|7. || |
INSURANCE; WAIVER OF SUBROGATION; INDEMNITIES; ENVIRONMENTAL.
A. Sublessee shall maintain in force during the Term an insurance policy of with the same coverage as Sublessor is required to maintain under the Prime Lease insuring against all liability of Sublessee and its agents, employees and contractors arising out of, and related to, Sublessees use or occupancy of the Premises. Such policy shall name Sublessor as an additional insured. Coverage shall include: (i) general liability insurance respecting the Premises, with bodily injury, property damage and personal injury coverage of at least $1,000,000 per incident and at least $2,000,000 annual aggregate, fire damage coverage of at least $300,000 any one fire, and medical expense coverage of at least $10,000 any one person; insuring against all liability of Sublessee and its agents, employees and contractors arising out of, and related to, Sublessees use or occupancy of the Premises. Such policy shall name Sublessor as an additional insured. (ii) Workers Compensation Insurance (including Employers Liability Insurance) in the statutory amount covering all employees of Sublessee employed or performing services at the Premises, in order to provide the statutory benefits required by the laws of the state in which the Premises are located, and Employers Liability Insurance in the amount of $1,000,000 each accident/$1,000,000 disease-policy limit/$1,000,000 disease-each employee; (iii) Automobile Liability Insurance, including but not limited to, passenger liability, on all owned, non-owned, and hired vehicles used in connection with the Premises, with a combined single limit per occurrence of not less than $1,000,000 for Bodily Injury and Property Damage; and (iv) Umbrella Liability Insurance in the amount of at least $2,000,000 per occurrence and $2,000,000 annual aggregate and shall be subject to periodic increases specified by Prime Lessor as per the Prime Lease. At all times when any work is in process in connection with any change or alteration being made by Sublessee, Sublessee shall require all contractors and subcontractors to maintain the insurance described in this Section. This policy shall name Sublessor as an additional insured for the sole purpose of limiting liability of the Sublessor for Sublessees use of the space.
B. Sublessee shall maintain in effect Personal Property Insurance covering leasehold improvements paid for by Sublessee and Sublessees personal property and fixtures from time to time in, on, or at the Premises, in an amount not less than 100% of the full replacement cost, without deduction for depreciation, providing protection against events protected under Special Risk Coverage, as well as against sprinkler damage, vandalism, and malicious mischief. Any proceeds from the Personal Property Insurance shall be used for the repair or replacement of the property damaged or destroyed, unless this Sublease is terminated under an applicable provision herein. If the Premises are not repaired or restored following damage or destruction in accordance with other provisions herein, Sublessor shall receive any proceeds from the Personal Property Insurance allocable to Sublessees leasehold improvements. Sublessee shall maintain in effect Business Interruption Insurance, providing in the event of damage or destruction of the Premises an amount of $1,0000,000.
C. Sublessor shall maintain in force during the Term all policies of insurance required of Sublessor, as lessee, under the Prime Lease. Sublessee shall be responsible for reimbursement of Sublessors Pro Rata Share of Prime Lessors insurance premiums under Section 7.08 of the Prime Lease. Sublessee shall have the right, upon request, to receive copies of insurance certificates evidencing the policies for which Sublessee is required to make payments, including copies of any premium calculations or invoices.
D. Sublessor and Sublessee hereby waive, discharge and release each other from any and all claims, losses, damages, costs, expenses and liabilities (collectively, Claims) which may be inflicted upon the person or property of either such party or its agents, employees or contractors, regardless of whether such Claims arose out of or were brought about by the fault or negligence of either of the parties or their respective servants or agents, to the extent that such Claims are covered (or are required to be covered hereunder) by one or more policies of insurance. This section is intended to waive, discharge and release, among other things, the subrogation rights of the respective insurers of the parties with respect to insured losses paid by any such insurers relating to or concerning the Premises.
E. Sublessee shall indemnify, defend and hold Sublessor harmless from and against any and all claims, actions, damages, liability and expense in connection with any loss, damage or injury to persons or property occurring in, on or about the Building, arising out of any negligent act or omission or willful misconduct of Sublessee, its employees, agents or contractors. Sublessor shall indemnify, defend and hold Sublessee harmless from and against any and all claims, actions, damages, liability and expense in connection with any loss, damage or injury to persons or property occurring in, on or about the Building, arising out of any negligent act or omission or willful misconduct of Sublessor, its employees, agents or contractors.