Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor 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, 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 for any such premiums upon written demand therefor. 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 the Lessor that it will give to Lessor 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and of the Franchise AgreementLessor. The Lessee shall pay all of the premiums therefor, relating to insurance coverage required per Section 13.1 and deliver copies of such policies or certificates thereof to the Lessor prior to their effective date (and, with respect to any renewal policy, 30 days prior to the expiration of the existing policy), and in annually thereafter. In the event of the failure of the 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 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 therefortherefore, and to be reimbursed by Lessee shall reimburse Lessor for any such premium or premiums paid by Lessor for the coverage required under this Section upon written demand therefortherefore, and Lessee’s failure to repay the same within 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 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 the Lessor that it will give to Lessor 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the 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 and shall satisfy agrees that it will not unreasonably withhold its approval as to the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 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 which premiums shall be reimbursed repayable by Lessee for any such premiums to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Paragraph 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 the Lessor Lessor, that it will give to Lessor 30 days' (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 canceledcancel.
Appears in 5 contracts
Samples: Lease Agreement (LTC Healthcare Inc), Lease (Sterling House Corp), Lease (LTC Healthcare Inc)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee ARTICLE XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor and shall satisfy (and, as applicable, any Facility Mortgagee). Subject to the requirements of any ground leaseforegoing, mortgage, security agreement Lessor agrees that it will not unreasonably withhold or other financing lien on delay its approval as to the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 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 which premiums shall be reimbursed repayable by Lessee for any such premiums 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. 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 the Lessor Lessor, that it will give to Lessor 30 (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: Lease Agreement (Brookdale Senior Living Inc.), Lease Agreement (Brookdale Senior Living Inc.), Master Lease Agreement (Brookdale Senior Living Inc.)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor and shall satisfy (and, as applicable, any Facility Mortgagee). Subject to the requirements of any ground leaseforegoing, mortgage, security agreement Lessor agrees that it will not unreasonably withhold or other financing lien on delay its approval as to the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 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 which premiums shall be reimbursed repayable by Lessee for any such premiums 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. 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 the Lessor Lessor, that it will give to Lessor 30 (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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the 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 and shall satisfy agrees that it will not unreasonably withhold its approval as to the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 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 which premiums shall be reimbursed repayable by Lessee for any such premiums to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Paragraph 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 the Lessor Lessor, that it will give to Lessor 30 days' (and to any Building 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 canceledcancel.
Appears in 3 contracts
Samples: Lease (New York Bagel Enterprises Inc), Lease Agreement (New York Bagel Enterprises Inc), Lease Agreement (New York Bagel Enterprises Inc)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and of the Franchise AgreementLessor. 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, 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 such premium or premiums paid by Lessor for the coverages required under Section 13.1 upon written demand therefor, and Lessee's failure to repay the same within 30 days after notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 16.1(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 the Lessor Lessor, that it will give to Lessor 30 days' 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor and Lessee and shall satisfy the requirements of any ground lease, mortgageMortgage, security agreement or other financing lien on the Leased Property and of the Franchise Agreement. The Lessee party responsible for obtaining any policy shall pay all of the premiums therefor, and deliver copies of such policies or certificates thereof to the Lessor other party prior to their effective date (and, with respect to any renewal policy, 30 10 days prior to the expiration of the existing policy), and in the event of the failure of the Lessee responsible party 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 other party at the times required, the Lessor such other party 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)responsible party, to effect such insurance and pay the premiums therefor, and to be reimbursed by Lessee for any such premiums upon written demand therefor. 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 the Lessor party not responsible hereunder for obtaining such policy, that it will give to Lessor 30 such party 10 days' written notice Notice before the policy or policies in question shall be materially altered, allowed to expire or canceled.
