Common use of Liability and Casualty Insurance Clause in Contracts

Liability and Casualty Insurance. Tenant shall, at Tenant's expense, -------------------------------- obtain and keep in force during the term of this Lease a policy of comprehensive general liability insurance, including personal injury liability, contractual liability, and completed operations liability (if applicable), insuring Landlord and Tenant against any liability arising out of the use, occupancy or maintenance of the Premises. Such insurance shall be in the amount of not less than One Million and no/100ths Dollars ($1,000,000.00) for bodily injury and property damage for any one accident or occurrence. Fire and casualty insurance with extended coverage in an amount of not less than Fifty Thousand and no/100ths Dollars ($50,000.00) covering Tenant's personal property and equipment shall also be obtained and kept in force during the term of this Lease at Tenant's expense. The limit of any of such insurance shall not limit the liability of Tenant hereunder. If Tenant fails to procure and maintain such insurance Landlord may, after ten (10) days notice and opportunity to cure, but shall not be required to, procure and maintain the same, at Tenant's expense to be reimbursed by Tenant as Additional Rent within ten (10) days of written demand. All insurance required to be obtained by Tenant hereunder shall be issued by companies reasonably acceptable to Landlord. Thirty (30) days prior to the Lease Commencement Date, Tenant shall deliver to Landlord certificates of liability insurance required herein with loss payable clauses satisfactory to Landlord. Any deductible under such insurance policy in excess of Ten Thousand and no/100ths Dollars ($10,000.00) must be approved by Landlord in writing prior to issuance of such policy. No policy shall be cancelable, allowed to lapse and/or expire and/or be subject to reduction of coverage except upon thirty (30) days' prior written notice to Landlord. All such policies shall name Landlord as named insureds and Tenant's casualty policies shall be written as primary policies not contributing with and not in excess of coverage which Landlord may carry. The policy limits set forth herein shall be subject to periodic review, and Landlord reserves the right to require that Tenant increase the liability coverage limits if, in the reasonable opinion of Landlord, the coverage becomes inadequate and is less than commonly maintained by tenants making similar uses of similar buildings in the vicinity of the Building. Tenant shall obtain any revised or increased coverage required by Landlord within sixty (60) days of any such notification from Landlord.

Appears in 2 contracts

Samples: Expansion Agreement (Call Points Inc), Lease Agreement (Vialog Corp)

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Liability and Casualty Insurance. Tenant shall, at Tenant's its expense, -------------------------------- obtain and keep in force force, for the mutual benefit of Landlord and Tenant, comprehensive general public liability insurance. Such insurance shall insure Landlord and Tenant against claims and liabilities for personal injury, death, or property damage arising from the use, occupancy, disuse, or condition of the Leased Premises, or adjoining areas or ways, providing protection of at least $1,000,000 for bodily injury or death to any one person and at least $1,000,000 for any one accident or occurrence, with an aggregate level of protection of $2,000,000. Tenant, at its expense, shall at all times during the term of this Lease a policy of comprehensive general liability insurance, including personal injury liability, contractual liabilityalso maintain fire, and completed operations liability (if applicable)extended coverage casualty insurance for the building and other improvements on the Premises, insuring with such comprehensive or so called “All risk” endorsements and in such amounts as Landlord and Tenant against any liability arising out may, from time to time, deem reasonably necessary, but in no case less than the full extent of the use, occupancy or maintenance insurable value of the building on the Premises. Such Tenant shall provide Landlord with certificates of insurance shall be in the amount of not less than One Million and no/100ths Dollars ($1,000,000.00) for bodily injury and property damage for any one accident or occurrence. Fire and casualty insurance with extended coverage in showing Landlord as an amount of not less than Fifty Thousand and no/100ths Dollars ($50,000.00) covering Tenant's personal property and equipment shall also be obtained and kept in force during the term of this Lease at Tenant's expenseadditional insured on such policies. The limit of any of such insurance certificates shall not limit the liability of Tenant hereunder. If Tenant fails to procure and maintain such insurance Landlord may, after ten (10) days notice and opportunity to cure, but shall not be required to, procure and maintain the same, at Tenant's expense to be reimbursed by Tenant as Additional Rent within ten (10) days of written demand. All insurance required to be obtained by Tenant hereunder shall be issued by companies reasonably acceptable to Landlord. Thirty (30) days prior to the Lease Commencement Date, Tenant shall deliver to Landlord certificates of liability insurance required herein with loss payable clauses satisfactory to Landlord. Any deductible under such insurance policy in excess of Ten Thousand and no/100ths Dollars ($10,000.00) must be approved by Landlord in writing prior to issuance of such policy. No policy shall be cancelable, allowed to lapse and/or expire and/or be subject to reduction of coverage except upon provide for a thirty (30) days' prior day written notice to LandlordLandlord in the event of cancellation or material change in the coverage. All such policies shall name In addition, Landlord as named insureds and Tenant's casualty policies shall be written permitted to retain any other insurance policies on the Premises as primary policies it deems appropriate to protect its interests. If Tenant does not contributing comply with this Section 3(b)(4) of this Lease, Landlord may, at its discretion and not in excess of coverage without notice to Tenant, pay all such amounts required to be paid by Tenant. Such amounts advanced by Landlord will be billed by Landlord to Tenant, as Additional Rent, which Landlord may carry. The policy limits set forth herein shall be subject to periodic review, and Landlord reserves the right to require that Tenant increase the liability coverage limits if, in the reasonable opinion of Landlord, the coverage becomes inadequate and is less than commonly maintained by tenants making similar uses of similar buildings in the vicinity of the Building. Tenant shall obtain any revised or increased coverage required pay to Landlord by Landlord within sixty (60) no later than 14 days of any after such notification from Landlordbilling.

