Common use of Additional Provisions Respecting Insurance Clause in Contracts

Additional Provisions Respecting Insurance. All insurance required by Section 5.03 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Borrower and authorized to write such insurance in the State and satisfactory to the Holder. The Borrower or companies issuing the policies required by Sections 5.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Borrower is engaged. All policies evidencing such insurance shall name the Borrower as insured and the Holder as mortgagee and loss payee under a lender's loss payable endorsement, as their interests may appear, and provide for at least thirty (30) days' written notice to the Borrower and the Holder prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof. The insurance required by Sections 5.03(A) and 5.03(D) hereof shall be fully paid for and shall contain a standard noncontributory mortgagee endorsement in favor of the Holder as mortgagee and loss payee. All insurance required hereunder shall be in form, content and coverage satisfactory to the Holder. Certificates satisfactory in form and substance to the Holder to evidence all insurance required hereby shall be delivered to the Holder on or before the Closing Date. The Borrower shall deliver to the Holder on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding December 1 reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 5.03 and 5.04 hereof. At least thirty (30) days prior to the expiration of any such policy, the Borrower shall furnish to the Holder evidence that the policy has been renewed or replaced or is no longer required hereby.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 5.03 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Borrower Company and authorized to write such insurance in the State and satisfactory and having a Best rating satisfactory to the Holder. The Borrower or companies issuing Issuer and the policies required by Sections 5.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating GuideTrustee. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Borrower Company is engaged. All policies evidencing such insurance shall name the Borrower as insured Company and the Holder Issuer as mortgagee insureds and the Trustee and the Bank, as security holders and loss payee under a lender's loss payable endorsementpayees, as their interests may appear, and provide for at least thirty (30) days' written notice to the Borrower Company, the Issuer, the Trustee and the Holder Bank prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof. The insurance required by Sections 5.03(A) and 5.03(DSection 6.3(A) hereof shall be fully paid for and shall contain a standard noncontributory mortgagee endorsement and a lender's loss payable clause endorsement in favor of the Holder Trustee and the Bank, as mortgagee security holders and loss payeepayees, as their interests may appear. All insurance required hereunder shall be in form, content and coverage satisfactory to the HolderIssuer and the Bank. Certificates satisfactory in form and substance to the Holder Issuer and the Bank to evidence all insurance required hereby shall be delivered to the Holder Issuer, the Trustee and the Bank on or before the Closing Date. The Borrower Company shall deliver to the Holder Issuer and the Trustee on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding December November 1 reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 5.03 6.3 and 5.04 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Borrower Company shall furnish to the Holder Issuer, the Trustee and the Bank evidence that the policy has been renewed or replaced or is no longer required herebyby this Installment Sale Agreement.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 5.03 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Borrower Company and authorized to write such insurance in the State and satisfactory to the HolderIssuer and the Bank. The Borrower company or companies issuing the policies required by Sections 5.03(A6.3(A) and 6.3(F) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Borrower Company is engaged. All policies evidencing such insurance shall name the Borrower as insured Company and the Holder Issuer as insureds, policies evidencing insurance as required by Section 6.3(A) shall name the Bank as mortgagee and loss payee under a lender's loss payable endorsementpayee, as their interests its interest may appear, and provide for at least thirty (30) days' written notice to the Borrower Company, the Issuer and the Holder Bank prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof. The insurance required by Sections 5.03(A) and 5.03(D) hereof shall be fully paid for thereof and shall contain a standard noncontributory mortgagee endorsement in favor of the Holder Bank as mortgagee and loss payee, as its interest may appear. All insurance required hereunder shall be in form, content and coverage satisfactory to the HolderIssuer and the Bank. Certificates Binders satisfactory in form and substance to the Holder Issuer and the Bank to evidence all insurance required hereby shall be delivered to the Holder Issuer and the Bank on or before the Closing Date. The Borrower Company shall deliver to the Holder Issuer and the Bank on or before the first Business Day of each calendar year thereafter a certificate binder dated not earlier than the immediately preceding December 1 November 15th reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 5.03 6.3 and 5.04 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Borrower Company shall furnish to the Holder Issuer and the Bank evidence that the policy has been renewed or replaced or is no longer required herebyby the Installment Sale Agreement.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 5.03 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Borrower Real Estate Owner and authorized to write such insurance in the State and satisfactory and having a Best rating satisfactory to the Holder. The Borrower or companies issuing the policies required by Sections 5.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating GuideAgency. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Borrower Real Estate Owner is engaged. All policies evidencing such insurance shall name the Borrower Real Estate Owner as insured and the Holder Agency as mortgagee and loss payee under a lender's loss payable endorsementadditional insured, as their interests may appear, and provide for at least thirty (30) days' ’ written notice to the Borrower Real Estate Owner and the Holder Agency prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof. The policy evidencing the insurance required by Sections 5.03(A) and 5.03(DSection 6.3(c) hereof shall be fully paid for name the Agency as an additional insured on a primary and noncontributory basis with any coverage held by the Agency, if any. All policies evidencing the insurance required by Section 6.3(d)(ii), (iii) and (iv) shall contain name the Agency and the Real Estate Owner as additional insureds on a standard primary and noncontributory mortgagee endorsement in favor of basis with any coverage held by the Holder as mortgagee and loss payeeAgency, if any. All insurance required hereunder shall be in form, content and coverage satisfactory to the HolderAgency. Certificates and policies satisfactory in form and substance to the Holder Agency to evidence all insurance required hereby shall be delivered to the Holder Agency on or before the Closing Date. The Borrower Real Estate Owner shall deliver to the Holder Agency on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding December 1 month reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 5.03 6.3 and 5.04 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Borrower Real Estate Owner shall furnish to the Holder Agency evidence that the policy has been renewed or replaced replaced, or is no longer required herebyby this Lease Agreement.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 5.03 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Borrower Company and authorized to write such insurance in the State and satisfactory and having a Best rating satisfactory to the Holder. The Borrower or companies issuing the policies required by Sections 5.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating GuideAgency. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Borrower Company is engaged. All policies evidencing such insurance shall name the Borrower Company as insured and the Holder Agency as mortgagee and loss payee under a lender's loss payable endorsementadditional insured, as their interests may appear, and provide for at least thirty (30) days' ’ written notice to the Borrower Company and the Holder Agency prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof. The policy evidencing the insurance required by Sections 5.03(A) and 5.03(DSection 6.3(c) hereof shall be fully paid for name the Agency as an additional insured on a primary and noncontributory basis with any coverage held by the Agency, if any. All policies evidencing the insurance required by Section 6.3(d)(ii), (iii) and (iv) shall contain name the Agency and the Company as additional insureds on a standard primary and noncontributory mortgagee endorsement in favor of basis with any coverage held by the Holder as mortgagee and loss payeeAgency, if any. All insurance required hereunder shall be in form, content and coverage satisfactory to the HolderAgency. Certificates and policies satisfactory in form and substance to the Holder Agency to evidence all insurance required hereby shall be delivered to the Holder Agency on or before the Closing Date. The Borrower Company shall deliver to the Holder Agency on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding December 1 month reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 5.03 6.3 and 5.04 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Borrower Company shall furnish to the Holder Agency evidence that the policy has been renewed or replaced replaced, or is no longer required herebyby this Lease Agreement.

