Common use of Insurance and Risk of Loss Clause in Contracts

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All Debtors shall at all times bear all risk of loss, damage to or destruction of the Collateral shall at all times be on DebtorCollateral. Debtor will Debtors agree to procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to on the Collateral Inventory, for the full insurable value thereof and for the life of this Security Agreement Agreement, in the form of Fire Insurance with Extended Coverage or Combined Additional Coverage, as appropriate, and Collision, Theft and/or Vandalism and Malicious Mischief Coverage when appropriate, plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyspecify from time to time, all in form and shall amount and with insurers satisfactory to Secured Party. Debtors agree to deliver promptly deliver each policy to Secured Party certificates, or if requested, policies of insurance satisfactory to Secured Party, each with a standard long-form mortgagee loss-payable endorsement attached thereto showing loss payable naming Secured Party or assigns as loss-payee as their interests may appear. Each policy shall provide that Secured Party’s interest therein will not be invalidated by the acts, omissions or neglect of anyone other than Secured Party, and will contain insurer’s agreement to give 30 days prior written notice to Secured Party before the cancellation of or any material change in the policy will be effective as to Secured Party; and providing Secured Party with not less than 30 days written notice , whether such cancellation or change is at the direction of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Debtors or insurer. Secured Party; Secured Party's ’s acceptance of policies in lesser amounts or risks shall will not be a waiver of a Debtor's ’s foregoing obligationsobligation. As Debtors assign to Secured Party all proceeds of such insurance, including returned and unearned premiums, not to exceed the sum of all amounts payable pursuant hereto. Debtors direct all insurers to pay such proceeds directly to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyAgreement, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto Certificate of Insurance reflecting the aforesaid and showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and if an event of default has occurred and is continuing hereunder, then Debtor irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (cb) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (dc) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing; and provided further however, if an event of default has not occurred and is not continuing hereunder, then Debtor is permitted to handle all insurance claims. Debtor shall provide to Secured Party a true copy of each insurance policy. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full forceforce and provide evidence thereof to Secured Party, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All Debtor shall at all times bear all risk of lossloss of, damage to or destruction of the Collateral shall at all times be on DebtorEquipment. Debtor will agrees to immediately procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to on the Collateral Equipment, for the full insurable value thereof and for the life of this Security Agreement Agreement, in the form of "All Risk" or similar insurance (insuring the Equipment for fire, extended coverage, vandalism, theft and collision and containing only those exclusions from coverage which are acceptable to Secured Party) plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyspecify from time to time, all in form and shall amount and with insurers satisfactory to Secured Party. Debtor agrees to deliver promptly deliver each policy to Secured Party certificates or, if requested, policies of insurance satisfactory to Secured Party, each with a standard long-form mortgagee loss-payable endorsement attached thereto showing loss payable naming Secured Party or assigns as loss-payee and providing that Secured Party's rights under such policy will not be invalidated by any act, omission or neglect of anyone other than Secured Party, and containing the insurer's agreement to give 30 days prior written notice to Secured Party before any cancellation of or material change in the policy(s) will be effective as to Secured Party; and providing Secured Party with not less than 30 days written notice , whether such cancellation or change is at the direction of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Debtor or insurer. Secured Party's acceptance of policies in lesser amounts or risks shall will not be a waiver of Debtor's foregoing obligations. As obligation to procure insurance complying with the provisions hereof promptly after notice from Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party all proceeds of any monies physical damage or credit insurance for which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney a charge is stated in fact (a) to hold each original insurance policythis Agreement or which is maintained by Debtor in accordance herewith, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or and unearned premiums, and (d) up to endorse the amount owing hereunder by Debtor. Secured Party will not have the right to cancel any such insurance without Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds consent prior to the payment occurrence of an event of default and the repossession, loss or destruction of the indebtedness owing Equipment. Debtor directs all insurers to Secured Party; provided, however, pay such proceeds solely to the order of Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium for application to Debtor's indebtedness under this Security Agreementto Secured Party. The full amount of Secured Party may, at its option, apply any such premium paid proceeds received by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event the final maturing installments due hereunder in the inverse order of default under this Security Agreementtheir maturity.