Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 7 contracts
Samples: Standard Office Lease (Vital Therapies Inc), Standard Office Lease (Vital Therapies Inc), Standard Office Lease (Limelight Networks, Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord.
Appears in 6 contracts
Samples: Standard Office Lease (Phunware, Inc.), Standard Office Lease (Neurmedix, Inc.), Standard Office Lease (Neurmedix, Inc.)
Tenant’s Insurance. Tenant, shall at At all times during the Term of this LeaseTerm, Tenant shall carry and maintain, at Tenant's expense, whether or not such insurance is readily available at a commercially reasonable price, the following insurance, in the amounts specified below or such other amounts as Landlord may from time to time reasonably request, and at its own cost on forms reasonably satisfactory to Landlord:
(a) Bodily injury and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basisproperty damage liability insurance, with a combined single occurrence limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate. All such insurance shall be equivalent to coverage offered by a commercial general liability form, including products without limitation personal injury and contractual liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and for the performance of by Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; 21 of this Lease;
(iib) a policy Insurance covering all of standard fireTenant's furniture and fixtures, extended coverage machinery, equipment, stock, and special extended coverage insurance (all risks)any other personal property owned and used in Tenant's business and found in, including a vandalism on, or about the Project, and malicious mischief endorsementany leasehold improvements to the Premises in excess of the finish allowance, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are if any, provided pursuant to the Workletter in an amount equal to not less than the full replacement value new without deduction cost. Property forms shall provide coverage on a broad form basis insuring against "all risks of direct physical loss." All policy proceeds shall be used for depreciation the repair or replacement of all the property damaged or destroyed; however, if this Lease terminates under the provisions of Article 18, Tenant shall be entitled to any proceeds resulting from damage to Tenant's furniture and fixtures, machinery, equipment, stock, and any other personal property;
(Ac) Tenant ImprovementsWorker's compensation insurance insuring against and satisfying Tenant's obligations and liabilities under the worker's compensation laws of the State of California, Alterations, fixtures and other improvements including employer's liability insurance in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as limits required by lawapplicable laws; and and
(ivd) business interruptionIf Tenant operates owned, loss hired, or nonowned vehicles on the Project, comprehensive automobile liability at a limit of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of liability not less than twelve (12) months$500,000 combined bodily injury and property damage. Tenant Anything to the contrary herein notwithstanding, Landlord shall carry and maintain during not increase the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts required limits of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required subsection (b) or (d) by Landlordmore than ten percent (10%) per calendar year cumulatively.
Appears in 4 contracts
Samples: Lease Agreement (World Wide Magic Net Inc), Lease Agreement (World Wide Magic Net Inc), Lease Agreement (World Wide Magic Net Inc)
Tenant’s Insurance. Tenant, Tenant shall carry (at all times its sole expense during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: Term):
(i) Commercial General Liability Insuranceall-risk property insurance, written on an occurrence basisinsuring Tenant’s interest in its improvements to the Premises and any and all furniture, with fixtures, equipment, supplies, inventory, contents and other property owned, leased, held or possessed by Tenant and contained therein, such insurance coverage to xxxxxxx.xxxxxxxx interruption insurance for one hundred percent (100%) of Tenant’s gross revenues for a combined single limit for bodily injury and property damages period of not less than Two Million Dollars twelve ($2,000,00012) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage months. Such insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided shall be in an amount equal to the full replacement value new cost of such improvements and property, as such may increase from time to time, without deduction for depreciation depreciation, providing protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended peril (all risk), boiler and machinery, flood, glass breakage and sprinkler leakage, and naming Landlord as loss payee as its interest may appear;
(Aii) Tenant Improvements, Alterations, fixtures worker’s compensation insurance required by applicable law;
(iii) comprehensive or commercial general liability insurance on an occurrence basis for injury to or death of a person or persons and other improvements in for damage to property occasioned by or arising out of any construction work being done on the Premises, including but not limited to all mechanicalor arising out of the condition, plumbinguse, heatingor occupancy of the Premises, ventilating, air conditioning, electrical, telecommunication and or other equipment, systems and facilitiesportions of the Building or Property, and covering Tenant’s indemnification obligations imposed by Paragraph 15 of this Lease, the limits of such policy or policies to be in amounts not less than One Million and No/100 Dollars (B$1,000,000) trade fixtures, furniture, equipment in primary liability coverage and other personal property installed by or at the expense of TenantFive TWO Million and No/100 Dollars ($5,000,000 2,000,000) in excess liability coverage; (iii) Worker’s Compensation coverage as required by law; and and
(iv) business interruption, loss of income and extra expense primary automobile liability-insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption with limits of not less than twelve One Million and No/100 Dollars (12$1,000,000) monthsper occurrence, covering owned and non-owned vehicles used by Tenant. Tenant shall carry and maintain during Landlord retains the entire Term (including any option periodsright, if applicable)in its sole discretion, at Tenant’s sole cost and expense, increased amounts to increase the amount of the insurance required to be carried by Tenant pursuant not more frequently than annually based on such factors as inflation, Tenant’s insurance claims history, the advice of Landlord’s insurance advisors and any other relevant factors. Landlord and Tenant shall each have included in all policies of insurance respectively obtained by them with respect to this Article 14 the Building or Premises a waiver by the insurer of all right of subrogation against the other (and, with respect to Tenant’s insurance, against Landlord’s property manager) in connection with any loss or damage insured against. To the full extent permitted by law, Landlord and Tenant each waives all right of recovery against the other (and, with respect to Tenant, against Landlord’s property manager), and agrees to release the other from liability for loss or damage to the extent such loss or damage is covered by valid and collectible insurance in effect at the time of such loss or damage; provided, however, that the foregoing release by each party is conditioned upon the other party’s carrying insurance with the above described waiver of subrogation, and if such coverage is not obtained or maintained by either party, then the other party’s foregoing release shall be deemed to be rescinded until such waiver is either obtained or reinstated. All said insurance policies shall be carried with companies licensed to do business in the state in which the Premises are located reasonably satisfactory to Landlord and shall be noncancellable except after thirty (30) days written notice to Landlord. Each policy shall name Landlord and Landlord’s property management company as additional insureds and provide that it is primary to, and not contributing with, any policy carried by Landlord, Landlord’s property manager, or other designated person covering the same loss. Tenant shall deliver duly executed certificates of such insurance to Landlord prior to the Commencement Date and at least thirty (30) days prior to the expiration of each respective policy term. No insurance policy or policies required to be carried by Tenant will be subject to more than a $10,000.00 deductible limit without Landlord’s prior written consent. Landlord reserves the right to require Tenant to carry such other reasonable types of insurance coverage (including, without limitation and as applicable, plate glass insurance, automobile liability insurance, builder’s risk insurance and liquor liability insurance) and endorsements in such reasonable amounts covering as Landlord in its sole discretion may deem necessary or appropriate. If Tenant fails to take out or keep in force any insurance required to be carried by Tenant, or to provide evidence of the Premises same, Landlord shall have the right, but shall not be obligated, to obtain such insurance at the sole cost and expense of Tenant’s operations therein, as may and Tenant shall reimburse Landlord for the cost thereof upon demand. If, due to the failure of Tenant to comply with the foregoing provisions, Landlord is adjudged a co-insurer by its insurance carrier, then any loss or damage Landlord shall sustain by reason thereof shall be reasonably required borne by LandlordTenant and shall be immediately paid by Tenant upon receipt of a xxxx therefore from Landlord and evidence of such loss. Landlord makes no representation that the minimum limits of liability specified to be carried by Tenant hereunder are adequate to protect Tenant.
Appears in 3 contracts
Samples: Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.)
Tenant’s Insurance. Tenant shall, at Tenant’s expense, shall at all times maintain during the Term term of this LeaseLease (and, and at its own cost and expenseif Tenant occupies or conducts activities in or about the Premises prior to or after the term hereof, procure and continue in force the following insurance coverage: then also during such pre-term or post-term period): (i) Commercial General Liability Insurance, written on an occurrence basiscommercial general liability insurance including contractual liability coverage, with a minimum coverages of Two Million Dollars ($2,000,000.00) per occurrence combined single limit for bodily injury and property damages of not less than damage, Two Million Dollars ($2,000,0002,000,000.00) per occurrence for products-completed operations coverage, One Hundred Thousand Dollars ($100,000.00) fire legal liability, Two Million Dollars ($2,000,000.00) for personal and advertising injury, with a Three Million Dollars ($3,000,0003,000,000.00) general aggregate limit, for injuries to, or illness or death of, persons and damage to property occurring in or about the Premises or otherwise resulting from Tenant’s operations in the annual aggregateBuilding, including products liability provided that the foregoing coverage if applicableamounts may be provided through any combination of primary and umbrella/excess coverage policies, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy property insurance protecting Tenant against loss or damage by fire and such other risks as are insurable under then-available standard forms of standard fire, extended coverage “special form” (previously known as “all risk”) insurance policies (excluding earthquake and special extended coverage insurance (all risks), flood but including a vandalism and malicious mischief endorsement, sprinkler leakage coverage water damage and earthquake sprinkler leakage where sprinklers are provided leakage), covering Tenant’s personal property and trade fixtures in an amount equal or about the Premises or the Real Property, and any above Building standard Alterations installed in the Premises by or at the request of Tenant (including those installed by Landlord at Tenant’s request, whether prior or subsequent to the commencement of the Lease term), for the full replacement value new thereof without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenantdepreciation; (iii) Worker’s Compensation workers’ compensation insurance in statutory limits; (iv) at least three months’ coverage as required by lawfor loss of business income and continuing expenses, providing protection against any peril included within the classification “special form” insurance, excluding earthquake and flood but including water damage and earthquake sprinkler leakage; and (ivv) business interruptionif Tenant operates owned, loss leased or non-owned vehicles on the Real Property, comprehensive automobile liability insurance with a minimum coverage of income Two Million Dollars ($2,000,000.00) per occurrence, combined single limit; provided that the foregoing coverage amount may be provided through any combination of primary and extra expense umbrella/excess coverage policies. In no event shall any insurance covering any failure maintained by Tenant hereunder or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried maintained by Tenant pursuant hereunder be deemed to limit or satisfy Tenant’s indemnification or other obligations or liability under this Article 14 Lease. Landlord reserves the right to increase the foregoing amount of liability coverage from time to time as Landlord reasonably determines is required to adequately protect Landlord and the other parties designated by Landlord from the matters insured thereby (provided, however, that Landlord makes no representation that the limits of liability required hereunder from time to time shall be adequate to protect Tenant), and to require that Tenant cause any of its contractors, vendors, movers or other parties conducting activities in or about or occupying the Premises to obtain and maintain insurance as reasonably determined by Landlord and as to which Landlord and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may parties designated by Landlord shall be reasonably required by Landlordadditional insureds.
Appears in 3 contracts
Samples: Office Lease (Marin Software Inc), Office Lease (Marin Software Inc), Office Lease (Marin Software Inc)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,0002,000,000.00) per occurrence and Three Million Dollars ($3,000,0003,000,000.00) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 2 contracts
Samples: Standard Office Lease, Standard Office Lease (Nexsan Corp)
Tenant’s Insurance. Tenant(a) The Tenant covenants and agrees that it shall, shall at all times during the Operating Term of this Leaseand any renewal thereof, and at its own the Tenant’s cost and expense, procure in the name of the Tenant and continue in respect of the Retail Component including the Retail Component Building, take out and keep in full force and effect the following insurance coverage: policies:
(i) Commercial General Liability Insuranceall risks (including sewer back up, written on an occurrence basis, with a combined single limit for bodily injury flood and earthquake) property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to one hundred percent (100%) of the full replacement value new without deduction for depreciation of all cost, with the same site limitation deleted. Such insurance shall be written on a stated amount co-insurance basis and shall include:
(A) Tenant Improvements, Alterations, fixtures and other improvements in the PremisesRetail Component, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and the foundation;
(B) trade fixturesall property owned by the Tenant or for which the Tenant is legally liable located on the Retail Component, including leasehold improvements, chattels, furniture, equipment all internal and other personal external plate glass, stock, office equipment, equipment, fixtures, contents and signs, but excluding all property installed by or at the expense of Tenant; any Subtenant;
(iiiC) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering in such amounts as will reimburse the Tenant for extra expense incurred arising out of prevention of access to the Retail Component or any failure part of it;
(D) coverage for contingent liability from the enforcement of building by-laws, including the demolition and replacement of undamaged portions of the buildings or structures, cost of demolition and clearing of site and increased costs of construction, which coverage shall be in excess of and not included in the limit of liability applicable to building debris removal; and
(E) debris removal;
(ii) business interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions insurance in an amount sufficient to cover any and all obligations to the Landlord respecting Rent for a period of interruption of not less than twelve twenty-four (1224) months;
(iii) professional fees insurance in the amount of not less than $100,000;
(iv) comprehensive equipment breakdown coverage on all objects, including production machinery which are under the Tenant’s care, custody and control. Basis of loss settlement shall be repair and replacement cost, with the same site limitation deleted. Coverage shall include business interruption, extra expense to the extent indicated in Section 12.1(a)(i)(C) and 12.1(a)(ii) and blanket by-laws. Coverage shall also include water damage; hazardous substances; ammonia contamination; and professional fees; with deductible with regards to the policies in subparagraphs (i) to (iv) no greater than $25,000 for direct damage; $50,000 for flood; and three percent (3%) of the property insured or $100,000, whichever is greater, for earthquake; and shall be the sole responsibility of the Tenant;
(v) commercial general liability insurance issued on an occurrence basis for an amount of not less than $10,000,000 per occurrence and $10,000,000 annual aggregate for any negligent act or omission by the Tenant or for those whom the Tenant is legally liable. Such insurance shall carry include bodily injury and maintain during the entire Term property damage, including loss of use; premises, property and operations; personal and advertising injury; owners’ and contractors’ protective; occurrence property damage products liability; broad form completed operations; incidental medical malpractice; non- owned automobile; broad form property damage; employer’s liability, including volunteer compensation; blanket contractual liability; liquor liability (including any option periods, if applicable), at Tenant’s ; and cross liability and severability of interests clauses. The deductible shall be no greater than $25,000 and shall be the sole cost and expense, increased amounts responsibility of the Tenant; and
(vi) if applicable, automobile liability insurance with respect to owned or leased vehicles used directly or indirectly by the Tenant covering third party liability for bodily injury, death and damage to property with a limit of not less than $5,000,000 inclusive for each and every loss.
(b) The insurance in Section 12.1(a)(v) shall add the Landlord and its elected officials, agents, officers and employees as additional insured with respect to the operations of the Tenant. This insurance shall be non-contributing and apply as primary and not as excess of any insurance available to the Landlord.
(c) The forgoing insurance shall name the Landlord and the Tenant Mortgagee as loss payee with respect to the insurance stipulated in Sections 12.1(a)(i), 12.1(a)(ii) and 12.1(a)(iv), as the interest of the Landlord or of the Tenant Mortgagee may appear.
(d) Notwithstanding Section 12.1(a) hereof, upon receiving the Approval of the Landlord, the Tenant may choose to self insure or to underinsure the Retail Component, if any insurance required to be carried by Tenant pursuant to this Article 14 hereunder is not available on commercially reasonable terms.
(e) Property, boiler and such other reasonable types of machinery insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordpolicies shall contain provisions for settling joint loss disputes.
Appears in 2 contracts
Samples: Retail Lease, Retail Lease
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article Section 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article Section 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 2 contracts
Samples: Office Lease (Celladon Corp), Office Lease (ASC Acquisition LLC)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordLandlord so long as the same is consistent with increasing industry standards for similar buildings in the general vicinity of the Project.
Appears in 2 contracts
Samples: Standard Office Lease (loanDepot, Inc.), Standard Office Lease (loanDepot, Inc.)
Tenant’s Insurance. Tenant, shall at all times during The Tenant will maintain the Term insurance described below throughout the term of this Leaselease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basisany renewal thereof, with a combined single limit for bodily injury insurers licensed and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) approved to operate in the annual aggregateprovince of Ontario:
(a) all risks, including products liability coverage if applicableearthquake and flood, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage property insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction cost, insuring (a) all property owned by the Tenant or for depreciation of all (A) Tenant Improvementswhich it is responsible, Alterations, fixtures and other improvements in located within the leased Premises, including but not limited to to, fittings, fixtures, additions, alterations, partitions, and all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication other Landlord's and other equipment, systems and facilitiesTenant's improvements, and (Bb) trade fixtures, the Tenant's furniture, equipment inventory, trade fixtures and equipment; and,
(b) Public liability insurance in a "commercial general insurance" format to include coverage against bodily injury, including death, and property damage. Such insurance is to name the tenant as insured and the landlord as additional insured;
(i) include extensions of coverage such as personal injury, contractual liability, premises liability, contingent employers liability, owners’ and contractors’ protective liability, products and completed operations, property damage, cross liability and severability of interests clause, liquor liability, breach of condition and non-owned automobile insurance; and,
(ii) cover the Tenant's use of the Premises and Common Areas, if any, including all of the Tenant's and their client’s activities and operations within all areas of the facility and any other personal property installed by or at Person performing work on behalf of the expense of Tenant, and those for whom the Tenant is responsible; and,
(iii) Worker’s Compensation coverage as required by lawbe written on an "occurrence" form with inclusive limits of liability no less than $5,000,000 per occurrence; and and,
(ivc) business interruptionInclude "broad form, loss tenants legal liability" insurance with limits of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of liability not less than twelve $250,000 per occurrence; and,
(12d) months. Tenant shall carry and maintain during the entire Term (including Include any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types form of insurance coverage that the Landlord, requires from time to time, in form, in sums and in such reasonable amounts covering for perils or risks insured against which a prudent Tenant would insure and shall name the Premises and Tenant’s operations therein, Landlord as may be reasonably required by Landlordan additional insured.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Tenant’s Insurance. Tenant, shall at all times Tenant’s expense, agrees to maintain in force, with a company or companies permitted to do business in the state where the Property is located, during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverageTerm: (ia) Commercial General Liability Insurance, written Insurance on a primary basis and without any right of contribution from any insurance carried by Landlord covering the Premises on an occurrence basisbasis against all claims for personal injury, with a combined single limit for bodily injury injury, death and property damages of damage, including standard contractual liability coverage in amounts not less than a minimum of One Million Dollars ($1,000,000.00) per occurrence and Two Million Dollars ($2,000,0002,000,000.00) per occurrence in the aggregate with extended coverages including follow form umbrella coverage with a Five Million Dollar ($5,000,000.00) limit; (b) Workers’ Compensation Insurance in amounts required by Washington Law; (c) Employers’ Liability Insurance for an amount of not less than One Million Dollars ($1,000,000.00), in accordance with the Laws of the State of Washington (provided that if this coverage is unavailable from the Worker’s Compensation carrier or applicable State Fund, a “Stop Gap Liability” endorsement to the Commercial General Liability Policy is acceptable); (d) a Special Cause of Loss Form property insurance, including earthquake sprinkler leakage, in an amount adequate to cover the full replacement cost of all Tenant Additions, equipment, installations, fixtures and contents of the Premises in the event of loss; and (e) In the event a motor vehicle is to be used by Tenant in connection with its business operation from the Premises, Business Automobile Liability Insurance coverage with limits of not less than Three Million Dollars ($3,000,0003,000,000.00) combined single limit coverage against bodily injury liability and property damage liability arising out of the use by or on behalf of Tenant, its agents and employees in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of connection with this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fireany owned, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by non-owned or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by lawhired motor vehicles; and (ivf) business interruption, loss of income and extra expense such other insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of coverages as Landlord reasonably requires consistent with the insurance and coverages required in other Class “A” office properties located in the Seattle Central Business District. Landlord reserves the right to be carried by require that Tenant pursuant increase the limits described above not more frequently than once every three (3) years to this Article 14 and such levels consistent with the limits required in other reasonable types of insurance coverage and Class “A” office properties located in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordSeattle Central Business District.
Appears in 2 contracts
Samples: Office Lease (Accolade, Inc.), Office Lease (Accolade, Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) [***] per occurrence and Three Million Dollars ($3,000,000) [***] in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord, so long as such increased amounts and/or other types of insurance coverage are then generally required by comparable landlords of comparable first-class, institutional quality buildings in the vicinity of the Project.
Appears in 2 contracts
Samples: Standard Office Lease (Lindows Inc), Standard Office Lease (Lindows Inc)
Tenant’s Insurance. Tenant, shall at all times 9.1.1 The Tenant will take out and keep in full force and effect with reputable insurers that are licensed to do business in the Province of Quebec during the Term and such other time as the Tenant occupies the Premises or any part thereof:
(a) comprehensive general liability with respect to the business carried on, in or from the Premises and its use and occupancy of this Leasethe Premises including, without limitation, personal injury liability, contractual liability, non-owned automobile liability and at its own cost and expenseemployer’s liability insurance, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Five Million Dollars ($2,000,0005,000,000.00), or such higher limits as the Landlord may from time to time require acting reasonably, for each occurrence in respect of any injury to, death of, or loss suffered by one or more persons;
(b) per occurrence and Three Million Dollars ($3,000,000) plate glass insurance in an amount sufficient to replace all plate glass comprises in the annual aggregatePremises and in the doors and windows thereof;
(c) “all risk” property’ insurance, including products liability coverage if applicableincluding, owners without limitation, fire and contractors protective coveragetheft, blanket contractual coverage including both oral flood, earthquake, sewer back-up and written contractsfor such other and further risks as the Landlord may require from time to time, on a replacement cost basis, of the Tenant’s inventory and stock-in-trade, Tenant’s Work as provided for in Schedule “E”, furniture and fixtures, and personal injury coverageall alterations, covering decorations, additions and improvements installed or brought by the insuring provisions of this Lease Tenant to the Premises and all property owned by the performance of Tenant of or for which the indemnity and exemption of Landlord from Tenant is legally liable;
(d) the Tenant’s legal liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided with respect to the Premises in an amount equal to Five Million Dollars ($5,000,000.00) or in such higher limits as the full Landlord may require from time to time acting reasonably and in accordance with industry norms;
(e) broad form boiler and machinery insurance on a blanket repair and replacement value new without deduction for depreciation basis of all the property insured pursuant to Paragraph 9.1.1 (Ac) above;
(f) Intentionally Deleted
(g) any other type of insurance or any additional coverage that the Landlord or its Mortgagee may request from time to time, acting reasonably and in accordance with industry norms.
9.1.2 Each insurance policy required of the Tenant Improvementsas aforesaid shall be on terms and conditions, Alterations, fixtures and other improvements with such insurers as are reasonably available in the Premisesmarketplace and will name the Landlord and any Mortgagee as an additional insured and loss payee, including as their respective interests appear and will include the Mortgagee’s standard mortgage clause, a waiver of rights of subrogation against the Landlord. If the Landlord is an insured under such policy, a cross-liability and severability of interest clause providing for coverage in respect of any claim brought by any insured against any other one or more insureds as if a separate policy has been issued to each insured, a provision that breach of the policy by any insured will not affect the policy protection of any other insured, and a provision that the insurer will not cancel or change or refuse to renew the insurance without first giving the Landlord at least ten (10) days’ prior written notice shall be included in such policy, The Tenant shall have no interest in the Landlord’s insurance. Certificates of insurance shall be remitted to the Landlord in a reasonable amount of time after coverage comes into force. Before any such insurance policy comes into force, the Landlord shall be remitted confirmation of insurance from insurers. Provided the Tenant fails to cause its insurers to provide the Landlord with such coverage confirmation, the Landlord shall following two (2) business days prior written notice, have the right, but not limited the obligation, to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication take any such coverage in the name and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 2 contracts
Samples: Lease Agreement (DAVIDsTEA Inc.), Lease Agreement (DAVIDsTEA Inc.)
