Common use of Insurance; Damage to or Destruction of Collateral Clause in Contracts

Insurance; Damage to or Destruction of Collateral. (a) Borrowers will, and will cause each Restricted Subsidiary to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). Borrowers will furnish to Agent, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed to be in compliance with this Section 6.4(a) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as of the date hereof. (b) All insurance policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers or any Credit Party shall fail to maintain insurance in accordance with this Section 6.4, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure such insurance and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (d) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b) and (c) shall not apply to credit insurance.

Insurance; Damage to or Destruction of Collateral. (a) Borrowers will, and will cause each Restricted Subsidiary to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). The Borrowers will furnish to Agent, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed to be in compliance with this Section 6.4(a) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as of the date hereof. (b) All insurance Borrowers will, and will cause each Restricted Subsidiary to, at all times keep its property which constitutes Collateral insured, and all policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, insurance (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers or any Credit Party Restricted Subsidiary shall fail to maintain insurance in accordance with this Section 6.4, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure such insurance and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (d) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b) and (c) shall not apply to credit insurance.

Insurance; Damage to or Destruction of Collateral. (a) Borrowers will, and will cause each of their respective Restricted Subsidiary Subsidiaries to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). The Borrowers will furnish to Agentthe Co-Collateral Agents, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed , including, without limitation, for any Mortgaged Property, Flood Insurance equal to be in compliance with this Section 6.4(athe least of (i) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as the full, unpaid balance of the date hereofLoans and any prior liens on the Mortgaged Property, (ii) the maximum amount of coverage available under the National Flood Insurance Program for the particular type of building or (iii) the full insurable value of the building and/or its contents, in each case with deductibles customarily carried by businesses of the size, character and creditworthiness of the business of the Credit Parties. (b) All insurance Borrowers will, and will cause each of the other Credit Parties to, at all times keep its property which constitutes Collateral insured in favor of Agent, and all policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, insurance (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers or any Credit Party of their respective Subsidiaries shall fail to maintain insurance in accordance with this Section 6.4, or if Borrowers or any of their respective Subsidiaries shall fail to so endorse all policies or certificates with respect thereto, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure such insurance and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (d) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b) and (c) shall not apply to credit insurance. (e) Notwithstanding anything to the contrary contained in this Section 6.4, with respect to any Term Loan Priority Collateral, the provisions of this Section 6.4 shall be subject to the terms and conditions of the Term Loan Credit Documents and the Intercreditor Agreement.

Insurance; Damage to or Destruction of Collateral. (ai) Borrowers will, and will cause each Restricted Subsidiary to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). The Borrowers will furnish to Agent, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed to be in compliance with this Section 6.4(a) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as of the date hereof. (bii) All insurance Borrowers will, and will cause each Restricted Subsidiary to, at all times keep its property which constitutes Collateral insured, and all policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, insurance (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (ciii) If Borrowers or any Credit Party Restricted Subsidiary shall fail to maintain insurance in accordance with this Section 6.4, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure such insurance and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (div) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b) and (c) shall not apply to credit insurance.

Insurance; Damage to or Destruction of Collateral. (a) Borrowers Borrower will, and will cause each of its Restricted Subsidiary Subsidiaries to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). Borrowers Borrower will furnish to Agent, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed , including, without limitation, for any Mortgaged Property, Flood Insurance equal to be in compliance with this Section 6.4(athe least of (i) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as the full, unpaid balance of the date hereofTerm Loans and any prior liens on the Mortgaged Property, (ii) the maximum amount of coverage available under the National Flood Insurance Program for the particular type of building or (iii) the full insurable value of the building and/or its contents, in each case with deductibles customarily carried by businesses of the size, character and creditworthiness of the business of the Credit Parties. (b) All insurance Borrower will, and will cause each of the other Credit Parties to, at all times keep its property which constitutes Collateral insured in favor of Agent, and all policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, insurance (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers Borrower or any Credit Party of its Subsidiaries shall fail to maintain insurance in accordance with this Section 6.4, or if Borrower or any of its Subsidiaries shall fail to so endorse all policies or certificates with respect thereto, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers Borrower (but shall be under no obligation), to procure such insurance and Borrowers agree Borrower agrees to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (d) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b6.4 (b) and (c) shall not apply to credit insurance. (e) Notwithstanding anything to the contrary contained in this Section 6.4, with respect to any Revolver Priority Collateral, the provisions of this Section 6.4 shall be subject to the terms and conditions of the Revolving Loan Credit Documents and the Intercreditor Agreement.

Insurance; Damage to or Destruction of Collateral. (a) Borrowers will, and will cause each of their respective Restricted Subsidiary Subsidiaries to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). The Borrowers will furnish to Agentthe Co-Collateral Agents, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed , including, without limitation, for any Mortgaged Property, Flood Insurance equal to be in compliance with this Section 6.4(athe least of (i) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as the full, unpaid balance of the date hereofLoans and any prior liens on the Mortgaged Property, (ii) the maximum amount of coverage available under the National Flood Insurance Program for the particular type of building or (iii) the full insurable value of the building and/or its contents, in each case with deductibles customarily carried by businesses of the size, character and creditworthiness of the business of the Credit Parties. (b) All insurance Borrowers will, and will cause each of the other Credit Parties to, at all times keep its property which constitutes Collateral insured in favor of Agent, and all policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, insurance (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers or any Credit Party of their respective Subsidiaries shall fail to maintain insurance in accordance with this Section 6.4, or if Borrowers or any of their respective Subsidiaries shall fail to so endorse all policies or certificates with respect thereto, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure such insurance and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (d) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b) and (c) shall not apply to credit insurance.

