Common use of Policies and Endorsements Clause in Contracts

Policies and Endorsements. (a) All insurance policies (other than workers’ compensation, fidelity bond and/or Manager’s professional liability coverage which shall be in the name of Manager and name Owner, Owner’s lenders and their appropriate Affiliates as an additional insured), provided under this Article X shall name Manager, Owner, and Owner’s lenders and their appropriate Affiliates as additional insureds and shall name Owner’s lenders as mortgagee and loss payee for building, contents and business interruption insurance (but specifically excluding Manager’s own business interruption insurance). The Party procuring such insurance shall deliver to the other Party certificates of insurance evidencing all policies so procured and, in the case of insurance about to expire, shall deliver certificates of insurance with respect to the renewal concurrent with the expiration of such policies. Any losses shall be paid to the insureds as their respective interests may appear. All policies of insurance provided for under this Article X shall have attached thereto an endorsement that such policy shall not be canceled or materially changed without at least thirty (30) days’ prior written notice to each named insured. Manager shall provide Owner with evidence of renewal of each policy at least thirty (30) days prior to the expiration thereof.