Common use of Additional Policy Requirements Clause in Contracts

Additional Policy Requirements. All insurance policies required to be procured under this License shall be effected under valid policies issued by insurers which have an Xxxxxx X. Best Company, Inc. rating of “A-“ or better and a financial size category of not less than “X” (or if Xxxxxx X. Best Company, Inc. no longer uses such a rating system, then the equivalent or most similar rating under the rating system then in effect, or if Xxxxxx X. Best Company, Inc. is no longer the most widely accepted rater of the financial stability of insurance companies providing coverage such as that required by this License, then the equivalent or most similar rating under the rating system then in effect of the most widely accepted rater of the financial stability of such insurance companies at the time). Each and every policy required to be carried hereunder shall provide for waivers of subrogation by endorsement or other means which waiver of subrogation shall be effective as to any Party, provided however, that the Licensee Worker’s Compensation Policy shall only have to comply when this subsection (b) is available. Each and every insurance policy required to be carried hereunder by or on behalf of any party shall provide (and any certificate evidencing the existence of each such insurance policy shall certify) that such insurance policy shall not be cancelled, non-renewed or coverage there under materially reduced unless the other Parties shall have received written notice of cancellation, non-renewal or material reduction in coverage, in each such case (except for notice of cancellation due to non-payment of premiums) such written notice to be sent to the other parties not less than ninety (90) days (or the maximum period of days permitted under applicable law, if less than ninety (90) days prior to the effective date of such cancellation, non-renewal or material reduction in coverage, as applicable. In the event any insurance policy is to be canceled due to non-payment of premiums, the requirements of the preceding sentence shall apply except that the written notice shall be sent to the other parties on the earliest possible date but in no event less than ten (10) days prior to the effective date of each cancellation.

Additional Policy Requirements. All (a) The "all risk" property insurance policies required to be procured obtained by Lessee under this License SECTION 9 shall be effected under valid policies primary and not be concurrent in form or contributing with any other coverage which Lessee or Lessor may carry. Such insurance shall be issued by insurers insurance companies legally qualified to issue such insurance in the jurisdiction in which have an Xxxxxx X. Best Companyeach Property is located and of recognized reputability rated A-XI or better (or the then equivalent of such rating) by Best's Insurance Reports (or any successor publication of comparable standing), BBB or better by Standard & Poor's Rating Group and Ba3 by Moodx'x Xxxestors Service, Inc. rating of “A-“ or better and a financial size category of not less than “X” (or if Xxxxxx X. Best Company, Inc. no longer uses such a rating system, then the equivalent or most similar rating under the rating system then in effect, or if Xxxxxx X. Best Company, Inc. is no longer the most widely accepted rater of the financial stability Such insurance shall be provided pursuant to forms of insurance companies providing coverage policies reasonably satisfactory to Lessor. Neither the issuance of any insurance policy required under this Lease, nor the minimum limits specified herein with respect to Lessee's insurance coverage, shall be deemed to limit or restrict in any way Lessee's liability arising under this Lease. The dollar amounts set forth in SECTION 9.1(D) shall be increased from time to time during the term upon request by Lessor to the extent such as that increase is consistent with commercial general liability insurance then customarily required by this Licenselandlords of Comparable Buildings. With respect to the insurance required by SECTIONS 9.1(A) and (D) that is provided by means of an insurance policy covering each Property and other properties owned or occupied by Lessee on or before the date upon which such insurance is required, then Lessee shall deliver to Lessor (i) an original certificate evidencing such insurance, (ii) an original endorsement to such policy naming Lessor as loss payee or additional insured, as the equivalent or most similar rating under the rating system then in effect case may be, and (iii) a summary of the most widely accepted rater of the financial stability those provisions of such policy applicable to each Property certified by the issuer. With respect to each other insurance companies at the time). Each and every policy required to be carried hereunder obtained by Lessee under this SECTION 9, on or before the date on which such insurance coverage is required by SECTION 9.1, Lessee shall deliver to Lessor satisfactory evidence of such insurance. Prior to the expiration of any required policy Lessee shall provide for waivers to Lessor satisfactory evidence of subrogation by endorsement renewal or other means which waiver replacement of subrogation shall be effective as to any Party, provided however, that the Licensee Worker’s Compensation Policy shall only have to comply when this subsection (b) is availablesuch insurance policy. Each and every insurance policy required to be carried hereunder by or on behalf of any party Lessee shall (A) provide (and any certificate evidencing the existence of each such insurance policy shall certify) (i) that such insurance policy shall not be cancelled, non-renewed cancelled or coverage there under materially reduced modified unless the other Parties Lessor shall have received thirty (30) days' prior written notice of cancellationsuch cancellation or modification, non-renewal (ii) that any loss payable thereunder shall be payable notwithstanding any act, omission or material reduction negligence of Lessee which might, absent such agreement, result in coverage, in each such case (except for notice a forfeiture of cancellation due to non-payment of premiums) such written notice to be sent to the other