Common use of Fidelity Bonds and Insurance Clause in Contracts

Fidelity Bonds and Insurance. (a) A true, correct and complete list of all fidelity bonds and insurance policies (including any BOLI) owned or held by or on behalf of either MetroCorp or any of its Subsidiaries (other than credit-life policies), including the insurer, policy numbers, amount of coverage, deductible, type of insurance, effective and termination dates and any material pending claims thereunder, is set forth in Schedule 3.18. (b) All policies of general liability, theft, life, fire, workers’ compensation, health, directors and officers, business interruption and other forms of insurance owned or held by MetroCorp or any Subsidiary (i) are in full force and effect and all premiums that are due and payable with respect thereto are currently paid; (ii) are sufficient for compliance with all requirements of applicable laws and of all agreements to which MetroCorp or such Subsidiary is a party; (iii) are usual and customary as to amount and scope for the business conducted by MetroCorp and its Subsidiaries in respect of amounts, types and risks insured (other than the risk of terrorist attacks); (iv) are valid, outstanding and enforceable policies (except as may be limited by bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the rights of creditors generally and the availability of equitable remedies); and (v) will remain in full force and effect through the Effective Time, subject to normal renewal policies and procedures, including, without limitation, the payment of premiums. No insurer under any such policy or bond has canceled or indicated to MetroCorp or any of its Subsidiaries an intention to cancel or not to renew any such policy or bond effective at any time before the Effective Time or generally disclaimed liability thereunder. Neither MetroCorp nor any Subsidiary thereof is in default under any such policy or bond, and all material claims thereunder have been filed. Neither MetroCorp nor any Subsidiary thereof has been denied or had revoked or rescinded any policy of insurance during the last three fiscal years.

Fidelity Bonds and Insurance. (a) A true, correct and complete list of all fidelity bonds and insurance policies (including any BOLI) owned or held by or on behalf of either MetroCorp Oakwood or any of its Subsidiaries (other than credit-life policies), including the insurer, policy numbers, amount of coverage, deductibledeductions, type of insurance, effective and termination dates and any material pending claims thereunder, thereunder is set forth in Schedule 3.18Section 3.19(a) of the Oakwood Disclosure Schedules. (b) All policies of general liability, theft, life, fire, workers’ compensation, health, directors and officers, business interruption and other forms of insurance owned or held by MetroCorp Oakwood or any Subsidiary of its Subsidiaries (i) are in full force and effect and all premiums that are due and payable with respect thereto are currently paid; (ii) are sufficient for compliance with all requirements of applicable laws and of all agreements to which MetroCorp Oakwood or such Subsidiary is a party; (iii) are usual and customary as to amount and scope for the business conducted by MetroCorp Oakwood and its Subsidiaries in respect of amounts, types and risks insured (other than the risk of terrorist attacks)insured; (iv) are valid, outstanding and enforceable policies (except as may be limited by bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the rights of creditors generally and the availability of equitable remedies); and (v) will remain in full force and effect through the Effective Time, subject to normal renewal policies and procedures, including, without limitation, including the payment of premiums. No To the knowledge of Oakwood, no insurer under any such policy or bond has canceled or indicated to MetroCorp Oakwood or any of its Subsidiaries an intention to cancel or not to renew any such policy or bond effective at any time before prior to the Effective Time or generally disclaimed liability thereunder. Neither MetroCorp Oakwood nor any Subsidiary thereof of its Subsidiaries is in default under any such policy or bond, and all material claims thereunder have been filed. Neither MetroCorp Oakwood nor any Subsidiary thereof of its Subsidiaries has been denied or had revoked or rescinded any policy of insurance during the last three (3) fiscal years.

Fidelity Bonds and Insurance. (a) A true, correct and complete list of all fidelity bonds and insurance policies (including any BOLI) owned or held by or on behalf of either MetroCorp the Company or any of its Subsidiaries (other than credit-life policies), including the insurer, policy numbers, amount of coverage, deductibledeductions, type of insurance, effective and termination dates and any material pending claims thereunder, thereunder is set forth in Schedule 3.183.16. (b) All policies of general liability, theft, life, fire, workers’ compensation, health, directors and officers, business interruption and other forms of insurance owned or held by MetroCorp the Company or any Subsidiary (i) are in full force and effect and all premiums that are due and payable with respect thereto are currently paid; (ii) are sufficient for compliance with all requirements of applicable laws and of all agreements to which MetroCorp the Company or such Subsidiary is a party; (iii) are usual and customary as to amount and scope for the business conducted by MetroCorp the Company and its Subsidiaries in respect of amounts, types and risks insured (other than the risk of terrorist attacks); (iv) are valid, outstanding and enforceable policies (except as may be limited by bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the rights of creditors generally and the availability of equitable remedies); and (v) will remain in full force and effect through the Effective Time, subject to normal renewal policies and procedures, including, without limitation, the payment of premiums. No insurer under any such policy or bond has canceled or indicated to MetroCorp the Company or any of its Subsidiaries an intention to cancel or not to renew any such policy or bond effective at any time before the Effective Time or generally disclaimed liability thereunder. Neither MetroCorp the Company nor any Subsidiary thereof of its Subsidiaries is in default under any such policy or bond, and all material claims thereunder have been filed. Neither MetroCorp the Company nor any Subsidiary thereof of its Subsidiaries has been denied or had revoked or rescinded any policy of insurance during the last three fiscal years.

