Increase in Limits. In the event that Lessor shall at any time in its reasonable discretion deem the limits of the personal injury, property damage or general public liability insurance then carried to be insufficient, the parties shall endeavor 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 13.5. If the parties shall be unable to agree thereon, the proper and reasonable limits for such insurance to be carried shall be determined by an impartial third party selected by the parties.
Appears in 5 contracts
Samples: Master Lease Agreement (MPT Operating Partnership, L.P.), Master Lease Agreement (MPT Operating Partnership, L.P.), Master Lease Agreement (MPT Operating Partnership, L.P.)
Increase in Limits. In the event that Lessor shall at any time in its reasonable discretion deem the limits of the personal injury, property damage or general public liability insurance then carried to be insufficientinsufficient based on insurance limits generally in effect with respect to similar properties, the parties shall endeavor 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 13.5. If the parties shall be unable to agree thereon, the proper and reasonable limits for such insurance to be carried shall be determined by an impartial third party selected by the parties. Nothing herein shall permit the amount of insurance to be reduced below the amount or amounts required by any of the Facility Instruments.
Appears in 3 contracts
Samples: Master Lease Agreement (Adeptus Health Inc.), Master Funding and Development Agreement (Adeptus Health Inc.), Master Funding and Development Agreement (Adeptus Health Inc.)
Increase in Limits. In the event that Lessor Lender shall at any time in its reasonable discretion deem the limits of the personal injury, property damage or general public liability insurance then carried to be insufficient, the parties shall endeavor 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 13.59.5. If the parties shall be unable to agree thereon, the proper and reasonable limits for such insurance to be carried shall be determined by an impartial third party selected by the parties.
Appears in 1 contract
Samples: Real Estate Loan Agreement (MPT Operating Partnership, L.P.)