Coverages & Limits definition
Coverages & Limits. With respect to the spaces it makes use of from time to time within the Premises, Client agrees to maintain at its own cost during the term hereof insurance coverage for Comprehensive General Liability Insurance (“CGL”) in an amount not less than $1,000,000 for general property damage and personal injury (including, without limitation, bodily injury, sickness, disease, and death) and $2,000,000 in aggregate liability coverage, as well as a policy of fire, vandalism, malicious mischief, extended coverage and so-called “all risk” coverage insurance in an amount equal to one hundred percent (100%) of the replacement cost insuring all of Client's furniture, equipment, fixtures and property of every kind, nature and description which may be in or upon the Premises. The insurance required herein must be placed with insurers authorized to do business where the Premises are located, with a rating of not less than “A-VIII” in the current Best’s Insurance Reports. To the extent required by law, Client also shall carry Worker’s Compensation Insurance. All insurance policies required hereunder shall be written as primary policies and not contributing to or in excess of any coverage CIC or the Licensors may otherwise maintain. Additional Insureds: Client agrees directly and on behalf of their insurer that the following entities shall be considered additional insureds (“Additional Insureds”) on a primary and non-contributory basis under their general liability insurance and the required Omnibus Endorsement outlined below: CIC Providence, LLC; CIC Innovation Communities, LLC d/b/a CIC; CIC Innovation Services, LLC; CIC University Projects, LLC; CIC Property Management, LLC; CIC USA Holdings, LLC; CIC Health, LLC; CIC Health Testing Services, LLC; CIC Venture Cafe Global Institute Inc.; The Cambridge Incubator, LLC; CIC Founder Holdco Inc.; Providence Innovation District Phase I Owner, LLC; VTR; Wexford Science & Technology, LLC; Ventas Life Sciences, LLC; Ventas, Inc.; Wexford Asset Management, LLC; Wexford Equities, LLC; Wexford Development, LLC; ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇, U.S., Inc.; Boston Innovation Center, LLC; and any other entity that CIC may require to be added to this Exhibit A over time. Omnibus Endorsement (to appear on COI): To demonstrate the above, such CGL and the certificate of insurance must include precisely the following endorsement (the “Omnibus Endorsement”):
Coverages & Limits. Per Occurrence $ 1,700,000 Blanket Business Personal Property - Includes stock, furniture, fixtures, machinery, equipment, computer hardware, software, data, prototypes, etc. at J▇▇▇▇ Branch Drive, McLean, VA. Other locations included in Unscheduled Loc. Limit. ($250,000 each) $ 1,800,000 Blanket Earnings (Business Income) and Extra Expense- Actual loss of earnings and extra expenses that result from necessary suspension of operations during period of restoration. Includes 365 days extended period of indemnity. Net income, continuing normal expenses including payroll and net income from royalties, prototypes, project research and development documentation. Coverages/Limits (Cont.): Per Occurrence $1,000,000 Flood Annual Aggregate per location schedule $1,000,000 Earthquake Annual Aggregate per location schedule Additional Coverages/ Extensions Include: Per Occurrence Blanket mortgagees and loss payees per agreement/contract $ 500,000 Accounts Receivable Included Brands and Labels Up to 10% of Limit Building Ordinances or Laws $10,000 Catastrophe Allowance Covered except for spoilage Change in Temperature Covered up to full personal property limits Computers 25% or $1,000,000 Debris Removal (180 days) $ 25,000 Deferred Payments $ 25,000 Depositors Forgery $ 10,000 Employee Dishonesty/Theft $ 10,000 Endangered Property Covered under unscheduled location limit Exhibition $ 25,000 Extra Expense $ 25,000 Fine Arts Included Fire Department Service Charge Included Fire Protective Equipment $ 50,000 Minor Installation $ 25,000 Inventory and Appraisals $ 20,000 Money & Securities – Inside $ 10,000 Money & Securities – Outside $2,000,000 Newly Acquired Buildings (If building coverage exists – 180 days) $1,000,000 Newly Acquired Personal Property -180 days $ 50,000 Off Premises Utility Failure-Direct Damage $ 25,000 Outdoor Property $ 25,000 Personal Belongings-worldwide $10,000 Random (Hacker) Attack or virus Covered as personal property Patterns, Molds & Dies Included Personal Belongings $ 25,000 Portable Computer Equipment $ 25,000 Pollution Clean-up and Removal (180 days) $ 250,000 Property in Transit (Includes vehicle with test equipment) $ 25,000 Property in Transit World Wide Coverage Extension $ 25,000 Radioactive Contamination $ 25,000 Rewards Included Sewer Backup $ 100,000 Spoilage Included Underground Water Seepage $ 250,000 Unscheduled Locations (misc. locations around US) $ 500,000 Valuable Papers and Records Research Included Leasehold Interest Improve...
Coverages & Limits. With respect to the spaces it makes use of from time to time within the Premises, Client agrees to maintain at its own cost during the term hereof insurance coverage for Comprehensive General Liability Insurance (“CGL”) in an amount not less than One Million Dollars ($1,000,000) for general property damage and personal injury (including, without limitation, bodily injury, sickness, disease, and death) and Two Million Dollars ($2,000,000) in aggregate liability coverage, as well as a policy of fire, vandalism, malicious mischief, extended coverage and so-called “all risk” coverage insurance in an amount equal to one hundred percent (100%) of the replacement cost insuring all of Client's furniture, equipment, fixtures and property of every kind, nature and description which may be in or upon the Premises. The insurance required herein must be placed with insurers authorized to do business where the Premises are located, with a rating of not less than “A-VIII” in the current Best’s Insurance Reports. To the extent required by law, Client also shall carry Worker’s Compensation Insurance. All insurance policies required hereunder shall be written as primary policies and not contributing to or in excess of any coverage CIC or the Licensors may otherwise maintain. Additionally, any Client that stores, handles, transports, generates, or treats hazardous materials on site, or uses or occupies any workspace deemed to be a laboratory by CIC, must have the following coverages and limits:
More Definitions of Coverages & Limits
Coverages & Limits. With respect to the spaces it makes use of from time to time within the Premises, Client agrees to maintain at its own cost during the term hereof insurance coverage for Comprehensive General Liability Insurance (“CGL”) in an amount not less than $1,000,000 for general property damage and personal injury (including, without limitation, bodily injury, sickness, disease, and death) and $2,000,000 in aggregate liability coverage, as well as a policy of fire, vandalism, malicious mischief, extended coverage and so-called “all risk” coverage insurance in an amount equal to one hundred percent (100%) of the replacement cost insuring all of Client's furniture, equipment, fixtures and property of every kind, nature and description which may be in or upon the Premises. The insurance required herein must be placed with insurers authorized to do business where the Premises are located, with a rating of not less than “A-VIII” in the current Best’s Insurance Reports. To the extent required by law, Client also shall carry Worker’s Compensation Insurance. All insurance policies required hereunder shall be written as primary policies and not contributing to or in excess of any coverage CIC or the Licensors may otherwise maintain. Additionally, all such CGL must have the following coverages and limits: