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 replacement cost of the Arena, including all equipment, improvements and betterments owned by Licensor. Coverage shall be on an All Risk of physical loss or damage basis, including losses arising out of a terrorism event; (b) Employer’s liability insurance with the following minimum limits: bodily injury by accident - $[*****] each accident; bodily injury by disease - $[*****] policy limit and $[*****] each employee; (c) Statutory worker’s compensation coverage; (d) Disability insurance as required by the State of New York; (e) 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. Such insurance shall include, but not be limited to, contractual liability, premises operations, products, completed operations, personal injury, advertising injury, bodily injury and property damage; (f) Liquor liability insurance coverage having limits of not less than $[*****] for each common cause and in the aggregate; (g) Automobile liability insurance coverage for bodily injury and property damage with a combined single limit of no less than $[*****]; (h) Umbrella or excess liability coverage, following the terms, conditions, and extensions of coverages, to apply over the employer’s liability coverage in subsection (b) and above the primary coverages (e), (f) and (g), in an amount not less than $[*****] in the aggregate; (i) Employment practices liability insurance with minimum limits of $[*****]; (j) Media liability policy with limits of no less than $[*****] per claim/$[*****] aggregate. The liability insurance referred to in this Section 14.05, in paragraphs (e) and (h), shall include the Rangers and its Affiliates, and each of their respective directors, officers, employees, agents, successors and assigns, as additional insureds for claims arising in connection with Licensor’s operations. However, the insurance referred to in this Section 14.05 will be in excess of any insurance purchased and maintained by the Rangers. The Rangers shall also have the right to require Licensor, from time to time, to increase the scope and limits of any insurance coverage required to be carried herein, so long as such increase is commercially reasonable under the circumstances.