Loss of Rent Clause Samples

Loss of Rent such matters in relation to the Estate not otherwise specifically mentioned in this part or effected under Clause five of the Lease as the Landlord may from time to time consider prudent;

Loss of Rent. It is hereby agreed that in the event of damage to the Insured Property by an insured peril, this policy extends to cover a) The additional rent incurred by the Insured for alternate premises for the Indemnity Period as specified in the Policy Schedule. b) The rent component of income which Insured was earning for the affected Insured premises before the loss event and will continue till the end of Indemnity Period specified in policy schedule Conditions a) The insurance on rent applies only if (any of) the building(s) at Your Premises specified in the Policy Schedule or any part thereof is unfit for occupation in consequence of its destruction or damage by the perils insured against and then the amount payable shall not exceed such portion of the Sum Insured on rent as the period necessary for reinstatement bears to the term of the Rent Insured. b) Certificate from the Local Municipal Authority or an Architect to the effect that premises in question are untenantable will be accepted as adequate proof of the fact that premises, in fact, have become untenantable. c) This insurance shall apply subject to the condition that Your Premises forms part of a building not being Kutcha Construction. d) The area for alternative accommodation may be equivalent to the area presently occupied. The Insured shall be at liberty to take alternative accommodation in any locality so long as it is within the Municipal limit of the city or town in which Your Premises is situated. e) For a given location, the indemnity shall be based on either the additional rent incurred or the rent component of income but not both. Indemnity Period: The period of Indemnity may be limited to the period during which the original premises remain untenantable as a result of occurrence of perils insured against. Maximum indemnity period not to exceed 24 months

Loss of Rent. Management Fees and parking fees insurance (to the extent that there are any) due to damage caused to the structure of the Project and/or the insured property as stated in Section 1.19.1 above, due to the risks detailed in Section 1.19.1 above, for an indemnity period of 12 months. The said insurance shall include an express clause regarding waiver of the right of subrogation towards the Lessee and anyone acting on its behalf provided that the said regarding waiver of the right of subrogation shall not apply in favor of a person who caused malicious damage. Notwithstanding the aforesaid, it is hereby agreed that the Lessor and/or the Management Company shall be entitled not to take out the insurance specified in this sub-section 1.19.4 above, in whole or in part, provided that the said exemption as stated in Section 1.20 hereunder shall apply as if the insurance was fully arranged. It is hereby agreed expressly that the arrangement of the insurances specified above shall not add to the liability of the Lessor and/or the Management Company beyond the provisions set forth in the Lease Agreement and/or the Management Agreement and/or derogate from the liability of the Lessee in accordance with the said agreement (except for the provisions set forth in Section (1.20) hereunder).

Loss of Rent. Granting up indemnity to the Insured, in the quality of Landlord, for the monthly amount of insured rents that the building ceases to provide him/ her with, because it cannot, totally or partially, be occupied as a result of the occurrence of a loss covered by this policy, up to the indemnity limit set out in the Particular Conditions. This guarantee is valid for a period which is reasonably considered as necessary for the execution of works to place the insured building back to the state it was in prior to the occurrence of loss. However, such period cannot, in any case, exceed 12(twelve) months.

Loss of Rent third party and property owner’s liability insurance at the Building for such sum as the Landlord may from time to time consider prudent; and/or

Loss of Rent. Such further rent to be payable on demand and the first payment to be in respect of the period commencing on the Insurance Rent Commencement Date up to the date of renewal of the premium concerned

Loss of Rent. If a "direct physical loss by or from inland flood" makes that part of the "insured premises" rented to others or held for rental by "you" not fit to live in, "we" cover the Loss of Rent of such location less any expenses that do not continue while it is not fit to live in. The sublimit shown in the SCHEDULE for Additional Living Costs And Loss of Rent is the total sublimit provided for this coverage D. Payment for Additional Living Costs And Loss of Rent will be for the shortest time required to repair or replace the damage.The periods of time under 1. Additional Living Costs and 2. Loss of Rent are not limited by expiration of this policy.

Loss of Rent. Deductible Unless stipulated otherwise in the Particular Conditions, this coverage is not subject to any deductible.

Loss of Rent. (This section is effective only if specified in Your Schedule) This section is extended to include loss of rent should loss or damage by an event covered under Section 1 (Premises) render the Premises unfit for occupation and the amount payable will not exceed 10% of the sum insured on the Premises for a maximum term of twelve months.