Lessor to insure Sample Clauses
The 'Lessor to insure' clause requires the property owner (lessor) to obtain and maintain insurance coverage for the leased premises. Typically, this means the lessor is responsible for insuring the building against risks such as fire, flood, or other specified perils, while the tenant may be responsible for insuring their own contents or liability. This clause ensures that the property remains protected throughout the lease term, reducing the risk of financial loss for both parties in the event of damage or disaster.
Lessor to insure. Subject to the provisions of this Lease the Lessor covenants with the Lessee to insure and keep insured the Lease Premises against risks as the Lessor may from time to time in her absolute discretion think fit to insure PROVIDED THAT the parties agree that the Lessor will not be responsible for the insurance of the Lessee’s assets, any building erected on the Premises by the Lessee, goods, working equipment and any other effects belonging to the Lessee and the Lessor may furnish copies of the relevant cover or policy of insurance to the Lessee or any person claiming under him upon demand in writing. The Lessee covenants with the Lessor:- to comply with all the reasonable requirements and recommendations of the Lessor ’s insurers; not to do or omit anything that could cause any policy of insurance on or in relation to the Property to become void and voidable wholly or in part nor (unless the Lessee shall have previously notified the Lessor and have agreed to pay the increased premium) anything by which additional premiums may become payable; to pay directly or reimburse the Lessor on demand and fully indemnify the Lessor in respect of any additional premiums payable under any policy of insurance covering the Premises arising from a dangerous nature of any goods stored on the Premises by the Lessee and to comply with the requirements and recommendations of any fire authority and the requirements of the Lessor in connection with fire precautions relating to the Premises; not to obstruct the access to any fire equipment or the means of escape from the Premises and the Property and not to lock any fire door while the Premises or any part of the Premises is occupied; to give notice to the Lessor immediately upon the happening of any event which might affect any insurance policy on or relating to the Land or upon the happening of any event against which the Lessor may have insured under this Lease; immediately to inform the Lessor in writing of any conviction judgement or finding of any court or tribunal relating to the Lessee (or any director other officer or major shareholder of the Lessee) of such a nature as to be likely to affect the decision of any insurer or underwriter to grant or to continue such insurance; if at any time the Lessee shall be entitled to the benefit of any insurance on the Premises (which is not effected or maintained in pursuance of any obligation contained in this Lease) to apply all money received by virtue of such insurance in making ...
Lessor to insure. The Lessor shall throughout the Term carry:
(a) insurance on the Building (excluding the foundations and excavations) and the machinery, boilers and equipment in or servicing the Building and owned by the Lessor or the owners of the Building (excluding any property which the Lessee and other tenants are obliged to insure under Section 9.1 or similar sections of their respective leases) against damage by fire and extended perils coverage;
(b) public liability and property damage insurance with respect to the Lessor's operations in the Building; and
(c) such other form or forms of insurance as the Lessor reasonably considers advisable. Such insurance shall be in such reasonable amounts and with such reasonable deductibles as would be carried by a prudent owner of a reasonably similar building, having regard to size, age and location. Notwithstanding any other provision of this Lease, the Lessor's insurance shall contain a waiver of subrogation by the insurers against the Lessee and its subtenants to the extent such waiver is commercially available. The Lessor, acting reasonably, shall have the right to determine that if insurance premiums for the Building shall increase materially in the sole opinion of the Lessor, acting reasonably, as a consequence of a claim being made pursuant to such insurance (provided that this clause shall not apply to claims pursuant to any public liability insurance), and in the event the Lessor so determines, then the Lessor may forego filing or pursuing an insured claim and the costs of remedying such claim shall form part of the Operating Costs.
Lessor to insure. Subject to the provisions of this Lease the Lessor covenants with the Lessee to insure and keep insured the Property against risks as the Lessor may from time to time in her absolute discretion think fit to insure PROVIDED THAT the parties agree that the Lessor will not be responsible for the insurance of the Lessee’s assets, any building erected on the Property by the Lessee, goods, working equipment and any other effects belonging to the Lessee and the Lessor may furnish copies of the relevant cover or policy of insurance to the Lessee or any person claiming under him upon demand in writing.
Lessor to insure. 3.17.1 If the Lessor elects to insure the Premises at any time during the Term the Lessor will notify the Lessor in writing and the Lessee must reimburse the Lessor on demand the cost of such insurance.
3.17.2 If the Lessor maintains an insurance policy that covers the Premises and other buildings and improvements, the Lessee must reimburse a share of the Lessor's cost of such insurance which will be calculated as the proportion the current value of the Premises (as determined by the Lessor) bears from time to time to the value of all other buildings and improvements covered by and included in that insurance.
3.17.3 The Lessor will provide the Lessee with evidence of the currency of such insurance (if requested by the Lessee). If any insurance is maintained by the Lessor under the Mutual Liability Insurance Scheme then the Lessor is not required to give any copy of any policy to the Lessee.
Lessor to insure. 30 PART 10 - EXCLUSION OF LIABILITY AND INDEMNITY........................................... 31 10.1 Lessee's Indemnity.............................................................. 31 10.2 Lessor's Indemnity.............................................................. 31 10.3