Common use of Exceptions to Insurance Requirements Clause in Contracts

Exceptions to Insurance Requirements. Tenant has advised Landlord that, to the extent described on Schedule 2, it is not in compliance as of the date hereof with the requirements set forth in Section 6.1. Tenant nonetheless represents and warrants to Landlord that the policies of insurance (including the deductible or self-insured retention provisions thereof) and risk management programs that Tenant has in effect as of the date hereof are, and as may be in effect at any time during the Term will be, consistent with custom, practice and prudent management standards in the State[s] in the business and industry in which Tenant is engaged. As and when insurance meeting the requirements set forth in Section 6.1 becomes generally available to operators of healthcare facilities similar to the Facilities and owned by institutional landlords at commercially reasonable rates, as jointly determined by Landlord and Tenant in their respective reasonable judgment, Tenant shall purchase and maintain such insurance. Tenant’s non-compliance with the requirements of Section 6.1 shall not give rise to an Event of Default so long as (a) no other Event of Default then exists, (b) such non-compliance is strictly limited to the matters described on Schedule 2, as it may be amended from time to time during the Term with the consent of Landlord in its sole and absolute discretion, (c) the representations and warranties set forth in this Section 6.2 remain true, correct and complete in all respects, and (d) Tenant is in compliance with the other covenants contained in this Section 6.2 and Section 6.3. Notwithstanding anything to the contrary set forth herein, if any insurance provided by Tenant in accordance with Schedule 2 provides for coverage on a “claims-made” basis, every “claims made” renewal or replacement policy shall continue to show the first date of claims made coverage as of the Effective Date, or a date prior thereto, as its prior acts/retroactive or continuity date. Furthermore, if any “claims made” policy is cancelled or non-renewed, and not replaced by an “occurrence” policy with “full prior acts”, Tenant will purchase an “Extended Reporting Provision Option” (i.e., tail coverage), for a minimum of two (2) years, and if any “claims made” policy is subsequently replaced by an “occurrence” policy, Tenant agrees that said “occurrence” policy will contain a “full prior acts” provision.

Exceptions to Insurance Requirements. Tenant has advised Landlord that, to the extent described on Schedule 23, it is not in compliance as of the date hereof with the requirements set forth in Section 6.1. Tenant nonetheless represents and warrants to Landlord that the policies of insurance (including the deductible or self-insured retention provisions thereof) and risk management programs that Tenant has in effect as of the date hereof are, and as may be in effect at any time during the Term will be, consistent with custom, practice and prudent management standards in the State[s] States in the business and industry in which Tenant is engaged. As and when insurance meeting the requirements set forth in Section 6.1 becomes generally available to operators of healthcare facilities similar to the Facilities and owned by institutional landlords at commercially reasonable rates, as jointly determined by Landlord and Tenant in their respective reasonable judgment, Tenant shall purchase and maintain such insurance. Tenant’s non-compliance with the requirements of Section 6.1 shall not give rise to an Event of Default so long as (a) no other Event of Default then exists, (b) such non-compliance is strictly limited to the matters described on Schedule 23, as it may be amended from time to time during the Term with the consent of Landlord in its sole and absolute discretion, (c) the representations and warranties set forth in this Section 6.2 remain true, correct and complete in all respects, and (d) Tenant is in compliance with the other covenants contained in this Section 6.2 and Section 6.3. Notwithstanding anything to the contrary set forth herein, if any insurance provided by Tenant in accordance with Schedule 2 3 provides for coverage on a “claims-made” basis, every “claims made” renewal or replacement policy shall continue to show the first date of claims made coverage as of the Effective Date, or a date prior thereto, as its prior acts/retroactive or continuity date. Furthermore, if any “claims made” policy is cancelled or non-renewed, and not replaced by an “occurrence” policy with “full prior acts”, Tenant will purchase an “Extended Reporting Provision Option” (i.e., tail coverage), for a minimum of two (2) years, and if any “claims made” policy is subsequently replaced by an “occurrence” policy, Tenant agrees that said “occurrence” policy will contain a “full prior acts” provision.

