Common use of Licensor Insurance Coverage Clause in Contracts

Licensor Insurance Coverage. Licensor shall, from and after the Commencement Date, maintain at its expense in force the following minimum insurance: (a) Property insurance for the full one hundred percent (100%) of replacement cost of the Arena, including all improvements, and betterments and personal property owned by Licensor. Coverage shall be on an All Risk of physical loss or damage basis, including losses arising out of a terrorism event, and shall include business interruption and loss of rental income coverages in reasonable and customary amounts with customary deductibles; (b) Commercial general liability insurance covering against bodily injury and property damage having a limit of not less than $[*****] for each occurrence and a limit of not less than $[*****] in the aggregate for each occurrence. Coverages shall be in accordance with the ISO form or equivalent, for response to any occurrence in and about the Arena.. Such insurance shall include, but not be limited to, premises operations, products and completed operations, personal injury, advertising injury and independent contractors and containing provisions for separation of insureds or severability of interests. For so long as Licensor and the Knicks are under common control, coverage under the Licensor’s policy shall be in excess to any insurance required of the Knicks. The Licensor’s GL Policy shall be in such amount and with such policy limits so that the coverage and limits are adequate to maintain the Licensor’s Excess/Umbrella Policy without gaps in coverage between the Licensor’s GL Policy and the Licensor’s Excess/Umbrella Policy; (c) Umbrella or excess liability coverage, following the terms, conditions, and extensions of coverages, to apply over and above the primary coverages in subsection (b), and the employer’s liability coverage in subsection (d), in an amount not less than $[*****] in the aggregate; (d) Employer’s liability insurance with the following minimum limits: bodily injury by accident – $[*****] each accident; bodily injury by disease – $[*****] policy limit and $[*****] each employee; (e) Statutory worker’s compensation coverage; (f) Disability insurance as required by the State of New York.

Licensor Insurance Coverage. Licensor shall, from and after the Commencement Date, maintain at its expense in force the following minimum insurance: (a) Property insurance for the full one hundred percent (100%) of replacement cost of the Arena, including all improvements, and betterments and personal property owned by Licensor. Coverage shall be on an All Risk of physical loss or damage basis, including losses arising out of a terrorism event, and shall include business interruption and loss of rental income coverages in reasonable and customary amounts with customary deductibles; (b) Commercial general liability insurance covering against bodily injury and property damage having a limit of not less than $[*****] for each occurrence and a limit of not less than $[*****] in the aggregate for each occurrence. Coverages shall be in accordance with the ISO form or equivalent, for response to any occurrence in and about the Arena.. Such insurance shall include, but not be limited to, premises operations, products and completed operations, personal injury, advertising injury and independent contractors and containing provisions for separation of insureds or severability of interests. For so long as Licensor and the Knicks are under common control, coverage under the Licensor’s 's policy shall be in excess to any insurance required of the Knicks. The Licensor’s 's GL Policy shall be in such amount and with such policy limits so that the coverage and limits are adequate to maintain the Licensor’s 's Excess/Umbrella Policy without gaps in coverage between the Licensor’s 's GL Policy and the Licensor’s 's Excess/Umbrella Policy; (c) Umbrella or excess liability coverage, following the terms, conditions, and extensions of coverages, to apply over and above the primary coverages in subsection (b), and the employer’s 's liability coverage in subsection (d), in an amount not less than $[*****] in the aggregate; (d) Employer’s liability insurance with the following minimum limits: bodily injury by accident – $[*****] each accident; bodily injury by disease – $[*****] policy limit and $[*****] each employee; (e) Statutory worker’s compensation coverage; (f) Disability insurance as required by the State of New York.

Licensor Insurance Coverage. Licensor shall, from and after the Commencement Date, maintain at its expense in force the following minimum insurance: (a) Property insurance for the full one hundred percent (100%) of replacement cost of the Arena, including all improvements, and betterments and personal property owned by Licensor. Coverage shall be on an All Risk of physical loss or damage basis, including losses arising out of a terrorism event, and shall include business interruption and loss of rental income coverages in reasonable and customary amounts with customary deductibles; (b) Commercial general liability insurance covering against bodily injury and property damage having a limit of not less than $[*****] 1,000,000 for each occurrence and a limit of not less than $[*****] 5,000,000 in the aggregate for each occurrence. Coverages shall be in accordance with the ISO form or equivalent, for response to any occurrence in and about the Arena.. Such insurance shall include, but not be limited to, premises operations, products and completed operations, personal injury, advertising injury and independent contractors and containing provisions for separation of insureds or severability of interests. For so long as Licensor and the Knicks are under common control, coverage under the Licensor’s policy shall be in excess to any insurance required of the Knicks. The Licensor’s GL Policy shall be in such amount and with such policy limits so that the coverage and limits are adequate to maintain the Licensor’s Excess/Umbrella Policy without gaps in coverage between the Licensor’s GL Policy and the Licensor’s Excess/Umbrella Policy; (c) Umbrella or excess liability coverage, following the terms, conditions, and extensions of coverages, to apply over and above the primary coverages in subsection (b), and the employer’s liability coverage in subsection (d), in an amount not less than $[*****] 200,000,000 in the aggregate; (d) Employer’s liability insurance with the following minimum limits: bodily injury by accident – $[*****] 1,000,000 each accident; bodily injury by disease – $[*****] 1,000,000 policy limit and $[*****] 1,000,000 each employee; (e) Statutory worker’s compensation coverage; (f) Disability insurance as required by the State of New York.