Insurance Casualty Taking. 7.5.1 Borrower shall at all times maintain or cause the appropriate Person to maintain in full force and effect the following insurance: (i) the Collateral Properties shall be insured by insurers of recognized financial responsibility against such losses and risks in compliance with the Major Leases and the requirements set forth in Exhibit E hereto, and (ii) all other assets of the Borrower and the Borrower Subsidiaries shall be insured with such insurance as is reasonable and usual for Persons conducting business operations similar to those of the Borrower and in compliance with the terms of any secured financing with respect thereto.
7.5.2 Without limiting the generality of the insurance requirements set forth herein, only if commercially available at commercially reasonable rates (in an amount reasonably consistent with the amount of such insurance generally obtained by companies engaging in real estate business operations of a similar size and nature as that of the Borrower) either (i) the insurance policies required hereunder shall not include any so called “terrorist exclusion” or similar exclusion or exception to insurance coverage relating to the acts of terrorist groups or individuals, or (ii) excess or blanket coverage with respect thereto shall be provided, which excess or blanket coverage must be in an amount, from an insurer, and in accordance with terms and conditions reasonably acceptable to the Administrative Agent.
7.5.3 All insurance premiums shall be paid, at Borrower’s option either annually in advance or in installments when due, and Administrative Agent shall be provided with evidence of such payment of insurance premiums (or evidence of the relevant installment payment) prior to each renewal or replacement of such coverages.
7.5.4 In the event of any damage or destruction to any Collateral Property by reason of fire or other hazard or casualty, Borrower shall give immediate written notice thereof to Administrative Agent. With respect to any such damage or destruction, the Borrower shall make the Mandatory Principal Payment, if any is required, set forth herein. If there is any condemnation for public use of any Collateral Property, Borrower shall give immediate written notice thereof to Administrative Agent (and Administrative Agent shall thereafter promptly notify the Lenders). With respect to any such condemnation, the Borrower shall make the Mandatory Principal Payment, if any is required, set forth herein. Further, Borrower shal...
Insurance Casualty Taking. 7.5.1 Borrower shall at all times maintain or cause the appropriate Person to maintain in full force and effect the following insurance: (i) to the best of the Borrower's Knowledge, the Individual Properties shall be insured by insurers of recognized financial responsibility against such losses and risks in compliance with the Leases and the requirements set forth in Exhibit E hereto, such insurance maintained by the tenants under the Leases; (ii) the Borrower shall have a monitoring system in place to periodically verify whether the tenants under the Leases have in place insurance as required by the applicable Lease; and (iii) the Borrower shall have satisfactory liability insurance in favor of the Borrower and each of the Borrower Subsidiaries in compliance with the requirements in effect of the date hereof.
7.5.2 In the event of any damage or destruction to any Individual Property (or to the extent now or hereafter applicable, any Collateral) by reason of fire or other hazard or casualty, Borrower shall give immediate written notice thereof to Agent. If there is any condemnation for public use of any Individual Property (or to the extent now or hereafter applicable, any Collateral), Borrower shall give immediate written notice thereof to Agent. Further, Borrower shall upon the request of the Agent provide to the Agent with a report as to the status of any insurance adjustment, condemnation claim, or restoration resulting from any casualty or taking.
Insurance Casualty Taking. 7.6.1 The Borrower shall at all times maintain or cause the Property Owner to maintain in full force and effect those policies of insurance and the terms and limits thereof as are in effect on the date hereof at the Property with insurers of recognized financial responsibility. It being acknowledged that the amounts and limits of all such policies are set forth on the insurance certificates being delivered to the First Union Lender pursuant to Section 6.3.14 of the Omnibus Agreement.
7.6.2 In the event of any damage or destruction to the Property (or to the extent now or hereafter applicable, any Collateral) by reason of fire or other hazard or casualty, the Borrower shall give immediate written notice thereof to the First Union Lender. If there is any condemnation for public use of the Property (or to the extent now or hereafter applicable, any Collateral), the Borrower shall give immediate written notice thereof to the First Union Lender. Further, the Borrower shall provide to the First Union Lender with a report as to the status of any insurance adjustment, condemnation claim, or restoration resulting from any casualty or taking.
Insurance Casualty Taking. (a) T-Two shall at all times maintain or cause the appropriate Person to maintain in full force and effect the following insurance: (i) to the best of T-Two’s Knowledge, the Securitized Properties shall be insured by insurers of recognized financial responsibility against such losses and risks in compliance with the Leases and the requirements set forth in Exhibit E hereto, with such insurance being maintained by the tenants under the Leases; and (ii) T-Two shall have a monitoring system in place to periodically verify whether the tenants under the Leases have in place insurance as required by the applicable Lease.