Tenant’s Insurance. TenantDuring the Lease Term, Tenant shall at maintain (a) cause of loss – special form property insurance, ISO Form CP 1030 (or comparable coverage by whatever name denominated), covering all times during alterations, additions, or improvements to the Term of this LeasePremises made after the Commencement Date, and at its own cost all trade fixtures, office supplies, office furniture and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsequipment, and all personal injury coverageproperty located on the Premises, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all cost, (Ab) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense commercial general liability insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinuse thereof on ISO Form CG 0001 (or comparable coverage by whatever name denominated), insuring against claims for personal or bodily injury or death or property damage (including contractual indemnity and liability coverage without contractual exclusion) occurring upon, in or about the Premises, affording protection to the limit of not less than $1,000,000 per occurrence for bodily injury and property damage, $1,000,000 per occurrence for personal or advertising injury, and $2,000,000 for general aggregate liability (c) motor vehicle liability insurance with coverage for all owned, non-owned, and hired vehicles with combined single limits of not less than $2,000,000 per occurrence, (d) business income and extra expense coverage in an amount not less than six months of income and ongoing expenses and including an endorsement to cover losses arising from interruption of utilities outside of the Premises, (e) if requested in writing by Landlord based upon its reasonable assessment of the risk of liability arising out of Tenant’s activities or proposed activities on or about the Premises, environmental liability insurance covering the cost of investigation, response or remediation related to Hazardous Substances disposed of or released on, under, or about the Building and the Premises by Tenant in the amount of One Million Dollars ($1,000,000) per occurrence, and (f) such other insurance and such other coverage as Landlord shall deem appropriate. Tenant’s policies (1) must contain an endorsement that Tenant’s insurance is primary, with the policies of Landlord being excess, secondary and noncontributing, (2) must be issued by and binding upon an insurance company licensed to do business in the state in which the Land is located having a Best’s Rating of A- or better and a Best’s Financial Size Category of VII or better, (3) shall name Landlord and any individuals, entities or firms involved with, or having a lien upon, the Premises, the Land, the Building and/or the Project (the “Protected Parties”), which Landlord may designate from time to time by delivering written notice thereof to Tenant, as may be reasonably required an additional insured and must not exclude coverage for the sole or contributory ordinary negligence of Landlord, and (4) require thirty (30) days advance written notice to Landlord prior to cancellation. Tenant shall deliver such certificates, documents or other instruments of proof requested by Landlord, evidencing such coverage (i) prior to the Commencement Date, (ii) at least fifteen (15) days prior to the expiration of such policies, and (iii) within fifteen (15) days after written request of Landlord; provided, further, that Accord Form 25 Certificates of Liability shall be used for liability coverage and Accord Form 28 Evidence of Property Insurance shall be used for property coverage.
Appears in 2 contracts
Samples: Lease Agreement (Lakeside Holding LTD), Lease Agreement (Lakeside Holding LTD)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability InsuranceInsurance (which may include umbrella insurance) insuring both Landlord and Tenant against all claims, demands or actions for bodily injury, property damage, personal and advertising injury, and medical payments arising out of or in connection with Tenant's use or occupancy of the Premises, or by the condition of the Premises, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregateaggregate (and no offset for occurrences on property other than the Premises), including products liability coverage if applicable, owners and contractors protective coveragecoverage (when Tenant performs Alterations), blanket contractual coverage including both oral and written contractscoverage, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Improvements and Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; and (iii) Worker’s 's Compensation and Employers liability coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsLaw. Tenant shall carry and maintain during the entire Term (including any option periodsOption Terms, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord, but Landlord shall only be entitled to require such increased amounts and/or other coverages if they are then generally required by owners of comparable buildings in the San Diego County, California area.
Appears in 2 contracts
Samples: Lease (Cohu Inc), Agreement of Purchase and Sale (Cohu Inc)
Tenant’s Insurance. Tenant(a) Tenant shall, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure obtain and continue maintain in full force and effect at all times with respect to the following Premises insurance coverage: throughout the Term and any extension and or renewal thereof (and such other times, if any, as Tenant occupies the Premises) which coverage shall include the following:
(i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit commercial general liability insurance for bodily injury and property damages damage including the following extensions: owners and contractors protective; limited pollution coverage; products and completed operations; personal injury; occurrence basis property coverage; blanket written contractual; non-owned automobile liability; severability of interests; cross liability; and employer’s liability, all on an occurrence basis with coverage for any one occurrence or claim of not less than Two Five Million Dollars ($2,000,0005,000,000.00) Dollars per occurrence occurrence;
(ii) “all risks” property insurance covering the Leasehold Improvements, and Three Million Dollars ($3,000,000) all other property of every description, nature and kind owned by Tenant or for which Tenant is legally liable, which is installed, located or situate in or about the Premises or elsewhere in the annual aggregateProject, including products liability coverage without limitation, trade fixtures, furnishings, equipment, all inventory or stock in trade and all signs in, on or about the Premises, for not less than the full replacement cost thereof;
(iii) if applicable, owners broad form comprehensive boiler and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering machinery insurance on all insurable objects located on the insuring provisions Premises or which are the property or responsibility of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks)Tenant, including a vandalism and malicious mischief repair or replacement endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and ;
(iv) business interruptioninterruption insurance, including extra expense insurance, either as an extension to or on the same form as the insurance referred to in subsections 13.3(a)(ii) and 13.3(a)(iii) above, and in such amounts from time to time as necessary to fully compensate Tenant for direct or indirect loss of income sales or earnings and extra expense expenses incurred resulting from or attributable to any of the perils required to be insured against under the policies referred to in subsections 13.3(a)(ii) and 13.3(a)(iii) above and all circumstances usually insured against by prudent tenants including losses resulting from interference with or prevention of access to the Premises or the Project as a result of such perils or for any other reason;
(v) plate glass insurance covering on all internal and external glass within, fronting or forming part of the Premises; however notwithstanding the foregoing, Tenant may elect to self insure for the insurance described in this 13.3(a)(v); and
(vi) any failure other insurance against such risks and in such form and amounts as Landlord may from time to time reasonably require upon not less than thirty (30) days’ written notice, provided Landlord agrees it shall not require Tenant to maintain additional insurance coverage unless such additional insurance coverage has become generally accepted insurance, generally maintained by comparable tenants or interruption is required as a result of the particular nature of Tenant’s business equipment operations.
(includingb) The insurance policies referred to in this Section 13.3 shall be subject to such higher limits as Tenant, without limitationor Landlord acting reasonably may require from time to time, telecommunications equipmentprovided Landlord agrees it shall not require Tenant to maintain higher limits unless such higher limits have become generally accepted limits, generally maintained by comparable tenants or are required as a result of the particular nature of Tenant’s business operations. The policies referred to in Section 13.3(a) above shall contain a waiver of the insurer’s right of subrogation against Landlord and covering Landlord’s Parties and, notwithstanding anything contained in this Lease to the contrary, Tenant hereby waives its right of recovery against Landlord and Landlord’s Parties with respect to all other perilsmatters required to be insured against by Tenant hereunder. The policy referred to in subsection 13.3(a)(i) shall name Landlord and any others designated by Landlord as additional insureds and the policies referred to in subsections 13.3(a)(ii), failures (iii), (v) and, to the extent applicable (vi), shall name Landlord and any others designated by Landlord as loss payee as their interests may appear. Any and all deductibles in Tenant’s insurance policies shall be borne solely by Tenant and shall not be recovered or interruptions sufficient attempted to cover a period of interruption of be recovered from Landlord. In addition, all such policies shall be non-contributing with, and will apply only as primary and not less than twelve excess to, any insurance proceeds available to Landlord.
(12c) months. Tenant shall carry provide to Landlord at the commencement of the Term and at least thirty (30) days prior to the renewal of all insurance referred to in this Section 13.3, and promptly at any time upon request, a certificate of insurance evidencing the insurance coverage required to be maintained by Tenant in accordance with this Section 13.3. The delivery to Landlord of a certificate of insurance or any review thereof by or on behalf of Landlord shall not limit the obligation of Tenant to provide and maintain during insurance pursuant to this Section 13.3 or derogate from Landlord’s rights if Tenant shall fail to fully insure. Where used in this subsection 13.3(c), the entire Term (including any option periodsterm “Landlord” shall include Landlord’s manager of insurance, if applicable)any.
(d) All policies shall provide that the insurance shall not be cancelled or changed below the requirements set out in Section 13.3 without at least thirty (30) days prior written notice given by the insurer to Landlord. All policies of insurance shall be placed with a company licensed to sell commercial insurance in Canada.
(e) Tenant acknowledges and agrees that, at Tenant’s sole cost if it fails to obtain and expense, increased amounts maintain in force any of the insurance required to be carried by policies set out in this Section 13.3, then Tenant pursuant to this Article 14 shall indemnify and hold harmless Landlord and Landlord’s Parties in respect of any such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordlosses arising therefrom.
Appears in 2 contracts
Samples: Multi Tenant Industrial Lease (PointClickCare Corp.), Multi Tenant Industrial Lease (PointClickCare Corp.)
Tenant’s Insurance. TenantTenant shall, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,0002,000.000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and for written contracts, . and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvementsimprovements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, . plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; : (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve six (126) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 2 contracts
Samples: Standard Office Lease (Castle Biosciences Inc), Standard Office Lease (Castle Biosciences Inc)
Tenant’s Insurance. TenantThe Tenant shall, shall at all times its expense, maintain in force during the Term of this LeaseTerm, and at its own cost any other period of occupation, in the name of the Tenant (with the Landlord, the Landlord’s property manager, asset manager and expensehypothecary creditor, procure and continue in force if any, named as additional insureds as their respective interests may appear) the following insurance:
(a) comprehensive general liability insurance coverage: against claims for personal injury, death or property damage (iincluding but not limited to tenants’ legal liability, personal injury liability, products liability, property damage and contractual liability to cover all indemnities) Commercial General Liability Insurancewith respect to the business or operations carried on in and from the Leased Premises, written on an occurrence basis, with a combined single limit for bodily injury in amounts required by the Landlord and property damages any hypothecary creditor of not the Building or any part thereof from time to time but in no event less than Two Five Million Dollars ($2,000,0005,000,000.00) per occurrence occurrence;
(b) “All Risks” insurance including flood, earthquake and Three Million Dollars sewer backup, with extended coverage endorsement and water damage insurance ($3,000,000) in the annual aggregateincluding, including products liability coverage if applicable, owners sprinkler leakage) covering all contents of the Leased Premises and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering all other property for which the insuring provisions of Tenant is legally liable for or responsible for pursuant to this Lease and the performance of Tenant and/or which has been installed by or on behalf of the indemnity Tenant (including without limitation all movables, equipment, machinery, furniture, inventory, fixtures and exemption of Landlord from liability agreements set forth in Article 13 hereof; (iiall Leasehold Improvements) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction thereof;
(c) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements each accident in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption amount of not less than twelve 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 (12other than the Landlord) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts on behalf of the Tenant in the Leased Premises;
(d) business interruption insurance required in such amounts as will reimburse the Tenant for direct or indirect loss of earnings including continuing and extra expenses attributable to be carried all perils insured against by the Tenant pursuant to this Article 14 hereunder;
(e) glass insurance, for the benefit of the Landlord and the Tenant, covering all exterior and interior glass in the Leased Premises, including plate glass windows and doors; and
(f) such other reasonable types forms of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by the Landlord, its representatives and its hypothecary creditor from time to time. All policies required to be written on behalf of the Tenant pursuant to this Section shall contain the Landlord’s hypothecary creditor standard hypothecary clause as applicable, and shall contain a waiver of any subrogation rights which the Tenant’s insurers may have against the Landlord, its property manager and against those for whom the Landlord is in law responsible, whether any such damage is caused by the act, omission or negligence of the Landlord or those for whom the Landlord is in law responsible. All policies will have reasonable deductibles and will be primary and not call into contribution or be in excess of any other insurance available to the Landlord or any additional insureds. All policies shall be taken out with insurers acceptable to the Landlord and shall be in a form satisfactory from time to time to the Landlord. The Tenant agrees that certificates of insurance on the Landlord’s standard form or if required by the Landlord or the Landlord’s hypothecary creditor certified copies of each such insurance policy will be delivered to the Landlord immediately after the placing, removal, amendment or extension of the required insurance. All policies shall contain an undertaking by the insurers to notify the Landlord and the Landlord’s hypothecary creditor in writing not less than thirty (30) days prior to any material change, cancellation or termination thereof. The Tenant agrees that if the Tenant fails to take out or keep in force any such insurance referred to in this Section, or should any such insurance not be approved by either the Landlord or the Landlord’s hypothecary creditor and should the Tenant not rectify the situation immediately after written notice by the Landlord to the Tenant, the Landlord has the right without assuming any obligation in connection therewith to effect such insurance at the sole cost of the Tenant and all outlays by the Landlord shall be immediately paid by the Tenant to the Landlord as Additional Rent without prejudice to any other rights and remedies of the Landlord under this Lease.
Appears in 2 contracts
Samples: Lease (Repare Therapeutics Inc.), Lease (Repare Therapeutics Inc.)
Tenant’s Insurance. TenantCommencing the date Tenant is required to provide Landlord with the certificate of insurance, shall at all times during the Term of this Leaseas provided below, and continuing until the expiration or earlier termination of the Lease Term, Tenant shall carry and maintain at its own cost and expense, procure and continue in force expense the following insurance coveragecoverages with insurance companies reasonably acceptable to Landlord with a rating of A-, Class VII, or better by A.M. Best Company: (i) Commercial General Liability Insurance, (CGL) Policy (written on an occurrence basis), with a limits not less than One Million Dollars ($1,000,000) combined single limit per occurrence, Two Million Dollar ($2,000,000) annual aggregate covering liability arising from premises, operations, independent contractors, products-completed operations, and liability assumed under a contract; (ii) Property Damage Insurance on a Causes of Loss-Special Form basis covering on a replacement cost value all Above Standard improvements, fixtures, personal property and equipment located within the Premises; (iii) Business Interruption and Extra Expense insurance in such amounts as will reimburse Tenant for bodily injury direct or indirect loss of earnings attributable to the perils insured against under this section; (iv) Workers’ Compensation insurance policy as required by the applicable state law, and property damages Employers Liability insurance with limits of not less than Two One Million Dollars ($2,000,0001,000,000.00); (v) per occurrence Automobile Liability insurance with single limit coverage of at least $1,000,000 for all owned, leased/hired or non-owned vehicles; and Three (vi) Excess/Umbrella liability policy “following form” of not less than Four Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks4,000,000), including a vandalism “drop down” feature in case the limits of the primary policy are exhausted. Landlord may also require all Outside Contractors to provide additional types of insurance coverages during the actual course of construction in amounts and malicious mischief endorsementtypes deemed necessary by Landlord, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipmentconstruction All-Risk Builder’s risks, Owners and Contractors Protective (OCP) Liability insurance, Professional Errors and Omissions liability insurance, and insurance covering all other perilssuch contractor’s equipment and tools. Each Liability insurance policy required to be maintained hereunder by Tenant shall name the following entities as Additional Insureds: Landlord, failures Cousins Realty Services, LLC, and their direct and indirect parent companies and subsidiaries and any of their affiliated entities, successors and assigns, as well as their respective current or interruptions sufficient future directors, officers, employees, partners, members and agents. Tenant’s insurance shall be considered primary, not excess, and non-contributory with Landlord’s insurance policies. Insurance deductibles or retentions should be within reasonable and customary for policy holders in similar businesses and locations. An XXXXX 25 certificate of such insurance in the most recent edition available and reasonably satisfactory to cover Landlord, before the earlier of the Commencement Date or ten (10) days after execution of the Lease, reflecting the limits and endorsements required herein, and renewal certificates shall be delivered to Landlord within a period few days of interruption of not less than twelve (12) monthsrenewal, provided there is no lapse in coverage. Tenant shall carry provide and/or forward to Landlord notice of nonrenewal from its insurance carrier and maintain during further inform Landlord of any significant policy changes allowing enough time for Landlord and/or Tenant to secure contingent or alternative coverage. Landlord agrees to cooperate with Tenant to the entire Term (including any option periodsextent reasonably requested by Tenant to enable Tenant to obtain such insurance. Landlord shall have the right to require increased limits if, in Landlord’s reasonable judgment, such increase is necessary. Tenant shall pay all premiums and charges for all of said policies, and, if applicable)Tenant shall fail to make any such payment when due or carry any such policy, Landlord may, following five (5) days written notice from Landlord, but shall not be obligated to, make such payment or carry such policy, and the amount paid by Landlord, with interest thereon at Tenant’s sole cost and expensethe Default Rate, increased amounts of the insurance required shall be repaid to be carried Landlord by Tenant pursuant within ten (10) days following demand therefor, and all such amounts so repayable, together with such interest, shall be deemed to constitute additional Rent hereunder. Payment by Landlord of any such premium, or the carrying by Landlord of any such policy, shall not be deemed to waive or release Tenant from any remedy available to Landlord under this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordLease.
Appears in 2 contracts
Samples: Commercial Lease (Ziprecruiter, Inc.), Commercial Lease (Ziprecruiter, Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article Section 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article Section 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Samples: Office Lease (Ecotality, Inc.)
Tenant’s Insurance. Tenant(a) Tenant further covenants and agrees that throughout the Lease Term hereof, shall at all times during the Term of this LeaseTenant will carry and maintain, and at its own sole cost and expense, procure and continue in force the following insurance coverage: types of insurance, in the amounts specified and in the form hereinafter provided for:
(i) Commercial General and Umbrella Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts Insurance covering the Premises and Tenant’s operations thereinuse thereof against claims for personal injury or death, as may property damage and product liability occurring upon, in or about the Premises, such insurance to be reasonably written on an occurrence basis (not a claims made basis), with a limit for each occurrence not less than $1,000,000 and to have general aggregate limits of not less than $2,000,000, together with umbrella or excess liability insurance with limits of $15,000,000 for each occurrence and in the aggregate, for each policy year. The insurance coverage required under this Section 10.1(a)(i) shall, in addition, extend to any liability of Tenant arising out of the indemnities provided for in Section 14.1 and, if necessary, the policy shall contain a contractual endorsement to that effect. CGL insurance shall be written on ISO occurrence form CG 00 01 01 96 (or a substitute form providing equivalent or better coverage). The certificate of insurance evidencing the Commercial General Liability and Umbrella Liability coverage shall specify all endorsements required herein, shall name all additional insureds via the CG 2011 Additional Insured-Managers/Lessors of Premises endorsement required by Section 10.1(b) below.
(ii) Commercial all risk property insurance covering all of the items included in Tenant’s leasehold improvements, heating, ventilating and air conditioning equipment maintained by Tenant, trade fixtures, merchandise and personal property from time to time in, on or upon the Premises, and alterations, additions or changes made by Tenant pursuant to Section 15.1, in an amount not less than one hundred percent (100%) of their full replacement value from time to time during the Term, providing protection against perils included within the ISO Special Causes of Loss –Form insurance policy (or substitute form providing, in Landlord’s reasonable discretion, equivalent or better coverage), together with insurance against sprinkler damage, vandalism and malicious mischief. Any policy proceeds from such insurance shall be held in trust by Tenant’s insurance company for the repair, construction and restoration or replacement of the property damaged or destroyed unless this Lease shall cease and terminate under the provisions of Section 21.1 of this Lease. The certificate of insurance evidencing such coverage which is delivered by Tenant pursuant to Section 10.1(b) below shall designate Landlord and Xxxxx Management, Inc. as loss payee as their interests may appear with respect to the Building, all leasehold improvements, heating, ventilating and air-conditioning equipment and all fixtures (other than Tenant’s trade fixtures).
(iii) Workers’ Compensation and Employer’s Liability insurance affording statutory coverage and containing statutory limits with the Employer’s Liability portion thereof to have minimum limits of $500,000.00.
Appears in 1 contract
Samples: Office Lease (Gaiam Inc)
Tenant’s Insurance. TenantTenant shall, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: :
(i) Commercial General Liability Insurance, written on an occurrence basis, Insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, Premises and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business 's telecommunications equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsinterruptions. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during 12.01 From and after the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions date of this Lease and throughout the performance Term Tenant, at the sole cost and expense of Tenant Tenant, shall maintain in full force and effect with responsible insurance companies licensed to do business in the State of New Jersey and satisfactory to Landlord, the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; following insurance:
(iia) a policy of standard all risk property insurance against loss or damage by fire, extended coverage and special extended coverage insurance (all risks)windstorm, including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers such other hazards as are provided included in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by so-called “extended coverage” or at the expense of Tenant; (iii) Worker’s Compensation coverage as may be otherwise reasonably required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment Landlord (including, without limitation, telecommunications equipmenttheft and, if applicable, boiler and machinery coverage), covering all FF&E and improvements and betterments in the Leased Property for their full replacement value, such insurance to include a replacement cost endorsement and a “waiver of co-insurance” clause;
(b) commercial general liability insurance on an occurrence basis for death, bodily and personal injury (including contractor’s liability) and covering all other perilsproperty damage occurring on or about the Leased Property with limits of liability in the amount of at least $1,000,000 combined single limit for any one occurrence, failures which insurance coverage shall also include, without limitation, (1) products and completed operations insurance with the aforesaid limits, (2) hired, non-owned automobile liability insurance with the aforesaid limits (if applicable), and (3) garage keeper’s liability insurance with limits of $100,000 per incident;
(c) workers’ compensation insurance and disability insurance subject to statutory limits or interruptions sufficient better, as required by applicable Legal Requirements;
(d) dram shop/liquor legal liability insurance with respect to cover a period the Leased Property and the operations of interruption Tenant with limits of not less than twelve $1,000,000 per occurrence with respect to personal injury and property damage;
(12e) monthsautomobile liability insurance (if Tenant shall own or lease or use any vehicles in connection with its business at the Premises) with limits of not less than $1,000,000 per occurrence with respect to personal injury and property damage;
(f) during the performance of an Tenant’s Changes, until completion thereof, Builder’s risk insurance on an “all risk” basis and on a completed value form for full replacement value covering the interest of Landlord and Tenant (and their respective contractors and subcontractors) and any Superior Mortgagee or Superior Lessor in all work incorporated in the Facility and all materials and equipment in or about the Premises;
(g) $24,000,000 umbrella liability with respect to each of the liability coverages required hereunder;
(h) such other insurance which Landlord may, from time to time, reasonably require arising out of Tenant’s use or manner of use of the Leased Property, and that is generally required to be obtained by operators of comparable facilities in Essex County, New Jersey.
12.02 Any deductible under the insurance policies provided by Tenant as required by this Article 12 shall be subject to Landlord’s approval (not to be unreasonably withheld) and all such insurance, other than the insurance referred to in paragraph (c) hereof, shall (i) be carried in favor of Landlord, Landlord’s members, Landlord’s managing agent and Tenant, as their interests may appear, and if requested by Landlord, any such insurance shall include the interest of Superior Mortgagee(s) and Superior Lessor(s) (it being understood that Landlord, Wilshire Enterprises, Inc., Proud Three, LLC, Landlord’s managing agent and such other parties that Landlord shall designate shall be named as additional insureds on such policies) and shall provide that the loss, if any, shall be payable jointly to such Superior Mortgagee(s), Superior Lessor(s), Landlord and Tenant, as their respective interests may appear (ii) provide primary coverage without contribution from any other insurance carried by Landlord or any Superior Mortgagee or Superior Lessor named as additional insured, and (iii) provide for not less than twenty (20) days’ prior written notice to Landlord and to any such Superior Mortgagee(s) and such Superior Lessor(s), of any cancellation, election not to renew or material alteration thereof. Tenant shall carry deliver to Landlord such policies or certificates thereof with evidence of the payment of premiums therefor before entering into possession of the Leased Property, and maintain shall procure and deliver to Landlord renewals thereof with evidence of the payment of premiums therefor at least thirty (30) days before the expiration of any such policies, which certificates shall be in form reasonably satisfactory to Landlord. Tenant and Landlord shall cooperate in connection with the collection of any insurance moneys that may be due, including the execution and delivery by Tenant to Landlord of such proofs of loss and other instruments which may be required for the purpose of obtaining the recovery of any such insurance moneys. For purposes of this Article 12, “insurance” shall be deemed to mean valid and collectible insurance written on an “occurrence” basis, covering losses in respect of occurrences during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts term of the this Lease. Any certificate of such insurance required to be carried furnished by Tenant pursuant to this Article 14 and Landlord shall clearly specify the occurrence basis upon which such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordpolicy is written.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, Insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) per occurrence and Five Million Dollars ($5,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, Premises and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business telecommunications equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsinterruptions, if commercially available. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: :
(i) Commercial General Liability Insurance, written on an occurrence basis, Insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, Premises and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business 's telecommunications equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsinterruptions. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord, so long as such increased amounts and/or other types of insurance coverage are then generally required by comparable landlords of comparable first-class, institutional quality office buildings in the vicinity of the Project.
