Form of insurance. All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereof.
Appears in 6 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Form of insurance. All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or in the case of a certified blanket policy, a copy thereof (which is of the original policy certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's notice address as specified in Article XXXIII hereof {this Lease (the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless endorsements and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, certificates which provide that the insurer will provide "endeavor to" give notice before same may be altered, allowed to expire or canceled will not less than ten (10) days' prior written notice be acceptable to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by the Lessee hereunder shall provide (i) that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty sixty (3060) days' prior written notice at the address provided in Section XXXIII hereofLessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, LP, Attention: Its President, 1000 Urban Center Drive, Suite 501, Birmingham, Alabama 35242, and (xx) xxxx xx xxx xxxxx xx xxxxxxxxxxxx xxx xx xxx-xxxxxxx xx xremium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, LP, Attention: Its President, 1000 Urban Center Drive, Suite 501, Birmingham, Alabama 35242.
Appears in 3 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Form of insurance. All of the policies of insurance referred to in this Section 13.4 shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or in the case of a certified blanket policy, a copy thereof (which is of the original policy certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, policy to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to policy no later than the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section 13.4 shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's notice address as specified in Article XXXIII hereof {this Lease (the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless endorsements and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, certificates which provide that the insurer will provide "endeavor to" give notice before same may be altered, allowed to expire or canceled will not less than ten (10) days' prior written notice be acceptable to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by the Lessee hereunder shall provide (i) that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty sixty (3060) days' prior written notice at the address provided in Section XXXIII hereofLessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, L.P., Attention: Its President, 1000 Urban Center Drive, Suite 501, Birmingham, Alabama 35242, and (xx) xxxx xx xxx xxxxx xx xxxxxxxxxxxx xxx xx xxx-xxxxxxx xx xremium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, L.P., Attention: Its President, 1000 Urban Center Drive, Suite 501, Birmingham, Alabama 35242.
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Form of insurance. All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof At least five (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, 5) Business Days prior to the Lessor effective with the Commencement applicable Acquisition Date and furnished annually thereafter (and, with respect to any renewal policya particular Facility, and thereafter, at least fifteen ten (1510) Business Days prior to any insurance policy expiration date, Lessee shall provide verification of required insurance coverage for the following year which shall include the following:
(a) No later than the date that is forty‑five (45) days prior to after the applicable Acquisition Date and any such insurance policy expiration date, true and certified copies of the existing policyrequired insurance policies.
(b) and in In the event of Lessee does not provide timely or proper verification, or does not maintain the failure of Lessee either to obtain such insurance in the names herein called for required hereunder or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor at the times requiredas required hereunder, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand thereforas provided in this Lease, and failure to repay the same adhere to those repayment provisions shall constitute an Event of Default within the meaning of Section 16.1(c16.1(a). Each Lessee acknowledges and agrees that any insurance policies, endorsements and/or binders or certificates that provide that the insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will "endeavor to" give to Lessor sixty (60) days' prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "Lessor's Notice Address")) before the policy or policies in question shall same may be altered, allowed to expire expire, or canceled, (ii) the policy canceled will not lapsebe acceptable to Lessor, terminateand Lessee shall use its commercially reasonable efforts to cause such language to be deleted from such any insurance policies, be canceled endorsements and/or binders or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Addresscertificates. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall (but only to the extent commercially available) provide (i) that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at Lessor's notice address as specified in this Lease (the address provided "Lessor's Notice Address"), with a simultaneous copy to (A) MPT Operating Partnership, L.P., Attention: President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and (B) XxXxxxx, Xxxxxxx & Xxxxxxxx, Inc., Attention: Xxxx X. Xxxxxx, 0000 0xx Xxxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx 00000, and (ii) that in Section XXXIII hereof.the event of cancellation due to non‑payment of premium, the insurer will provide not less than ten (10) days' prior written notice to Lessor at Lessor's Notice Address, with a simultaneous copy to (A) MPT Operating Partnership, L.P., Attention: President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and
Appears in 1 contract
Samples: Master Funding and Development Agreement (Adeptus Health Inc.)
