Common use of Insurance; Condemnation Clause in Contracts

Insurance; Condemnation. (a) The Borrower and each Subsidiary Guarantor will, at its expense, procure and maintain, or cause to be procured and maintained, for the benefit of the Borrower, each such Subsidiary Guarantor and the Agent, insurance policies issued by such insurance companies, in such amounts, in such form and substance, and with such coverages, endorsements, deductibles and expiration dates as are acceptable to the Agent, providing the following types of insurance covering each Pool Property: (i) Property insurance against loss resulting from events comparable to those insured against under the Insurance Services Office (“ISO”) “Cause of Loss – Special Form” endorsement, covering each Building and the contents therein of the Borrower and its Subsidiaries in an amount not less than the full insurable replacement value of each Building and the contents therein of the Borrower and its Subsidiaries or such other amount as the Agent may approve, with deductibles not to exceed $25,000.00 for any one occurrence. Coverage shall be provided on a replacement cost basis without coinsurance, or with coinsurance suspended by operation of, an agreed value provision, and, if requested by the Agent, a contingent liability from operation of building laws endorsement in such scope and amounts as the Agent may require. Full insurable replacement value as used herein means the cost of replacing the Building (exclusive of the cost of excavations, foundations and footings below the lowest basement floor) and the contents therein of the Borrower and its Subsidiaries without deduction for physical depreciation thereof;

Insurance; Condemnation. (a) The Borrower and each Subsidiary Guarantor will, at its expense, procure and maintain, or cause to be procured and maintained, maintain for the benefit of the Borrower, each such Subsidiary Guarantor and the Agent, insurance policies issued by such insurance companies, in such amounts, in such form and substance, and with such coverages, endorsements, deductibles and expiration dates as are acceptable to the Agent, providing the following types of insurance covering each Pool Mortgaged Property: (i) Property insurance against loss resulting from events comparable to those insured against under the Insurance Services Office (“ISO”) “Cause of Loss – Special Form” endorsement, covering each Building and the contents therein of the Borrower and its Subsidiaries in an amount not less than the full insurable replacement value of each Building and the contents therein of the Borrower and its Subsidiaries or such other amount as the Agent may approve, with deductibles not to exceed $25,000.00 for any one occurrence. Coverage shall be provided on a replacement cost basis without coinsurance, or with coinsurance suspended by operation of, an agreed value provision, and, if requested by the Agent, a contingent liability from operation of building laws endorsement in such scope and amounts as the Agent may require. Full insurable replacement value as used herein means the cost of replacing the Building (exclusive of the cost of excavations, foundations and footings below the lowest basement floor) and the contents therein of the Borrower and its Subsidiaries without deduction for physical depreciation thereof;

Insurance; Condemnation. (a) The Borrower and each Subsidiary Guarantor will, at its expense, procure and maintain, or cause to be procured and maintained, for the benefit of the Borrower, each such Subsidiary Guarantor and the Agent, insurance policies issued by such insurance companies, in such amounts, in such form and substance, and with such coverages, endorsements, deductibles and expiration dates as are acceptable to the Agent, providing the following types of insurance covering each Pool Property: (i) Property insurance against loss resulting from events comparable to those insured against under the Insurance Services Office (“ISO”) “Cause of Loss – Special Form” endorsement, covering each Building and the contents therein of the Borrower Borrower, CVOP I and its itstheir respective Subsidiaries in an amount not less than the full insurable replacement value of each Building and the contents therein of the Borrower Borrower, CVOP I and its itstheir Subsidiaries or such other amount as the Agent may approve, with deductibles not to exceed $25,000.00 for any one occurrence. Coverage shall be provided on a replacement cost basis without coinsurance, or with coinsurance suspended by operation of, an agreed value provision, and, if requested by the Agent, a contingent liability from operation of building laws endorsement in such scope and amounts as the Agent may require. Full insurable replacement value as used herein means the cost of replacing the Building (exclusive of the cost of excavations, foundations and footings below the lowest basement floor) and the contents therein of the Borrower Borrower, CVOP I and its itstheir respective Subsidiaries without deduction for physical depreciation thereof;