1. Tenant Insurance
1.1. Policy Requirements. The Tenant shall maintain a policy or policies of comprehensive general liability insurance in connection with its activities on and in the Premises, issued by an insurance company approved by the Landlord. The Tenant shall pay all premiums on these policies in full on or before their due dates.
1.2. Coverage. The Tenant shall obtain from an insurance company approved by the Landlord and maintain
(a) comprehensive general liability insurance coverage appropriate to the risk in connection with its activities on and in the Premises, in an amount not less than $[MINIMUM INSURANCE AMOUNT] for bodily injury, property damage, or other losses,
(b) loss of income and extra expense insurance in amounts as will reimburse the Lessee for direct or indirect loss of earnings attributable to all perils commonly insured against by prudent lessees in the business of Lessee or attributable to prevention of access to the Premises as a result of that perils,
(c) all-risk property insurance on the Tenant's personal property located on or in the Premises together with any improvement or alteration that Landlord is not obliged to repair under this lease for the full replacement cost, and
(d) workers' compensation insurance for the Tenant's employees in the amount required by Law.
1.3. Additional Insured. The Tenant shall ensure that its insurance coverage will list the Landlord as an additional insured.
1.4. Proof of Insurance. At the Landlord's request, the Tenant shall provide it with
(a) certificates or other acceptable evidence of insurance evidencing its coverage, and
(b) at least [30] days' prior Notice of any change in or cancellation of the insurance coverage.
1. Tenant Insurance
1.1. Policy Requirements. The Tenant shall maintain a policy or policies of comprehensive general liability insurance in connection with its activities on and in the Premises, issued by an insurance company approved by the Landlord. The Tenant shall pay all premiums on these policies in full on or before their due dates.
1.2. Coverage. The Tenant shall obtain from an insurance company approved by the Landlord and maintain
(a) comprehensive general liability insurance coverage appropriate to the risk in connection with its activities on and in the Premises, in an amount not less than $[MINIMUM INSURANCE AMOUNT] for bodily injury, property damage, or other losses,
(b) loss of income and extra expense insurance in amounts as will reimburse the Lessee for direct or indirect loss of earnings attributable to all perils commonly insured against by prudent lessees in the business of Lessee or attributable to prevention of access to the Premises as a result of that perils,
(c) all-risk property insurance on the Tenant's personal property located on or in the Premises together with any improvement or alteration that Landlord is not obliged to repair under this lease for the full replacement cost, and
(d) workers' compensation insurance for the Tenant's employees in the amount required by Law.
1.3. Additional Insured. The Tenant shall ensure that its insurance coverage will list the Landlord as an additional insured.
1.4. Proof of Insurance. At the Landlord's request, the Tenant shall provide it with
(a) certificates or other acceptable evidence of insurance evidencing its coverage, and
(b) at least [30] days' prior Notice of any change in or cancellation of the insurance coverage.
The Insurance clause in a commercial lease sets out the respective obligations of the parties as to the type and, in some cases, amounts of insurance that they will each carry. It also addresses the issue of subrogation.
The Tenant Insurance clause in a commercial lease stipulates that the Tenant must obtain general liability, business interruption, all-risk property, and workers' compensation insurance.
Most clauses require specific liability coverage amounts. Some variants specify the exact quality and form of insurance.
The Insurance clause in a commercial lease sets out the respective obligations of the parties as to the type and, in some cases, amounts of insurance that they will each carry. It also addresses the issue of subrogation.
The Tenant Insurance clause in a commercial lease stipulates that the Tenant must obtain general liability, business interruption, all-risk property, and workers' compensation insurance.
Most clauses require specific liability coverage amounts. Some variants specify the exact quality and form of insurance.