Common use of Tenant’s Liability and Property Insurance Clause in Contracts

Tenant’s Liability and Property Insurance. During the Term, Tenant, at its expense, shall keep in full force and effect a policy of commercial general liability insurance insuring Landlord and Tenant from and against all claims, demands, actions or liability for injury to or death of any persons, and for damage to property arising from or related to the use or occupancy of the Premises or the operation of Tenant’s business and the business operated by Tenant and subtenants and concessionaires of Tenant in the Premises. No deductible will be carried under this coverage without the prior written consent of Landlord. The policy shall include coverage for property damage, bodily injury, premises/operations, contractual liability (including Tenant’s indemnity under this Lease), independent contractors, personal injury, product/completed operations, owned and nonowned automobiles, and, if applicable, liquor liability insurance. If required by Landlord, Tenant must carry building ordinance coverage. The insurance shall be written on an occurrence basis with coverage in a minimum amount of $1,000,000.00 per occurrence for bodily injury/property damage and $2,000,000.00 general aggregate limit. Tenant shall also maintain in full force and effect insurance covering all trade fixtures, merchandise, personal property, equipment and Tenant Improvements other than improvements paid by Landlord, in amounts no less than one hundred percent (100%) of the replacement value thereof, providing protection against any peril included within the classification of the “Fire and Extended Coverage”, including sprinkler damage, vandalism and malicious mischief. Tenant shall also maintain Worker’s Compensation Insurance with a limit no less than the amount required by law. During any construction on the Premises, Tenant shall cause its contractor to obtain a policy of general liability insurance in the same form as required of Tenant, a policy of builder’s risk insurance providing coverage for the expected value of Tenant’s Work when completed and Worker’s Compensation as required by law. All policies shall name Landlord, property manager, Landlord’s lender and any person, firms or corporations designated by Landlord as additional insures. No additional insured shall be liable for any payment for premiums. All additional insures shall be entitled to recovery for any loss occasioned to them, their servants, agents or employees by reason of negligence of Tenant, its officers, agents or employees. All policies shall contain a clause that the insurer will not cancel or change such coverage without first giving Landlord thirty (30) days prior written notice. All insurance shall be issued by an insurance company qualified to do business in the State in which the Entire Premises is located and having an overall rating of Class A- or better and a financial rating of Class V as rated in the most current available Best’s Key Rating Guide. Copies of all policies or certificates of insurance required hereunder shall be delivered to Landlord as a condition to Tenant’s entry onto the Premises. All policies shall be written as primary policies, not contributing with and not in excess of coverage which Landlord may carry. Landlord may increase the limits of liability required hereunder in the exercise of Landlord’s reasonable judgment. If this Lease is canceled by reason of damage or destruction and Tenant is relieved of its obligation to rebuild, any insurance proceeds for damages to the Premises, including all leasehold improvements, but excluding all fixtures, will belong to Landlord, free and clear of any claims by Tenant.

Tenant’s Liability and Property Insurance. During the Term, Tenant, at its expense, shall keep in full force and effect a policy of commercial general liability insurance insuring Landlord and Tenant from and against all claims, demands, actions or liability for injury to or death of any persons, and for damage to property arising from or related to the use or occupancy of the Premises or the operation of Tenant’s business and the business operated by Tenant and subtenants and concessionaires of Tenant in the Premises. No deductible will be carried under this coverage without the prior written consent of Landlord. The policy shall include coverage for property damage, bodily injury, premises/operations, contractual liability (including Tenant’s indemnity under this Lease), independent contractors, personal injury, product/completed operations, owned and nonowned automobiles, and, if applicable, liquor liability insurance. If required by Landlord, Tenant must carry building ordinance coverage. The insurance shall be written on an occurrence basis with coverage in a minimum amount of $1,000,000.00 per occurrence for bodily injury/property damage and $2,000,000.00 general aggregate limit. Tenant shall also maintain in full force and effect insurance covering all trade fixtures, merchandise, personal property, property and equipment and Tenant Improvements other than improvements paid by Landlord, in amounts no less than one hundred percent (100%) of the replacement value thereof, providing protection against any peril included within the classification of the “Fire and Extended Coverage”, including sprinkler damage, vandalism and malicious mischief. Tenant shall also maintain Worker’s Compensation Insurance with a limit no less than the amount required by law. During any construction on the Premises, Tenant shall cause its contractor to obtain a policy of general liability insurance in the same form as required of Tenant, a policy of builder’s risk insurance providing coverage for the expected value of Tenant’s Work when completed and Worker’s Compensation as required by law. All policies shall name the Landlord, the property manager, Landlord’s lender and any person, firms or corporations designated by Landlord as additional insures. No additional insured shall be liable for any payment for premiums. All additional insures shall be entitled to recovery for any loss occasioned to them, their servants, agents or employees by reason of negligence of Tenant, its officers, agents or employees. All policies shall contain a clause that the insurer will not cancel or change such coverage without first giving Landlord thirty (30) days prior written notice. All insurance shall be issued by an insurance company qualified to do business in the State in which the Entire Premises is located and having an overall rating of Class A- or better and a financial rating of Class V as rated in the most current available Best’s Key Rating Guide. Copies of all policies or certificates of insurance required hereunder shall be delivered to Landlord as a condition to Tenant’s entry onto the Premises. All policies shall be written as primary policies, not contributing with and not in excess of coverage which Landlord may carry. Landlord may increase the limits of liability required hereunder in the exercise of Landlord’s reasonable judgment. If this Lease is canceled by reason of damage or destruction and Tenant is relieved of its obligation to rebuild, any insurance proceeds for damages to the Premises, including all leasehold improvements, but excluding all fixtures, will belong to Landlord, free and clear of any claims by Tenant.. UNION CITY ENTERTAINMENT CENTER