Tenant’s Insurance Sample Clauses
The Tenant’s Insurance clause requires the tenant to obtain and maintain specific types of insurance coverage during the lease term. Typically, this includes liability insurance to protect against claims for injury or property damage occurring on the premises, and sometimes coverage for the tenant’s personal property. By mandating insurance, this clause ensures that both the landlord and tenant are protected from financial loss due to accidents, damages, or unforeseen events, thereby allocating risk and promoting responsible tenancy.
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Tenant’s Insurance. (a) Tenant, at its expense, shall obtain and keep in full force and effect during the Term:
(i) a policy of commercial general liability insurance on an occurrence basis against claims for personal injury, bodily injury, death and/or property damage occurring in or about the Building, under which Tenant is named as the insured and Landlord, Landlord’s Agent and any Lessors and any Mortgagees whose names have been furnished to Tenant are named as additional insureds (the “Insured Parties”). Such insurance shall provide primary coverage without contribution from any other insurance carried by or for the benefit of the Insured Parties, and Tenant shall obtain blanket broad-form contractual liability coverage to insure its indemnity obligations set forth in Article 25. The minimum limits of liability applying exclusively to the Premises shall be a combined single limit with respect to each occurrence in an amount of not less than $5,000,000; provided, however, that Landlord shall retain the right to require Tenant to increase such coverage from time to time to that amount of insurance which in Landlord’s reasonable judgment is then being customarily required by landlords for similar office space in Comparable Buildings. The self insured retention for such policy shall not exceed $10,000. Tenant may satisfy the limits of liability required herein with a combination of umbrella and/or excess policies of insurance, provided that such policies comply with all of the provisions hereof (including, without limitation, with respect to scope of coverage and naming of the Insured Parties);
(ii) insurance against loss or damage by fire, and such other risks and hazards as are insurable under then available standard forms of “Special Form Causes of Loss” or “All Risk” property insurance policies, insuring Tenant’s Property and all Alterations and improvements to the Premises (including the initial installations) to the extent such Alterations and improvements exceed the cost of the improvements typically performed in connection with the initial occupancy of tenants in the Building (“Building Standard Installations”), for the full insurable value thereof or replacement cost thereof, having a deductible amount, if any, not in excess of $25,000;
(iii) during the performance of any Alteration, until completion thereof, Builder’s Risk insurance on an “all risk” basis and on a completed value form including a Permission to Complete and Occupy endorsement, for full replacement v...
Tenant’s Insurance. Tenant shall maintain at all times during the Term or a renewal thereof:
(a) general liability providing coverage of the latest version of ISO form CG0001 or its equivalent, covering Tenant’s indemnity obligations under this Lease, subject to the terms and conditions of the policy, against claims for bodily injury and property damage, with completed operation endorsement, for any occurrence in or about the Building, including any sidewalk contiguous to or abutting the Demised Premises, under which Landlord and its agent and any Superior Mortgagee whose name and address have been furnished to Tenant shall be named as additional insured, with minimum limits of liability under such policy, including products liability and completed operations, shall be a combined single limit with respect to each occurrence in an amount of not less than Five Million ($5,000,000.00), per occurrence and aggregate, it being agreed and understood that such limit of coverage may be provided by Tenant’s commercial general liability policy in conjunction with an umbrella liability or excess liability policy;
(b) insurance against loss or damage by fire and such other risks and hazards (including, burglary, theft and breakage of glass within the premises) as are insurable under a Special Cause of Loss form or its equivalent, to Tenant’s property and Alterations, for the full replacement cost value thereof (including an “agreed amount” endorsement);
(c) business Interruption covering base Rent and Additional Rent for a period of at least one (1) year;
(d) worker’s compensation insurance and disability benefits insurance in statutory limits;
(e) when Alterations are in process, the insurance specified in Section 4.02(f). The limits of such insurance shall not limit the liability of Tenant. Tenant shall deliver to Landlord and any additional insureds, at least 10 days prior to the Commencement Date, such fully paid-for policies or certificates of insurance, in form reasonably satisfactory to Landlord issued by the insurance company or its authorized agent. Tenant shall procure and pay for renewals of such insurance from time to time before the expiration thereof, and Tenant shall deliver to Landlord and any additional insureds such renewal policy or a certificate thereof at least 30 days before the expiration of any existing policy. All such policies shall be issued by companies of recognized responsibility licensed to do business in New York State and rated by Best’s Insurance Reports ...