Appears in 1 contract
Samples: Standard Multi Tenant Industrial Lease (Patriot Scientific Corp)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coveragecoverage if applicable, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard firefire written on special form, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsementmischief, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than One Million Dollars ($1,000,000) per occurrence and Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereofLease; (ii) umbrella/excess liability insurance in an amount of not less than Ten Million Dollars ($10,000,000) for each occurrence and general aggregate; (iii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksspecial form), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the 100% full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of TenantTenant or otherwise located in the Premises and with such policy naming Landlord as loss payee as its interests may appear; (iiiiv) Worker’s Compensation and employers liability coverage as required by lawlaw and with limits of not less than $1,000,000, each accident, $1,000,000, disease policy limit, and $1,000,000, disease each employee (which policies shall contain waivers of subrogation in favor of Landlord); (v) boiler and machinery insurance on all boilers, pressure vessels, gas-fired equipment, air conditioning equipment installed by the Tenant and systems serving the Premises and, if not covered by the insurance described in subsection (iviii), then the insurance specified in this subsection (v) shall be in an amount not less than one hundred percent (100%) of full replacement cost of such items; (vi) business interruption, loss of income and extra expense insurance covering any failure or interruption with coverage that will reimburse Tenant for all direct and indirect loss of income and changes and costs incurred arising out of all named perils insured against by Tenant’s business equipment (includingpolicies of property insurance, without limitationincluding prevention of, telecommunications equipment) and covering or denial of use of or access to, all other perils, failures or interruptions any part of the Premises or Project as a result of those named perils sufficient to cover a period of interruption of not less than twelve (12) monthsmonths of the loss of income, charges and costs contemplated under this Lease; and (vii) medical malpractice insurance at limits of not less than $1,000,000 each claim during such periods, if any, that Tenant engages in the practice of medicine or clinical trials involving human beings at the Premises. Pollution Legal Liability insurance shall also be required if Tenant stores, handles, generates or treats Hazardous Materials on or about the Premises. Such coverage shall include bodily injury, sickness, disease or death sustained by any person; property damage including damage to or destruction of tangible property including the resulting loss of use thereof, clean-up costs, and the loss of use of tangible property that has not been damaged or destroyed; defense costs, charges and expenses incurred in the investigation, adjustment or defense of claims for such compensatory damages. Such coverage shall apply to both sudden and non-sudden pollution conditions including the discharge, dispersal, release or escape of smoke, vapors, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or pollutants into or upon land, the atmosphere or any watercourse or body of water. Claims-made coverage is permitted for Pollution Legal Liability insurance, provided the policy retroactive date is as of the earlier of the Pod 4 Portion Commencement Date and Pod 5 Portion Commencement Date, as the case may be, and coverage is continuously maintained during all periods in which Tenant occupies the Premises. Coverage for Pollution Legal Liability insurance shall be maintained with limits of not less than $1,000,000 per incident with a $2,000,000 policy aggregate. Finally, Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord, so long as such increased amounts and/or other types of insurance coverage are then generally required by comparable landlords of comparable first-class, institutional quality buildings in the vicinity of the Project.
Appears in 1 contract
Samples: Lease Agreement (Oncorus, Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure shall purchase and continue maintain in force effect throughout the Term, the following insurance coverage: policies of insurance, for the benefit of Tenant and naming the Landlord Parties, as additional insureds, issued by companies licensed to do business in the State in which the Property is located and which have an “A.M. Best’s” rating of “A-XII” or higher with the following coverages in the following amounts (and with any increases in such amounts which Landlord may require upon not less than 30 days’ prior written notice to Tenant; provided such increases are consistent with the limits then being required of tenants by other landlords of comparable buildings in the same geographic area as the Building):
(i) Commercial General Liability Insurance, written Insurance on an occurrence a primary and non-contributory basis, with a combined single limit insuring Tenant and naming the Landlord Parties and any other parties designated by Landlord from time to time as additional insureds, covering, without limitation, any liability for bodily injury injury, personal injury, including death, and property damages damage arising out of Tenant’s operations, acts, omissions, assumed liabilities or use of the Premises, with coverage of not less than One Million Dollars ($1,000,000) per occurrence, Two Million Dollars ($2,000,000) per occurrence general aggregate and Three Million containing a deductible not in excess of Ten Thousand Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; 10,000).
(ii) a policy of standard Property Insurance including, but not limited to, fire, extended coverage and special extended coverage insurance (all risks)sprinkler leakage, including a vandalism and malicious mischief endorsementvandalism, sprinkler leakage coverage flood and earthquake sprinkler leakage where sprinklers are provided coverage (y) in an amount equal amounts which, together with the amounts of insurance coverage which Landlord is required to maintain pursuant to Section 12(a) above, would cover the full replacement value new without deduction for depreciation cost of all (A) Tenant Improvementsadditions, Alterations, fixtures improvements and alterations to the Premises and providing that the Landlord Parties and any other improvements in the Premises, including but not limited parties designated by Landlord from time to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilitiestime are loss payees or additional insureds as their interests may appear, and (Bz) covering all office furniture, trade fixtures, furnitureoffice equipment, equipment machinery, movable partitions, wall and floor coverings, inventory, merchandise and all other personal property installed by or at the expense items of Tenant’s property on the Premises (collectively, “Tenant’s Property”). Such insurance shall be written on an “all risks” of physical loss or damage basis, for the full replacement cost value of the covered items and in amounts that meet any coinsurance clause of the policies of insurance. In the event of a loss, the proceeds of such insurance shall be used for the repair or replacement of the property insured; except that if this Lease is terminated following a casualty, the proceeds applicable to the Building and/or the Property shall be paid to Landlord and the proceeds applicable to Tenant’s Property shall be paid to Tenant.
(iii) Worker’s Compensation coverage as Insurance covering all employees of Tenant performing work in, on, or with respect to the Premises, in amounts not less than those required by law; and Law.
(iv) business interruption, loss of income and extra expense Employers liability insurance covering any failure all employees of Tenant performing work in, on or with respect to the Premises, in amounts not less than One Million Dollars ($1,000,000) for each accident and One Million Dollars ($1,000,000) for diseases of each employee, agent and contractor.
(v) Extra expense and business interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of insurance with limits not less than twelve (12) monthsmonths of Base Rent and Tenant Reimbursement Amount, naming Landlord as loss payee, as its interest may appear.
(vi) Automobile Insurance on a primary and non-contributory basis, insuring Tenant and naming the Landlord Parties and any other parties designated by Landlord from time to time as additional insureds, covering all owned, non-owned and hired automobiles with limits of liability of not less than One Million Dollars ($1,000,000) for bodily injury to any one person, and One Million Dollars ($1,000,000) for property damage for each accident. Such insurance shall provide that the insurance company waives the rights of recovery or subrogation against the Landlord Parties and their insurers.
(vii) Umbrella or Excess Liability coverage on a primary and non-contributory basis, insuring Tenant and naming the Landlord Parties and any other parties designated by Landlord from time to time as additional insureds, in amounts not less than Three Million Dollars ($3,000,000). Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at concurrently with Tenant’s sole cost execution of this Lease and expensefrom time to time thereafter upon insurance renewals, increased amounts of the insurance required furnish to be carried by Tenant pursuant to this Article 14 and such other reasonable types Landlord certificates of insurance evidencing such coverage and in with renewal certificates no less than thirty (30) days prior to the expiration of such reasonable amounts covering the Premises policies, which certificates of insurance shall state that such insurance coverage may not be amended, changed or canceled without at least thirty (30) days’ prior written notice to Landlord and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Samples: Lease Agreement (NEUROONE MEDICAL TECHNOLOGIES Corp)
Tenant’s Insurance. TenantTenant shall maintain insurance complying with all of the following:
A. Tenant shall procure, shall at all times during the Term of this Lease, pay for and at its own cost keep in full force and expense, procure and continue in force the following insurance coverageeffect: (i) Commercial General Liability Insurancecommercial general liability insurance, written on including property damage, against liability for personal injury, bodily injury, death and damage to property occurring in or about, or resulting from an occurrence basisin or about, the Premises with combined single limit coverage of not less than the amount specified in Section P of the Summary, which insurance shall contain a “contractual liability’’ endorsement insuring performance of Tenant’s obligation to indemnify Landlord contained in ¶10.3: (ii) fire and property damage insurance in a “Causes of Loss—Special Form” (formerly known as “All Risk”) policy insuring Tenant’s trade fixtures, personal property, and Tenant’s Alterations for their full actual replacement cost; (iii) workers’ compensation insurance as required by statute and employee’s liability insurance in an amount of not less than $500,000 per occurrence; (iv) comprehensive automobile liability insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars (at least $2,000,000) 1,000,000 per occurrence and Three Million Dollars ($3,000,000) in the annual aggregatefor claims arising out of any owned, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereofnon-owned or hired automobiles; (iiv) a policy of standard fire, extended coverage and special extended coverage adequate business interruption insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry months and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost vi) such other insurance and expense, increased amounts of insurance as are either (1) required by any Lender, (2) reasonably required by Landlord, or (3) customarily carried by tenants of similar property in similar businesses.
B. Where applicable and required by Landlord, each policy of insurance required to be carried by Tenant pursuant to this ¶9.1: (i) shall name Landlord and such other parties in interest as Landlord reasonably designates as additional insured; (ii) shall be primary and not secondary or contributing; (iii) shall be in a form and carried with companies reasonably acceptable to Landlord; (iv) shall provide that such policy shall not be subject to cancellation, lapse or chance except after at least 30 days prior written notice to Landlord; (v) shall not have a “deductible” in excess of such amounts as are approved by Landlord; and (vi) shall contain a cross liability endorsement and a “severability” clause.
C. A copy of each paid-up policy evidencing the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types ¶9.l (appropriately authenticated by the insurer) shall be delivered to Landlord prior to the time Tenant or any of insurance coverage and in such reasonable amounts covering its Agents enters the Premises and Tenantupon renewal of such policies, but not less than 5 days prior to the expiration of the term of such coverage. In lieu of delivering the policy, Tenant may substitute a certificate issued by the insurer in form and content satisfactory to Landlord in Landlord’s operations thereinsole discretion. If Tenant fails to procure and maintain such insurance, Landlord may, but need not, procure and maintain the same, and Tenant shall pay Landlord as may be reasonably required by Additional Rent the cost thereof, including an amount sufficient to reimburse Landlord for all overhead and costs, and expenses arising from Landlord’s involvement with such insurance.
Appears in 1 contract
Tenant’s Insurance. TenantTenant shall maintain insurance complying with all of the following:
A. Tenant shall procure pay for and keep in full force and effect, shall at all times during the Term Lease Term, the following:
(1) Comprehensive general liability insurance insuring Tenant against liability for personal injury, bodily injury, death and damage to property occurring within the Leased Premises, or resulting from Tenant’s use or occupancy of this Leasethe Leased Premises or the Common Areas, and at its own cost and expense, procure and continue or resulting from Tenant’s activities in force or about the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basisLeased Premises, with a combined single limit for bodily injury and property damages coverage of not less than Two Million Dollars the amount of Tenant’s Required Liability Coverage ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements as set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks1), including which insurance shall contain a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of “broad form liability” endorsement insuring Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption performance of Tenant’s business equipment obligation to indemnify Landlord as contained in Article 8.2.
(2) Fire and property damage insurance in so-called “fire and extended coverage” form insuring Tenant against loss from physical damage to Tenant’s personal property, inventory, trade fixtures and improvements within the Leased Premises with coverage for the full actual replacement cost thereof:
(3) Pressure vessel insurance, if applicable;
(4) Product liability insurance (including, without limitation, telecommunications equipmentif food and/or beverages are distributed, sold and/or consumed within the Leased Premises, to the extent obtainable, coverage for liability arising out of the distribution, sale or consumption of food and/or beverages (including alcoholic beverages, if applicable) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of at the Leased Premises) for not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Required Liability Coverage (as set forth in Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.1);
Appears in 1 contract
Tenant’s Insurance. TenantTenant shall, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue maintain in force the following insurance coverage: :
(ia) Commercial General Liability Insuranceinsurance, written on an in occurrence basisform, insuring Tenant against any and all liability for injury to or death of a person or persons, and for damage to or destruction of property, occasioned by or arising out of or in connection with a combined single limit the use or occupancy of the Premises or the business operated by Tenant thereon, including products completed operations coverage and personal and advertising injury. Such policies shall include contractual liability coverage for bodily injury and property damages Tenant’s indemnity obligations under this Lease with minimum limits of not less than Two Million Dollars ($2,000,000) per occurrence and liability of at least Three Million Dollars ($3,000,000) each occurrence I Three Million Dollars ($3,000,000) general aggregate (which limits can be satisfied by a combination of a Commercial General Liability and Umbrella/Excess coverage, provided, such Umbrella/Excess coverage must be as broad as the Commercial General Liability policy). Landlord in the annual aggregateits reasonable judgment may require additional coverage or higher limits of liability;
(b) Worker’s compensation and similar insurance offering statutory coverage and containing statutory limits and employer’s liability insurance with policy limits of not less than One Million Dollars ($1,000,000). Such policies shall contain a Waiver of Subrogation endorsement in favor of Landlord and its partners, property manager, and any Security Holders designated by Landlord;
(c) Automobile liability insurance for owned, hired and non-owned automobiles at a limit of liability of One Million Dollars ($1,000,000) each occurrence; and
(d) Special causes of loss (“all risk”) insurance, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsementcoverage, sprinkler leakage coverage covering and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of (i) all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, furniture and equipment and other personal property installed in the Premises by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (ivii) the Tenant-Insured Suite Improvements, naming Landlord and any Security Holders designated by Landlord as loss payees with respect to the Tenant-Insured Suite Improvements. Tenant shall also carry business interruption, loss of income and interruption coverage including extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient in an amount equal to cover a period of interruption of not less than twelve (12) monthsmonths of business income. The minimum limits of insurance set forth in (a) through (c) of this Section 13.1 shall in no event limit the liability of Tenant hereunder. The aforesaid liability insurance shall name Landlord and its partners, property manager, and any Security Holders designated by Landlord, as additional insureds. Such policies will be maintained in companies having a “General Policyholders Rating” of at least A- VIII as set forth in the most current issue of “Best’s Insurance Guide”, and will be written as primary policy coverage and not contributing with, or in excess of, any coverage which Landlord shall carry. Tenant shall carry deposit certificates of such required insurance with Landlord prior to the earlier to occur of (x) the Commencement Date of this Lease, or (y) Tenant’s occupancy of the Premises, which certificates shall contain a provision stating that such policy or policies shall not be canceled except after thirty (30) days’ written notice to Landlord. If Tenant is notified by an insurer that any of the foregoing policies will be materially altered, Tenant shall notify Landlord of such alteration at least thirty (30) days before the effective date thereof. Tenant shall have the right to provide the coverages required herein under blanket policies provided that the coverage afforded shall not be diminished by reason thereof. If Tenant does not take out and maintain during such insurance, Landlord may (but shall not be required to) procure said insurance on Xxxxxx’s behalf and Tenant shall reimburse Landlord within ten (10) days following demand for the entire Term (including any option periodspremiums therefor together with a reasonable handling charge, if applicable)together with interest at the Default Rate from the date such premiums were paid by Landlord. Tenant shall, at Tenant’s sole cost and expenseleast twenty (20) days prior to the expiration of such policies, increased amounts furnish Landlord with evidence of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordrenewals or binders.
Appears in 1 contract
Tenant’s Insurance. Tenant(a) Except as otherwise provided in subsection (b) below, shall Tenant shall, at all times during the Lease Term of this Lease, and at its own Tenant’s sole cost and expense, procure and continue in force the following insurance coverage: maintain, or cause to be maintained:
(i) an “All Risk” Property policy insuring the 100% replacement cost of all of the furniture, trade fixtures and other personal property of Tenant located in the Premises against loss or damage by fire, theft, flood, earthquake (if available at a commercially reasonable premium in the applicable geographic insurance market), terrorism (if available at a commercially reasonable premium in the applicable geographic insurance market) and such other risks or hazards as Landlord may reasonably require.
(ii) Commercial General general public liability and property damage insurance with coverage of not less than $1,000,000.00 per occurrence and $2,000,000 in the aggregate; and Commercial Umbrella or Excess Liability Insurance, written on an “occurrence basis”, with including, without limitation, blanket contractual liability coverage, broad form property damage, independent contractor’s coverage and personal injury coverage, protecting Landlord and Tenant against liability occasioned by an occurrence on or about the Premises or any appurtenances thereto, the minimum limits for this Commercial Umbrella or Excess Liability policy shall be not less than a combined single limit for bodily injury (including death) or personal injury and property damages damage of not less than Two Million Dollars ($2,000,000) 10,000,000 per occurrence and Three Million Dollars $10,000,000 general aggregate.
($3,000,000iii) Workers’ compensation insurance in the annual aggregateamount required by applicable regulations and employers’ liability insurance covering all persons employed by Tenant in connection with any work done on or about the Premises, including products liability coverage if applicableor, owners in lieu of such workers’ compensation insurance, a program of self-insurance complying with the rules, regulations and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant requirements of the indemnity appropriate agency of the Commonwealth of Pennsylvania.
(iv) Comprehensive Boiler and exemption Machinery/Equipment Breakdown Insurance on any of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements equipment on or in the Premises, including but in an amount not limited less than $1,000,000.00 per accident for damage to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication property (and other equipment, systems which may be carried as part of the coverage required under clause (i) above or pursuant to a separate policy or endorsement). Either such Boiler and facilities, Machinery policy or the All Risk policy required in clause (i) above shall include at least $1,000,000.00 per incidence for Off-Premises Service Interruption and $500,000 per incidence for Expediting Expenses.
(Bv) trade fixtures, furniture, equipment and other personal property installed by or Business Income/Extra Expense Insurance for payments of Base Rent at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions limits sufficient to cover 100% of the Base Rent for a period of interruption of not less than twelve (12) monthsmonths from time of loss.
(vi) During any period in which substantial Alterations (as hereinafter defined) at the Premises are being undertaken, builder’s risk insurance covering the total completed value with respect to the improvements being constructed, altered or repaired (on a completed value, non-reporting basis), replacement cost of work performed and equipment, supplies and materials furnished in connection with such construction, alteration or repair of the improvements, together with such other endorsements as Landlord may reasonably require, and general liability, worker’s compensation and automobile liability insurance with respect to the improvements being constructed, altered or repaired.
(vii) Such other insurance (or other or different terms with respect to any insurance required pursuant to this Section 9.1(a), including without limitation amounts of coverage, deductibles, form of mortgagee clause, insurer rating) on or in connection with any of the Premises as Landlord or the mortgagee under any Fee Mortgage may reasonably require, which at the time is usual and customarily obtained in connection with properties similar in type of building size, use and location to the Premises, as applicable; provided that the insurance requirements under this Article 9 shall not be adjusted more frequently than once in any give Lease Year.
(b) The insurance required by Section 9.1(a) above shall be written by companies having a rating from Best’s Insurance Reports of A-/IX or above or a long-term insurer financial strength rating of A- or better by Standard & Poor’s Rating Services, a division of the McGraw Hill Companies, Inc. or equivalent rating agency approved by Landlord and its mortgagee under a Fee Mortgage in their sole, but reasonable, discretion. If said insurance or any part thereof shall expire, be withdrawn, become void, voidable, unreliable or unsafe for any reason, including a breach of any condition thereof by Tenant or the failure or impairment of the capital of any insurer, or if for any other reason whatsoever said insurance shall become reasonably unsatisfactory to Landlord, Tenant shall promptly obtain new or additional insurance reasonably satisfactory to Landlord.
(c) Tenant will use commercially reasonable efforts to provide that each insurance policy referred to in subsections (i), (ii), (iv), (v) and (vi) of Section 9.1(a) above shall contain standard non-contributory mortgagee clauses in favor of the mortgagee under any Fee Mortgage. In addition, Tenant will endeavor to cause its insurance company to provide that each policy required by any provision of Section 9.1(a) above, except subsection (iii) thereof, shall provide that such insurance company shall endeavor to give at least thirty (30) days advanced written notice to Landlord and/or the mortgagee under any Fee Mortgage prior to any cancellation, substantial modification or lapse on any renewal date.
(d) Tenant shall pay, or cause to be paid, as they become due all premiums for the insurance required by Section 9.1(a) above, shall renew or replace each policy and deliver to Landlord certificates of insurance evidencing such coverages. All certificates of insurance (including liability coverage) provided to Landlord and Lender shall be on standard XXXXX Form 28 (or its equivalent, or another commercially reasonable form provided by Tenant).
(e) Anything in this Section 9.1 to the contrary notwithstanding, any insurance which Tenant is required to obtain pursuant to Section 9.1(a) above may be carried under a “blanket” policy or policies covering other properties of Tenant or under an “umbrella” policy or policies covering other liabilities of Tenant, as applicable; provided that, such blanket or umbrella policy or policies otherwise comply with the provisions of this Section 9.1.
(f) Tenant shall not carry separate insurance concurrent in form or contributing in the event of a casualty with that required in this Section 9.1 unless: (i) Landlord and Lender are included therein as named insureds, with loss payable as provided herein; and (ii) such separate insurance complies with the other provisions of this Section 9.1. Tenant shall carry immediately notify Landlord of such separate insurance and maintain during shall deliver to Landlord the entire Term original policies or certified copies thereof.
(including g) The proceeds of any option periodsinsurance required under Section 9.1(a) above shall be payable as follows:
(i) proceeds payable under subsections (iii), (iv) and (v) of Section 9.1(a) and proceeds attributable to the general liability coverage under subsection (vi) of Section 9.1(a) shall be payable to the person entitled to receive such proceeds as set forth under the policy terms and conditions; and
(ii) proceeds attributable to Builder’s Risk insurance (other than its general liability coverage provisions) and proceeds of insurance required under subsection (vi) of Section 9.1(a) shall be payable to Landlord or the mortgagee under any Fee Mortgage and applied as set forth in Section 12 hereof. Such proceeds shall be immediately delivered to Landlord or the mortgagee under any Fee Mortgage, as applicable, if applicable), at paid to Tenant’s sole cost and expense, increased amounts .
(h) Tenant shall furnish Landlord with an appropriate certificate of the effectiveness and coverage of all polices of insurance required to hereunder. In the event that Landlord shall at any time not be carried by Tenant pursuant to this Article 14 in possession of a certificate confirming the then current effectiveness of such insurance, Landlord may obtain such insurance and the premiums on such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may shall be reasonably required by Landlorddeemed Additional Rent payable on demand.
Appears in 1 contract
Samples: Lease Agreement (Griffin Capital Net Lease REIT, Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000S2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Samples: Standard Office Lease (Entropic Communications Inc)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, Insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, Premises and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business telecommunications equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsinterruptions, if commercially available. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant(a) The Tenant shall, shall at all times during its expense, obtain and maintain in force throughout the Term and any Extension Term and any period when it is in possession of this Leasethe Premises, in the name of the Tenant with the Landlord and at its own cost the Mortgagee (if any) as additional named insureds on all property insurance policies, save that the insurance policies referred to in sections 12.2(a)(i) and expense(ii) below shall name the Landlord as the insured with the Mortgagee (if any), procure and continue in force as additional named insured the following insurance coverage: insurance:
(i) Commercial General Liability Insuranceinsurance on the Building and the heating, written on an occurrence basis, with a combined single limit for bodily injury ventilating and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsair conditioning, and personal injury coverageother building equipment, covering machinery and systems, and boilers contained therein whether owned by the insuring provisions of this Lease and Landlord or the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of against those risks covered by standard fire, extended coverage and special extended coverage insurance (“all risks), ” (including a vandalism flood and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided earthquake) property policies in an amount equal to the full replacement value new without deduction thereof with such reasonable deductibles as would be carried by a prudent owner of a reasonably similar industrial building, having regard to size, age and location;
(ii) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for depreciation each accident in an amount of at least the replacement cost of the Premises and of all boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus relating to or serving the Premises;
(Aiii) Tenant Improvementspublic liability insurance written on a comprehensive basis with coverage against third party claims for bodily injury, Alterationsincluding death, fixtures in such amounts as are normally carried by prudent tenants of similar premises from time to time, but in no event less than five million dollars ($5,000,000.00) per occurrence;
(iv) standard owners form vehicle insurance providing third-party liability insurance with not less than three million dollars ($3,000,000.00) inclusive limits, and accident benefits insurance, covering all licensed vehicles owned or operated by or on behalf of the Tenant;
(v) business interruption insurance covering the Annual Base Rent, the Additional Rent and all other improvements costs and expenses in connection with the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover for a period of interruption of not less than twelve (12) monthsmonth period; and
(vi) such other forms of insurance and increases of the amount of coverage stipulated in the foregoing sections against such risks and in such amounts as may be customarily obtained by tenants of premises similar to the Premises and any other forms of reasonable and customary insurance as the Landlord and/or a Mortgagee, reasonably requires from time to time, in forms and amounts and for risks against which a prudent tenant would insure with a use similar to that of the Tenant.
