Common use of Maintenance of Certain Insurance Clause in Contracts

Maintenance of Certain Insurance. On the date hereof the Servicer shall obtain, and at all times thereafter during the term of its service as Servicer the Servicer shall maintain, in force an “errors and omissions” insurance policy in an amount not less than $1,000,000 naming the Lender as loss payee and with an insurance company reasonably acceptable to the Lender. The Servicer shall deliver a copy of the insurance policy required under this Section 6.16 to the Lender on the date hereof together with a certification from the applicable insurance company that such policy is in force on the date hereof. The Servicer shall prepare and present, on behalf of itself and the Lender, claims under any such policy in a timely fashion in accordance with the terms of such policy, and upon, the filing of any claim on any policy described in this Section, the Servicer shall promptly notify the Lender of such claim.

Maintenance of Certain Insurance. On the date hereof the Servicer shall obtain, and at all times thereafter during the term of its service as Servicer the Servicer shall maintain, in force an “errors a directors and omissions” officers liability insurance policy in an amount not less than $1,000,000 naming the Lender Collateral Agent as loss payee and with an insurance company reasonably acceptable to the LenderLenders. The Servicer shall deliver a copy of the insurance policy required under this Section 6.16 to the Lender Lenders on the date hereof together with a certification from the applicable insurance company that such policy is in force on the date hereof. The Servicer shall prepare and present, on behalf of itself and the LenderLenders, claims under any such policy in a timely fashion in accordance with the terms of such policy, and upon, the filing of any claim on any policy described in this Section, the Servicer shall promptly notify the Lender Lenders of such claim.

Maintenance of Certain Insurance. On the date hereof the Servicer shall obtain, and at all times thereafter during the term of its service as Servicer the Servicer shall maintain, in force an “errors a directors and omissions” officers liability insurance policy in an amount not less than $1,000,000 naming the Lender Collateral Agent as loss payee and with an insurance company reasonably acceptable to the LenderLenders. The Servicer shall deliver a copy of the insurance policy required under this Section 6.16 to the Lender Lenders on the date hereof together with a certification from the applicable insurance company that such policy is in force on the date hereof. The Servicer shall prepare and present, on behalf of itself and the LenderLenders, claims under any such policy in a timely fashion in accordance with the terms of such policy, and upon, the filing of any claim on any policy described in this Section, the Servicer shall promptly notify the Lender Lenders of such claim.