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance Insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver waive of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured secured Party as Debtor's attorney in In fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insuranceInsurance, (c) to make claims for any monies which may become payable under such and other insurance Insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may reasonably specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers reasonably satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All Debtor shall at all times bear all risk of lossloss of, damage to or destruction of the Collateral shall at all times be on DebtorEquipment. Debtor will agrees to immediately procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to on the Collateral Equipment, for the full insurable value thereof and for the life of this Security Agreement Agreement, in the form of "All Risk" or similar insurance (insuring the Equipment for fire, extended coverage, vandalism, theft and collision and containing only those exclusions from coverage which are acceptable to Secured Party) plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyspecify from time to time, all in form and shall amount and with insurers satisfactory to Secured Party. Debtor agrees to deliver promptly deliver each policy to Secured Party certificates or, if requested, policies of insurance satisfactory to Secured Party, each with a standard long-form mortgagee loss-payable endorsement attached thereto showing loss payable naming Secured Party or assigns as loss-payee and providing that Secured Party's rights under such policy will not be invalidated by any act, omission or neglect of anyone other than Secured Party and containing the insurer's agreement to give 30 days prior written notice to Secured Party before any cancellation of or material change in the policy(s) will be effective as to Secured Party; and providing Secured Party with not less than 30 days written notice , whether such cancellation or change is at the direction of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Debtor or insurer. Secured Party's acceptance of policies in lesser amounts or risks shall will not be a waiver of Debtor's foregoing obligations. As obligation to procure insurance complying with the provisions hereof promptly after notice from Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party all proceeds of any monies physical damage or credit insurance for which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney a charge is stated in fact (a) to hold each original insurance policythis Agreement or which is maintained by Debtor in accordance herewith, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or and unearned premiums, and (d) up to endorse the amount owing hereunder by Debtor. Secured Party will not have the right to cancel any such insurance without Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds consent prior to the payment occurrence of an event of default and the repossession, loss or destruction of the indebtedness owing Equipment. Debtor directs all insurers to Secured Party; provided, however, pay such proceeds solely to the order of Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium for application to Debtor's indebtedness under this Security Agreementto Secured Party. The full amount of Secured Party may, at its option, apply any such premium paid proceeds received by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event the final maturing installments due hereunder in the inverse order of default under this Security Agreementtheir maturity.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the each item of Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's ’s expense insurance against all risks of loss or physical damage to the each item of Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty with insurance and such other insurance thereon in amounts and against such risks as carriers reasonably satisfactory to Secured Party may specify, and until such time that the Payoff Amount with respect to such item of Collateral shall have been received by Secured Party. Debtor shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; Party and providing evidencing the carrier’s or broker’s obligation to provide Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's ’s interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact . (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's ’s name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured PartyIndebtedness; provided, however, that Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreementthe Indebtedness. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, within ten (10) days after demand by Secured Party and failure to pay same shall constitute an event Event of default Default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral Eligible Inventory and Eligible Equipment shall at all times be on Debtorthe Company. Debtor The Company will procure forthwith and maintain at Debtor's the Company’s expense insurance against all risks of loss or physical damage to the Collateral Eligible Equipment for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party WFEFI may specify, and shall promptly deliver each policy to Secured Party WFEFI with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured PartyWFEFI; and providing Secured Party WFEFI with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured PartyWFEFI; Secured Party's WFEFIs acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's the Company’s foregoing obligations. As to Secured Party's WFEFls interest in such policy, no act or omission of Debtor the Company or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor The Company hereby assigns to Secured Party WFEFI any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party WFEFI