Common use of Tenant’s insurance covenants Clause in Contracts

Tenant’s insurance covenants. The Tenant covenants with the Landlord: - 6.2.1 to pay to the Landlord without deduction a fair proportion determined by the Landlord of the sums which shall from time to time be paid or payable by the Landlord for: (a) insuring the Premises (b) insuring in such amount and on such terms as the Landlord shall reasonably consider appropriate against all liability of the Landlord to third parties arising out of or in connection with any matter involving or relating to the Premises and so that: (c) the first payment or payments under this clause shall be made on the date of this Lease in respect of the period from and including the date of this Lease to and including the day before the next policy renewal date or dates (any necessary apportionment being made according to the number of days in that period relative to the number of days in the period covered by the relevant policy) and (d) subsequent payments under this clause shall be made within fourteen (14) days of written demand of the annual policy renewal date and (if so demanded) in advance of the relevant policy renewal dates provided that in calculating the amounts payable by the Landlord by way of premium as referred to above no deduction shall be made in respect of any agency or other commission paid or allowed to the Landlord 6.2.2 to comply with all the requirements and reasonable recommendations of the Landlord’s insurers 6.2.3 not to do or omit anything that could cause any policy of insurance on or in relation to the Premises or any part of it to become void or voidable wholly or in part nor anything by which any increased premium may become payable for any such insurance 6.2.4 to keep the Premises supplied with such fire fighting equipment as the insurers or the fire authority may require or as the Landlord may reasonably require and to maintain such equipment to their satisfaction and in efficient working order and at least once in every twelve (12) months to cause any sprinkler system and other fire fighting equipment to be inspected by a competent person 6.2.5 not to store or bring on to the Premises any article substance or liquid of a combustible inflammable or explosive nature and to comply with the requirements and recommendations of the fire authority and the reasonable requirements of the Landlord as to fire precautions relating to the Premises 6.2.6 not to obstruct the access to any fire fighting equipment or the means of escape from the Premises nor to lock any fire door while the Premises are occupied 6.2.7 to give notice to the Landlord promptly upon the Tenant becoming aware of the happening of any event which might affect any insurance policy on or relating to the Premises or upon the happening of any event against which the Landlord may have insured under this Lease. 6.2.8 if and whenever during the Term the Premises or any part of them are damaged or destroyed by any risk against which the Landlord has insured in accordance with this clause and payment of the insurance moneys is refused in whole or in part by reason of any act or default of the Tenant acting in breach of the terms of this Lease then immediately in every such case (at the option of the Landlord) either: (a) to rebuild and reinstate at its own expense the Premises or the part destroyed or damaged to the reasonable satisfaction and under the supervision of the Landlord’s Surveyor the Tenant being allowed towards the expenses of so doing upon such rebuilding and reinstatement being completed the amount (if any) actually received in respect of such destruction or damage under the Landlord’s policy of insurance or (b) to pay to the Landlord on demand the amount of the insurance moneys in respect of which payment is refused

Tenant’s insurance covenants. The Tenant covenants with the Landlord: - 6.2.1 to pay to the Landlord without deduction a fair proportion determined by the Landlord of the sums which shall from time to time be paid or payable by the Landlord for: (a) insuring to pay the Premises (b) insuring in such amount and on such terms as the Landlord shall reasonably consider appropriate against all liability Insurance Rent within five Business Days of the Landlord to third parties arising out receipt of or in connection with any matter involving or relating to the Premises and so that: (c) the first payment or payments under this clause shall be made on the date of this Lease in respect of a written demand for the period from and including the date of this Lease up to and including the day before the next policy renewal date or dates