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Lenders as loss payees. All insurance policies required under this Article 10 shall also provide that the beneficial interest of Landlord in such policies shall be fully transferable. In the event Tenants fails to procure or maintain any policy of insurance required under Article 10, or if the insurance company or coverages provided fail to meet the requirements contained in this Article 10, Landlord may, at its option., purchase such insurance and charge Tenants all costs and expenses incurred in procuring and maintaining such insurance. Section 10.08 Tenants shall provide to Landlord, beginning on the Commencement Date and continuing annually thereafter, certificates (or other evidence reasonably requested by Landlord) from all applicable insurance carriers evidencing the payment of premiums or accompanied by other evidence of such payment (e.g., receipts, canceled checks) in form reasonably satisfactory to Landlord. Each insurance policy required to be carried by Tenants hereunder shall include a provision requiring the insurer to provide Landlord with not less than thirty (30) days' prior written notice of cancellation. Upon the occurrence of both of the following events, Tenants shall pay insurance premiums to Landlord no later than thirty (30) days prior to the date such premiums are due in lieu of payment directly to the applicable the insurance carriers: (i)delivery to Tenants of a written request therefor from Landlord, and(ii)the occurrence and continuance of any Default under this Section 10.08 by Tenants, or any occurrence and the continuance of any Event of Default under any provision in this Lease. Any insurance premiums timely paid by Tenants to Landlord pursuant to this Section shall be applied towards payment of the insurance premium next coming due when such premiums are due and payable. ARTICLE 11 DAMAGE OR DESTRUCTION Section 11.01 If at any time during the Lease Term, the Demised Property or any part thereof shall be damaged or destroyed by fire or other casualty of any kind or mature, Tenants shall promptly apply for all permits required by applicable Law, but in any event not later than sixty (60) days after the first date of such damage or destruction, and, upon issuance of such permits, thereafter diligently proceed to repair, replace or rebuild the Demised Property as nearly as possible to its condition and character immediately prior to such damage, with such variations and Alterations requested by Landlord as may be permitted under (and subject to the provisions of)Article 6(the"Restoration Work"). Section 11.02 All property and casualty insurance proceeds payable to Landlord or Tenants (except (a) insurance proceeds payable to Tenants on account of the Tenants Equipment or Tenants' inventory; and (b) insurance proceeds payable from property or comprehensive general public liability insurance,or any other insurance)at any time as a result of casualty to the Demised Property shall be paid jointly to Landlord and Tenants for purposes of payment for the cost of the Restoration Work, except as may be otherwise expressly set forth herein. Landlord and Tenants shall cooperate in order to obtain the largest possible insurance award lawfully obtainable and shall execute any and all consents and other instruments and take all other actions necessary or desirable in order to effectuate same and to cause such proceeds to be paid as hereinbefore provided. The proceeds of any such insurance in the case of loss shall, to the extent necessary, be used first for the Restoration Work {including if completed by Landlord or a third 15