Appears in 1 contract

Samples: Real Estate Lease (Can B Corp)

Liability and Casualty Insurance. Tenant shall, at Tenant's -------------------------------- expense, -------------------------------- obtain and keep in force during the term Term of this Lease a policy of comprehensive general liability insurance, including personal injury liability, liability and contractual liability, and completed operations liability (if applicable), insuring Landlord and Tenant against any liability arising out of the use, occupancy or maintenance of the Premises. Such insurance shall be in the amount of not less than One Million and no/100ths No/100ths Dollars ($1,000,000.00) for bodily injury and property damage for any one accident or occurrence. Fire and casualty insurance with extended coverage in an amount of not less than Fifty Thousand and no/100ths Dollars ($50,000.00) covering Tenant's personal property and equipment shall also be obtained and kept in force during the term of this Lease at Tenant's expense. The limit of any of such insurance shall not limit the liability of Tenant hereunder. If Tenant fails to procure and maintain such insurance insurance, Landlord may, after ten (10) days notice and opportunity to cure, but shall not be required to, procure and maintain the same, at Tenant's expense to be reimbursed by Tenant as Additional Rent additional rent within ten thirty (1030) days of written demand. All insurance required to be obtained by Tenant hereunder shall be issued by companies reasonably acceptable to Landlord. Thirty (30) days prior Prior to the Lease Commencement Date, Tenant shall deliver to Landlord certificates of liability insurance required herein evidencing Tenant's compliance with loss payable clauses satisfactory to Landlord. Any deductible under such insurance policy in excess of Ten Thousand and no/100ths Dollars ($10,000.00) must be approved by Landlord in writing prior to issuance of such policythis Section 11. No policy shall be cancelable, allowed to lapse and/or expire and/or be subject to reduction of coverage except upon thirty (30) days' prior written notice to Landlordlandlord. All such policies shall name Landlord as named insureds an additional insured and Tenant's casualty policies shall be written as primary policies not contributing with and not in excess of coverage which Landlord may carry. The policy limits set forth herein shall be subject to periodic review, and Landlord reserves the right to require that Tenant increase the liability coverage limits if, in the reasonable opinion of Landlord, the coverage becomes inadequate and is less than commonly maintained by tenants making similar uses in the area of similar buildings in the vicinity of the Buildingbuildings. Tenant shall obtain any revised or increased coverage required by Landlord landlord within sixty thirty (6030) days of any such notification from Landlord.

Appears in 1 contract

Samples: Commencement Date Agreement (Vialog Corp)

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Liability and Casualty Insurance. Tenant shall, at Tenant's expense, -------------------------------- obtain and keep in force during the term of this Lease a policy of comprehensive general liability insurance, including personal injury liability, liability and contractual liability, and completed operations liability (if applicable), insuring Landlord and Tenant against any liability arising out of the use, occupancy or maintenance of the Premises. Such insurance shall be in the amount of not less than One Million and no/100ths No/100ths Dollars ($1,000,000.00) for bodily injury and property damage for any one accident or occurrence. Fire and casualty insurance with extended coverage in an amount of not less than Fifty Thousand and no/100ths No/100ths Dollars ($50,000.00) covering Tenant's personal property and equipment shall also be obtained and kept in force during the term of this Lease at Tenant's expense. The limit of any of such insurance shall not limit the liability of Tenant hereunder. If Tenant fails to procure and maintain such insurance insurance, Landlord may, after ten (10) days notice and opportunity to cure, but shall not be required to, procure and maintain the same, at Tenant's expense to be reimbursed by Tenant as Additional Rent within ten (10) days of written demand. All insurance required to be obtained by Tenant hereunder shall be issued by companies reasonably acceptable to Landlord. Thirty (30) days prior to the Lease Commencement Date, Tenant shall deliver to Landlord certificates of liability insurance required herein with loss payable clauses satisfactory to Landlord. Any deductible under such insurance policy in excess of Ten One Thousand and no/100ths No/100ths Dollars ($10,000.001,000.00) must be approved by Landlord in writing prior to issuance of such policy. No policy shall be cancelable, allowed to lapse and/or expire and/or be subject to reduction of coverage except upon thirty (30) days' prior written notice to Landlord. All such policies shall name Landlord as named insureds an additional insured and Tenant's casualty policies shall be written as primary policies not contributing with and not in excess of coverage which Landlord may carry. The policy limits set forth herein shall be subject to periodic review, and Landlord reserves the right to require that Tenant increase the liability coverage limits if, in the reasonable opinion of Landlord, the coverage becomes inadequate and is less than commonly maintained by tenants making similar uses in the area of similar buildings in the vicinity of the Buildingbuildings. Tenant shall obtain any revised or increased coverage required by Landlord within sixty thirty (6030) days of any such notification from Landlord.

Appears in 1 contract

Samples: Lease (Tel Save Com Inc)

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