1999 036 Ordinance - Laserfiche WebLink

Home Browse Search

(ii) insurance in an amount not less than full replacement cost of the Tower and Improvements of each Site, against direct and indirect loss or damage by fire and all other casualties and risks covered under "All Risk" insurance; and (iii) workers' compensation insurance to the extent required by any Laws. (c) TowerCo and the applicable Sublessors shall pay all premiums for the insurance coverage which each such. Party is required to procure and maintain under this Agreement. Each insurance policy (i) shall name the other Party as an additional insured; and (ii) shall provide that the policy cannot be canceled as to the other Party except after the insurer gives the other Party thirty (30) days' written notice of cancellation; and (iii) shall not be subject to invalidation as to the other Party by reason of any actor omission of such Party or any of its officers, employees or agents. la addition, the All Risk property insurance shall contain an appropriate "loss payee" endorsement for AirTouch's and the ~= other sublessors' interest as they appear. - - ~. - (d) As to the Subleased Property of each Site and Managed Components, all policies of insurance shall be written on companies rated A:VII by AM Best or a comparable rating and authorized and licensed in the State where such Site is located. Certificates evidencing inc„ran~ sj~ be in a form reasonably acceptable to the recipient Party, shall be delivered to such Party upon commencement of the Term and priorto expiration of such policy, new certificates evidencing such in~~*ance, shall be delivered to such Party not less than twenty (20) days prior to the expiration of the then current policy term. (e) Nothing in this Section 24 shall prevent AirTouch or TowerCo from obtaining insurance of the kind. and in the amount provided for under this Section 24 under a blanket insurance policy or policies (evidence thereof reasonably satisfactory to the other Party shall be delivered to the other Party by the insuring Party) which may cover other properties owned or operated by the inc~~ring Parry as well as the Subleased Property or the Available Space; provided, however, that any such policy of blanket insurance shall: (i) specify the amounts thereof to the extent such amounts are used to meet the initial limits required pursuant to this Section 24, it being understood that such specification shall not diminish or limit the availability of the entire amount of the blanket insurance policy; and (ii) provide that such policies of blanket insnr~n_ce shall, as respects the Subleased Property of each Site, contain the various provisions required of such an insurance policy by the foregoing provisions of this Section 24. 25. RIGHT OF SUBSTITUTION; RIGHT OF FIRST REFUSAL. (a) Notwithstanding anything to the contrary contained herein and subject to Section 5(b), a Sublessor shall have the right to modify and/or replace, at such Sublessor's expense, its Communications Equipment at any Site provided said replacement Communications Equipment does not increase by more than 10% the weight or sail area to a level greater than the weight or sail area as of the applicable Site Commencement Date; provided, however, such Sublessor shall have the right to make such modifications or replacements if such Sublessor pays all costs and expenses for a{~y and all structural modifications to the Tower that TowerCo deems reasonably necessary such that thereafter the Tower will have available weight or sail area at least equal to that existing prior to such modification and/or replacement less 10% of the weight and sail area as of the applicable Site Commencement Date. (b) Notwithstanding anything to the contrary contained herein, if during the Term, there is any Available Space in respect of the Subleased Property of any Site, then the applicable Sublessor shall have the Right of Substitution as to such Available Space, provided that the relocation shall not violate the requirements of Section 25(a). The Right of Substitution pursuant to this Section 25(b) may be exercised by such Sublessor at any time, and from time to time, without limit, upon written notice to TowerCo. If such Sublessor elects to exercise its Right of Substitution, then, upon completion of the relocation of the Communications Equipment of such Sublessor on the Tower and Improvements thereon, the previously existing Reserved Space of the applicable Site shall automatically