Contesting of Insurance. The Mortgagor shall not ----------------------- take any action that would reasonably be expected to cause the termination, revocation or denial of any insurance coverage required to be maintained under this Mortgage or that would be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises and the Mortgagor shall otherwise comply in all respects with all Insurance Requirements in respect of the Premises; provided, however, that the Mortgagor may, at its own expense and -------- ------- after written notice to the Mortgagee, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under Article VIII hereof or ------------ (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of Article VIII hereof. ------------
Appears in 3 contracts
Samples: Taxes and Certain Statutory (Raceland Truck Plaza & Casino LLC), Security Agreement (Raceland Truck Plaza & Casino LLC), Security Agreement (Raceland Truck Plaza & Casino LLC)
Contesting of Insurance. The Mortgagor shall not ----------------------- take any ----------------------- action that would reasonably be expected to cause the termination, revocation or denial of any insurance coverage required to be maintained under this Mortgage or that would be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises and the Mortgagor shall otherwise comply in all respects with all Insurance Requirements in respect of the Premises; provided, however, that the Mortgagor may, at its own expense and after written -------- ------- after written notice to the Mortgagee, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under Article VIII hereof or ------------ (ii) cause the ------------ Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of Article VIII hereof. ------------
Appears in 2 contracts
Samples: Security Agreement (Raceland Truck Plaza & Casino LLC), Security Agreement (Raceland Truck Plaza & Casino LLC)
Contesting of Insurance. The Mortgagor shall not take ----------------------- take any action that would reasonably could be expected to cause the basis for termination, revocation or denial of any insurance coverage required to be maintained under this Mortgage or that would could be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises and the Mortgagor shall otherwise comply in all respects with all Insurance Requirements in respect of the Premises; provided, however, -------- ------- that the Mortgagor may, at its own expense and -------- ------- after written notice to the Mortgagee, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under Article VIII hereof or ------------ (ii) cause the Insurance Policy containing ------------ any such Insurance Requirement to be replaced by a new policy complying with the provisions of Article VIII hereof. ------------
Appears in 2 contracts
Samples: Security Agreement (Applied Power Inc), Security Agreement (Applied Power Inc)
Contesting of Insurance. The Mortgagor shall not ----------------------- take any action that would reasonably be expected to cause the termination, revocation or denial of any insurance coverage required to be maintained under this Mortgage or that would be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Leased Premises and the Mortgagor shall otherwise comply in all respects with all Insurance Requirements in respect of the Leased Premises; provided, however, that the Mortgagor may, at -------- ------- its own expense and -------- ------- after written notice to the Mortgagee, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under Article ------- VIII hereof or ------------ (ii) cause the Insurance Policy containing any such Insurance ---- Requirement to be replaced by a new policy complying with the provisions of Article VIII hereof. ------------
Appears in 1 contract
Samples: Security Agreement (Raceland Truck Plaza & Casino LLC)
Contesting of Insurance. The Mortgagor No Grantor shall not ----------------------- take any ----------------------- action that would reasonably be expected to cause the termination, revocation or denial of any insurance coverage required to be maintained under this Mortgage Deed of Trust or that would be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Owned Premises or Leased Premises and the Mortgagor such Grantor shall otherwise comply in all respects with all Insurance Requirements in respect of the Owned Premises and Leased Premises; provided, however, that the Mortgagor -------- ------- such Grantor may, at its own expense and -------- ------- after written notice to the MortgageeBeneficiary, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under Article VIII hereof or ------------ (ii) cause the Insurance Policy ------------ containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of Article VIII hereof. ------------
Appears in 1 contract
Samples: Security Agreement (Raceland Truck Plaza & Casino LLC)