(b) In the event of any damage or destruction to any Securitized Property (or to the extent now or hereafter applicable, any T-Two Collateral) by reason of fire or other hazard or casualty, T-Two shall give immediate written notice thereof to the Administrative Agent. If there is any condemnation for public use of any Securitized Property (or to the extent now or hereafter applicable, any T-Two Collateral), T-Two shall give immediate written notice thereof to the Administrative Agent. Further, T-Two shall upon the request of the Administrative Agent provide to the Administrative Agent with a report as to the status of any insurance adjustment, condemnation claim, or restoration resulting from any casualty or taking.
Insurance Casualty Taking. 7.5.1 Borrower shall at all times maintain or cause the appropriate Person to maintain in full force and effect the following insurance: (i) the Collateral Properties shall be insured by insurers of recognized financial responsibility against such losses and risks in compliance with the Major Leases and the requirements set forth in Exhibit E, hereto, and (ii) all other assets of the Borrower and the Borrower Subsidiaries shall be insured with such insurance as is reasonable and usual for Persons conducting business operations similar to those of the Borrower and in compliance with the terms of any secured financing with respect thereto.
Insurance Casualty Taking. The Borrower shall at all times maintain or cause the appropriate Person to maintain in full force and effect the following insurance: (i) to the best of the Borrower's Knowledge, the Individual Properties shall be insured by insurers of recognized financial responsibility against such losses and risks in compliance with the Leases or, if such Lease does not require the tenant to maintain insurance for the entire Individual Property, the requirements set forth in Exhibit E hereto; (ii) the Borrower shall have a monitoring system in place to periodically verify whether the tenants under the Leases have in place insurance as required by the applicable Lease; and (iii) the Borrower shall have satisfactory liability insurance in favor of the Borrower and each of the Borrower Subsidiaries in compliance with the requirements in effect of the date hereof.
Insurance Casualty Taking. 46 7.1.6 Inspection..........................................................................47 7.1.7 NMLP Loan Documents.................................................................47 7.1.8 Further Assurances..................................................................47 7.1.9
Insurance Casualty Taking. (1) NMLP shall at all times maintain or cause the appropriate Person to maintain in full force and effect the following insurance: (i) to the best of NMLP's Knowledge, the Individual Properties shall be insured by insurers of recognized financial responsibility against such losses and risks in compliance with the Leases and the requirements set forth in Exhibit E hereto, such insurance maintained by the tenants under the Leases; (ii) NMLP shall have a monitoring system in place to periodically verify whether the tenants under the Leases have in place insurance as required by the applicable Lease; and (iii) NMLP shall have satisfactory liability insurance in favor of NMLP and each of the NMLP Subsidiaries in compliance with the requirements in effect of the date hereof.
(2) In the event of any damage or destruction to any Individual Property (or to the extent now or hereafter applicable, any NMLP Collateral) by reason of fire or other hazard or casualty, NMLP shall give immediate written notice thereof to Agent. If there is any condemnation for public use of any Individual Property (or to the extent now or hereafter applicable, any NMLP Collateral), NMLP shall give immediate written notice thereof to Agent. Further, NMLP shall upon the request of the Agent provide to the Agent with a report as to the status of any insurance adjustment, condemnation claim, or restoration resulting from any casualty or taking.
Insurance Casualty Taking. Insurance by Landlord................................................ 20 7.1.1.
Insurance Casualty Taking. 6.1.1 Tenant shall, at its own cost and expense, maintain during the Term insurance for the benefit of Tenant, Landlord, Landlord’s Adviser, Property Manager and mortgagees from insurers rated at least A-/X by A.M. Best, with terms and coverages reasonably satisfactory to Landlord and with such increases in limits as Landlord may from time to time reasonably request provided that such limits are similar to those then being provided by similar types of tenants in the greater Boston area under leases of similar types of premises for similar uses, and/or as may be required by mortgagees. Initially, Tenant shall maintain the following on an occurrence basis:
(A) Commercial general liability insurance, with coverage for premises/operations, personal injury, and contractual liability with combined limits of liability of not less than the amounts set forth in Section 1.1.
(B) Workers’ compensation insurance with statutory benefits and employers’ liability insurance in the following amounts: each accident, $500,000; disease (policy limit), $500,000; disease (each employee), $500,000. Within 30 days after the Date of Lease, and at least 30 days prior to each policy renewal date, Tenant shall deliver to Landlord certificate(s) evidencing such coverages, and stating that such insurance may not be canceled or amended so as to materially and adversely affect Landlord’s interest without at least 30 days’ prior written notice to Landlord. Liability insurance maintained by Tenant with respect to the Premises shall be deemed to be primary insurance, and any liability insurance maintained by Landlord with respect to the Premises shall be deemed secondary to it. On all liability insurance Landlord, Landlord’s Adviser and Property Manager (and if requested, Landlord’s mortgagees) shall be named as additional insureds.
