Property and Casualty Insurance. The Company and its subsidiaries maintain property and casualty insurance (other than earthquake insurance) in favor of the Company and its subsidiaries with respect to each of the Communities, in an amount and on such terms as is reasonable for businesses of the type proposed to be conducted by the Company and its subsidiaries. The Company maintains earthquake insurance on the Communities to the extent described in the Prospectus. Neither the Company nor any subsidiary has received from any insurance company notice of any material defects or deficiencies affecting the insurability of any of the Communities (other than with respect to seismic activities).
Property and Casualty Insurance. Parent and the Subsidiaries maintain property and commercial general liability insurance in such amounts and covering such risks as Parent and the Subsidiaries reasonably consider adequate for the conduct of Parent and each Subsidiary’s businesses and the value of Parent’s and each Subsidiary’s properties and as is customary for publicly held companies engaged in similar businesses in similar industries, all of which property and casualty insurance is in full force and effect, except where the failure to maintain such property and casualty insurance would not reasonably be expected to have a Material Adverse Effect. There are no material claims by Parent or any Subsidiary under any such insurance policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause. Parent has no reason to believe that Parent and each Subsidiary will not be able to renew their respective existing property and casualty insurance as and when such coverage expires or will be able to obtain replacement property and commercial general liability insurance adequate for the conduct of the business and the value of its properties at a cost that would not reasonably be expected to have a Material Adverse Effect. Neither Parent nor any Subsidiary has received notice from any insurer or agent of such insurer that substantial capital improvements or other expenditures will have to be made in order to continue such property and casualty insurance.
Property and Casualty Insurance. TENANT covenants and agrees to maintain standard Property and casualty insurance covering its Property located in, on or about the Premises. Said insurance shall be replacement cost, all risk coverage for all leasehold improvements other than Building standard improvements. TENANT shall deliver a Certificate of Insurance from its insurer to LANDLORD'S agent prior to the Lease Commencement Date, and renewals thereof shall be delivered to LANDLORD'S agent at least thirty (30) days prior to the expiration of any such policy.
Property and Casualty Insurance. During the Term, Tenant shall, at its sole cost and expense, obtain, carry and maintain insurance, in an amount not less than the full insurable replacement value of any and all other buildings and improvements on the Premises, against fire and such other risks as are, from time to time, included in special form causes of loss Building and Personal Property Policy of insurance (or current ISO equivalent). Replacement value shall be set initially based on Landlord’s property coverage in existence prior to the Effective Date. Subsequent changes to the insured replacement value of property shall be determined by agreement of Landlord and Tenant, or if the parties are unable to agree, then by an architect, contractor, appraiser, appraisal company or insurance company approved by Landlord and Tenant, provided the method of valuation is approved by the insurance company providing insurance on the Premises. The policies of insurance required hereunder shall be obtained from insurance companies authorized to do business in the State of South Carolina with an A.M. Best rating of A- or greater. Upon Landlord’s request, Tenant shall deliver to Landlord certificates of such insurance policies, together with evidence ELECTRONICALLY FILED - 2020 Feb 14 2:23 PM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012 of the payment of the premiums therefor, prior to the expiration of the policy then in force. Each of such policies shall name Tenant as the first-party insured, Landlord as an additional insured, and any mortgagee of the Premises as mortgagee and/or loss payee as the Loan Documents dictate. Proceeds from property insurance coverage shall be payable to such parties as their respective interests may appear, and shall provide for not less than thirty (30) days written notice to Landlord prior to any cancellation or amendment of such policy. Reference is made to Section 14 of this Lease for liability and other insurance required to be carried and maintained by Tenant and Landlord.
Property and Casualty Insurance. The Company and the Subsidiaries maintain property and casualty insurance in such amounts and covering such risks as the Company and the Subsidiaries reasonably consider adequate for the conduct of the Company and each Subsidiary’s businesses and the value of the Company’s and each Subsidiary’s properties and as is customary for publicly held companies engaged in similar businesses in similar industries, all of which property and casualty insurance is in full force and effect, except where the failure to maintain such property and casualty insurance would not reasonably be expected to have a Material Adverse Effect. There are no material claims by the Company or any Subsidiary under any such insurance policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause. The Company has no reason to believe that the Company and each Subsidiary will not be able to renew their respective existing property and casualty insurance as and when such coverage expires or will be able to obtain replacement property and casualty insurance adequate for the conduct of the business and the value of its properties at a cost that would not reasonably be expected to have a Material Adverse Effect. Neither the Company nor any Subsidiary has received notice from any insurer or agent of such insurer that substantial capital improvements or other expenditures will have to be made in order to continue such property and casualty insurance.