(b) All insurance policies provided for in this section 12.2 shall:
(i) be taken out with insurers licensed to carry on the business of insurance in the Province in which the Premises are located;
(ii) be non-contributing with and apply only as primary and not excess to any other insurance available to either or both of the Landlord and the Mortgagee;
(iii) not be invalidated as respects the interests of all and any of the Landlord and the Mortgagee by reason of a breach or violation of warranties, representations declarations or conditions contained in the policies; and
(iv) contain an undertaking by the insurers to notify the Landlord and its Mortgagee in writing not less than thirty (30) days before any material change, cancellation, or termination. The Tenant shall carry may satisfy the foregoing insurance requirements by carrying blanket insurance policies and maintain during the entire Term through one or more insurance policies.
(including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts c) The proceeds of the insurance under Sections 12.2(a)(a)(i) and 12.2(a)(a)(ii) above shall be and are hereby assigned and made payable to the Landlord.
(d) If the Tenant shall fail to take out, renew and keep in force such insurance the Landlord may do so as the agent of the Tenant and the Tenant shall repay to the Landlord any amounts paid by the Landlord as premiums forthwith upon demand.
(e) The Tenant shall furnish to the Landlord certificates or other evidence acceptable to the Landlord as to the insurance from time to time required to be carried effected by the Tenant pursuant to this Article 14 Lease and such other reasonable types its renewal or continuation in force. No review or approval of any insurance coverage and in such reasonable amounts covering certificate or insurance policy by the Premises and TenantLandlord derogates from or diminishes the Landlord’s operations therein, as may be reasonably required by Landlordrights under this Lease.
Appears in 1 contract
Samples: Industrial Lease (Bway Corp)
Tenant’s Insurance. TenantThe Tenant shall, shall at all times its expense, maintain in force during the Term and any other period of this Leaseoccupation (if any), in the name of the Tenant (with the Landlord, the Landlord's property manager and/or asset manager and at its own cost and expensethe Landlord's mortgagee, procure and continue in force if any, added as additional insureds) the following insurance:
(a) comprehensive general liability insurance coverage: against claims for personal injury, death or property damage (iincluding but not limited to tenants' legal liability, personal injury liability, products liability, property damage and contractual liability to cover all indemnities) Commercial General Liability Insurancewith respect to the business or operations carried on in and from the Leased Premises, written on an occurrence basis, with a combined single limit for bodily injury in amounts required by the Landlord and property damages any mortgagee of not the Building or any part thereof from time to time but in no event less than Two Five Million Dollars ($2,000,0005,000,000.00) per occurrence occurrence;
(b) insurance covering all contents of the Leased Premises and Three Million Dollars ($3,000,000) in all other property for which the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of Tenant is responsible pursuant to this Lease and the performance of Tenant and/or which has been installed by or on behalf of the indemnity Tenant (including without limitation all chattels, equipment, machinery, furniture, inventory, fixtures and exemption of Landlord from liability agreements set forth in Article 13 hereof; (iiall Leasehold Improvements) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction thereof;
(c) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements each accident in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption amount of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole replacement cost and expense, increased amounts of the Leased Premises and all Leasehold Improvements and of all boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus in the Leased Premises;
(d) business interruption insurance required in such amounts as will reimburse the Tenant for direct or indirect loss of earnings including continuing and extra expenses attributable to be carried all perils insured against by the Tenant pursuant to this Article 14 and hereunder; and
(e) such other reasonable types forms of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by the Landlord and its mortgagee from time to time. All policies required to be written on behalf of the Tenant pursuant to this Section shall contain the Landlord's mortgagee's standard mortgage clause as applicable, and shall contain a waiver of any subrogation rights which the Tenant's insurers may have against the Landlord and against those for whom the Landlord is in law responsible, whether any such damage is caused by the act, omission or negligence of the Landlord or those for whom the Landlord is in law responsible. All policies will have reasonable deductibles and will be primary and not call into contribution or be in excess of any other insurance available to the Landlord or any additional insureds. All policies shall be taken out with insurers acceptable to the Landlord and shall be in a form satisfactory from time to time to the Landlord. The Tenant agrees that certificates of insurance on the Landlord's standard form or if required by the Landlord or the Landlord's mortgagee certified copies of each such insurance policy will be delivered to the Landlord immediately after the placing, removal, amendment or extension of the required insurance. All policies shall contain an undertaking by the insurers to notify the Landlord and the Landlord's mortgagee in writing not less than thirty (30) days prior to any material change, cancellation or termination thereof. The Tenant agrees that if the Tenant fails to take out or keep in force any such insurance referred to in this Section, or should any such insurance not be approved by either the Landlord or the Landlord's mortgagee and should the Tenant not rectify the situation immediately after written notice by the Landlord to the Tenant, the Landlord has the right without assuming any obligation in connection therewith to effect such insurance at the sole cost of the Tenant and all outlays by the Landlord shall be immediately paid by the Tenant to the Landlord as Additional Rent without prejudice to any other rights and remedies of the Landlord under this Lease.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) per occurrence and Five Million Dollars ($5,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant(a) Tenant shall, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure obtain and continue maintain in full force and effect at all times with respect to the following Premises insurance coverage: throughout the Term and any extension and or renewal thereof (and such other times, if any, as Tenant occupies the Premises) which coverage shall include the following:
(i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit commercial general liability insurance for bodily injury and property damages damage including the following extensions: owners and contractors protective; pollution coverage with hostile fire coverage only; products and completed operations; personal injury; occurrence basis property coverage; blanket contractual; non-owned automobile liability; severability of interests; cross liability; and employer’s liability, all on an occurrence basis with coverage for any one occurrence or claim of not less than Two Five Million Dollars ($2,000,0005,000,000.00) Dollars per occurrence occurrence;
(ii) “all risks” property insurance covering the Leasehold Improvements, and Three Million Dollars ($3,000,000) all other property of every description, nature and kind owned by Tenant or for which Tenant is legally liable, which is installed, located or situate in or about the Premises or elsewhere in the annual aggregateProject, including products liability coverage without limitation, trade fixtures, furnishings, equipment, all inventory or stock in trade and all signs in, on or about the Premises, for not less than the full replacement cost thereof and shall include a stated amount co-insurance clause and a breach of conditions clause;
(iii) if applicable, owners broad form comprehensive boiler and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering machinery insurance on all insurable objects located on the insuring provisions Premises or which are the property or responsibility of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks)Tenant, including a vandalism and malicious mischief repair or replacement endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and ;
(iv) business interruptioninterruption insurance, including extra expense insurance, either as an extension to or on the same form as the insurance referred to in subsections 13.3(a)(ii) and 13.3(a)(iii) above, and in such amounts from time to time as necessary to fully compensate Tenant for direct or indirect loss of income sales or earnings and extra expense expenses incurred resulting from or attributable to any of the perils required to be insured against under the policies referred to in subsections 13.3(a)(ii) and 13.3(a)(iii) above and all circumstances usually insured against by prudent tenants including losses resulting from interference with or prevention of access to the Premises or the Project as a result of such perils or for any other reason;
(v) plate glass insurance covering on all internal and external glass within, fronting or forming part of the Premises; however notwithstanding the foregoing, Tenant may elect to self insure for the insurance described in this 13.3(a)(v); and
(vi) any failure other insurance against such risks and in such form and amounts as Landlord may from time to time reasonably require upon not less than thirty (30) days’ written notice, provided Landlord agrees it shall not require Tenant to maintain additional insurance coverage unless such additional insurance coverage has become generally accepted insurance, generally maintained by comparable tenants or interruption is required as a result of the particular nature of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordoperations.
Appears in 1 contract
Tenant’s Insurance. TenantTenant shall, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and for written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve six (126) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord; provided, however, in no event shall Landlord have the right to request any increased insurance amounts or additional coverages more than once every three (3) years during the Term.
Appears in 1 contract
Tenant’s Insurance. TenantCommencing the date Tenant is required to provide Landlord with the certificate of insurance, shall at all times during the Term of this Leaseas provided below, and continuing until the expiration or earlier termination of the Lease Term, Tenant shall carry and maintain at its own cost and expense, procure and continue in force expense the following insurance coveragecoverages with insurance companies reasonably acceptable to Landlord with a rating of A- or better by A.M. Best Company: (i) Commercial General Liability Insurance, (CGL) Policy (written on an occurrence basis), with a limits not less than One Million Dollars ($1,000,000) combined single limit for bodily per occurrence, Two Million Dollar ($2,000,000) annual aggregate covering liability arising from premises, operations, independent contractors, products-completed operations, personal injury, advertising injury and liability assumed under a contract; (ii) Property Damage Insurance on a Causes of Loss-Special Form basis covering on a replacement cost value all Above Standard improvements, fixtures, personal property damages and equipment located within the Premises; (iii) Business Interruption and Extra Expense insurance in such amounts as will reimburse Tenant for direct or indirect loss of earnings attributable to the perils insured against under this section; (iv) Workers’ Compensation insurance policy as required by the applicable state law, and Employers Liability insurance with limits of not less than Two One Million Dollars ($2,000,0001,000,000.00); (v) per occurrence and Three Automobile Liability insurance with single limit coverage of at least $1,000,000 for all owned, leased/hired or non-owned vehicles; (vi) If Tenant will serve or sell alcohol at the Project, a liquor liability insurance policy with minimum coverage of One Million Dollars ($3,000,0001,000,000.00); and (vii) in the annual aggregate, including products Excess/Umbrella liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions policy “following form” of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; not less than Four Million Dollars (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks$4,000,000), including a vandalism “drop down” feature in case the limits of the primary policy are exhausted. Landlord may also require all Outside Contractors to provide additional types of insurance coverages in amounts and malicious mischief endorsementtypes deemed necessary by Landlord, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipmentconstruction All-Risk Builder’s risks, Owners and Contractors Protective (OCP) Liability insurance, Professional Errors and Omissions liability insurance, and insurance covering all other perilssuch contractor’s equipment and tools. Each Liability insurance policy required to be maintained hereunder by Tenant shall name the following entities as Additional Insureds: Landlord, failures Parkway Properties, Inc., Parkway Realty Services, LLC, and their direct and indirect parent companies and subsidiaries and any of their affiliated entities, successors and assigns, as well as their respective current or interruptions sufficient future directors, officers, employees, partners, members and agents. Tenant’s insurance shall be considered primary, not excess, and non-contributory with Landlord’s insurance policies. Insurance deductibles or retentions should be reasonable and customary for policy holders in similar businesses and locations. An XXXXX 25 certificate of such insurance in the most recent edition available and reasonably satisfactory to cover a period Landlord, before the earlier of interruption the Commencement Date or ten (10) days after execution of the Lease, reflecting the limits and endorsements required herein, and renewal certificates shall be delivered to Landlord at least ten (10) days prior to the expiration date of any policy. Each policy shall be endorsed to provide notice of nonrenewal to Landlord and shall further provide that it may not less than twelve be materially altered or canceled without thirty (1230) monthsdays prior notice to Landlord. Landlord agrees to cooperate with Tenant to the extent reasonably requested by Tenant to enable Tenant to obtain such insurance. Landlord shall have the right to require increased limits if, in Landlord’s reasonable judgment, such increase is necessary. Tenant shall carry pay all premiums and maintain during the entire Term (including any option periodscharges for all of said policies, and, if applicable)Tenant shall fail to make any such payment when due or carry any such policy, Landlord may, but shall not be obligated to, make such payment or carry such policy, and the amount paid by Landlord, with interest thereon at Tenant’s sole cost and expensethe Default Rate, increased amounts of the insurance required shall be repaid to be carried Landlord by Tenant pursuant within ten (10) days following demand therefor, and all such amounts so repayable, together with such interest, shall be deemed to constitute additional Rent hereunder. Payment by Landlord of any such premium, or the carrying by Landlord of any such policy, shall not be deemed to waive or release Tenant from any remedy available to Landlord under this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordLease.
Appears in 1 contract
Tenant’s Insurance. Tenant(a) The Tenant shall, shall at all times during its expense, obtain and maintain in force throughout the Term and any Extension Term and any period when it is in possession of this Leasethe Premises, in the name of the Tenant with the Landlord and at its own cost the Mortgagee (if any) as additional named insureds on all property insurance policies, save that the insurance policies referred to in sections 12.2(a)(i) and expense(ii) below shall name the Landlord as the insured with the Mortgagee (if any), procure and continue in force as additional named insured the following insurance coverage: insurance:
(i) Commercial General Liability Insuranceinsurance on the Building and the heating, written on an occurrence basis, with a combined single limit for bodily injury ventilating and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsair conditioning, and personal injury coverageother building equipment, covering machinery and systems, and boilers contained therein whether owned by the insuring provisions of this Lease and Landlord or the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of against those risks covered by standard fire, extended coverage and special extended coverage insurance (“all risks), ” (including a vandalism flood and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided earthquake) property policies in an amount equal to the full replacement value new without deduction thereof with such reasonable deductibles as would be carried by a prudent owner of a reasonably similar industrial building, having regard to size, age and location;
(ii) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for depreciation each accident in an amount of at least the replacement cost of the Premises and of all boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus relating to or serving the Premises;
(Aiii) Tenant Improvementspublic liability insurance written on a comprehensive basis with coverage against third party claims for bodily injury, Alterationsincluding death, fixtures in such amounts as are normally carried by prudent tenants of similar premises from time to time, but in no event less than five million dollars ($5,000,000.00) per occurrence;
(iv) standard owners form vehicle insurance providing third-party liability insurance with not less than three million dollars ($3,000,000.00) inclusive limits, and accident benefits insurance, covering all licensed vehicles owned or operated by or on behalf of the Tenant;
(v) business interruption insurance covering the Annual Base Rent, the Additional Rent and all other improvements costs and expenses in connection with the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover for a period of interruption of not less than twelve (12) monthsmonth period; and
(vi) such other forms of insurance and increases of the amount of coverage stipulated in the foregoing sections against such risks and in such amounts as may be customarily obtained by tenants of premises similar to the Premises and any other forms of reasonable and customary insurance as the Landlord and/or a Mortgagee, reasonably requires from time to time, in forms and amounts and for risks against which a prudent tenant would insure with a use similar to that of the Tenant.
(b) All insurance policies provided for in this section 12.2 shall:
(i) be taken out with insurers licensed to carry on the business of insurance in the Province in which the Premises are located;
(ii) be non-contributing with and apply only as primary and not excess to any other insurance available to either or both of the Landlord and the Mortgagee;
(iii) not be invalidated as respects the interests of all and any of the Landlord and the Mortgagee by reason of a breach or violation of warranties, representations declarations or conditions contained in the policies; and
(iv) contain an undertaking by the insurers to notify the Landlord and its Mortgagee in writing not less than thirty (30) days before any material change, cancellation, or termination. The Tenant shall carry may satisfy the foregoing insurance requirements by carrying blanket insurance policies and maintain during the entire Term through one or more insurance policies.
(including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts c) The proceeds of the insurance under Sections 12.2(a)(i) and 12.2(a)(i)(a)(ii) above shall be and are hereby assigned and made payable to the Landlord.
(d) If the Tenant shall fail to take out, renew and keep in force such insurance the Landlord may do so as the agent of the Tenant and the Tenant shall repay to the Landlord any amounts paid by the Landlord as premiums forthwith upon demand.
(e) The Tenant shall furnish to the Landlord certificates or other evidence acceptable to the Landlord as to the insurance from time to time required to be carried effected by the Tenant pursuant to this Article 14 Lease and such other reasonable types its renewal or continuation in force. No review or approval of any insurance coverage and in such reasonable amounts covering certificate or insurance policy by the Premises and TenantLandlord derogates from or diminishes the Landlord’s operations therein, as may be reasonably required by Landlordrights under this Lease.
Appears in 1 contract
Samples: Industrial Lease (Bway Corp)
Tenant’s Insurance. Tenant(a) The Tenant shall, shall at all times during its expense, obtain and maintain in force throughout the Term and any Extension Term and any period when it is in possession of this Leasethe Premises, in the name of the Tenant with the Landlord and at its own cost the Mortgagee (if any) as additional named insureds on all property insurance policies, save that the insurance policies referred to in sections 12.2(a)(i) and expense(ii) below shall name the Landlord as the insured with the Mortgagee (if any), procure and continue in force as additional named insured the following insurance coverage: insurance:
(i) Commercial General Liability Insuranceinsurance on the Building and the heating, written on an occurrence basis, with a combined single limit for bodily injury ventilating and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsair conditioning, and personal injury coverageother building equipment, covering machinery and systems, and boilers contained therein whether owned by the insuring provisions of this Lease and Landlord or the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of against those risks covered by standard fire, extended coverage and special extended coverage insurance (“all risks), ” (including a vandalism flood and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided earthquake) property policies in an amount equal to the full replacement value new without deduction thereof with such reasonable deductibles as would be carried by a prudent owner of a reasonably similar industrial building, having regard to size, age and location;
(ii) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for depreciation each accident in an amount of at least the replacement cost of the Premises and of all boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus relating to or serving the Premises;
(Aiii) Tenant Improvementspublic liability insurance written on a comprehensive basis with coverage against third party claims for bodily injury, Alterationsincluding death, fixtures in such amounts as are normally carried by prudent tenants of similar premises from time to time, but in no event less than five million dollars ($5,000,000.00) per occurrence;
(iv) standard owners form vehicle insurance providing third-party liability insurance with not less than three million dollars ($3,000,000.00) inclusive limits, and accident benefits insurance, covering all licensed vehicles owned or operated by or on behalf of the Tenant;
(v) business interruption insurance covering the Annual Base Rent, the Additional Rent and all other improvements costs and expenses in connection with the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover for a period of interruption of not less than twelve (12) monthsmonth period; and
(vi) such other forms of insurance and increases of the amount of coverage stipulated in the foregoing sections against such risks and in such amounts as may be customarily obtained by tenants of premises similar to the Premises and any other forms of reasonable and customary insurance as the Landlord and/or a Mortgagee, reasonably requires from time to time, in forms and amounts and for risks against which a prudent tenant would insure with a use similar to that of the Tenant.
(b) All insurance policies provided for in this section 12.2 shall:
(i) be taken out with insurers licenced to carry on the business of insurance in the Province in which the Premises are located;
(ii) be non-contributing with and apply only as primary and not excess to any other insurance available to either or both of the Landlord and the Mortgagee;
(iii) not be invalidated as respects the interests of all and any of the Landlord and the Mortgagee by reason of a breach or violation of warranties, representations declarations or conditions contained in the policies; and
(iv) contain an undertaking by the insurers to notify the Landlord and its Mortgagee in writing not less than thirty (30) days before any material change, cancellation, or termination. The Tenant shall carry may satisfy the foregoing insurance requirements by carrying blanket insurance policies and maintain during the entire Term through one or more insurance policies.
(including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts c) The proceeds of the insurance under Sections 12.2(a)(i) and 12.2(a)(ii) above shall be and are hereby assigned and made payable to the Landlord.
(d) If the Tenant shall fail to take out, renew and keep in force such insurance the Landlord may do so as the agent of the Tenant and the Tenant shall repay to the Landlord any amounts paid by the Landlord as premiums forthwith upon demand.
(e) The Tenant shall furnish to the Landlord certificates or other evidence acceptable to the Landlord as to the insurance from time to time required to be carried effected by the Tenant pursuant to this Article 14 Lease and such other reasonable types its renewal or continuation in force. No review or approval of any insurance coverage and in such reasonable amounts covering certificate or insurance policy by the Premises and TenantLandlord derogates from or diminishes the Landlord’s operations therein, as may be reasonably required by Landlordrights under this Lease.
Appears in 1 contract
Samples: Industrial Lease (Bway Corp)
Tenant’s Insurance. TenantTenant shall maintain, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, coverages with a combined single limit for bodily injury and property damages limits of not less than Two Million Dollars the greater of ($2,000,000i) per occurrence and Three Million Dollars those set forth hereunder, ($3,000,000ii) in those evidenced on the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsdeclaration page of the pertinent insurance policy, and personal injury coverage(iii) those required by law.
10.3.1 Commercial General Liability Insurance issued on terms no less broad than the most current ISO CG 00 01 occurrence form, covering the insuring provisions insured against claims of this Lease bodily injury, personal and advertising injury and property damage (including loss of use thereof) arising out of Tenant’s operations, products/completed operations, social or host liquor liability (if applicable), and “insured contracts” (as defined by the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksmost current ISO CG 00 01 form), including a vandalism Separation of Insureds provision with no exclusion for cross-liability, and malicious mischief endorsementincluding the Additional Insureds (as defined hereunder) as additional insureds with respect to both ongoing and completed operations coverage on a primary and non-contributory basis, sprinkler leakage coverage for limits of liability of not less than: Bodily Injury and earthquake sprinkler leakage where sprinklers are provided Property Damage Liability $2,000,000 each occurrence $3,000,000 annual aggregate per location Personal Injury Liability $2,000,000 personal and advertising injury $3,000,000 products-completed operations No deductible or self-insured retention.
10.3.2 Property Insurance covering (i) all office furniture, business and trade fixtures, office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s property on the Premises installed by, for, or at the expense of Tenant, and (ii) the Tenant Improvements described in Exhibit 1.1.1-2 and any other tenant improvements that exist in the Premises as of the Lease Commencement Date (the “New Improvements”). Such insurance shall be written on an amount equal to “all risks” of physical loss or damage basis, for the full replacement cost value (subject to reasonable deductible amounts) new without deduction for depreciation of all (A) Tenant Improvementsthe covered items and in amounts that meet any co-insurance clauses of the policies of insurance and shall include coverage for damage or other loss caused by fire or other peril including, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanicalto, plumbinghail, heatingwindstorm, ventilatingflood, air conditioningearthquake, electricalterrorism, telecommunication vandalism and other equipmentmalicious mischief, systems and facilitiestheft, water damage of any type, including sprinkler leakage, earthquake sprinkler leakage, bursting or stoppage of pipes, and explosion.
10.3.3 Business Income Interruption for one (B1) trade fixtures, furniture, equipment and other personal property installed by year plus Extra Expense insurance in such amounts as will reimburse Tenant for actual direct or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, indirect loss of income earnings and extra expense insurance continuing expenses, including rent, attributable to the risks outlined in Section 10.3.2 above.
10.3.4 Auto Liability Insurance covering liability arising out of any failure or interruption of Tenant’s business equipment auto, including owned (includingif any), without limitationnon-owned, telecommunications equipment) leased, and covering all other perilshired autos, failures or interruptions sufficient to cover with a period of interruption limit of not less than twelve (12) months. Tenant shall carry $1,000,000 combined single limit each accident for bodily injury and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordproperty damage.
Appears in 1 contract
Samples: Lease (Conatus Pharmaceuticals Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregateaggregate (which may be satisfied, in part, by umbrella coverage), including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereofhereof (to the extent such indemnification obligations are covered under a standard Commercial General Liability policy); (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, and sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; and (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Samples: Standard Office Lease (Coinstar Inc)
Tenant’s Insurance. Tenant, shall at all times during On or before the Term of this LeaseCommencement Date, and continuing throughout the entire Term hereof and any other period of occupancy, Tenant agrees to keep in full force and effect, at its own sole cost and expense, procure and continue in force the following insurance coverage: insurance:
(i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal Insurance against physical loss or damage to the full replacement value new without deduction for depreciation Premises and any office furniture, trade fixtures, office equipment, merchandise and all other items of all (A) Tenant Improvements, Alterations, fixtures and other improvements in Tenant’s property on the Premises, as provided under a special form property insurance policy including but not limited to all mechanicalflood, plumbing, heating, ventilating, air conditioning, electrical, telecommunication (if the Premises is in a flood zone) and other earthquake coverage in amounts not less than the actual replacement cost of the Premises and any equipment, systems except that for earthquake and facilitiesflood coverage, the amount shall be not less than $5,000,000. Such policies shall contain a replacement cost endorsement, an agreed amount endorsement deleting any co-insurance provisions, a law and ordinance endorsement, and shall contain deductibles not more than $50,000 per occurrence, except for earthquake and flood insurance, for which the deductible shall be not more than $100,000 per occurrence.
(Bii) trade fixtures, furniture, Comprehensive boiler and machinery and equipment breakdown insurance on any of the machinery and equipment on a full replacement cost basis on or in the Premises. The insurance required under this Subparagraph 19(a)(ii) can be covered under a blanket umbrella insurance policy so long as the Premises (and coverage limits) are separately specified on such policy and the coverage afforded thereby is not diminished or reduced by losses relating to other personal property installed properties covered by or at the expense of Tenant; such policy.
