full replacement value definition
full replacement value means the actual replacement cost thereof from time to time, including increased cost of construction endorsement, with no reductions or deductions. Tenant shall, in connection with each annual policy renewal, deliver to Landlord a redetermination of the full replacement value by the insurer or an endorsement indicating that the Leased Property is insured for its full replacement value. If Tenant makes any Permitted Alterations (as hereinafter defined) to the Leased Property, Landlord may have such full replacement value redetermined at any time after such Permitted Alterations are made, regardless of when the full replacement value was last determined.
full replacement value as used herein shall mean and include the total cost of replacement of the Apartment Complex at each respective stage of rehabilitation thereof up to completion;
full replacement value means actual replacement cost, including changes required by new building codes or ordinances (exclusive of the cost of excavation, foundations and footings). Such insurance shall show, as a loss payee in respect of the Premises, Landlord, Tenant and any ground lessor or mortgagee of Landlord required to be named pursuant to its mortgage documents, as their interests may appear. Landlord, subject to availability thereof and, as part of Operating Expenses, shall further insure as Landlord deems appropriate coverage against flood, earthquake, environmental remediation, loss or failure of building equipment, rental loss for a period of eighteen (18) months for periods of repair or rebuild, workmen’s compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the foregoing, Landlord may, but shall not be deemed required to, provide insurance as to any improvements installed by Tenant, provided that such coverage does not duplicate coverages maintained by Tenant. Landlord, as part of the Operating Expenses, shall further carry General Liability with General Aggregate Amount & Per Occurrence Limit insurance with a single loss limit of not less than Five Million Dollars ($5,000,000) for death or bodily injury, or property damage with respect to the Real Property.
More Definitions of full replacement value
full replacement value as used herein means actual replacement value without deduction for physical depreciation, as determined upon request of Landlord at reasonable intervals not more than once per year to provide the required “Replacement Cost” or “Restoration” endorsements and at the expense of Tenant, by independent appraisals.
full replacement value as used herein means actual replacement value at the time of such loss. Upon request, such replacement value shall be determined by a qualified appraiser, a copy of whose findings shall be submitted to Lessor, and, thereafter, proper adjustment in the limits of insurance coverage shall be effected. The cost of any such appraisal/replacement value determination shall be borne by Lessee.
full replacement value means actual replacement cost, including changes required by new building codes or ordinances (exclusive of the cost of excavation, foundations and footings). Such insurance shall show, as a loss payee in respect of the Premises, Landlord, Tenant and any Lender required to be named pursuant to its mortgage documents, as their interests may appear.
full replacement value as used herein, means the cost of repairing, replacing, or reinstating, including demolishing, any item of property, with materials of like kind and quality in compliance with, (and without, an exclusion pertaining to application of), any law or building ordinance regulating repair or construction at the time of loss and without deduction for physical, accounting, or any other depreciation, in an amount sufficient to meet the requirements of any applicable co-insurance clause and to prevent Tenant from being a co-insurer.
full replacement value means the actual replacement cost of the improvements on the Leased Land as determined from time to time less exclusions provided in the normal hazard insurance policy.
full replacement value means actual replacement cost, including changes required by new building codes or ordinances (exclusive of the cost of excavation, foundations and footings). Such insurance shall show, as a loss payee in respect of the Premises, DPT, Connetics, and the owner of the Premises. DPT shall provide proof of insurance to Connetics annually.
full replacement value as used herein, shall mean the cost of actual replacement of the Building, excluding the cost of excavation, foundations, footings, and underground flues, pipes and drains. Such insurance shall name Tenant as the insured, and Landlord