Common use of Adjustment of Limits Clause in Contracts

Adjustment of Limits. All of the limits of insurance required pursuant to this Article 7 shall be subject to review by Owner and, in connection therewith, Tenant shall carry or cause to be carried such additional amounts as Owner may reasonably require from time to time, but Owner may not impose such new limits any more frequently than once in every three (3) year period from the CO Date (including but not limited to deductibles, limits, coverages and endorsements). Tenant agrees that Owner may, if it so elects, at Owner’s expense, have the Premises appraised for purposes of requiring Tenant to obtain the proper amount of insurance hereunder. Any request by Owner that Tenant carry or cause to be carried additional amounts of insurance shall not be deemed reasonable unless such additional amounts are commonly carried in the case of similar projects in South Florida of a size, nature and character similar to the size, nature and character of the Project; provided, however, that the provisions of this subsection (b) shall not relieve Tenant of its obligation to carry or to cause to be carried All Risk insurance in an amount not less than the Replacement Value as provided in Section 7.12(a). Tenant shall be responsible for all deductibles.