Common use of Insurance and Endorsement Clause in Contracts

Insurance and Endorsement. The Grantor shall (i) keep the Collateral and Grantor's other properties insured against loss or damage by flood (if applicable) and by fire and other hazards (so-called "All Risk" coverage) in amounts and with companies satisfactory to Secured Party to the same extent and covering such risks as is customary in the same or a similar business; (ii) maintain public liability coverage, including without limitation, products liability coverage, against claims for personal injuries or death; and (iii) maintain all worker's compensation, employment or similar insurance as may be required by applicable law. All insurance shall contain such terms, be in such form, and be for such periods satisfactory to Secured Party, and be written by such carriers duly licensed by the State of Ohio and satisfactory to Secured Party. Upon the request of Secured Party, the Grantor shall cause Secured Party to be endorsed as a loss payee in form and substance acceptable to Secured Party on all such insurance. In the event of a failure to provide and maintain insurance as herein provided, Secured Party may, at its option, provide such insurance and charge the amount thereof to the Grantor. Upon the request of Secured Party, the Grantor shall furnish to Secured Party certificates or other satisfactory evidence of compliance with the foregoing insurance provisions. Upon the occurrence of an Event of Default under Section 11, Grantor hereby irrevocably appoints Secured Party as its attorney-in-fact, coupled with an interest, to make proofs of loss and claims for insurance, and to receive payments of the insurance and execute all documents, checks and drafts in connection with payment of the insurance. Any proceeds received by Secured Party shall be applied to the Obligations in such order and manner as Secured Party shall determine in its sole discretion, or shall be remitted to the Grantor, in either event at Secured Party's sole discretion.

Insurance and Endorsement. The Grantor shall (i) keep Keep the Collateral and Grantor's Debtor’s other properties insured against loss or damage by flood (if applicable) and by fire and other hazards (so-called "“All Risk" ” coverage) in amounts and with companies satisfactory to Secured Party to the same extent and covering such risks as is customary in the same or a similar business; (ii) maintain public liability coverage, including without limitation, products liability coverage, against claims for personal injuries or death; and (iii) maintain all worker's ’s compensation, employment or similar insurance as may be required by applicable law. ; (ii) All insurance shall contain such terms, be in such form, and be for such periods satisfactory to Secured Party, and be written by such carriers duly licensed by the State of Ohio and satisfactory to Secured Party. Upon Without limiting the request generality of the foregoing, such insurance must provide that it may not be canceled without ten (10) days prior written notice to Secured Party, the Grantor . The Debtor shall cause Secured Party to be endorsed as a loss payee with a long form Lender’s Loss Payable Clause, in form and substance acceptable to Secured Party on all such insurance. In the event of a failure to provide and maintain insurance as herein provided, Secured Party may, at its option, provide such insurance and charge the amount thereof to the GrantorDebtor. Upon the request of Secured Party, the Grantor The Debtor shall furnish to Secured Party certificates or other satisfactory evidence of compliance with the foregoing insurance provisions. Upon the occurrence of an Event of Default under Section 11, Grantor The Debtor hereby irrevocably appoints Secured Party as its attorney-in-fact, coupled with an interest, to make proofs of loss and claims for insurance, and to receive payments of the insurance and execute all documents, checks and drafts in connection with payment of the insurance. Any proceeds Proceeds received by Secured Party shall be applied to the Obligations in such order and manner as Secured Party shall determine in its sole discretion, or shall be remitted to the GrantorDebtor, in either event at Secured Party's ’s sole discretion.

Insurance and Endorsement. The Grantor shall (i) keep Keep the Collateral and Grantor's Company’s other properties insured against loss or damage by flood (if applicable) and by fire and other hazards (so-called "“All Risk" ” coverage) in amounts and with companies satisfactory to Secured Party to the same extent and covering such risks as is customary in the same or a similar business; (ii) maintain public liability coverage, including without limitation, products liability coverage, against claims for personal injuries or death; and (iii) maintain all worker's compensation, employment or similar insurance as may be required by applicable law. ; (ii) All insurance shall contain such terms, be in such form, and be for such periods reasonably satisfactory to Secured Party, and be written by such carriers duly licensed by the State of Ohio and reasonably satisfactory to Secured Party. Upon Without limiting the request generality of the foregoing, such insurance must provide that it may not be canceled without ten (10) days prior written notice to Secured Party, the Grantor . The Company shall cause Secured Party to be endorsed as a loss payee with a long form Holder’s loss payable clause, in form and substance reasonably acceptable to Secured Party on all such insurance. In the event of a failure to provide and maintain insurance as herein provided, Secured Party may, at its option, provide such insurance and charge the amount thereof to the GrantorCompany. Upon the request of Secured Party, the Grantor The Company shall furnish to Secured Party certificates or other satisfactory evidence of compliance with the foregoing insurance provisions. Upon the occurrence of an Event of Default under Section 11, Grantor The Company hereby irrevocably appoints Secured Party as its attorney-in-fact, coupled with an interest, to make proofs of loss and claims for insurance, and to receive payments of the insurance and execute all documents, checks and drafts in connection with payment of the insurance. Any proceeds Proceeds received by Secured Party shall be applied to the Obligations in such order and manner as Secured Party shall determine in its sole discretion, or shall be remitted to the GrantorCompany, in either event at Secured Party's sole discretion.

Insurance and Endorsement. The Grantor shall (i) keep Keep the Collateral and Grantor's Company’s other properties insured against loss or damage by flood (if applicable) and by fire and other hazards (so-called "“All Risk" ” coverage) in amounts and with companies satisfactory to Secured Party to the same extent and covering such risks as is customary in the same or a similar business; (ii) maintain public liability coverage, including without limitation, products liability coverage, against claims for personal injuries or death; and (iii) maintain all worker's ’s compensation, employment or similar insurance as may be required by applicable law. ; (ii) All insurance shall contain such terms, be in such form, and be for such periods reasonably satisfactory to Secured Party, and be written by such carriers duly licensed by the State of Ohio and reasonably satisfactory to Secured Party. Upon Without limiting the request generality of the foregoing, such insurance must provide that it may not be canceled without ten (10) days prior written notice to Secured Party, the Grantor . The Company shall cause Secured Party to be endorsed as a loss payee with a long form Holder’s loss payable clause, in form and substance reasonably acceptable to Secured Party on all such insurance. In the event of a failure to provide and maintain insurance as herein provided, Secured Party may, at its option, provide such insurance and charge the amount thereof to the GrantorCompany. Upon the request of Secured Party, the Grantor The Company shall furnish to Secured Party certificates or other satisfactory evidence of compliance with the foregoing insurance provisions. Upon the occurrence of an Event of Default under Section 11, Grantor The Company hereby irrevocably appoints Secured Party as its attorney-in-fact, coupled with an interest, to make proofs of loss and claims for insurance, and to receive payments of the insurance and execute all documents, checks and drafts in connection with payment of the insurance. Any proceeds Proceeds received by Secured Party shall be applied to the Obligations in such order and manner as Secured Party shall determine in its sole discretion, or shall be remitted to the GrantorCompany, in either event at Secured Party's ’s sole discretion.