Insurance Expense definition

Insurance Expense means the amount of Insurance, as defined below, actually paid or incurred by Lessor in any calendar year (or portion thereof).

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Insurance Expense means the excess of (x), the sum of all costs of all fire and extended casualty Insurance and all liability insurance on the Project together with the costs of other insurance protections, including but not limited to, business interruption insurance, as are from time to time paid by Landlord with respect to the Project, for each year of the Term, over (y), the Insurance Expense for the 2000 calendar year (the "Base Year Insurance Expense").

Insurance Expense means all insurance premiums and other charges for insurance on or in respect to the Project, including liability, property, flood, loss of rents and other coverage. Lessee: Lessor:

Examples of Insurance Expense in a sentence

This cost is calculated as follows: Average Electric Station & Structures Plant in Service - $341,716,752 Total Insurance Expense - $ 630,532 Property Insurance as a % of Gross Plant $630,532 / $341,716,752 = 0.18% Estimated Monthly Property Insurance calculation: 1/12 x Property Insurance Rate x Substation CTOIF 1/12 x 0.0018 x $1,118,000 (to be adjusted by final actual costs) SERVICE AGREEMENT NO.
If Landlord does not provide Tenant with an estimate of the Expense Excess, the Tax Excess or the Insurance Expense Excess for any Adjustment Year by December 15th of the immediately preceding calendar year, Tenant shall continue to pay monthly installments based on the estimate for the previous calendar year if such year was an Adjustment Year, until Landlord provides Tenant with an estimate for the then current Adjustment Year.
Landlord shall provide Tenant with a good faith estimate of the Expense Excess, the Tax Excess and the Insurance Expense Excess for each Adjustment Year.
If the estimated Expense Excess, estimated Tax Excess or estimated Insurance Expense Excess for the applicable Adjustment Year is less than the actual Expense Excess, actual Tax Excess or actual Insurance Expense Excess, as the case may be, for such Adjustment Year, Tenant shall pay Landlord, within thirty (30) days after Tenant’s receipt of the applicable Final Statement, any underpayment for the applicable Adjustment Year.
On or before the first day of each month, Tenant shall pay to Landlord a monthly installment equal to one-twelfth of Tenant’s Share of Landlord’s estimate of the Expense Excess, Tax Excess and the Insurance Expense Excess.
The foregoing notwithstanding, prior to transferring any such funds out of its operating account, the Closed-End Servicer shall first deduct therefrom any unreimbursed Liquidation Expenses and Insurance Expense.
If National City is unable to obtain such Insurance Policy with the coverage required hereby within the Insurance Expense Cap, then National City shall use the full amount of the Insurance Expense Cap to obtain one or more alternate insurance policies with as much coverage as is commercially obtainable.
Tenant shall pay its pro rata share of the Insurance Expense in advance in equal monthly installments in such amounts as are estimated by Landlord at the beginning of each calendar year during the term, each such installment being made along with payments of base rent hereunder.
On the property/casualty side, broad expense categories and detail breakouts are required for both the Expense Exhibit in the annual Statutory Statement as well as the Supplemental Expense Filing, which is contained in the Insurance Expense Exhibit.
Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against the Land and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment ▇▇▇▇, the insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such calendar year.

More Definitions of Insurance Expense

Insurance Expense means all insurance premiums, expenses and costs paid by Landlord for casualty, property, rent loss, liability and other insurance carried by Landlord on and with respect to the Real Estate during a Lease Year. “Taxes” shall mean all Federal, State and local governmental taxes, assessments and charges (including special service area, transit, or other quasi-governmental taxes or assessments) of every kind or nature, whether general, special, ordinary or extraordinary, which shall be levied against the Real Estate or which Landlord or Tenant shall become obligated to pay because of, or in connection with, the ownership, leasing, management, control or operations of the Real Estate, as now or hereafter improved, or the personal property, fixtures, machinery, equipment, systems and apparatus located therein, or used in connection therewith, including without limitation any rental, gross receipts, capital levy or similar levies, charges, assessments or taxes based in whole or part, on the value, use or rents of the Real Estate, whether levied in substitution for, in lieu of, or in addition to, general real and/or personal property taxes. There shall be included in Taxes the amount of fees, costs and expenses (including attorney fees and appraisal costs) paid by Landlord during the Lease Year in seeking or obtaining a reduction of Taxes, and any late charges or penalties arising by reason of Tenant’s failure to timely pay Taxes as provided herein. Taxes shall not include any federal, state or local income, corporate, franchise, capital stock, inheritance, gift or estate taxes of Landlord or late payment charges or other penalties (except to the extent arising by reason of Tenant’s failure to timely pay Taxes as provided herein), except that if a change occurs in the method of taxation resulting in whole or in part the substitution of any such taxes or any other assessment for any Taxes described above, then such substituted taxes or assessments shall be included in Taxes. For purposes hereof, Taxes shall mean taxes paid or payable with during a given Lease Year, rather than the year such taxes are assessed or become a lien against the Real Estate. Taxes and Insurance Expense payable during the last Lease Year of the Term shall be prorated between Landlord and Tenant.

Insurance Expense. Stop" shall be as defined in the Preamble.

Insurance Expense means all costs or expenses incurred by Landlord for insurance premiums relating to the Complex or the Demised Premises which shall include, without limitation, the following insurance coverages: (i) "all risk" casualty and extended coverage; (ii) comprehensive general public liability insurance; (iii) rental interruption insurance; and (iv) such other insurance as may be carried from time to time by reasonable commercial landlords of comparable first-class office complexes in Fairfield County, Connecticut;

Insurance Expense means all premiums and deductibles paid or incurred by Landlord or on Landlord's behalf in respect of insurance for the Building and the fixtures, machinery and equipment in the Building, including (i) commercial general liability insurance, (ii) boiler and machinery insurance, (iii) "all-risk" casualty insurance, (iv) insurance for protection against acts of terrorism, including bioterrorism, and (v) workers' compensation, disability and such other insurance covering all persons employed at the Building.

Insurance Expense. All premiums paid for general and liability insurance associated with the "West" division.