Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 35 contracts
Samples: Hotel Lease Agreement (Moody National REIT II, Inc.), Hotel Lease Agreement, Hotel Lease Agreement (Moody National REIT II, Inc.)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee Section shall be written in a form, with deductibles form satisfactory to Lessor and any Superior Lessor and Facility Mortgagee and by insurance companies satisfactory to LessorLessor and any Superior Lessor and Facility Mortgagee. Lessee Lessor agrees that it will not unreasonably withhold, delay or condition its approval as to the form of the policies of insurance or as to the insurance companies selected by Tenant. Tenant shall pay all of the premiums therefortherefor not later than the earlier of the date which is thirty (30) days after Tenant’s receipt of an invoice therefor or the due date of the applicable premium, and shall deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee Tenant either to effect such insurance as in the names herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor and each Superior Lessor and Facility Mortgagee at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee which premiums shall reimburse be repayable to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(c). Each insurer mentioned in this Article 13 Section shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to LessorLessor and any Superior Lessor and Facility Mortgagee, that it will give to Lessor thirty (30) days’ written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 13 contracts
Samples: Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc), Guaranty of Lease (Kindred Healthcare, Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 9 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc), Master Hotel Lease Agreement (Apple Suites Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by that are the responsibility of the Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and of the Franchise Agreement. The Lessee shall pay all of the premiums therefor, and deliver copies of such policies or certificates thereof to the Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of the Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to the Lessor at the times required, the Lessor shall be entitled, but shall have no obligation, after 10 days' Notice to Lessee (or after less than 10 days' Notice if required to prevent the expiration of any existing policy), to effect such insurance and pay the premiums therefor, and to be reimbursed by Lessee shall reimburse Lessor for any premium or such premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, the Lessor that it will give to Lessor thirty (30) 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 9 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor. Subject to the foregoing, Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1Paragraph 16.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ days written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceledcancel.
Appears in 5 contracts
Samples: Lease (Assisted Living Concepts Inc), Lease (LTC Healthcare Inc), Lease And (LTC Healthcare Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Subject to the right to reimbursement or credit specified in Section XIII, Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or binding certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section (other than the premiums required to be paid or reimbursed to Lessee by Lessor in accordance with Section 13.1(b)) upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) 30 days’ written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 5 contracts
Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Master Lease Agreement (Supertel Hospitality Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor. Lessee shall pay all of the premiums therefor, relating to insurance coverage required per Section 13.1 and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in annually thereafter. In the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefortherefore, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefortherefore, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages coverage required of Lessee under this Article 13 Section upon written demand therefortherefore, and Lessee’s failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ at least 60 days written notice before the coverage under such policy or policies in question shall be materially alteredreduced, allowed to expire or canceledcancelled.
Appears in 5 contracts
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to LessorLessor (and, as applicable, any Facility Mortgagee). Subject to the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceled.
Appears in 4 contracts
Samples: Master Lease Agreement (Assisted Living Concepts Inc), Master Lease Agreement (Assisted Living Concepts Inc), Memorandum of Understanding (LTC Properties Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee ARTICLE XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to LessorLessor (and, as applicable, any Facility Mortgagee). Subject to the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section SECTION 16.1. Each insurer mentioned in this Article 13 ARTICLE XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ ' written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceled.
Appears in 4 contracts
Samples: Master Lease Agreement (Brookdale Senior Living Inc.), Master Lease Agreement (Brookdale Senior Living Inc.), Lease (Brookdale Senior Living Inc.)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor. Subject to the foregoing, Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1Paragraph 16.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Building Mortgagee, if required by the same) thirty (30) days’ days written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceledcancel.