(iii) Business income/interruption insurance to include loss of business interruption at limits sufficient to cover 100% of the annual revenues minus any non-fixed expenses payable by Tenant to Landlord with a period of indemnity not less than eighteen (18) months from time of loss.
(iv) During any period in which substantial alterations at the Premises are being undertaken, builder’s risk insurance covering the total completed value including any “soft costs” with respect to the Improvements being altered or repaired (on a completed value, non-reporting basis), replacement cost of work performed and equipment, supplies and materials furnished in connection with such construction or repair of the Premises, together with such “soft cost” endorsements and such other endorsements as Landlord may require and general liability, worker’s compensation and automobile liability insurance with respect to the improvements being constructed, altered or repaired.
(v) Commercial general liability insurance (including but not limited to liquor liability if liquor will be sold or distributed on the Premises) and business automobile liability insurance (including owned, non-owned and hired automobile liability) against claims for personal and bodily injury, death or property damage occurring on, in or as a result of the use of the Premises, in an amount not less than $10,000,000 per occurrence/annual aggregate and all other coverage extensions that are usual and customary for properties of this size and type.
(vi) Worker’s compensation insurance covering all persons employed by Tenant in connection with any work done on or about any of the Premises for which claims for death, disease or bodily injury may be asserted against Landlord, Tenant or the Premises or, in lieu of such Worker’s Compensation coverage as required by law; Insurance, a program of self-insurance complying with the rules, regulations and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts requirements of the appropriate agency of the State of Colorado.
(vii) Such other insurance (or other terms with respect to any insurance required to be carried by Tenant pursuant to this Article 14 Paragraph 19, including without limitation amounts of coverage, deductibles, and such other reasonable types form of insurance coverage mortgagee clause) as Landlord may reasonably require, which at the time is usual and commonly obtained in such reasonable amounts covering connection with properties similar in type of building size, use and location to the Premises and Tenant’s operations therein, as may be reasonably required by LandlordPremises.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure commencing on the Possession Date and continue continuing during the Term, shall procure, pay for and keep in full force and effect the following types of insurance, in at least the amounts and in the forms specified below:
(a) Comprehensive or commercial general liability insurance coverage: with coverage limits of not less than One Million Dollars (i$1,000,000.00) Commercial General Liability Insurance, written on an per occurrence basis, with a and Two Million Dollars ($2,000,000.00) in the aggregate for combined single limit for bodily injury injury, personal injury, death and property damages damage liability per occurrence or the limit carried by Tenant, whichever is greater, insuring against any and all liability of the insureds with respect to the Premises or arising out of the maintenance, use or occupancy of the Premises or related to the exercise of any rights of Tenant pursuant to this Lease, subject to increases in amount as Landlord may reasonably require from time to time. All such liability insurance shall specifically insure the performance by Tenant of the indemnity agreement as to liability for injury to or death of persons and injury or damage to property set forth in Section 13.5. Further, all such liability insurance shall include, but not be limited to, personal injury, blanket contractual, cross-liability and severability of interest clauses, broad form property damage, independent contractors, owned, non-owned and hired vehicles and, if alcoholic beverages are served, sold, consumed or obtained in the Premises, liquor law liability.
(b) Worker’s compensation coverage in an amount adequate to comply with law, and employer’s liability coverage with a limit of not less than Two One Million Dollars ($2,000,0001,000,000.00).
(c) per occurrence and Three Million Dollars ($3,000,000) in Plate glass insurance covering all plate glass on the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the Premises at full replacement value new without deduction for depreciation value. Tenant shall have the option either to insure this risk or to self-insure.
(d) Insurance covering all of Tenant’s Work, Tenant’s leasehold improvements and Alterations permitted under Article 10 and all (A) Tenant Improvementsfurniture, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by located in or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruptionPremises, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of in an amount not less than twelve (12) months. Tenant shall carry their full replacement value from time to time, including replacement cost endorsement, providing protection against any peril included within the classification Fire and maintain during the entire Term (including any option periodsExtended Coverage, if applicable)sprinkler damage, at Tenant’s sole cost and expensevandalism, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 theft, burglary, malicious mischief, earthquake and such other reasonable types additional perils as covered in a “special form causes of loss” or an “all risks” standard insurance coverage policy or as Landlord may reasonably require. Any policy proceeds shall be used for the repair or replacement of the property damaged or destroyed unless this Lease shall cease and in such reasonable amounts covering terminate under the Premises and Tenant’s operations therein, as may be reasonably required by Landlordprovisions of Article 14.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times Tenant’s expense, agrees to maintain in force, with a company or companies reasonably acceptable to Landlord, during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverageTerm: (ia) Commercial General Liability Insurance, written Insurance on a primary basis and without any right of contribution from any insurance carried by Landlord covering the Premises on an occurrence basisbasis against all claims for personal injury, with bodily injury, death and property damage, including contractual liability covering the indemnification provisions in this Lease. Such insurance shall be for such limits that are reasonably required by Landlord from time to time but not less than a combined single limit of Five Million and No/100 Dollars ($5,000,000.00); (b) Workers’ Compensation in statutory required amounts and Employers’ Liability Insurance for bodily injury and property damages an amount of not less than Two One Million and No/100 Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) 1,000,000.00), both in accordance with the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant laws of the indemnity and exemption State of Landlord from liability agreements set forth in Article 13 hereofFlorida; (iic) a policy of standard fire, extended coverage and special extended coverage “All Risks” property insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal adequate to cover the full replacement value new without deduction for depreciation cost of all (A) Tenant Improvementsequipment, Alterationsinstallations, fixtures and other improvements contents of the Premises in the event of loss and any such policy shall contain a provision requiring the insurance carriers to waive their rights of subrogation against Landlord; (d) In the event a motor vehicle is to be used by Tenant in connection with its business operation from the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation Comprehensive Automobile Liability Insurance coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption with limits of not less than twelve Three Million and No/100 Dollars (12$3,000,000.00) months. Tenant shall carry combined single limit coverage against bodily injury liability and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts property damage liability arising out of the insurance required to be carried use by Tenant pursuant to or on behalf of Tenant, its agents and employees in connection with this Article 14 Lease, of any owned, non-owned or hired motor vehicles; and (e) such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be or coverages reasonably required by Landlord, provided such insurance or coverages are (i) customarily required by other landlords of Class A buildings in the Westshore Business District comparable to the Building and (ii) commercially available and customarily carried by companies similar to Tenant in terms of size, industry, and creditworthiness.
Appears in 1 contract
Samples: Lease Agreement (PBSJ Corp /Fl/)
Tenant’s Insurance. TenantDuring the Term, shall at all times during the Term of this Lease, Tenant will provide and at its own cost and expense, procure and continue keep in force the following insurance:
(a) commercial general liability insurance coverage: relating to Tenant’s business (icarried on, in or from the Premises or Common Areas) Commercial General Liability Insuranceand Tenant’s use and occupancy of the Premises, written on an occurrence basisfor personal and bodily injury and death, and damage to others’ property, with limits of not less than $1,000,000 for any one accident or occurrence and a general aggregate limit of not less than $2,000,000;
(b) all risk or fire insurance (including standard extended endorsement perils, leakage from fire protective devices and other water damage) relating to Tenant’s fixtures, furnishings, personal property, equipment, 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;
(c) if any boiler or machinery is operated in the Premises, boiler and machinery insurance;
(d) if Tenant operates owned, hired or non-owned vehicles on the Premises, automobile liability insurance with limits of not less than $1,000,000 combined single limit for bodily injury and property damages of not less than Two Million Dollars damage; and
($2,000,000e) per occurrence workers’ compensation and Three Million Dollars employer’s liability insurance in any amounts required to comply with applicable Laws. Landlord, Landlord’s property manager ($3,000,000) if any), and any Lender will be named as additional insureds in the annual aggregatepolicy described in Section 9.2(a), including products which will include cross liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral severability of interests clauses and written contracts, will be on an “occurrence” (and personal injury coverage, covering not a “claims made”) form. The policies described in Sections 9.2(b) and 9.2(c) will permit the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption release of Landlord from certain liability agreements set forth under Section 11.2. Tenant’s insurance policies will be written by insurers that are rated A IX or better by Best’s Rating Guide and licensed in Article 13 hereof; (ii) a policy of standard firethe state in which the Building is located will be written as primary policies, extended not contributing with and not supplemental to the coverage that Landlord may carry, and special extended coverage insurance (all risks)will otherwise be upon such terms and conditions as Landlord from time to time reasonably requires, including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of limits on Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsdeductibles. Tenant shall carry will file with Landlord, on or before the Commencement Date and maintain during at least 10 days before the entire Term (including any option periodsexpiration date of expiring policies, if applicable)such copies of either current policies or certificates, at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such or other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinproofs, as may be reasonably required to establish Tenant’s insurance coverage in effect from time to time and payment of premiums. Tenant’s insurers will agree to give Landlord and all other additional insureds at least 30 days’ prior notice of any non-renewal, and at least 10 days’ prior notice of any cancellation, of any insurance coverage required by this Section 9.2. If Tenant fails to insure or pay premiums, or to file satisfactory proof as required, Landlord may, upon a minimum of 24 hours’ notice, effect such insurance and Tenant will pay to Landlord, on demand, the cost of any premiums paid by Landlord. Tenant shall be entitled to maintain an umbrella policy covering all of Tenant’s assets.
Appears in 1 contract
Samples: Lease Agreement (Solid Power, Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this LeaseLease commencing on the Rent Commencement Date, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than One Million Dollars ($1,000,000) per occurrence and Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, with a Five Million Dollar ($5,000,000) umbrella coverage policy, including products liability coverage if applicable, owners and contractors protective coverage during the construction of any improvements or Alterations only, host liquor liability coverage, blanket and limited contractual liability coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereofLease; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksspecial form), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Original Improvements (not including main or Building core systems that are designed to serve other portions of the Building other than the Premises), Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) to the extent not already covered under the preceding clause (A), trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as with statutory limits required by lawthe state law and Employer's Liability Insurance of $1,000,000, and scheduled to the umbrella/excess liability insurance policy; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, including telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve three (123) months; and (v) commercial auto liability insurance (if applicable) covering automobiles owned, hired or used by Tenant in carrying on its business with limits not less than $1,000,000 combined single limit for each accident, and scheduled to the umbrella/excess liability insurance policy. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by LandlordLandlord and which are consistent with the practices of landlords of Comparable Buildings.
Appears in 1 contract
Tenant’s Insurance. At all times on and after delivery of the Premises to Tenant, shall Tenant will carry and maintain, at all times during the Term of its expense:
(a) a non-deductible commercial general liability insurance policy, including (but not limited to) insurance against assumed or contractual liability under this Lease, with respect to liability arising out of the ownership, use, occupancy or maintenance of the Premises and at its own cost and expenseall areas appurtenant thereto, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insuranceto afford protection with respect to personal injury, written on an occurrence basis, with a combined single limit for bodily injury and death or property damages damage of not less than Two Million Dollars ($2,000,000) per occurrence and Three combined single limit/Four Million Dollars ($3,000,0004,000,000) general aggregate (but not less than $2,000,000 per location aggregate); and
(b) special form property and casualty insurance policy, including theft coverage, written at not less than eighty percent (80%) replacement cost value covering all of Tenant's personal property in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment Premises (including, without limitation, telecommunications equipmentinventory, trade fixtures, furniture and other property removable by Tenant under the provisions of this Lease) and covering all other perilsleasehold improvements installed in the Premises by or on behalf of Tenant, failures or interruptions sufficient to cover which policy may have a period of interruption deductible of not less more than twelve $25,000; and
(12c) months. Tenant shall carry comprehensive boiler and maintain during the entire Term (machinery equipment policy, including any option periodselectrical apparatus, if applicable), at Tenant’s sole cost which policy may have a deductible of not more than $25,000; and
(d) if and expenseto the extent required by law, increased worker's compensation insurance policy, or similar insurance in form and amounts required by law. Tenant may maintain the required liability and special form property and casualty insurance in the form of a blanket policy covering other locations of Tenant in addition to the Premises; provided, however, that Tenant shall provide Landlord with a certificate of insurance specifically naming the location of the insurance required Premises, the limits of which coverage are to be carried at least in the amounts set forth in this Section 13.3. Notwithstanding the foregoing, Tenant may carry the required special form property and casualty insurance in a deductible form and may elect to self-insure such deductible, so long as the amount of such deductible does not exceed Five Thousand and 00/100 Dollars ($5,000.00) and Tenant agrees not to hold Landlord, its officers, agents, contractors or employees liable for any losses which would otherwise be covered by such deductible. Tenant pursuant to this Article 14 and such other reasonable types hereby expressly waives all right of recovery against Landlord, its officers, agents, employees or contractors for damage which would otherwise be covered by any deductible contained in Tenant's insurance coverage and in such reasonable amounts policies covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordPremises.
Appears in 1 contract
Tenant’s Insurance. (a) The Tenant will maintain the insurance described below throughout the Term and any period when it is in possession of the Premises (including, for greater certainty, the Fixturing Period), and each policy of that Insurance will name, as insured’s, the Tenant, shall at all times during the Term of this LeaseLandlord, the Owners and at its own cost and expense, procure and continue in force the following Mortgagee as their respective interests may appear. The insurance coverage: which the Tenant is required to maintain is as follows:
(i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and “all risks” property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks)including earthquake, including a vandalism flood and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided collapse) in an amount equal to one hundred percent (100%) of the full replacement value new without deduction cost, insuring (1) all property owned by the Tenant, or for depreciation which the Tenant is legally liable, or installed by or on behalf of the Tenant, and located within the Building, including, but not limited to, fittings, installations, alterations, additions, partitions and all other Leasehold Improvements and (2) the Tenants inventory, furniture and movable equipment;
(ii) if applicable, 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 full replacement cost of all Leasehold Improvements and of all boilers, pressure vessels, heating, ventilating and air-conditioning equipment and miscellaneous electrical apparatus owned or operated by the Tenant or by others (Aexcept for the Landlord) on behalf of the Tenant Improvements, Alterations, fixtures in the Premises or relating to or serving the Premises;
(iii) business interruption insurance with at least twelve (12) months indemnity in an amount that will reimburse the Tenant for direct or indirect loss of earnings attributable to all perils insured against in Sections 9.02(a)(i) and 9.02(a)(ii) and other improvements perils commonly insured against by prudent tenants, or attributable to prevention of access to the Premises or the Building as a result of those perils;
(iv) public liability and property damage insurance including personal injury liability, contractual liability, non-owned automobile liability, employer’s liability and owners’ and contractors’ protective insurance coverage, with respect to the Premises and the Tenant’s use of the Common Elements, with coverage including the activities and operations conducted by the Tenant and any other Person on the Premises and by the Tenant and any other Xxxxxx performing work on behalf of the Tenant and those for whom the Tenant is in law responsible, in any other part of the Building. These policies will (1) be written on a comprehensive basis with inclusive limits of at least $5,000,000 per occurrence for bodily injury for anyone or more Persons or property damage (but the Landlord, acting reasonably or the Mortgagee, may require higher limits from time to time), and (2) contain a severability of interests clause and cross liability clauses;
(v) tenant’s legal liability insurance for the full replacement cost of the Premises, including but not limited loss of their use;
(vi) non-owned automobile insurance providing third party liability insurance with $1,000,000 inclusive limits, covering all licensed vehicles operated by or on behalf of the Tenant ; and
(vii) any other form of insurance and with whatever higher limits the Tenant, the Landlord (acting reasonably) or the Mortgagee requires from time to all mechanicaltime in form, plumbingin amounts and for risks against which a prudent tenant would insure.
(b) The policies specified under Section 9.02(a)(i), heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, (ii) and (Biii) trade fixtureswill contain a waiver of any subrogation rights which the Tenant’s Insurers may have against all and any of the Landlord, furniturethe Owners, equipment the Mortgagee, the Property Manager and other personal property installed those for whom all and any of them are or is in law responsible, whether or not the damage is caused by their act, omission or at negligence.
(c) The policies specified under Section 9.02(a)(i), (ii) and (iii) will contain the expense Mortgagee’s standard mortgage clause and may have reasonable deductibles of Tenantup to three percent (3%) of the amount insured. If there is a dispute as to the amount of the full replacement cost, the Landlord will determine it.
(d) Each policy of insurance specified under Section 9.02
(a) will (i) be taken out with Insurers acceptable to the Landlord, acting reasonably; (ii) be in a form satisfactory to the Landlord; (iii) Worker’s Compensation coverage be non-contributing with, and will apply only as required by lawprimary and not excess to any other insurance available to all and any of the Landlord, the Owners and the Mortgagee; and (iv) business interruptionnot be invalidated with respect to the interests of all and any of the Landlord, loss the Owners, and the Mortgagee by reason of income any breach or violation of warranties, representations, declarations or conditions contained in the policies and extra expense insurance covering any failure or interruption of Tenant’s business equipment (includingv) contain an undertaking by the insurers to notify the Landlord, without limitation, telecommunications equipment) the Owners and covering all other perils, failures or interruptions sufficient to cover a period of interruption of the Mortgagee in writing not less than twelve thirty (1230) monthsdays before any material change, cancellation or termination.
(e) Each year on the anniversary of the Commencement Date the Tenant will deliver certificates of insurance on the Landlord’s standard form or other reasonably comparable form acceptable to the Landlord, duly executed by the Tenants insurers evidencing that the required insurance is in force. No review or approval of any insurance certificate by the Landlord derogates from or diminishes the Landlord’s rights under this Lease.
(f) If the Tenant shall carry and fails to maintain during the entire Term (including any option periods, if applicableinsurance policy specified under Section 9.02(a), at Tenant’s sole the Landlord shall have the right, but not the obligation, upon forty-eight (48) hours prior notice, to pay the cost and expenseor premium therefor, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering event the Premises and TenantTenant will, upon demand, pay the Landlord’s operations thereincosts in so doing, as may be reasonably required by together with a sum equal to fifteen percent (15%) of such costs representing the Landlord’s overhead.
Appears in 1 contract
Tenant’s Insurance. Tenant, (A) Tenant shall at all times during procure and maintain throughout the Term of this Lease, and at its own sole cost and expense, procure and continue in force the following insurance coverage: insurance:
(i1) Commercial General Liability InsuranceInsurance providing coverage for bodily injury (including death), written on an occurrence basis, with property damage and products liability insurance (where such exposure exists). This policy shall contain a broad form contractual liability endorsement under which the insurer agrees to insure Tenant's obligations under Section 4.6(A) hereof. Such insurance shall have a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) per occurrence and Five Million Dollars ($5,000,000) in the annual aggregateaggregate for all occurrences within each policy year. Not more frequently than once in any three (3) year period, if, in the opinion of Landlord's lender or of the insurance consultant retained by Landlord, the amount of public liability and property damage insurance coverage at that time is not adequate, Tenant shall increase the insurance coverage as required by either Landlord's lender or Landlord's insurance consultant; provided however, that in no event shall any such insurance coverage be increased in excess of that which is from time to time being required by comparable landlords of comparable tenants leasing comparable amounts of space in Comparable Buildings;
(2) Fire and extended coverage insurance covering Tenant's personal property, fixtures, improvements, wall coverings, floor coverings, window coverings, alterations, furniture, equipment, lighting, ceilings, heating, ventilation and air conditioning equipment, interior plumbing and plate glass, including products liability coverage if applicable, owners the Tenant Improvements and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard Alterations against loss or damage by fire, flood, windstorms, hail, earthquakes, explosion, riot, damage from aircraft and vehicles, smoke damage, vandalism and malicious mischief and such other risks as are from time to time covered under "extended coverage coverage" endorsements and special extended coverage insurance (endorsements commonly known as "all risks)" endorsements, including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction from time to time and containing the waiver of subrogation required in Section 6.3 of this Lease. The proceeds from any such policy shall be used by Tenant for depreciation the replacement of all such personal property;
(A3) Tenant Improvements, Alterations, fixtures and other improvements State Worker's Compensation Insurance in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication statutorily mandated limits and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption Employers Liability Insurance with limits of not less than twelve Five Hundred Thousand Dollars (12$500,000);
(4) monthsBusiness interruption insurance with coverage for at least one (1) year in such amounts as will reimburse Tenant for direct or indirect loss of earnings and incurred costs attributable to the perils commonly covered by Tenant's property insurance described above but in no event less than One Million Dollars ($1,000,000). Such insurance will be carried with the same insurer that issues the insurance for the personal property; and
(5) Such other insurance, or amounts of insurance, as Landlord may reasonably require from time to time, but in no event may Landlord require any insurance which is (a) not then being required of comparable tenants leasing comparable amounts of space in Comparable Buildings, or (b) not then available at commercially reasonable rates.
(B) It is expressly understood and agreed that the foregoing minimum limits of insurance coverage shall not limit the liability of Tenant for its acts or omissions as provided in this Lease. All of the foregoing insurance policies (with the exception of Worker's Compensation Insurance to the extent not available under statutory law) shall name Landlord, the operator under any reciprocal easement agreement affecting the Project, any holder of a Mortgage, any lessor under a Superior Lease or any managing agent for the Office Building and such other parties as Landlord shall from time to time designate as an additional insured as their respective interests may appear, and, except for worker's compensation coverage, shall provide that any loss shall be payable to Landlord and any other additional insured parties as their respective interests may appear. All insurance required hereunder shall be placed with companies which are rated A:XI or better by Best's Insurance Guide and licensed to do business in California. All such policies shall be written as primary policies, with annual deductibles not to exceed Ten Thousand Dollars ($10,000) and shall, if such is available on a commercially reasonable basis, contain a cross-liability endorsement or severability of interest clause acceptable to Landlord. Such insurance shall provide that it is primary insurance and not "excess over" or contributory, and any other policies, including Landlord's policy, will serve as excess and non-contributing coverage. Tenant shall carry deliver duplicate original copies of all such policies and all endorsements thereto, prior to the Commencement Date, or, in the case of renewals thereto, fifteen (15) days prior to the expiration of the prior insurance policy, together with evidence that such policies are fully paid for, and that no cancellation, material change or non-renewal thereof shall be effective except upon thirty (30) days prior written notice from the insurer to Landlord. If Tenant shall fail at any time to procure and/or maintain during the entire Term (including insurance required herein, Landlord may, at its option, procure such insurance on Tenant's behalf and the cost thereof shall be payable upon demand, as Additional Rent. Payment by Landlord of any option periodsinsurance premium or the carrying by Landlord of any such insurance policy shall not be deemed to waive or release the default of Tenant with respect thereto. In addition, if applicable), at Tenant’s sole cost Tenant fails to carry the amounts and expense, increased amounts types of the insurance required to be carried by Tenant it pursuant to this Article 14 Section 4.5, in addition to any remedies Landlord may have under this Lease, such failure shall be deemed to be a covenant and such other reasonable types agreement by Tenant to self-insure with respect to the type and amount of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinwhich Tenant so failed to carry, as may be reasonably required by Landlordwith full waiver of subrogation with respect thereto.
Appears in 1 contract
Tenant’s Insurance. At Tenant, shall at all times during the Term of this Lease, and at its own cost and ’s expense, procure Tenant shall procure, carry and continue maintain in force effect throughout the Lease Term, in a form and with deductibles acceptable to Landlord and with such insurance companies as are acceptable to Landlord (which companies shall have a Best’s rating of A- VIII or better), the following insurance coverage: coverages:
(ia) Commercial General Liability Insuranceinsurance (and commercial umbrella insurance, written on an if necessary to provide required limits), at least as broad as the Insurance Services Office (ISO) occurrence basispolicy form CG 00 01 (11/85), or a substitute form providing equivalent coverage as reasonably approved by Landlord, with a combined single limit for bodily injury and property damages limits of not less than Two Million Dollars ($2,000,000) 5,000,000 per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, covering bodily injury, property damage and personal and advertising injury and including, but not limited to, coverage for, premises and operations (including products liability coverage if applicable, owners the use of owned and contractors protective coverage, blanket contractual coverage including both oral and written contractsnon-owned equipment), and personal injury coveragecontractual liability (including tort liability of another party and Tenant’s liability in Paragraph 13 above);
(b) Property insurance at least as broad as the most commonly available ISO Special Form Causes of Loss (“all risk”) policy form CP 1030 with an agreed amount endorsement, covering Tenant’s equipment, furniture, fixtures and other personal property located in, on or about the insuring provisions of this Lease Premises, including any Rooftop Equipment and the performance of Tenant of the indemnity Generator, and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fireincluding, extended without limitation, coverage for vandalism, malicious mischief, and special extended coverage insurance (all risks)sprinkler leakage, including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new thereof (without deduction for depreciation depreciation);
(c) Workers’ compensation insurance, in accordance with Applicable Laws; and
(d) Loss of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income Income insurance and extra expense insurance covering any failure coverage in amounts as will reimburse Tenant for direct or interruption indirect loss of earnings attributable to all perils commonly insured against by prudent lessees in the business of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient attributable to cover a period prevention of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required access to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlorda result of such perils.