and subsequently to pay the Insurance Rent within five Business Days of receipt of a written demand (b) in the event of any necessary apportionment being made according claim under a policy of insurance relating to the number Premises to reimburse the Landlord on demand for any excess which applies (c) to comply with all proper requirements and recommendations of days in that period relative to the number insurers of days in the period covered by the relevant policy) andPremises (d) subsequent payments under this clause shall be made within fourteen (14) days of written demand of the annual policy renewal date and (if so demanded) in advance of the relevant policy renewal dates provided that in calculating the amounts payable by the Landlord by way of premium as referred to above no deduction shall be made in respect of any agency or other commission paid or allowed to the Landlord 6.2.2 to comply with all the requirements and reasonable recommendations of the Landlord’s insurers 6.2.3 not knowingly to do or omit permit anything that could cause any policy of insurance on or in relation to the Premises or any part of it to become void or voidable wholly or in part nor (unless the Tenant shall have previously notified the Landlord and agreed to pay the increased premium) anything by which any increased premium additional insurance premiums may become payable for any such insurancepayable 6.2.4 (e) to keep the Premises supplied with such fire fighting equipment as the insurers or the fire authority insurer may require or as the Landlord may reasonably require and to maintain such equipment to their the satisfaction of the insurer and in efficient working order and at least once in every twelve order (12f) months to cause any sprinkler system and other fire fighting equipment to be inspected by a competent person 6.2.5 not to store or bring on to the Premises any article substance or liquid of a combustible inflammable or explosive nature and to comply with the proper requirements and recommendations of the fire authority and the reasonable requirements of the Landlord insurer as to fire precautions relating to the Premises 6.2.6 (g) not to obstruct the access to any fire fighting equipment or the means of escape from the Premises nor to lock any fire door while the Premises are occupied 6.2.7 (h) to give notice to the Landlord promptly as soon as practicable upon the Tenant becoming aware of the happening of any event which might affect any insurance policy on or relating to the Premises or upon the happening of any event against which the Landlord may have insured under this Lease. 6.2.8 (i) not to effect any policy of insurance in relation to the Premises without the prior written consent of the Landlord provided always that the Tenant may insure tenants and trade fixtures and fittings (j) if at any time the Tenant shall be entitled to the benefit of any insurance on the Premises (which is not effected or maintained in pursuance of any obligation contained in this Lease) to apply all money received by virtue of such insurance in making good the loss or damage in respect of which such money shall have been received (k) if and whenever during the Term the Premises or any part of them are damaged or destroyed by any risk against which the Landlord has insured in accordance with this clause and payment of the Insured Risks and the insurance moneys money under the policy of insurance effected by the Superior Landlord pursuant to its obligations contained in the Superior Lease is refused in whole or in part by reason of any act or default of the Tenant acting in breach of or anyone for whom the terms of this Lease then Tenant is legally responsible wholly or partially irrecoverable immediately in every such case (at the option of the Landlord) either: (a) to rebuild and reinstate at its own expense the Premises or the part destroyed or damaged to the reasonable satisfaction and under the supervision of the Landlord’s Surveyor the Tenant being allowed towards the expenses of so doing upon such rebuilding and reinstatement being completed the amount (if any) actually received in respect of such destruction or damage under the Landlord’s policy of insurance or (b) to pay to the Landlord on demand the amount of such insurance money so irrecoverable with Interest on such amount from the insurance moneys in respect date of which payment is refuseddemand