Appears in 3 contracts
Samples: Lease (New York Bagel Enterprises Inc), Lease (New York Bagel Enterprises Inc), Lease (New York Bagel Enterprises Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor; provided, however, that the qualitative financial condition and operating performance (or claims-paying ability) of such insurance companies must be rated in at least the third highest rating category of a nationally recognized statistical rating organization or rated at least A:VIII by A.M. Best. Lessee shall be permitted to acquire insurance through insurance companies which are Affiliates of Lessee and which otherwise satisfy the requirements of this Article XIII, provided that the terms of such insurance shall be no more favorable to such Affiliates than would the same insurance if purchased from an independent third party. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums thereforthereon, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 3 contracts
Samples: Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section 13.1 upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) 30 days after Notice notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ 30 days written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 3 contracts
Samples: Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to LessorLessor (and, as applicable, any Facility Mortgagee). Subject to the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ ' written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Samples: Master Lease Agreement (Alterra Healthcare Corp), Master Lease Agreement (Alterra Healthcare Corp)
Form Satisfactory, Etc. (a) All of the policies of insurance ----------------------- referred to in this Article 13 to be maintained by Lessee Section shall be written in a form, with deductibles form satisfactory to Lessor and any Superior Lessor and Facility Mortgagee and by insurance companies satisfactory to LessorLessor and any Superior Lessor and Facility Mortgagee. Lessee Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Tenant. Tenant shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty at least ten (3010) days prior to the expiration of the existing policy), and in the event of the failure of Lessee Tenant either to effect such insurance as in the names herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor and each Superior Lessor and Facility Mortgagee at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee which premiums shall reimburse be repayable to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(c). Each insurer mentioned in this Article 13 Section shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to LessorLessor and any Superior Lessor and Facility Mortgagee, that it will give to Lessor thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Samples: Master Lease Agreement (Vencor Healthcare Inc), Master Lease Agreement (Ventas Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor. Lessee shall be permitted to acquire insurance through insurance companies which are Affiliates of Lessee and which otherwise satisfy the requirements of this Article XIII, provided that the terms of such insurance shall be no more favorable to such Affiliates than would the same insurance if purchased from an independent third party. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums thereforthereon, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies satisfactory having an A.M. Best rating of A X or higher or otherwise approved by Lessor in its sole discretion. Subject to Lessorthe foregoing, Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1Paragraph 16.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ days written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceledcancel.
Appears in 2 contracts
Samples: Lease (Tesseract Group Inc), Lease (Tesseract Group Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor; provided, however, that the qualitative financial condition and operating performance (or claims-paying ability) of such insurance companies must be rated in at least the third highest rating category of a nationally recognized statistical rating organization or rated at least A:VIII by A.M. Best. Lessee shall be permitted to acquire insurance through insurance companies which are Affiliates of Lessee and which otherwise satisfy the requirements of this Article XIII, provided that the terms of such insurance shall be no more favorable to such Affiliates than would the same insurance if purchased from an independent third party. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums thereforthereon, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Samples: Consolidated Lease Agreement (Equity Inns Inc), Consolidated Lease Agreement (Equity Inns Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Subject to the right to reimbursement or credit specified in Section XIII, Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or binding certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section (other than the premiums required to be paid or reimbursed to Lessee by Lessor in accordance with Section 13.1(b)) upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc), Master Lease Agreement (Humphrey Hospitality Trust Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Subject to the right to reimbursement or credit specified in Section 13.1, Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or binding certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section (other than the premiums required to be paid or reimbursed to Lessee by Lessor in accordance with Section 13.1(b)) upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(d). Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Samples: Lease Agreement (Humphrey Hospitality Trust Inc), Lease Agreement (Humphrey Hospitality Trust Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and exclusions from coverage and by insurance companies reasonably satisfactory to Lessor. Subject to the right to reimbursement or credit for coverages specified in Subsection 13.1(a) and any other "casualty coverages" required by Lessor, Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Subsection 13.1(b) upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1Subsection 16.1(c). Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Samples: Lease Agreement (Felcor Lodging Trust Inc), Lease Agreement (Bristol Hotels & Resorts Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 XIII to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 XIII upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 2 contracts
Samples: Lease Agreement (Felcor Suite Hotels Inc), Lease Agreement (Itt Corp /Nv/)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums thereforthereon, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b) below. Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Samples: Lease Agreement (Equity Inns Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor. Lessee Subject to the right to reimbursement or credit specified in Section 13.1, Lessor shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor Lessee prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee Lessor either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor Lessee at the times required, Lessor Lessee shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee Lessor shall reimburse Lessor Lessee for any premium or premiums paid by Lessor Lessee for the coverages required of Lessee under this Article 13 Sections 13.1(a) and 13.1(b) upon written demand therefor, and Lessee’s Lessor's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor Lessee shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to LessorLessee, that it will give to Lessor thirty (30) Lessee 30 days’ written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.'
