Common use of Tenant’s Insurance Requirements Clause in Contracts

Tenant’s Insurance Requirements. Upon request from Landlord, Tenant shall provide Landlord with written evidence that all insurance required under Section 9 is in force. Insurance required of Tenant under Section 9 shall be in companies duly licensed to transact business in the state where the Premises are located, and maintaining during the policy term a “General Policyholders Rating” of at least A-V, or such other rating as may be required by a Lender, as set forth in the most current issue of “Best’s Insurance Guide.” Tenant covenants and agrees to obtain all other insurance coverages, and endorsements customarily maintained by companies in the general business and use, or reasonably requested by Landlord from time to time including, without limitation, business interruption insurance. Tenant acknowledges that Landlord is not obligated to maintain any insurance or extended coverage insurance with respect to damage to any plate glass or other glass located in the Premises. Tenant shall be entitled to obtain any such insurance for plate glass or other glass located in the Premises; provided, however, that Tenant shall be obligated to replace any damaged or broken or plate glass or other glass located in the Premises, whether or not Tenant has obtained such insurance coverage. Tenant shall not do or permit to be done anything, which shall invalidate the insurance policies referred to in this Section 9. Tenant shall cause to be delivered to Landlord, within seven (7) days before the earlier of the Delivery Date or the Commencement Date evidence of the existence and amounts of, the insurance required under Section 9.2(a) and 9.4. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice to Landlord. Tenant shall at least thirty (30) days prior to the expiration of such policies, furnish Landlord with evidence of renewals or “insurance binders” evidencing renewal thereof, or Landlord may order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord upon demand.

Tenant’s Insurance Requirements. Upon request from Tenant, at its sole cost and expense, shall, at all times procure during the Lease term, pay for and keep in full force and effect: (i) a commercial general liability policy, including insurance covering assumed or contractual liability under this Lease with respect to the Premises and the operation of Tenant and any subtenants of Tenant in, on or about the Premises, in which the limits with respect to personal liability and property damage shall be usual and. customary for like properties but shall be not less than Two Million Dollars ($2,000,000) per occurrence; (ii) casualty insurance against loss or damage by fire and other risks in the amount of the full replacement cost for all of Tenant’s improvements to the Premises, trade fixtures, equipment and personal property; (iii) worker’s compensation coverage as required by law; and (iv) with respect to alterations, improvements and the like required or permitted to be made by Tenant hereunder, contingent liability and builder’s risk insurance, in amounts reasonably satisfactory to Landlord, Tenant shall provide Landlord with written evidence that all . All policies of insurance required under to be carried by Tenant pursuant to this Section 9 is in force. Insurance required of Tenant under Section 9 16 shall be in written by responsible insurance companies duly licensed authorized to transact do business in the state where the Premises are located, . Each policy evidencing insurance required to be carried by Tenant pursuant to this Section 16 shall contain the following provisions and/or clauses: (i) a provision that such policy and maintaining during the policy term a “General Policyholders Rating” of at least Acoverage evidenced thereby shall be primary and non-V, or such other rating as may be required by a Lender, as set forth in the most current issue of “Best’s Insurance Guide.” Tenant covenants and agrees to obtain all other insurance coverages, and endorsements customarily maintained by companies in the general business and use, or reasonably requested by Landlord from time to time including, without limitation, business interruption insurance. Tenant acknowledges that Landlord is not obligated to maintain any insurance or extended coverage insurance contributing with respect to damage to any plate glass or other glass located in the Premises. Tenant policies carried by Landlord, and that any coverage carried by Landlord shall be entitled excess insurance; (ii) a provision including Landlord and Landlord’s mortgagee as an insured (except with respect to obtain worker’s compensation insurance and insurance covering Tenant’s trade fixtures, personal property and equipment); (iii) with respect to Tenant’s casualty insurance only, a waiver by the insurer of any such insurance for plate glass right of subrogation against Landlord and its respective agents, employees and representatives which arise or other glass located in the Premises; provided, however, that Tenant shall be obligated to replace might arise by reason of any damaged or broken or plate glass or other glass located in the Premises, whether or not Tenant has obtained such insurance coverage. Tenant shall not do or permit to be done anything, which shall invalidate the insurance policies referred to in this Section 9. Tenant shall cause to be delivered to Landlord, within seven (7) days before the earlier of the Delivery Date or the Commencement Date evidence of the existence and amounts of, the insurance required payment under Section 9.2(a) and 9.4. No such policy shall be cancelable or subject by reason of any act or omission of Landlord and its respective agents, employees or representatives; (iv) a severability clause; and (v) a provision that the insurer will not cancel, materially change or fail to modification except after renew