Appears in 3 contracts
Samples: Merger Agreement (Capstar Hotel Co), Purchase and Sale Agreement (Prime Hospitality Corp), Merger Agreement (American General Hospitality Corp)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor 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, if any. The Lessee shall pay or cause the payment of all of the premiums thereforrequired for any insurance required to be carried by Lessee hereunder, and shall deliver copies of such policies or certificates thereof to the Lessor prior to their effective date (and, with respect to any renewal policy, 30 thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of the 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 the Lessor at the times required, the Lessor shall be entitled, but shall have no obligation, after 10 ten (10) days' ’ Notice to Lessee (or after less than 10 days' Notice if required to prevent the expiration of any existing policy)Lessee, to effect such insurance and pay the premiums therefor, and to be reimbursed by Lessee for any such premium or premiums upon written demand therefortherefore. 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 the Lessor Lessee, that it will give to Lessor 30 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 (MHI Hospitality CORP), Lease Agreement (MHI Hospitality CORP)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles form satisfactory to Lessor and Lessee and by insurance companies satisfactory to Lessor and shall satisfy Lessee. Each party agrees that it will not unreasonably withhold its approval as to the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected. The Lessee shall pay all of the All premiums therefor, shall be paid and deliver copies of such policies or certificates binders delivered and followed with duplicate policies as issued thereof to the Lessor other party prior to their effective date (and, with respect to any renewal policy, 30 thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of the Lessee party required to provide such insurance 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 other party 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 which premiums shall be reimbursed by Lessee for any such premiums repayable upon written demand therefor. 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 the Lessor instrument, that it will give to Lessor 30 thirty (30) days' written notice before the policy or policies in question shall be materially altered, allowed to expire not renewed or canceledcancelled.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Realty Refund Trust), Percentage Lease Agreement (Boykin Lodging Trust Inc)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor Lessor. Lessee shall be permitted to acquire insurance through insurance companies which are Affiliates of Lessee and shall which otherwise satisfy the requirements of any ground leasethis Article XIII, mortgage, security agreement or other financing lien on provided that the Leased Property and terms of such insurance shall be no more favorable to such Affiliates than would the Franchise Agreementsame insurance if purchased from an independent third party. 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, 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 thereforthereon, and to be reimbursed by Lessee shall reimburse Lessor for any such premium or premiums paid by Lessor for the coverages required under this 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 16.1(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 the Lessor Lessor, that it will give to Lessor 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 Amendment (Equity Inns Inc), Lease Agreement (Equity Inns Inc)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the 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 the foregoing, Lessor and shall satisfy agrees that it will not unreasonably withhold its approval as to the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 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 which premiums shall be reimbursed repayable by Lessee for any such premiums to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Paragraph 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 the Lessor Lessor, that it will give to Lessor 30 days' (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 canceledcancel.
Appears in 2 contracts
Samples: Lease (Tesseract Group Inc), Lease (Tesseract Group Inc)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor and shall satisfy (and, as applicable, any Facility Mortgagee). Subject to the requirements of any ground leaseforegoing, mortgage, security agreement Lessor agrees that it will not unreasonably withhold or other financing lien on delay its approval as to the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 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 which premiums shall be reimbursed repayable by Lessee for any such premiums 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. 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 the Lessor Lessor, that it will give to Lessor 30 (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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor and also shall meet and satisfy the requirements of any ground leaselessor, mortgage, security agreement lender or other financing lien on franchisor having any interest in the Leased Property and of Premises. Subject to the Franchise Agreement. The right to reimbursement or credit specified in Section XIII, 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, 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 binding 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 Lessee shall reimburse Lessor for any premium or premiums paid by Lessor for the coverages required under this Section (other than the premiums required to be paid or reimbursed to Lessee by Lessee for any such premiums Lessor in accordance with Section 13.1(b)) upon written demand therefor, and Lessee's failure to repay the same within 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 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 the Lessor Lessor, that it will give to Lessor 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor. Subject to the right to reimbursement or credit specified in Section 13.1, Lessor 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 Lessee prior to their effective date (and, with respect to any renewal policy, 30 days prior to the expiration of the existing policy), and in the event of the failure of the 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 the Lessor Lessee at the times required, the Lessor Lessee 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 Lessor shall reimburse Lessee for any premium or premiums paid by Lessee for any such premiums the coverages required under Sections 13.1(a) and 13.1(b) upon written demand therefor, and Lessor's failure to repay the same within 30 days after Notice of such failure from Lessee shall constitute an Event of Default within the meaning of Section 16.1(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 the Lessor Lessee, that it will give to Lessor 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. All of the policies of insurance referred ---------------------- to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by ------------ insurance companies satisfactory to Lessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien lien, if any, on the Leased Property and of the Franchise Management Agreement. The Lessee party responsible for obtaining any policy shall pay all of the premiums therefor, and deliver copies of such policies or certificates thereof to the Lessor other party prior to their effective date (and, with respect to any renewal policy, 30 thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of the Lessee responsible party 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 other party at the times required, the Lessor such other party shall be entitled, but shall have no obligation, after 10 ten (10) 41 days' Notice to Lessee the responsible party (or after less than 10 ten (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 for any such premiums upon written demand therefor. 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 the Lessor party not responsible hereunder for obtaining such policy, that it will give to Lessor 30 such party 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
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee ARTICLE XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor 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; (provided, however, Lessee shall not be required to obtain insurance to satisfy such requirements except to the extent such insurance is reasonably obtainable, and Lessor shall pay the costs of any insurance required thereby which exceeds that required pursuant to (iv) through (xi) above). The Lessee party responsible for obtaining any policy shall pay all of the premiums therefor, and deliver copies of such policies or certificates thereof to the Lessor other party prior to their effective date (and, with respect to any renewal policy, 30 thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of the Lessee responsible party 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 other party at the times required, the Lessor such other party shall be entitled, but shall have no obligation, after 10 ten (10) days' Notice to Lessee the responsible party (or after less than 10 ten (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 for any such premiums upon written demand therefor. 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 the Lessor party not responsible hereunder for obtaining such policy, that it will give to Lessor 30 such party 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
