Flood Determination. The Collateral Agent and Lenders shall have received, in form and substance reasonably acceptable to the Collateral Agent, (i) a “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property and (ii) for each Mortgaged Property that is located in a flood zone, (A) flood acknowledgements executed by the applicable Borrowers, (B) flood insurance, in an amount reasonably satisfactory to the Collateral Agent, (1) maintained with a financially sound and reputable insurer, (2) covering buildings and contents for such Mortgaged Property and (3) naming the Collateral Agent, as mortgagee and (C) evidence of the payment of premiums then due and payable for the flood insurance required by clause (B).
Appears in 4 contracts
Samples: Credit Agreement, Credit Agreement (Cypress Energy Partners, L.P.), Credit Agreement (Cypress Energy Partners, L.P.)