Tenant’s insurance covenants. The Tenant covenants agrees with the Landlord: - 6.2.1 to pay to the Landlord without deduction a fair proportion determined by the Landlord of the sums which shall from time to time be paid or payable by the Landlord for: (a) insuring the Premises (b) insuring in such amount and on such terms as the Landlord shall reasonably consider appropriate against all liability of the Landlord to third parties arising out of or in connection with any matter involving or relating to the Premises and so that: (c) the first payment or payments under this clause shall be made on the date of this Lease in respect of the period from and including the date of this Lease to and including the day before the next policy renewal date or dates (any necessary apportionment being made according to the number of days in that period relative to the number of days in the period covered by the relevant policy) and (d) subsequent payments under this clause shall be made within fourteen (14) days of written demand of the annual policy renewal date and (if so demanded) in advance of the relevant policy renewal dates provided that in calculating the amounts payable by the Landlord by way of premium as referred to above no deduction shall be made in respect of any agency or other commission paid or allowed to the Landlord 6.2.2 6.1 to comply with all the reasonable requirements and reasonable recommendations of the Landlord’s insurers 6.2.3 6.2 not knowingly to do or omit anything that could cause any policy of insurance on or in relation to the Premises or any part of it to become void or voidable wholly or in part nor (unless the Tenant shall have previously notified the Landlord and have agreed to pay the increased premium) anything by which any increased premium additional insurance premiums may become payable for any such insurancepayable 6.2.4 to keep the Premises supplied with such fire fighting equipment as the insurers or the fire authority may require or as the Landlord may reasonably require and to maintain such equipment to their satisfaction and in efficient working order and at least once in every twelve (12) months to cause any sprinkler system and other fire fighting equipment to be inspected by a competent person 6.2.5 6.3 not to store or bring on to onto the Premises any article substance or liquid of a specifically combustible inflammable or explosive nature and to comply with the reasonable requirements and recommendations of the fire authority and the reasonable requirements of the Landlord as to fire precautions relating to the Premises 6.2.6 6.4 not to obstruct the access to any fire fighting equipment or the means of escape from the Premises nor to lock any fire door while the Premises are occupied 6.2.7 6.5 to give notice to the Landlord promptly as soon as reasonably practicable upon the Tenant becoming aware of the happening of any event which might affect any insurance policy on or relating to the Premises or upon the happening of any event against which the Landlord may have insured under this Lease.Lease of which the Tenant its agents and employees have notice 6.2.8 6.6 if and whenever during the Term the Premises or any part of them are damaged or destroyed by any risk against which an Insured Risk and the insurance money under the policy of insurance effected by the Landlord has insured pursuant to its obligations contained in accordance with this clause and payment of the insurance moneys Lease is refused in whole or in part by reason of any act or default of the Tenant acting in breach of the terms of this Lease then its agents or employees wholly or partially irrecoverable immediately in every such case (at the option of the Landlord) either: (a) to rebuild and reinstate at its own expense the Premises or the part destroyed or damaged to the reasonable satisfaction and under the supervision of the Landlord’s Surveyor the Tenant being allowed towards the expenses of so doing upon such rebuilding and reinstatement being completed the amount (if any) actually received in respect of such destruction or damage under the Landlord’s policy of insurance or (b) to pay to the Landlord on demand the amount of such insurance money so irrecoverable in which event the insurance moneys in respect provisions of which payment is refusedparagraphs 5 and 6 of this Schedule shall apply