the coverage provided by such policy without giving Landlord and Landlord’s mortgagee thirty (30) days days’ prior written notice notice. On or prior to Landlord. the Commencement Date, Tenant shall at least deliver to Landlord certificates of the insurers, evidencing all of the insurance which is required to be maintained by Tenant hereunder and naming Landlord and its mortgagee in their respective capacity as required herein, together with evidence of the payment of all premiums therefor, and Tenant shall, within thirty (30) days prior to the expiration of any such policiesinsurance, furnish Landlord deliver other certificates of the insurers evidencing the renewal or replacement of such insurance together with evidence of renewals the payment of all premiums therefor. In the event that Tenant fails to procure, maintain and/or pay for, at the times and for the durations specified in this Section 16, any insurance required by this Section 16 or “fails to carry insurance binders” evidencing renewal thereofrequired by law or governmental regulation, or Landlord may order (but without obligation to do so) at any time or from time to time, and without notice, procure such insurance (other than worker’s compensation insurance) and charge pay the cost thereof to Tenantpremiums therefor, in which amount event Tenant shall be payable by Tenant repay to Landlord upon demandall sums so paid by Landlord together with interest thereon as provided elsewhere herein and any costs or expenses incurred by Landlord in connection therewith, within ten (10) days following Landlord’s written demand to Tenant for such payment.

Tenant’s Insurance Requirements. Upon request Tenant shall, at its sole expense, maintain in effect from and after the Commencement Date and continuously thereafter until the Ending Date, the policies of insurance required under this Article 6. All policies that Tenant is required to maintain under this Article shall be issued by companies licensed to do business in California with a general policyholder’s rating of not less than “A+” and a financing rating of not less than Class “X”, as rated by the most current available “Bests” Insurance Reports and shall be in a form (without any additions or deletions unless approved in writing by Landlord) and underwritten by companies acceptable to Landlord with an express waiver of subrogation against Landlord and its managing agent. On or before the Commencement Date, Tenant shall provide furnish Landlord with written evidence acceptable to Landlord that all insurance (I) the policies (or a binder thereof) required under Section 9 is pursuant to this Article are in force. Insurance required of Tenant under Section 9 effect and (ii) Landlord shall be notified by the carrier in companies duly licensed to transact business in the state where the Premises are located, and maintaining during the policy term a “General Policyholders Rating” of at least A-V, or such other rating as may be required by a Lender, as set forth in the most current issue of “Best’s Insurance Guide.” Tenant covenants and agrees to obtain all other insurance coverages, and endorsements customarily maintained by companies in the general business and use, or reasonably requested by Landlord from time to time including, without limitation, business interruption insurance. Tenant acknowledges that Landlord is not obligated to maintain any insurance or extended coverage insurance with respect to damage to any plate glass or other glass located in the Premises. Tenant shall be entitled to obtain any such insurance for plate glass or other glass located in the Premises; provided, however, that Tenant shall be obligated to replace any damaged or broken or plate glass or other glass located in the Premises, whether or not Tenant has obtained such insurance coverage. Tenant shall not do or permit to be done anything, which shall invalidate the insurance policies referred to in this Section 9. Tenant shall cause to be delivered to Landlord, within seven (7) days before the earlier of the Delivery Date or the Commencement Date evidence of the existence and amounts of, the insurance required under Section 9.2(a) and 9.4. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice to Landlord. Tenant shall at least writing thirty (30) days prior to the expiration cancellation, material change, or nonrenewal of such insurance. The policies that Tenant is required to obtain pursuant to this Article shall name Landlord and, upon Landlord’s request, and Landlord’s Lender and/or Landlord’s managing agent Company as additional insureds on Form CG 2026 or such other equivalent form as may be approved by Landlord and shall be primary policies, furnish Landlord and shall not be contributing with evidence and shall be in excess of renewals or “insurance binders” evidencing renewal thereof, or coverage which Landlord may order have and shall be unaffected by any self-insurance Landlord may have regardless of whether any other insurance names Landlord as an insured or whether such insurance stands primary or secondary. If Tenant carries any of the insurance coverages required hereunder in the form of a blanket policy, any certificate required hereunder shall make specific reference to the Premises. Upon the reasonable request of Landlord from time to time, Tenant shall increase the limits of the policies that Tenant is required to obtain under this Article and charge shall purchase and keep in force policies of such other types of insurance as required by law. The limits of the cost thereof insurance coverage required by Landlord or the unavailability of certain types of coverage shall not limit or release Tenant from any of its obligations under this Lease and the existence of such insurance in no way changes, limits or restricts Tenant’s obligations to Tenant, which amount shall be payable by Tenant to Landlord upon demandLandlord.

