Common use of Insurance; Waiver of Subrogation Clause in Contracts

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 Lxxxxx’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.

Insurance; Waiver of Subrogation. Prior Landlord agrees to maintain an "all risk" (Special Form) insurance policy covering 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 Lxxxxx’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) Building in an amount not less than equal to the statutory requirements "replacement cost" thereof at such term is defined in the Replacement Cost Endorsement to be attached thereto, insuring against the perils of fire, lightning, vandalism, malicious mischief and loss of rent, extended by a Special Extended Coverage Endorsement to insure against all other risks of direct physical loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the State of Illinois in which the Premises are situated for use by insurance companies admitted in such state for the workmen’s compensation insurance and $100,000 for the employer’s liability insurance. Lessee shall maintain writing of such insurance in force throughout or risks located within such state. Subject to the Term provisions of this Lease Such insurance shall name Lessor and all beneficiariesLease, 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 such 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 sole benefit of Landlord and last years of the Leaseunder its sole control. If Lessee shall conduct any activity on the Leased Premises that result in a surcharge Tenant agrees to Lessor’s fire insurance premium, then, Lessee shall reimburse Lessor for the entire amount of such surcharge. Lessee shall paypay to Landlord, as Additional Rent, Lessee’s Percentage 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. Certificates evidencing such coverage, together with receipts evidencing payment of premiums on an estimated basistherefor, monthly 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, certificates evidencing the renewal thereof (bearing notations evidencing the payment of renewal premiums) shall be delivered to Landlord. Such certificates shall further provide that not less than thirty (30) days written notice shall be given to Landlord before such coverage may be canceled or changed. Anything in advance as provided for in Paragraph 6 below. Lessor and Lessee each hereby this Lease to the contrary notwithstanding, the parties hereto waive any and every claim all rights of recovery, claim, action or cause of action against each other, their agents, partners, officers, and employees, for recovery from the other tor any and all loss of or damage to their respective property which loss or damage is covered that may occur to the Premises hereby demised, or any improvements thereto, or the Building, or any improvements thereto, by valid and collectible reason of fire, the elements, or any other cause which could be insured against under the terms of "all-risk" Special Form insurance policies, but only to the extent regardless of cause or origin, including negligence of the parties hereto, their agents, partners, officers, and employees. Each party shall cause any policy of insurance proceeds received carried by it to include a waiver of subrogation in connection with such loss or damage under said insurance policiesfavor of the other party affecting the waiver of claims set forth in the immediately preceding sentence.

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 Lxxxxx’s occupancy Paragraph 8.1 of the Leased Lease is supplemented to provide that Lessor reserves the right, if there is a Breach by Lessee, or if required by any future lender having a security interest in all or any portion of the 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 to estimate 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 current actual cost of the Building insurance and to require that such other coverages as amount be paid in advance to Lessor may reasonably requireby Lessee monthly in advance with the payment of Base Rent. Such policy If Lessor so requires payment monthly in advance, the monthly payments shall be with that equal monthly amount which, over the number of months remaining before the month in which the premiums for the insurance become due, would provide a company and contain limits and coverage fund large enough to fully pay the insurance cost. When the actual amount of the applicable insurance cost is known, the amount of such equal monthly advance payment shall be adjusted as required to provide the funds needed to pay the applicable insurance cost when due. If the amounts paid to Lessor by Lessee under the provisions hereof are satisfactory insufficient to Lessor. discharge the obligations of Lessee to pay such insurance cost as the same becomes due, Lessee shall pay Lesseeto Lessor, upon Lessor’s Percentage of the premium on demand, such policy during the Term of the Lease. Premiums will be equitably prorated for the first and last years of the Leaseadditional sums as are necessary to pay such obligation. If the amounts paid to Lessor by Lessee hereunder exceed the amounts necessary to discharge the obligations of Lessee to pay such insurance cost, Lessor shall conduct any activity on credit to Lessee such overcharge against the Leased Premises next insurance cost payment that result in a surcharge is due. All monies paid to Lessor’s fire insurance premium, then, Lessee shall reimburse Lessor for the entire amount hereunder may be intermingled with other monies 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 shall not bear interest. In the event of a Breach by Lessee each hereby waive in the performance of any and every claim for recovery from obligations of Lessee under this Lease, then any balance of funds paid to Lessor under the other tor any and all loss provisions hereof may, at the option of or damage to their respective property which loss or damage is covered by valid and collectible insurance policiesLessor, but only to the extent of the insurance proceeds received in connection with such loss or damage be treated as an additional Security Deposit under said insurance policiesParagraph 5.

