Common use of Procurement of Insurance by Trustee Clause in Contracts

Procurement of Insurance by Trustee. Without limiting the obligations of the Issuer or any Restricted Subsidiary hereunder, in the event the Issuer or any Restricted Subsidiary shall fail to maintain in full force and effect insurance as required by this Section 1007 and an Event of Default arises therefrom, then the Trustee, acting pursuant to instructions of Holders holding not less than 25% of the aggregate principal amount of Notes, upon receipt of adequate security or indemnity from such Holders, may, but shall have no obligation to, or Holders holding not less than 25% of the aggregate principal amount of Notes may themselves, in either case upon reasonable prior notice to the Issuer of an intention to do so, procure insurance covering the interests of the Holders in such amounts and against such risks as are required hereby, and the Issuer shall reimburse the Holders or the Trustee in respect of any premiums or other fees or expenses paid by the Holders or Trustee in respect thereof.

Procurement of Insurance by Trustee. Without limiting the obligations of the Issuer Holdings or any Restricted Subsidiary hereunder, in the event the Issuer Holdings or any Restricted Subsidiary shall fail to maintain in full force and effect insurance as required by this Section 1007 and an Event of Default arises therefrom, then the Trustee, acting pursuant to instructions of Holders holding not less than 25% of the aggregate principal amount of Notes, upon receipt of adequate security or indemnity from such Holders, may, but shall have no obligation to, or Holders holding not less than 25% of the aggregate principal amount of Notes may themselves, in either case upon reasonable prior notice to the Issuer of an intention to do so, procure insurance covering the interests of the Holders in such amounts and against such risks as are required hereby, and the Issuer shall reimburse the Holders or the Trustee in respect of any premiums or other fees or expenses paid by the Holders or the Trustee in respect thereof.