Common use of Agent’s Right to Procure Insurance Clause in Contracts

Agent’s Right to Procure Insurance. Notwithstanding anything to the contrary contained herein, if at any time Agent is not in receipt of written evidence that all insurance required hereunder is maintained in full force and effect, Agent shall have the right (but not the obligation), upon written notice to Borrower, to take such action as Agent deems necessary to protect its interests in the Premises, including the obtaining of such insurance coverages as are required hereunder, and all expenses incurred by Agent in connection with such action or in obtaining such insurance and keeping it in effect shall be paid by Borrower promptly after demand and shall be secured by the Loan Documents.

Agent’s Right to Procure Insurance. Notwithstanding anything to the contrary contained herein, if at any time Agent is not in receipt of written evidence reasonably confirming that all insurance required hereunder is maintained in full force and effect, then after giving written notice to Loan Parties, Agent shall have the right (but not the obligation), upon written notice ) to Borrower, to take obtain such action as Agent deems necessary to protect its interests in the Premises, including the obtaining of such undocumented insurance coverages as are required hereunder, and all out-of-pocket expenses incurred by Agent in connection with such action or in obtaining such insurance and keeping it in effect shall be paid by Borrower Loan Parties promptly after demand and shall be secured by the Loan Documents.

Agent’s Right to Procure Insurance. Notwithstanding anything to the contrary contained herein, if at any time Agent is not in receipt of written evidence that all insurance required hereunder is maintained in full force and effect, Agent shall have the right (but not the obligation), upon written notice to Borrower, ) to take such action as Agent deems necessary to protect its interests in the PremisesBorrowing Base Properties, including the obtaining of such insurance coverages as are required hereunder, and all expenses incurred by Agent in connection with such action or in obtaining such insurance and keeping it in effect shall be paid by Borrower Borrowers promptly after demand and shall be secured by the Loan Financing Documents.

Agent’s Right to Procure Insurance. Notwithstanding anything to the contrary contained herein, if at any time Agent is not in receipt of written evidence that all insurance required hereunder is maintained in full force and effect, Agent shall have the right (but not the obligation), upon written notice to Borrower, ) to take such action as Agent deems necessary to protect its interests in the Premises, including the obtaining of such insurance coverages as are required hereunder, and all expenses incurred by Agent in connection with such action or in obtaining such insurance and keeping it in effect shall be paid by Borrower and Operating Lessee promptly after demand and shall be secured by the Loan Documents.