Fire and Casualty Insurance. Developer shall obtain and keep in full force adequate fire and casualty insurance with coverage in an amount equal to the assessed value of such improvements. In the event of loss the Developer shall use the proceeds of such insurance to promptly reconstruct the damaged or lost improvements.
Fire and Casualty Insurance. Landlord agrees to keep in full force and effect a policy or policies or broad form, all risk coverage insurance, in amounts not less than eighty percent (80%) of the reasonable reproduction or replacement value of the Premises improvements (including all buildings and structures thereon, and all portions thereof), determined annually, and with no reduction for depreciation, use, wear and tear. Landlord shall obtain at least three (3) separate bids for such insurance (which bids shall be for the same coverage and on comparable terms and conditions), and the least expensive policy shall be selected. With respect to damage or destruction of Premises improvements, which damage or destruction is covered, in whole or in part, by insurance, it is agreed that the proceeds from such insurance which are paid to Landlord shall be used and applied exclusively for the purpose of making replacements or repairs, if and only if such proceeds are sufficient in amount to complete such necessary replacements or repairs, which are paid to Landlord are insufficient therefor, Landlord will provide the deficiency, it being the intent of the parties hereto that Landlord shall have the obligation to rebuild, reconstruct or replace the Premises improvements damaged or destroyed by fire or other casualty with improvements of equal value, whether such casualty shall be insured or not insured against, and whether the proceeds of any such insurance are paid to Landlord. The insurance shall be with a good and A-rated insurance company licensed to do business in Tennessee, and a copy of the policy, or a certificate of insurance together with proof of premium payment, shall be delivered to Tenant initially and at each renewal thereof. For the first calendar year of the Term, Tenant shall pay to Landlord, on or before the Commencement Date, the total cost of such fire and casualty insurance for such period of time. For calendar years following the first calendar year of the Term, Tenant shall pay to Landlord, in advance of such calendar year, Landlord’s total estimated cost of such fire and casualty insurance for such upcoming calendar year. Within one hundred twenty (120) days following the expiration of each calendar year, the estimated cost of such fire and casualty insurance shall be reconciled against the actual cost of such insurance, and any deficiency shall be payable by Tenant to Landlord within ten (10) days following demand. If such reconciliation reveals an overpayment by Tena...
Fire and Casualty Insurance. Landlord at all times during the term of this Lease, shall cause all buildings and other improvements excluding Tenant's trade fixtures; personal and other property, located within the Development to be insured against loss or damage by fire, lightning earthquake, wind and such other risks as are from time to time included in extended coverage endorsements in the State of Kansas, in an amount and form so that the proceeds thereof are sufficient to provide for actual replacement in full of the buildings and improvements within the Premises not including Tenant's trade fixtures or personal property, (said amount may exclude foundation and excavation costs and costs of underground flues pipes and drains); such coverage to include "Comprehensive Boiler and Machinery" coverage, if applicable, as part of one or more policies of insurance. In addition, Landlord way, during the entire term of this Lease and any renewals or extensions thereof, purchase loss of rent coverage in an amount not more them the total of the minimum annual rent and other Rent hereunder calculated for a one (1) year period. In addition to and not in lieu of any other Rent due hereunder, Tenant shall pay to Landlord as additional rent within thirty (30) days after Tenant's receipt from Landlord of a bill for sxxx, the cost of the insurance premiums for the above- described insurance coverages. Notwithstanding the above, if, acceptable to Landlord's lender, as determined in its sole discretion and if Tenant can obtain casualty insurance coverage ("Replacement Insurance"), (i) which is no less comprehensive than that obtained by Landlord, including, without limitation rental loss coverage, if previously carried by Landlord, (ii) notwithstanding anything herein the contrary, which names Landlord as the named insured, (iii) which provides Landlord with no less protection than the insurance previously maintained by Landlord (reasonably determined by Landlord), and (iv) at a lower cost, as evidenced in writing by Tenant's insurer, then Tenant shall have the right to obtain said Replacement Insurance for the Premises, by giving Landlord written notice at least ninety (90) days before the renewal date of the current insurance policy in effect, whereupon Tenant shall pay all costs incurred in obtaining such Replacement Insurance for the Premises. Tenant may elect to carry a higher deductible than Landlord was carrying, but not more than the maximum set forth in Section 13.1 without Landlord's prior w...
