Increases in Coverage Clause Samples
The "Increases in Coverage" clause establishes the conditions under which the amount of insurance or protection provided under an agreement may be raised. Typically, this clause outlines the process for requesting additional coverage, such as requiring written notice or approval from the insurer or the other party, and may specify limits or circumstances under which increases are permitted. Its core practical function is to provide a clear mechanism for adjusting coverage levels to meet changing needs or risks, ensuring that parties can respond to evolving circumstances without renegotiating the entire agreement.
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Increases in Coverage. If required of all similarly situated tenants in the Building, Tenant shall increase its insurance coverage as required if in the reasonable opinion of the mortgagee on the Building, Landlord or Landlord’s insurance agent such insurance coverage at that time is not adequate and such increase shall be in amounts as are customary in other similar buildings in the State or District in which the Building is located.
Increases in Coverage. Landlord may from time to time, but not more frequently than once in any 3 year period, require that the amount of the Commercial General Liability insurance to be maintained by Tenant under Section 12.03 be increased to amounts then customarily required of tenants by landlords of comparable properties. If Tenant shall claim that Landlord’s requirement is excessive, the dispute shall be determined by expedited arbitration as provided in Article 21. Tenant shall, thereafter, carry the insurance determined by such arbitration to be required, but in no event shall the amount of such commercial general liability insurance be less than the amount specified in Section 12.03.
Increases in Coverage. The policy limits of any policy of insurance required hereunder shall be increased from time to time to reflect what a reasonable prudent owner of land and improvements similar in type and locality to each Mortgaged Property would carry.
Increases in Coverage. Tenant shall increase its insurance coverage as required if in the reasonable opinion of the mortgagee on the Building, Landlord or Landlord's insurance agent such insurance coverage at that time is not adequate.
Increases in Coverage. At the request of Owner, Design/Builder shall increase the above insurance limits or obtain additional coverage at Owner’s expense.
Increases in Coverage. The City may, from time to time, require ▇▇▇▇▇▇▇ to obtain (at ▇▇▇▇▇▇▇’▇ expense) increases in both the types and amounts of coverage provided by the insurances required to be maintained by ▇▇▇▇▇▇▇ hereunder, upon City’s determination that such increases are reasonably necessary to maintain the level of protection provided to City hereunder as of the Effective Date.
Increases in Coverage. Landlord may from time to time require that the amount of the commercial general liability insurance to be maintained by Tenant under Section 12.03 be increased to amounts then customarily required of tenants by landlords of comparable properties, provided that (i) any increase in such amount(s) shall be consistent with amounts of insurance that other tenants are then being required to maintain by prudent owners of other first class office buildings comparable to the Building in Manhattan and (ii) Landlord shall not require any such increases in amount(s) of coverage prior to the third (3rd) anniversary of the Commencement Date (and thereafter, shall not require any such increases more frequently than one time per each thirty-six (36) month period during the Term). If Tenant shall claim that Landlord’s requirement is excessive, the dispute shall be determined by arbitration as provided in Article 21. Tenant shall, thereafter, carry the insurance determined by such arbitration to be required, but in no event shall the amount of such commercial general liability insurance be less than the amount specified in Section 12.03.
Increases in Coverage. At the request of MPO, Consultant shall increase the above insurance limits or obtain additional coverage at MPO’s expense.
Increases in Coverage. Landlord shall have the right, from time to time as Landlord shall determine, but not more often than once annually, to increase the policy limits for all insurance which Tenant is required to obtain under this Article XIII, to such amount as Landlord determines is comparable to the policy limit requirements of other properties of comparable size, location and character as the Property, or as is otherwise required by the holder or beneficiary of any first deed of trust or first mortgage interest in the Property.
Increases in Coverage. Increases in coverage after issue will not require underwriting, provided the following conditions are met:
1. Increase must be based on the original guaranteed issue coverage formula (e.g., a multiple of salary).
2. Increases must be mandatory for all eligible employees. The corporation cannot choose which employees will receive increases. If an increase is not taken in a given year, no future increases will be allowed for that employee without evidence of insurability.
3. Increases must be no more than 20% of the face amount up to a maximum life-time limit of two times the face amount.