Insurance; Waiver of Subrogation. Prior Landlord is not an insurer of Tenant, its agents, servants, employees, customers, invitees or property and will not carry insurance thereon. Tenant shall carry and maintain, during the entire Term, and any extension or any renewal thereof, at Tenant's sole cost and expense, comprehensive general public liability insurance covering the Leased Premises and the conduct and operation of Tenant's business therein, insuring against the risks of death, personal injury, bodily injury and property damage, liability, with limits of not less than $1,000,000.00 for the death of or injury to one (1) person, $3,000,000.00 for the deaths of or injury to more than one (1) person arising out of a single accident or occurrence, and $500,000.00 for property damage arising out of a single accident or occurrence, as well as insurance covering Tenant's property located within the Leased Premises against loss by fire, extended coverage risks, theft, malicious mischief and vandalism in an amount equal to the full insurance value thereof. Such liability insurance shall contain an endorsement by which the insurer extends the coverage thereunder to include the contractual liability of Tenant arising by virtue of the hold harmless and indemnity provisions of this Lease, and shall include both Tenant and Landlord as named insured. Said insurance shall be primary and non-contributory with any insurance maintained by Landlord. All insurance required and licensed to do business in the state in which the Leased Premises are located. Tenant shall deliver to Landlord, a policy or policies of said insurance or a certificate thereof, with evidence of premium payment attached thereto, prior to the commencement of the Term hereofTerm, and from time thereafter not less than ten (10) days prior to time thereafter as required by Lessorthe expiration of said policy or policies. Said policy or policies shall provide that the same cannot be canceled, Lessee will provide Lessor with a certificate terminated, modified or amended without at least ten (10) days' prior written notice to Landlord. Tenant shall promptly notify Landlord of insurance any injury, death, damage or other evidence of (a) comprehensive liability insurance coverage, relative to Lxxxxx’s occupancy of loss occurring on or about the Leased Premises, with a combined single limit whether or not covered by any of $2,000,000such insurance. Anything in this Lease to the contrary notwithstanding, Landlord and Tenant hereby waive and release each other of and from any and all rights of recovery, claim(s), action(s) or causes of action against each other, their agents, officers and employees, for any loss or damage that may occur to the Leased Premises, the Building, or personal property within the Building (Building contents), by reason of fire, casualty or the elements, regardless of cause or origin, including negligence of Landlord or Tenant and their agents, officers and employees. Each party to this Lease agrees immediately to give each insurance company which has issued to its policies of fire and extended coverage insurance written notice of the terms of the mutual waiver as contained in this Paragraph, and (b) workmen’s compensation to have said insurance (including employer’s liability insurance) policies properly endorsed, if necessary, to prevent the invalidation of the insurance coverage by reason of the mutual waivers contained in an amount not less than this Paragraph. To the statutory requirements extent the provisions of this Paragraph 18 are inconsistent with any other provision of this Lease, this Paragraph l8 shall control. If any increase in the fire and extended coverage premiums paid by Landlord for the State Building is caused by Tenants use and occupancy of Illinois for the workmen’s compensation insurance and $100,000 for the employer’s liability insurance. Lessee Lease Premises, then Tenant 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 pay 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 rent 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 increase 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 policiesLandlord.

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 LxxxxxLessee’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 Lease. Such insurance (other than worker’s compensation insurance) shall name Lessor and all beneficiaries, agents, and mortgagees of lessor 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 for 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.