Common use of Form Satisfactory, Etc Clause in Contracts

Form Satisfactory, Etc. All of the policies of insurance referred to in this Article XIII shall be written in a form reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor (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, 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, which premiums shall be repayable by Lessee 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 XIII shall agree, by endorsement 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 questions shall be altered, allowed to expire or canceled. -20- 13.6

Appears in 1 contract

Samples: Lease (Alterra Healthcare Corp)

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Form Satisfactory, Etc. All of the policies of insurance referred to in this Article XIII shall be written in a form reasonably form, with deductibles satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor (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 LesseeLessor. 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, 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, which and Lessee shall reimburse Lessor for any premium or premiums shall be repayable paid by Lessee to 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 16.116.1(c). Each insurer mentioned in this Article XIII shall agree, by endorsement on to 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' at least 60 days written notice before the coverage under such policy or policies in questions question shall be alteredmaterially reduced, allowed to expire or canceled. -20- 13.6cancelled.

Appears in 1 contract

Samples: Master Lease Agreement (Winston Hotels Inc)

Form Satisfactory, Etc. All of the policies of insurance referred to in this Article ARTICLE XIII shall be written in a form reasonably form, with deductibles and by insurance companies satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor (and, as applicable, any Facility Mortgagee). Subject to shall satisfy the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form requirements of the policies of insurance or as to the insurance companies selected by LesseeFranchise 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, which and to be reimbursed for any premium or premiums shall be repayable by Lessee to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1therefore. Each insurer mentioned in this Article ARTICLE XIII shall agree, by endorsement on to the policy or policies issued by it, or by independent instrument furnished to LessorLessee, that it will give to Lessor ten (and to any Facility Mortgagee, if required by the same) thirty (3010) days' written notice before the policy or policies in questions question shall be materially altered, allowed to expire or canceled. -20- 13.6----------------------- Lease Agreement

Appears in 1 contract

Samples: Credit Agreement (Ashford Hospitality Trust Inc)

Form Satisfactory, Etc. All of the policies of insurance referred to in this Article ARTICLE XIII shall be written in a form reasonably form, with deductibles and by insurance companies satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor (and, as applicable, any Facility Mortgagee). Subject to shall satisfy the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form requirements of the policies of insurance or as to the insurance companies selected by LesseeFranchise 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, which and to be reimbursed for any premium or premiums shall be repayable by Lessee to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1therefore. Each insurer mentioned in this Article ARTICLE XIII shall agree, by endorsement on to the policy or policies issued by it, or by independent instrument furnished to LessorLessee, that it will give to Lessor (and to any Facility Mortgagee, if required by the same) thirty (30) days' [TEXAS: TEN (10) DAYS'] written notice before the policy or policies in questions question shall be materially altered, allowed to expire or canceled. -20- 13.6.

Appears in 1 contract

Samples: Lease Agreement (Ashford Hospitality Trust Inc)

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Form Satisfactory, Etc. All of the policies of insurance referred to in this Article XIII shall be written in a form form, with deductibles reasonably satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor (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 LesseeLessor. 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, 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, which and Lessee shall reimburse Lessor for any premium or premiums shall be repayable paid by Lessee to 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 16.116.1(c). Each insurer mentioned in this Article XIII shall agree, by endorsement on to 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' at least 60 days written notice before the coverage under such policy or policies in questions question shall be alteredmaterially reduced, allowed to expire or canceled. -20- 13.6cancelled.

Appears in 1 contract

Samples: Lease Agreement (Highland Hospitality Corp)

Form Satisfactory, Etc. All of the policies of insurance referred to in this Article XIII ARTICLE 13 shall be written in a form reasonably form, with deductibles and by insurance companies satisfactory to Lessor and by insurance companies reasonably satisfactory to Lessor (and, as applicable, any Facility Mortgagee). Subject to shall satisfy the foregoing, Lessor agrees that it will not unreasonably withhold or delay its approval as to the form requirements of the policies of insurance or as to the insurance companies selected by LesseeFranchise 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, which and to be reimbursed for any premium or premiums shall be repayable by Lessee to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1therefore. Each insurer mentioned in this Article XIII ARTICLE 13 shall agree, by endorsement on to the policy or policies issued by it, or by independent instrument furnished to LessorLessee, 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 questions question shall be materially altered, allowed to expire or canceled. -20- 13.6.

Appears in 1 contract

Samples: Lease Agreement (Capital Lodging)

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