Tenant’s Insurance. (a) The Tenant will, at its expense, take out and maintain in full force and effect and in the names of the Tenant, the Landlord and the Mortgagee as their respective interests may appear, the following insurance:
(i) comprehensive general liability insurance in amounts and with policies in form satisfactory from time to time to Landlord and with insurers acceptable to the Landlord, the comprehensive general liability insurance in no event to be for less than two million dollars ($2,000,000.00) inclusive limits and all risks insurance on furniture, fixtures, and Improvements in an amount equal to the full insurable value thereof. Copies of each insurance policy shall forthwith upon execution be delivered to Landlord. Each such policy shall name Landlord as an additional insured as its interest may appear and the comprehensive general liability policy shall contain a cross liability clause. The cost or premium for each and every such policy shall be paid by Tenant. Tenant shall obtain from the insurers under such policies, undertakings to notify Landlord in writing at least ten (10) days prior to any cancellation thereof.
(ii) business interruption insurance in such amount as will reimburse the Tenant for direct or indirect loss of earnings and for such risks as would be carried by prudent Tenants.
(b) The Tenant’s policies will: (i) contain the Mortgagee’s standard mortgage clause (ii) be taken out with insurers reasonable acceptable to the Landlord and in a form reasonably satisfactory to the Landlord (iii) be noncontributing with and apply only as primary and not as excess to any other insurance available to the Landlord (iv) not be invalidated as respects the interests of the Landlord and the Mortgagee by reason of breach or violation of any warranties, representations, declarations, or conditions, contained in the policies; and (v) contain an undertaking by the insurers to notify the Landlord and the Mortgagee in writing not less than thirty (30) days prior to any material change, cancellation, or termination. The Tenant agrees that certificates of insurance in a form acceptable to the Landlord will be delivered to the Landlord as soon as practicable after the placing of the required insurance.
Tenant’s Insurance. Tenant, at its own expense, shall provide and keep in force with companies which are rated A/XV or better by A.M. Best Company and licensed in the Commonwealth of Massachusetts: (a) combined single limit commercial general liability insurance insuring against liability for personal injury and property damage, including contractual liability, in the amount of $1,000,000.00 per occurrence/$1,000,000.00 annual aggregate limit; (b) “All Risk” or “Special Form” property insurance, including standard fire and extended coverage insurance, in amounts necessary to provide full replacement cost coverage, for Tenant’s Property, business personal property, machinery, electronic data and any Alterations in which Tenant has an insurable property interest, including, but not limited to, vandalism and malicious mischief and sprinkler leakage coverage, and, during any period that is conducted by Tenant at the Premises, “all risk” Builder’s Risk insurance, completed value, non-reporting form at any time that Tenant has commenced construction of any leasehold improvements or any Alterations; (c) business income insurance covering all risks required to be covered by the insurance provided in clause (b) above in an amount equal to 100% of the projected gross revenues from the operation of Tenant’s business for a period of at least twelve (12) months from the date of the casualty; (d) Workers’ Compensation Insurance in statutory limits as required by applicable law; and (e) any other insurance reasonably required by Landlord. At Landlord’s request, the amounts and kinds of insurance coverages described herein may be reasonably increased or expanded to reflect amounts and coverages then typically being carried for similar business operations in institutionally owned or financed properties. Whenever Tenant shall undertake any alterations, additions or improvements in, to or about the Premises (“Work”) the aforesaid insurance protection must extend to and include injuries to persons and damage to property arising in connection with such Work, without limitation including liability under any applicable structural work act, and such other insurance as Landlord shall require; and the policies of or certificates evidencing such insurance must be delivered to Landlord prior to the commencement of any such Work.