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor. Subject to the foregoing, Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates evidence thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates evidence thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1Paragraph 16.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ days written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceledcancel.
Appears in 1 contract
Samples: Lease (Alterra Healthcare Corp)
Form Satisfactory, Etc. (a) All of the policies of insurance referred ---------------------- to in this Article 13 to be maintained by Lessee Section shall be written in a form, with deductibles form satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefortherefor not later than the earlier of the date which is thirty (30) days after Lessee's receipt of an invoice therefor or the due date of the applicable premium, and shall deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as in the names herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor and any Facility Mortgagee at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee which premiums shall reimburse be repayable to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 Section shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty ten (3010) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceledcancelled.
Appears in 1 contract
Samples: Kindred Healthcare Inc
Form Satisfactory, Etc. (a) All of the policies of insurance referred ---------------------- to in this Article 13 XIII that are to be maintained obtained by Lessee Tenant shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLandlord. Lessee Tenant shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor Landlord prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee Tenant either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor Landlord at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee Tenant shall reimburse Lessor Landlord for any premium or premiums paid by Lessor Landlord for the coverages required of Lessee under this Article 13 XIII upon written demand therefor, and Lessee’s Tenant's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor Landlord shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer providing the insurance mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that it will give to Lessor thirty (30) Landlord 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to LessorLessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Lessee shall pay all of the premiums therefor, and deliver such to Lessor policies or certificates thereof to Lessor prior to of the insurance required under 13.1 above as of their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect obtain such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect obtain such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(d). Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ written notice before Lessor, the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee VII shall be written in a form, with deductibles form reasonably satisfactory to Lender and by insurance companies satisfactory to Lessorrated not less than B+, XI by A.M. Best's Insurance Guide. Lessee Borrower shall pay all premiums for the policies of the premiums therefor, insurance referred to in Sections 7.1 and 7.2 and shall deliver such policies or certificates thereof to Lessor Lender prior to their effective date (and, and with respect to any renewal policy, thirty at least ten (3010) days prior to the expiration of the existing policy), and in . In the event of the failure of Lessee either Borrower fails to effect such insurance as herein called for or to pay the premiums thereforsatisfy its obligations under this Article VII, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor Lender shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee which premiums shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 be repayable to Lender upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1as Additional Charges. Each insurer mentioned in issuing policies pursuant to this Article 13 VII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to LessorLender, that it will give to Lessor Lender thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceledcancelled. Each such policy shall also provide that any loss otherwise payable thereunder shall be payable notwithstanding (i) any act or omission of Lender or Borrower which might, absent such provision, result in a forfeiture of all or a part of such insurance payment, (ii) the occupation or use of the Property for purposes more hazardous than those permitted by the provisions of such policy, (iii) any foreclosure or other action or proceeding taken by any Lender Assignee pursuant to any provision of a mortgage, note, assignment or other document evidencing or securing a loan upon the happening of an event of default therein or (iv) any change in title to or ownership of the Property.
Appears in 1 contract
Samples: Loan Agreement (Gta-Ib, LLC)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessor agrees that it will not unreasonably withhold, condition or delay its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty ten (3010) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee which premiums shall reimburse be repayable to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, therefor and Lessee’s failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ written notice before the policy or policies in question shall be materially altered, allowed to expire or canceledcancelled.
