Common use of Periodic Review of Coverage Clause in Contracts

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. 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 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 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. The Authority Fair Board and StadCo Bristol 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 Bristol pursuant to this Article 5 Section 13 has become commercially unreasonable or such coverage is otherwise not commercially available, then StadCo Bristol 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 limits, and deductibles that meet the Insurance Standard. In the event that StadCo Bristol 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 Bristol shall have the burden of proof with respect to the fact that such coverage is commercially unreasonable, and that the coverages, limits limits, and deductibles that StadCo Bristol proposes to maintain meet the Insurance Standard. In the event that StadCo Bristol 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 Fair Board no less than thirty (30) days prior to such time as StadCo Bristol proposes to modify such coverages, limits or deductibles and the Authority Fair Board shall have the right to Approve such proposed modifications.

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 . All coverages, limits, and deductibles obtained pursuant to this Article 5 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, If 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 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 is or 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 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.