Insurance; Waiver of Subrogation Clause Samples

Insurance; Waiver of Subrogation. 21.1. Landlord shall maintain insurance for the Building and the Project in amounts equal to full replacement cost (exclusive of the costs of excavation, foundations and footings, and without reference to depreciation taken by Landlord upon its books or tax returns) or such lesser coverage as Landlord may elect, provided that such coverage shall not be less than ninety percent (90%) of such full replacement cost or the amount of such insurance Landlord’s lender, mortgagee or beneficiary (each, a “Lender”), if any, requires Landlord to maintain, providing protection against any peril generally included within the classification “Fire and Extended Coverage,” together with insurance against sprinkler damage (if applicable), vandalism and malicious mischief. Landlord, subject to availability thereof, shall further insure, if Landlord deems it appropriate, coverage against flood, environmental hazard, earthquake, loss or failure of building equipment, rental loss during the period of repairs or rebuilding, workmen’s compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the foregoing, Landlord may, but shall not be deemed required to, provide insurance for any improvements installed by Tenant or that are in addition to the standard improvements customarily furnished by Landlord, without regard to whether or not such are made a part of or are affixed to the Building. Any costs incurred by Landlord pursuant to this Section 21.1 shall constitute a portion of Operating Expenses. 21.2. In addition, Landlord shall carry commercial general liability insurance with a single limit of not less than One Million Dollars ($1,000,000) for death or bodily injury, or property damage with respect to the Project. Any costs incurred by Landlord pursuant to this Section 21.2 shall constitute a portion of Operating Expenses. 21.3. Tenant shall, at its own cost and expense, procure and maintain in effect, beginning on the Term Commencement Date or the date of occupancy, whichever occurs first, and continuing throughout the Term (and occupancy by Tenant, if any, after termination of this Lease) commercial general liability insurance with limits of not less than Two Million Dollars ($2,000,000) per occurrence for death or bodily injury and not less than One Million Dollars ($1,000,000) for property damage with respect to the Premises. 21.4. The insurance required to be purchased and maintained by Tenant pursuant to this Lease shall name L...

Insurance; Waiver of Subrogation. Sublessee shall obtain and keep in full force and effect, at Sublessee’s sole cost and expense, during the Term, the insurance required under Section 10 of the Master Lease. Sublessee shall name Master Lessor and Sublessor as additional insureds under its liability insurance policy. The release and waiver of subrogation set forth in Section 10.5 of the Master Lease, as incorporated herein, shall be binding on the parties.

Insurance; Waiver of Subrogation. 18.1. Landlord shall maintain a policy or policies of insurance protecting Landlord against the following (all of which shall be payable by Tenant as Operating Expenses): 18.1.1. Fire and other perils normally included within the classification of fire and extended coverage, together with insurance against vandalism and malicious mischief, to the extent of the full replacement cost of the Premises, including, at Landlord's option, flood coverage, exclusive of trade fixtures, equipment and improvements insured by Tenant, with agreed value, full replacement and other endorsements which Landlord may elect to maintain; 18.1.2. Twenty-four (24) months of rental loss insurance and to the extent of 100% of the gross rentals from the Premises; 18.1.3. Comprehensive general liability insurance with a single limit of not less than $[***] for bodily injury or death and property damage with respect to the Premises, a general aggregate not less than $[***] for bodily injury or death and property damage with respect to the Premises, and not less than $[***] of excess umbrella liability insurance; and 18.1.4. At Landlord's sole option, environmental liability or environmental clean-up/remediation insurance in such amounts and with such deductibles and other provisions as Landlord may determine in its sole and absolute discretion. Notwithstanding the foregoing, Landlord may, at Landlord's option, request that Tenant procure and/or maintain, and pay directly, for one or more the foregoing policies of insurance, and Tenant shall exercise reasonable efforts to promptly procure such policies of insurance (or maintain such policies of insurance, as the case may be), and Landlord may require Tenant to name Landlord and Landlord's related parties as loss payees, in addition to other customary provisions related to Landlord's status as the owner of the Property. 18.2. Tenant shall, at its own cost and expense, procure and maintain during the Term the following insurance for the benefit of Tenant and Landlord (as their interests may appear) with insurers financially acceptable and lawfully authorized to do business in the state where the Premises are located: 18.2.1. Commercial General Liability insurance on a broad-based occurrence coverage form, with coverages including but not limited to bodily injury (including death), property damage (including loss of use resulting therefrom), premises/operations, personal & advertising injury, and contractual liability with limits of liabil...

