Common use of Policy Limits Clause in Contracts

Policy Limits. Tenant’s insurance required under this Section 7 shall be written for not less than the following limits of liability (collectively the “Policy Limits”): A. Worker’s Compensation Insurance As Required by the Laws of the State of California B. Commercial General Liability Insurance* 1. Each Occurrence $1,000,000.00 2. General Aggregate $5,000,000.00 3. Products and Completed Operations Aggregate $5,000,000.00 4. Personal Injury $1,000,000.00 5. Fire Damage Legal -Per Fire $100,000.00 * Note: May Be Covered By Not Less Than $500,000.00 of Direct Coverage and the Balance Through Excess Liability or Umbrella Coverage Satisfactory to Landlord C. Automobile Liability Insurance $1,000,000.00** Bodily Injury and Property Damage - Per Accident. ** Note: May Be Covered By Not Less Than $200,000.00 of Direct Coverage and the Balance Through Excess Liability or Umbrella Coverage Reasonably Satisfactory to Landlord. D. Property Insurance In an amount equal to the full insurable replacement value of the System and other fixtures, improvements and structures of Tenant in, on or under the Premises, and also Tenant’s business and personal property located on the Premises. Use of actual cash value valuations for insurance purposes on Landlord’s property is prohibited unless expressly approved in advance by Landlord. Any deductible or self-insured retention as respects the above coverages shall be disclosed to Landlord. The cost and expense of any claim payment falling within the deductible shall be the sole and exclusive responsibility of Tenant.