Rental Value Insurance Sample Clauses

Rental Value Insurance. Tenant shall obtain and maintain in force at all times during the Term hereof, at its own cost and expense, a policy of rental value insurance against loss of income derived from the operation of the Premises due to the risks referred to in Section 9.1 in an amount not less than the Annual Base Rent for one Lease Year due hereunder. Tenant may, at its election, carry such insurance as a coverage contained in a business interruption insurance policy.
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Rental Value Insurance. On and after the Rent Commencement Date and at all times during the Lease Term, Tenant shall keep and maintain, in the name of Landlord, with loss payable to Landlord and any Fee Mortgagee, as their interests may appear, rental value insurance covering risk of loss due to the occurrence of any of the hazards described in Section 12.02, in an amount not less than the annual Base Rent, plus the estimated annual taxes and assessments described in Section 8.01 hereof and the annual premiums for the insurance described in this Article 12 (other than the builder's risk insurance described in Section 12.03).
Sample 1
Rental Value Insurance. Kitty Hawk agrees to insure, from and after the Completion Date(1) the Leased Premises in the amount and with the coverage at least equal to the Required Rental Value Insurance Coverage by means of a policy or policies issued by reputable insurance companies, notwithstanding the premium costs or in the event at any time such policies are not available, then either (a) such insurance with such limits or amounts or other provisions as then obtainable for corporations of the State leasing buildings under leases similar to this Lease, or (b) a plan, in compliance with the law of the State and satisfactory to the Authority and Building Corp., which provides protection similar to the protection provided herein against the inability of Kitty Hawk to meet liabilities of Kitty Hawk that would otherwise have been satisfied by the proceeds of the rent or rental value insurance. In the case of either clause (a) or (b) of the preceding sentence, the limits, amounts and other provisions of such insurance or plan shall be such as are recommended by a recognized qualified independent Insurance Consultant satisfactory to the Authority and Building Corp. and who shall annually, or for such longer interval specified the Authority and/or Building Corp., review such plan and advise the Authority and Building Corp. of changes required therein in order to adequately protect the financial position of Kitty Hawk, and the Authority and Building Corp. shall be entitled to rely upon such advice to make its determination as to what is obtainable or most nearly provides protection similar to that herein required. Kitty Hawk may also insure such property under a blanket insurance policy or policies which cover not only such property but other properties. After completion of the Project, Kitty Hawk shall be responsible for all insurance obligations required under the terms of this Building Lease.
Sample 1
Rental Value Insurance. Lessor shall have the right and option in his sole discretion throughout the term hereof to obtain rental value insurance covering losses of up to 100% of the rental income hereunder from perils required to be insured against hereunder by Lessee, in amounts equal to at least six (6) months of rental income under this Lease, such insurance to be obtained from such insurance company as Lessor shall select in its sole discretion and any such policy shall name Lessor and/or Lessor’s mortgagee as the insureds thereunder. Lessee agrees to pay directly to such insurer or, at Lessor’s option, to reimburse Lessor, the full amount of all premiums for such rental insurance, immediately upon presentation to Lessee of a xxxx or invoice for same.
Sample 1
Rental Value Insurance. Commencing on the date hereof and continuing throughout the Term, Landlord may, at its option, keep in force a policy or policies with loss payable to Landlord and its lenders, insuring the loss of the full rental and other charges payable by Tenant to Landlord under this Lease for one (1) year (including all real estate taxes, insurance costs, and any scheduled rental increases). Said insurance shall provide that the period of indemnity for such coverage shall be extended beyond the date of the completion of repairs or replacement of the Premises if necessary to provide one full year's loss of rental revenues from the date of any such loss. Said insurance shall contain an agreed valuation provision in lieu of any co-insurance clause, and the amount of coverage shall be adjusted annually to reflect the projected rental income, property taxes, insurance premium costs, and other expenses, if any, otherwise payable by Tenant for the following twelve (12) month period.
Sample 1
Rental Value Insurance. Tenant shall obtain a rent or rental value insurance policy in amounts as required by the Building Lease. Such policy shall insure against loss of Minimum Monthly Rent during a period in which the Minimum Monthly Rent of Landlord is abated as a result of physical loss or damage to the Buildings on the Premises, however caused, with such exceptions only as are ordinarily required by insurers of buildings or facilities of a similar type.
Sample 1
Rental Value Insurance a. The insurance shall cover loss of rents resulting from an insured cause of loss under a “special form” or “all risks” policy.
Sample 1
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Related to Rental Value Insurance