Tenant’s Insurance. Tenant, in order to enable it to meet its obligation to insure against the liabilities specified in this Lease, shall at all times during the Term carry, at its own expense, one or more policies of general public liability and property damage insurance, issued by one or more insurance companies acceptable to Landlord, with the following minimum coverage on an occurrence basis:
A. Worker’s Compensation: - As provided by Law.
B. Commercial General Liability Insurance, Including Blanket Contractual Liability, Broad Form Property Damage, Personal Injury, Completed Operations, Products Liability and Fire Damage, or if any such coverages are not in effect when needed, such other similar coverage as is then in effect: - Not less than $3,000,000 Combined Single Limit for both Bodily Injury and Property Damage
C. Fire and Extended Coverage, Vandalism and Malicious Mischief, and Sprinkler Leakage Insurance for the full cost of replacement of Tenant’s property and fixtures located in the Premises. Commercial General Liability Insurance policies shall name Landlord as an additional insured. All insurance carried by Tenant shall be in a form approved by Landlord and in an insurance company approved by Landlord, authorized to do business in the State and have a policy holder’s rating of no less than “A” and with a financial class size of IX or better in the most current edition of Best’s Insurance Reports. Upon the commencement of this Lease and prior to the expiration of any of its required insurance policies, and at interim dates upon Landlord’s reasonable request, Tenant shall furnish Landlord with a certificate or certificates of insurance confirming the existence and continuity of coverage. All policies maintained by Tenant in conformance with the requirements of this Lease shall provide at least thirty (30) days’ advance written notice to Landlord of cancellation, material change or intent not to renew and ten (10) days’ notice to Landlord for non-payment. Should Tenant fail to carry such insurance and/or furnish Landlord with a copy of all such certificates after a request to do so, Landlord shall have the right to obtain such insurance and collect the cost thereof from Tenant as Additional Rent or, at Landlord’s discretion, to evict Tenant and all its business operations from the Premises, without liability to Landlord.
Tenant’s Insurance. The Tenant will maintain the insurance described below throughout the term of this lease, and any renewal thereof, with insurers licensed and approved to operate in the province of Ontario:
(a) all risks, including earthquake and flood, property insurance in an amount equal to full replacement cost, insuring (a) all property owned by the Tenant or for which it is responsible, and located within the leased Premises, including but not limited to, fittings, fixtures, additions, alterations, partitions, and all other Landlord's and Tenant's improvements, and (b) the Tenant's furniture, inventory, trade fixtures and equipment; and,
(b) Public liability insurance in a "commercial general insurance" format to include coverage against bodily injury, including death, and property damage. Such insurance is to name the tenant as insured and the landlord as additional insured;
(i) include extensions of coverage such as personal injury, contractual liability, premises liability, contingent employers liability, owners’ and contractors’ protective liability, products and completed operations, property damage, cross liability and severability of interests clause, liquor liability, breach of condition and non-owned automobile insurance; and,
(ii) cover the Tenant's use of the Premises and Common Areas, if any, including all of the Tenant's and their client’s activities and operations within all areas of the facility and any other Person performing work on behalf of the Tenant, and those for whom the Tenant is responsible; and,
(iii) be written on an "occurrence" form with inclusive limits of liability no less than $5,000,000 per occurrence; and,
(c) Include "broad form, tenants legal liability" insurance with limits of liability not less than $250,000 per occurrence; and,
(d) Include any other form of insurance that the Landlord, requires from time to time, in form, in sums and for perils or risks insured against which a prudent Tenant would insure and shall name the Landlord as an additional insured.
Tenant’s Insurance. Tenant shall maintain the following coverages in the following amounts.
Tenant’s Insurance. Tenant, at its sole cost and expense, shall provide and maintain in effect the insurance described in Exhibit D. Evidence of that insurance must be delivered to Landlord prior to the Commencement Date.
Tenant’s Insurance. Tenant, shall at all times during the Term of this Lease, and at its own cost and expense, procure and continue in force the following insurance coverage: (i) Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and property damages of not less than Two Million Dollars ($2,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate, including products liability coverage if applicable, owners and contractors protective coverage, blanket contractual coverage including both oral and written contracts, and personal injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended coverage and special extended coverage insurance (all risks), including a vandalism and malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage where sprinklers are provided in an amount equal to the full replacement value new without deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other improvements in the Premises, including but not limited to all mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities, and (B) trade fixtures, furniture, equipment and other personal property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as required by law; and (iv) business interruption, loss of income and extra expense insurance covering any failure or interruption of Tenant’s business equipment (including, without limitation, telecommunications equipment) and covering all other perils, failures or interruptions sufficient to cover a period of interruption of not less than twelve (12) months. Tenant shall carry and maintain during the entire Term (including any option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 14 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably required by Landlord.
Tenant’s Insurance. (a) During the Lease Term (and any period of early entry or occupancy or holding over by Tenant, if applicable), Tenant shall maintain the following types of insurance, in the amounts specified below: