Earthquake and Flood Insurance. In addition to any other insurance policies carried by Landlord in connection with the Building, Landlord may elect to procure and maintain in full force and effect during the Term with respect to the Building a policy of earthquake/volcanic action and flood and/or surface water insurance, including rental value insurance against abatement or loss of rent in the case of damage or loss covered under the earthquake/volcanic and flood and/or surface water insurance, in an amount up to one hundred percent (100%) of the full replacement cost (including debris removal and demolition) of the Building.
Earthquake and Flood Insurance. In addition to any other insurance policies carried by Landlord in connection with the Project, Landlord may elect to procure and maintain in full force and effect during the Term, with respect to the Project, a policy of earthquake/volcanic action and flood and/or surface water insurance, including rental value insurance against abatement or loss of rent in the case of damage or loss covered under such earthquake/volcanic and flood and/or surface water insurance, in an amount up to one hundred percent (100%) of the full insurance replacement value (including debris removal and demolition) of the Project improvements.
Earthquake and Flood Insurance. In addition to any other insurance ------------------------------ policies carried by Landlord in connection with the Buildings, Landlord may elect to procure and maintain in full force and effect during the Term with respect to the Buildings a policy of earthquake/volcanic action and flood and/or surface water insurance, including rental value insurance against abatement or loss of rent in the case of damage or loss covered under the earthquake/volcanic and flood and/or surface water insurance, in an amount up to one hundred percent (100%) of the full replacement cost (including debris removal and demolition) of the Buildings and the Tenant Improvements (excluding at Landlord's option, the Above Standard Tenant Improvements).
Earthquake and Flood Insurance. In addition to any other insurance policies carried by Landlord in connection with the Project, Landlord may, if requested by Landlord’s mortgage lender, elect to procure and maintain in full force and effect during the Term, with respect to the Project, a policy of earthquake/volcanic action and flood and/or surface water insurance, including rental value insurance against abatement or loss of Rent in the case of damage or loss covered under such earthquake/volcanic and flood and/or surface water insurance, in an amount up to one hundred percent (100%) of the full insurance replacement value (including debris removal and demolition) of the Project improvements. Verus Lease v06 -10- February 2, 2005 (8:51 pm)
Earthquake and Flood Insurance. The Club shall purchase and keep in force during the Term property insurance covering the Insured Property against all risk of direct physical loss due to the peril of earthquakes and floods. The amount of earthquake insurance to be required shall be determined by the results of an earthquake Probable Maximum Loss (PML) study, conducted every five (5) Lease Years by a reasonable professional consulting firm accredited to conduct such PML studies, selected by the Club and acceptable to the PFD. The PML will be based upon the most recent replacement cost appraised value of the Insured Property, provided that in no event shall the limit of earthquake insurance coverage be lower than $125,000,000. Earthquake Insurance shall be written with two percent (2%) deductible (or, if not available on commercially reasonable terms and costs, with the lowest deductible that is available on commercially reasonable terms), based upon the values at the location where damage is sustained. The Club shall also purchase and keep in force during the Term property insurance in the amount of $125,000,000 covering the Insured Property against direct physical loss due to the peril of flood.
Earthquake and Flood Insurance. Lessee shall not be required to obtain earthquake or flood insurance, and Lessor shall not be entitled to pass through to Lessee the cost of any earthquake or flood insurance which Lessor obtains.
Earthquake and Flood Insurance. In addition to any other insurance policies carried by Landlord in connection with the Project, Landlord may elect to procure and maintain in full force and effect during the Term, with respect to the Project, a policy of earthquake/volcanic action and flood and/or surface water insurance, including rental value insurance against abatement or loss of rent in the case of damage or loss covered under such earthquake/volcanic and flood and/or surface water insurance, in an amount up to one hundred percent (100%) of the full insurance replacement value (including debris removal and demolition) of the Project improvements. In the event that the cost of such insurance is not included in the Operating Expenses for the Base Calendar Year, and Landlord elects to procure such insurance after the Base Calendar Year, the Base Calendar Year Operating Expenses shall be adjusted to reflect the Operating Expenses Landlord would have paid had Landlord carried such insurance in the Base Calendar Year.
Earthquake and Flood Insurance. Notwithstanding anything to the contrary in Paragraph 8 (Insurance; Indemnity), Lessee shall obtain and keep in force during the Term a policy or policies of earthquake and flood insurance for the full replacement cost of the Premises, with a deductible of no more than 10% of the total insurable values of the Buildings at risk at the time of loss, per building, per occurrence of an earthquake or flood.
Earthquake and Flood Insurance. 7 3.3 Procedure.................................................................7 3.3.1 Estimated Monthly Installments...................................7
Earthquake and Flood Insurance. During the Term, Landlord shall procure earthquake and flood insurance insuring the Building and the Building General Work to fifty percent (50%) of its full replacement value and with a deductible not to exceed five percent (5%) of such replacement cost (collectively, the "Earthquake Insurance"). The premium for the Earthquake Coverage shall be paid by Tenant as Additional Rent. In the event of earthquake damage to the Building and the Earthquake Insurance proceeds together with the deductible amount is sufficient to repair or restore the Building and the Building General Work, such earthquake damage shall be considered an Insured Loss (as defined in Section 8.1.3, below), in which case (i) Landlord shall commence such repair and restoration in accordance with the provisions of Section 8, (ii) Landlord shall be responsible for the deductible amount under the policy of Earthquake Insurance, and (iii) Landlord shall promptly reimburse Tenant as Additional Rent an amount equal to the total premiums previously paid by Tenant for the Earthquake Insurance as of the date of such earthquake damage (or as of the date of the most recent earthquake in the event more than one earthquake should occur during the Term) plus interest thereon the prime interest rate announced from time to time by Bank of America, N.A. plus one percent (1%) but never to exceed the maximum legal rate (the "Interest Rate"). If however, the Earthquake Insurance proceeds together with the approved deductible amount are not sufficient to repair or restore the Building and the Building General Work or are otherwise not applied by the insurer to the repair or restoration of the Building and Building General Work, such earthquake damage shall be considered damage which is not an Insured Loss, and the parties shall then proceed in accordance with Section 8.3, below.
