Common use of Insurance; Subrogation Clause in Contracts

Insurance; Subrogation. During the Rental Period, Lessee shall obtain and maintain, at its own expense, insurance covering property damage, theft and casualty and public liability and all risk property insurance, each in adequate amounts to fully cover its liability and indemnification obligations under this Lease and the LDW (if applicable). Upon Lessor’s request, Lessee will promptly provide Lessor with certificates of insurance satisfactory to Lessor evidencing such insurance coverage with Lessor added as loss payee and additional insured on each policy. In the event of any loss or damage to the Equipment, Lessor will have the right of subrogation with respect to any right of the Lessee to recover against any person, firm or corporation. Lessee will execute and deliver whatever instruments are required and do whatever else is necessary to secure such rights. Lessee will cooperate fully with Lessor and/or its insurer(s) in the prosecution of those rights and will neither take or permit nor suffer any action to prejudice Lessor’s rights with respect thereto. Lessee hereby assigns to Lessor the benefit of and proceeds from any and all insurance policies held by the Lessee covering the Equipment. Notwithstanding Lessee’s failure to obtain or maintain insurance in accordance with this Lease or to otherwise comply with the insurance requirements hereof or the insufficiency of Lessee’s insurance coverage, Lessee’s liability and indemnification obligations under this Lease will not be voided, limited or reduced and Lessor may claim against Lessee for recovery of any Losses.

Insurance; Subrogation. During the Rental Period, Lessee shall obtain and maintain, at its own expense, insurance covering property damage, theft and casualty and public liability and all risk property insurance, each in adequate amounts to fully cover its liability and indemnification obligations under this Lease and the LDW (if applicable). Upon Lessor▇▇▇▇▇▇’s request, Lessee will promptly provide Lessor with certificates of insurance satisfactory to Lessor evidencing such insurance coverage with Lessor added as loss payee and additional insured on each policy. In the event of any loss or damage to the Equipment, Lessor will have the right of subrogation with respect to any right of the Lessee to recover against any person, firm or corporation. Lessee will execute and deliver whatever instruments are required and do whatever else is necessary to secure such rights. Lessee will cooperate fully with Lessor and/or its insurer(s) in the prosecution of those rights and will neither take or permit nor suffer any action to prejudice Lessor’s rights with respect thereto. Lessee hereby assigns to Lessor the benefit of and proceeds from any and all insurance policies held by the Lessee covering the Equipment. Notwithstanding Lessee’s failure to obtain or maintain insurance in accordance with this Lease or to otherwise comply with the insurance requirements hereof or the insufficiency of Lessee’s insurance coverage, Lessee’s liability and indemnification obligations under this Lease will not be voided, limited or reduced and Lessor may claim against Lessee for recovery of any Losses.