Common use of All Policies Clause in Contracts

All Policies. (i) shall be maintained throughout the term of the Loan without cost to Lender and shall name each Borrower (and may name affiliates of each Borrower) as the named insured; (ii) with respect to property insurance policies, shall contain a standard noncontributory mortgagee clause naming Lender and its successors and assigns as their interests may appear as first mortgagee and loss payee; (iii) with respect to liability policies, except for workers compensation, employers liability and auto liability, shall name Lender and its successors and assigns as their interests may appear as additional insureds; (iv) with respect to property insurance policies, shall either be written on a no coinsurance form or contain an endorsement providing that neither Borrower nor Lender nor any other party shall be a co-insurer under such Policies; (v) with respect to property insurance policies, shall contain an endorsement or other provision providing that Lender shall receive 10 days’ prior written notice of cancellation thereof due to non-payment of premium; (vi) with respect to property insurance policies, shall contain an endorsement providing that no act or negligence of Borrower or any foreclosure or other proceeding or notice of sale relating to one or more of the Properties shall affect the validity or enforceability of the insurance insofar as a mortgagee is concerned; (vii) shall not contain provisions that would make Lender liable for any insurance premiums thereon or subject to any assessments thereunder; (viii) shall contain a waiver of subrogation against Lender, as applicable; (ix) may be in the form of a blanket or umbrella policy; and (x) shall otherwise be reasonably satisfactory in form and substance to Lender and shall contain such other provisions as Lender deems reasonably necessary or desirable to protect its interests; provided, that nothing in this clause (x) shall require Borrower to obtain types of coverage that it does not typically carry, or coverage in an amount greater than it typically carries, each case in the ordinary course of its business.

All Policies. (i) shall be maintained throughout the term of the Loan without cost to Lender and shall name each Borrower (and may name affiliates of each Borrower) as the named insured; (ii) with respect to property insurance policies, shall contain a standard noncontributory mortgagee clause naming Lender and its successors and assigns as their interests may appear as first mortgagee and loss payee; (iii) with respect to liability policies, except for workers compensation, employers liability and auto liability, shall name Lender and its successors and assigns as their interests may appear as additional insureds; (iv) with respect to property insurance policies, shall either be written on a no coinsurance form or contain an endorsement providing that neither Borrower nor Lender nor any other party shall be a co-insurer co‑insurer under such Policies; (v) with respect to property insurance policies, shall contain an endorsement or other provision providing that Lender shall receive 10 days’ prior written notice of cancellation thereof due to non-payment of premium; (vi) with respect to property insurance policies, shall contain an endorsement providing that no act or negligence of Borrower or any foreclosure or other proceeding or notice of sale relating to one or more of the Properties shall affect the validity or enforceability of the insurance insofar as a mortgagee is concerned; (vii) shall not contain provisions that would make Lender liable for any insurance premiums thereon or subject to any assessments thereunder; (viii) shall contain a waiver of subrogation against Lender, as applicable; (ix) may be in the form of a blanket or umbrella policy; and (x) shall otherwise be reasonably satisfactory in form and substance to Lender and shall contain such other provisions as Lender deems reasonably necessary or desirable to protect its interests; provided, that nothing in this clause (x) shall require Borrower to obtain types of coverage that it does not typically carry, or coverage in an amount greater than it typically carries, each case in the ordinary course of its business.

All Policies. (i) shall be maintained throughout the term of the Loan without cost to Lender and shall name each Borrower (and may name affiliates of each Borrower) as the named insured; (ii) with respect to property insurance policies, shall contain a standard noncontributory mortgagee clause naming Lender and its successors and assigns as their interests may appear as first mortgagee and loss payee; (iii) with respect to liability policies, except for workers compensation, employers liability and auto liability, shall name Lender and its successors and assigns as their interests may appear as additional insureds; (iv) with respect to property insurance policies, shall either be written on a no coinsurance form or contain an endorsement providing that neither Borrower nor Lender nor any other party shall be a co-insurer under such Policies; (v) with respect to property insurance policies, shall contain an endorsement or other provision providing that Lender shall receive 10 days’ prior written notice of cancellation thereof due to non-payment of premium; (vi) with respect to property insurance policies, shall contain an endorsement providing that no act or negligence of Borrower or any foreclosure or other proceeding or notice of sale relating to one or more of the Properties shall affect the validity or enforceability of the insurance insofar as a mortgagee is concerned; (vii) shall not contain provisions that would make Lender liable for any insurance premiums thereon or subject to any assessments thereunder; (viii) shall contain a waiver of subrogation against Lender, as applicable; (ix) may be in the form of a blanket or umbrella policy; and (x) shall otherwise be reasonably satisfactory in form and substance to Lender and shall contain such other provisions as Lender deems reasonably necessary or desirable to protect its interests; provided, that nothing in this clause (x) shall require Borrower to obtain types of coverage that it does not typically carry, or coverage in an amount greater than it typically carries, each case in the ordinary course of its business.