This excerpt taken from the TDSC 8-K filed Feb 10, 2006.
required by the terms of this Lease, and (ii) the blanket policy or policies comply in all other respects with the other requirements of this Lease.
(e) The required deductibles, limits and coverages of all insurance set forth in this Section 17 may be reasonably adjusted by Landlord from time to time (but not more frequently than once every 5 years) in conformity with the then prevailing custom of insuring liability in the city in which the Premises are located or of securitized mortgage lending.
(f) Prior to the Commencement Date and at least 5 days prior to each policy anniversary, Tenant shall furnish the Landlord and its lenders with certificates of insurance or binders, in a form reasonably acceptable to Landlord evidencing that all of the insurance required by the provisions of this Lease for the benefit of Landlord and required to be in force by the provisions of this Lease and that the insurer(s) have agreed to give the other party at least 10 days notice prior to cancellation for nonpayment of premiums and 30 days notice prior to any other cancellation of, or any material modification to, the required coverage. Such certificates of insurance/binders shall be executed by each insurer or by an authorized representative of each insurer where it is not practical for such insurer to execute the certificate itself. Such certificates of insurance/binders shall identify underwriters, the type of insurance, the insurance limits and deductibles and the policy term and shall specifically list the special provisions enumerated for such insurance required by this Lease. Concurrently with the renewal of each policy, Tenant shall furnish Landlord with a report of an independent broker stating that the insurance required under this Section 17 is in effect, that all premiums have been paid, and attaching an updated copy of the schedule of insurance. Landlord and Tenant shall cooperate with each other in the collection of any insurance proceeds which may be payable in the event of any loss, including the execution and delivery of any proof of loss or other actions required to effect recovery. Tenant shall cause all commercial general liability and property policies maintained by Tenant to be written as primary policies, not contributing with and not supplemental to any coverage that Landlord may carry.
Notwithstanding anything herein to the contrary, in the event any of the insurance coverage set forth herein as required coverage to be maintained by Tenant becomes unavailable, or if available but only at such rates as to be commercially unreasonable and are no longer typically required to be carried regarding premises comparable to the Premises, Landlord and Tenant shall cooperate in good faith to revise the applicable insurance coverage requirements to reflect then current market considerations. Tenant acknowledges that Landlords lender must approve any such revision of applicable insurance coverages.
(g) Notwithstanding any provision hereof to the contrary, Landlord shall have rights to claim the proceeds of Tenants business interruption insurance only if and to the extent that Tenant does not pay its Rent as required by this Lease.
Section 18. Waiver of Subrogation.
Notwithstanding anything to the contrary set forth in this Lease, neither Landlord nor Tenant shall be liable (by way of subrogation or otherwise) to the other party (or to any insurance company insuring the other party) for any loss or damage to the property of the releasing party to the extent the loss or damage is covered by property insurance carried or required by this Lease to be carried by the releasing party