Form of insurance. All of the policies of insurance referred to in this Section 13.4 shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or in the case of a certified blanket policy, a copy thereof (which is of the original policy certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, policy to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to policy no later than the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section 13.4 shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's notice address as specified in Article XXXIII hereof {this Lease (the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceled will not be acceptable to Lessor. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by the Lessee hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at the Lessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, L.P., Attention: Its President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein , with a simultaneous copy to the contraryMPT Operating Partnership, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapseL.P., terminateAttention: Its President, be canceled0000 Xxxxx Xxxxxx Xxxxx, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereofXxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor the MPT Parties and by insurance companies satisfactory to Lessorthe MPT Parties. Lessee The Borrower Parties, jointly and severally, shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy)or, or in the case of a blanket policy, a copy of the original policy certified in writing, by a duly authorized agent for the insurance company, as a "true and certified" copy of the policy, to the Lessor MPT Parties effective with the Commencement Closing Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and and, in the event of the failure of Lessee Alliance either to obtain such insurance in the names herein called for or to pay the premiums therefor, therefor or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor the MPT Parties at the times required, Lessor MPT shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor the MPT Parties upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c)this Agreement. Each insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessorthe MPT Parties, that (i) it will give to Lessor the MPT Parties sixty (60) days' prior written notice (at Lessor's the MPT Parties' notice address as specified in Article XXXIII hereof {the this Agreement ("LessorMPT's Notice Address")) before the policy or policies in question shall be altered, allowed to expire, or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceledcanceled will not be acceptable to the MPT Parties. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Alliance hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has the MPT Parties have received not less than sixty (60) days' prior written notice at LessorMPT's Notice Address, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor MPT Parties at the LessorMPT's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereof.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or in the case of a certified blanket policy, a copy thereof (which is of the original policy certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's notice address as specified in Article XXXIII hereof this Lease {the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceled will not be acceptable to Lessor. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by the Lessee hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at the Lessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, LP, Attention: Its President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein , with a simultaneous copy to the contraryMPT Operating Partnership, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapseLP, terminateAttention: Its President, be canceled0000 Xxxxx Xxxxxx Xxxxx, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereofXxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section Article 9 shall be written in form reasonably satisfactory to Lessor Landlord and by insurance companies satisfactory to LessorLandlord. Lessee Tenant shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "“true and certified" ” copy of the policy), or in the case of a blanket policy, a copy of the original policy, ) to the Lessor Landlord effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days evidence of such renewal prior to the expiration of the existing policy) and in the event of the failure of Lessee Tenant either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor Landlord at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor Landlord upon written demand therefor, as Additional Charges, together with a late charge at the Overdue Rate from the date such payment is made until the date repaid. All insurance policies and failure renewals thereof (i) shall provide for a term of not less than one year, (ii) shall provide for claims to repay be made on an occurrence basis, and (iii) shall contain a statement of values to be updated annually (if the same shall constitute an Event amount of Default within coverage under such policy is based upon the meaning replacement cost of Section 16.1(cany applicable individual Property). All property damage insurance policies (except for flood and earthquake policies) must automatically reinstate after each loss. Each insurer mentioned in this Section Article 9 shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that (i) it will give to Lessor sixty Landlord thirty (6030) days' ’ prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "Lessor's Landlord’s Notice Address")) Address before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless endorsements and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, certificates which provide that the insurer will provide “endeavor to” give notice before same may be altered, allowed to expire or canceled will not less than ten (10) days' prior written notice be acceptable to the Lessor at the Lessor's Notice AddressLandlord. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee Tenant hereunder shall provide (i) that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor Landlord has received not less than thirty (30) days' ’ prior written notice at Landlord’s Notice Address, and (ii) that in the address provided in Section XXXIII hereofevent of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days’ prior written notice to Landlord at Landlord’s Notice Address.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section Article shall be written in form a form, and issued by insurance companies, reasonably satisfactory to Lessor and by Landlord. Landlord agrees that it will not unreasonably withhold or delay its approval as to the form of the policies or the insurance companies satisfactory to Lessorselected by Tenant. Lessee Tenant shall pay all of the premiums therefor, and shall deliver such an original policiesor certified copy of any policy, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policyrenewal thereof, to the Lessor effective with the Commencement Date Landlord, any Facility Mortgagee and furnished annually thereafter (and, with respect to any renewal policy, Landlord Lender at least fifteen (15) 10 days prior to the expiration of the existing policy) and in the event of the failure of Lessee policy to which such renewal policy relates. If Tenant either fails to obtain effect such insurance in the names as herein called for required or to pay the premiums therefor, or to deliver such policies or certified copies of such policies thereof to Lessor Landlord at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to obtain effect such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor Landlord upon written demand therefortherefor in a Notice, and failure by Tenant to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c17.1(d). Each insurer mentioned in this Section Article shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that (i) it will give to Lessor sixty Landlord (60and to any Facility Mortgagee and Landlord Lender of which Tenant has notice, if required) days' 30 days prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "Lessor's Notice Address")) before the such policy or policies in question shall be alteredexpire, allowed to expire are altered or canceled, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereofare cancelled.