Appears in 1 contract
Samples: Master Lease Document General Terms And (Universal Health Realty Income Trust)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor. Lessee shall pay all of the premiums therefor, relating to insurance coverage required per Section 13.1 and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in annually thereafter. In the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefortherefore, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefortherefore, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages coverage required of Lessee under this Article 13 Section upon written demand therefortherefore, and Lessee’s 's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ at least 60 days written notice before the coverage under such policy or policies in question shall be materially alteredreduced, allowed to expire or canceledcancelled.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred ---------------------- to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by ------------ insurance companies satisfactory to LessorLessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Subject to the right to reimbursement or credit specified in Section XIII, Lessee shall pay all of the premiums therefor, and deliver such ------------ policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or binding certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section (other than the premiums required to be paid or reimbursed to Lessee by Lessor in accordance with Section 13.1(b)) upon written demand therefor, and --------------- Lessee’s 's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1------- 16.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement ------- ------------ to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor. Lessee shall pay or cause to be paid all of the premiums therefor, relating to insurance coverage required per Section 13.1 and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in annually thereafter. In the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefortherefore, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefortherefore, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages coverage required of Lessee under this Article 13 Section upon written demand therefortherefore, and Lessee’s failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(c). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ at least 30 days written notice before the coverage under such policy or policies in question shall be materially alteredreduced, allowed to expire or canceledcancelled.
Appears in 1 contract
Samples: Lease Agreement (Eagle Hospitality Properties Trust, Inc.)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section 13.1 upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) days after Notice notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ days written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to LessorLessor (and, as applicable, any Property Mortgagee). Subject to the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Property Mortgagee, if required by the same) thirty (30) days’ ' written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to LessorLessor (and, as applicable, any Facility Mortgagee). Subject to the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and which premiums shall be repayable by Lessee shall reimburse to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days’ ' written notice before the policy or policies in question questions shall be materially altered, allowed to expire or canceled.. -20- 13.6
Appears in 1 contract
Samples: Lease (Alterra Healthcare Corp)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to ----------------------- in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Subject to the right to reimbursement or credit specified in Section 13.1, Lessee shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or binding certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section (other than the premiums required to be paid or reimbursed to Lessee by Lessor in accordance with Section 13.1(b)) upon written demand therefor, and Lessee’s 's failure to repay the same within thirty (30) 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(d). Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to LessorLessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Lessee shall pay all of the premiums therefor, and deliver such to Lessor policies or certificates thereof to Lessor prior to of the insurance required under 13.01 above as of their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect obtain such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect obtain such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 Section upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.01(d). Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ ' written notice before Lessor, the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee Exhibit E shall be written in a form, form and with deductibles and by insurance companies satisfactory to LessorLessee. Lessee Operator shall pay all of the premiums therefor, as agent of Lessee relating to insurance coverages required to be obtained by Operator and deliver such policies or certificates thereof to Lessor and Lessee prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in annually thereafter. In the event of the failure of Lessee Operator either to effect such insurance as herein called for or to pay the premiums therefortherefore, or to deliver such policies or certificates thereof to Lessor and Lessee at the times required, Lessee or Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1premiums. Each insurer mentioned in this Article 13 Exhibit E shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ lessor at least 30 days written notice before the coverage under such policy or policies in question shall be materially alteredreduced, allowed to expire or canceled.cancelled. Increase in Limits. If either Lessor or Lessee at any time deems the limits and/or retentions of the coverages outlined in Exhibit E then carried to be either excessive or insufficient, Lessor and Lessee shall endeavor in good faith to agree in writing on the proper and reasonable limits for such insurance to be carried and such insurance shall thereafter be carried with the limits and/or retentions thus agreed on until further change pursuant to the provision of this Exhibit E.
