Common use of Insurance of Collateral; Condemnation Proceeds Clause in Contracts

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral in accordance with Section 10.1.8. From time to time upon request, the Borrowers shall provide Administrative Agent with reasonably detailed information as to the insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lenders. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicable; (ii) requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim with respect to Collateral, as long as the proceeds are used to repay the Loans. If an Event of Default exists only Administrative Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral in accordance with Section 10.1.8. From time to time upon request, the Borrowers Borrower shall provide Administrative Agent with reasonably detailed information as to the insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lenders. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicable; (ii) requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy; provided that, so long as no Event of Default has occurred and is then continuing, the Agent will provide any proceeds of such property insurance to the Borrower for application in accordance with Section 5.4. If any the Borrower fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers the Borrower therefor. While no Event of Default exists, Borrowers the Borrower may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used are, subject to repay the Loansterms of the Intercreditor Agreement, delivered to Agent. If an Event of Default exists exists, subject to the terms of the Intercreditor Agreement, only Administrative Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (adj) Each Obligor Borrower shall maintain insurance with respect to the Collateral and the Properties and businesses of the Company and its Subsidiaries, in each case, with financially sound and reputable insurance companies insurance on all such property and against all such risks as is consistent and in accordance with Section 10.1.8industry practice for companies similarly situated owning similar properties and engaged in similar businesses as the Borrowers. From time to time upon Agent’s reasonable request, the Borrowers shall provide Administrative promptly deliver to Agent with reasonably detailed information as to the certified copies of its insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lenderspolicies. Unless Administrative Agent shall agree otherwise, each policy shall include endorsements reasonably satisfactory endorsements to Agent (i) showing Administrative Agent as additional insured or lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicablepayee; (ii) to the extent available requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) to the extent available specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any insuranceinsurance required by this Section, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used delivered to repay Agent to the Loansextent required by Section 5.3.1(a). If an Event of Default exists exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims, in any case subject to the Intercreditor Agreement. (dk) Any proceeds of insurance (other than proceeds from workers’ compensation or D&O insurance or business interruption insurance) relating to any Collateral and any awards arising from condemnation of any Collateral shall be applied to the extent required by, and otherwise in accordance with, Section 5.3.1(a).

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral in accordance with Section 10.1.8. From time to time upon request, the Borrowers shall provide Administrative Agent with reasonably detailed information as to the insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lenders. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicable; (ii) requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used are, subject to repay the Loansterms of the Intercreditor Agreement, delivered to Administrative Agent. If an Event of Default exists exists, subject to the terms of the Intercreditor Agreement, only Administrative Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in accordance amounts, with Section 10.1.8endorsements and with insurers (with a Best’s Financial Strength Rating of at least A_ VII, unless otherwise approved by Agent) satisfactory to Agent. All proceeds under each policy shall be payable to Agent. From time to time upon request, Borrower Agent shall deliver to Agent the Borrowers shall provide Administrative Agent with reasonably detailed information as to the originals or certified copies of its insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lenderspolicies. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender first loss payee in (with respect of the to property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicableonly); (ii) requiring at least 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower Obligor fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Borrowers Obligors may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used delivered to repay the Loans. If an Event of Default exists only Administrative Agent shall be authorized to settle, adjust and compromise such claims.in accordance