as Debtor's the Company’s attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral Eligible Equipment including returned or unearned premiums, and (d) to endorse Debtor's the Company’s name on any check, check draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured PartyWFEFI; provided, however, Secured Party WFEFI is under no obligation to do any of the foregoing. Should Debtor the Company fail to furnish such insurance policy to Secured PartyWFEFI, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured PartyWFEFI, without waiving or releasing any default or obligation by Debtorthe Company, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor therefore on behalf of Debtor the Company and charge the premium to Debtor's the Company’s indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party WFEFI shall be payable by Debtor the Company upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All Debtor shall at all times bear all risk of lossloss of, damage to or destruction of the Collateral shall at all times be on DebtorEquipment. Debtor will agrees to immediately procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to on the Collateral Equipment, for the full insurable value thereof and for the life of this Security Agreement Agreement, in the form of "All Risk" or similar insurance (insuring the Equipment for fire, extended coverage, vandalism, theft and collision and containing only those exclusions from coverage which are acceptable to Secured Party) plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyspecify from time to time, all in form and shall amount and with insurers satisfactory to Secured Party. Debtor agrees to deliver promptly deliver each policy to Secured Party certificates or, if requested policies of insurance satisfactory to Secured Party, each with a standard long-form mortgagee loss-payable endorsement attached thereto showing loss payable naming Secured Party or assigns as loss-payee and providing that Secured Party's rights under such policy will not be invalidated by any act, omission or neglect of anyone other than Secured Party, and containing the insurer's agreement to give 30 days prior written notice to Secured Party before any cancellation of or material change in the policy(s) will be effective as to Secured Party; and providing Secured Party with not less than 30 days written notice , whether such cancellation or change is at the direction of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Debtor or insurer. Secured Party's acceptance of policies in lesser amounts or risks shall will not be a waiver of Debtor's foregoing obligations. As obligation to procure insurance complying with the provisions hereof promptly after notice from Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party all proceeds of any monies physical damage or credit insurance for which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney a charge is stated in fact (a) to hold each original insurance policythis Agreement or which is maintained by Debtor in accordance herewith, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or and unearned premiums, and (d) up to endorse the amount owing hereunder by Debtor. Secured Party will not have the right to cancel any such insurance without Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds consent prior to the payment occurrence of an event of default and the repossession, loss or destruction of the indebtedness owing Equipment. Debtor directs all insurers to Secured Party; provided, however, pay such proceeds solely to the order of Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium for application to Debtor's indebtedness under this Security Agreementto Secured Party. The full amount of Secured Party may, at its option, apply any such premium paid proceeds received by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event the final maturing installments due hereunder in the inverse order of default under this Security Agreementtheir maturity.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on DebtorDebtors. Debtor will Debtors shall procure forthwith and maintain at Debtor's Debtors' expense aircraft hull insurance, including all-risk ground and flight insurance against all risks of loss or physical damage to on the Collateral for an amount at least equal to $48,000,000 (provided that no co-insurance clause in any such policy may limit the full insurable value thereof amount to be paid in the event of a Casualty to an amount less than $48,000,000), subject to deductibles in such minimum amounts as are consistent with industry standards which, in any event, shall not be greater than $750,000, for the life of this Security Agreement plus breach of warranty third party liability insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured PartyParty for amounts in excess of $750,000; and providing that the Secured Party and the Lenders are additional insureds thereunder; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers that are financially sound and solvent, rated in Best's Insurance Guide or any successor thereto with a general policy rating of "A-" and a size rating of at least "VIII" or otherwise satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's Debtors' foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor Debtors or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor Subject to the provisions of the next paragraph, Debtors hereby assigns assign to Secured Party any monies which may become payable under any such policy of hull insurance and irrevocably constitutes and appoints Secured Party as Debtor's Debtors' attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, ; and (db) to endorse Debtor's Debtors' name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; , provided, however, Secured Party is under no obligation to do any of the foregoing. Debtor shall not settle any claims under any hull insurance policy for less than the outstanding indebtedness under the Promissory