Exceptions to Insurance Requirements. Tenant has advised Landlord that, to the extent described on Schedule 21, it is not in compliance as of the date hereof Effective Date with the requirements set forth in Section 6.1. Tenant nonetheless represents and warrants to Landlord that the policies of insurance (including the deductible or self-insured retention provisions thereof) and risk management programs that Tenant has in effect as of the date hereof Effective Date are, and as may be in effect at any time during the Term will be, consistent with custom, practice and prudent management standards in the State[s] in the business and industry in which Tenant is engaged. As and when insurance meeting the requirements set forth in Section 6.1 becomes generally available to operators of healthcare assisted living facilities similar to the Facilities and owned by institutional landlords and similar to the Facility at commercially reasonable rates, as jointly determined by Landlord and Tenant in their respective reasonable judgment, Tenant shall purchase and maintain such insurance. Tenant’s non-compliance with the requirements of Section 6.1 shall not give rise to an Event of Default so long as (ai) no other Event of Default then exists, (bii) such non-compliance is strictly limited to the matters described on Schedule 21, as it may be amended from time to time during the Term with the consent of Landlord in its sole and absolute discretion, (ciii) the representations and warranties set forth in this Section 6.2 remain true, correct and complete in all respects, and (div) Tenant is in compliance with the other covenants contained in this Section 6.2 and Section 6.3. Notwithstanding anything to the contrary set forth herein, if any insurance provided by Tenant in accordance with Schedule 2 1 provides for coverage on a “claims-made” basis, every “claims made” renewal or replacement policy shall continue to show the first date of claims made coverage as of the Effective Date, or a date prior thereto, as its prior acts/retroactive or continuity date. Furthermore, if any “claims made” policy is cancelled or non-renewed, and not replaced by an “occurrence” policy with “full prior acts”, Tenant will purchase an “Extended Reporting Provision Option” (i.e., tail coverage), for a minimum of two (2) years, and if any “claims made” policy is subsequently replaced by an “occurrence” policy, Tenant agrees that said “occurrence” policy will contain a “full prior acts” provision.

Exceptions to Insurance Requirements. Tenant has advised Landlord that, to the extent described on Schedule 21, it is not in compliance as of the date hereof Effective Date with the requirements set forth in Section 6.1. Tenant nonetheless represents and warrants to Landlord that the policies of insurance (including the deductible or self-insured retention provisions thereof) and risk management programs that Tenant has in effect as of the date hereof Effective Date are, and as may be in effect at any time during the Term will be, consistent with custom, practice and prudent management standards in the State[s] in the business and industry in which Tenant is engaged. As and when insurance meeting the requirements set forth in Section 6.1 becomes generally available to operators of healthcare assisted living facilities similar to the Facilities and owned by institutional landlords and similar to the Facility at commercially reasonable rates, as jointly determined by Landlord and Tenant in their respective reasonable judgment, Tenant shall purchase and maintain such insurance. Tenant’s non-compliance with the requirements of Section 6.1 shall not give rise to an Event of Default so long as (ai) no other Event of Default then exists, (bii) such non-compliance is strictly limited to the matters described on Schedule 21, as it may be amended from time to time during the Term with the consent of Landlord in its sole and absolute discretion, (ciii) the representations and warranties set forth in this Section 6.2 remain true, correct and complete in all respects, and (div) Tenant is in compliance with the other covenants contained in this Section 6.2 and Section 6.3. Notwithstanding anything to the contrary set forth herein, if any insurance provided by Tenant in accordance with Schedule 2 1 provides for coverage on a “"claims-made” " basis, every “"claims made” " renewal or replacement policy shall continue to show the first date of claims made coverage as of the Effective Date, or a date prior thereto, as its prior acts/retroactive or continuity date. Furthermore, if any “"claims made” " policy is cancelled or non-renewed, and not replaced by an “"occurrence” " policy with “"full prior acts”", Tenant will purchase an “"Extended Reporting Provision Option” " (i.e., tail coverage), for a minimum of two (2) years, and if any “"claims made” " policy is subsequently replaced by an “"occurrence” " policy, Tenant agrees that said “"occurrence” " policy will contain a “"full prior acts” " provision.