Property and Casualty Insurance. Tenant covenants and ------------------------------- agrees to maintain standard property and casualty insurance covering its property located in, on or about the Premises. Said insurance shall be replacement cost, all risk coverage for all leasehold improvements other than the building standard improvements. Tenant shall deliver a Certificate of Insurance from its insurer to Landlord's agent prior to the Lease Commencement Date, and renewals thereof shall be delivered to Landlord's agent at least THIRTY (30) days prior to the expiration of any such policy.
Property and Casualty Insurance. (a) The Lessee shall, at its sole cost and expense, maintain or cause to be maintained at all times throughout the Lease Term, property and casualty insurance, or shall demonstrate pursuant to Section 6.6 of this Lease, that adequate self-insurance is provided, to keep the Facilities insofar as the same may be of an insurable nature constantly insured against loss or damage by fire, lightning and all other risks covered by the all risk extended coverage insurance endorsement then in use in the State in an amount equal to the Full Insurable Value of the Facilities (subject to reasonable loss deductible clauses not to exceed $25,000); provided, however, that during the Construction Period, if the Contractor under the Construction Contracts maintains in full force and effect a policy or policies of Builder’s Risk- Completed Value Form Insurance insuring the Project against fire, lightning and all other risks covered by the extended coverage endorsement then in use in the State to the Full Insurable Value of the Facilities (subject to reasonable loss deductible clauses not to exceed $25,000) then the insurance required by this subsection (a) shall not be required for such Construction Period with respect to the Project while the Project is so covered by such other insurance. The Full Insurable Value of the Facilities shall be determined once in every three Fiscal Years, commencing with the year ending March 31, 2021, by an architect, contractor, appraiser, appraisal company or one of the insurers, to be selected and paid by the Lessee and a report of such determination shall be filed with the Lessee, the Lessor and the Purchaser within 180 days after the end of such third Fiscal Year. The insurance required pursuant to this Section shall be maintained at the Lessee’s sole cost and expense. Such insurance may be maintained with a generally recognized responsible insurance company or companies authorized to do business in the State as may be selected by the Lessee. All such policies of insurance or certificates evidencing such coverage, and all renewals thereof, shall name the Lessee and the Lessor as insureds as their respective interests may appear, and shall contain a provision that such insurance may not be canceled by the issuer thereof without at least 30 days advance written notice to the Lessee and the Lessor.
Property and Casualty Insurance adequately insuring the Millennium Production Facilities and Millennium’s other assets against theft, damage, and destruction, on a replacement cost basis.
Property and Casualty Insurance. In addition to above specified insurance and as the Parties agree, Seller shall maintain any and all other types of insurance as reasonably necessary and commercially available to protect the Work from all risks of loss or damage before transfer of risk of loss to Purchaser and/or Owner. The cost of such insurance shall be Purchaser’s responsibility.
Property and Casualty Insurance. Parent maintains property and casualty insurance in such amounts and covering such risks as Parent reasonably considers adequate for the conduct of Parent and each Subsidiary’s businesses and the value of Parent’s and each Subsidiary’s properties and as is customary for publicly held companies engaged in similar businesses in similar industries, all of which property and casualty insurance is in full force and effect, except where the failure to maintain such property and casualty insurance would not reasonably be expected to have a Material Adverse Effect. There are no material claims by Parent or any Subsidiary under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause. Parent reasonably believes that Parent and each Subsidiary will be able to renew their respective existing property and casualty insurance as and when such coverage expires or will be able to obtain replacement property and casualty insurance adequate for the conduct of the business and the value of its properties at a cost that would not reasonably be expected to have a Material Adverse Effect. Neither Parent nor any Subsidiary has received notice from any insurer or agent of such insurer that substantial capital improvements or other expenditures will have to be made in order to continue such property and casualty insurance.
