Common use of Self-Insured Clause in Contracts

Self-Insured. A. Landlord may accept self-insurance in lieu of the insurance policies set forth in this Article XIV and the attached Appendix-2 if Tenant provides to Landlord (1) A copy of the Certificate of Authority to Self-Insure its Worker’s Compensation obligations issued by the state(s) in which the Leased Premises will be located and a copy of the state-issued letter approving self-insurance for automobile liability, if required under this Master Lease; (2) Proof that Tenant’s net worth is at least ten (10) times the amount of Commercial General Liability insurance required by this Master Lease; and (3) A copy of Tenant’s most recently audited annual financial statements, with no negative notes, or the most recent Dun and Bradstreet report. B. If Landlord accepts self-insurance in lieu of the insurance policies set forth in this Article XIV and the attached Appendix-2, Tenant hereby agrees to the obligations of any endorsement or Certificate of Insurance required under Section 14.2, above, and that may be required under any appendix, amendment, or attachment hereto. Such obligations become Tenant’s obligations under this Master Lease.