Common use of Insurance of Collateral Clause in Contracts

Insurance of Collateral. Borrower shall maintain and pay for credit insurance upon Eligible Extended Term Accounts and insurance upon all Collateral wherever located and with respect to Borrower’s business, covering casualty, hazard, public liability and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Borrower shall deliver the originals of such policies to Lender with satisfactory lender’s loss payable endorsements, naming Lender as sole loss payee, assignee or additional insured, as appropriate. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than thirty (30) days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or the owner of the Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance (including, without limitation, the credit insurance), Lender may, at its option, but shall not be required to, procure the same and charge Borrower therefor. Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower shall maintain and pay for credit insurance upon Eligible Extended Term Accounts and insurance upon all Collateral wherever located and with respect to Borrower’s 's business, covering casualty, hazard, public liability liability, and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Borrower shall deliver the originals of such policies to Lender with 438 BFU lender's loss payable endorsements or other satisfactory lender’s 's loss payable endorsements, naming Lender as sole loss payee, assignee or payee and additional insured, as appropriate. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than thirty (30) days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or the owner of the Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance (including, without limitation, the credit insurance), Lender may, at its option, but shall not be required to, procure the same and charge Borrower therefor. Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower shall maintain and pay for credit insurance upon Eligible Extended Term Accounts and insurance upon all Collateral wherever located and with respect to Borrower’s 's business, covering casualty, hazard, public liability liability, and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Borrower shall deliver the originals certified copies of such policies to Lender with 438 BFU lender's loss payable endorsements or other satisfactory lender’s 's loss payable endorsements, naming Lender as sole loss payee, assignee assignee, or additional insured, as appropriate. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than thirty (30) 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or the owner of the Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance (including, without limitation, the credit insurance), Lender may, at its option, but shall not be required to, procure the same and charge Borrower therefor. Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower shall maintain and pay for credit insurance upon Eligible Extended Term Accounts and insurance upon all Collateral wherever located and with respect to Borrower’s 's business, covering casualty, hazard, public liability liability, flood and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Borrower shall deliver the originals of such policies to Lender with satisfactory lender’s 's loss payable endorsements, naming Lender as sole lender loss payee, assignee or assignee, mortgagee and/or additional insured, as appropriateappropriate and providing that all such insurance proceeds are paid to Lender. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than thirty (30) 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or the owner of the Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance (includinginsurance, without limitation, the credit insurance)and after written demand from Lender to do so, Lender may, at its option, but shall not be required to, procure the same and charge Borrower therefor. Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower Borrowers shall maintain and pay for credit insurance upon Eligible Extended Term Accounts and insurance upon all Collateral wherever located and with respect to each Borrower’s 's business, covering casualty, hazard, public liability liability, flood and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Borrower Borrowers shall deliver the originals of such policies to Lender with satisfactory lender’s 's loss payable endorsements, naming Lender as sole lender loss payee, assignee or assignee, mortgagee and/or additional insured, as appropriateappropriate and providing that all such insurance proceeds are paid to Lender. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than thirty (30) 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of either Borrower or the owner of the Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails Borrowers fail to provide and pay for such insurance (including, without limitation, the credit insurance), Lender may, at its option, but shall not be required to, procure the same and charge Borrower Borrowers therefor. Borrower agrees Borrowers agree to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower Borrowers shall maintain and pay for credit insurance upon Eligible Extended Term Accounts and insurance upon all Collateral wherever located and with respect to Borrower’s Borrowers' business, covering casualty, hazard, public liability liability, flood and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Borrower Borrowers shall deliver the originals copies of such policies to Lender with satisfactory mortgagee and lender’s 's loss payable endorsements, naming Lender as sole lender loss payee, assignee or assignee, mortgagee and/or additional insured, as appropriateappropriate and providing that all such insurance proceeds are paid to Lender. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than thirty (30) 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of any Borrower or the owner of the Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails Borrowers fail to provide and pay for such insurance (including, without limitation, the credit insurance), Lender may, at its option, but shall not be required to, procure the same and charge Borrower Borrowers therefor. Borrower agrees Borrowers agree to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.