Common use of Flood Determination Clause in Contracts

Flood Determination. The Administrative Agent and Lenders shall have received, in form and substance reasonably acceptable to the Administrative Agent, (i) a “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property located in the United States, (ii) for each Mortgaged Property located in the United States that is located in a special flood hazard area, a notice about special flood hazard area status and flood disaster assistance duly executed by the U.S. Borrower, (iii) for each Mortgaged Property located in the United States that is located in a special flood hazard area and for each Mortgaged Property located in Canada that is located in a flood plain, (A) flood insurance, in an amount reasonably satisfactory to the Administrative Agent, (1) maintained with a financially sound and reputable insurer, (2) covering buildings and contents for such Mortgaged Property and (3) otherwise complying with Section 6.1(s).

Flood Determination. The Administrative Agent and Lenders shall have received, in form and substance reasonably acceptable to the Administrative Agent, (i) a “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property located in the United States, (ii) for each Mortgaged Property located in the United States that is located in a special flood hazard area, a notice about special flood hazard area status and flood disaster assistance duly executed by the U.S. Borrower, (iii) for each Mortgaged Property located in the United States that is located in a special flood hazard area and for each Mortgaged Property located in Canada that is located in a flood plain, (A) flood insurance, in an amount reasonably satisfactory to the Administrative Agent, (1) maintained with a financially sound and reputable insurer, (2) covering buildings and contents for such Mortgaged Property and (3) otherwise complying with Section 6.1(s). (aa) [Reserved].