Delivery of Policies, Payment of Premiums. All policies of insurance shall be issued by companies and in amounts in each company satisfactory to Beneficiary. All policies of insurance shall have attached thereto a lender’s loss payable endorsement for the benefit of Beneficiary in form satisfactory to Beneficiary. Trustor shall furnish Beneficiary with a certificate or an original copy of all policies of required insurance. If Beneficiary consents to Trustor providing any of the required insurance through blanket policies carried by Trustor and covering more than one location, then Trustor shall furnish Beneficiary with a certificate of insurance for each such policy setting forth the coverage, the limits of liability, the name of the carrier, the policy number, and the expiration date. At least thirty (30) days prior to the expiration of each such policy, Trustor shall furnish Beneficiary with evidence satisfactory to Beneficiary of the payment of premium and the re-issuance of a policy continuing insurance in force as required by this Deed of Trust. All such policies shall contain a provision that such policies will not be canceled or materially amended, which term shall include any reduction in the scope or limits of coverage, without at least fifteen (15) days’ prior written notice to Beneficiary. In the event Trustor fails to provide, maintain, keep in force or deliver and furnish to Beneficiary the policies of insurance required by this Section, Beneficiary may procure such insurance or single interest insurance for such risks covering Beneficiary’s interest, and Trustor will pay all premiums thereon promptly upon demand by Beneficiary, and until such payment is made by Trustor, the amount of all such premiums, together with interest thereon at the rate provided in the Note, shall be secured by this Deed of Trust. If requested by Beneficiary, after an event of default, Trustor shall deposit with Beneficiary in monthly installments, an amount equal to one-twelfth of the estimated aggregate annual insurance premiums on all policies of insurance required by this Deed of Trust. Trustor further agrees, upon Beneficiary’s request, to cause all bills, statements or other documents relating to the foregoing insurance premiums to be sent or mailed directly to Beneficiary. Upon receipt of such bills, statements or other documents, and providing Trustor has deposited sufficient funds with Beneficiary pursuant to this Section l.05, Beneficiary shall pay such amounts as may be due thereunder out of the fu...
Delivery of Policies, Payment of Premiums. (i) At the Lender’s option, all policies of Insurance shall either have attached thereto a lender’s loss payable endorsement for the benefit of Beneficiary in form satisfactory to the Lenders or shall name Beneficiary as an additional insured. At least (10) days prior to the expiration of each required policy, Trustor shall deliver to Beneficiary evidence reasonably satisfactory to the Lenders of the renewal or replacement (and, if payment is due at the same time, evidence of the payment of premium) of such policy continuing insurance in form as required by this Deed of Trust. At least (10) days prior to the date when any premium on each such required policy is due, Trustor shall deliver to the Lenders evidence reasonably satisfactory to Beneficiary of the payment of such premium. All such policies shall contain a provision that, notwithstanding any contrary agreement between Trustor and the insurance company, such policies will not be cancelled, allowed to lapse without renewal, surrendered or materially amended, which term shall include any reduction in the scope or limits of coverage, without at least ten (10) days prior written notice to, and (other than a termination for non-payment) the consent of, the Lenders.
Delivery of Policies, Payment of Premiums. (a) All insurance policies shall be issued by insurance companies authorized to do business in the State of Colorado and be approved by Beneficiary. The insurance companies must have a general policy rating of A- or better and a financial class of X or better by A.M. Best Company, Inc.
Delivery of Policies, Payment of Premiums. That all policies of insurance required hereby shall be issued by companies and in amounts in each company satisfactory to Mortgagee:
Delivery of Policies, Payment of Premiums. Trustor shall furnish Beneficiary with a certificate of insurance evidencing the insurance required hereunder and naming Beneficiary as additional insured. If Trustor elects to provide any of the required insurance through blanket policies carried by Trustor and covering more than one location, then Trustor shall furnish Beneficiary with a certificate of insurance for each such policy setting forth the coverage, the limits of liability, the aggregate amount of all claims paid under said policy, the nature of the carrier, the policy number, and the expiration date. At least thirty (30) days prior to the expiration of each required insurance policy (without regard to any grace period for nonpayment of premium), Trustor shall furnish Beneficiary with evidence satisfactory to Beneficiary of the payment of the premium and the reissuance of a policy continuing in force without lapse or reduction in coverage.
