OF $2,000,000.00.
TENANT SHALL ALSO REQUIRE ITS
MOVERS TO PROCURE AND DELIVER TO LANDLORD A CERTIFICATE OF INSURANCE NAMING
LANDLORD AS AN ADDITIONAL INSURED.
(B)
TENANT SHALL, AT ITS SOLE COST AND EXPENSE, MAINTAIN IN FULL FORCE
AND EFFECT ON ALL TENANT'S TRADE FIXTURES, EQUIPMENT AND PERSONAL PROPERTY ON
THE PREMISES, A POLICY OF ALL RISK PROPERTY INSURANCE COVERING THE FULL
REPLACEMENT VALUE OF SUCH PROPERTY.
(C)
ALL INSURANCE REQUIRED HEREUNDER SHALL NOT BE SUBJECT TO
CANCELLATION WITHOUT AT LEAST THIRTY (30) DAYS PRIOR NOTICE TO ALL INSUREDS, AND
SHALL NAME LANDLORD, BRANDYWINE REALTY TRUST, BRANDYWINE OPERATING PARTNERSHIP,
L.C., AS AN ADDITIONAL INSURED, AS THEIR INTERESTS MAY APPEAR, AND, IF REQUESTED
BY LANDLORD, SHALL ALSO NAME AS AN ADDITIONAL INSURED ANY MORTGAGEE OR HOLDER OF
ANY MORTGAGE WHICH MAY BE OR BECOME A LIEN UPON ANY PART OF THE PREMISES.
PRIOR
TO THE COMMENCEMENT OF THE TERM, TENANT SHALL PROVIDE LANDLORD WITH CERTIFICATES
WHICH EVIDENCE THAT THE COVERAGES REQUIRED HAVE BEEN OBTAINED.
TENANT SHALL
ALSO FURNISH TO LANDLORD THROUGHOUT THE TERM HEREOF REPLACEMENT CERTIFICATES, AT
LEAST THIRTY (30) DAYS PRIOR TO THE EXPIRATION DATES OF THE THEN CURRENT POLICY
OR POLICIES.
ALL THE INSURANCE REQUIRED UNDER THIS LEASE SHALL BE ISSUED BY
INSURANCE COMPANIES AUTHORIZED TO DO
21
BUSINESS IN THE STATE OF NEW JERSEY WITH A FINANCIAL RATING OF AT LEAST AN A-X
AS RATED IN THE MOST RECENT EDITION OF BEST'S INSURANCE REPORTS AND IN BUSINESS
FOR THE PAST FIVE YEARS.
THE LIMIT OF ANY SUCH INSURANCE SHALL NOT LIMIT THE
LIABILITY OF TENANT HEREUNDER.
IF TENANT FAILS TO PROCURE AND MAINTAIN SUCH
INSURANCE, LANDLORD SHALL NOTIFY TENANT AND TENANT SHALL PROVIDE EVIDENCE OF
SUCH INSURANCE WITHIN TEN (10) DAYS OF THE WRITTEN DEMAND.
MEDQUIST, INC. MAY
SELF INSURE AND MAINTAIN A DEDUCTIBLE IN EXCESS OF $20,000; PROVIDED THAT THIS
RIGHT SHALL NOT APPLY TO ANY ASSIGNEE OR SUBTENANT WHICH SHALL NOT MAINTAIN ANY
DEDUCTIBLE IN EXCESS OF $20,000 OR SELF-INSURE UNLESS APPROVED IN WRITING BY
LANDLORD.
THE POLICY LIMITS SET FORTH HEREIN SHALL BE SUBJECT TO PERIODIC
REVIEW, AND LANDLORD RESERVES THE RIGHT TO REQUIRE THAT TENANT INCREASE THE
LIABILITY COVERAGE LIMITS IF, IN THE REASONABLE OPINION OF LANDLORD, THE
COVERAGE BECOMES INADEQUATE OR IS LESS THAN COMMONLY MAINTAINED BY TENANTS OF
SIMILAR BUILDINGS IN THE AREA MAKING SIMILAR USES.
(D)
LANDLORD SHALL OBTAIN AND MAINTAIN THE FOLLOWING INSURANCE DURING
THE TERM OF THIS LEASE: (I) REPLACEMENT COST INSURANCE INCLUDING ALL RISK PERILS
ON THE BUILDING AND ON THE PROJECT, (II) BUILDER'S RISK INSURANCE FOR THE
LANDLORD WORK TO BE CONSTRUCTED BY LANDLORD IN THE PROJECT, AND (III)
COMPREHENSIVE COMMERCIAL LIABILITY INSURANCE (INCLUDING BODILY INJURY AND
PROPERTY DAMAGE) COVERING LANDLORD'S OPERATIONS AT THE PROJECT IN AMOUNTS
REASONABLY REQUIRED BY THE LANDLORD'S LENDER OR LANDLORD.
(E)
EACH PARTY HERETO, AND ANYONE CLAIMING THROUGH OR UNDER THEM BY
WAY OF SUBROGATION, WAIVES AND RELEASES ANY CAUSE OF ACTION IT MIGHT HAVE
AGAINST THE OTHER PARTY AND LANDLORD AND BRANDYWINE REALTY TRUST, AND THEIR
RESPECTIVE EMPLOYEES, OFFICERS, MEMBERS, PARTNERS,