Tenant’s insurance covenants. The Tenant covenants with the Landlord: - 6.2.1 to pay to the Landlord without deduction a fair proportion determined by the Landlord of the sums which shall from time to time be paid or payable by the Landlord for: (a) insuring the Premises (b) insuring in such amount and on such terms as the Landlord shall reasonably consider appropriate against all liability of the Landlord to third parties arising out of or in connection with any matter involving or relating to the Premises and so that: (c) the first payment or payments under this clause shall be made on the date of this Lease in respect of the period from and including the date of this Lease to and including the day before the next policy renewal date or dates (any necessary apportionment being made according to the number of days in that period relative to the number of days in the period covered by the relevant policy) and (d) subsequent payments under this clause shall be made within fourteen (14) days of written demand of the annual policy renewal date and (if so demanded) in advance of the relevant policy renewal dates provided that in calculating the amounts payable by the Landlord by way of premium as referred to above no deduction shall be made in respect of any agency or other commission paid or allowed to the Landlord 6.2.2 6.6.1 to comply with all the requirements and reasonable recommendations recommendation of the Landlord’s insurers; 6.2.3 6.6.2 not to do or omit anything that could cause any policy of insurance on or in relation to the Premises or any part of it Property to become void or voidable wholly or in part nor (unless the Tenant shall have previously notified the Landlord and have agreed to pay the increased premium and such insurance shall have been effected) anything by which any increased premium additional insurance premiums may become payable for any such insurancein respect of the Property; 6.2.4 6.6.3 to keep the Premises Property supplied with such fire fighting equipment as the insurers or and the fire authority may require or as the Landlord may reasonably require and to maintain such the equipment to their satisfaction and in efficient working order and at least once in every twelve (12) 6 months to cause any sprinkler system and other fire fighting equipment to be inspected by a competent person; 6.2.5 6.6.4 not to store or bring on to onto the Premises Property any article article, substance or liquid of a combustible specially combustible, inflammable or explosive nature and but to comply with the requirements and reasonable recommendations of the fire authority and the reasonable requirements of the Landlord as to fire precautions relating to the PremisesProperty; 6.2.6 6.6.5 not to obstruct the access to any fire fighting equipment or the means of escape from the Premises Property nor to lock any fire door while the Premises are Property is occupied; 6.2.7 6.6.6 to give notice to the Landlord promptly immediately upon the Tenant becoming aware of the happening of any event which might affect any insurance policy on or relating to the Premises Property or upon the happening of any event against which the Landlord may have insured insured; 6.6.7 if at any time the Tenant is entitled to the benefit of any insurance in respect of the Property (which is not effected or maintained under any obligation contained in this Lease.) to apply all insurance money in making good the loss or damage in respect of which the money has been received; 6.2.8 6.6.8 if and whenever during the Term the Premises Property (or any part of them are it) is damaged or destroyed by any risk against which an Insured Risk, and the insurance money under the policy of insurance effected by the Landlord has insured in accordance with this clause and payment of the insurance moneys is refused in whole or in part by reason of any act or default of the Tenant acting in breach of (or anyone at the terms of this Lease then Property expressly or by implication with the Tenant’s authority) wholly or partially irrecoverable, immediately in every such case (at the option of the LandlordTenant) either: (a) to rebuild and reinstate at its the Tenant’s own expense the Premises Property (or the part of it destroyed or damaged damaged) to the reasonable satisfaction and under the supervision of the Landlord’s Surveyor the Tenant being allowed towards the expenses of so doing (upon such rebuilding and reinstatement being completed completed) the amount (if any) actually received in respect of such the destruction or damage under the Landlord’s policy of any insurance policy; or (b) to pay to the Landlord on within 14 days of demand with interest at 3% below the Interest Rate (calculated from the date of the damage or destruction) the amount of the insurance moneys in respect money so irrecoverable on payment of which payment the provisions of clauses 6.4 and 6.5 shall apply. 6.6.9 If any claim is refusedmade by the Landlord under any insurance policy relating to the Property the Tenant will pay to the Landlord within 14 days of demand the amount of any proper insurance excess properly deducted from the claim.

