Periodic Review of Coverage. The Authority and StadCo shall jointly review applicable coverages every three (3) years, and shall mutually agree upon appropriate coverages, limits and deductibles, and all such coverages, limits, and deductibles shall be at commercially reasonable levels and meet the Insurance Standard. If the Parties cannot agree on such coverage, the amount of such coverage shall be increased every three (3) years to reflect the CPI Increase over such period. If, because of disruptive events affecting the insurance market, the premium cost for one or more levels of coverage required to be maintained by StadCo pursuant to this Article 5 has become commercially unreasonable or such coverage is otherwise not commercially available, then StadCo shall be permitted to maintain similar coverages, limits, and deductibles as may be available at commercially reasonable costs, but in all events, shall maintain coverages, limits and deductibles that meet the Insurance Standard. In the event that StadCo asserts that the premium cost for one or more levels of coverage has become commercially unreasonable or otherwise not commercially available as contemplated in the preceding sentence, then StadCo shall have the burden of proof with respect to the fact that such coverage is commercially unreasonable, and that the coverages, limits and deductibles that StadCo proposes to maintain meet the Insurance Standard. In the event that StadCo asserts that it should be permitted to modify its coverages, limits or deductibles as contemplated in the preceding two sentences, then it shall provide notice to the Authority no less than thirty (30) days prior to such time as StadCo proposes to modify such coverages, limits or deductibles and the Authority shall have the right to Approve such proposed modifications.
Periodic Review of Coverage. In order to maintain the same levels and scope of coverage that will exist as of the Commencement Date, the amounts and types of coverage called for herein shall be subject to review by Licensor at the end of each five (5) year period following the Commencement Date and shall be increased or extended as appropriate to maintain comparable amounts and types of coverage, including adjustments to reflect inflation in property values and awards for personal injury or wrongful death.
