Evidence of Commercial Property Insurance Sample Clauses

Evidence of Commercial Property Insurance. (XXXXX FORM 28) • All-risk commercial property insurance incurring all of each Borrower’s property • Ankura Trust Company, LLC and its successors and assigns, as collateral agent, to be designated as “Lender’s Loss Payable,” with Lender’s Loss Payable provision designated. • Ankura Trust Company, LLC name and address to be designated in Name and Address of Additional Interest. • Insured locations to include all locations of Borrowers listed in the Perfection Certificate
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Evidence of Commercial Property Insurance. All-risk commercial property insurance incurring all of each Loan Party’s property • Canadian Imperial Bank of Commerce and its successors and assigns to be designated as “Lender’s Loss Payee,” with Lender’s Loss Payable provision designated. • Canadian Imperial Bank of Commerce name and address to be designated in Name and Address of Additional Interest. • Insured locations to include all locations of Loan Parties listed in the Perfection Certificate
Evidence of Commercial Property Insurance. (XXXXX FORM 28) · All-risk commercial property insurance incurring all of each Borrower’s property · Runway Growth Credit Fund Inc., as collateral agent, and its successors and assigns to be designated as “Lender’s Loss Payable,” with Lender’s Loss Payable provision designated. · Runway Growth Credit Fund Inc., as collateral agent, to be designated in Name and Address of Additional Interest. · Insured locations to include all locations of Borrowers listed in the Perfection Certificate
Evidence of Commercial Property Insurance. (AXXXX FORM 28) · All-risk commercial property insurance incurring all of Grantor’s property · JGB Collateral, LLC and its successors and assigns, as collateral agent, to be designated as “Lender’s Loss Payable,” with Lxxxxx’s Loss Payable provision designated. · JGB Collateral, LLC name and address to be designated in Name and Address of Additional Interest. · Insured locations to include all locations of Grantor listed in the Perfection Certificate Commercial Property Endorsement (Lxxxxx’s Loss Payable Endorsement) · JGB Collateral, LLC, and its successors and assigns, as collateral agent, to be scheduled and designated as “Lender Loss Payable” by endorsement · Lender loss payable clause with stipulation that coverage will not be cancelled without a minimum 30 days’ notice of cancellation.
Evidence of Commercial Property Insurance. (AXXXX FORM 28) · All-risk commercial property insurance incurring all of each Borrower’s property · RUNWAY GROWTH FINANCE CORP., as collateral agent, and its successors and assigns to be designated as “Lender’s Loss Payable,” with Lxxxxx’s Loss Payable provision designated. · RUNWAY GROWTH FINANCE CORP., as collateral agent, to be designated in Name and Address of Additional Interest. · Insured locations to include all locations of Borrowers listed in the Perfection Certificate
Evidence of Commercial Property Insurance. All-risk commercial property insurance incurring all of each Loan Party’s property • Canadian Imperial Bank of Commerce and its successors and assigns to be designated as “Lender’s Loss Payee,” with Lender’s Loss Payable provision designated. • Canadian Imperial Bank of Commerce name and address to be designated in Name and Address of Additional Interest. • Insured locations to include all locations of Loan Parties listed in the Perfection Certificate 4. Commercial Property Endorsement (Lender’s Loss Payable Endorsement) • Canadian Imperial Bank of Commerce and its successors and assigns to be scheduled and designated as “Lender Loss Payee” by endorsement • Lender loss payable clause with stipulation that coverage will not be cancelled or diminished without a minimum of 10 days’ prior written notice for non-payment of premium, or 30 days for any other cancellation. SCHEDULE 1 DISQUALIFIED INSTITUTIONS None.

Related to Evidence of Commercial Property Insurance

  • Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Xxxxxx as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Xxxxxx has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Xxxxxxxx abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Xxxxxxxx does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Xxxxxx may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower’s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.

  • Maintenance of Property; Insurance (a) Keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business.

  • Casualty Insurance The Lessor ☐ The Lessee ☐ The Parties (jointly) shall be responsible for obtaining and maintaining casualty insurance for the Premises for losses against fire.

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