Hazard and Other Insurance. 13 14.3 Coverage......................................................14
Hazard and Other Insurance. At all times during the term of this Loan Agreement, Borrower will maintain, at its sole cost and expense, for the mutual benefit of Borrower and Lender, the following Insurance coverages:
Hazard and Other Insurance. During the Term the Lessee shall keep, -------------------------- or cause to be kept, the Property insured against loss or damage by fire, flood and other risks on terms and in amounts that are no less favorable than insurance covering other similar properties owned by the Lessee or its Affiliates and that are in accordance with normal industry practice and as required in the Loan Documents. During the construction of any Improvements the Lessee shall also maintain or cause to be maintained builders' risk insurance.
Hazard and Other Insurance. (a) During the Term for each Property, Lessee shall keep, or cause to be kept, such Property insured against loss or damage by fire and all other risks, and shall maintain builders’ risk insurance during construction of any Improvements or Modifications, in each case in amounts not less than the replacement value from time to time of such Property and on terms that (i) are no less favorable than insurance covering other similar properties owned by Lessee and (ii) are then carried by similarly situated companies conducting business similar to that conducted by Lessee. The policies shall be endorsed to name Lessor and the Agent (for itself and on behalf of the Financing Parties), to the extent of their respective interests, as additional insureds and loss payees; provided, that so long as no Lease Event of Default has occurred and is continuing, any loss payable under the insurance policies required by this Section will be paid to Lessee.
Hazard and Other Insurance. During the Term, Lessee shall keep each piece of Equipment insured against loss or damage by fire and other risks on terms and in amounts that are no less favorable than insurance maintained by owners of similar equipment, that are in accordance with normal industry practice, are in amounts equal to the greater of (i) Termination Value and (ii) the actual replacement cost of the Equipment. So long as no Lease Event of Default exists, any loss payable under the insurance policy required by this Section will be paid to and adjusted solely by Lessee, subject to Section 15.
Hazard and Other Insurance. The Lessee shall keep, or cause to be kept, the Property insured against loss or damage by fire, flood and other risks in an amount not less than the greater of the amount set forth on SCHEDULE 14.2 and the then current replacement costs of the buildings and improvements on the Property and on terms that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or any of its Affiliates and that are in accordance with prudent business practice. The Lessee may provide such coverage under blanket policies maintained by or on behalf of the Lessee; PROVIDED, that if the Lessee does not elect to terminate the Lease pursuant to ARTICLE XVI hereof following the occurrence of an event covered by any such blanket policy, the proceeds shall be applied to the repair, rebuilding and restoration of any damage to the Property. Prior to the Completion Date for the Expansion Improvements, no insurance coverage applicable to the Expansion Improvements required under this SECTION 14.2 shall be subject to any deductible. During the construction of the Expansion Improvements the Lessee shall also maintain builders' risk insurance. Each policy of insurance maintained by the Lessee pursuant to this SECTION 14.2 shall provide that all insurance proceeds with respect to the Property in respect of any loss or occurrence with respect to the Property shall be paid to and adjusted solely by the Agent (at the expense of the Lessee) during the Construction Period with respect to the Expansion Improvements only and at any other time, by (and such proceeds shall be paid to) the Lessee, except from and after the date on which the insurer receives written notice from the Lessor or the Agent that a Lease Event of Default exists (and unless and until such insurer receives written notice from the Lessor or the Agent that all Lease Events of Default have been cured), all losses shall be adjusted solely by, and all insurance proceeds shall be paid solely to, the Agent (or the Lessor if the Participation Interests have been fully paid) for application pursuant to ARTICLE XV. The costs and expenses of all insurance required under this SECTION 14.2 (i) applicable to the Expansion Improvements (A) shall be paid by the Lessor (and funded as an Advance funded by the Participants and capitalized as provided in Section 3.7(e)(i) of the Participation Agreement), if arising prior to the related Completion Date, and (B) from and after the related Completion Date, ...
Hazard and Other Insurance. 12 14.3. Coverage.......................................................................................12 ARTICLE XV.......................................................................................................13
Hazard and Other Insurance. (a) Borrower shall obtain and maintain the insurance coverage required by Exhibit C and any other Loan Documents and shall furnish to Bank promptly upon request a certificate or certificates from the respective insurer(s) setting forth the nature and extent of all such insurance maintained by Borrower, and a certified copy of the original policy, including all endorsements thereto, and a satisfactory certificate of insurance with premiums fully paid. Any such insurance may be evidenced by blanket insurance policies covering the Property and other property and assets, provided that each policy otherwise complies with the requirements of the Loan Documents and specifies the amount (if less than all) of the total coverage that is allocated to the Property. Borrower shall not take out separate insurance concurrent in form or contributing in the event of loss with that required to be maintained hereunder unless Bank is included thereon under a standard mortgagee clause (without contribution) acceptable to Bank, with loss payable as provided herein. All insurance shall be primary without right of contribution from any other insurance that may be carried by Borrower or Bank and all of the provisions thereof shall operate in the manner as if there were a separate policy covering each insured. Borrower shall immediately notify Bank whenever any such separate insurance is taken out and shall promptly deliver to Bank any policy or certificate of such separate insurance.
Hazard and Other Insurance. 20 2.4 Condemnation....................................................................................22 2.5
Hazard and Other Insurance. (a) During the Term, Lessee shall keep the Property insured against loss or damage by fire and other risks on terms and in amounts that are no less favorable than insurance maintained by owners of similar properties, that are in accordance with normal industry practice, are in amounts equal to the actual replacement cost of the Improvements. So long as no Lease Event of Default exists, any loss payable under the insurance policy required by this Section will be paid to and adjusted solely by Xxxxxx, subject to Article XV. So long as no Lease Event of Default exists, any loss payable under any title insurance policy covering the Property will be paid to and adjusted solely by Xxxxxx, subject to Article XV.
