Common use of THE BOROUGH’S INSURANCE Clause in Contracts

THE BOROUGH’S INSURANCE. (1) The Borough will maintain comprehensive general liability and property insurance for the Airport, Terminal and other facilities at the Airport during the Sublease Term. The insurance policy shall provide that any proceeds shall be made payable to or for the benefit of the Borough. (2) The Borough shall pay the premiums for such insurance; however the Sublessee may not use, nor authorize any of its employees, agents, contractors, representatives or other persons who are subject to its direction or control to use the Airport in any manner that will increase the Borough’s insurance rates or cause cancellation of any of the Borough’s insurance policies. If the rate of any insurance carried by the Borough is increased as a result of the use or actions of the Sublessee or its employees, agents, contractors, representatives or other persons who are subject to its direction or control, the Sublessee shall pay to the Borough the difference between the original premium and the increased premium the earliest of: (a) at least thirty (30) days before the date the Borough is obligated to pay the increased premium on the insurance; or (b) within sixty (60) days after the Borough delivers to the Sublessee a certified statement from the Borough’s insurance carrier stating that the rate increase was caused solely by the occupancy, activity or inactivity of the Sublessee or its employee, agent, contractor, representative or other person subject to its direction or control, on or near the Sublease Premises or on the Airport.

THE BOROUGH’S INSURANCE. (1) The Borough will maintain comprehensive general liability and property insurance for the Airport, Terminal and other facilities at the Airport during the Sublease Term. The insurance policy shall provide that any proceeds shall be made payable to or for the benefit of the Borough. (2) The Borough shall pay the premiums for such insurance; , however the Sublessee may not use, nor authorize any of its employees, agents, contractors, representatives or other persons who are subject to its direction or control to use the Airport in any manner that will increase the Borough’s insurance rates or cause cancellation of any of the Borough’s insurance policies. If the rate of any insurance carried by the Borough is increased as a result of the use or actions of the Sublessee or its employees, agents, contractors, representatives or other persons who are subject to its direction or control, the Sublessee shall pay to the Borough the difference between the original premium and the increased premium the earliest of: (a) at least thirty (30) days before the date the Borough is obligated to pay the increased premium on the insurance; or (b) within sixty (60) days after the Borough delivers to the Sublessee a certified statement from the Borough’s insurance carrier stating that the rate increase was caused solely by the occupancy, activity or inactivity of the Sublessee or its employee, agent, contractor, representative or other person subject to its direction or control, on or near the Sublease Premises or on the Airport.