Common use of Liability Insurance Required Clause in Contracts

Liability Insurance Required. Lessee shall procure and maintain throughout the term of this Lease and any extension, at Lessee’s cost, public liability and property damage insurance from a company authorized to do business in the State of Oregon with the combined single limit of not less than $1,000,000 and the general aggregate of not less than $2,000,000 for bodily injury, death, personal property or property damage in connection with Lessee’s use or occupancy of the Leased Premises, or the exercise of enjoyment of rights or privileges granted by this Lease. Lessor shall have the right to require Lessee to increase the limits of such coverage from time to time to an amount deemed by Lessor to be reasonable in view of conditions and circumstances existing at the time of such increase. Such circumstances include any modification by either court ruling or legislative change to the maximum recovery allowed under the Oregon Tort Claims Act. The insurance shall name Lessor, its officers, agents, and employees as additional insureds with the stipulation that the insurance, as to the interests of Lessor, shall not be invalidated by any act or neglect or breach of contract by Lessee. Lessee shall provide Lessor with a certificate of insurance evidencing the required coverage, with a thirty (30) day notice of cancellation or material change in coverage and shall provide Lessor with such evidence that the policy remains in force as Lessor may require from time to time.

Liability Insurance Required. Lessee shall procure and maintain throughout the term of this Lease and any extension, at Lessee’s cost, public liability and property damage insurance from a company authorized to do business in the State of Oregon with the combined single limit of not less than $1,000,000 and the general aggregate of not less than $2,000,000 for bodily injury, death, personal property or property damage in connection with LesseeXxxxxx’s use or occupancy of the Leased Premises, or the exercise of enjoyment of rights or privileges granted by this Lease. Lessor shall have the right to require Lessee to increase the limits of such coverage from time to time to an amount deemed by Lessor to be reasonable in view of conditions and circumstances existing at the time of such increase. Such circumstances include any modification by either court ruling or legislative change to the maximum recovery allowed under the Oregon Tort Claims Act. The insurance shall name Lessor, its officers, agents, and employees as additional insureds with the stipulation that the insurance, as to the interests of Lessor, shall not be invalidated by any act or neglect or breach of contract by LesseeXxxxxx. Lessee shall provide Lessor with a certificate of insurance evidencing the required coverage, with a thirty (30) day notice of cancellation or material change in coverage and shall provide Lessor with such evidence that the policy remains in force as Lessor may require from time to time.