parties not less than ninety (90) days (all or the maximum period of days permitted under applicable law, if less than ninety (90) days prior to the effective date any portion of such cancellationinsurance payment, non-renewal (iii) that the interests of the Lessor, Agent and the Holders from time to time of the Notes shall be insured regardless of any breach or violation by the Lessee of any representations, warranties, conditions or declarations contained in such policy and (B) contain such deductibles and retentions as shall be commercially available and reasonably acceptable to Agent. (b) If Lessee shall fail to pay any or all of the premiums due under any of the foregoing policies or to deliver evidence of such policies as required by this SECTION, Lessor, at its option, may (but shall not be obligated to) procure, deliver and deposit the same or pay the premiums therefor, and the amounts paid by Lessor shall constitute Additional Rent hereunder and shall be repaid to Lessor by Lessee promptly, but in any case within ten (10) Business Days, after rendition of a bill xxxrefor by Lessor. No such payment by Lessor shall be deemed a waiver of any default by Lessee hereunder nor shall it affect any other right or remedy of Lessor by reason of such default. (c) Lessee shall not violate or permit any occupant of any Property, or any part thereof, to violate any of the material reduction in coverageconditions or provisions of any such policy, as applicable. In the event any insurance policy is to be canceled due to non-payment of premiums, and Lessee shall perform and satisfy the requirements of the preceding sentence insurers writing such policies. (d) Upon written request by Lessor, Lessee shall apply except that furnish proof, reasonably satisfactory to Lessor, of the written notice payment (whether in full or by periodic payment) of the premiums for all insurance policies at any time required to be effected and maintained under this Lease. (e) The insurance required to be provided by Lessee pursuant to this SECTION 9 shall be sent primary and non-contributory as evidenced by the certificates of insurance required to be delivered by Lessee pursuant to this SECTION 9. (f) No approval by Lessor of any insurer shall be construed to be a representation, certification or warranty of its solvency and no approval by Lessor as to the amount, type or form of any insurance shall be construed to be a representation, certification or warranty of its sufficiency. (g) Lessee shall cause each insurer to include in each of Lessee's insurance policies insuring against loss, damage or destruction of property by fire or other parties on insured casualty (each a "CASUALTY POLICY") and in the earliest possible date but in no event less than ten insurance policy required by SECTION 9.1(D) a waiver of the insurer's right of subrogation against Lessor, Agent, the Noteholders and their respective employees, representatives, agents and contractors and against any additional insureds, or, if such waiver shall be unobtainable (10i) days prior to an express agreement that such policy shall not be invalidated if Lessee waives or has waived before the effective date casualty the right of each cancellationrecovery against any party responsible for a covered casualty or (ii) any other form of permission for the release of such responsible party.

Additional Policy Requirements. All (a) The "all risk" property insurance policies required to be procured obtained by Lessee under this License SECTION 9 shall be effected under valid policies primary and not be concurrent in form or contributing with any other coverage which Lessee or Lessor may carry. Such insurance shall be issued by insurers insurance companies legally qualified to issue such insurance in the jurisdiction in which have an Xxxxxx X. Best Companythe Freezer Property is located and of recognized reputability rated A- XI or better (or the then equivalent of such rating) by Best's Insurance Reports (or any successor publication of comparable standing), BBB or better by Standard & Poor's Rating Group and Ba3 by Moodx'x Xxxestors Service, Inc. rating of “A-“ or better and a financial size category of not less than “X” (or if Xxxxxx X. Best Company, Inc. no longer uses such a rating system, then the equivalent or most similar rating under the rating system then in effect, or if Xxxxxx X. Best Company, Inc. is no longer the most widely accepted rater of the financial stability Such insurance shall be provided pursuant to forms of insurance companies providing coverage policies reasonably satisfactory to Lessor. Neither the issuance of any insurance policy required under this Lease, nor the minimum limits specified herein with respect to Lessee's insurance coverage, shall be deemed to limit or restrict in any way Lessee's liability arising under this Lease. The dollar amounts set forth in SECTION 9.1(D) shall be increased from time to time during the term upon request by Lessor to the extent such as that increase is consistent with commercial general liability insurance then customarily required by this Licenselandlords of Comparable Buildings. With respect to the insurance required by SECTIONS 9.1(A) and (D) that is provided by means of an insurance policy covering the Freezer Property and other properties owned or occupied by Lessee on or before the date upon which such insurance is required, then Lessee shall deliver to Lessor (i) an original certificate evidencing such insurance, (ii) an original endorsement to such policy naming Lessor as loss payee or additional insured, as the equivalent or most similar rating under the rating system then in effect case may be, and (iii) a summary of the most widely accepted rater of the financial stability those provisions of such policy applicable to the Freezer Property certified by the issuer. With respect to each other insurance companies at the time). Each and every policy required to be carried hereunder obtained by Lessee under this SECTION 9, on or before the date on which such insurance coverage is required by SECTION 9.1, Lessee shall deliver to Lessor satisfactory evidence of such insurance. Prior to the expiration of any required policy Lessee shall provide for waivers to Lessor satisfactory evidence of subrogation by endorsement