Decennial Insurance definition

Decennial Insurance means the policy taken out with Royal & Sun Alliance Insurance plc in respect of the structure of the Building and the plant and machinery in the Building, a copy of which is annexed to this Lease as Annexure 2;
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Decennial Insurance means the policy of insurance against latent defects in the Base Building and in the machinery and plant in the Base Building on the terms described in the copy of the policy annexed to this Agreement as Annexure 5;
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Examples of Decennial Insurance in a sentence

  • If the repair of any Defect which is covered by the Decennial Insurance falls within the Tenant’s obligations under clause 11, the Landlord shall pay any net proceeds of the claim made under clause 33.2 insofar as they relate to the Defect in the Premises to the Tenant within ten (10) Working Days of receipt of such monies so that the Tenant may apply the proceeds towards repairing and making good any Defect.

  • If the Landlord shall incur any items of Expenditure in relation to any Defect which is covered by the Decennial Insurance then the Landlord shall apply the net proceeds of the claim made under clause 33.2 against the relevant expense so that for the purposes of this Lease the relevant item of Expenditure will be reduced by the amount of such proceeds.