Appears in 1 contract
Samples: Lease Agreement (Harmonic Inc)
Tenant’s Insurance. (a) Tenant, shall at all times during the Term of this Lease, and at its own sole cost and expense, shall, during the entire Term hereof, procure and continue keep in force force, in the following insurance coverageamounts set forth on the Data Sheet: (i) Commercial General Liability Insurancecommercial general liability insurance with respect to the Premises and the operations of Tenant in, written on an or about the Premises per occurrence basis, with a combined single limit for limit, broad form/extended bodily injury injury, death and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereofdamage; (ii) a policy of standard fire, extended product liability coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipmentliquor liability coverage for acts arising out of the serving and/or consumption of food and/or alcoholic beverages on or obtained at the Premises, if part of the Permitted Use) per occurrence combined single limit, broad form/ extended bodily injury, death and property damage; (iii) commercial automobile liability insurance covering all owned, non-owned, hired or borrowed vehicles of Tenant, or any vehicle used by Tenant’s employees, in connection with the operation of its business from the Premises, per occurrence combined single limit, broad form/ extended bodily injury, death and property damage; (iv) property insurance at full replacement value including coverage against fire, smoke, lightning, windstorm and hail, explosion, theft, vandalism, malicious mischief, falling objects, water damage which does not exclude backup from sewers or drains and/or sprinkler leakage, plate glass, earth movement, and flood insuring Tenant’s merchandise, trade fixtures, furnishings, mechanical, electronic, or other perilsservice equipment, failures and all other items of Personal Property of Tenant located on or interruptions sufficient to cover a period of in the Premises; (v) business interruption of not and extra expense insurance covering no less than twelve (12) monthsmonths of loss of income; (vi) builders risk insurance during any construction, alteration, or fit-out project undertaken by Tenant as required in Exhibit B; (vii) workers’ compensation coverage as required by law and including Employer’s Liability Insurance in the amounts set forth on the Data Sheet per each accident, per each employee by disease, with a policy aggregate by disease in the amount set forth on the Data Sheet; and (viii) professional liability insurance in commercially reasonable amounts if the Permitted Use includes any medical, veterinary, pharmacy, chiropractor, dentistry, legal, CPA or accounting, psychology, psychiatry or therapist, or other similar uses. If Landlord reasonably deems it necessary to increase the amounts or limits of insurance required to be carried by Tenant hereunder, Tenant shall carry so increase the amounts or limits and maintain during shall provide Landlord with policies or certificates indicating the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts or limits.
(b) All policies of the insurance required to be carried by Tenant pursuant to this Article 14 Section 11.01 shall be written by insurance companies of adequate financial capacity satisfactory to Landlord with a Best’s rating and Financial Size Category of not less than A-/VII and authorized to do business in the state in which the Development is located. Any such insurance required of Tenant hereunder may be furnished by Tenant under any blanket policy carried by it or under a separate policy therefor. An insurance certificate (and endorsements where same become necessary) certifying that such policy has been issued, providing the coverage required and all of the provisions specified in this Section 11.01, shall be delivered to Landlord prior to the Delivery Date, and such insurance information shall also be provided in connection with all renewals. ROS/Impossible Kicks 13 Form Rev. [02/2023]
(c) Tenant’s general liability insurance policy shall: (i) be primary and non-contributing with respect to any policies carried by Landlord and that any coverage carried by Landlord be excess insurance; and (ii) include Landlord and the parties set forth on the Data Sheet of this Lease and any other reasonable types parties designated by Landlord from time to time as additional insured entities. All insurance policies required to be carried by Tenant pursuant to this Section 11.01 shall contain the following clauses and provisions: (w) a waiver by the insurer of any right to subrogation against Landlord and other additional insured entities (as set forth on the Data Sheet), its agents, employees and representatives which arises or might arise by reason of any payment under such policy or by reason of any act or omission of Landlord, its agents, employees or representatives; (x) a severability of interest clause or endorsement; (y) a provision that the insurer will not cancel or change the coverage provided by such policy without giving Landlord thirty (30) days’ prior written notice; and (z) such policy shall be an “occurrence form” policy. With respect to any policy of insurance coverage required in this Section 11.01, Tenant shall be responsible for any deductible or self-insured retention amounts and the defense and indemnity obligations set forth in this Lease in the event that an insurer does not participate in the defense and/or indemnity of a claim tendered by Landlord pending exhaustion of a deductible or self-insured retention amount, it being the intent of the parties that the additional insured entities shall be fully insured from the first dollar of any claimed loss or expense.
(d) In the event that Tenant fails to procure or to maintain, at the times and for the duration specified in this Section 11.01, any insurance required by this Section 11.01, or fails to carry insurance required by law or governmental regulation, Landlord may (but shall not be required to) at any time or from time to time, and without notice to Tenant, procure such reasonable amounts covering insurance and pay the premiums therefor, and the cost of same, plus a fifteen percent(15%) administrative fee shall be payable upon Landlord’s demand.
(e) Tenant will not do or suffer to be done, or keep or suffer to be kept, anything in, upon or about the Premises and Tenantwhich will violate Landlord’s operations thereinpolicies of hazard or liability insurance, as may or which will prevent Landlord from procuring such policies in companies acceptable to Landlord. If anything done, omitted to be reasonably required done or suffered by Tenant to be kept in, upon or about the Premises shall cause the rate of fire or other insurance on the Premises or on other property of Landlord or of others within the Development to be increased beyond the minimum rate from time to time applicable to the Premises or to any property for the use or uses made thereof, Tenant will pay the amount of any such increase upon Landlord’s demand.
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
Tenant’s Insurance. Tenant, shall at At all times during after the Term execution of this Lease, Tenant will cany and maintain, at its own cost and expenseexpense with insurance companies reasonably acceptable to Landlord that are rated no less than A-, procure and continue in force the following insurance coverageClass VII, by A.M. Best Company: (i) Commercial General Liability Insurancea commercial general liability insurance policy, written on an occurrence basisincluding products/completed operations and insurance against assumed or contractual liability under this Lease, for liability arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto, including any portion of the Common Areas used by Tenant; Tenant’s invitees, contractors, employees or agents, to afford protection with a combined single limit for respect to bodily injury and injury, death or property damages damage (including loss of use) of not less than One Million Dollars ($1,000,000) each occurrence/Two Million Dollars ($2,000,000) per occurrence aggregate; (ii) a property insurance policy insuring all Above Standard improvements and Three fixtures in the Premises, and all personal property located within the Premises, on the “Special Form,” including theft coverage, written at replacement cost value with replacement cost endorsements, covering all of the Tenant’s property, and business interruption coverage in an amount that will reimburse Tenant for direct or indirect loss of earnings attributable to the perils insured against under section (i) above and this section (ii), and other perils commonly insured against by prudent business owners, or attributable to prevention of access to the Premises, for a period of at least eighteen (18) months; (iii) a worker’s compensation insurance policy with applicable statutory limits, including employers liability insurance with limits of not less than One Million Dollars ($3,000,0001,000,000.00); (iv) in automobile liability insurance with single limit coverage of at least $1,000,000 for all owned, leased/hired or non -owned vehicles; (v) if Tenant will serve or sell alcohol at the annual aggregateProject, a liquor liability insurance policy with minimum coverage of One Million Dollars($1,000,000.00); and (vi) an excess/umbrella liability policy “following form” of not less than Ten Million Dollars ($10,000,000), including products liability coverage if applicablea “drop down” feature in case the limits of the primary policy are exhausted. Landlord may also require all Outside Contractors to provide in addition to the insurance coverages referenced above such other insurance in amounts and types and with such companies as may be reasonably requested by Landlord, including, without limitation, construction all risk/builder’s risks (including loss of revenue) insurance, owners and contractors protective coverageliability insurance, blanket contractual coverage including both oral professional errors and written contractsomissions liability insurance, and personal injury coverageinsurance covering such contractor’s equipment and tools. Each insurance policy required to be maintained hereunder by Tenant shall include an “Additional Insured Endorsement” in favor of Landlord. Tenant’s insurance shall be considered primary, covering not excess, and non-contributory with Landlord’s insurance policies, and deductible amounts, if any, under such policies shall be commercially reasonable. An XXXXX 25 certificate of such insurance in the insuring provisions of this Lease most recent edition available and the performance of Tenant reasonably satisfactory to Landlord, or certified copies of the indemnity policies, shall be furnished to Landlord on or before the earlier of the Commencement Date or ten (10) days after execution of the Lease, reflecting the limits and exemption endorsements required herein, and renewal XXXXX 25 certificates or certified copies of renewal policies shall be delivered to Landlord from liability agreements set forth in Article 13 hereof; at least ten (ii10) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal days prior to the full replacement value new expiration date of any policy. Each policy shall be endorsed to provide notice of nonrenewal to Landlord and shall further provide that it may not be altered or canceled without deduction for depreciation of all thirty (A30) days prior notice to Landlord. Landlord agrees to cooperate with Tenant Improvementsto the extent reasonably requested by Tenant to enable Tenant to obtain such insurance. Landlord shall have the right to require increased limits if, Alterationsin Landlord’s reasonable judgment, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthssuch increase is necessary. Tenant shall carry pay all premiums and maintain during the entire Term (including any option periodscharges for all of said policies, and, if applicable)Tenant shall fail to make any such payment when due or carry any such policy, Landlord may, but shall not be obligated to, make such payment or carry such policy, and the amount paid by Landlord, with interest thereon at Tenant’s sole cost and expensethe Default Rate, increased amounts of the insurance required shall be repaid to be carried Landlord by Tenant pursuant within ten (10) days following demand therefor, and all such amounts so repayable, together with such interest, shall be deemed to constitute additional Rent hereunder. Payment by Landlord of any such premium, or the carrying by Landlord of any such policy, shall not be deemed to waive or release Tenant from any remedy available to Landlord under this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordLease.
Appears in 1 contract
Tenant’s Insurance. Tenant, at its expense, shall maintain at all times during the Term commercial general liability insurance, including a contractual liability endorsement and personal injury liability coverage, in respect of this Lease, the Premises and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basisconduct or operation of business therein, with Landlord, the Property Manager, Ground Lessor, Superior Mortgagee and any other holder of a combined single limit Superior Interest whose name and address shall previously have been furnished to Tenant, as additional insureds, with limits of not less than $10,000,000.00 per occurrence for bodily injury and property damages damage. Tenant shall also maintain (i) “all risk” property insurance (including coverage for terrorism) covering all present and future Leasehold Improvements and Tenant’s Property to a limit of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new thereof, (ii) business interruption insurance for a minimum period of three (3) months or such greater amount that will reimburse Tenant for direct and indirect loss of earnings and extra expense attributable to all perils insured against in this Section 12.03 or other perils commonly insured against by prudent tenants or attributable to prevention of access to the Premises or the Building as a result of any of such perils, (iii) comprehensive equipment breakdown insurance (without deduction exclusion for depreciation of all (A) Tenant Improvementsexplosion), Alterations, fixtures and other improvements in the Premises, including but not limited to covering all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication electrical and other equipmentequipment belonging to Tenant against physical damage from all perils insured against in this Section 12.03, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss workers compensation insurance in accordance with the laws of income the State of New York and extra expense (v) comprehensive automobile liability insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption coverage with limits of not less than twelve (12) months$2,000,000 combined single limit coverage against bodily injury liability and property damage liability arising out of the use by or on behalf of Tenant, its agents and employees in connection with this Lease, of any owned, non-owned or hired motor vehicle. Tenant shall carry deliver to Landlord and maintain during any other additional insured such certificates of insurance, issued by the entire Term insurer, in form reasonably satisfactory to Landlord, at least ten (including 10) days before the Commencement Date. The “all risk” property insurance policies required to be carried by Tenant, and any option periodscertificates evidencing such policies, shall provide that the proceeds under such policies shall be payable to Landlord, Tenant and each Superior Lessor and Superior Mortgagee as their interests may appear. Tenant shall execute and deliver to Landlord such proofs of loss and other instruments which may be reasonably required to recover any such insurance proceeds. Tenant shall procure and pay for renewals of such insurance from time to time before the expiration thereof, and Tenant shall deliver to Landlord and any other additional insured a certificate thereof issued by the insurer at least thirty (30) days before the expiration of any existing policy. All such policies shall be issued by companies of recognized responsibility licensed to do business in New York State (provided, that if applicablepermitted under all applicable Superior Instruments, then it shall not be necessary for an insurer to be licensed in New York State so long as such insurer is permitted by all applicable Legal Requirements to write insurance in New York State), rated by Best’s Insurance Reports or any successor publication of comparable standing at A/VIII or better or the then equivalent of such rating, and Tenant shall use commercially reasonable efforts to cause all such policies to contain a provision whereby the same cannot be cancelled, allowed to lapse or modified unless Landlord is given at least thirty (30) days’ prior written notice of such cancellation, lapse or modification, or, in the event of any cancellation, lapse or modification by reason of non-payment of the premiums due thereunder, at least ten (10) days’ prior written notice of the same (it being understood that in no event may Tenant’s sole cost insurance coverage be reduced below the coverage required pursuant to this Lease). In addition to the foregoing, Tenant shall give Landlord at least thirty (30) days’ prior written notice of any cancellation, lapse or modification reducing the coverage of the insurance policies required to be maintained by Tenant hereunder. The limits of liability required herein may be provided by a single policy of insurance or by a combination of primary and expenseumbrella policies, increased amounts but in no event shall the total limits of liability available for any one occurrence or accident be less than those required herein. Tenant’s policies of insurance may be maintained under “blanket policies” insuring the Premises and other property or locations of Tenant; provided, that such blanket policies shall (i) set forth the amount of the insurance applicable to the Premises, (ii) otherwise comply with the provisions of this Article 12, and (iii) afford the same protection to Landlord and any other additional insured as would be provided by policies individually applicable to the Premises. All insurance policies required to be maintained pursuant to this Section 12.03 shall not contain any exclusions for acts of terrorism or similar events. In addition to the other requirements set forth in this Lease, the insurance required to be carried by Tenant under this Lease shall be primary insurance for all claims under it and shall provide that any insurance carried by Landlord, the Property Manager, and the holder of any Superior Interest is strictly excess, secondary and non-contributing with any insurance carried by Tenant. Notwithstanding anything to the contrary contained herein, in no event shall any policy of insurance maintained by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordSection 12.03 have a deductible greater than $250,000.00.
Appears in 1 contract
Samples: Lease (KCG Holdings, Inc.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,0002,000,000.00) per occurrence and Three Million Dollars ($3,000,0003,000,000.00) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Samples: Office Lease (Wowio, Inc.)
Tenant’s Insurance. TenantDuring the Term, shall at all times during the Term of this Lease, Tenant will provide and at its own cost and expense, procure and continue keep in force the following insurance:
(a) commercial general liability insurance coverage: relating to Tenant’s business (icarried on, in or from the Premises and including Tenant’s use of any Hazardous Materials) Commercial General Liability Insuranceand Tenant’s use and occupancy of the Premises, written on an occurrence basisfor 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;
(b) all-risk or fire insurance (including standard extended coverage endorsement perils, leakage from fire protective devices and other water damage) relating to Tenant’s furniture, equipment, inventory, trade fixtures, documents, files, work product and other personal property 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;
(c) If any boiler or machinery is operated in the Premises by Tenant, boiler and machinery insurance;
(d) If Tenant operates owned, hired or non-owned vehicles, automobile liability insurance with limits of not less than $1,000,000 combined single limit for bodily injury and property damages of not less than Two Million Dollars damage; and
($2,000,000e) per occurrence workers’ compensation and Three Million Dollars employer’s liability insurance in any amounts required to comply with applicable Laws. Landlord, Landlord’s property manager ($3,000,000) if any), and any Lender will be named as additional insureds in the annual aggregatepolicy described in Section 13.2(a), including products as their interests appear, which will include cross liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral severability of interests clauses and written contracts, will be on an “occurrence” (and personal injury coverage, covering not a “claims made”) form. The policies described in Section 13.2(b) will permit the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption release of Landlord from certain liability agreements set forth under Section 15.2. Tenant’s insurance policies will be written by insurers that are rated A-VII or better by Best’s Rating Guide and licensed in Article 13 hereof; (ii) a policy the State of standard fireColorado, extended will be written as primary policies, not contributing with and not supplemental to the coverage that Landlord may carry, and special extended coverage insurance (all risks)will otherwise be upon such terms and conditions as Landlord from time to time reasonably requires, including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of reasonable limits on Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsdeductibles. Tenant shall carry will file with Landlord, on or before the Commencement Date and maintain during at least 10 days before the entire Term (including any option periodsexpiration date of expiring policies, if applicable)such copies of either current policies or certificates, at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such or other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinproofs, as may be reasonably required to establish Tenant’s insurance coverage in effect from time to time and payment of premiums. Tenant’s insurers will agree to give Landlord and all other additional insureds at least 30 days’ prior notice of any non-renewal, and at least 10 days’ prior notice of any cancellation, of any insurance coverage required by Landlord.this
Appears in 1 contract
Samples: Lease Agreement (Encision Inc)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Samples: Standard Office Lease (Alliance Bancshares California)
Tenant’s Insurance. TenantTenant shall maintain, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, coverages with a combined single limit for bodily injury and property damages limits of not less than Two Million Dollars the greater of ($2,000,000i) per occurrence and Three Million Dollars those set forth hereunder, ($3,000,000ii) in those evidenced on the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsdeclaration page of the pertinent insurance policy, and personal injury coverage(iii) those required by law.
10.3.1 Commercial General Liability Insurance issued on terms no less broad than the most current ISO CG 00 01 occurrence form, covering the insuring provisions insured against claims of this Lease bodily injury, personal and advertising injury and property damage (including loss of use thereof) arising out of Tenant’s operations, products/completed operations, social or host liquor liability (if applicable), and “insured contracts” (as defined by the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksmost current ISO CG 00 01 form), including a vandalism Separation of Insureds provision with no exclusion for cross-liability, and malicious mischief endorsementincluding the Additional Insureds (as defined hereunder) as additional insureds with respect to both ongoing and completed operations coverage on a primary and non-contributory basis, sprinkler leakage coverage for limits of liability of not less than: $1,000,000 each occurrence $2,000,000 annual aggregate per location $1,000,000 personal and earthquake sprinkler leakage where sprinklers are provided advertising injury $2,000,000 products-completed operations No deductible or self-insured retention.
10.3.2 Property Insurance covering (i) all office furniture, business and trade fixtures, office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s property on the Premises installed by, for, or at the expense of Tenant, and (ii) any other tenant improvements that exist in the Premises as of the Lease Commencement Date (the “New Improvements”). Such insurance shall be written on an amount equal to “all risks” of physical loss or damage basis, for the full replacement cost value (subject to reasonable deductible amounts) new without deduction for depreciation of all (A) Tenant Improvementsthe covered items and in amounts that meet any co-insurance clauses of the policies of insurance and shall include coverage for damage or other loss caused by fire or other peril including, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanicalto, plumbinghail, heatingwindstorm, ventilatingflood, air conditioningearthquake, electricalterrorism, telecommunication vandalism and other equipmentmalicious mischief, systems and facilitiestheft, water damage of any type, including sprinkler leakage, earthquake sprinkler leakage, bursting or stoppage of pipes, and explosion. 176647423.3 373606-000050
10.3.3 Business Income Interruption for one (B1) trade fixtures, furniture, equipment and other personal property installed by year plus Extra Expense insurance in such amounts as will reimburse Tenant for actual direct or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, indirect loss of income earnings and extra expense continuing expense, including rent, attributable to the risks outlined in Section 10.3.2 above. Tenant may self-insure the Business Income Interruption insurance covering any failure or interruption so long as the self-insured amount shall be deemed to contain all of Tenant’s business equipment (the terms and conditions applicable to the insurance required in this Lease, including, without limitation, telecommunications equipment) full waiver of subrogation in favor of Landlord.
10.3.4 Auto Liability Insurance covering liability arising out of any auto, including owned (if any), non-owned, leased, and covering all other perilshired autos, failures or interruptions sufficient to cover with a period of interruption limit of not less than twelve (12) months. Tenant shall carry $1,000,000 combined single limit each accident for bodily injury and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordproperty damage.
Appears in 1 contract
Samples: Lease (Organovo Holdings, Inc.)
Tenant’s Insurance. TenantDuring the Term, shall at all times during the Term of this Lease, Tenant will provide and at its own cost and expense, procure and continue keep in force the following insurance:
(a) commercial general liability insurance coverage: relating to Tenant’s business (icarried on, in or from the Premises) Commercial General Liability Insuranceand Tenant’s use and occupancy, written for personal and bodily injury and death, and damage to others’ property, with combined single limits of not less than $1,000,000 for any one accident or occurrence and $2,000,000.00 in the aggregate and issued on an occurrence basisbasis insuring against all claims for third-party property damage and third-party bodily injury or death.;
(b) all risk or 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;
(c) if any boiler or machinery is operated in the Premises, boiler and machinery insurance;
(d) if Tenant operates owned, hired or non-owned vehicles on the Land, automobile liability insurance with a limits of not less than $1,000,000 combined single limit for bodily injury and property damages of damage;
(e) worker’s compensation and employer’s liability insurance in any amounts required to comply with applicable Laws;
(f) umbrella liability insurance with limits not less than Two Million Dollars ($2,000,000) 3,000,000.00 per occurrence and Three Million Dollars ($3,000,000) in the annual aggregateaggregate attaching without gaps in coverage or limits, including products above the underlying general liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of auto liability policies outlined in this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereofSection 9.2; and
(ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (ivg) business interruption, loss of income and extra expense insurance covering any failure or interruption with limits not less than one hundred percent (100%) of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover charges payable by Tenant under this Lease for a period of interruption of not less than twelve (12) months. Tenant shall carry Landlord, Landlord’s Building manager, Landlord’s asset manager and maintain during any Lender will be named as additional insureds in the entire Term (including any option periods, if applicablepolicy described in Section 9.2(a), at which will include cross liability and severability of interests clauses and will be on an “occurrence” (and not a “claims made”) form. Tenant’s sole cost insurance policies will be written by insurers that are rated A / IX or better by Best’s Rating Guide and expenselicensed in the state in which the Building is located, increased amounts will be written as primary policies, not contributing with and not supplemental to the coverage that Landlord may carry, and will otherwise be upon such terms and conditions as Landlord from time to time reasonably requires. Tenant will file with Landlord, on or before the Commencement Date and at least 10 days before the expiration date of the insurance required to be carried by Tenant pursuant to this Article 14 and expiring policies, such copies of either current policies or certificates, or other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinproofs, as may be reasonably required to establish Tenant’s insurance coverage in effect from time to time and payment of premiums. Tenant’s insurers will agree to give Landlord and all other additional insureds at least 30 days’ prior notice of any non-renewal, and at least 10 days’ prior notice of any cancellation, of any insurance coverage required by Landlordthis Section 9.2. If Tenant fails to insure or pay premiums, or to file satisfactory proof as required, Landlord may, upon a minimum of 24-hours’ notice, effect such insurance and recover from Tenant on demand any premiums paid as additional Rent hereunder.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at At all times during the Term of this Leaseand any renewal thereof, and the Tenant at its own cost and expense, procure shall take out and continue keep in full force and effect:
(1) All risks (including flood and earthquake) property insurance in an amount equal to one hundred (100%) percent of the following full replacement cost, insuring:
(a) the Demised Premises (including all buildings on the premises); the Landlord is to be included as an additional named insured and/or joint loss payee;
(b) contingent liability from the enforcement of building by-laws including the demolition and replacement of undamaged portions of the buildings or structures and increased costs of construction;
(c) all property owned by Tenant or for which Tenant is legally liable or installed by or on behalf of Tenant, or located on the Demised Premises including, without limitation, subleasehold improvements, chattels, furniture, stock, office equipment, equipment, fixtures, contents, boiler or mechanical or electrical equipment, if applicable and such policy will include a Waiver of Subrogation in favour of the Landlord; and
(d) extra expense insurance coverage: in such amounts as will reimburse the Tenant for extra expense incurred arising out of prevention of access to the Demised Premises and/or business interruption insurance covering any rental obligation to the Landlord.
