TO THE EXTENT THAT SUCH AGREEMENT MAY BE EFFECTIVE
WITHOUT INVALIDATING OR MAKING IT IMPOSSIBLE TO SECURE INSURANCE COVERAGE FROM
RESPONSIBLE INSURANCE COMPANIES DOING BUSINESS IN ANY STATE) WITH RESPECT TO ANY
PROPERTY LOSS WHICH IS COVERED BY INSURANCE THEN BEING CARRIED BY LANDLORD OR
TENANT, THE PARTY CARRYING SUCH INSURANCE AND SUFFERING SAID LOSS RELEASES THE
OTHERS OF AND FROM ANY AND ALL CLAIMS WITH
44
RESPECT TO SUCH LOSS; AND THEY FURTHER AGREE THAT THEIR RESPECTIVE INSURANCE
COMPANIES (AND, IF LANDLORD OR TENANT SHALL SELF INSURE IN ACCORDANCE WITH THE
TERMS HEREOF, LANDLORD OR TENANT, AS THE CASE MAY BE) SHALL HAVE NO RIGHT OF
SUBROGATION AGAINST THE OTHER ON ACCOUNT THEREOF, EVEN THOUGH EXTRA PREMIUM MAY
RESULT THEREFROM.
IN THE EVENT THAT ANY EXTRA PREMIUM IS PAYABLE BY TENANT AS A
RESULT OF THIS PROVISION, LANDLORD SHALL NOT BE LIABLE FOR REIMBURSEMENT TO
TENANT FOR SUCH EXTRA PREMIUM.
9.3
FORM SATISFACTORY, ETC.
ALL INSURANCE
POLICIES AND ENDORSEMENTS REQUIRED PURSUANT TO THIS ARTICLE 9 SHALL BE FULLY
PAID FOR, NONASSESSABLE, AND ISSUED BY REPUTABLE INSURANCE COMPANIES AUTHORIZED
TO DO BUSINESS IN THE STATE AND HAVING A GENERAL POLICY HOLDER'S RATING OF NO
LESS THAN A IN BEST'S LATEST RATING GUIDE.
ALL PROPERTY, BUSINESS INTERRUPTION,
LIABILITY AND FLOOD INSURANCE POLICIES WITH RESPECT TO EACH PROPERTY SHALL
INCLUDE NO DEDUCTIBLE IN EXCESS OF TWO HUNDRED FIFTY THOUSAND DOLLARS
($250,000).
AT ALL TIMES, ALL PROPERTY, BUSINESS INTERRUPTION, LIABILITY AND
FLOOD INSURANCE POLICIES, WITH THE EXCEPTION OF WORKER'S COMPENSATION INSURANCE
COVERAGE, SHALL NAME LANDLORD AND ANY FACILITY MORTGAGEE AS ADDITIONAL INSUREDS,
AS THEIR INTERESTS MAY APPEAR.
ALL LOSS ADJUSTMENTS SHALL BE PAYABLE AS
PROVIDED IN ARTICLE 10, EXCEPT THAT LOSSES UNDER LIABILITY AND WORKER'S
COMPENSATION INSURANCE POLICIES SHALL BE PAYABLE DIRECTLY TO THE PARTY ENTITLED
THERETO.
TENANT SHALL CAUSE ALL INSURANCE PREMIUMS TO BE PAID AND SHALL DELIVER
(OR CAUSE TO BE DELIVERED) POLICIES OR CERTIFICATES THEREOF TO LANDLORD PRIOR TO
THEIR EFFECTIVE DATE (AND, WITH RESPECT TO ANY RENEWAL POLICY, PRIOR TO THE
EXPIRATION OF THE EXISTING POLICY).
ALL SUCH POLICIES SHALL PROVIDE LANDLORD
(AND ANY FACILITY MORTGAGEE IF REQUIRED BY THE SAME) THIRTY (30) DAYS PRIOR
WRITTEN NOTICE OF ANY MATERIAL CHANGE OR CANCELLATION OF SUCH POLICY.
IN THE
EVENT TENANT SHALL FAIL TO EFFECT (OR CAUSE TO BE EFFECTED) SUCH INSURANCE AS
HEREIN REQUIRED, TO PAY (OR CAUSE TO BE PAID) THE PREMIUMS THEREFOR OR TO
DELIVER (OR CAUSE TO BE DELIVERED) SUCH POLICIES OR CERTIFICATES TO LANDLORD OR
ANY FACILITY MORTGAGEE AT THE TIMES REQUIRED, LANDLORD SHALL HAVE THE RIGHT,
UPON NOTICE TO TENANT, BUT NOT THE OBLIGATION, TO ACQUIRE SUCH INSURANCE AND PAY
THE PREMIUMS THEREFOR, WHICH AMOUNTS SHALL BE PAYABLE TO LANDLORD, UPON DEMAND,
AS ADDITIONAL CHARGES, TOGETHER WITH INTEREST ACCRUED THEREON AT THE OVERDUE
RATE FROM THE DATE SUCH PAYMENT IS MADE UNTIL (BUT EXCLUDING) THE DATE REPAID.
9.4
NO SEPARATE INSURANCE; SELF-INSURANCE.
TENANT
SHALL NOT TAKE (OR PERMIT ANY PERSON TO TAKE) OUT SEPARATE INSURANCE, CONCURRENT
IN FORM OR CONTRIBUTING IN THE EVENT