Common use of Inspection Rights and Insurance Clause in Contracts

Inspection Rights and Insurance. (a) Any First Priority Secured Party and its representatives and invitees may at any time, to the extent permitted under the First Priority Documents, inspect, repossess, remove and otherwise deal with the Common Collateral, and the First Priority Representative may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second Priority Secured Party or liability to any Second Priority Secured Party. (b) Until the Discharge of First Priority Obligations has occurred, the First Priority Representative will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by the Borrower or any Grantor (except that the Second Priority Representative shall have the right to be named as additional insured and loss payee so long as its second lien status is identified in a manner satisfactory to the First Priority Representative), (ii) to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder, (iii) to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral and (iv) to apply the proceeds of any insurance or condemnation award to the First Priority Obligations in accordance with the First Priority Documents.

Inspection Rights and Insurance. (a) Any First Lien Priority Secured Party and its representatives and invitees may at any time, to the extent permitted under the First Priority Documents, time inspect, repossess, remove and otherwise deal with the Common Collateral, and the Controlling First Lien Priority Representative may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second Lien Priority Secured Party or liability to any Second Lien Priority Secured Party. (b) Until the Discharge of First Lien Priority Obligations Payment Date has occurred, the Controlling First Lien Priority Representative will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by the Borrower or any Grantor Loan Party (except that the each Second Lien Priority Representative shall have the right to be named as additional insured and loss payee so long as its second junior lien status is identified in a manner satisfactory to the Controlling First Lien Priority Representative), ; (ii) as among the Secured Parties, to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder, and (iii) as among the Secured Parties, to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral and (iv) to apply the proceeds of any insurance or condemnation award to the First Priority Obligations in accordance with the First Priority DocumentsCollateral.

Inspection Rights and Insurance. (a) Any First Priority Secured Party and its representatives and invitees may at any time, to the extent permitted under the First Priority Documents and the Second Priority Documents, inspect, repossess, remove and otherwise deal with the Common Collateral, and the First Priority Representative may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second Priority Secured Party or liability to any Second Priority Secured Party. (b) Until the Discharge of First Priority Obligations Payment Date has occurred, the First Priority Representative will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by the Borrower or any Grantor (except that the Second Priority Representative shall have the right to be named as additional insured and loss payee so long as its second lien status is identified in a manner satisfactory to the First Priority Representative), (ii) to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder, thereunder and (iii) to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral and (iv) to apply the proceeds of any insurance or condemnation award to the First Priority Obligations in accordance with the First Priority DocumentsCollateral.

Inspection Rights and Insurance. (a) Any First Priority Secured Party and its representatives and invitees may at any time, to the extent permitted under the First Priority Documents, time inspect, repossess, remove and otherwise deal with the Common CollateralCollateral in accordance with the terms of the First Priority Documents, and the First Priority Representative may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second Priority Secured Party or liability to any Second Priority Secured Party. (b) Until the Discharge of First Priority Obligations Payment Date has occurred, the First Priority Representative will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by the Borrower or any Grantor Loan Party (except that the Second Priority Representative shall have the right to be named as additional insured and loss payee so long as its second lien status is identified in a manner satisfactory to the First Priority Representative), (ii) to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder, thereunder in accordance with the terms of the First Priority Documents and (iii) to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral and (iv) to apply the proceeds of any insurance or condemnation award to the First Priority Obligations in accordance with the terms of the First Priority Documents.

Inspection Rights and Insurance. (a) Any First Priority Secured Party and its representatives and invitees may at any time, to the extent permitted under the First Priority Documents, time inspect, repossess, remove and otherwise deal with the Common Collateral, and the First Priority Representative may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second Priority Secured Party or liability to any Second Priority Secured PartyParty (but in each case in accordance with the terms of the First Priority Documents). (b) Until the Discharge of First Priority Obligations Payment Date has occurred, the First Priority Representative will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by the Borrower or any Grantor Loan Party (except that the Second Priority Representative shall have the right to be named as additional insured and loss payee so long as its second lien status is identified in a manner satisfactory to the First Priority Representative), ; (ii) to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder, thereunder and (iii) to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral and (iv) to apply the proceeds of any insurance or condemnation award to the First Priority Obligations in accordance with the First Priority DocumentsCollateral.

Inspection Rights and Insurance. (a) Any First Lien Senior Priority Secured Party and its representatives and invitees may at any time, to the extent permitted under the First Priority Documents, time inspect, repossess, remove and otherwise deal with the Common Collateral, and the First Lien Senior Priority Representative may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second First Lien Junior Priority Secured Party or liability to any Second First Lien Junior Priority Secured Party. (b) Until the Discharge of First Lien Senior Priority Obligations Payment Date has occurred, the First Lien Senior Priority Representative will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by the Borrower or any Grantor Loan Party (except that the Second First Lien Junior Priority Representative shall have the right to be named as additional insured and loss payee so long as its second junior lien status is identified in a manner satisfactory to the First Lien Senior Priority Representative), ; (ii) as among the Secured Parties, to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder, thereunder and (iii) as among the Secured Parties, to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral and (iv) to apply the proceeds of any insurance or condemnation award to the First Priority Obligations in accordance with the First Priority DocumentsCollateral.

Inspection Rights and Insurance. (a) Any First Priority Secured Party and its representatives and invitees may at any time, to the extent permitted under the First Priority Documents, time inspect, repossess, remove and otherwise deal with the Common CollateralCollateral in accordance with the terms of the First Priority Documents, and the First Priority Representative may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second Junior Priority Secured Party or liability to any Second Junior Priority Secured Party. (b) Until the Discharge of First Priority Obligations Payment Date has occurred, the First Priority Representative will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by the Borrower or any Grantor Loan Party (except that the Second Junior Priority Representative shall have the right to be named as additional insured and loss payee so long as its second or third lien status status, as applicable, is identified in a manner reasonably satisfactory to the First Priority Representative), ; (ii) to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder, thereunder in accordance with the terms of the First Priority Documents and (iii) to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral and (iv) to apply the proceeds of any insurance or condemnation award to the First Priority Obligations in accordance with the terms of the First Priority Documents.