OWNER’S LIABILITY INSURANCE. During the term of this Agreement and all renewals thereof, Owner shall, at Owner’s expense, carry and maintain primary commercial general liability insurance on an “occurrence” basis, naming Manager as an additional insured, with limits of not less than Five Million Dollars ($5,000,000.00) per occurrence (the “Owner’s Liability Insurance”). Owner shall name Manager as an additional insured on Owner’s Liability Insurance. If the Owner’s Liability Insurance has a deductible, or similar clause, Owner shall be responsible for paying any losses that are not covered by the Owner’s Liability Insurance because of said deductible or similar clause.
Appears in 5 contracts
Samples: Management Agreement (Resource Apartment REIT III, Inc.), Form of Management Agreement (Resource Apartment REIT III, Inc.), Form of Management Agreement (Resource Apartment REIT III, Inc.)
OWNER’S LIABILITY INSURANCE. During the term of this Agreement and all renewals thereof, Owner shall, at Owner’s 's expense, carry and maintain primary commercial general liability insurance on an “"occurrence” " basis, naming Manager as an additional insured, with limits of not less than Five Million Dollars ($5,000,000.00) per occurrence (the “"Owner’s 's Liability Insurance”"). Owner shall name Manager as an additional insured on Owner’s Liability Insurance. If the Owner’s 's Liability Insurance has a deductible, or similar clause, Owner shall be responsible for paying any losses that are not covered by the Owner’s 's Liability Insurance because of said deductible or similar clause.
Appears in 3 contracts
Samples: Management Agreement (Resource Income Opportunity REIT, Inc.), Management Agreement (Resource Apartment REIT III, Inc.), Management Agreement (Resource Real Estate Opportunity REIT II, Inc.)
OWNER’S LIABILITY INSURANCE. During the term of this Agreement and all renewals thereof, Owner shallOwner, at Owner’s 's expense, shall carry and maintain primary commercial general liability insurance on an “"occurrence” " basis, naming Manager as an additional insured, with limits of not less than Five Million Dollars ($5,000,000.00) per occurrence (the “"Owner’s 's Liability Insurance”"). Owner shall name Manager as an additional insured on Owner’s Liability Insurance. If the Owner’s 's Liability Insurance has a deductible, or similar clause, Owner shall be responsible for paying any losses that are not covered by the Owner’s 's Liability Insurance because of said deductible or similar clause.
Appears in 1 contract
Samples: Management Agreement