Tenant’s insurance covenants. The Tenant covenants with the Landlord: - 6.2.1 to pay to the Landlord without deduction a fair proportion determined by the Landlord of the sums which shall from time to time be paid or payable by the Landlord for: (a) insuring the Premises (b) insuring in such amount and on such terms as the Landlord shall reasonably consider appropriate against all liability of the Landlord to third parties arising out of or in connection with any matter involving or relating to the Premises and so that: (c) the first payment or payments under this clause shall be made on the date of this Lease in respect of the period from and including the date of this Lease to and including the day before the next policy renewal date or dates (any necessary apportionment being made according to the number of days in that period relative to the number of days in the period covered by the relevant policy) and (d) subsequent payments under this clause shall be made within fourteen (14) days of written demand of the annual policy renewal date and (if so demanded) in advance of the relevant policy renewal dates provided that in calculating the amounts payable by the Landlord by way of premium as referred to above no deduction shall be made in respect of any agency or other commission paid or allowed to the Landlord 6.2.2 to 7.7.1 To comply with all the requirements and reasonable recommendations of the Landlord’s insurers 6.2.3 not 7.7.2 Not to do or omit anything that could cause any policy of insurance on or in relation to the Premises or any part of it to become void or voidable wholly or in part nor (unless the Tenant shall have previously notified the Landlord and have agreed to pay the increased premium) anything by which any additional or increased premium insurance premiums may become payable for any such insurancepayable 6.2.4 to 7.7.3 To keep the Premises supplied with such fire fighting equipment as the insurers or and the fire authority may require or as the Landlord may reasonably require and to maintain such equipment to their satisfaction and in efficient working order and that at least once in every twelve (12) six months to cause any sprinkler system and other fire fighting equipment to be inspected by a competent person 6.2.5 not 7.7.4 Not to store or bring on to the Premises any article articles substance or liquid of a specially combustible inflammable or explosive nature and to comply with the requirements and recommendations of the fire authority and the reasonable requirements of the Landlord as to fire precautions relating to the Premises 6.2.6 not 7.7.5 Not to obstruct the access to any fire fighting equipment or the means of escape from the Premises nor to lock any fire door while the Premises are occupied 6.2.7 to 7.7.6 To give notice to the Landlord promptly immediately upon the Tenant becoming aware of the happening of any event which might affect any insurance policy on or relating to the Premises or upon the happening of any event against which the Landlord may have insured under this Lease. 6.2.8 if and whenever 7.7.7 Immediately to inform the Landlord in writing of any conviction judgement or finding of any court or tribunal relating to the Tenant (or any director or other officer or major shareholder of the Tenant) of such a nature as to be likely to affect the decision of any insurer or underwriter to grant or to continue any such insurance 7.7.8 If at any time the Tenant shall be entitled to the benefit of any insurance on the Premises (which is not effected or maintained in pursuance of any obligation contained in this Lease) to apply all money received by virtue of such insurance in making good the loss or damage in respect of which such money shall have been received 7.7.9 If however during the Term the Premises or any part of them are damaged or destroyed by any risk against which an Insured Risk and the insurance money under the policy of insurance effected by the Landlord has insured pursuant to its obligation contained in accordance with this clause and payment of the insurance moneys Lease is refused in whole or in part by reason of any act or default of the Tenant acting in breach of or anyone at the terms of this Lease then Premises expressly or by implication with the Tenant's authority and under the Tenant's control wholly or partially irrecoverable immediately in every such case (at the option of the Landlord) either: (a) 7.7.9.1 to rebuild and reinstate at its own expense the Premises or the part destroyed or damaged to the reasonable satisfaction and under the supervision of the Landlord’s Surveyor the Tenant being allowed towards the expenses of so doing upon such rebuilding and reinstatement being completed the amount (if any) actually received in respect of such destruction or damage under the Landlord’s any such insurance policy of insurance or (b) 7.7.9.2 to pay to the Landlord on demand with Interest the amount of such insurance money so irrecoverable in which event the insurance moneys in respect provisions of which payment is refusedclause 7.5 and 7.6 shall apply

