Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Attachment O shall be endorsed so that if at any time they are canceled, or their coverage is reduced (by any party including the insured) so as to affect the interests of Owner or Lender, such cancellation or reduction shall not be effective as to Owner or Lender for sixty (60) Days after receipt by Owner and Lender of written notice from such insurer of such cancellation or reduction, provided that (i) cancellation or reduction for marine cargo war risk shall not be effective for seven (7) Days after receipt by Owner and Lender of written notice from such insurer of such cancellation or reduction and (ii) for non-payment of premium, cancellation or reduction shall not be effective for ten (10) Days after receipt by Owner and Lender of written notice from such insurer of such cancellation or reduction.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 9.2 shall be endorsed so that if at any time they are cancelled, or their coverage is reduced (by any party including the insured) so as to affect the interests of the Collateral Agent and the Holders and any other Secured Party, such cancellation or reduction shall not be effective as to the Secured Parties for thirty (30) days, except for non-payment of premium which shall be for ten (10) days, after receipt by the Purchaser of written notice from such insurer of such cancellation or reduction.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Exhibit D shall be endorsed so that if at any time they are canceled, or their coverage is reduced (by any party including the insured) so as to affect the interests of the Collateral Agent, the Holders and any other Secured Party, such cancellation or reduction shall not be effective as to the Secured Parties for thirty (30) days, except for non-payment of premium which shall be for ten (10) days, after receipt by the Collateral Agent and the Secured Parties of written notice from such insurer of such cancellation or reduction.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 6.05 shall be endorsed so that if at any time should they be canceled, or coverage be reduced (by any party including the insured) which affects the interests of OPIC, such cancellation or reduction shall not be effective as to OPIC for sixty (60) days, except for non-payment of premium which shall be for ten (10) days, after receipt by OPIC of written notice from such insurer of such cancellation or reduction.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Section shall be endorsed so that if at any time they are canceled, or their coverage is reduced (by any party including the insured) so as to affect the interests of the TCW, such cancellation or reduction shall not be effective as to TCW for 60 days, except for non-payment of premium which shall be for 10 days, after receipt by TCW of written notice from such insurer of such cancellation or reduction.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 2.6(g) shall be endorsed so that if at any time should they be canceled, or coverage be reduced (by any party including the
Policy Cancellation and Change. All policies of insurance or reinsurance required to be maintained pursuant to this Schedule 8 shall be endorsed so that if at any time they are canceled (by any party including the insured) so as to affect the interests of the Finance Parties, such cancellation shall not be effective as to the Finance Parties for 60 days except for non-payment of premium which shall be for 10 days, after notification to the Facility Agent of written notice from such insurer of such cancellation or reduction. Where it is impossible for the Borrower to obtain agreement from insurers for such notice, an agreement with its insurance broker to provide the notice will be acceptable.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Appendix A (other than the builders all risk policy which shall be non-cancellable except for non-payment of premium) shall provide that if at any time they should be canceled, such cancellation shall not be effective as to the Secured Parties for sixty (60) days, except for non-payment of premium which shall be for ten (10) days, after receipt by the Administrative Agent and the Collateral Agent of written notice from such insurer (or the Borrower’s insurance broker) of such cancellation. Such policy provisions shall also provide that in the event the Borrower fails to pay the premium, the Collateral Agent and the Administrative Agent shall have the right (but not the obligation) to pay the premium and continue coverage. The Borrower shall provide prompt notice to the Administrative Agent in the event that any insurer suspension right is exercised and will not operate the Project in conflict with the suspension clause. The Borrower shall promptly notify the Administrative Agent of each written notice received by it with respect to the cancellation of, material adverse change in, or default under any insurance policy required to be maintained in accordance with this Appendix A. It is hereby understood and agreed that for purposes of this section “material adverse change” and “default” shall mean any change that would reduce or alter coverage provided under the Borrower’s insurance policies in such a way that the terms and conditions no longer meet the requirements of this Appendix A and any event or circumstance that would allow the Borrower’s insurers to terminate or void coverage, respectively.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Tank Contract shall be endorsed so that if at any time they are canceled, or their coverage is reduced (by any party including the insured) so as to affect the interests of PURCHASER Group, such cancellation or reduction shall not be effective as to PURCHASER Group for sixty (60) Days after receipt by PURCHASER Group of written notice from such insurer of such cancellation or reduction.
Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 5 shall be endorsed so that if at any time should they be canceled, or coverage be reduced (by any party including the insured) which affects the interests of the Secured Parties, such cancellation or reduction shall not be effective as to the Secured Parties for 60 days, except for non-payment of premium which shall be for 10 days, after receipt by the Collateral Agent of written notice from such insurer of such cancellation or reduction.
