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

Insurance; Damage to or Destruction of Collateral. The Company shall, and shall cause each of its Subsidiaries to, at its sole cost and expense, maintain the policies of insurance described on Schedule 2.7(b) in form and with insurers reasonably acceptable to the Required Holders. If the Company or any of its Subsidiaries at any time or times hereafter shall fail to obtain or maintain any of the policies of insurance required above or to pay all premiums relating thereto, the Collateral Agent may (at the direction of the Required Holders) at any time or times after ten days' written notice to the Company obtain and maintain such policies of insurance and pay such premiums and take any other action with respect thereto that the Required Holders deem advisable. By doing so, the Collateral Agent and the Holders shall not be deemed to have waived any Default or Event of Default arising from the Company's or any of its Subsidiaries' failure to maintain such insurance or pay any premiums therefor. Neither the Collateral Agent nor the Required Holders shall have any obligation to obtain insurance for the Company or any of its Subsidiaries or to pay any premiums therefor. All sums so disbursed, including reasonable attorneys' fees, court costs and other charges related thereto, shall be payable on demand by the Company to the Collateral Agent and shall be secured by the Collateral.

Insurance; Damage to or Destruction of Collateral. The Company shall, and shall cause each of its Subsidiaries to, at its sole cost and expense, maintain the policies of insurance described on Schedule 2.7(b) in form and with insurers reasonably acceptable to the Required Holders. If the Company or any of its Subsidiaries at any time or times hereafter shall fail to obtain or maintain any of the policies of insurance required above or to pay all premiums relating thereto, the Collateral Agent may (at the direction of the Required Holders) at any time or times after ten days' days written notice to the Company obtain and maintain such policies of insurance and pay such premiums and take any other action with respect thereto that which the Required Holders deem advisable. Neither the Collateral Agent nor the Required Holders shall have any obligation to obtain insurance for the Company or any of its Subsidiaries or pay any premiums therefor. By doing so, the Collateral Agent and the Holders shall not be deemed to have waived any Default or Event of Default arising from the Companyany Credit Party's or any of its Subsidiaries' failure to maintain such insurance or pay any premiums therefor. Neither the Collateral Agent nor the Required Holders shall have any obligation to obtain insurance for the Company or any of its Subsidiaries or to pay any premiums therefor. All sums so disbursed, including reasonable attorneys' fees, court costs and other charges related thereto, shall be payable on demand by the Company to the Collateral Agent and shall be secured by the Collateral. Following the Closing, the Company shall use its reasonable best efforts to obtain directors' and officers' insurance in amounts, scope and coverage customarily obtained by comparable businesses.

Insurance; Damage to or Destruction of Collateral. (a) The Company shall, and shall cause each of its Subsidiaries to, at its sole cost and expense, maintain the policies of insurance described on Schedule 2.7(b) in form and with insurers reasonably acceptable to the Required Holders. If the Company or any of its Subsidiaries at any time or times hereafter shall fail to obtain or maintain any of the policies of insurance required above or to pay all premiums relating thereto, the Collateral Agent may (at the direction of the Required Holders) may at any time or times after ten days' days written notice to the Company obtain and maintain such policies of insurance and pay such premiums and take any other action with respect thereto that which the Required Holders deem advisable. Neither the Collateral Agent nor the Required Holders shall have any obligation to obtain insurance for the Company or any of its Subsidiaries or pay any premiums therefor. By doing so, the Collateral Agent and the Holders shall not be deemed to have waived any Default or Event of Default arising from the Company's or any of its Subsidiaries' failure to maintain such insurance or pay any premiums therefor. Neither the Collateral Agent nor the Required Holders shall have any obligation to obtain insurance for the Company or any of its Subsidiaries or to pay any premiums therefor. All sums so disbursed, including reasonable attorneys' fees, court costs and other charges related thereto, shall be payable on demand by the Company to the Collateral Agent and shall be secured by the Collateral. (b) The Company shall at all times maintain, with financially sound and reputable insurers, "key man" term life insurance on the life of Mr. Carl Sahi in the amount of $______ in form reasonably satisfactorx xx xxx Xxxxers. Such "key man" term life insurance policy shall be owned by the Company and the Company shall be named as the payee of all benefits thereunder.

Insurance; Damage to or Destruction of Collateral. (a) The Company shall, and shall cause each of its Subsidiaries to, at its sole cost and expense, maintain the policies of insurance described on Schedule 2.7(b) in form and with insurers reasonably acceptable to the Required Holders. If the Company or any of its Subsidiaries at any time or times hereafter shall fail to obtain or maintain any of the policies of insurance required above or to pay all premiums relating thereto, the Collateral Agent may (at the direction of the Required Holders) may at any time or times after ten days' days written notice to the Company obtain and maintain such policies of insurance and pay such premiums and take any other action with respect thereto that which the Required Holders deem advisable. Neither the Collateral Agent nor the Required Holders shall have any obligation to obtain insurance for the Company or any of its Subsidiaries or pay any premiums therefor. By doing so, the Collateral Agent and the Holders shall not be deemed to have waived any Default or Event of Default arising 37 from the Company's or any of its Subsidiaries' failure to maintain such insurance or pay any premiums therefor. Neither the Collateral Agent nor the Required Holders shall have any obligation to obtain insurance for the Company or any of its Subsidiaries or to pay any premiums therefor. All sums so disbursed, including reasonable attorneys' fees, court costs and other charges related thereto, shall be payable on demand by the Company to the Collateral Agent and shall be secured by the Collateral. (b) The Company shall at all times maintain, with financially sound and reputable insurers, "key man" term life insurance on the life of Mr. Xxxx Xxxx xx the amount of $______ in form reasonably satisfactory to the Holders. Such "key man" term life insurance policy shall be owned by the Company and the Company shall be named as the payee of all benefits thereunder.