Appears in 1 contract
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor. Lessee Subject to the right to reimbursement or credit specified in Section 13.1, Lessor shall pay all of the premiums therefor, and deliver such policies or certificates thereof to Lessor Lessee prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Lessee Lessor either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor Lessee at the times required, Lessor Lessee shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee Lessor shall reimburse Lessor Lessee for any premium or premiums paid by Lessor Lessee for the coverages required of Lessee under this Article 13 Sections 13.1(a) and 13.1(b) upon written demand therefor, and LesseeLessor’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor Lessee shall constitute an Event of Default within the meaning of Section 16.116.1(b). Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to LessorLessee, that it will give to Lessor thirty Lessee sixty (3060) days’ written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
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Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and of the Franchise Agreement. The Lessee shall pay all of the premiums therefor, and deliver copies of such policies or certificates thereof to the Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) 30 days prior to the expiration of the existing policy), and in the event of the failure of the Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to the Lessor at the times required, the Lessor shall be entitled, but shall have no obligation, after 10 days' Notice to Lessee (or after less than 10 days' Notice if required to prevent the expiration of any existing policy), to effect such insurance and pay the premiums therefor, and to be reimbursed by Lessee shall reimburse Lessor for any premium or such premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, the Lessor that it will give to Lessor thirty (30) 30 days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
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Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles form satisfactory to Lessor and any Facility Mortgagee and by insurance companies satisfactory to LessorLessor and any Facility Mortgagee. Lessee The property loss insurance policies shall contain a Replacement Cost Endorsement. Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessees. Lessees shall pay when due all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty not less than twenty (3020) days prior to the expiration of the existing policy, a new policy or binder shall be furnished to Lessor), and in the event of the failure of Lessee Lessees either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefortherefor when due, and Lessee which premiums shall reimburse be repayable to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefortherefor as Rent, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1.2. All public liability and property damage insurance shall contain a provision that Lessor, although named as an insured, shall nevertheless be entitled to recovery under said policies for any loss, damage, or injury to Lessor, its servants, agents, and employees by reason of the negligence of Lessees. Each insurer mentioned in this Article 13 XIII shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor (and to any Facility Mortgagee, 52 54 if required by the same) at least thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
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Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee ARTICLE XIII shall be written in a form, with deductibles and by insurance companies satisfactory to LessorLessor and shall satisfy the requirements of the Franchise Agreement. Lessee shall pay all of the premiums thereforrequired for any insurance required to be carried by Lessee hereunder, and shall deliver such policies or certificates thereof to Lessor prior to their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of by Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, after ten (10) days' Notice to Lessee, to effect such insurance and pay the premiums therefor, and Lessee shall reimburse Lessor to be reimbursed for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1therefore. Each insurer mentioned in this Article 13 ARTICLE XIII shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to LessorLessee, that it will give to Lessor thirty ten (3010) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.. ----------------------- Lease Agreement
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Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee XIII shall be written in a form, with deductibles and by insurance companies form reasonably satisfactory to LessorLessor and any Facility Mortgagee. The property loss insurance policy shall contain a Replacement Cost Endorsement. If Lessee obtains and maintains the professional malpractice insurance described in Section 13.1.5 above on a "claims-made" basis, Lessee shall provide continuous liability coverage for claims arising during the Term either by obtaining an endorsement providing for an extended reporting period reasonably acceptable to Lessor in the event such policy is canceled or not renewed for any reason whatsoever, or by obtaining "tail" insurance coverage converting the policies to "occurrence" basis policies providing coverage for a period of at least three (3) years beyond the expiration of the Term. Lessee shall (i) pay when due all of the premiums therefor, and deliver such policies or certificates thereof to Lessor prior to their effective date date, (and, ii) with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), Lessee shall furnish a new policy or binder to Lessor) and (iii) promptly thereafter, deliver the certificate or the new policy and in the event of the failure of Lessee either to effect such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefortherefor when due, and Lessee which premiums shall reimburse be repayable to Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 upon written demand therefortherefor as Rent, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1. Each insurer mentioned in this Article 13 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ written notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
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Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee 11 shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to LessorOperating Lessor and also shall meet and satisfy the requirements of any ground lessor, lender or franchisor having any interest in the Leased Premises. Operating Lessee shall pay all of the premiums therefor, and deliver such to Operating Lessor policies or certificates thereof to Lessor prior to of the insurance required under Section 11.1 above as of their effective date (and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of Operating Lessee either to effect obtain such insurance as herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Operating Lessor at the times required, Operating Lessor shall be entitled, but shall have no obligation, to effect obtain such insurance and pay the premiums therefor, and Operating Lessee shall reimburse Operating Lessor for any premium or premiums paid by Operating Lessor for the coverages required of Lessee under this Article 13 Section upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Operating Lessor shall constitute an Event of Default within the meaning of Section 16.114.1(b). Each insurer mentioned in this Article 13 11 shall agree, by endorsement to the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Operating Lessor thirty (30) days’ ' written notice before Operating Lessor, the policy or policies in question shall be materially altered, allowed to expire or canceled.