Fire and Casualty Insurance. During the Lease Term, Tenant at its cost shall maintain fire and extended coverage insurance on all special or above building standard work (as defined in Exhibit B, if applicable), all alterations and all other contents of the Demised Premises, including any Leasehold Improvements and Tenant's Property, in an amount sufficient so that no coinsurance penalty will be applied in case of loss.
Fire and Casualty Insurance. Tenant shall not do or suffer to be done any act, matter or thing whereby the fire and casualty insurance carried by Landlord on the Building shall be suspended or rated as more hazardous than on the Commencement Date. In case of breach of this covenant (as Landlord’s sole and exclusive remedies in lieu of all other remedies given to Landlord for breach of any covenants or conditions of this Lease), Txxxxx agrees to pay as Additional Rent any and all increase of premium for fire and casualty insurance carried by Landlord caused in any way by the actions or occupancy of Tenant.
Fire and Casualty Insurance. (a) Subject to the provisions of this Section 11.02, Landlord shall secure, pay for, and at all times during the terms hereof maintain, insurance providing coverage upon the building improvements in an amount equal to the full insurable value thereof (as determined by Landlord) and insuring against the perils of fire, extended coverage, vandalism, and malicious mischief. All insurance required hereunder shall be written by reputable, responsible companies licensed in the State of Utah. Tenant shall have the right, at its request at any reasonable time, to be furnished with copies of the insurance policies then in force pursuant to this Section, together with evidence that the premiums therefor have been paid.
Fire and Casualty Insurance. (a) Subject to the provisions of this Section 11.02, Landlord shall secure, pay for, and at all times during the Rental Term hereof maintain fire and casualty, insurance providing coverage upon the building improvements in an amount equal to the full insurable replacement value thereof (as determined by Landlord). Such insurance shall include twelve (12) months rental income coverage as well as such additional endorsements as may be required by Landlord’s lender or Landlord. All insurance required hereunder shall be written by reputable, responsible companies licensed in the State of Utah. Tenant shall have the right, at its request at any reasonable time, to be furnished with copies of the insurance policies then in force pursuant to this Section 11.02, together with evidence that the premiums therefor have been paid.
Fire and Casualty Insurance. Section 5.03. Lessee shall, at Lessee’s sole cost and expense, at all times during the term hereof, and any extensions thereof, keep all buildings, improvements and other structures on the Premises insured for their full replacement cost against loss or destruction by fire and the perils, including vandalism and malicious mischief, commonly covered under standard extended coverage endorsements in Santa Xxxxxxx County, California. Lessor shall be named as an additional insured on all such policies and the policies shall contain a cross-liability endorsement.
Fire and Casualty Insurance. Landlord shall keep the improvements situate on the demised premises insured against loss or damage by fire and extended coverage insurance. Landlord shall pay the premium for such insurance.
Fire and Casualty Insurance. At all times during the Lease term, Tenant shall, at Tenant's sole cost and expense, keep all buildings, improvements, and other structures on the Property insured for their full insurable value by insurance companies authorized to issue such insurance in California against loss or destruction by fire and the perils commonly covered under the standard extended coverage endorsement to fire insurance policies in Santa Xxxxxxx County. Tenant also shall insure all buildings, improvements, and other structures on the Property against loss or destruction by windstorm, cyclone, tornado, hail, explosion, riot, riot attending a strike, civil commotion, malicious mischief, vandalism, aircraft, fire, smoke damage, and sprinkler leakage. Any proceeds received because of a loss covered by such insurance shall be used and applied in the manner required by Section 16 of this Lease Agreement.
