Common use of Changes in Insurance Coverage Clause in Contracts

Changes in Insurance Coverage. Lender acknowledges that certain coverage amounts described above may not be commercially reasonable or available to attain or maintain. Lender reserves the right in its sole discretion to approve lesser amounts of coverage or approve modifications to the required types of insurance. Notwithstanding the foregoing, if the Lender determines in its reasonable discretion based on its experience with the long term care industry, generally, that insurance coverage in excess of the amounts currently maintained by the Borrowers or on an “occurrence” basis or any other modification to the insurance requirements are necessary and are available for the Borrowers at premiums not materially in excess of the premiums then being paid by Borrowers, then Borrowers shall be obligated to procure coverage as determined by Lender.