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor. Subject to the right to reimbursement or credit specified in Section 13.1, Lessor 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 Lessee prior to their effective date (and, with respect to any renewal policy, 30 thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of the 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 the Lessor Lessee at the times required, the Lessor Lessee 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 Lessor shall reimburse Lessee for any premium or premiums paid by Lessee for any such premiums the coverages required under Sections 13.1(a) and 13.1(b) upon written demand therefor, and Lessor’s failure to repay the same within thirty (30) days after Notice of such failure from Lessee shall constitute an Event of Default within the meaning of Section 16.1(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 the Lessor Lessee, that it will give to Lessor 30 Lessee sixty (60) 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and of the Franchise AgreementLessor. 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, 30 thirty (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 such premium or premiums paid by Lessor for the coverages required under Section 13.1 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(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 the Lessor Lessor, that it will give to Lessor 30 days' 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee Section shall be written in a form, with deductibles form satisfactory to Lessor and by insurance companies satisfactory to Lessor, Lessor and shall satisfy agrees that it will not unreasonably withhold its approval as to the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. The Lessee shall pay all of the premiums therefortherefore, and deliver copies of such policies or certificates thereof to the Lessor prior to their effective date (and, and with respect to any renewal policy, 30 at least ten (10) 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 in the names 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 which premiums shall be repayable to be reimbursed by Lessee for any such premiums Lessor with interest at the Overdue Rate upon written demand therefortherefor and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(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 the Lessor Lessor, that it will give to Lessor 30 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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Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor 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, 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 for any such premiums upon written demand therefor. 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 the Lessor that it will give to Lessor 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles and by insurance companies satisfactory to Lessor and Lessee and shall satisfy the requirements of any ground leaseGround Lease, mortgageMortgage, security agreement or other financing lien on the Leased Property and of the Franchise Agreement. The Lessee party responsible for obtaining any policy shall pay all of the premiums therefor, and deliver copies of such policies or certificates thereof to the Lessor other party prior to their effective date (and, with respect to any renewal policy, 30 not less than ten (10) days prior to the expiration of the existing policy), and in the event of the failure of the Lessee responsible party 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 other party at the times required, the Lessor such other party shall be entitled, but shall have no obligation, after 10 not less than five (5) days' Notice to Lessee (or after less than 10 days' Notice if required to prevent the expiration of any existing policy)responsible party, to effect such insurance and pay the premiums therefor, and to be reimbursed by Lessee for any such premiums upon written demand therefor. 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 the Lessor party not responsible hereunder for obtaining such policy, that it will give to Lessor 30 such party not less than ten (10) days' prior 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. All of the policies of insurance ---------------------- referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles ------------ and by insurance companies satisfactory to Lessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien lien, if any, on the Leased Property and of the Franchise Management Agreement. The Lessee party responsible for obtaining any policy shall pay all of the premiums therefor, and deliver copies of such policies or certificates thereof to the Lessor other party prior to their effective date (and, with respect to any renewal policy, 30 thirty (30) days prior to the expiration of the existing policy), and in the event of the failure of the Lessee responsible party 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 other party at the times required, the Lessor such other party shall be entitled, but shall have no obligation, after 10 ten (10) days' Notice to Lessee the responsible party (or after less than 10 ten (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 for any such premiums upon written demand therefor. 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 the Lessor party not responsible hereunder for obtaining such policy, that it will give to Lessor 30 such party 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. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee shall be written in a form, with deductibles and by insurance companies reasonably satisfactory to Lessor and shall satisfy the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and of the Franchise AgreementLessor. 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, 30 thirty (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 thereforthereon, and to be reimbursed by Lessee shall reimburse Lessor for any such premium or premiums paid by Lessor for the coverages required under this 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 16.1(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 the Lessor Lessor, that it will give to Lessor 30 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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Samples: Lease Agreement (Equity Inns Inc)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee ARTICLE XIII shall be written in a form, with deductibles form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor and shall satisfy (and, as applicable, any Facility Mortgagee). Subject to the requirements of any ground leaseforegoing, mortgage, security agreement Lessor agrees that it will not unreasonably withhold or other financing lien on delay its approval as to the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 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 for any such which premiums upon written demand thereforshall be
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 the Lessor Lessor, that it will give to Lessor 30 (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.
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Samples: Master Lease Agreement (Assisted Living Concepts Inc)
Form Satisfactory, Etc. All of the policies of insurance referred to in this Article 13 that are the responsibility of the Lessee XIII shall be written in a form, with deductibles form satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessor and shall satisfy agrees that it will not unreasonably withhold, condition or delay its approval as to the requirements of any ground lease, mortgage, security agreement or other financing lien on the Leased Property and form of the Franchise Agreementpolicies of insurance or as to the insurance companies selected by Lessee. 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, 30 ten (10) 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 which premiums shall be repayable to be reimbursed by Lessee for any such premiums Lessor upon written demand therefortherefor and failure to repay the same within 30 days after Notice of such failure from Lessor shall constitute an Event of Default within the meaning of Section 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 the Lessor Lessor, that it will give to Lessor 30 (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.
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Samples: Master Lease Agreement (Universal Health Realty Income Trust)