LESSOR'S INSURANCE definition

LESSOR'S INSURANCE. Lessor will maintain hazard insurance covering one hundred percent (100%) actual cash value of the improvements throughout the Lease term. Lessor's insurance will not insure Lessee's personal property, leasehold improvements, or trade fixtures.
View Source
LESSOR'S INSURANCE means insurance carried by Lessor attributable or allocable to the Property for fire and extended coverage insurance, public liability and property damage insurance, rent loss insurance, and any other insurance which Lessor is required to carry by the holder of any Mortgage on the Property or any part thereof. “Insurance Base” means the product obtained by multiplying the Area of the Premises by Base Year 2000 Lessor’s Insurance Premium divided by Area of the Business Park.
View Source
LESSOR'S INSURANCE. Lessor shall take out and maintain in force throughout the Lease Term, in a company or companies authorized to do business in Massachusetts, casualty insurance on the Building (excluding "Lessee's Property", "Lessee's Work" and "Alterations") (as hereinafter defined), as to which Lessee is required to maintain insurance pursuant to Section 9.2 above) in an amount equal to the full replacement value of the Building (exclusive of foundations and those items set forth in the preceding parenthetical in this sentence), covering all risks of direct physical loss or damage and so-called "extended coverage" risks. This insurance may be maintained in the form of a blanket policy covering the Building as well as other properties owned by Lessor. Notwithstanding the foregoing provisions of this Section 9.4, Lessor shall have the right, at any time during the Lease Term, to self-insure all or any portion of the coverages required by this Section.
View Source

Examples of LESSOR'S INSURANCE in a sentence

  • TO THE EXTENT THAT IT IS NOT COVERED BY LESSOR OR LESSOR'S INSURANCE, LESSOR AND LESSEE SHALL NOT BE LIABLE TO THE OTHER OR THE OTHER'S AGENTS, EMPLOYEES, OR FAMILY FOR ANY DAMAGE TO PERSONAL PROPERTY RESULTING FROM ANY ACT, OMISSION, OR NEGLIGENCE OF ANY OTHER TENANT, VISITOR OR OCCUPANT OF THE OFFICE BUILDING.

  • BY LESSOR'S INSURANCE The TENANT shall be held responsible for losses, thefts, or damages caused to all goods and valuables transported or left by them or any other person on or in the vehicle during the rental period or after the return of the vehicle.

  • LESSEE AND ITS INSURANCE CARRIER WAIVES ANY RIGHT OR CLAIM TO SUBROGATION AGAINST ▇▇▇▇▇▇ AND/OR LESSOR'S INSURANCE CARRIER IN THE EVENT OF ANY LOSS OR DAMAGE TO THE UNIT AND/OR LESSEE'S PROPERTY THEREIN.

  • TO THE EXTENT THAT IT IS NOT COVERED BY LESSOR OR LESSOR'S INSURANCE, LESSEE SHALL INDEMNIFY LESSOR FOR AND SHALL HOLD LESSOR HARMLESS FROM, ALL FINES, CLAIMS, LIABILITIES AND SUITS (INCLUDING COSTS AND EXPENSES OF DEFENDING AGAINST SAME) RESULTING FROM ANY BREACH OR NONPERFORMANCE OF THE LEASE BY LESSEE OR LESSEE'S AGENTS, EMPLOYEES, FAMILY, LICENSEES, OR INVITEES.

  • LESSEE AND ITS INSURANCE CARRIER WAIVES ANY RIGHT OR CLAIM TO SUBROGATION AGAINST LESSOR AND/OR LESSOR'S INSURANCE CARRIER IN THE EVENT OF ANY LOSS OR DAMAGE TO THE SPACE AND/OR LESSEE'S VEHICLE THEREON.

  • LESSOR'S INSURANCE:......................................................................


More Definitions of LESSOR'S INSURANCE

LESSOR'S INSURANCE. LESSOR shall maintain all-risk property insurance with respect to the Building in an amount equal to the full replacement value of the Building.
View Source
LESSOR'S INSURANCE. Lessor shall at all times maintain "all risk" property insurance for the full replacement cost of the Building.
View Source