Common use of Buildings Insurance Clause in Contracts

Buildings Insurance. 5.1 Each Property is insured under: (a) a buildings insurance policy arranged by the Borrower in accordance with the relevant Mortgage Conditions or in accordance with the Alternative Insurance Recommendations; or (b) the Halifax Policies; or (c) a Seller-introduced building insurance policy; or (d) a buildings insurance policy arranged by the relevant landlord; or (e) the Properties in Possession Cover. 5.2 No act, event or circumstance has occurred which would adversely affect the Properties in Possession Cover or entitle the insurers to refuse to make payment thereunder or to reduce the amount payable in respect of any claim thereunder. 5.3 All claims under the Properties in Possession Cover have been paid in full within a reasonable time of the date of submission of the claim and, save in respect of minor claims, there are no claims outstanding. 5.4 The Seller has maintained and will maintain all consents, authorisations, approvals, licences and orders, including without limitation all authorisations under the FSMA, to carry on any insurance related activities in respect of the Properties.

Buildings Insurance. 5.1 Each Property is insured under: (a) a buildings insurance policy arranged by the Borrower in accordance with the relevant Mortgage Conditions or in accordance with the Alternative Insurance Recommendations; or (b) the Halifax Policies; or (c) a Seller-introduced building insurance policy; or (d) a buildings insurance policy arranged by the relevant landlord; or (e) the Properties in Possession Cover. 5.2 No act, event or circumstance has occurred which would adversely affect the Properties in Possession Cover or entitle the insurers to refuse to make payment thereunder or to reduce the amount payable in respect of any claim thereunder. 5.3 All claims under the Properties in Possession Cover have been paid in full within a reasonable time of the date of submission of the claim and, save in respect of minor claims, there are no claims outstanding. 5.4 The Seller has maintained and will maintain all consents, authorisations, approvals, licences licenses and orders, including without limitation all authorisations under the FSMAFMSA, to carry on any insurance related activities in respect of the Properties.