Common use of Insurance After Completion Clause in Contracts

Insurance After Completion. The Company shall and covenants and agrees that it will, prior to or simultaneously with the expiration of the insurance provided for in the preceding section and throughout the Basic Term at its sole cost and expense, keep the Project continuously insured against loss or damage by fire, lightning and all other risks covered by the broadest form extended coverage insurance endorsement then in use in the State in an amount equal to the Full Insurable Value thereof in such insurance company or companies as it may select and shall at all times maintain general accident and public liability insurance required pursuant to Section 6.1(a), all of which policies shall name Company, Issuer, and Trustee as insureds or additional insureds, as their interests appear, which policies shall not be cancelable except upon at least 10 days prior written notice to Issuer and Trustee.

Insurance After Completion. The Company shall and covenants and agrees that it will, prior to or simultaneously with the expiration of the insurance provided for in the preceding section and throughout the Basic Term at its sole cost and expense, keep the Project continuously insured against loss or damage by fire, lightning and all other risks covered by the broadest form extended coverage insurance endorsement then in use in the State in an amount equal to the Full Insurable Value thereof in such insurance company or companies as it may select and shall at all times maintain general accident and public liability insurance required pursuant to Section 6.1(a), all of which policies shall name Company, Issuer, and Trustee as insureds or additional insureds, as their interests appear, which policies shall not be cancelable except upon at least 10 days prior written notice to Issuer and Trustee.