(i2) Coverage for the repair and replacement of boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus on a broad form blanket coverage basis including Business Interruption insurance. The Property and Boiler and Machinery policies shall contain provisions for settling joint loss disputes.
(3) Commercial General Liability Insurancegeneral liability insurance, written which includes products liability (if applicable), personal injury, employer's/and contingent employer's liability, blanket contractual liability, non- owned automobile liability, Owners and Contractors Protective liability, tenant discrimination, wrongful eviction, occurrence property damage, and provisions for cross liability and severability of interests with limits of not less than Ten Million Dollars ($10,000,000.00) per occurrence. The Landlord is to be included as an additional insured.
(4) During any period of construction, the tenant will take out, or cause to be taken out wrap- up commercial general liability insurance in appropriate amounts applicable to the works. The Landlord shall be added as an additional insured on an occurrence basis, the wrap-up or any hired contractor's policy of insurance..
(5) Standard owner's automobile liability insurance with a combined single limit for bodily injury and property damages limits of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,0002,000,000.00) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions respect of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereofany one accident; and
(ii6) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and Any such other reasonable types forms of insurance coverage and in such reasonable amounts covering as the Premises and Tenant’s operations thereinLandlord acting reasonably, as may be reasonably required by Landlordrequire from time to time.
Appears in 1 contract
Samples: Sublease Agreement
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) […***…] per occurrence and Three Million Dollars ($3,000,000) […***…] in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. TenantTenant shall throughout the entire Term, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure take out and continue keep in full force and effect, the following insurance coverage: insurance:
(i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks)including but not limited to sprinkler leakage, including a vandalism ordinance and malicious mischief endorsementlaw, sprinkler leakage coverage sewer back-up, windstorm and earthquake sprinkler leakage where sprinklers are provided collapse coverage) in an amount equal to the full replacement value new without deduction for depreciation cost thereof upon property of all (A) every description and kind owned by Tenant Improvementsand which is located within the Complex, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipmentTenant’s Personal Property;
(ii) business interruption insurance in such amount as will reimburse Tenant for direct or indirect loss of earnings attributable to all perils insured against in sub-clause (i) and covering all other perils commonly insured against by prudent tenants or attributable to prevention of access to the Premises or the Complex as a result of such perils;
(iii) commercial general liability insurance, failures in conjunction with umbrella or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry excess liability insurance, including property damage and maintain during the entire Term bodily injury and personal injury liability, tenant’s legal liability, contractual liability (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant contractual liability with respect to this Article 14 Lease) and such other reasonable types of owners’ and contractors’ protective insurance coverage and in such reasonable amounts covering with respect to the Premises and Tenant’s use of the Complex, coverage to include the activities and operations thereinconducted by Tenant and any other person for whom Tenant is at law responsible. Such policies shall be written on a comprehensive basis with inclusive limits of not less than Five Million Dollars ($5,000,000) for bodily injury to any one or more persons or property damage, and such higher limits as may be Landlord requires from time to time, acting reasonably and consistent with the then-current insurance requirements that the majority of the other landlords of comparable buildings in the Reston/Herndon, Virginia submarket are then requiring of new tenants. Tenant’s liability insurance shall contain a severability of interests clause and a cross-liability clause;
(iv) Workers’ compensation or similar insurance in form and amounts required by Landlordlaw, and Employer’s Liability with not less than the following limits: Each Accident $500,000 Disease—Policy Limit $500,000 Disease—Each Employee $500,000; and
(v) any other form of insurance, which Landlord requires from time to time, acting reasonably and consistent with the then-current insurance requirements that the majority of the other landlords of comparable buildings in the Reston/Herndon, Virginia submarket are then requiring of new tenants.
Appears in 1 contract
Samples: Deed of Lease (Gtsi Corp)
Tenant’s Insurance. TenantCommencing the date Tenant is required to provide Landlord with the certificate of insurance, shall at all times during the Term of this Leaseas provided below, and continuing until the expiration or earlier termination of the Lease Term, Tenant shall carry and maintain at its own cost and expense, procure and continue in force expense the following insurance coveragecoverages with insurance companies reasonably acceptable to Landlord with a rating of A-, or better by A.M. Best Company: (i) Commercial General Liability Insurance, (CGL) Policy (written on an occurrence basis), with a limits not less than One Million Dollars ($1,000,000) combined single limit for bodily per occurrence, Two Million Dollar ($2,000,000) annual aggregate covering liability arising from premises, operations, independent contractors, products-completed operations, personal injury, advertising injury and liability assumed under a contract; (ii) Property Damage Insurance on a Causes of Loss-Special Form basis covering on a replacement cost value all Above Standard improvements, fixtures, personal property damages and equipment located within the Premises; (iii) Business Interruption and Extra Expense insurance in such amounts as will reimburse Tenant for direct or indirect loss of earnings attributable to the perils insured against under this section; (iv) Workers’ Compensation insurance policy as required by the applicable state law, and Employers Liability insurance with limits of not less than Two One Million Dollars ($2,000,0001,000,000.00); (v) per occurrence and Three Automobile Liability insurance with single limit coverage of at least $1,000,000 for all owned, leased/hired or non-owned vehicles; (vi) If Tenant will serve or sell alcohol at the Project, a liquor liability insurance policy with minimum coverage of One Million Dollars ($3,000,0001,000,000.00); and (vii) in the annual aggregate, including products Excess/Umbrella liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions policy “following form” of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; not less than Four Million Dollars (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks$4,000,000), including a vandalism “drop down” feature in case the limits of the primary policy are exhausted. Landlord may also require all Outside Contractors to provide additional types of insurance coverages in amounts and malicious mischief endorsementtypes deemed necessary by Landlord, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipmentconstruction All-Risk Builder’s risks, Owners and Contractors Protective (OCP) Liability insurance, Professional Errors and Omissions liability insurance, and insurance covering all other perilssuch contractor’s equipment and tools. Each Liability insurance policy required to be maintained hereunder by Tenant shall name the following entities as Additional Insureds: Landlord, failures Parkway Operating Partnership, LP, Eola Capital LLC, and their direct and indirect parent companies and subsidiaries and any of their affiliated entities, successors and assigns, as well as their respective current or interruptions sufficient future directors, officers, employees, partners, members and agents. Tenant’s insurance shall be considered primary, not excess, and non-contributory with Landlord’s insurance policies. Insurance deductibles or retentions should be within reasonable and customary for policy holders in similar businesses and locations. An AXXXX 25 certificate of such insurance in the most recent edition available and reasonably satisfactory to cover a period Landlord, before the earlier of interruption the Commencement Date or ten (10) days after execution of the Lease, reflecting the limits and endorsements required herein, and renewal certificates shall be delivered to Landlord at least ten (10) days prior to the expiration date of any policy. Each policy shall be endorsed to provide notice of nonrenewal to Landlord and shall further provide that it may not less than twelve be materially altered or canceled without thirty (1230) monthsdays prior notice to Landlord. Landlord agrees to cooperate with Tenant to the extent reasonably requested by Tenant to enable Tenant to obtain such insurance. Landlord San Fxxxxx Plaza/Summer Energy Holdings, Inc. DocuSign Envelope ID: A1357CC3-ED4D-47DF-A5FB-22FC3BC9DEAD shall have the right to require increased limits if, in Landlord’s reasonable judgment, such increase is necessary. Tenant shall carry pay all premiums and maintain during the entire Term (including any option periodscharges for all of said policies, and, if applicable)Tenant shall fail to make any such payment when due or carry any such policy, Landlord may, but shall not be obligated to, make such payment or carry such policy, and the amount paid by Landlord, with interest thereon at Tenant’s sole cost and expensethe Default Rate, increased amounts of the insurance required shall be repaid to be carried Landlord by Tenant pursuant within ten (10) days following demand therefor, and all such amounts so repayable, together with such interest, shall be deemed to constitute additional Rent hereunder. Payment by Landlord of any such premium, or the carrying by Landlord of any such policy, shall not be deemed to waive or release Tenant from any remedy available to Landlord under this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by LandlordLease.
Appears in 1 contract
Samples: Commercial Lease Agreement (Summer Energy Holdings Inc)
Tenant’s Insurance. Tenant(a) The Tenant shall, shall at all times during its expense, obtain and maintain in force throughout the Term and any Extension Term and any period when it is in possession of this Leasethe Premises, in the name of the Tenant with the Landlord and at its own cost the Mortgagee (if any) as additional named insureds on all property insurance policies, save that the insurance policies referred to in sections 12.2(a)(i) and expense(ii) below shall name the Landlord as the insured with the Mortgagee (if any), procure and continue in force as additional named insured the following insurance coverage: insurance:
(i) Commercial General Liability Insuranceinsurance on the Building and the heating, written on an occurrence basis, with a combined single limit for bodily injury ventilating and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsair conditioning, and personal injury coverageother building equipment, covering machinery and systems, and boilers contained therein whether owned by the insuring provisions of this Lease and Landlord or the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of against those risks covered by standard fire, extended coverage and special extended coverage insurance (“all risks), ” (including a vandalism flood and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided earthquake) property policies in an amount equal to the full replacement value new without deduction thereof with such reasonable deductibles as would be carried by a prudent owner of a reasonably similar industrial building, having regard to size, age and location;
(ii) broad form boiler and machinery insurance on a blanket repair and replacement basis with limits for depreciation each accident in an amount of at least the replacement cost of the Premises and of all boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus relating to or serving the Premises;
(Aiii) Tenant Improvementspublic liability insurance written on a comprehensive basis with coverage against third party claims for bodily injury, Alterationsincluding death, fixtures in such amounts as are normally carried by prudent tenants of similar premises from time to time, but in no event less than five million dollars ($5,000,000.00) per occurrence;
(iv) standard owners form vehicle insurance providing third-party liability insurance with not less than three million dollars ($3,000,000.00) inclusive limits, and accident benefits insurance, covering all licensed vehicles owned or operated by or on behalf of the Tenant;
(v) business interruption insurance covering the Annual Base Rent, the Additional Rent and all other improvements costs and expenses in connection with the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover for a period of interruption of not less than twelve (12) monthsmonth period; and
(vi) such other forms of insurance and increases of the amount of coverage stipulated in the foregoing sections against such risks and in such amounts as may be customarily obtained by tenants of premises similar to the Premises and any other forms of reasonable and customary insurance as the Landlord and/or a Mortgagee, reasonably requires from time to time, in forms and amounts and for risks against which a prudent tenant would insure with a use similar to that of the Tenant.
(b) All insurance policies provided for in this section 12.2 shall:
(i) be taken out with insurers licensed to carry on the business of insurance in the Province in which the Premises are located;
(ii) be non-contributing with and apply only as primary and not excess to any other insurance available to either or both of the Landlord and the Mortgagee;
(iii) not be invalidated as respects the interests of all and any of the Landlord and the Mortgagee by reason of a breach or violation of warranties, representations declarations or conditions contained in the policies; and
(iv) contain an undertaking by the insurers to notify the Landlord and its Mortgagee in writing not less than thirty (30) days before any material change, cancellation, or termination. The Tenant shall carry may satisfy the foregoing insurance requirements by carrying blanket insurance policies and maintain during the entire Term through one or more insurance policies.
(including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts c) The proceeds of the insurance under Sections 12.2(a)(i) and 12.2(a)(ii) above shall be and are hereby assigned and made payable to the Landlord.
(d) If the Tenant shall fail to take out, renew and keep in force such insurance the Landlord may do so as the agent of the Tenant and the Tenant shall repay to the Landlord any amounts paid by the Landlord as premiums forthwith upon demand.
(e) The Tenant shall furnish to the Landlord certificates or other evidence acceptable to the Landlord as to the insurance from time to time required to be carried effected by the Tenant pursuant to this Article 14 Lease and such other reasonable types its renewal or continuation in force. No review or approval of any insurance coverage and in such reasonable amounts covering certificate or insurance policy by the Premises and TenantLandlord derogates from or diminishes the Landlord’s operations therein, as may be reasonably required by Landlordrights under this Lease.
Appears in 1 contract
Samples: Industrial Lease (Bway Corp)
Tenant’s Insurance. Tenant, shall at At all times during after the Term execution of this Lease, Tenant will carry and maintain, at its own cost and expenseexpense with insurance companies reasonably acceptable to Landlord that are rated no less than A-, procure and continue in force the following insurance coverageClass VI, by A.M. Best Company: (i) Commercial General Liability Insurancea commercial general liability insurance policy, written on an occurrence basisincluding insurance against assumed or contractual liability under this Lease, for liability arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto, including any portion of the Common Areas used by Tenant, to afford protection with a combined single limit for respect to bodily injury and injury, death or property damages damage (including loss of use) of not less than One Million Dollars ($1,000,000) each occurrence/Two Million Dollars ($2,000,000) per occurrence aggregate; (ii) an all-risks property and Three casualty insurance (special form building and personal property coverage) policy, including theft coverage, written at replacement cost value with replacement cost endorsements, covering all of the Tenant’s property; (iii) a worker’s compensation insurance policy with applicable statutory limits, (iv) automobile liability insurance with single limit coverage of at least $1,000,000 for all owned, leased/hired or non-owned vehicles, (v) an excess/umbrella liability policy “following form” of not less than Four Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks4,000,000), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers “drop down” feature in case the limits of the primary policy are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilitiesexhausted, and (Bvi) trade fixtures, furniture, equipment and other personal property installed by if Tenant will serve or sell alcohol at the expense Project, a liquor liability insurance policy with minimum coverage of Tenant; One Million Dollars (iii) Worker’s Compensation coverage $1,000,000). Landlord may also require all Outside Contractors to provide in addition to the insurance coverages referenced above such other insurance in amounts and types and with such companies as required may be reasonably requested by law; and (iv) business interruptionLandlord, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering construction all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term risk/builder’s risks (including any option periodsloss of revenue) insurance, if applicable)professional errors and omissions liability insurance, at Tenant’s sole cost and expense, increased amounts of the insurance covering such contractor's equipment and tools. Each insurance policy required to be carried maintained hereunder by Tenant pursuant to this Article 14 shall include an “Additional Insured Endorsement” in favor of Parkway Properties, Inc., its subsidiaries and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinaffiliated companies, as well as the employees, officers, directors and agents of such companies and any other designees of Landlord and shall be primary. An XXXXX 25 certificate of such insurance in a form reasonably satisfactory to Landlord, or certified copies of the policies, shall be furnished to Landlord on or before the earlier of the Commencement Date or ten (10) days after execution of the Lease, reflecting the limits and endorsements required herein, and renewal XXXXX 25 certificates or certified copies of renewal policies shall be delivered to Landlord at least ten (10) days prior to the expiration date of any policy. Each policy shall require notice of nonrenewal to Landlord and shall further provide that it may not be altered or canceled without thirty (30) days prior notice to Landlord. Landlord agrees to cooperate with Tenant to the extent reasonably required requested by Tenant to enable Tenant to obtain such insurance. Landlord shall have the right to require increased limits if, in Landlord’s reasonable judgment, such increase is necessary.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at At all times during after the Term execution of this Lease, Tenant will carry and maintain, at its own cost and expenseexpense with insurance companies reasonably acceptable to Landlord that are rated no less than A-, procure and continue in force the following insurance coverageClass IV, by A.M. Best Company: (i) Commercial General Liability Insurancea commercial general liability insurance policy, written on an occurrence basisincluding insurance against assumed or contractual liability under this Lease, for liability arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto, including any portion of the Common Areas used by Tenant, to afford protection with a combined single limit for respect to bodily injury and injury, death or property damages damage (including loss of use) of not less than One Million Dollars ($1,000,000) each occurrence/Two Million Dollars ($2,000,000) per occurrence aggregate; (ii) an all-risks property and Three casualty insurance (special form building and personal property coverage) policy, including theft coverage, written at replacement cost value with replacement cost endorsements, covering all of the Tenant’s property; (iii) to the extent required by applicable Law, a worker’s compensation insurance policy with applicable statutory limits, (iv) automobile liability insurance with single limit coverage of at least $1,000,000 for all owned, leased/hired or non-owned vehicles, (v) an excess/umbrella liability policy “following form” of not less than Four Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks4,000,000), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers “drop down” feature in case the limits of the primary policy are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilitiesexhausted, and (Bvi) trade fixtures, furniture, equipment and other personal property installed by if Tenant will serve or sell alcohol at the expense Project, a liquor liability insurance policy with minimum coverage of Tenant; One Million Dollars (iii) Worker’s Compensation coverage $1,000,000). Landlord may also require all Outside Contractors to provide in addition to the insurance coverages referenced above such other insurance in amounts and types and with such companies as required may be reasonably requested by law; and (iv) business interruptionLandlord, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering construction all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term risk/builder’s risks (including any option periodsloss of revenue) insurance, if applicable)professional errors and omissions liability insurance, at Tenantand insurance covering such contractor’s sole cost equipment and expense, increased amounts of the tools. Each insurance policy required to be carried maintained hereunder by Tenant pursuant to this Article 14 shall include an “Additional Insured Endorsement” in favor of Parkway Properties, Inc., its subsidiaries and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinaffiliated companies, as well as the employees, officers, directors and agents of such companies and any other designees of Landlord and shall be primary. An XXXXX 25 certificate of such insurance in a form reasonably satisfactory to Landlord, or certified copies of the policies, shall be furnished to Landlord on or before the earlier of the Commencement Date or ten (10) days after execution of the Lease, reflecting the limits and endorsements required herein, and renewal XXXXX 25 certificates or certified copies of renewal policies shall be delivered to Landlord at least ten (10) days prior to the expiration date of any policy. Each policy shall require notice of nonrenewal to Landlord and shall further provide that it may not be altered or canceled without thirty (30) days prior notice to Landlord. Landlord agrees to cooperate with Tenant to the extent reasonably required requested by Tenant to enable Tenant to obtain such insurance. Landlord shall have the right to require increased limits if, in Landlord’s reasonable judgment, such increase is necessary.
Appears in 1 contract
Samples: Lease Agreement (Us Dataworks Inc)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractscoverage, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures Improvements and other improvements Alterations in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilitiesfacilities installed by Tenant, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord; provided that (A) Landlord may not require Tenant to provide any new or increased insurance coverages more than once during the initial Term nor more than once during any Option Term, and (B) Landlord may not require Tenant to carry any type or amount of insurance coverages in excess of that generally required to be carried by comparable tenants in comparable building projects owned by comparable owners in the Sunnyvale market.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, Insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, Premises and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business 's telecommunications equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsinterruptions. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this LeaseLease (or if applicable, during the Early Entry Period), and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) -10- <PAGE> Commercial General Liability Insurance, written on an occurrence basis, Insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, Premises and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business 's telecommunications equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) monthsinterruptions. Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Samples: Lease Agreement
Tenant’s Insurance. TenantTenant shall maintain, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, coverages with a combined single limit for bodily injury and property damages limits of not less than Two Million Dollars the greater of ($2,000,000i) per occurrence and Three Million Dollars those set forth hereunder, ($3,000,000ii) in those evidenced on the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contractsdeclaration page of the pertinent insurance policy, and personal injury coverage(iii) those required by law.
8.04.2.1 Commercial General Liability Insurance issued on terms no less broad than the most current ISO CG 00 01 occurrence form, covering the insuring provisions insured against claims of this Lease bodily injury, personal and advertising injury and property damage (including loss of use thereof) arising out of Tenant’s operations, products/completed operations, social or host liquor liability (if applicable), and “insured contracts” (as defined by the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksmost current ISO CG 00 01 form), including a vandalism Separation of Insureds provision with no exclusion for cross-liability, and malicious mischief endorsementincluding the Additional Insureds (as defined hereunder) as additional insureds with respect to both ongoing and completed operations coverage on a primary and non-contributory basis, sprinkler leakage coverage for limits of liability of not less than:
(a) $1,000,000 each occurrence
(b) $2,000,000 annual aggregate per location
(c) $1,000,000 personal and earthquake sprinkler leakage where sprinklers are provided advertising injury
(d) $2,000,000 products-completed operations
8.04.2.2 Property Insurance covering (i) all office furniture, business and trade fixtures, office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s property on the Premises installed by, for, or at the expense of Tenant, and (ii) all Alterations and any other improvements made in the Premises by Tenant (the “New Improvements”). Such insurance shall be written on an amount equal to “all risks” of physical loss or damage basis, for the full replacement cost value (subject to reasonable deductible amounts) new without deduction for depreciation of all (A) Tenant Improvementsthe covered items and in amounts that meet any co-insurance clauses of the policies of insurance and shall include coverage for damage or other loss caused by fire or other peril including, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanicalto, plumbinghail, heatingwindstorm, ventilatingflood, air conditioningearthquake, electricalterrorism, telecommunication vandalism and other equipmentmalicious mischief, systems and facilitiestheft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, and explosion.
8.04.2.3 Business Income Interruption for one (B1) trade fixtures, furniture, equipment and other personal property installed by year plus Extra Expense insurance in such amounts as will reimburse Tenant for actual direct or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, indirect loss of income earnings attributable to the risks outlined in Section 8.04.2.2 above or for any forced closing due to governmental restrictions.
8.04.2.4 Auto Liability Insurance covering liability arising out of any auto, including owned (if any), non-owned, leased, and extra expense insurance covering any failure or interruption of Tenant’s business equipment (includinghired autos, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover with a period of interruption limit of not less than twelve (12) months. Tenant shall carry $1,000,000 combined single limit each accident for bodily injury and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordproperty damage.
Appears in 1 contract
Samples: Lease Agreement (Liquidia Corp)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability InsuranceAll-risk property insurance, written on insuring Tenant's interest in its improvements to the Premises and any and all furniture, fixtures, equipment, supplies, inventory, contents and other property owned, leased, held or possessed by Tenant and contained therein, such insurance coverage to include business interruption insurance in an occurrence basis, with a combined single limit for bodily injury and property damages of amount not less than Two Five Million and No/100 Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage 5,000,000). Such insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided shall be in an amount equal to the full replacement value new cost of such improvements and property, as such may increase from time to time, without deduction for depreciation depreciation, providing protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended peril (all risk), boiler and machinery, flood, glass breakage and sprinkler leakage, and naming Landlord as loss payee as its interest may appear;
(Aii) Tenant Improvements, Alterations, fixtures worker's compensation insurance required by applicable law;
(iii) comprehensive or commercial general liability insurance on an occurrence basis for injury to or death of a person or persons and other improvements in for damage to property occasioned by or arising out of any construction work being done on the Premises, including but not limited to all mechanicalor arising out of the condition, plumbinguse, heatingor occupancy of the Premises, ventilating, air conditioning, electrical, telecommunication and or other equipment, systems and facilitiesportions of the Building or Property, and covering Tenant's indemnification obligations imposed by Paragraph 15 of this Lease, the limits of such policy or policies to be in amounts not less than One Million and No/100 Dollars (B$1,000,000) trade fixtures, furniture, equipment in primary liability coverage and other personal property installed by or at the expense of TenantTwo Million and No/100 Dollars ($2,000,000) in excess liability coverage; (iii) Worker’s Compensation coverage as required by law; and and
(iv) business interruption, loss of income and extra expense primary automobile liability insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption with limits of not less than twelve One Million and No/100 Dollars (12$1,000,000) monthsper occurrence, covering owned and non-owned vehicles used by Tenant. Tenant shall carry and maintain during Landlord retains the entire Term (including any option periodsright, if applicable)in its sole discretion, at Tenant’s sole cost and expense, increased amounts to increase the amount of the insurance required to be carried by Tenant pursuant to this Article 14 not more frequently than annually based on such factors as inflation, Tenant's insurance claims history, the advice of Landlord's insurance advisors and such any other reasonable types relevant factors. Landlord and Tenant shall each have included in all policies of insurance coverage and respectively obtained by them with respect to the Building or Premises a waiver by the insurer of all right of subrogation against the other (and, with respect to Tenant's insurance, against Landlord's property manager) in such reasonable amounts covering connection with any loss or damage insured against. To the Premises and Tenant’s operations therein, as may be reasonably required full extent permitted by Landlord.law,
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during On or before the Term earlier to occur of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) the Commencement Date or (ii) the date Tenant commences any work of any type in the Premises pursuant to this Lease (which may be prior to the Commencement Date) and continuing throughout the Term, Tenant will carry and maintain, at Tenant’s expense, the following insurance, in the minimum amounts specified below or such other amounts as Landlord may from time to time reasonably request, with insurance companies and on forms reasonably satisfactory to Landlord:
(a) Commercial General Liability Insurance, written on an occurrence basisgeneral liability insurance, with a combined single occurrence limit and aggregate of not less than $1,000,000. AH such insurance will be on an occurrence ISO form including without limitation, bodily injury, property damage, personal injury, advertising injury, products and completed operations liability, contractual liability coverage for the performance by Tenant of the indemnity agreements set forth in this Lease and must include coverage for any claims arising from any dogs brought onto the Project by any of Tenant’s Agents;
(b) A policy of cause of loss-specialty property insurance coverage at least equal to ISO Special Form Causes of Loss and covering all of Tenant’s furniture and fixtures, machinery, equipment, stock and any other personal property owned and used in Tenant’s business and found in, on or about the Project, and any leasehold improvements to the Premises in excess of any initial buildout of the Premises by Landlord, in an amount not less than the full replacement cost;
(c) Worker’s compensation insurance insuring against and satisfying Tenant’s obligations and liabilities under the worker’s compensation laws of the state in which the Premises are located, including employer’s liability insurance in the limit of $1,000,000 aggregate;
(d) If Tenant operates owned, hired, or non-owned vehicles on the Project, comprehensive automobile liability will be carried at a limit of liability not less than $1,000,000 combined bodily injury and property damages damage;
(e) Umbrella liability insurance in excess of the underlying coverage listed in paragraphs (a), (c), and (d) above, with limits of not less than Two Million Dollars $4,000,000 per occurrence/$4,000,000 aggregate;
($2,000,000f) per occurrence Intentionally Deleted; and
(g) All insurance required under this Section 15.3 shall be issued by such good and Three Million Dollars ($3,000,000) reputable insurance companies qualified to do and doing business in the annual aggregate, including products liability coverage if applicable, owners state in which the Premises are located and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) having a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption policyholder rating of not less than twelve (12) months. Tenant shall carry “A” and maintain during a financial rating of “VIII” in the entire Term (including any option periods, if applicable), at Tenantmost current copy of Best’s sole cost and expense, increased amounts of Insurance Report in the insurance required to be carried by Tenant pursuant form customary to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordlocality.