renewal or other means which waiver replacement of subrogation shall be effective as to any Party, provided however, that the Licensee Worker’s Compensation Policy shall only have to comply when this subsection (b) is availablesuch insurance policy. Each and every insurance policy required to be carried hereunder by or on behalf of any party Lessee shall (A) provide (and any certificate evidencing the existence of each such insurance policy shall certify) (i) that such insurance policy shall not be cancelled, non-renewed cancelled or coverage there under materially reduced modified unless the other Parties Lessor shall have received thirty (30) days' prior written notice of cancellationsuch cancellation or modification, non-renewal (ii) that any loss payable thereunder shall be payable notwithstanding any act, omission or material reduction negligence of Lessee which might, absent such agreement, result in coverage, in each such case (except for notice a forfeiture of cancellation due to non-payment of premiums) such written notice to be sent to the other parties not less than ninety (90) days (all or the maximum period of days permitted under applicable law, if less than ninety (90) days prior to the effective date any portion of such cancellationinsurance payment, non-renewal or material reduction in coverage, as applicable. In the event any insurance policy is to be canceled due to non-payment of premiums, the requirements of the preceding sentence shall apply except (iii) that the written notice shall be sent to the other parties on the earliest possible date but in no event less than ten (10) days prior to the effective date interests of each cancellation.the

Additional Policy Requirements. All Any policies of insurance carried in accordance with this Insurance Addendum and any policies required to be procured under this License taken out in substitution or replacement of any such policies (i) shall be effected under valid policies issued by insurers which have an Xxxxxx X. Best Company, Inc. rating of “A-“ or better and a financial size category of not less than “X” (or if Xxxxxx X. Best Company, Inc. no longer uses such a rating system, then endorsed to name Lessor as the equivalent or most similar rating under the rating system then in effect, or if Xxxxxx X. Best Company, Inc. is no longer the most widely accepted rater owner of the financial stability of Aircraft and as additional insured as its interests may appear (but without responsibility for premiums), (ii) with respect to insurance companies providing coverage such carried in accordance with Paragraphs (b) or (c), as applicable, shall provide that required by this Licenseany amount payable thereunder shall be paid to Lessor and Lessee as joint loss payees, then the equivalent or most similar rating under the rating system then in effect of the most widely accepted rater of the financial stability of such insurance companies at the time). Each and every policy required to be carried hereunder (iii) shall provide for waivers thirty (30) days written notice by such insurer of subrogation by endorsement cancellation, material change, or other means which waiver of subrogation shall be effective as to any Partynon-renewal; provided, provided however, that the Licensee Worker’s Compensation Policy shall as to only have to comply when this subsection (b) is available. Each and every insurance policy required to be carried hereunder by or on behalf any nonpayment of any party premium, shall provide (and any certificate evidencing the existence of each such insurance policy shall certify) that such insurance policy shall not be cancelled, non-renewed or coverage there under materially reduced unless the other Parties shall have received written notice of cancellation, non-renewal or material reduction in coverage, in each such case (except for notice of cancellation due to non-payment of premiums) such written notice to be sent to the other parties not less than ninety (90) days (or the maximum period of days permitted under applicable law, if less than ninety (90) days prior to the effective date of such cancellation, non-renewal or material reduction in coverage, as applicable. In the event any insurance policy is to be canceled due to non-payment of premiums, the requirements of the preceding sentence shall apply except that the written notice shall be sent to the other parties on the earliest possible date but in no event less than ten (10) days prior written notice by such insurer of cancellation with regard to any such nonpayment of premium, (iv) include a severability of interest clause providing that such policy shall operate in the same manner as if there were a separate policy covering each insured, (v) waive any right of set-off against Lessee or Lessor, and any rights of subrogation against Lessor, (vi) shall provide that in respect of the interests of Lessor in such policies, the insurance shall not be invalidated by any action or inaction of Lessee or any other Person operating or in possession of the Aircraft regardless of any breach or violation of any warranties, declarations or conditions contained in such policies by or binding upon Lessee or any other Person operating or in possession of the Aircraft, and (vii) shall be primary, not subject to any co-insurance clause and shall be without right of contribution from any other insurance. Notwithstanding clause (ii) of the preceding sentence, so long as no Default has occurred and is continuing, and no Event of Default or Event of Loss with respect to the effective date Aircraft has occurred, the amounts referred to in clause (ii) may be paid, as applicable, either (A) if $100,000.00, or more, in the aggregate, to Lessor and Lessee, jointly, as their interests may appear, and released by Lessor to Lessee or other appropriate Persons in payment of each cancellation.the costs actually incurred with respect to repairs made to the Aircraft so as to restore it to the operating condition required by the Return Addendum or any other applicable provision of the Lease, or shall be disbursed by Lessor as otherwise required by the Lease, or (B) if less than $100,000.00 in the aggregate, to Lessee (and such amounts shall be applied by Lessee to pay the costs of such repairs). 31 <PAGE>