Common use of Public Liability Coverage Clause in Contracts

Public Liability Coverage. Tenant shall, commencing on the date it commences occupancy of the Demised Premises, and thereafter continually during the Demised Term, carry public liability insurance with respect to the Demised coinsureds. Such insurance policy shall have limits of liability of not less than $500,000 single limit and $500,000 for damage to property. Tenant shall furnish Landlord with certificates of insurance showing that such insurance is in force and not cancelable without ten (10) days' prior written notice to Landlord. On or before one hundred twenty (120) days prior to the expiration of the first three (3) lease years during the Demised Term, Landlord may give written notice to Tenant requiring that the limits of liability set forth in this Section 10.02 be increased for the renewal period of three (3) lease years to an amount comparable to the then standard limits of liability contained in public liability insurance policies for commercial leases in Kentucky. If Landlord and Tenant are unable to agree on the amount of the increase in the liability for the renewal period, such increase shall be determined by the majority decision of three arbiters, one of whom shall be appointed by Landlord, one by Tenant and the third by the other two arbiters, or if they are unable to agree on a third arbiter, by the senior Federal District Court Judge for the Western District of Kentucky. The fees and expenses of any arbiters shall be borne equally by Landlord and Tenant. Pending final determination of the amount of such increase, Tenant shall continue to carry public liability insurance in an amount not less than the amount required during the original lease term. However, within sixty (60) days after the amount of such increase, if any, is finally determined, Tenant shall carry public liability insurance as provided herein in an amount not less than the amounts so determined.

Public Liability Coverage. Tenant shall, commencing on the date it commences occupancy of the Demised Premises, and thereafter continually during the Demised Term, carry public liability insurance with respect to the Demised Premises in which both Landlord and Tenant shall be named as coinsureds. Such insurance policy shall have limits of liability of not less than $500,000 2,000,000 combined single limit for personal injury and $500,000 for damage to propertyproperty damage. Tenant shall furnish Landlord with certificates of insurance showing that such insurance is in force and not cancelable without ten (10) days' prior written notice to Landlord. On or before one hundred twenty (120) days prior to the expiration of the first three five (35) lease years during the Demised Term, Landlord may give written notice to Tenant requiring that the limits of liability set forth in this Section 10.02 11.2 be increased for the renewal period of three five (35) lease years to an amount comparable to the then standard limits of liability contained in public liability insurance policies for commercial leases in Kentucky. If Landlord and Tenant are unable to agree on the amount of the increase in the liability for the renewal period, such increase shall be determined by the majority decision of three arbiters, one of whom shall be appointed by Landlord, one by Tenant and the third by the other two arbiters, or if they are unable to agree on a third arbiter, by the senior Federal District Court Judge judge for the Western District of Kentucky. The fees and expenses of any arbiters shall be borne equally by Landlord and Tenant. Pending final determination of the amount of such increase, Tenant shall continue to carry public liability insurance in an amount not less than the amount required during the original lease term. However, within sixty (60) days after the amount of such increase, if any, is finally determined, Tenant shall carry public liability insurance as provided herein in an amount not less than the amounts so determined.