Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.
Insurance Covering Collateral. To maintain all risk property damage insurance policies covering the tangible property comprising the collateral. Each insurance policy must be in an amount acceptable to the Bank. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.
Insurance Covering Collateral. To maintain all risk property damage insurance policies covering the tangible property comprising the collateral. Each insurance policy must be in an amount reasonably acceptable to the Bank. The insurance must be issued by an insurance company reasonably acceptable to the Bank and must include a lender's loss payable endorsement in favor of the Bank in a form reasonably acceptable to the Bank.
Insurance Covering Collateral. Promptly upon request therefor, deliver or cause to be delivered to the Agent originals or duplicate originals of all such policies of insurance covering the Collateral. All such insurance policies in respect of property insurance and business interruption insurance shall contain a standard loss payable clause and shall be endorsed to provide that, in respect of the interests of the Agent, the Issuing Bank and the Lenders: (i) the Agent shall be an additional insured, (ii) 30 days' prior written notice of any cancellation, reduction of amounts payable, or any changes and amendments shall be given to the Agent, and (iii) the Agent shall have the right, but not the obligation, to pay any premiums due or to acquire other such insurance upon the failure of a Borrower or such Subsidiary to pay the same or to so insure. All property insurance policies shall name the Agent as sole loss payee in respect of each claim relating to the Collateral and resulting in a payment under any such insurance policy exceeding $1,000,000. Provided that no Default or Event of Default shall exist, the Agent agrees, promptly upon its receipt thereof, to pay over to the Parent, the applicable Credit Party or the applicable Foreign Subsidiary that owns the applicable Property the proceeds of such payment to enable the Parent, the applicable Credit Party or the applicable Foreign Subsidiary to repair, restore or replace the Property subject to such claim. To the extent that such the Parent, the Credit Party or the Foreign Subsidiary fails to repair, restore or replace such Property subject to a claim, subject to Section 2.2(c), an amount equal to such proceeds shall be immediately applied as a permanent reduction of the Aggregate Parent Commitment Amount and/or Aggregate GP Canada Credit Exposure, as the case may be, pursuant to Section 2.4(b). If a Default or Event of Default shall then exist, the Agent shall (i) hold the proceeds of such payment as Collateral until such Default or Event of Default shall no longer exist and then pay over the same to such Borrower or Credit Party to enable such Borrower or Credit Party to repair, restore or replace or cause to be repaired, restored or replaced the Property subject to the claim which resulted in such payment or (ii) hold such proceeds as Collateral and apply the same to the obligations of the Parent or Credit Party under the Loan Documents in such order, in such amounts and at such times as the Agent, with the consent of Required Lender...
Insurance Covering Collateral. Borrower shall maintain all risk ----------------------------- property damage insurance policies covering the Property in an amount at least equal to the value of the dwelling on the Property.
Insurance Covering Collateral. To maintain all risk property damage insurance policies covering the tangible property comprising the Collateral which is not less favorable to the Borrower than the Borrower’s existing insurance coverage as to amount, nature and carrier. Each insurance policy must be for the full replacement cost of the Collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Lender and must include a lender’s loss payable endorsement in favor of the Lender in a form acceptable to the Lender.
Insurance Covering Collateral. To maintain all risk property damage insurance policies covering the Aircraft as required by the Aircraft Mortgage.
Insurance Covering Collateral. Borrower shall maintain all risk property damage and casualty insurance policies covering the Property in an amount at least equal to the value of the dwelling and other improvements on the Property.
Insurance Covering Collateral. To maintain insurance required pursuant to the Deed of Trust. The insurance must be issued by an insurance company reasonably acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.
Insurance Covering Collateral. In addition to the insurance requirements stated above, Borrowers shall also maintain all risk property damage insurance policies covering the tangible property comprising the Collateral. The insurance must be issued by an insurance company acceptable to Lender, must include a lender’s loss payable endorsement in favor of Lender in a form acceptable to Lender.