Tenant’s insurance covenants. The Tenant covenants with the Landlord: - 6.2.1 to pay to the Landlord without deduction a fair proportion determined by the Landlord of the sums which shall from time to time be paid or payable by the Landlord for: (a) insuring the Premises (b) insuring in such amount and on such terms as the Landlord shall reasonably consider appropriate against all liability of the Landlord to third parties arising out of or in connection with any matter involving or relating to the Premises and so that: (c) the first payment or payments under this clause shall be made on the date of this Lease in respect of the period from and including the date of this Lease to and including the day before the next policy renewal date or dates (any necessary apportionment being made according to the number of days in that period relative to the number of days in the period covered by the relevant policy) and (d) subsequent payments under this clause shall be made within fourteen (14) days of written demand of the annual policy renewal date and (if so demanded) in advance of the relevant policy renewal dates provided that in calculating the amounts payable by the Landlord by way of premium as referred to above no deduction shall be made in respect of any agency or other commission paid or allowed to the Landlord 6.2.2 6.8.1 to comply with all the requirements and reasonable recommendations recommendation of the Landlordlandlord’s insurers; 6.2.3 6.8.2 not to do or omit anything that could cause any policy of insurance on or in . relation to the Premises or any part of it Property to become void or voidable wholly or in part nor (unless the Tenant shall have previously notified the landlord and have agreed to pay the increased premium and such insurance shall have been effected) anything by which any increased premium additional insurance premiums may become payable for any such insurancein respect of the Property; 6.2.4 6.8.3 to keep the Premises Property supplied with such fire fighting equipment as the insurers or and the fire authority may require or as the Landlord landlord may reasonably require and to maintain such the equipment to their satisfaction and in efficient working order and at least once in every twelve (12) 6 months to cause any sprinkler system and other fire fighting equipment to be inspected by a competent person; 6.2.5 6.8.4 not to store or bring on to onto the Premises Property any article article, substance or liquid of a combustible specially combustible, inflammable or explosive nature and but to comply with the requirements and recommendations of the fire authority and the reasonable requirements of the Landlord landlord as to fire precautions relating to the PremisesProperty; 6.2.6 6.8.5 not to obstruct the access to any fire fighting equipment or the means of escape from the Premises Property nor to lock any fire door while the Premises are Property is occupied; 6.2.7 6.8.6 to give notice to the Landlord promptly immediately upon the Tenant becoming aware of the happening of any event which might affect any insurance policy on or relating to the Premises Property or upon the happening of any event against which the Landlord may have insured insured; 6.8.7 immediately to inform the Landlord in writing of any conviction judgment or finding of any court or tribunal relating to the Tenant (or any director other officer or major shareholder of the Tenant) of such a nature as to be likely to affect the decision of any insurer or underwriter to grant or to continue any such insurance; 6.8.8 if at any time the Tenant is entitled to the benefit of any insurance in respect of the Property (which is not effected or maintained under any obligation contained in this Lease.) to apply all insurance money in making good the loss or damage in respect of which the money has been received; 6.2.8 6.8.9 if and whenever during the Term the Premises Property (or any part of them are it) is damaged or destroyed by any risk against which the Landlord has an insured in accordance with this clause Risk, and payment of the insurance moneys money under the policy of insurance effected by the landlord is refused in whole or in part by reason of any act or default of the Tenant acting in breach of (or anyone at the terms of this Lease then Property expressly or by implication with the Tenant’s authority) wholly or partially irrecoverable, immediately in every such case (at a’ the option of the LandlordTenant) either: (a) 6.8.9.1 to rebuild and reinstate at its the Tenant’s own expense the Premises Property (or the part of it destroyed or damaged damaged) to the reasonable satisfaction and under the supervision of the Landlord’s Surveyor the Tenant being allowed towards the expenses of so doing (upon such rebuilding and reinstatement being completed completed) the amount (if any) actually received in respect of such the destruction or damage under the Landlord’s policy of any insurance policy; or (b) 6.8.9.2 to pay to the landlord on demand with Interest (calculated from the date of the damage or destruction) the amount of the insurance money so irrecoverable on payment of which the provisions of clauses 6.5 and 6.6 shall apply. 6.8.10 If any claim is made by the Landlord under any insurance policy relating to the Property the Tenant will pay to the landlord on demand the amount of any insurance excess deducted from the insurance moneys in respect of which payment is refusedclaim.

