No Double Coverage. Neither Tenant nor Landlord shall obtain or carry separate insurance covering the same risks as any Required Insurance unless Tenant, Landlord and Lender are included therein as named insured, with loss payable as provided in this Lease and the policy contains a first mortgagee endorsement in favor of the Lender. Tenant and Landlord shall immediately notify each other whenever any such separate insurance is obtained and shall deliver to each other the policies or certificates evidencing the same.
Appears in 2 contracts
Samples: Lease and Agreement of Lease (Techniclone Corp/De/), Lease and Agreement of Lease (Televideo Systems Inc)
No Double Coverage. Neither Tenant nor Landlord shall obtain or carry separate insurance covering the same risks as any Required Insurance unless Tenant, Landlord and Lender are included therein as named insured, with loss payable as provided in this Lease and the policy contains a first mortgagee endorsement in favor of the Lender. Tenant and Landlord shall immediately notify each other whenever any such separate insurance is obtained and shall deliver to each other the policies or certificates evidencing the same.
Appears in 2 contracts
Samples: Standard Lease Agreement (Source Interlink Companies Inc), Standard Lease Agreement (Source Interlink Companies Inc)
