Other Lender Provisions in Policies. The Borrower shall include in each insurance policy required by this Article X provisions (a) that the policy be non‑cancellable except for non‑payment of premium, (b) that require the insurer to give at least ten (10) days’ notice to the Administrative Agent of a default in the payment of a premium when due and (c) in which the insurer waives all rights of subrogation it may have against the Borrower and any insured including any additional insured. In addition, the Borrower shall use commercially reasonable efforts to include in each insurance policy required pursuant to Section 1.1 of Schedule 10.02(a) (x) a standard mortgage clause (or similar clause) that insures (up to the limits of such policy) the interest of the Secured Parties regardless of any act or neglect, or error or omission of the Borrower or any breach or non‑fulfillment by the Borrower of any provision contained in such policy (other than non‑payment of premium) and (y) solely with respect to property policies, a requirement that the insurer settle within thirty (30) days of proof of loss.
Other Lender Provisions in Policies. The Partnership shall procure and shall cause its insurers and reinsurers to procure the inclusion in each insurance policy or reinsurance policy, as the case may be, issued to the Partnership or for the benefit of the Partnership provisions (a) that require the insurer or reinsurer to give at least 60 days' notice to the Collateral Trustee before the cancellation or non-renewal of any insurance policy takes effect or, if commercially available, 30 days', or if not so available, 15 days' notice in case of any cancellation or non-renewal due to non-payment of premiums, to the Collateral Trustee, (b) that require the insurer or reinsurer to give notice to the Collateral Trustee of a default by the Partnership in the payment of any premium when due for payment under such insurance or reinsurance policy, (c) that require the insurer or reinsurer to waive all rights of subrogation it may have against any insured and the respective directors, officers and employees of the insured, (d) that require the insurer or reinsurer to waive all rights of set-off in respect of recoveries due thereunder, (e) that require the insurer or reinsurer to waive any right to invalidate any policy based on any act or failure to act by any other insured (including without limitation the right to void coverage on the grounds of a breach of warranty by, or misrepresentation or omission of, the Partnership), except that such waiver shall apply only in respect of the Secured Parties' interest during the construction period, and (f) that ensure the severability of interests of the insureds, provided that the requirements set forth in this sentence in respect of reinsurers shall be subject to commercial availability and shall apply only if requested by the Bank Senior Lenders Administrative Agent or the Collateral Trustee.
Other Lender Provisions in Policies. The Partnership shall procure and shall cause its insurers and reinsurers to procure the inclusion in each insurance policy or reinsurance policy, as the case may be, issued to the Partnership or for the benefit of the Partnership provisions (a) that require the insurer or reinsurer to give at least 60 days' notice to the Collateral Trustee before the cancellation or non-renewal of any insurance policy takes effect or, if commercially available, 30 days', or if not so available, 15 days' notice in case of any cancellation or non-renewal due to non-payment of premiums, to the Collateral Trustee, (b) that require the insurer or reinsurer to give notice to the Collateral Trustee of a default by the Partnership in the payment of any premium when due for payment under such insurance or reinsurance policy, (c) that require the insurer or reinsurer to waive all rights of subrogation it may have against any insured and the respective directors, officers and employees of the insured, (d) that require the insurer or reinsurer to waive all rights of set-off in respect of recoveries due thereunder and (e) that ensure the severability of interests of the insureds, provided that the requirements set forth in this sentence in respect of reinsurers shall be subject to commercial availability and shall apply only if requested by the Applicable Agent or Applicable Agents or the Collateral Trustee.
