Common use of Increases in Rates Clause in Contracts

Increases in Rates. The Lessee shall not do or omit or permit to be done or omitted upon the Leased Premises anything which shall cause any rate of insurance upon the Building or any part thereof to be increased or cause insurance to the cancelled. If any such rate of insurance shall be increased as aforesaid, the Lessee shall pay to the Lessor an amount of increase as Additional Rent. If any insurance policy upon the Building or any part thereof is cancelled or threatened to be cancelled by reason of the use or occupancy by the Lessee or any act or omission as aforesaid, the Lessee shall forthwith remedy or rectify such use, occupation, act or omission upon being requested to do so by the Lessor, and if the Lessee fails to remedy or rectify, the Lessor may at its option terminate this Lease forthwith and the Lessee shall immediately deliver up possession of the Leased Premises to the Lessor.

Appears in 2 contracts

Samples: Memorandum of Lease Agreement (NUCRYST Pharmaceuticals Corp.), Memorandum of Lease Agreement (NUCRYST Pharmaceuticals Corp.)

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Increases in Rates. The Lessee Tenant shall not do or do, omit or permit to be done or omitted upon the Leased Premises anything which shall cause any rate of insurance upon the Building Premises or any part thereof to be increased or cause insurance to the be cancelled. If any such rate of insurance shall be increased as aforesaid, the Lessee Tenant shall pay to the Lessor an Landlord the amount of the increase as Additional Rent. If any insurance policy upon the Building Premises or any part thereof is cancelled or threatened to be cancelled by reason of the use or occupancy by the Lessee Tenant or any act or omission as aforesaid, the Lessee Tenant shall forthwith remedy or rectify such use, occupation, act or omission upon being requested to do so by the LessorLandlord, and if the Lessee Tenant fails to so remedy or rectify, the Lessor Landlord may at its option terminate this Lease forthwith and the Lessee Tenant shall immediately deliver up possession of the Leased Premises to the LessorLandlord.

Appears in 2 contracts

Samples: And (NACG Holdings Inc.), Renewal Lease Agreement (Nacg Finance LLC)

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