Tenant’s insurance covenants. The Tenant covenants with the Landlord: - 6.2.1 to pay to the Landlord without deduction a fair proportion determined by the Landlord of the sums which shall from time to time be paid or payable by the Landlord for: (a) insuring to pay the Premises (b) insuring in such amount and Insurance Rent on such terms as the Landlord shall reasonably consider appropriate against all liability of the Landlord to third parties arising out of or in connection with any matter involving or relating to the Premises and so that: (c) the first payment or payments under this clause shall be made on the date of this Lease in respect of demand for the period from and including the date of this Lease up to and including the day before the next policy renewal date or dates (any necessary apportionment being made according and subsequently to pay the number of days in that period relative to the number of days in the period covered by the relevant policy) and (d) subsequent payments under this clause shall be made within fourteen (14) days of written Insurance Rent on demand of the annual policy renewal date and (if so demanded) in advance of the relevant policy renewal dates provided that date (b) in calculating the amounts payable by event of any claim under a policy of insurance relating to the Building to reimburse the Landlord by way of premium as referred to above no deduction shall be made in respect on demand for a reasonable proportion of any agency or other commission paid or allowed to the Landlordexcess which applies 6.2.2 (c) to comply with all the requirements and reasonable recommendations of the Landlord’s insurersinsurers of the Building 6.2.3 (d) not to do or omit permit anything that could cause any policy of insurance on or in relation to the Premises or any part of it Building to become void or voidable wholly or in part nor (unless the Tenant shall have previously notified the Landlord and agreed to pay the increased premium) anything by which any increased premium additional insurance premiums may become payable for any such insurancepayable 6.2.4 (e) to keep the Premises supplied with such fire fighting equipment as the insurers or the fire authority insurer may require or as the Landlord may reasonably require and to maintain such equipment to their satisfaction and in efficient working order and at least once in every twelve order (12f) months to cause any sprinkler system and other fire fighting equipment to be inspected by a competent person 6.2.5 not to store or bring on to the Premises any article substance or liquid of a combustible inflammable or explosive nature and to comply with the requirements and recommendations of the fire authority and the reasonable requirements of the Landlord insurer as to fire precautions relating to the Premises 6.2.6 (g) not to obstruct the access to any fire fighting equipment or the means of escape from the Premises nor to lock any fire door while the Premises are occupied 6.2.7 (h) to give notice to the Landlord promptly immediately upon the Tenant becoming aware of the happening of any event which might affect any insurance policy on or relating to the Premises or upon the happening of any event against which the Landlord may have insured under this Lease. 6.2.8 (i) not to effect any policy of insurance in relation to the Building without the prior written consent of the Landlord (j) if at any time the Tenant shall be entitled to the benefit of any insurance on the Premises (which is not effected or maintained in pursuance of any obligation contained in this Lease) to apply all money received by virtue of such insurance in making good the loss or damage in respect of which such money shall have been received (k) if and whenever during the Term the Premises or any part (the “relevant part”) of them the Building giving access to the Premises are damaged or destroyed by any risk against which of the Insured Risks and the insurance money under the policy of insurance effected by the Landlord has insured pursuant to its obligations contained in accordance with this clause and payment of the insurance moneys Lease is refused in whole or in part by reason of any act or default of the Tenant acting in breach of the terms of this Lease then immediately in every such case (or anyone at the option of Premises expressly or by implication with the Landlord) either: (a) to rebuild and reinstate at its own expense the Premises Tenant’s authority wholly or the part destroyed or damaged to the reasonable satisfaction and under the supervision of the Landlord’s Surveyor the Tenant being allowed towards the expenses of so doing upon such rebuilding and reinstatement being completed the amount (if any) actually received in respect of such destruction or damage under the Landlord’s policy of insurance or (b) partially irrecoverable to pay to the Landlord on demand the amount of such insurance money so irrecoverable with Interest on such amount (from the date of demand or (if earlier) the date on which the Landlord first suffered financial loss because of the insurance moneys money being irrecoverable in respect whole or in part as aforesaid) (l) that whenever any fire or other insurance is effected through or by the Landlord all sums allowed by way of which payment is refusedcommission discount or otherwise shall be deducted from the items listed at clause 1.25(a)(i)-(iv) and clause 1.25(b)