice evidencing the payment required.
Appears in 1 contract
Samples: Lease