Fidelity Bonds and Insurance. (a) A true, correct and complete list of all fidelity bonds and insurance policies (including any BOLI) owned or held by or on behalf of either MetroCorp the Company or any of its Subsidiaries (other than credit-life policies), including the insurer, policy numbers, amount of coverage, deductibledeductions, type of insurance, effective and termination dates and any material pending claims thereunder, thereunder is set forth in Schedule 3.18Section 3.18(a) of the Disclosure Schedules. (b) All policies of general liability, theft, life, fire, workers’ compensation, health, directors and officers, business interruption and other forms of insurance owned or held by MetroCorp the Company or any Subsidiary (i) are in full force and effect and all premiums that are due and payable with respect thereto are currently paid; (ii) are sufficient for compliance with all requirements of applicable laws and of all agreements to which MetroCorp the Company or such Subsidiary is a party; (iii) are usual and customary as to amount and scope for the business conducted by MetroCorp the Company and its Subsidiaries in respect of amounts, types and risks insured (other than the risk of terrorist attacks)insured; (iv) are valid, outstanding and enforceable policies (except as may be limited by bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the rights of creditors generally and the availability of equitable remedies); and (v) will remain in full force and effect through the Effective Time, subject to normal renewal policies and procedures, including, without limitation, including the payment of premiums. No To the knowledge of the Company, no insurer under any such policy or bond has canceled or indicated to MetroCorp the Company or any of its Subsidiaries an intention to cancel or not to renew any such policy or bond effective at any time before prior to the Effective Time or generally disclaimed liability thereunder. Neither MetroCorp the Company nor any Subsidiary thereof of its Subsidiaries is in default under any such policy or bond, and all material claims thereunder have been filed. Neither MetroCorp the Company nor any Subsidiary thereof of its Subsidiaries has been denied or had revoked or rescinded any policy of insurance during the last three (3) fiscal years.

Fidelity Bonds and Insurance. (a) A true, correct and complete list of all fidelity bonds and insurance policies (including any BOLI) owned or held by or on behalf of either MetroCorp CBI or any of its Subsidiaries (other than credit-life policies), including the insurer, policy numbers, amount of coverage, deductibledeductions, type of insurance, effective and termination dates and any material pending claims thereunder, thereunder is set forth in Schedule 3.18Section 3.19(a) of the CBI Disclosure Schedules. (b) All policies of general liability, theft, life, fire, workers’ compensation, health, directors and officers, business interruption and other forms of insurance owned or held by MetroCorp CBI or any Subsidiary of its Subsidiaries (i) are in full force and effect and all premiums that are due and payable with respect thereto are currently paid; (ii) are sufficient for compliance with all requirements of applicable laws and of all agreements to which MetroCorp CBI or such Subsidiary is a party; (iii) are usual and customary as to amount and scope for the business conducted by MetroCorp CBI and its Subsidiaries in respect of amounts, types and risks insured (other than the risk of terrorist attacks)insured; (iv) are valid, outstanding and enforceable policies (except as may be limited by bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the rights of creditors generally and the availability of equitable remedies); and (v) will remain in full force and effect through the Effective Time, subject to normal renewal policies and procedures, including, without limitation, including the payment of premiums. No To the knowledge of CBI, no insurer under any such policy or bond has canceled or indicated to MetroCorp CBI or any of its Subsidiaries an intention to cancel or not to renew any such policy or bond effective at any time before prior to the Effective Time or generally disclaimed liability thereunder. Neither MetroCorp CBI nor any Subsidiary thereof of its Subsidiaries is in default under any such policy or bond, and all material claims thereunder have been filed. Neither MetroCorp CBI nor any Subsidiary thereof of its Subsidiaries has been denied or had revoked or rescinded any policy of insurance during the last three (3) fiscal years.