Common use of Merchant’s Casualty Insurance Clause in Contracts

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value thereof. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee (as its interest may appear). In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds of such insurance attributable to the Merchandise, plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an Expense), shall constitute Proceeds hereunder. Merchant shall deliver to Agent certificates evidencing such insurance, setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear), in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ prior notice to the Agent of cancellation, non-renewal or material change during the Sale Term. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s 's cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value Merchant's cost thereof. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee (as its interest may appear)payee. In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Merchandise plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an ExpenseMerchant), shall constitute Proceeds hereunderhereunder and shall be paid to Agent. In the event of such a loss Agent shall have the sole right to adjust the loss with the insurer. Prior to the Sale Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear)payee, in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s 's prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s 's cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail cost value thereof. EXHIBIT 12.2 attached hereto contains a description of all such policies. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee (as its interest may appear)payee. In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Merchandise plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an ExpenseMerchant), shall constitute Proceeds hereunderhereunder and shall be paid to Agent. In the event of such a loss payable to Agent, Agent shall have the sole right to adjust the loss with the insurer, but shall keep the Merchant informed as to its actions. Prior to the Sale Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear)payee, in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s 's prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout until the Sale Termend of the Marketing Period for all of the Properties, at Agent’s cost as an Occupancy Expense “Expense” hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise unsold Assets in a total amount equal to no less than the retail appraised value thereof. From and after the date of this Agreement until the Sale Termination Dateend of the Marketing Period for all of the Properties, all such policies will also name Agent as loss payee (as its interest may appear)payee. In the event of a loss to the Merchandise Assets on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Assets plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an ExpenseMerchant), shall constitute Comprehensive Sale Proceeds hereunder. In the event of such a loss Agent shall have the sole right to adjust the loss with the insurer. Within 10 days after the Closing Date, Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear)payee, in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date end of the Marketing Period for all of the Properties without Agent’s prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout ----------------------------- the Sale Term, at Agent’s 's cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail cost value thereof. Merchant has provided Agent with true and accurate copies of all such policies. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee (as its interest may appear)payee. In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Merchandise plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an ExpenseMerchant), shall constitute Proceeds hereunderhereunder and shall be paid to Agent. In the event of such a loss Agent shall have the sole right to adjust the loss with the insurer. Prior to the Sale Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear)payee, in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s 's prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s 's cost as an Occupancy Expense hereundera Sale Expense, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value Retail Price thereof. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee (as its interest may appear)payee. In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Merchandise plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an ExpenseMerchant), shall constitute Proceeds hereunderhereunder and shall be paid to Agent. In the event of such a loss Agent shall have the sole right to adjust the loss with the insurer. Prior to the Sale Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear)payee, in form and substance reasonably satisfactory to Agent. All such policies policies, shall require at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s 's prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout ----------------------------- the Sale Term, at Agent’s 's cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value thereof. Merchant has provided Agent with true and accurate copies of all such policies. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee (as its interest may appear)payee. In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Merchandise plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an ExpenseMerchant), shall constitute Proceeds hereunderhereunder and shall be paid to Agent. In the event of such a loss Agent shall have the sole right to adjust the loss with the insurer. Prior to the Sale Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear)payee, in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s 's prior written consent.

Merchant’s Casualty Insurance. Merchant will provide shall provide, as an Expense, throughout the Sale Term, at Agent’s cost as an Occupancy Expense hereunder, Term fire, flood, theft and extended coverage casualty insurance covering the Merchandise (and, if requested, at Agent’s expense not as an Expense hereunder, the Additional Agent Merchandise) in a total amount equal to no less than the retail value thereof. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Purchase and JV Agent as additional insureds or loss payee payees (as its interest may appear). In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds of such insurance attributable to the Merchandise, plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an Expense), Merchandise shall constitute Proceeds hereunderhereunder (net of any applicable deductible). Prior to the Sale Commencement Date, Merchant shall deliver to Purchaser and JV Agent certificates evidencing such insurance, setting forth the duration thereof and naming the Purchaser and JV Agent as additional insureds or loss payee payees (as its interest may appear), in form and substance reasonably satisfactory to Purchaser and JV Agent. All such policies shall require at least thirty (30) days’ prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self self-insurance amounts prior to the Sale Termination Date without Purchaser’s and JV Agent’s prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s 's cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value thereof. Exhibit 12.2 attached hereto contains a description of all such policies. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee (as its interest may appear)payee. In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Merchandise plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an ExpenseMerchant), shall constitute Proceeds hereunderhereunder and shall be paid to Agent. In the event of such a loss Agent shall have the sole right to adjust the loss with the Insurer. Prior to the Sale Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and naming the Agent as loss payee (as its interest may appear)payee, in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Termchange. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s 's prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value thereof. From and after Provided the date of this Agreement until the Sale Termination DateSecurity Conditions are satisfied, all such policies will also name Agent as loss payee (as its interest may appear). In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds proceeds of such insurance attributable to the Merchandise, Merchandise plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an Expense), shall constitute Proceeds hereunder. Merchant shall deliver to Agent certificates evidencing such insurance, insurance setting forth the duration thereof and and, if applicable hereunder, naming the Agent as loss payee (as its interest may appear), in form and substance reasonably satisfactory to Agent. All Merchant agrees to provide, and all such policies shall require provide that the insurer will endeavor to provide at least thirty (30) days’ days prior notice to the Agent of cancellation, non-renewal or material change during the Sale Term. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s cost as an Occupancy Expense hereunder, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value thereof. From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee an additional named insure (as its interest may appear). In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds of such insurance attributable to the Merchandise, plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an Expense), shall constitute Proceeds hereunder. Merchant shall deliver to Agent certificates evidencing such insurance, setting forth the duration thereof and naming the Agent as loss payee an additional insured (as its interest may appear), in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ prior notice to the Agent of cancellation, non-renewal or material change during the Sale Term. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s prior written consent.

Merchant’s Casualty Insurance. Merchant will provide throughout the Sale Term, at Agent’s cost as an Occupancy Expense hereunder, Term fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the retail value thereofthereof plus the retail value of Additional Goods (provided that, Agent shall be responsible for payment as an Expense hereunder of any incremental premium amounts allocable to the Additional Goods). From and after the date of this Agreement until the Sale Termination Date, all such policies will also name Agent as loss payee an additional named insured (as its interest may appear). In the event of a loss to the Merchandise on or after the date of this Agreement, the Proceeds of such insurance attributable to the Merchandise, plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an Expense), shall constitute Proceeds hereunder. In the event of a loss to the Additional Goods on or after the date of this Agreement, the proceeds of such insurance attributable to the Additional Goods, plus any self insurance amounts and the amount of any deductible or self-insured retention (which amounts shall be paid by Agent as an Expense), shall constitute property of Agent. Merchant shall deliver to Agent certificates evidencing such insurance, setting forth the duration thereof and naming the Agent as loss payee an additional insured (as its interest may appear), in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty (30) days’ prior notice to the Agent of cancellation, non-renewal or material change during the Sale Term. Merchant shall not make any change in the amount of any deductibles or self insurance amounts prior to the Sale Termination Date without Agent’s prior written consent.