Common use of Increase in Limits Clause in Contracts

Increase in Limits. If either Lessor or Lessee at any time deems the limits of the personal injury or property damage under the comprehensive public liability insurance then carried to be either excessive or insufficient, Lessor and Lessee shall endeavor in good faith to agree on the proper and reasonable limits for such insurance to be carried and such insurance shall thereafter be carried with the limits thus agreed on until further change pursuant to the provisions of this Section. If the parties fail to agree on such limits, the matter shall be referred to arbitration as provided for in Article XL. In no event, however, shall such limits fail to satisfy the requirements of the Franchise Agreement and of any ground lease or Mortgage.

Appears in 3 contracts

Samples: Lease Agreement (American General Hospitality Corp), Purchase and Sale Agreement (Prime Hospitality Corp), Lease Agreement (Capstar Hotel Co)

AutoNDA by SimpleDocs

Increase in Limits. If either Lessor or Lessee at any time ------------------ deems the limits of the personal injury or property damage under the comprehensive public liability insurance then carried to be either excessive or insufficient, Lessor and Lessee shall endeavor in good faith to agree on the proper and reasonable limits for such insurance to be carried and such insurance shall thereafter be carried with the limits thus agreed on until further change pursuant to the provisions of this Section. If the parties fail to agree on such limits, the matter shall be referred to arbitration as provided for in Article XL. In no event, however, shall such limits fail to satisfy the requirements of the Franchise Agreement and of any ground lease or Mortgage.

Appears in 1 contract

Samples: Lease Agreement (American General Hospitality Corp)

Increase in Limits. If either Lessor or Lessee at any time deems the limits of the personal injury or property damage under the comprehensive public liability insurance then carried to be either excessive or insufficient, Lessor and Lessee shall endeavor in good faith to agree on the proper and reasonable limits for such insurance to be carried and such insurance shall thereafter be carried with the limits thus agreed on until further change pursuant to the provisions of this Section. If the parties fail to agree on such limits, the matter shall be referred to arbitration as provided for in Article XLSection 40.2. In no event, however, shall such limits fail to satisfy the requirements of the Franchise Agreement and of any ground lease Ground Lease or Mortgage.

Appears in 1 contract

Samples: Stock Purchase Agreement (Keystone Inc Et Al)

AutoNDA by SimpleDocs

Increase in Limits. If either Lessor or Lessee at any time ------------------ deems the limits of the personal injury or property damage under the comprehensive public liability insurance then carried to be either excessive or insufficient, Lessor and Lessee shall endeavor in good faith to agree on the proper and reasonable limits for such insurance to be carried and such insurance shall thereafter be carried with the limits thus agreed on until further change pursuant to the provisions of this Section. If the parties fail to agree on such limits, the matter shall be referred to arbitration as provided for in Article XLSection 40.1. In However, in no event, however, event shall such limits fail to satisfy the ------------ requirements of the Franchise Management Agreement and of any ground lease lease, Mortgage, security agreement or Mortgageother financing lien, if any, affecting the Leased Property.

Appears in 1 contract

Samples: Lease Agreement (Boston Properties Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.