Common use of Boiler and Machinery Clause in Contracts

Boiler and Machinery. The Partnership or the SP Subsidiary shall maintain, after substantial completion of any above-ground improvements, boiler and machinery insurance covering physical damage to the Qualified Asset and to the major components of any central heating, air conditioning or ventilation systems, and such other equipment as is usual for similar properties in the area. The policy shall include coverage for business interruption, including expediting and extra expense, in an amount not less than $500,000. Unless the insurance required in subsections (a) (i), (iii) and (iv) is provided on the same policy or by the same insurance carrier, a Joint Loss Agreement between separate primary policies will be required.