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Holdings, Borrower and other Obligors shall maintain insurance with respect to the Collateral Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in accordance amounts, with Section 10.1.8endorsements and with insurers (with a Best Rating of at least A7, unless otherwise approved by Agent) satisfactory to Agent. From time to time upon request, Holdings and Borrower shall deliver to Agent the Borrowers shall provide Administrative Agent with reasonably detailed information as to the originals or certified copies of its or other Obligors’ insurance so carried; provided, that if Real Estate secures any Obligations at any time, policies and updated flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lendersplain searches. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicablepayee; (ii) requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Holdings, Borrower, other Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Holdings, Borrower or other Obligor fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers Borrower therefor. Holdings, Borrower and each other Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Borrowers Holdings, Borrower and other Obligors may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used deposited in the Dominion Account or otherwise delivered to repay the LoansAgent. If an Event of Default exists exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral and the Properties and businesses of the Obligors, in each case, with financially sound and reputable insurance companies insurance on all such property and against all such risks as is consistent and in accordance with Section 10.1.8industry practice for companies similarly situated owning similar properties and engaged in similar businesses as the Obligors. From time to time upon request, Obligors shall deliver to Agent the Borrowers shall provide Administrative Agent with reasonably detailed information as to the originals or certified copies of its insurance so carried; provided, that if Real Estate secures any Obligations at any time, policies and updated flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lendersplain searches. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender loss payee in respect of the property insurance policies relating to the Collateral and or additional insured in respect of the liability insurance policiesinsured, as applicable; (ii) to the extent available, requiring 30 days days’ prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) to the extent available, specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower Obligor fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Borrowers Obligors may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used delivered to repay Agent to the Loansextent required by this Agreement. If an Event of Default exists exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral Collateral, covering casualty, hazard, public liability, theft, malicious mischief, and such other risks, in accordance such amounts, with Section 10.1.8such endorsements, and with such insurers (rated A or better by A.M. Best Rating Guide) as are satisfactory to Agent. All proceeds under each policy shall be payable to Agent. From time to time upon request, the Borrowers shall provide Administrative deliver the originals or certified copies of its insurance policies to Agent with reasonably detailed information as to the insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all LendersControl Agent. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Control Agent as lender sole loss payee in respect of the property insurance policies relating to the Collateral and or additional insured in respect of the liability insurance policiesinsured, as applicableappropriate; (ii) requiring 30 days prior written notice to Administrative Control Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any such insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. Each Borrower agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds of Priority Collateral are used delivered to repay the LoansAgent. If an Event of Default exists exists, only Administrative Agent or Control Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral and the Properties and businesses of the Company and its Subsidiaries, in each case, with financially sound and reputable insurance companies insurance on all such property and against all such risks as is consistent and in accordance with Section 10.1.8industry practice for companies similarly situated owning similar properties and engaged in similar businesses as the Borrowers. From time to time upon Agent’s reasonable request, the Borrowers shall provide Administrative promptly deliver to Agent with reasonably detailed information as to the certified copies of its insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lenderspolicies. Unless Administrative Agent shall agree otherwise, each policy shall include endorsements reasonably satisfactory endorsements to Agent (i) showing Administrative Agent as additional insured or lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicablepayee; (ii) to the extent available requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) to the extent available specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any insuranceinsurance required by this Section, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used delivered to repay Agent to the Loansextent required by Section 5.3.1(a). If an Event of Default exists exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims, in any case subject to the Intercreditor Agreement.

Insurance of Collateral; Condemnation Proceeds. (a) dc. Each Obligor Borrower shall maintain insurance with respect to the Collateral and the Properties and businesses of the Company and its Subsidiaries, in each case, with financially sound and reputable insurance companies insurance on all such property and against all such risks as is consistent and in accordance with Section 10.1.8industry practice for companies similarly situated owning similar properties and engaged in similar businesses as the Borrowers. From time to time upon Agent’s reasonable request, the Borrowers shall provide Administrative promptly deliver to Agent with reasonably detailed information as to the certified copies of its insurance so carried; provided, that if Real Estate secures any Obligations at any time, flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lenderspolicies. Unless Administrative Agent shall agree otherwise, each policy shall include endorsements reasonably satisfactory endorsements to Agent (i) showing Administrative Agent as additional insured or lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicablepayee; (ii) to the extent available requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) to the extent available specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any insuranceinsurance required by this Section, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used delivered to repay Agent to the Loansextent required by Section 5.3.1(a). If an Event of Default exists exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims, in any case subject to the Intercreditor Agreement.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in accordance amounts, with endorsements and with insurers (with a Best Rating of at least A7, unless otherwise approved by Agent) satisfactory to Agent. Agent agrees that the insurance maintained by each Borrower on the Closing Date satisfies this Section 10.1.88.6.2. All proceeds under each policy shall be payable to Agent. From time to time upon request, the Borrowers shall provide Administrative promptly following request, deliver to Agent with reasonably detailed information as to the certified copies of its insurance so carried; provided, that if Real Estate secures any Obligations at any time, policies and updated flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lendersplain searches. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicablepayee; (ii) to the extent available requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) to the extent available specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. Each Borrower agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim with respect to Collateralclaim, as long as the proceeds are used delivered to repay the LoansAgent in accordance with Section 5.3.1(b). If an Event of Default exists exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in accordance amounts, with Section 10.1.8endorsements and with insurers (with a Best rating of at least A+, unless otherwise approved by Agent in its discretion) satisfactory to Agent. During the continuance of an Event of Default, all proceeds under each policy shall be payable to Agent. From time to time upon request, Borrower shall deliver to Agent the Borrowers shall provide Administrative Agent with reasonably detailed information as to the originals or certified copies of its insurance so carried; provided, that if Real Estate secures any Obligations at any time, policies and updated flood hazard diligence, documentation and insurance shall comply with all applicable Flood Laws or otherwise shall be reasonably satisfactory to all Lendersplain searches. Unless Administrative Agent shall agree otherwise, each policy shall include satisfactory endorsements (i) showing Administrative Agent as lender loss payee in respect of the property insurance policies relating to the Collateral and additional insured in respect of the liability insurance policies, as applicablepayee; (ii) requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to provide and pay for any insurance, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers Borrower therefor. Borrower agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Borrowers Borrower may settle, adjust or compromise any insurance claim with respect to Collateral, as long as the proceeds are used to repay the Loansclaim. If an Event of Default exists exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims.