Common use of Builder's Risk Coverage Clause in Contracts

Builder's Risk Coverage. During any construction of Improvements, Tenant shall maintain or caused to be maintained in force until completion of the work, so-called “builder’s risk completed value insurance”, including vandalism and malicious mischief; covering Improvements in place and all material and equipment at the job site, but excluding contractor’s, subcontractor’s and construction manager’s tools and equipment and property owned by contractors or subcontractors’ employees, which shall have limits in an amount not less than the anticipated full replacement cost of the Improvements upon completion calculated as provided in Section 11.1.