Notes and Agreements in the case of a Casualty, or the total amount necessary to complete any repairs in the case of any other event of loss or damage exceeding $1,500,000 to any Engine, Part or Airframe, in each case without the consent of the Secured Party, which consent shall not be unreasonably withheld. Debtor may settle all other claims. In the event of Casualty, Debtors pay the Casualty Amount required pursuant to the Promissory Notes and Agreements. Upon payment of the Casualty Amount, and provided no other amount is due hereunder, Debtors will be entitled to recover possession of the Aircraft and Collateral free and clear of the right and interest of Secured Party. In the event of loss of or damage to any Engine, Part or Airframe that does not constitute a Casualty, Debtors will comply with Paragraph 14 hereof. So long as no Event of Default has occurred and continuing, the proceeds of any insurance claim for partial loss or damage to any Engine, Part or Airframe (a) in an amount less than or equal to $750,000 shall be paid directly by the insurance company to Debtors (b) in an amount in excess of $750,000 shall be paid to the Secured Party to be applied to pay for replacements or repairs as requested by Debtors or, if funded by Debtors, shall be paid over to Debtors. Any excess amounts shall be paid to the Secured Party and applied to the outstanding principal amount of the Promissory Notes and Agreements on the next Payment Date. Should Debtor Debtors fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured PartyParty or the Lenders, without waiving or releasing any default or obligation by DebtorDebtors, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor Debtors and charge the premium to Debtor's Debtors' indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor Debtors upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies Policies in lesser amounts or risks shall not be a waiver of Debtor's I foregoing obligations. As to Secured Party's interest in such policy, policy no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in n fact (a) to hold each original insurance policy, policy (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on cm the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoingforgoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating re1ating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.. A very important element of this Security Agreement is that Debtor make all its payments promptly as agreed upon. It is essential that the Collateral remain in good condition and adequate security for the indebtedness. The following are events of default under this Security Agreement which will allow Secured Party to take such action under this Paragraph and under Paragraph 10 as it deems necessary: (a) any of Debtor's obligations to Secured Party under any agreement with Secured Party is not paid promptly when due; (b) Debtor breaches any warranty or provision hereof, or of any note or of any other instrument or agreement de1ivered by Debtor to Secured Party in connection with this or any other transaction;

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral Eligible Inventory and Eligible Equipment shall at all times be on Debtorthe Company. Debtor The Company will procure forthwith and maintain at Debtorthe Company's expense insurance against all risks of loss or physical damage to the Collateral Eligible Inventory and Eligible Equipment for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party CIT may specify, and shall promptly deliver each policy to Secured Party CIT with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured PartyCIT; and providing Secured Party CIT with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured PartyCIT; Secured PartyCIT's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtorthe Company's foregoing obligations. As to Secured PartyCIT's interest in such policy, no act or omission of Debtor the Company or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor The Company hereby assigns to Secured Party CIT any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party CIT as Debtorthe Company's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral Eligible Inventory and Eligible Equipment including returned or unearned premiums, and (d) to endorse Debtorthe Company's name on any check, check draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured PartyCIT; provided, however, Secured Party CIT is under no obligation to do any of the foregoing. Should Debtor the Company fail to furnish such insurance policy to Secured PartyCIT, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured PartyCIT, without waiving or releasing any default or obligation by Debtorthe Company, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor the Company and charge the premium to Debtorthe Company's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party CIT shall be payable by Debtor the Company upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form term mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. The insurance maintained by Debtor should be primary without any right of contribution from insurance which may be maintained by Secured Party. Debtor shall be liable for all deductible portions of all required insurance. Debtor hereby assigns to Secured Party any monies moneys which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies moneys which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness Obligations owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness Obligations under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Party's Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, premiums and (d) to endorse Debtor's name on any check, draft or other instrument instruments received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then the Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of the Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral (other than loss, damage or