Common use of Policy Cancellation and Change Clause in Contracts

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.

Appears in 2 contracts

Samples: Note Purchase Agreement (InfraREIT, Inc.), Note Purchase Agreement (InfraREIT, Inc.)

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Policy Cancellation and Change. All policies of insurance ------------------------------ required to be maintained pursuant to this Schedule 9.2 Section 2.9 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 PartyLessor, such cancellation or reduction shall not be effective as to the Secured Parties Lessor for thirty (30) 30 days, except for non-payment of premium which shall be for ten (10) 10 days, after receipt by the Purchaser Lessor of written notice from such insurer of such cancellation or reduction.

Appears in 2 contracts

Samples: Construction Agency Agreement (Hughes Supply Inc), Construction Agency Agreement (Hughes Supply Inc)

Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 9.2 Section 3.5(a) shall be endorsed so that if at any time should they are cancelledbe canceled, or their coverage is be reduced (by any party including the insured) so as to affect which affects the interests of the Collateral Agent and the Holders and any other Secured Financing Party, such cancellation or reduction shall not be effective as to the Secured Parties any Financing Party for thirty (30) 60 days, except for non-payment of premium which shall be for ten (10) 10 days, after receipt by the Purchaser Lessor and the Agent of written notice from such insurer of such cancellation or reduction.

Appears in 2 contracts

Samples: Agency Agreement (United Therapeutics Corp), Agency Agreement (Human Genome Sciences Inc)

Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 9.2 Section 2.9 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 PartyLessor, such cancellation or reduction shall not be effective as to the Secured Parties Lessor for thirty (30) 30 days, except for non-payment of premium which shall be for ten (10) 10 days, after receipt by the Purchaser Lessor of written notice from such insurer of such cancellation or reduction.

Appears in 2 contracts

Samples: Construction Agency Agreement (Checkfree Corp \Ga\), Construction Agency Agreement (Choicepoint Inc)

Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 9.2 8.05 shall be endorsed so that if at any time they are cancelledcanceled, 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 PartyLenders, such cancellation or reduction shall not be effective as to the Secured Parties Lenders for thirty (30) 60 days, except for non-payment of premium which shall be for ten (10) 10 days, after receipt by the Purchaser Agent of written notice from such insurer of such cancellation or reduction.

Appears in 1 contract

Samples: Credit Agreement (Cheniere Energy Inc)

Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 9.2 Section 2.9 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 Lessor, the Agent and the Holders and or any other Secured Party, Lender such cancellation or reduction shall not be effective as to the Secured Parties Lessor, the Agent or such Lender for thirty (30) 30 days, except for non-payment of premium which shall be for ten (10) 10 days, after receipt by the Purchaser of written notice from such insurer of such cancellation or reduction.

Appears in 1 contract

Samples: Construction Agency Agreement (Concord Efs Inc)

Policy Cancellation and Change. All policies of insurance ------------------------------ required to be maintained pursuant to this Schedule 9.2 Article XIII shall be endorsed ------------ so that if at any time they are cancelledcanceled, 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 PartyLessor, such cancellation or reduction shall not be effective as to the Secured Parties Lessor for thirty sixty (3060) days, except for non-payment of premium which shall be for ten (10) days, after receipt by the Purchaser Lessor of written notice from such insurer of such cancellation or reduction.

Appears in 1 contract

Samples: Lease Agreement (Palm Inc)

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Policy Cancellation and Change. All policies of insurance ------------------------------ required to be maintained pursuant to this Schedule 9.2 Article XIII shall be ------------ endorsed so that if at any time they are cancelledcanceled, 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 PartyLessor, such cancellation or reduction shall not be effective as to the Secured Parties Lessor for thirty sixty (3060) days, except for non-payment of premium which shall be for ten (10) days, after receipt by the Purchaser Lessor of written notice from such insurer of such cancellation or reduction.

Appears in 1 contract

Samples: Master Lease (Palm Inc)

Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 9.2 Section shall be endorsed so that if at any time they are cancelledcanceled, 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 PartyLender Parties, such cancellation or reduction shall not be effective as to the Secured Lender Parties for thirty (30) 60 days, except for non-payment of premium which shall be for ten (10) 10 days, after receipt by the Purchaser Administrative Agent of written notice from such insurer of such cancellation or reduction.

Appears in 1 contract

Samples: Credit Agreement (NiMin Energy Corp.)

Policy Cancellation and Change. All policies of insurance required to be maintained pursuant to this Schedule 9.2 Section 2.9 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 or any other Secured Party, Funding Party such cancellation or reduction shall not be effective as to the Secured Parties Agent or such Funding Party for thirty (30) 30 days, except for non-payment of premium which shall be for ten (10) 10 days, after receipt by the Purchaser of written notice from such insurer of such cancellation or reduction.

Appears in 1 contract

Samples: Construction Agency Agreement (Concord Efs Inc)

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