Insurance; Waiver of Subrogation. Landlord agrees to maintain an "all risk " insurance policy covering the Building in an amount equal to the "replacement cost " thereof, insuring against the perils of fire, lightning, vandalism, malicious mischief and loss of rent and all other risks of direct physical loss. Subject to the provisions of this Lease, such insurance for the Building shall be for the sole benefit of Landlord and under its sole control. Tenant agrees to pay to Landlord, as Additional Rent, Tenant's Share of Landlord's cost of maintaining such insurance, together with such other insurance as Landlord deems reasonable and prudent. Said payments shall be made to Landlord immediately upon presentation to Tenant of Landlord's statement setting forth the amount due, which statement shall be accompanied by a copy of the premium notice received by Landlord. In the event any such amount is not paid within twenty (20) days after the presentation to Tenant of the amount so due, the unpaid amount shall bear interest at the Maximum Rate from the date of such presentation until paid by Tenant Any payment to be made pursuant to this paragraph with respect to the year in which this Lease commences, expires or otherwise terminates shall bear the same ratio to the payment which would be required to be made for the full year as the part of such year covered by the term of this Lease bears to a full year. Tenant shall procure and maintain throughout the term of this Lease a policy or policies of general commercial liability insurance, at its sole cost and expense, naming as additional insureds Landlord, and Landlord's managing agent and Tenant against all claims, demands or actions arising out of or in connection with: (i) the Premises; (ii) the condition of the Premises; (iii) Tenant's operations in and maintenance and use of the Premises; and (iv) Tenant's liability assumed under this Lease, the limits of such policy or policies to be in the amount of not less than $2,000,000.00 combined single limited/aggregate coverage. All such policies shall be procured by Tenant from responsible insurance companies satisfactory to Landlord, and any such coverage shall be deemed primary and non-contributory to any liability coverage secured by Landlord. Certificates evidencing such coverage, together with receipts evidencing payment of premiums therefor, shall be delivered to Landlord prior to the Commencement Date of this Lease. Not less than fifteen (15) days prior to the expiration date of such coverage,...

Insurance; Waiver of Subrogation. (a) Buyer shall, at its own cost and expense, throughout the term of this Contract maintain on the Winfield Parcel (i) commercial general liability insurance for bodily injury and/or property damage in the amount of Two Million and 00/100 Dollars ($2,000,000.00) single limit and Two Million and 00/100 Dollars ($2,000,000.00) per occurrence, and (ii) all-risk fire insurance in an amount equal to 100% of replacement cost (which replacement cost shall be determined by mutual agreement of the parties or, if the parties cannot agree, by an independent appraiser selected by mutual agreement of the parties) and otherwise sufficient to prevent Seller from becoming a co-- insured under said policies of insurance, but in no event less than the unpaid principal balance due under this Contract. Seller and Buyer shall both be named as insured parties in the insurance policies required above, as their interests may appear, and copies of all such policies shall be delivered to Seller on the Commencement Date and thereafter annually. (b) To the extent that no insurance coverage is invalidated and that the right of the waiving party to recover under its insurance is not prejudiced, Seller and Buyer each hereby release and relieve the other, and waive their entire right of recovery against the other for loss or damage arising out of or incident to the perils insured against under Section 9(a) of this Contract, which perils occur in, on, or about the Winfield Parcel, whether due to the negligence of Seller or Buyer or their agents, employees, contractors and/or invitees. Seller and Buyer shall, upon obtaining the policies of insurance required hereunder, give notice to the insurance carrier or carriers that the foregoing mutual waiver of subrogation is contained in this Contract. Each policy of insurance will include the waiver of subrogation set forth in this Section 9.