destruction caused by Secured Party) shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense during the term of the applicable Schedule insurance against all risks of loss or physical damage to on the Collateral for in the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in respective amounts and against such risks with the respective coverages as Secured Party may specify, and shall promptly deliver each policy reflected on the certificates of insurance delivered by Debtor to Secured Party with a standard long-form mortgagee at or before the time such Schedule becomes effective. Debtor shall promptly, upon written request, deliver to Secured Party evidence of such insurance and an endorsement attached thereto showing Secured Party as loss payable to Secured Party; payee as its interests may appear in respect of the Collateral, and providing Secured Party with not less than 30 days written notice of cancellation; each . Each such policy shall be in form, terms with financially sound and amount and with reputable insurance carriers satisfactory to Secured Party; companies. Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable with respect to the Collateral under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, solely with respect to the Collateral, (cb) to make claims for any monies which may become payable under such and other insurance on the Collateral Collateral, including returned or unearned premiums, and (dc) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy policy, solely with respect to the Collateral, and to apply the funds to the payment of the indebtedness owing to Secured PartyParty hereunder and secured by such Collateral; provided, however, Secured Party is under no obligation to do any of the foregoing; and provided, further, that if requested by Debtor in writing within 30 days after Secured Party's receipt of such proceeds and if no event of default described in Paragraph 9 exists at such time, Debtor may apply such proceeds to repair or replace the damaged or destroyed Collateral so long as (1) such repair or replacement is promptly undertaken and pursued to completion, (2) the repaired or replaced Collateral is at all times free and clear of liens, claims, security interests and encumbrances, other than statutory liens, claims, security interests, and encumbrances expressly permitted under this Master Security Agreement or any applicable Schedule, (3) Debtor complies with such disbursement procedures for such proceeds as Secured Party may reasonably impose for repair or replacement, and (4) the amount of proceeds from any single casualty affecting the Collateral does not exceed $5,000,000. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, force or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) ), upon prior written notice to Debtor, obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreementthe applicable Schedule. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Master Security Agreement.

Insurance and Risk of Loss. All At all times during the term of this Agreement, Debtor shall bear the entire risk of loss, damage to loss or destruction of of, or damage to, the Collateral shall at all times be on DebtorCollateral. Debtor will procure forthwith and continuously maintain at Debtor's expense “all risk” property insurance against all risks covering each item of loss or physical damage to the Collateral for the full insurable replacement value thereof for the life of this Security Agreement thereof, plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyspecify from time to time. Each policy of insurance shall contain a standard Lender’s Loss Payable Endorsement in favor of Secured Party, and shall promptly deliver each policy providing for, among other things, thirty (30) days prior written notice to Secured Party with a standard longof any cancellation, non-form mortgagee endorsement attached thereto showing loss payable to renewal or modification of such coverage. Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's ’s acceptance of policies in lesser amounts or risks in one instance shall not be a waiver of Debtor's foregoing obligations’s obligations hereunder in any other instances. As In the event of Debtor’s failure to secure and maintain insurance as herein required, or should Debtor request Secured Party to secure insurance on Debtor’s and Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however’s behalf, Secured Party is under no obligation may, to do any of protect and insure the foregoing. Should Debtor fail to furnish Collateral, at its sole option, secure such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge Debtor the premium amounts necessary to Debtor's indebtedness under this Security Agreement. The full amount of any procure such premium paid insurance.. Any amounts expended by Secured Party in procuring such insurance shall be payable become part of the obligations so secured by the Collateral and Debtor upon demandhereby promises to pay to Secured Party on demand any such amounts expended. The cost of such insurance may include: (i) premium expense; (ii) reasonable premium finance charges; and (iii) reasonable fees for billing and other administrative services. Secured Party’s affiliates may act as insurance carrier, premium finance company and/or insurance administrator, and failure to pay same shall constitute may be compensated through premium charges, commissions, premium rebates and fees. Secured Party will promptly discontinue any insurance purchased by Secured Party upon Debtor’s presentation of proper evidence of valid insurance meeting the requirements of this Section. Debtor hereby agrees that Secured Party may act as Debtor’s representative in making, adjusting and settling claims under or cancelling any such insurance policies covering the Collateral, and endorsing Debtor’s name on any drafts, checks or other instruments drawn by an event insurer of default under this Security Agreementthe Collateral.

