Common use of Insurance of Collateral Clause in Contracts

Insurance of Collateral. Borrower or Guarantors shall maintain and pay for insurance upon all Collateral wherever located and with respect to Guarantors' business, covering casualty, hazard, public liability and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Guarantors shall deliver copies of such policies to Lender with satisfactory lender's loss payable endorsements, naming Lender as sole loss payee, assignee or additional insured, as deemed appropriate by Lender. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a BFU-438 or similar endorsement specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or Guarantors or the owner of the property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Guarantor fails to provide and pay for such insurance, Lender may, at its option, but shall not be required to, procure the same and charge Borrower therefor. Each Guarantor 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 or Guarantors shall agrees to maintain and pay for insurance upon all Collateral wherever located and with respect to Guarantors' businesslocated, in storage or in transit in vehicles, including goods evidenced by documents, covering casualty, hazard, public liability and such other risks and in such amounts and with such insurance companies as are shall be reasonably satisfactory to Lender to insure Lender's interests in the Collateral. Guarantors Borrower shall deliver the originals or copies of such policies to Lender with satisfactory lender's loss payable endorsements, endorsements naming Lender as sole loss payee, assignee or additional insured, as deemed appropriate by Lender. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 thirty (30) days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a BFU-438 or similar endorsement specifying clause that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or Guarantors or the owner of the property or Property nor by the occupation of the premises for purposes no more hazardous than are permitted by said policy. If any Guarantor Borrower fails to provide and pay for such insurance, Lender may, at its optionBorrower's expense, procure the same, but shall not be required to, procure the same and charge to do so. Borrower therefor. Each Guarantor agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies. Borrower will maintain, with financially sound and reputable insurers, insurance with respect to its Properties and business against such casualties and contingencies of such type (including public liability, product liability, larceny, embezzlement, or other criminal misappropriation insurance) and in such amounts as is customary in the business or as otherwise required by Lender.

Insurance of Collateral. Borrower or Guarantors Borrowers shall maintain and pay for insurance upon all Collateral wherever located and with respect to GuarantorsBorrowers' business, covering casualty, hazard, public liability and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Lender. Guarantors Borrowers shall deliver copies of such policies to Lender with satisfactory lender's loss payable endorsements, naming Lender as sole loss payee, assignee or additional insured, as deemed appropriate by Lender. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a BFU-438 or similar endorsement specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or Guarantors Borrowers or the owner of the property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Guarantor Borrower fails to provide and pay for such insurance, Lender may, at its option, but shall not be required to, procure the same and charge Borrower Borrowers therefor. Each Guarantor 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 or Guarantors shall agrees to maintain and pay for insurance upon all Collateral covered by Section 4.1 above wherever located and with respect to Guarantors' businesslocated, in storage or in transit in vehicles, including goods evidenced by documents, covering casualty, hazard, public liability and such other risks and in such amounts and with such insurance companies as are shall be reasonably satisfactory to Lender to insure Lender's interest in such Collateral. Guarantors Borrower shall deliver copies the originals of the certificates of insurance for such policies to Lender with satisfactory lender's loss payable endorsements, endorsements naming Lender as sole loss payee, assignee or additional insured, as deemed appropriate by Lender. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 thirty (30) days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a BFU-438 or similar endorsement specifying clause that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or Guarantors or the owner of the property or Property nor by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Guarantor Borrower fails to provide and pay for such insurance, Lender may, at its optionBorrower's expense, procure the same, but shall not be required to, procure the same and charge to do so. Borrower therefor. Each Guarantor agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies. Borrower will maintain, with financially sound and reputable insurers, insurance with respect to its Properties and business against such casualties and contingencies of such type (including public liability, larceny, embezzlement, or other criminal misappropriation insurance) and in such amounts as is customary in its business or as otherwise reasonably required by Lender.

Insurance of Collateral. Borrower or Guarantors shall agrees to maintain and pay for insurance upon all Collateral (other than Offshore Platforms) wherever located and with respect to Guarantors' businesslocated, in storage or in transit, including goods evidenced by documents, covering casualty, hazard, public liability and such other risks and in such amounts and with such insurance companies as are reasonably satisfactory acceptable to Lender. Guarantors Borrower shall deliver copies to Lender certificates regarding such insurance and the originals of such policies to Lender when available, with satisfactory lender's loss payable endorsements, endorsements naming Lender as sole loss payee, assignee payee or additional insured, co-insured and as deemed appropriate by Lendermortgagee pursuant to a standard mortgagee clause. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 thirty (30) days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a BFU-438 or similar endorsement specifying clause that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or Guarantors or the owner of the property or Property nor by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Guarantor Borrower fails to provide and pay for such insurance, Lender may, at its optionBorrower's expense, procure the same, but shall not be required to, procure the same and charge to do so. Borrower therefor. Each Guarantor agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies. Borrower will maintain, with financially sound and reputable insurers, insurance with respect to its Properties and business against such casualties and contingencies of such type (including public liability, product liability, larceny, embezzlement, or other criminal misappropriation insurance) and in such amounts as is customary in the business or as otherwise required by Lender.

Insurance of Collateral. Borrower or Guarantors shall maintain and pay for insurance upon all ixxxxxxxx xxxx xll Collateral wherever located and with respect to Guarantors' 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. Guarantors Borrower shall deliver the originals or certified copies of such policies to Lender with satisfactory lender's loss payable endorsements, naming which policies shall name Lender as sole loss payee, assignee or additional insured, as deemed appropriate by Lenderappropriate. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a BFU-438 or similar endorsement clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or Guarantors or the owner of the property Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Guarantor Borrower fails to provide and pay for such insurance, Lender may, at its option, but shall not be required to, procure the same and charge Borrower therefor. Each Guarantor Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.