Common use of No Double Coverage Clause in Contracts

No Double Coverage. Neither Tenant nor Landlord shall obtain or carry separate insurance covering the same risks as any Required Insurance unless Tenant, Landlord and Lender are included therein as named insured, with loss payable as provided in this Lease and the policy contains a first mortgagee endorsement in favor of the Lender. Tenant and Landlord shall immediately notify each other whenever any such separate insurance is obtained and shall deliver to each other the policies or certificates evidencing the same.

No Double Coverage. Neither Tenant nor Landlord shall not obtain or carry separate insurance covering the same risks as any Required Insurance unless Tenant, Landlord and Lender are included therein as named insured, with loss payable as provided in this Lease and the policy contains a first mortgagee endorsement in favor of the Lender. Tenant and Landlord shall immediately notify each other Landlord whenever any such separate insurance is obtained and shall deliver to each other Landlord the policies or certificates evidencing the same. Any insurance which Landlord may elect to carry shall be excess and not primary coverage.