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section Article XIII shall be written in form reasonably satisfactory to Lessor Landlord and by insurance companies satisfactory to LessorLandlord. Lessee Tenant shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor Landlord and Land Owner effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee Tenant either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor Landlord and Land Owner at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor Landlord upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c)Default. Each insurer mentioned in this Section Article XIII shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that (i) it will give to Lessor Landlord sixty (60) days' prior written notice (at LessorLandlord's notice address as specified in Article XXXIII hereof {the this Lease ("LessorLandlord's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceled will not be acceptable to Landlord. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Tenant hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor Landlord has received not less than sixty (60) days' prior written notice at LessorLandlord's Notice Address, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor Landlord at the LessorLandlord's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereof.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof At least five (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, 5) Business Days prior to the Lessor effective with the Commencement applicable Acquisition Date and furnished annually thereafter (and, with respect to any renewal policya particular Facility, and thereafter, at least fifteen ten (1510) Business Days prior to any insurance policy expiration date, Lessee shall provide verification of required insurance coverage for the following year which shall include the following:
(a) No later than the date that is forty‑five (45) days prior to after the applicable Acquisition Date and any such insurance policy expiration date, true and certified copies of the existing policyrequired insurance policies.
(b) and in In the event of Lessee does not provide timely or proper verification, or does not maintain the failure of Lessee either to obtain such insurance in the names herein called for required hereunder or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor at the times requiredas required hereunder, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand thereforas provided in this Lease, and failure to repay the same adhere to those repayment provisions shall constitute an Event of Default within the meaning of Section 16.1(c16.1(a). Each Lessee acknowledges and agrees that any insurance policies, endorsements and/or binders or certificates that provide that the insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will "endeavor to" give to Lessor sixty (60) days' prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "Lessor's Notice Address")) before the policy or policies in question shall same may be altered, allowed to expire expire, or canceled, (ii) the policy canceled will not lapsebe acceptable to Lessor, terminateand Lessee shall use its commercially reasonable efforts to cause such language to be deleted from such any insurance policies, be canceled endorsements and/or binders or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Addresscertificates. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall (but only to the extent commercially available) provide (i) that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at Lessor's notice address as specified in this Lease (the address provided "Lessor's Notice Address"), with a simultaneous copy to (A) MPT Operating Partnership, L.P., Attention: President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and (B) XxXxxxx, Xxxxxxx & Xxxxxxxx, Inc., Attention: Xxxx X. Xxxxxx, 0000 0xx Xxxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx 00000, and (ii) that in Section XXXIII hereofthe event of cancellation due to non‑payment of premium, the insurer will provide not less than ten (10) days' prior written notice to Lessor at Lessor's Notice Address, with a simultaneous copy to (A) MPT Operating Partnership, L.P., Attention: President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and (B) XxXxxxx, Xxxxxxx & Xxxxxxxx, Inc., Attention: Xxxx X. Xxxxxx, 0000 0xx Xxxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx 00000.
Appears in 1 contract
Samples: Master Funding and Development Agreement (Adeptus Health Inc.)
Form of insurance. All of the policies of insurance referred to in this Section Article 9 shall be written in form reasonably satisfactory to Lessor Landlord and by insurance companies satisfactory to LessorLandlord. Lessee Tenant shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, ) to the Lessor Landlord effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days evidence of such renewal prior to the expiration of the existing policy) and in the event of the failure of Lessee Tenant either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor Landlord at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor Landlord upon written demand therefor, as Additional Charges, together with a late charge at the Overdue Rate from the date such payment is made until the date repaid. All insurance policies and failure renewals thereof (i) shall provide for a term of not less than one year, (ii) shall provide for claims to repay be made on an occurrence basis, and (iii) shall contain a statement of values to be updated annually (if the same shall constitute an Event amount of Default within coverage under such policy is based upon the meaning replacement cost of Section 16.1(cany applicable individual Property). All property damage insurance policies (except for flood and earthquake policies) must automatically reinstate after each loss. Each insurer mentioned in this Section Article 9 shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that (i) it will give to Lessor sixty Landlord thirty (6030) days' prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "LessorLandlord's Notice Address")) Address before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceled will not be acceptable to Landlord. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Tenant hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor Landlord has received not less than sixty thirty (6030) days' prior written notice at LessorLandlord's Notice Address, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor Landlord at the LessorLandlord's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereof.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or in the case of a certified blanket policy, a copy thereof (which is of the original policy certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's notice address as specified in Article XXXIII hereof this Lease {the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless endorsements and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, certificates which provide that the insurer will provide "endeavor to" give notice before same may be altered, allowed to expire or canceled will not less than ten (10) days' prior written notice be acceptable to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by the Lessee hereunder shall provide (i) that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty sixty (3060) days' prior written notice at the address provided in Section XXXIII hereofLessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, LP, Attention: Its President, 1000 Urban Center Drive, Suite 501, Birmingham, Alabama 35242, and (xx) xxxx xx xxx xxxxx xx xxxxxxxxxxxx xxx xx xxx-xxxxxxx xx premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, LP, Attention: Its President, 1000 Urban Center Drive, Suite 501, Birmingham, Alabama 35242.
