Common use of Borrower to Make up Deficiency in Insurance Coverage Clause in Contracts

Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it shall not carry insurance required by Section 6.3 hereof, it shall pay promptly to the Trustee for application in accordance with the provisions of Section 6.8 hereof, such amount as would have been received as Net Proceeds by the Trustee under the provisions of Section 6.8 hereof had such insurance been carried to the extent required.

Appears in 3 contracts

Samples: Loan Agreement (Lunn Industries Inc /De/), Loan Agreement (Heico Corp), Loan Agreement (Medical Action Industries Inc)

AutoNDA by SimpleDocs

Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it shall not carry insurance required by Section SECTION 6.3 hereof, it shall pay promptly to the Trustee for application in accordance with the provisions of Section SECTION 6.8 hereof, such amount as would have been received as Net Proceeds by the Trustee under the provisions of Section SECTION 6.8 hereof had such insurance been carried to the extent required.

Appears in 1 contract

Samples: Loan Agreement (Genlyte Group Inc)

AutoNDA by SimpleDocs

Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it shall not carry insurance required by Section Sections 6.3 and 6.4 hereof, it shall pay promptly to the Trustee for application in accordance with the provisions of Section 6.8 6.9 hereof, such amount as would have been received as Net Proceeds by the Trustee under the provisions of Section 6.8 6.9 hereof had such insurance been carried to the extent required.

Appears in 1 contract

Samples: Loan Agreement (Elxsi Corp /De//)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!