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08-28-14 Redevelopment Commisssion Meeting
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6C(2)
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I <br /> (1) any claim that the Equipment infringes, violates, or misappropriates the intellectual <br /> 1 <br /> property rights of any third party; and/or <br /> (2) any claim for personal injury or property damage for Equipment that has been negligently <br /> designed or manufactured. <br /> (c) Indemnification Procedures. A party seeking indemnification hereunder (the "Indemnified <br /> Party") shall promptly notify the other party (the "Indemnifying Party") in writing of any claim <br /> and shall provide the Indemnifying Party any related documents constituting the basis for such <br /> claim. The failure by an Indemnified Party to timely furnish the Indemnifying Party any notice or • <br /> documentation under this Section 12(c) shall not relieve the Indemnifying Party from any <br /> responsibility for the matters relating to such notice or documentation, except to the extent such <br /> failure materially and adversely prejudices the ability of the Indemnifying Party to defend such <br /> claim. <br /> (d) Limitation of Liability. Except for liability for third party claims, in no event shall either <br /> party be liable for any indirect, incidental, special, exemplary, punitive or consequential damages <br /> of any kind whatsoever (including lost profits or loss of goodwill) even if the party has been <br /> advised of the possibility of such damages. <br /> 13. Insurance. Lessee shall obtain and maintain in full force and effect during the Term and <br /> until the Equipment is returned to Lessor, at Lessee's expense, a policy or policies of insurance <br /> insuring against all risks of loss or damage from every and any cause whatsoever, including, <br /> without limitation,damage to or loss of the Equipment by extended casualty, fire,theft, vandalism <br /> and malicious mischief, and with such other coverages as Lessor may reasonably require <br /> from time to time, all such insurance to be issued by financially secure and reputable insurers <br /> acceptable to Lessor and in amounts not less than One Hundred Percent(100%)of the full <br /> replacement value of the Equipment naming Lessor as loss payee, and providing by the policy <br /> terms that Lessor shall be given not less than thirty (30) days' prior notice of any cancellation or <br /> decrease in coverage ("Required Insurance"). Lessee shall also, at its own expense, carry public <br /> liability insurance, in such amounts with such companies and in such form as is reasonably <br /> satisfactory to Lessor, and which name Lessor as an additional insured, with respect to injury to <br /> person or property resulting from or based in any way upon or in any way connected with or <br /> relating to the installation, use, or alleged use, or operation of any or all of the Equipment, or its <br /> location or condition. Lessee shall, upon request by Lessor, provide Lessor with a certificate of <br /> insurance or other certified evidence that Lessee is in compliance with the terms of this Section 13. <br /> All policies of insurance required under this Section 13 shall clearly indicate that Lessor is the <br /> owner of the insured Equipment and that Lessee holds only a leasehold interest in the Equipment. <br /> 14. Risk of Loss. From and after the time the Equipment is delivered to the shipment courier <br /> for delivery to Lessee or directly to Lessee, and until such time as the Equipment is returned to <br /> Lessor in Returnable Condition, Lessee hereby assumes and shall bear the entire risk of loss, <br /> damage, malfunction, accident, theft and destruction of and to the Equipment, or any portion <br /> 4 thereof, from any cause whatsoever. Lessee shall promptly notify Lessor and provide Lessor with <br /> detailed information regarding any such occurrence within two (2) business days of any such <br /> occurrence. <br /> 6 <br />
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