Appears in 1 contract
Form of insurance. All Except as may be limited in Section 13.2 with respect to the purchase of additional insurance by Lessor, Lessee shall pay all of the premiums for all of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums thereforArticle, and shall deliver such original policies, or in the case of a certified blanket policy, a copy thereof (which is of the original policy certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's notice address as specified in Article XXXIII hereof {this Lease (the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceled will not be acceptable to Lessor. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by the Lessee hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at the Lessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, L.P., Attention: Its President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein , with a simultaneous copy to the contraryMPT Operating Partnership, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapseL.P., terminateAttention: Its President, be canceled0000 Xxxxx Xxxxxx Xxxxx, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereofXxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section 13.4 shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or in the case of a certified blanket policy, a copy thereof (which is of the original policy certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, policy to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies (if allowed hereunder) to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section 13.4 shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's notice address as specified in Article XXXIII hereof {this Lease (the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceled will not be acceptable to Lessor. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by the Lessee hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at the Lessor's Notice Address, with a simultaneous copy to MPT Operating Partnership, L.P., Attention: Its President, 0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein , with a simultaneous copy to the contraryMPT Operating Partnership, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapseL.P., terminateAttention: Its President, be canceled0000 Xxxxx Xxxxxx Xxxxx, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereofXxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section Article shall be written in form reasonably a form, and issued by insurance companies, satisfactory to Lessor and by Landlord. Landlord agrees that it will not unreasonably withhold or delay its approval as to the form of the policies or the insurance companies satisfactory to Lessorselected by Tenant. Lessee Tenant shall pay all of the premiums therefor, and shall deliver such an original policiesor certified copy of any policy, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policyrenewal thereof, to the Lessor effective with the Commencement Date Landlord, any Facility Mortgagee and furnished annually thereafter (and, with respect to any renewal policy, Landlord Lender at least fifteen (15) 10 days prior to the expiration of the existing policy) and in the event of the failure of Lessee policy to which such renewal policy relates. If Tenant either fails to obtain effect such insurance in the names as herein called for required or to pay the premiums therefor, or to deliver such policies or certified copies of such policies thereof to Lessor Landlord at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to obtain effect such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor Landlord upon written demand therefortherefor in a Notice, and failure by Tenant to -38- 44 repay the same shall constitute an Event of Default within the meaning of Section 16.1(c17.1(d). Each insurer mentioned in this Section Article shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that (i) it will give to Lessor sixty Landlord (60and to any Facility Mortgagee and Landlord Lender of which Tenant has notice, if required) days' 30 days prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "Lessor's Notice Address")) before the such policy or policies in question shall be alteredexpire, allowed to expire are altered or are canceled, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereof.
Appears in 1 contract
Form of insurance. All of the policies of insurance referred to in this Section Article XIII shall be written in form reasonably satisfactory to Lessor Landlord and by insurance companies satisfactory to LessorLandlord. Lessee Tenant shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor Landlord effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee Tenant either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor Landlord at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor Landlord upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c)Default. Each insurer mentioned in this Section Article XIII shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that (i) it will give to Lessor Landlord sixty (60) days' prior written notice (at LessorLandlord's notice address as specified in Article XXXIII hereof {the this Lease ("LessorLandlord's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled. The parties hereto agree that all insurance policies, endorsements and certificates which provide that the insurer will "endeavor to" give notice before same may be altered, allowed to expire or canceled will not be acceptable to Landlord. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Tenant hereunder shall provide (iii) the policy that such policies will not lapse, terminate, be canceled canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor Landlord has received not less than sixty (60) days' prior written notice at LessorLandlord's Notice Address, and (iiiii) that in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor Landlord at the LessorLandlord's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereof.
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