Loss Payee; Additional Insured. (i) On or prior to the Effective Date, and at all times thereafter, Borrower will cause Agent to be named as (A) an additional insured on each liability policy required to be maintained pursuant to this Section 5.2, and (B) loss payee (which shall include, as applicable, identification as mortgagee) on each property and physical damage policy required to be maintained pursuant to this Section 5.2 for any Property Proceeds in excess of $10,000,000 arising from a single event or related series of events.
(ii) If (A) Agent receives Property Proceeds in its capacity as loss payee, (B) no Default or Event of Default exists at such time, and (C) such Property Proceeds are not required to be applied as a prepayment under the terms of this Agreement, Agent will remit such Property Proceeds to Borrower within fifteen days after receipt.
(iii) Agent shall, promptly after the Effective Date, deliver, to Borrower’s insurance broker for delivery to each insurer that provides a property or physical damage policy on which Agent is listed as loss payee, a revocable notice that such insurer may pay any Property Proceeds arising from a single event or related series of events that occurred prior to the date of this Agreement directly to Borrower; provided that (A) such notice may be revoked by Agent at any time when a Default or Event of Default exists or any such Property Proceeds would be required to be applied as a prepayment under the terms of this Agreement, and (B) any Property Proceeds payable under such policy after receipt by the insurer of written notice of such revocation shall be paid directly to Agent. If such Default or Event of Default is cured or waived, the foregoing arrangement may be restored with respect to future Property Proceeds.
(iv) All loss payee and additional insured endorsements must be in form and substance reasonably acceptable to Agent.
Loss Payee; Additional Insured. Borrower shall cause its policies of all such casualty insurance to contain standard lender loss payable provisions and additional insured clauses issued in favor of the Noteholders as the Noteholders' may request their interests to appear. Upon the request of a majority of the Noteholders, Borrower shall furnish to the Noteholders a certificate setting forth in reasonable detail the nature and extent of all insurance maintained by Borrower and any applicable Subsidiary. Prior to the Closing Date, Borrower shall cause each issuer of an insurance policy to provide the Noteholders with an endorsement (i) showing the Noteholders as a loss payee with respect to each policy of property or casualty insurance and naming the Noteholders as an additional insured with respect to each policy of liability insurance, (ii) providing that 30 days' notice will be given to the Noteholders prior to any cancellation of, or reduction or change in coverage provided by or other material modification to such policy and (iii) being reasonably acceptable in all other respects to the Noteholders. Borrower hereby appoints the Noteholders as its attorney-in-fact, exercisable at its option, to endorse any check which may be payable to Borrower in order to collect the proceeds of such insurance, and, to the extent such check is payable to a Subsidiary of Borrower, Borrower shall cause the appropriate person for such Subsidiary to appoint Noteholders as such Subsidiary's attorney-in-fact.
Loss Payee; Additional Insured. All property insurance policies required under this Lease shall name the Authority as loss payee. All liability and other insurance policies required under this Lease shall name the Authority as an additional insured. When the Authority is named as certificate holder, loss payee or additional insured under the insurance policies required under this Lease, it rity, a with an address of 000 Xxxxxxxx Xxxxx Xxxxx, Xxxxxx, Xxxxxxx 00000;
