Common use of All Risk Coverage Clause in Contracts

All Risk Coverage. At all times during the Term, Landlord shall procure and maintain in full force and effect with respect to the Project, a policy or policies of all risk insurance (including sprinkler, vandalism and malicious mischief coverage, and any other endorsements required by the holder of any fee or leasehold mortgage) in an amount equal to one hundred percent (100%) of the full replacement value (replacement cost new, including debris removal, and demolition) thereof and any other insurance Landlord reasonably deems necessary, including, but not limited to, boiler and machinery insurance. If the annual premiums charged Landlord for such casualty insurance exceed the standard premium rates because the nature of Tenant's operations results in increased exposure, then Tenant shall, upon receipt of appropriate premium invoices, reimburse Landlord for such increased amount. Landlord shall also keep and maintain, by endorsement to its all risk insurance or by a separate policy , rental abatement insurance insuring against abatement or loss of Rent in case of fire or other casualty insured against by a standard "all risk" policy, in an amount at least equal to the amount of the Rent payable by Tenant during one (1) year next ensuing, as reasonably determined by Landlord. At all times during the Term, Tenant shall procure, pay for and maintain in full force and effect a similar policy of insurance, naming Landlord and Managing Agent as an additional insured with respect to property of every description and kind owned by Tenant upon the Premises or the Building, or for which Tenant is legally liable, including, without limitation, trade fixtures, furniture, equipment and other personal property, and all tenant improvements owned or installed by or on behalf of Tenant (but not with respect to those owned constructed by and owned by Landlord and defined in the Work Letter as Tenant's Improvement Work) insuring one hundred percent (100%) of the full replacement value of said property and tenant improvements. Any policy proceeds shall be used for the repair and replacement of the property damaged or destroyed unless this Lease shall cease and terminate under the provisions on excessive damage or destruction set forth in Section 10.04

All Risk Coverage. At all times during Mortgagor, at its sole cost and expense, shall keep the TermImprovements and the Personal Property insured against loss or damage by fire and against loss or damage by other risks now covered by “All Risk” insurance, Landlord shall procure in form and maintain in full force and effect with respect substance satisfactory to the Project, a policy or policies of all risk insurance (including sprinkler, vandalism and malicious mischief coverageMortgagee, and any other endorsements required by the holder of any fee or leasehold mortgage) in an amount equal to at least one hundred percent (100%) of the full replacement value (cost of the Improvements and the Personal Property, including work performed for tenants, without deduction for depreciation and with such other deductibles, if any, as are satisfactory to Mortgagee, in its discretion. Such insurance shall include policy wording indicating coverage or an endorsement for demolition and increased cost of construction and agreed amount policy wording for the estimated replacement cost. Mortgagor’s “All Risk” insurance policy shall not exclude from coverage any loss arising from the perils of terrorist acts MORTGAGE, ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT Loan No. 374-0366 096780 000064 DALLAS 2814275.4 Florida or, in the alternative, Mortgagor shall maintain a separate insurance policy covering terrorist acts and, in either case, the coverage for damage caused by terrorist acts shall be on a 100% replacement cost newbasis with a deductible acceptable to Mortgagee (such insurance coverage shall be referred to herein as “Terrorism Insurance”). Mortgagor’s Terrorism Insurance coverage may be part of a blanket insurance policy provided that the blanket coverage (i) is acceptable to Mortgagee, including debris removalin its discretion, and demolition(ii) thereof and any other insurance Landlord reasonably deems necessary, including, but not limited to, boiler and machinery insurance. If the annual premiums charged Landlord for such casualty insurance exceed the standard premium rates because the nature of Tenant's operations results in increased exposure, then Tenant shall, upon receipt of appropriate premium invoices, reimburse Landlord for such increased amount. Landlord shall also keep and maintain, by contains policy wording indicating coverage or an endorsement to its all risk insurance or the policy showing Mortgagee as a certificate holder and additional insured and (iii) contains a specific allocation of value and deductible on the property to be encumbered by a separate policy , rental abatement insurance insuring against abatement or loss of Rent in case of fire this Mortgage and provides that such value and deductible may not be affected by any claims or other casualty insured against by a standard "all risk" policy, in an amount at least equal matters related to the amount of other properties covered by the Rent payable by Tenant during one (1) year next ensuing, as reasonably determined by Landlord. At all times during the Term, Tenant shall procure, pay for and maintain in full force and effect a similar policy of insurance, naming Landlord and Managing Agent as an additional insured with respect to property of every description and kind owned by Tenant upon the Premises or the Building, or for which Tenant is legally liable, including, without limitation, trade fixtures, furniture, equipment and other personal property, and all tenant improvements owned or installed by or on behalf of Tenant (but not with respect to those owned constructed by and owned by Landlord and defined in the Work Letter as Tenant's Improvement Work) insuring one hundred percent (100%) of the full replacement value of said property and tenant improvements. Any policy proceeds shall be used for the repair and replacement of the property damaged or destroyed unless this Lease shall cease and terminate under the provisions on excessive damage or destruction set forth in Section 10.04blanket policy.