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Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee 15 shall be written in a form, with deductibles form reasonably satisfactory to Landlord and by insurance companies satisfactory to Lessorrated not less than B+, XII by A.M. Best's Insurance Guide. Lessee Tenant shall pay all premiums for the policies of the premiums therefor, insurance referred to in Sections 15.1 and 15.2 and shall deliver such policies or certificates thereof to Lessor Landlord prior to their effective date (and, and with respect to any renewal policy, thirty at least ten (3010) days prior to the expiration of the existing policy), and in . In the event of the failure of Lessee either Tenant fails to effect such insurance as herein called for or to pay the premiums thereforsatisfy its obligations under this Article 15, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor Landlord shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefortherefore, and Lessee which premiums shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required of Lessee under this Article 13 be repayable to Landlord upon written demand therefor, and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1as Additional Charges. Each insurer mentioned in issuing policies pursuant to this Article 13 15 shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to LessorLandlord, that it will give to Lessor Landlord thirty (30) days’ ' written notice before the policy or policies in question shall be materially altered, allowed to expire or canceledcancelled. Each such policy shall also provide that any loss otherwise payable thereunder shall be payable notwithstanding (i) any act or omission of Landlord or Tenant which might, absent such provision, result in a forfeiture of all or a part of such insurance payment, (ii) the occupation or use of the Property for purposes more hazardous than those permitted by the provisions of such policy, (iii) any foreclosure or other action or proceeding taken by any Facility Mortgagee pursuant to any provision of a mortgage, note, assignment or other document evidencing or securing a loan upon the happening of an event of default therein or (iv) any change in title to or ownership of the Property.
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Samples: Lease (Golf Trust of America Inc)
Form Satisfactory, Etc. (a) All of the policies of insurance referred to in this Article 13 to be maintained by Lessee Section shall be written in a form, with deductibles form satisfactory to Lessor and by insurance companies satisfactory to Lessor, Lessor agrees that it will not unreasonably withhold its approval as to the form of the policies of insurance or as to the insurance companies selected by Lessee. Lessee shall pay all of the premiums therefortherefore, and deliver such policies or certificates thereof to Lessor prior to their effective date (and, and with respect to any renewal policy, thirty at least ten (3010) days prior to the expiration of the existing policy), and in the event of the failure of Lessee either to effect such insurance as in the names herein called for or to pay the premiums therefor, or to deliver such policies or certificates thereof to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to effect such insurance and pay the premiums therefor, and Lessee which premiums shall reimburse be repayable to Lessor for any premium or premiums paid by Lessor for with interest at the coverages required of Lessee under this Article 13 Overdue Rate upon written demand therefor, therefor and Lessee’s failure to repay the same within thirty (30) days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.116.1(d). Each insurer mentioned in this Article 13 Section shall agree, by endorsement to on the policy or policies issued by it, or by independent instrument furnished to Lessor, that it will give to Lessor thirty (30) days’ , written notice before the policy or policies in question shall be materially altered, allowed to expire or canceledcancelled.
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