Additional Provisions Respecting Insurance. All insurance required by Section 5.03 4.03 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Borrower Corporate Guarantor and authorized to write such insurance in the State and satisfactory to the Holder. The Borrower Corporate Guarantor or companies issuing the policies required by Sections 5.03(A4.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Borrower Corporate Guarantor is engaged. All policies evidencing such the insurance required by Section 4.03 (A) hereof shall name the Borrower Corporate Guarantor as insured and the Holder as mortgagee and loss payee under a lender's loss payable endorsement, as their interests may appear, and all policies evidencing the insurance required by Section 4.03 hereof shall provide for at least thirty (30) days' written notice to the Borrower Corporate Guarantor and the Holder prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof. The insurance required by Sections 5.03(A4.03(A) and 5.03(D4.03(D) hereof shall be fully paid for and shall contain a standard noncontributory non-contributory mortgagee endorsement in favor of the Holder as mortgagee and loss payee. All insurance required hereunder shall be in form, form and content and coverage reasonably satisfactory to the Holder. Certificates satisfactory in form and substance to the Holder to evidence all insurance required hereby shall be delivered to the Holder on or before the Closing Date. The Borrower Corporate Guarantor shall deliver to the Holder on or before the first Business Day of each calendar year thereafter a certificate dated not earlier than the immediately preceding December 1 l reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 5.03 4.03 and 5.04 4.04 hereof. At least thirty (30) days prior Prior to the expiration of any such policy, the Borrower Corporate Guarantor shall furnish to the Holder evidence that the policy has been renewed or replaced or is no longer required hereby.

Additional Provisions Respecting Insurance. All insurance required by Section 5.03 4.14. hereof shall be procured and maintained in financially sound and generally recognized responsible with insurance companies selected by the Borrower entity required to procure the same and authorized to write such insurance in the State and satisfactory acceptable to the Holder. The Borrower or companies issuing the policies required by Sections 5.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating GuideBank. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Borrower College is engaged. All policies evidencing such insurance coverages required by subsections (b) and (c) of Section 4.14 hereof shall name the Borrower as insured Issuer, the College and the Holder Bank as mortgagee and loss payee under a lender's loss payable endorsement, as their interests may appear, and provide for at least thirty (30) days' written notice to the Borrower and the Holder prior to cancellation, lapse, reduction in policy limits or material change in coverage thereofinsureds. The All policies evidencing insurance coverages required by Sections 5.03(ASection 4.14(a) and 5.03(D4.14(d) hereof shall be fully paid for and shall contain a standard noncontributory mortgagee endorsement in favor of name the Holder College as mortgagee and loss payeeinsured. All insurance required hereunder shall be in form, content and coverage reasonably satisfactory to the HolderIssuer and the Bank and shall not contain any coinsurance provisions nor blanket coverage with existing policies. Certificates satisfactory in form and substance to the Holder to evidence The original policy, or a certificate evidencing insurance, of all insurance required hereby shall be delivered to the Holder Issuer and the Bank on or before the Closing Date. The Borrower College shall deliver to the Holder Issuer and the Bank, on or before the first Business Day in December of each calendar year thereafter a certificate dated not earlier than the immediately preceding December 1 November 1st, reciting that there is in full force and effect, with a term covering at least the next succeeding calendar yeartwelve (12) months, insurance in the amounts and of the types required by Sections 5.03 4.14 and 5.04 4.15 hereof. At least thirty (30) days prior to the expiration of any such policy, the Borrower College shall furnish to the Holder Issuer and the Bank, evidence that the policy has been renewed or replaced or is no longer required herebyby this Bond Purchase Agreement. THE PARTIES HERETO ACKNOWLEDGE THAT THE ISSUER DOES NOT IN ANY WAY REPRESENT THAT THE INSURANCE SPECIFIED HEREIN, WHETHER IN SCOPE OF COVERAGE OR LIMITS OF COVERAGE, IS ADEQUATE OR SUFFICIENT FOR THE PURPOSES CONTEMPLATED HEREUNDER OR TO PROTECT THE OPERATION OF THE FACILITY OR THE BUSINESS, OPERATIONS OR FINANCIAL CONDITION OF THE COLLEGE.