Insurance in Effect Clause Samples

Insurance in Effect. All policies of title insurance, hazard ------------------- insurance, and flood insurance, if applicable, respecting the Loan or the Property for the Loan are in full force and effect, have been issued by sound and financially responsible insurance companies duly licensed and qualified to transact business in accordance with the specific requirements of Section 3 of this Agreement for hazard insurance, all such insurance coverage or insurers insure Seller, among others, as the owner of the Loan as loss payee thereunder and there are, to the best of Sellers knowledge, no facts or circumstances which could provide a basis for revocation of any of the polices or defense to any claim or claims made thereon.

Insurance in Effect. CBI's and City Bank's insurance policies are in full force and effect and cannot be canceled because of this Agreement, nor has CBI or City Bank received notice of cancellation of any such insurance policies.