Exceptions to Insurance Requirements. Tenant has advised Landlord ------------------------------------ that, to the extent described on Schedule 23, it is not in compliance as of the date hereof ---------- Effective Date with the requirements set forth in Section 6.1. Tenant ----------- nonetheless represents and warrants to Landlord that the policies of insurance (including the deductible or self-insured retention provisions thereof) and risk management programs that Tenant has in effect as of the date hereof Effective Date are, and as may be in effect at any time during the Term will be, consistent with custom, practice and prudent management standards in the State[s] in the business and industry in which Tenant is engaged. As and when insurance meeting the requirements set forth in Section 6.1 becomes generally available to operators of healthcare assisted living ----------- facilities and alzheimer's care facilities owned by institutional landlords and -------- similar to the Facilities and owned by institutional landlords at commercially reasonable rates, as jointly determined by Landlord and Tenant in their respective reasonable judgment, Tenant shall purchase and maintain such insurance. Tenant’s 's non-compliance with the requirements of Section 6.1 shall not give rise to an Event of Default so ----------- long as (aI) no other Event of Default then exists, (bII) such non-compliance is strictly limited to the matters described on Schedule 23, as it may be amended from time ---------- to time during the Term with the consent of Landlord in its sole and absolute discretion, (cIII) the representations and warranties set forth in this Section 6.2 remain ----------- true, correct and complete in all respects, and (dIV) Tenant is in compliance with the other covenants contained in this Section 6.2 and Section 6.3. ----------- ----------- Notwithstanding anything to the contrary set forth herein, if any insurance provided by Tenant in accordance with Schedule 2 3 provides for coverage on a “---------- "claims-made” " basis, every “"claims made” " renewal or replacement policy shall continue to show the first date of claims made coverage as of the Effective Date, or a date prior thereto, as its prior acts/retroactive or continuity date. Furthermore, if any “"claims made” " policy is cancelled or non-renewed, and not replaced by an “"occurrence” " policy with “"full prior acts”", Tenant will purchase an “"Extended Reporting Provision Option” " (i.e., tail coverage), for a minimum of two (2) years, and if any “"claims made” " policy is subsequently replaced by an “"occurrence” " policy, Tenant agrees that said “"occurrence” " policy will contain a “"full prior acts” " provision.

Exceptions to Insurance Requirements. Tenant has advised Landlord ------------------------------------ that, to the extent described on Schedule 23, it is not in compliance as of the date hereof ---------- Effective Date with the requirements set forth in Section 6.1. Tenant ----------- nonetheless represents and warrants to Landlord that the policies of insurance (including the deductible or self-insured retention provisions thereof) and risk management programs that Tenant has in effect as of the date hereof Effective Date are, and as may be in effect at any time during the Term will be, consistent with custom, practice and prudent management standards in the State[s] in the business and industry in which Tenant is engaged. As and when insurance meeting the requirements set forth in Section 6.1 becomes generally available to operators of healthcare assisted living ----------- facilities and alzheimer's care facilities owned by institutional landlords and -------- similar to the Facilities and owned by institutional landlords at commercially reasonable rates, as jointly determined by Landlord and Tenant in their respective reasonable judgment, Tenant shall purchase and maintain such insurance. Tenant’s 's non-compliance with the requirements of Section 6.1 shall not give rise to an Event of Default so ----------- long as (aI) no other Event of Default then exists, (bII) such non-compliance is strictly limited to the matters described on Schedule 23, as it may be amended from time ---------- to time during the Term with the consent of Landlord in its sole and absolute discretion, (cIII) the representations and warranties set forth in this Section 6.2 remain ----------- true, correct and complete in all respects, and (dIV) Tenant is in compliance with the other covenants contained in this Section 6.2 and Section 6.3. ----------- ----------- Notwithstanding anything to the contrary set forth herein, if any insurance provided by Tenant in accordance with Schedule 2 3 provides for coverage on a “---------- "claims-made” " basis, every “"claims made” " renewal or replacement policy shall continue to show the first date of claims made coverage as of the Effective Lease Commencement Date, or a date prior thereto, as its prior acts/retroactive or continuity date. Furthermore, if any “"claims made” " policy is cancelled or non-renewed, and not replaced by an “"occurrence” " policy with “"full prior acts”", Tenant will purchase an “"Extended Reporting Provision Option” " (i.e., tail coverage), for a minimum of two (2) years, and if any “"claims made” " policy is subsequently replaced by an “"occurrence” " policy, Tenant agrees that said “"occurrence” " policy will contain a “"full prior acts” " provision.