Appears in 1 contract
Samples: Office Lease (McAfee Corp.)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, Insurance with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) per occurrence and Five Million Dollars ($5,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksperils), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvementstenant improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Workers’ Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance. Furthermore, Tenant shall be responsible, at its expense, for maintaining business interruption insurance covering any failure or interruption of Tenant’s business equipment on an “actual loss sustained basis” (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient with a liability limit equal to cover a period of interruption of not less than twelve (12) monthsmonths of business interruption exposure). To the extent landlords of Comparable Buildings are requiring the same, Tenant shall carry and maintain during the entire Lease Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance reasonably required to be carried by Tenant pursuant to this Article 14 14, and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single DOCPROPERTY "DocID" \* MERGEFORMAT limit for bodily injury and property damages of not less than One Million Dollars ($1,000,000) per occurrence and Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) umbrella/excess liability insurance in an amount of not less than Five Million Dollars ($5,000,000) for each occurrence and general aggregate; (iii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksspecial form), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the 100% full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of TenantTenant or otherwise located in the Premises and with such policy naming Landlord as loss payee as its interests may appear; (iiiiv) Worker’s Compensation and employers liability coverage as required by lawlaw and with limits of not less than $1,000,000, each accident, $1,000,000, disease policy limit, and $1,000,000, disease each employee (which policies shall contain waivers of subrogation in favor of Landlord); and (ivv) business interruption, loss of income and extra expense insurance covering with coverage that will reimburse Tenant for all direct and indirect loss of income and changes and costs incurred arising out of all named perils insured against by Xxxxxx’s policies of property insurance, including prevention of, or denial of use of or access to, all or any failure part of the Premises or interruption Building as a result of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions those named perils sufficient to cover a period of interruption of not less than twelve (12) monthsmonths of the loss of income, charges and costs contemplated under this Lease. Pollution Legal Liability insurance shall also be required if Tenant stores, handles, generates or treats Hazardous Materials on or about the Premises. Such coverage shall include bodily injury, sickness, disease, death or mental anguish or shock sustained by any person; property damage including damage to or destruction of tangible property including the resulting loss of use thereof, clean-up costs, and the loss of use of tangible property that has not been damaged or destroyed; defense costs, charges and expenses incurred in the investigation, adjustment or defense of claims for such compensatory damages; and diminution in value of the Building or any portion thereof. Such coverage shall apply to both sudden and non-sudden pollution conditions including the discharge, dispersal, release or escape of smoke, vapors, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or pollutants into or upon land, the atmosphere or any watercourse or body of water. Claims-made coverage is permitted for Pollution Legal Liability insurance, provided the policy retroactive date is as of the Commencement Date, and coverage is continuously maintained during all periods in which Tenant occupies the Premises. Coverage for Pollution Legal Liability insurance shall be maintained with limits of not less than $1,000,000 per incident with a $2,000,000 policy aggregate and for a period of two (2) years after Tenant ceases to occupy the Premises. Finally, Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, endorsement and sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption in an amount of not less than twelve Five Hundred Thousand Dollars (12) months$500,000.00). Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord, but Landlord shall only be entitled to require such increased amounts and/or other coverages if they are then generally required by owners of comparable office buildings in the San Diego, California area.
Appears in 1 contract
Samples: Office Lease (Mitek Systems Inc)
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, endorsement and sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, electrical telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption in an amount of not less than twelve Five Hundred Thousand Dollars (12) months$500,000.00). Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord, but Landlord shall only be entitled to require such increased amounts and/or other coverages if they are then generally required by owners of comparable office buildings in the San Diego, California area.
Appears in 1 contract
Tenant’s Insurance. TenantTenant shall obtain and keep in effect throughout the Lease Term, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure and continue in force the following insurance coverage: :
(i) Commercial General Liability Insurance, written on an occurrence basisBodily injury and property damage liability insurance, with a combined single occurrence limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per 2,000,000 written on an "occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability basis". All such insurance will be equivalent to coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) offered by a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (Commercial General Liability form including, without limitation, telecommunications personal injury and contractual liability coverage for the performance by Tenant of the indemnity agreements set forth in this Lease;
(ii) Insurance covering ail of Tenant's furniture and fixtures, machinery, equipment) , stock and covering all any other perilspersonal property owned and used in Tenant's business and found in, failures on or interruptions sufficient about the Shopping Center, and any leasehold improvements to cover the Premises in excess of the allowance, if any, provided pursuant to a period of interruption of work letter in an amount not less than twelve (12) monthsthe full replacement cost. Tenant shall carry and maintain during Property forms will provide coverage on a broad form basis insuring against "all risks of direct physical loss." All policy proceeds will be used for the entire Term (including any option periodsrepair or replacement of the property damaged or destroyed; however, if applicable)this Lease ceases under the provisions of Article 14, at Tenant will be entitled to any proceeds resulting from damage to Tenant’s sole cost 's furniture and expensefixtures, increased amounts machinery and equipment, stock and any other personal property;
(iii) Worker's compensation insurance insuring against and satisfying Tenant's obligations and liabilities under the worker's compensation laws of the state in which the Premises are located, including employer's liability insurance in the limits required to by the laws of the state in which the Shopping Center is located; and
(iv) If Tenant operates owned, hired or non-owned vehicles on the Shopping Center, comprehensive automobile liability will be carried by Tenant pursuant to this Article 14 at a limit of liability not less than $500,000 combined bodily injury and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordproperty damage.
Appears in 1 contract
Samples: Shopping Center Lease (Southern Concepts Restaurant Group, Inc.)
Tenant’s Insurance. TenantTenant shall, shall at all times during the Term of this Lease, and at its own sole cost and expense, procure and continue in force maintain the following insurance coveragecoverages in the following amounts during the Lease Term.
10.3.1 Commercial General Liability Insurance on an occurrence form covering claims arising out of Tenant's operations, including (i) property/operations liability; (ii) host liquor liability, (iii) personal and advertising injury liability; and (iv) contractual liability, for limits of liability of not less than the amounts shown below (which limits may be met with a combination of General Liability and Umbrella policies): Bodily Injury and Property Damage Liability $1,000,000 each occurrence$2,000,000 annual aggregate Personal and Advertising Injury Liability $1,000,000 each occurrence$2,000,000 annual aggregate Products & Completed Operations $2,000,000 annual aggregate
10.3.2 Commercial Property Insurance covering the following property that is owned by, held by, or the legal responsibility of Tenant including but not necessarily limited to: (i) Commercial General Liability Insuranceall office furniture, business and trade fixtures, equipment, free-standing cabinet work, movable partitions, merchandise, inventory and all other items of Tenant's property on the Premises installed by, for, or at the expense of Tenant, (ii) the Tenant Improvements, and any other {3925-00031/01363433;7} -28- SHORES CENTERSoleno Therapeutics, Inc. improvements which exist in the Premises as of the Lease Commencement Date (excluding the Base Building) (the "Original Improvements"), (iii) all other improvements, alterations and additions to the Premises; and (iv) any other property in which the Tenant retains the risk of loss including but not limited to electronic data processing equipment and employee personal property. Such insurance shall be written on an occurrence "all risks" of physical loss or damage basis, with a combined single limit no exclusions or coverage limitations for bodily injury wind and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregatehail, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to for the full replacement cost value new without deduction for depreciation of all (A) Tenant Improvementsthe covered items and shall include coverage for damage or other loss caused by fire or other peril including, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanicalto, plumbingvandalism and malicious mischief, heatingtheft, ventilatingwater damage, air conditioningincluding sprinkler leakage, electrical, telecommunication and other equipment, systems and facilitiesbursting or stoppage of pipes, and explosion, and providing business interruption coverage for a period of one (B1) trade fixtures, furniture, equipment and other personal property installed by or at the expense year. Policies shall also include (a) waiver of Tenant; (iii) Worker’s Compensation coverage as required by lawany coinsurance requirement; and (ivb) time element insurance covering business interruption, loss of income interruption and extra expense insurance covering any failure resulting from loss or interruption damage from the hazards specified above, to owned or non-owned property, which prevents normal operations from continuing.
10.3.3 Statutory Worker's Compensation and Employer's Liability coverage with limits of Tenant’s business equipment One Million Dollars (including, without limitation, telecommunications equipment$1,000,000) each accident for bodily injury by accident and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve One Million Dollars (12$1,000,000) months. Tenant shall carry each employee and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried policy limit for bodily injury by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlorddisease.
Appears in 1 contract
Tenant’s Insurance. Tenant(a) Tenant shall keep in force, shall at all times with companies licensed to do business in the State of New York, during the Term of this Leaseand such other times as Tenant occupies the Premises, and at its own cost and expense, procure and continue in force the following insurance coverageinsurance: (i) Commercial General Liability InsuranceInsurance on the Premises to afford protection against any and all claims for personal injury, written death or property damage occurring in, upon, adjacent to or connected with the Premises, in an amount not less than $1,000,000 for injury or death arising out of any one occurrence, and $1,000,000 for damage to property in respect of one occurrence, or in any increased amount reasonably required by Landlord; (ii) Business Auto Liability Insurance which insures against bodily injury and property damage claims arising out of ownership, maintenance or use of any type of automobile, and which affords limits of not less than $1,000,000.00 per occurrence; (iii) Workers Compensation Insurance in statutory limits for all employees and Employers Liability Insurance which affords limits of not less than $1,000,000 each coverage and policy limit; (iv) Umbrella Excess Liability insurance, on an occurrence basis, that applies in excess of the required general liability, business auto, and employers liability insurance, and which insures against bodily injury, property damage, personal injury, and advertising injury claims with a combined single limit for bodily injury limits of $5,000,000 each occurrence; and (v) “All Risk” property damages of not less than Two Million Dollars ($2,000,000) per occurrence insurance, including, sprinkler leakage and Three Million Dollars ($3,000,000) in the annual aggregateplate glass coverage, including products liability coverage if applicable, owners sprinkler leakage and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury plate glass coverage, covering the insuring provisions all of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) Tenant’s trade fixtures, furniture, furnishings, and equipment not affixed to the Premises, HVAC System serving the Premises, and other personal property covering all of the improvements installed in the Premises by or at for Tenant, in an amount not less than 100% of the expense of Tenant; (iii) Worker’s Compensation coverage as required by lawreplacement cost thereof, without co-insurance; and (ivvi) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption Business Interruption Insurance with limits of not less than 100% of twelve (12) monthsmonths of Minimum Annual Rent and Additional Rent. Notwithstanding anything to the contrary set forth in this Section 5.01(a), Tenant shall carry and increase the limits of its policy of Commercial General Liability Insurance in the event Landlord’s lender requires Tenant to maintain during the entire Term (including any option periodshigher limits than what is set forth in this Section, if applicable), at Tenant’s sole cost and expense, increased provided such amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordare commercially reasonable.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s 's Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s 's business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s 's sole cost and expense, reasonable increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s 's operations therein, as may be reasonably required by Landlord, but Landlord shall only be entitled to require such increased amounts and/or other coverages if they are then generally required by owners of comparable office buildings in the Bothell, Washington area.
Appears in 1 contract
Tenant’s Insurance. Tenant, Tenant shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force maintain the following insurance coverage: coverages in the following amounts:
(ia) Commercial General Liability Insurance, written Insurance payable on an occurrence basis“occurrence” rather than a “claims made” basis covering the insured against claims of bodily injury, with a combined single limit for bodily personal injury and property damages damage (including loss of not less than Two Million Dollars use thereof) arising out of Tenant’s operations, and contractual liabilities ($2,000,000covering the performance by Tenant of its indemnity agreements) per occurrence and Three Million Dollars containing coverage at least as broad as that provided under the then most current Insurance Services Office ($3,000,000ISO) in commercial general liability insurance form which provides the annual aggregatebroadest coverage, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, a Broad Form endorsement covering the insuring provisions of this Lease and the performance of by Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; Section 10.1 of this Lease, for limits of liability not less than:
(b) Physical Damage Insurance covering (i) all office furniture, business and trade fixtures, office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s property on the Premises installed by, for, or at the expense of Tenant, (ii) a policy the leasehold improvements in and to the Premises (including, without limitation, all Alterations), and any other improvements which exist in the Premises as of standard firethe Commencement Date (excluding the Base Building) (the “Original Improvements”), extended coverage and special extended coverage (iii) all other improvements, alterations and additions to the Premises. Such insurance (shall be written on an “all risks)” of physical loss or damage basis, including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to for the full replacement cost value (subject to reasonable deductible amounts) new without deduction for depreciation of all (A) Tenant Improvementsthe covered items and in amounts that meet any co-insurance clauses of the policies of insurance and shall include coverage for damage or other loss caused by fire or other peril including, Alterations, fixtures and other improvements in the Premises, including but not limited to, vandalism and malicious mischief, terrorism, earthquake sprinkler leakage, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, and explosion, and providing business interruption coverage sufficient to pay Base Rent and Tenant’s Share of Direct Expenses for a period of one year, and having a deductible amount, if any, not in excess of $25,000.
(c) Employer’s Liability or other similar insurance pursuant to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication applicable state and other equipment, systems local statutes and facilities, and regulations with limits of no less than $1,000,000.00.
(B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iiid) Worker’s Compensation coverage as required by lawthe Laws of the State where the Building is located with the following minimum limits of liability: Coverage A — statutory benefits; Coverage B — $1,000,000 per accident and disease.
(ive) business interruptionComprehensive Automobile Liability insuring bodily injury and property damage arising from all owned, loss non-owned and hired vehicles, if any, with minimum limits of income and extra expense insurance covering any failure or interruption liability of Tenant’s business equipment $1,000,000 per accident.
(including, without limitation, telecommunications equipmentf) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable)Lease Term, at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 10 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required requested by Landlord.
Appears in 1 contract
Tenant’s Insurance. Tenant, shall at At all times during after the Term execution of this Lease, Tenant will carry and maintain, at its own cost and expenseexpense with insurance companies reasonably acceptable to Landlord that are rated no less than A-, procure and continue in force the following insurance coverageClass VI, by A.M. Best Company: (i) Commercial General Liability Insurancea commercial general liability insurance policy, written on an occurrence basisincluding insurance against assumed or contractual liability under this Lease, for liability arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto, including any portion of the Common Areas used by Tenant, to afford protection with a combined single limit for respect to bodily injury and injury, death or property damages damage (including loss of use) of not less than One Million Dollars ($1,000,000) each occurrence/Two Million Dollars ($2,000,000) per occurrence aggregate; (ii) an all-risks property and Three casualty insurance (special form building and personal property coverage) policy, including theft coverage, written at replacement cost value with replacement cost endorsements, covering all of the Tenant’s property: (iii) a worker’s compensation insurance policy with applicable statutory’ limits, (iv) automobile liability insurance with single limit coverage of at least $1,000,000 for all owned, leased/hired or non-owned vehicles, (v) an excess/umbrella liability policy “following form” of not less than Four Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks4,000,000), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers “drop down” feature in case the limits of the primary policy are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilitiesexhausted, and (Bvi) trade fixtures, furniture, equipment and other personal property installed by if Tenant will serve or sell alcohol at the expense Project, a liquor liability insurance policy with minimum coverage of Tenant; One Million Dollars (iii) Worker’s Compensation coverage $1,000,000). Landlord may also require all Outside Contractors to provide in addition to the insurance coverages referenced above such other insurance in amounts and types and with such companies as required may be reasonably requested by law; and (iv) business interruptionLandlord, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering construction all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term risk/builder’s risks (including any option periodsloss of revenue) insurance, if applicable)professional errors and omissions liability insurance, at Tenantand insurance covering such contractor’s sole cost equipment and expense, increased amounts of the tools. Each insurance policy required to be carried maintained hereunder by Tenant pursuant to this Article 14 shall include an “Additional Insured Endorsement” in favor of Parkway Properties, Inc., its subsidiaries and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations thereinaffiliated companies, as well as the employees, officers, directors and agents of such companies and any other designees of Landlord and shall be primary. An XXXXX 25 certificate of such insurance in a form reasonably satisfactory to Landlord, or certified copies of the policies, shall be furnished to Landlord on or before the earlier of the Commencement Date or ten (10) days after execution of the Lease, reflecting the limits and endorsements required herein, and renewal XXXXX 25 certificates or certified copies of renewal policies shall be delivered to Landlord at least ten (10) days prior to the expiration date of any policy. Each policy shall require notice of nonrenewal to Landlord and shall further provide that it may not be altered or canceled without thirty (30) days prior notice to Landlord. Landlord agrees to cooperate with Tenant to the extent reasonably requested by Tenant to enable Tenant to obtain such insurance. Landlord shall have the right to require increased limits if, in Landlord’s reasonable judgment, such increase is necessary, provided, however, in no event shall Landlord increase the required coverage more frequently than every two (2) calendar years during the Term or to an amount in excess of that which is being required by Landlordowners of comparable office buildings located in the Virginia Beach, VA metropolitan area.
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Samples: Lease Agreement (ADS Tactical, Inc.)
Tenant’s Insurance. Tenant, shall at At all times during the Term of this LeaseTerm, Tenant will carry and maintain, at its own cost and Tenant's expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, the following insurance, in the amounts and on the forms specified below or such other amounts and on such other forms as Landlord may from time to time reasonably request, with insurance companies satisfactory to Landlord:
(a) Bodily injury to or personal injury to or death of any person, or more than one (1) person, or for damage to property in an amount of not less than $1 million combined single limit each Occurrence/General Aggregate and including a per location General Aggregate endorsement, together with fire legal liability coverage of not less than $50,000.00.
(b) Insurance covering all of Tenant's furniture and fixtures, machinery, equipment, and any other personal property owned and used in Tenant's business and found in, on, or about the Premises, and any leasehold improvements to the Premises in excess of the Allowance, if any, provided pursuant to the Build-to- Suit Letter, Exhibit B in an amount not less than the full replacement cost under Standard Fire and Extended Coverage Policy and all other risks of direct physical loss as insured against under Special Form ("all risk of direct physical loss" coverage). All such insurance will be written on the most current ISO Commercial Property Form. All policy proceeds will be used for the repair or replacement of the property damaged or destroyed; except, however, if this Lease ceases under the provisions of Article 18, Tenant will be entitled to any proceeds resulting from damage to Tenant's furniture and fixtures, machinery, equipment, and any other personal property in excess of the Allowance, if any, provided pursuant to the Build-to-Suit Letter, Exhibit B;
(c) Worker's compensation insurance insuring against and satisfying Tenant's obligations and liabilities under the worker's compensation laws of the state of Florida, and Employer's Liability Insurance in the limits required by the laws of the state of Florida but in an amount not less than $500,000.00 each accident, $500,000.00 decease - policy limit, $500,000.00 disease - each employee;
(d) If Tenant operates owned, hired, or non-owned vehicles on the Premises, the most current ISO Business Auto Coverage Form insurance with a combined single limit for bodily injury and property damages damage of not less than Two Million Dollars $1 million;
($2,000,000e) per occurrence and Three Million Dollars ($3,000,000) Umbrella liability insurance in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant excess of the indemnity and exemption of Landlord from liability agreements set forth underlying coverage listed in Article 13 hereof; Subsections (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risksa), including a vandalism and malicious mischief endorsement(b), sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (Ac) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (Bd) trade fixturesabove, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption with limits of not less than twelve $3 million per occurrence/$3 million aggregate and in including a per location General Aggregate endorsement; and
(12f) months. Tenant shall carry and maintain during the entire Term Such other insurance (including any option periods, if applicablewithout limitation plate glass insurance), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordof Tenant.
Appears in 1 contract
Samples: Single Tenant Building Lease (Sri Surgical Express Inc)
Tenant’s Insurance. Tenant(a) Tenant agrees that, from and after the date on which Tenant first enters into the Demised Premises, Tenant shall at all times during the Term of this Lease, and carry at its own sole cost and expense, procure and continue in force expense the following insurance coverage: types of insurance, in the amounts specified and in the form hereinafter provided for:
(i) Commercial General Liability Insurancegeneral liability insurance covering the Demised Premises and Tenant's use thereof against claims for contractual liability, written on an occurrence basispersonal injury or death, with a combined single limit for bodily injury and property damages damage, occurring upon or about the Demised Premises, such insurance to afford protection to the limit of not less than Two Million Dollars ($2,000,000) 5,000,000.00 per occurrence and Three Million Dollars ($3,000,000) in occurrence. The foregoing may be maintained using so-called “umbrella policies” provided the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; stated coverages are provided;
(ii) a policy Property damage insurance against “all-risks” of physical loss covering all of the items included in Tenant's Work and any non-structural Alterations made by Tenant within the core and shell of the Demised Premises pursuant to Article 14 hereof (whether paid for by Landlord or Tenant), trade fixtures, and Tenant's personal property from time to time located upon or about the Demised Premises, providing protection against perils included within standard fire, extended coverage forms of fire and special extended coverage insurance (all risks)policies, including a together with insurance against sprinkler damage, vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; mischief;
(iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense Business interruption insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover for a period of interruption of not less than at least twelve (12) months;
(iv) Worker's compensation insurance in the minimum amounts required by the State of Georgia, and Employers Liability Insurance in an amount not less than $500,000.00 per occurrence and
(v) Automobile liability insurance with a minimum combined single limit of liability of at least one million dollars ($1,000,000) including coverage for owned , non-owned and hired vehicles; and
(b) All such policies of insurance shall be issued in form and by issuers with a rating of “A-VIII” or higher by A.M. Best in the name of Tenant and shall name Landlord and parties designated in writing by Landlord as additional insureds with respect to the liability insurance coverage. All liability insurance obtained by Tenant shall carry be primary and maintain during the entire Term (including non-contributory with respect to any option periods, if applicable), at Tenant’s sole cost policies carried by an additional insured and expense, increased amounts provide a waiver of the insurer's right of subrogation against Landlord and any additional insured under Article 8. Tenant's insurance required to be policies shall contain only such deductible amounts as are commercially reasonable and consistent with the deductibles commonly carried by Tenant pursuant tenants of Comparable Buildings. Certificates evidencing each such policy shall be delivered to this Article 14 Landlord no later than the Delivery Date, and thereafter prior to the expiration of each such other reasonable types policy. All such policies of insurance coverage and in shall contain a provision that the company writing said policy will give Landlord at least ten (10) days' prior written notice of any cancellation of such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlordinsurance.
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