LANDLORD'S INSURANCE COVERAGES Clause Samples
The "Landlord's Insurance Coverages" clause defines the types and extent of insurance policies the landlord is required to maintain for the property. Typically, this includes coverage for property damage, liability, and sometimes loss of rental income, ensuring that the building and common areas are protected against risks such as fire, theft, or natural disasters. By specifying these insurance obligations, the clause clarifies the landlord's responsibilities and helps protect both parties from financial loss due to unforeseen events affecting the property.
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LANDLORD'S INSURANCE COVERAGES. Landlord may maintain Landlord's Insurance Coverages. Landlord's Insurance Coverages consist of any insurance coverage reasonably maintained by Landlord in connection with the operation of the Project, which coverages may include: a public liability insurance policy; an all-risk property insurance policy, including coverage for rental loss on account of property damage; and workers' compensation coverage for personnel carrying out activities chargeable to Project Operating Expenses.
LANDLORD'S INSURANCE COVERAGES. Landlord shall maintain Landlord's Insurance Coverages. Landlord's Insurance Coverages consist of any insurance coverage reasonably maintained by Landlord in connection with the operation of the Project, which coverages may include: a public liability insurance policy; an all-risk property insurance policy, including coverage for rental loss on account of property damage; and workers' compensation coverage for personnel carrying out activities chargeable to Project Operating Expenses. During the term, Landlord shall maintain a policy or policies of insurance covering loss or damage to the Leased Premises, the Building or the Common Areas, which policy or policies shall include protection from rental loss, coverage for operating expenses resulting from loss or damage to the Leased Premises and protection from other hazards as normally insured in the industry and as are consistent for a first class office building. Such insurance shall be in an amount at least equal to the full replacement value of the Property (without deducting depreciation) against loss and damage that is customarily included under standard "all risk policies" and equal to the full replacement cost of the Leased Premises. Landlord shall also maintain a policy under an occurrence basis of general liability insurance insuring Landlord (and such other entities as are designated by Landlord and/or Tenant) as additional insurance against liability for personal injury, bodily injury and other damage to property arising or resulting from occurrences on or about the Building and Common Areas. Landlord shall also cause such respective insurance carriers to waive any and all rights of recovery against Tenant or against any offices, employees, partners, agents or representatives of Tenant for loss of or damage to property of Landlord or the property of others under its control to the extent such loss or damage is insured against or under any insurance Policy guaranteed by Landlord.
LANDLORD'S INSURANCE COVERAGES. Throughout the Term of this Lease, Landlord shall maintain, as a minimum, the following insurance policies: (1) property insurance for the Building’s replacement value (excluding property required to be insured by Tenant), less a commercially reasonable deductible if Landlord so chooses; and (2) commercial general liability insurance in an amount of not less than $3,000,000 per occurrence, $5,000,000 annual aggregate. Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary, including protection against loss or damage from earthquakes. Tenant shall pay Tenant’s Proportionate Share of the cost of all insurance carried by Landlord with respect to the Project as part of Operating Costs. The foregoing insurance policies and any other insurance carried by Landlord shall be for the sole benefit of Landlord and under Landlord’s sole control, and Tenant shall have no right or claim to any proceeds thereof or any other rights thereunder.
LANDLORD'S INSURANCE COVERAGES. (a) Tenant may request in writing that Landlord obtain property insurance, commercial generally liability insurance or such other insurance coverages as Tenant may reasonably request to Landlord. Landlord shall review any such written request from Tenant and, within ten (10) business days of such request, Landlord shall, in Landlord’s reasonable discretion, consent to the obtaining of such insurance requested or shall discuss and confer with Tenant to attempt to come to an agreement on the type and amount of insurance to be procured by Landlord, and if Landlord and Tenant come to an agreement with respect to such insurance, Landlord shall promptly and in good faith procure such insurance (“Tenant Directed Insurance”). Tenant shall pay in advance as additional rent any premiums, deductibles or other cost of any Tenant Directed Insurance in accordance with the procedures set forth in Section 3.5.
(b) Except for any Tenant Directed Insurance obtained by Landlord as set forth above, Landlord may, but is not required to, carry property insurance or any other insurance. Landlord shall provide Tenant with written notice of any insurance it obtains in connection with the Property. If Tenant does not request that Landlord carry property insurance or any other insurance and Landlord elects to do so, or if Tenant requests that Landlord carry the Tenant Directed Insurance and Landlord thereafter elects to carry insurance in excess of the Tenant Directed Insurance (any such insurance or excess insurance is referred to herein as “Landlord Elected Insurance”): (i) Landlord will carry such Landlord Elected Insurance at its own expense, (ii) it will have the sole right to all proceeds and benefits of the Landlord Elected Insurance; and (iii) it will not be required to add Tenant as an additional insured on the Landlord Elected Insurance.
(c) Notwithstanding any of the foregoing in Sections 8.3(a) and (b) above, whether or not Landlord obtains the Tenant Directed Insurance or the Landlord Elected Insurance, for purposes of Section 8.4 below Landlord shall be deemed to carry “all-risk” (now referred to as special form causes of loss) property insurance covering the Premises (including any additions, alterations or improvements thereto, except those alterations or improvements made by Tenant to the interior of the Premises following the Commencement Date) against loss or damage resulting from fire and other insurable loss (the “Building Insurance”). Such Building Insurance sh...
LANDLORD'S INSURANCE COVERAGES. Landlord must maintain Landlord’s Insurance Coverages. Landlord’s Insurance Coverages consist of any insurance coverage reasonably maintained by Landlord in connection with the operation of the Project, which coverages must include: a public liability insurance policy having limits of at least Three Million Dollars ($3,000,000.00) per occurrence; a “special form” property insurance policy covering the full replacement cost of the Project, including coverage for rental loss on account of property damage; and workers’ compensation coverage for personnel carrying out activities chargeable to Project Operating Expenses.