Comparable Insurance Coverage definition

Comparable Insurance Coverage carried or obtained for such other facilities. For purposes of the foregoing, “Comparable Insurance Coverage” shall mean insurance coverage levels adjusted for relevant variations in risk and insurability characteristics between the insured facilities being compared, including without limitation consideration of variations in insurance coverages carried by Guarantors and their Affiliates between different insurance markets (states or other jurisdictional subdivisions) where insured risks or insurance pricing or availability varies materially. Lessee shall use all reasonable efforts to obtain increased umbrella liability coverage of not less than $50,000,000 per occurrence/aggregate, and decreased liability insurance deductibles, at such time as the same can be obtained at commercially reasonable or economically feasible rates for the Leased Property. Until such increased coverages are obtained Lessee shall provide to Lessor a thorough annual update and review of the overall liability insurance coverage program and strategy for Lessee and Guarantors and their Affiliates, which shall include an analysis of market rates for the current and desired liability insurance coverages. In addition, Lessee shall have the right to provide commercial general liability and professional liability insurance coverage in a combined program, in which event such combined insurance may be provided on a “claims made” basis so long as the general liability insurance coverages otherwise required hereunder are maintained or continued in existence at all times throughout the Term for all periods that Lessee or its Affiliates have had any ownership or use of the Leased Property, and evidence thereof has been provided to Lessor. Notwithstanding the foregoing, however, any such claims made policy must include therein the right to purchase a “tail” that insures against so-called “incurred but not reported claims” for a period of not less than three (3) years following the expiration of such claims made policy. Upon the expiration of any such claims made policy, Lessee shall either (i) purchase a three (3) year “tail” policy covering any so-called “incurred but not reported claims” during the prior policy period or (ii) provide other insurance covering “incurred but not reported claims” for such prior policy period for a period of not less than three (3) years thereafter in form satisfactory to Lessor.

Comparable Insurance Coverage means insurance coverage levels adjusted for relevant variations in risk and insurability characteristics between the insured facilities being compared, including without limitation consideration of variations in insurance coverages carried by Guarantor and its Affiliated Persons between different insurance markets (states or other jurisdictional subdivisions) where insured risks or insurance pricing or availability varies materially. Tenant shall use all reasonable efforts to obtain increased umbrella liability coverage of not less than $50,000,000 per occurrence/aggregate, and decreased liability insurance deductibles, at such time as the same can be obtained at commercially reasonable or economically feasible rates for the Lease Property. Until such increased coverages are obtained the Tenant shall provide to Landlord a thorough annual update and review of the overall liability insurance coverage program and strategy for Tenant and Guarantor and their Affiliated Persons, which shall include an analysis of market rates for the current and desired liability insurance coverages.

Comparable Insurance Coverage means insurance coverage levels adjusted for relevant variations in risk and insurability characteristics between the insured facilities being compared, including without limitation consideration of variations in insurance coverages carried by Tenant or Manager between different insurance markets (states or other jurisdictional subdivisions) where insured risks or insurance pricing or availability varies materially. Notwithstanding the foregoing, commencing on the initial review and approval process for the proposed annual budget pursuant to Section 17.5 below, and each Fiscal Year thereafter during the Term, the insurance coverages set forth above shall be reviewed by the parties in consultation with each other. Any material change in such insurance coverages shall be subject to Landlord and Tenant’s prior written consent. If Landlord does not respond to a written notice from Tenant requesting Landlord’s consent to such a change within ten (10) Business Days of Landlord’s receipt of such request, such consent shall be deemed granted. If Landlord does not consent to such change, and if Tenant is unable, after using its reasonable commercial efforts, to obtain the coverages requested by Landlord for the amount provided for insurance coverage in the approved annual budget determined pursuant to Section 17.5 below, then Landlord shall either (a) agree to pay the additional cost of such insurance, which additional cost shall not be treated as a Property Expense or as Landlord’s Additional Investment, or (b) the requirement for such insurance coverage will be deemed waived.