Common use of Tenant’s insurance covenants Clause in Contracts

Tenant’s insurance covenants. The Tenant covenants with the Landlord from and including the Insurance Commencement Date and then throughout the Term or until released pursuant to the 1995 Act as follows: 6.2.1 To pay to the Landlord on demand sums equal to: (i) a fair proportion (reasonably determined by the Landlord’s Surveyors) of the amount which the Landlord spends on insurance pursuant to Clause 6.1.1; (ii) the whole of the amount which the Landlord spends on insurance pursuant to Clause 6.1.2; (iii) the cost of property owners’ liability and third party liability insurance in connection with the Property; (iv) the cost of any professional valuation of the Property properly required by the Landlord (but not more than once in any two year period); 6.2.2 To give the Landlord immediate written notice on becoming aware of any event or circumstance which might affect or lead to an insurance claim;