Insurance; Waiver of Subrogation. 5.01. Tenant will obtain and maintain fire and casualty insurance on the Premises during the term of the Lease in the amount equal to the amounts maintained on the date hereof, naming Landlord and Tenant as insureds thereunder as their respective interest may appear, and also naming all lienholders as mortgagees. 5.02. Tenant shall procure and maintain throughout the term of this lease a policy of insurance, at its sole cost and expense, insuring Tenant, Landlord, and all other persons designated by Landlord against any and all liability for injury to or death of a person, or persons, and for damage to or destruction of property occasioned by or arising out of or in connection with the use and occupancy of the Premises, or by the condition of the Premises, the limits of such policy or policies shall be equal to the amounts currently maintained by Tenant. 5.03. Tenant shall insure the contents of the Premises. Landlord shall not, except in the event of his gross negligence, have any liability or obligations to Tenant, its employees, agents, customers, contractors or any other third party for the contents of the Premises. 5.04. The insurance policy or policies to be provided by Tenant hereunder shall be issued by an insurance company or companies authorized to do business in the State of Georgia. At Landlord's request, certificates of insurance evidencing the insurance coverage will be delivered by Tenant to Landlord prior to the Commencement Date, together with receipts, evidence and payment of the premiums therefor. 5.05. If Tenant fails to provide all or any of the insurance required by this Section, or subsequently fails to maintain such insurance in accordance with the requirements of this Section, Landlord may (but will not be required to), and without waiving or releasing Tenant from any of Tenant's obligations, procure or renew such insurance, and any amounts paid by Landlord for such insurance will be additional rental due and payable on or before the next rental date, together with late charges and interest, if any, as provided in Section 2. 5.06. Landlord and Tenant shall each cause all policies of insurance maintained with respect to the Premises, respectively, to contain provisions that the insurance shall not be invalidated by each releasing the other of liability if such a provision is obtainable without any additional premium therefor or if such provision is obtainable with an additional premium therefor and the released party elects to pay a...

Insurance; Waiver of Subrogation. Tenant shall at all times during the Term (and prior to the Term with respect to any activity of Tenant at the Property) and at its own cost and expense procure and continue in force insurance as follows:

Insurance; Waiver of Subrogation. During the Term, Tenant shall comply with all of the insurance requirements imposed upon the Developer pursuant to the Comprehensive Agreement only to the extent the same are applicable to the Hotel Component. Landlord and Tenant, for themselves and their respective insurers, hereby release each other of and from any and all claims, demands, actions and causes of action, (including, without limitation, subrogation claims), for loss or damage to their respective property located within or upon, or constituting a part of the Premises, even if the loss or damage shall have been caused by the fault or negligence of the other party, or anyone for whom such party may be responsible, which loss or damage is covered by valid and collectible insurance policies, to the extent that such loss or damage is recoverable under such policies or, in the case of Landlord, if Landlord elects to self-insure. Landlord and Tenant shall each cause each insurance policy obtained by it to provide that each insurance company waives all rights of recovery by way of subrogation against the other party in connection with any damage covered by any such policy. The foregoing waiver of subrogation shall also apply in the event that Landlord elects to self- insure.

Insurance; Waiver of Subrogation. Prior to the commencement of the Term hereof, and from time to time thereafter as required by Lessor, Lessee will provide Lessor with a certificate of insurance or other evidence of (a) comprehensive liability insurance coverage, relative to L▇▇▇▇▇’s occupancy of the Leased Premises, with a combined single limit of $2,000,000, and (b) workmen’s compensation insurance (including employer’s liability insurance) in an amount not less than the statutory requirements for the State of Illinois for the workmen’s compensation insurance and $100,000 for the employer’s liability insurance. Lessee shall maintain such insurance in force throughout the Term of this Lease Such insurance shall name Lessor and all beneficiaries, agents, and mortgagees of lessor as additional insureds (on a primary and non-contributory basis) and shall include a specific waiver of subrogation. Lessor shall maintain a comprehensive insurance policy with respect to the Building including liability coverage, loss of rents, fire and other casualty insurance for the replacement cost of the Building and such other coverages as Lessor may reasonably require. Such policy shall be with a company and contain limits and coverage as are satisfactory to Lessor. Lessee shall pay Lessee’s Percentage of the premium on such policy during the Term of the Lease. Premiums will be equitably prorated for the first and last years of the Lease. If Lessee shall conduct any activity on the Leased Premises that result in a surcharge to Lessor’s fire insurance premium, then, Lessee shall reimburse Lessor for the entire amount of such surcharge. Lessee shall pay, as Additional Rent, Lessee’s Percentage of insurance premiums on an estimated basis, monthly in advance as provided for in Paragraph 6 below. Lessor and Lessee each hereby waive any and every claim for recovery from the other tor any and all loss of or damage to their respective property which loss or damage is covered by valid and collectible insurance policies, but only to the extent of the insurance proceeds received in connection with such loss or damage under said insurance policies.