Insurance; Damage to or Destruction of Collateral. (a) Borrowers will, and will cause each Restricted Subsidiary to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). The Borrowers will furnish to Agent, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed , including, without limitation, for any Mortgaged Property located in a Special Flood Hazard Area, Flood Insurance equal to be in compliance with this Section 6.4(athe least of (i) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as the full, unpaid balance of the date hereofLoans and any prior liens on the Mortgaged Property, (ii) the maximum amount of coverage available under the National Flood Insurance Program for the particular type of building or (iii) the total replacement cost value of the improvements located thereon, in each case with deductibles customarily carried by businesses of the size, character and creditworthiness of the business of the Credit Parties. (b) All insurance Borrowers will, and will cause each Restricted Subsidiary to, at all times keep its property which constitutes Collateral insured, and all policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, insurance (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers or any Credit Party Restricted Subsidiary shall fail to maintain insurance in accordance with this Section 6.4, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure such insurance and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (d) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b) and (c) shall not apply to credit insurance.

Insurance; Damage to or Destruction of Collateral. (a) Borrowers will, and will cause each Restricted Subsidiary to, maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks, as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). Borrowers will furnish to Agent, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers shall be deemed to be in compliance with this Section 6.4(a) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as of the date hereof. (b) All insurance policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, (i) shall be endorsed to Agent’s reasonable satisfaction for the benefit of Agent (including, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state that such insurance policies shall not be canceled without at least thirty (30) days’ prior written notice thereof by the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers or any Credit Party shall fail to maintain insurance in accordance with this Section 6.4, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure such insurance and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses of procuring and maintaining such insurance. (d) Sections 6.4(b) and (c) shall only apply to insurance in respect of assets included in the Collateral; provided, however, Sections 6.4(b) and (c) shall not apply to credit insurance.

Insurance; Damage to or Destruction of Collateral. (a) Borrowers will, and will maintain or cause each Restricted Subsidiary to, maintain, to be maintained with financially sound and reputable insurers satisfying the criteria specified herein, public liability, property damage, business interruption and other types of insurance companies insurance with respect to the Contract Collateral against all losses, hazards, casualties, liabilities and contingencies as customarily carried or maintained by Persons of established reputation engaged in similar businesses and as Agent and/or Lenders shall reasonably require and in such amounts and against for such risks, periods as are customarily maintained by similarly situated companies engaged in the same or similar businesses operating in the same or similar locations (after giving effect to any self-insurance reasonable and customary for similarly situated companies). Borrowers will furnish to Agent, upon written request, information in reasonable detail as to the insurance so maintained. It is understood and agreed that Borrowers Agent and/or Lenders shall be deemed to be in compliance with this Section 6.4(a) so long as Borrowers and their Restricted Subsidiaries shall maintain all insurance in effect as of the date hereofreasonably require. (b) Each carrier providing any insurance, or portion thereof, required by this Section 5.5 shall be licensed to do business in the jurisdiction or jurisdictions in which any Contract Collateral is located, and shall have an A.M. Best rating of not less than A. (c) All insurance policies insuring the Collateral, or certificates (or certified copies thereof) with respect to such insurance, and renewals thereof (i) shall be endorsed in a form acceptable to Agent’s reasonable satisfaction for the benefit of Agent (includingand Lenders, without limitation, by naming Agent as loss payee and/or additional insured) and (ii) shall state provide for a term of not less than one year, (iii) shall provide by way of endorsement, rider or otherwise that such insurance policies policy shall not be canceled without at least thirty (30) days’ canceled, endorsed, altered, or reissued to effect a change in coverage unless such insurer shall have first given Agent 30 days prior written notice thereof thereof, (iv) shall provide for claims to be made on an occurrence basis, (v) shall include coverage for terrorism, if the cost of obtaining such coverage for any Contract Collateral will not increase by more than thirty percent (30%) the respective insurer to Agent (or at least ten (10) days’ prior written notice in the case of non-payment of premium); provided that Parent Borrower shall have 15 Business Days following the Restatement Date (or such later date as may be agreed by Agent in its Permitted Discretion) to comply with this Section 6.4(b) in respect of insurance in effect as of the Restatement Date. (c) If Borrowers or any Credit Party shall fail to maintain insurance in accordance with this Section 6.4, Agent shall have the right, upon ten (10) days’ prior notice to Borrowers (but shall be under no obligation), to procure renewal premium for such insurance for any Contract Collateral, as compared to the renewal premium for substantially identical insurance that does not provide terrorism coverage, and Borrowers agree to reimburse Agent for all reasonable costs and reasonable out-of-pocket expenses (vi) shall contain an agreed value clause updated annually (if the amount of procuring and maintaining coverage under such insurancepolicy is based upon the replacement cost of any Contract Collateral). All property damage insurance policies must automatically reinstate after each loss. (d) Sections 6.4(b) and (c) Borrowers shall only apply provide to insurance in respect Agent, at the request of assets included Agent or any Lenders, a summary report, in the Collateral; providedlevel of detail as Agent shall reasonably request, however, Sections 6.4(b) and (c) shall not apply with respect to credit insuranceall such insurance coverage.