Tenant’s Insurance Requirements. Upon request With respect to the Premises, Tenant shall, at Tenant's sole cost and expense, obtain and keep in force at all times during the term of this Lease, (a) commercial general liability insurance relating to Tenant's business (carried on, in or from the Premises) and Tenant's use and occupancy, for personal and bodily injury and death, and damage to others' property, with limits of not less than $2,000,000 for any one accident or occurrence; and (b) all risk and fire insurance (including standard extended endorsement perils, leakage from fire protective devices and other water damage) relating to Tenant's fixtures, furnishings, equipment, personal property, inventory and stock-in-trade on a full replacement cost basis in amounts sufficient to prevent Tenant from becoming a coinsurer and subject only to such deductibles and exclusions as Landlord may reasonably approve. All such policies and coverage shall include and insure Landlord, its lender(s), and their respective agents, directors, officers and employees as additional insureds, and the limit of said insurance by Tenant shall have a Landlord's protective liability endorsement attached thereto. Insurance required hereunder shall be in companies licensed in the state in which the Premises are located and shall have a rating of A- or better in "Best's Insurance Guide" and a financial rating of Class X or better. Tenant will provide thirty (30) days' advance written notice to the Landlord (or as much notice as is practicable) of any cancellation or reduction in coverage and will promptly obtain replacement coverage so as to remain in compliance with this Section 14. Tenant shall provide Landlord with written evidence that all of insurance required under Section 9 is annually in forcea form acceptable to Landlord in its reasonable discretion. Insurance required of If Tenant under Section 9 shall be in companies duly licensed fails to transact business in the state where the Premises are located, and maintaining during the policy term a “General Policyholders Rating” of at least A-Vinsure or pay premiums, or such other rating to file satisfactory proof as may be required by a Lenderrequired, as set forth in the most current issue of “Best’s Insurance Guide.” Tenant covenants Landlord may, upon 48-hours' notice, acquire and agrees to obtain all other insurance coverages, and endorsements customarily maintained by companies in the general business and use, or reasonably requested by Landlord from time to time including, without limitation, business interruption insurance. Tenant acknowledges that Landlord is not obligated to maintain any insurance or extended coverage insurance with respect to damage to any plate glass or other glass located in the Premises. Tenant shall be entitled to obtain any such insurance for plate glass or other glass located in the Premises; provided, however, that Tenant shall be obligated to replace any damaged or broken or plate glass or other glass located in the Premises, whether or not Tenant has obtained such insurance coverage. Tenant shall not do or permit to be done anything, which shall invalidate the insurance policies referred to in this Section 9. Tenant shall cause to be delivered to Landlord, within seven (7) days before the earlier of the Delivery Date or the Commencement Date evidence of the existence and amounts of, the insurance required under Section 9.2(a) and 9.4. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice to Landlord. Tenant shall at least thirty (30) days prior to the expiration of such policies, furnish Landlord with evidence of renewals or “insurance binders” evidencing renewal thereof, or Landlord may order effect such insurance and charge the cost thereof to Tenant, which amount shall be payable by recover from Tenant to Landlord upon demandon demand any premiums paid.