Common use of Insurance Covenants Clause in Contracts

Insurance Covenants. Under current law, the granting of a usufruct and bailment for hire does not impose upon the tenant any obligation to insure the property that is the subject of such grant; however, in this Lease, the parties, by operation of express covenant and not by operation of law, have provided that the tenant shall be responsible for insuring the Project.

Insurance Covenants. Under current law, the granting of a usufruct and bailment for hire does not automatically impose upon the tenant any obligation to insure the property that is the subject of such grant; however, in this LeaseAgreement, the parties, by operation of express covenant and not by operation of law, have provided that the tenant Company shall be responsible for insuring the Project.

Insurance Covenants. Under current law, the granting of a usufruct and bailment for hire does not impose upon the tenant any obligation to insure the property that is the subject of such grant; however, in this 2008 Lease, the parties, by operation of express covenant and not by operation of law, have provided that the tenant shall be responsible for insuring the Project.