  • Rental Value Lessor shall also obtain and keep in force during the term of this Lease a policy or policies in the name of Lessor, with loss payable to Lessor and any Lender(s), insuring the loss of the full rental and other charges payable by all lessees of the Building to Lessor for one year (including all Real Property Taxes, insurance costs, all Common Area Operating Expenses and any scheduled rental increases). Said insurance may provide that in the event the Lease is terminated by reason of an insured loss, the period of indemnity for such coverage shall be extended beyond the date of the completion of repairs or replacement of the Premises, to provide for one full year's loss of rental revenues from the date of any such loss. Said insurance shall contain an agreed valuation provision in lieu of any co-insurance clause, and the amount of coverage shall be adjusted annually to reflect the projected rental income, Real Property Taxes, insurance premium costs and other expenses, if any, otherwise payable, for the next 12-month period. Common Area Operating Expenses shall include any deductible amount in the event of such loss.

  • Property Insurance Building Improvements and Rental Value 9.2.1 Lessor shall obtain and keep in force a policy or policies of insurance in the name of Lessor, with loss payable to Lessor, any ground-lessor, and to any Lender insuring loss or damage to the Premises. The amount of such insurance shall be equal to the full insurable replacement cost of the Premises, as the same shall exist from time to time, or the amount required by any Lender, but in no event more than the commercially reasonable and available insurable value thereof. If the coverage is available and commercially appropriate, such policy or policies shall insure against all types of direct physical loss or damage (except the perils of flood and/or earthquake unless required by a Lender), including coverage for debris removal and the enforcement of any Applicable Requirements requiring the upgrading, demolition, reconstruction or replacement of any portion of the Premises as the result of a covered loss. Said policy or policies shall also contain an agreed valuation provision in lieu of any coinsurance clause, waiver of subrogation, and inflation guard protection causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted U.S. Department of Labor Consumer Price Index for All Urban Consumers for the city nearest to where the Premises are located. Lessee Owned Alterations and Utility Installations, Trade Fixtures, and Lessee’s personal property shall be insured by Lessee not by Lessor unless the item in question has become the property of Lessor under the terms of this Lease.

  • Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Xxxxxx as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Xxxxxx has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Xxxxxxxx abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Xxxxxxxx does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Xxxxxx may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower’s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.

  • Casualty Insurance The Lessor ☐ The Lessee ☐ The Parties (jointly) shall be responsible for obtaining and maintaining casualty insurance for the Premises for losses against fire.

  • FIRE INSURANCE The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE's use of the premises.

  • Landlord Insurance Insurance shall be procured by Landlord in accordance with its sole discretion. All awards and payments thereunder shall be the property of the Landlord, and Tenant shall have no interest in the same. Notwithstanding the foregoing, Landlord agrees to obtain building liability and hazard insurance required to be carried for the Property and Premises and adequate hazard insurance, which covers replacement cost of the Property and Premises.

  • Earthquake Insurance If Lessor desires to obtain some form of earthquake insurance in the future, if and when available, on terms acceptable to Lessor as determined in the sole and absolute discretion of Lessor, then as a condition of Lessor agreeing to waive the requirement for earthquake insurance, Lessee agrees that it will pay, as additional Rent, which shall be included in the monthly CAC, an amount not to exceed Forty Seven Thousand Eight Hundred and Thirty Three Dollars ($47,833) per year.

  • Insurance and Condemnation (i) The Issuer shall do or cause to be done all things that it may accomplish with a reasonable amount of cost or effort to cause each of the POAs for each Resort to (A) maintain one or more policies of “all-risk” property and general liability insurance with financially sound and reputable insurers, providing coverage in scope and amount which (x) satisfies the requirements of the declarations (or any similar charter document) governing the POA for the maintenance of such insurance policies and (y) is at least consistent with the scope and amount of such insurance coverage obtained by prudent POAs and/or management of other similar developments in the same jurisdiction; and (B) apply the proceeds of any such insurance policies in the manner specified in the relevant declarations (or any similar charter document) governing the POA and/or any similar charter documents of such POA. For the avoidance of doubt, the parties hereto acknowledge that the ultimate discretion and control relating to the maintenance of any such insurance policies is vested in the POAs in accordance with the respective declaration (or any similar charter document) relating to each Timeshare Property Regime.

  • Tenant’s Insurance Tenant shall maintain the following coverages in the following amounts.

  • Tenant Insurance Landlord shall not be liable to Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests for damages not proximately caused by Landlord or Landlord’s agents. Landlord will not compensate Tenant or anyone else for damages proximately caused by any other source whatsoever, or by Acts of God, and Tenant is therefore strongly encouraged to independently purchase insurance to protect Tenant, Xxxxxx’s family, Xxxxxx’s invitees, licensees, and/or guests, and all personal property on the leased premises and/or in any common areas from any and all damages.

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