Insurance and Risk of Loss. All Debtor shall at all times bear all risk of lossloss of, damage to or destruction of the Collateral shall at all times be on DebtorEquipment. Debtor will agrees to immediately procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to on the Collateral Equipment, for the full insurable value thereof and for the life of this Security Agreement Agreement, in the form of "All Risk" or similar insurance (insuring the Equipment for fire extended coverage, vandalism, theft and collision and containing only those exclusions from coverage which are acceptable to Secured Party) plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyspecify from time to time, all in form and shall amount and with insurers satisfactory to Secured Party. Debtor agrees to deliver promptly deliver each policy to Secured Party certificates or, if requested, policies of insurance satisfactory to Secured Party, each with a standard long-form mortgagee loss-payable endorsement attached thereto showing loss payable naming Secured Party or assigns as loss-payee and providing that Secured Party's rights under such policy will not be invalidated by any act, omission or neglect of anyone other than Secured Party, and containing the insurer's agreement to give 30 days prior written notice to Secured Party before any cancellation of or material change in the policy(s) will be effective as to Secured Party; and providing Secured Party with not less than 30 days written notice , whether such cancellation or change is at the direction of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Debtor or insurer. Secured Party's acceptance of policies in lesser amounts or risks shall will not be a waiver of Debtor's foregoing obligations. As obligation to procure insurance complying with the provisions hereof promptly after notice from Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party all proceeds of any monies physical damage or credit insurance for which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney a charge is stated in fact (a) to hold each original insurance policythis Agreement or which is maintained by Debtor in accordance herewith, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or and unearned premiums, and (d) up to endorse the amount owing hereunder by Debtor. Secured Party will not have the right to cancel any such insurance without Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds consent prior to the payment occurrence of an event of default and the repossession, loss or destruction of the indebtedness owing Equipment. Debtor directs all insurers to Secured Party; provided, however, pay such proceeds solely to the order of Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium for application to Debtor's indebtedness under this Security Agreementto Secured Party. The full amount of Secured Party may, at its option, apply any such premium paid proceeds received by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event the final maturing installments due hereunder in the inverse order of default under this Security Agreementtheir maturity.

Insurance and Risk of Loss. All AU risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor shall maintain comprehensive public liability Insurance in an amount reasonably acceptable to the Secured Party. Debtor will procure forthwith and also maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for tor the life of this Security Agreement plus breach of warranty insurance and such other insurance Insurance thereon in In amounts and against such risks as Secured Party may specify, and shall promptly shallpromptly deliver each policy to Secured Party with a standard stand11rd long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance Insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy'Policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer insured to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance Insurance and irrevocably Irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, ({b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance Insurance on the Collateral including Including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument Instrument received in In payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured PartyIndebtedness; provided, however, ,Secured Party is under no obligation to do any any, of the foregoing. Should Debtor fail to furnish such insurance policy Insurance policies to Secured Party, or to maintain such policy policies in full force, or to pay any premium in whole or in In part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on On behalf of Debtor and charge Include the premium to Debtor's indebtedness ln the Indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All At all times during the term of this Agreement, Debtor shall bear the entire risk of loss, damage to loss or destruction of of, or damage to, the Collateral shall at all times be on DebtorCollateral. Debtor will procure forthwith and continuously maintain at Debtor's expense “all risk” property insurance against all risks covering each item of loss or physical damage to the Collateral for the full insurable replacement value thereof for the life of this Security Agreement thereof, plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specifyspecify from time to time. Each policy of insurance shall contain a standard Lender’s Loss Payable Endorsement in favor of Secured Party, and shall promptly deliver each policy providing for, among other things, thirty (30) days prior written notice to Secured Party with a standard longof any cancellation, non-form mortgagee endorsement attached thereto showing loss payable to renewal or modification of such coverage. Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's ’s acceptance of policies in lesser amounts or risks in one instance shall not be a waiver of Debtor's foregoing obligations’s obligations hereunder in any other instances. As In the event of Debtor’s failure to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of secure and maintain insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, howeverherein required, Secured Party is under no obligation may to do any of protect and insure the foregoing. Should Debtor fail to furnish Collateral, at its sole option, secure such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium Debtor hereby promises to Debtor's indebtedness under this Security Agreement. The full amount of pay to Secured Party on demand any such premium paid amounts expended by Secured Party shall be payable in securing such insurance as part of the obligations payment of which is secured by Debtor upon demandthe Collateral pursuant to this Agreement. Insurance purchased by Secured Party may include coverage beyond those required by this Section. The cost of such insurance may include: (i) premium expense; (ii) premium finance charges; and (iii) fees for billing and other administrative services. Secured Party’s affiliates may act as insurance carrier, premium finance company and/or insurance administrator, and failure to pay same shall constitute may be compensated through premium charges, commissions, premium rebates and fees. Debtor acknowledges that any insurance obtained by Secured Party is solely for the benefit of Secured Party and may be more expensive than insurance obtained by Debtor. Secured Party will promptly discontinue any insurance purchased by Secured Party upon Debtor’s presentation of proper evidence of valid insurance meeting the requirements of this Section. Debtor hereby agrees that Secured Party may act as Debtor’s representative in making, adjusting and settling claims under or canceling any such insurance policies covering the Collateral, and endorsing Debtor’s name on any drafts, checks or other instruments drawn by an event insurer of default under this Security Agreementthe Collateral.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will shall procure forthwith and maintain at Debtor's ’s expense aircraft hull insurance, including all-risk ground and flight insurance against all risks of loss or physical damage to on the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver a copy of each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's ’s acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's ’s foregoing obligations. As to Secured Party's ’s interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. If any loss, destruction or damage occurs with respect to the Collateral, Debtor shall diligently pursue its rights to compensation against all relevant insurers with respect to such loss. Debtor shall not, without the consent of Secured Party, compromise or settle any claim with respect to the Collateral involving an amount in excess of $250,000. If after any such loss, destruction or damage the Debtor and the Secured Party determine the Collateral can be repaired to comparable value, all awards, amounts, damages, compensation, payments, settlements and proceeds in respect of any such loss, damage or destruction to the Collateral at the option of Debtor, shall be used to repair or replace the Collateral, and if such amounts are insufficient to repair the Collateral to comparable value, the Debtor shall use its own funds to complete the repairs. If after any such loss, destruction or damage the Debtor and the Secured Party cannot agree that the Collateral can be repaired to comparable value, all awards, amounts, damages, compensation, payments, settlements and proceeds in respect of any such loss, damage or destruction to the Collateral in an amount of $250,000 or more, at the option of Secured Party, shall be used to repair or replace the Collateral or to repay the obligations secured hereby. Effective upon the occurrence and during the continuance of an Event of Default, Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's ’s attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, ; (cb) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, ; and (dc) to endorse Debtor's ’s name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish evidence of such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's ’s indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement. 9.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral Eligible Inventory and Eligible Equipment shall at all times be on Debtorthe Company. Debtor The Company will procure forthwith and maintain at Debtorthe Company's expense insurance against all risks of loss or physical damage to the Collateral Eligible Equipment for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party CIT may specify, and shall promptly deliver each policy to Secured Party CIT with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured PartyCIT; and providing Secured Party CIT with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured PartyCIT; Secured PartyCIT's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtorthe Company's foregoing obligations. As to Secured PartyCIT's interest in such policy, no act or omission of Debtor the Company or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor The Company hereby assigns to Secured Party CIT any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party CIT as Debtorthe Company's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral Eligible Equipment including returned or unearned premiums, and (d) to endorse Debtorthe Company's name on any check, check draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured PartyCIT; provided, however, Secured Party CIT is under no obligation to do any of the foregoing. Should Debtor the Company fail to furnish such insurance policy to Secured PartyCIT, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured PartyCIT, without waiving or releasing any default or obligation by Debtorthe Company, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor the Company and charge the premium to Debtorthe Company's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party CIT shall be payable by Debtor the Company upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

Insurance and Risk of Loss. All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. The insurance maintained by Debtor should be primary without any right of contribution from insurance which may be maintained by Secured Party. Debtor shall be liable for all deductible portions of all required insurance. Debtor hereby assigns to Secured Party any monies moneys which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies moneys which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness Obligations owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness Obligations under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.