Delivery of Policies, Payment of Premiums. (a) Trustor shall maintain the insurance specified on Exhibit "B", attached hereto and made a part hereof, in full force and effect throughout the term of this Deed of Trust. At Beneficiary's option, all policies of insurance identified in Exhibit "B" must either have attached thereto a beneficiary's loss payable endorsement for the benefit of Beneficiary in form satisfactory to Beneficiary or must name Beneficiary as an additional insured (in each case, in accordance with the requirements of Exhibit "B"). Trustor may provide any of the required insurance through blanket policies carried by Trustor and covering more than one location, or by policies procured by a party holding under Trustor; provided, however, all such policies must be in form and substance and issued by companies reasonably satisfactory to Beneficiary. At least thirty (30) days prior to the expiration of each required policy, Trustor shall deliver to Beneficiary evidence satisfactory to Beneficiary of the payment of premium and the renewal or replacement of such policy continuing insurance in the form required by this Deed of Trust. All such policies must contain a provision that, notwithstanding any contrary agreement between Trustor and an insurance company, such policies will not be cancelled, allowed to lapse without renewal, surrender, reduced in scope or limits of coverage or otherwise materially amended, without at least thirty (30) days' prior written notice to Beneficiary.
Delivery of Policies, Payment of Premiums. (a) At Beneficiary's option Trustor shall furnish Beneficiary with a copy of all policies of insurance required under Section 1.3 above or evidence of insurance issued by the applicable insurance company for each required policy setting forth the coverage, the limits of liability, the name of the carrier, the policy number and the period of coverage, and otherwise in form and substance satisfactory to Beneficiary in all respects.
Delivery of Policies, Payment of Premiums. (a) At Lender's option all policies of insurance must either have attached thereto a lender's loss payable endorsement for the benefit of Lender in form satisfactory to Lender or must name Lender as an additional insured (in each case, in accordance with the requirements of the Loan Agreement). At Lender's option, Borrower shall furnish Lender with an original of all policies of insurance required under Section 1.3 above or a certificate of insurance for each required policy setting forth the coverage, the limits of liability, the name of the carrier, the policy number and the period of coverage (and subject to any further requirements set forth in the Loan Agreement). If Lender consents, Borrower may provide any of the required insurance through blanket policies carried by Borrower and covering more than one location, or by policies procured by a party holding under Borrower; provided, however, all such policies must be in form and substance and issued by companies reasonably satisfactory to Lender. At least ten (10) days prior to the expiration of each required policy, Borrower shall deliver to Lender evidence satisfactory to Lender of the payment of premium and the renewal or replacement of such policy continuing insurance in the form required by this Deed of Trust. All such policies must contain a provision that, notwithstanding any contrary agreement between Borrower and an insurance company, such policies will not be cancelled, allowed to lapse without renewal, surrender, reduced in scope or limits of coverage or otherwise materially amended, without at least thirty (30) days' prior written notice to Lender.
Delivery of Policies, Payment of Premiums. All policies of insurance required by the terms of this Mortgage shall be issued by companies and in amounts satisfactory to Mortgagee.
Delivery of Policies, Payment of Premiums. All policies of insurance required by this Agreement will be issued by companies and in amounts satisfactory to Lender. Without limiting Lender's discretion to approve insurers and coverages, such insurance companies must (i) be financially sound and responsible insurance companies authorized to do business in the State, (ii) have an investment grade rating for claims paying ability assigned by one or more credit rating agencies approved by Lender and (iii) have a general policy rating of A- or better and a financial class of VIII or better as rated by A.M. Best Company, Inc. or a similar rating agency.
