Landlord agrees to defend, indemnify and save harmless Tenant from legal action, damages, loss, liability and any other expense in connection with loss of life, bodily or personal injury or property damage, arising from or out of the intentional or willful misconduct or gross negligence of Landlord, its agents, employees, licensees, servants, invitees or contractors, which occur in or about the Premises, outside the Premises but within the Building, on the Land, on the access roads and ways, in the parking facilities provided pursuant to the Lease, within University Park or any adjacent area maintained by Landlord or any individual or entity affiliated with Landlord, except to the extent that such loss of life, bodily or personal injury or property damage is due solely to the willful misconduct or act, omission or neglect of Tenant, its agents, contractors, employees, licensees, invitees or servants.
The foregoing indemnities and hold harmless agreements shall include indemnity against reasonable attorneys fees and all other costs, expenses and liabilities, excluding consequential damages, incurred in connection with any such claim or proceeding brought thereon, and the defense thereof.
Section 7.2. Liability Insurance.
The Tenant agrees to maintain in full force from the date upon which the Tenant first enters the Premises for any reason, throughout the Term, and thereafter, so long as the Tenant is in occupancy of any part of the Premises, by a policy of commercial general liability insurance under which the Landlord, the Buildings managing agent, any ground lessor and any holder of a first mortgage on the Property of whom the Tenant is notified by the Landlord ( collectively, the Additional Named Insureds) and the Tenant are named as insureds, and under which the insurer provides a contractual liability endorsement insuring against all cost, expense and liability arising out of or based upon any and all claims, accidents, injuries and damages described in Section 7.1, in the broadest form of such coverage from time to time available. Each such policy shall be non- cancellable and non-amendable (to the extent that any proposed amendment reduces the limits or the scope of the insurance required in this Lease) with respect to the Landlord and such ground lessor and first mortgagee without ten (10) days prior notice to the Landlord and the Additional Named Insureds and a certificate of insurance shall be delivered to the Landlord. The minimum limits of liability of such insurance as of the Term Commencement Date shall be Five Million Dollars ($5,000,000.00) per occurrence for combined bodily injury (or death) and damage to property.
Notwithstanding anything in this Lease to the contrary, Tenant may elect to self-insure against any and all of the risks, or portion thereof, against which Tenant is required to insure pursuant to the terms of this Lease, provided that either (i) the Chief Financial Officer of Tenant certifies annually that Tenant has a US tax tangible net worth, as of the end of the Tenants most recent reporting period of not less than One Hundred Fifty Million Dollars ($150,000,000) as computed in accordance with the Generally Accepted Accounting Principles (GAAP), (Tenants Net Worth), or (ii) the Chief Financial Officer of Guarantor certifies annually that Guarantor has a US tax tangible net worth, as of the end of the Guarantees most recent reporting period, of not less than One Hundred Fifty Million Dollars ($150,000,000) as computed in accordance with GAAP, (Guarantors Net Worth). With regard to this Lease, self-insurance will be considered as insurance for the purposes of complying with the terms and conditions of the Lease. Should Tenants Net Worth be less than $150 Million, Tenant may not avail itself of the election to self-insure.