Common use of Tenant’s Insurance Coverages Clause in Contracts

Tenant’s Insurance Coverages. FOAF shall purchase and maintain for the duration of ▇▇▇▇’s occupancy of the Leased Premises the following insurance. FOAF shall obtain the minimum insurance coverages described below from a company or companies with an A.M. Best rating of A- (VII) or better. The insurance policies shall protect the Town from claims that may arise out of or result from, or may be alleged to arise out of or result from, FOAF’s obligations under this Lease and/or from the obligations of any other person or entity directly or indirectly employed by FOAF and/or by anyone for whose acts said FOAF may be liable. FOAF must require that all contractors, agents and assigns procure and maintain sufficient insurance protection. Before the execution of this Lease by the Town, FOAF shall provide the Town with certificates of insurance for each policy required by this Lease. FOAF shall provide updated certificates of insurance at least thirty (30) days before any renewal of any such coverage. The certificates shall require notice of cancellation to the Town according to policy provisions. The Town reserves the right, from time to time, upon Notice to FOAF, to make reasonable adjustments to the insurance coverage limits indicated below.