Requirements as to Insurance Policies Sample Clauses

Requirements as to Insurance Policies. The policies of insurance which Borrower is required to carry shall comply with the requirements listed below: (i) Each such policy shall provide that it may not be canceled or allowed to lapse at the end of a policy period without at least 30 days' prior written notice to DFS; (ii) Each liability and hazard insurance policy shall name DFS as an additional insured; and (iii) Each property insurance policy required hereunder shall contain a standard lender's loss payable clause in favor of DFS. Such insurance policies shall also contain lender's loss payable endorsements satisfactory to DFS providing, among other things, that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of Borrower which might otherwise result in forfeiture of such insurance;
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Requirements as to Insurance Policies. The policies of insurance which the Borrower is required to carry pursuant to the provisions of Section 6.2(a) shall comply with the requirements listed below: (i) Each such policy shall provide that it may not be cancelled or allowed to lapse at the end of a policy period without at least 30 days' prior written notice to the Lender; (ii) Each liability and hazard insurance policy shall name the Lender as an additional insured; and (iii) Each insurance policy required under Section 6.2 (a) shall contain a standard lender's loss payable clause in favor of the Lender. Such insurance policies shall also contain lender's loss payable endorsements satisfactory to the Lender providing, among other things, that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of the Borrower which might otherwise result in forfeiture of such insurance.
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Requirements as to Insurance Policies. The policies of insurance which Baldxxx xx required to carry shall comply with the requirements listed below: (1) Each such policy shall provide that it may not be canceled or allowed to lapse at the end of a policy period without at least thirty (30) days' prior written notice to Agent; (2) Each liability and hazard insurance policy shall name Agent as an additional insured; and (3) Each property insurance policy required hereunder shall contain a standard lender's loss payable clause in favor of Agent. Such insurance policies shall also contain lender's loss payable endorsements satisfactory to Agent providing, among other things, that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of Baldxxx xxxch might otherwise result in forfeiture of such insurance;
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Requirements as to Insurance Policies. The policies of insurance which Borrower is required to carry shall comply with the requirements listed below: (i) Each such policy shall provide that it may not be canceled or allowed to lapse at the end of a policy period without at least 30 days' prior written notice to Agent; (ii) Each liability and hazard insurance policy shall name Agent as an additional insured, for the benefit of the Lenders; and (iii) Each property insurance policy required hereunder shall contain a standard lender's loss payable clause in favor of Agent. Such insurance policies shall also contain lender's loss payable endorsements satisfactory to Agent providing, among other things, that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of Borrower which might otherwise result in forfeiture of such insurance.
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Requirements as to Insurance Policies. The policies of insurance which Borrower is required to carry shall comply with the requirements listed below: (i) Each such policy shall provide that it may not be canceled or allowed to lapse at the end of a policy period without at least 30 days' prior written notice to Administrative Agent; (ii) Each liability and hazard insurance policy shall name Administrative Agent as an additional insured for the benefit of the Lenders; and (iii) Each property insurance policy required hereunder shall contain a standard lender's loss payable clause in favor of Administrative Agent for the benefit of the Lenders. Such insurance policies shall also contain lender's loss payable endorsements satisfactory to Administrative Agent providing, among other things, that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of Borrower which might otherwise result in forfeiture of such insurance;
Sample 1
Requirements as to Insurance Policies. The policies of insurance which Borrower is required to carry shall comply with the requirements listed below: (a) Each such policy shall provide that it may not be canceled or allowed to lapse at the end of a policy period without at least 30 days' prior written notice to DFS; (b) Each property insurance policy shall contain lender's loss payable endorsements satisfactory to DFS providing, among other things, that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of Borrower which might otherwise result in forfeiture of such insurance and shall also be evidenced by an Accord 27 Evidence of Property Insurance;
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Requirements as to Insurance Policies. The policies of insurance which the Borrower is required to carry pursuant to the provisions of subsection (a) of this Section 3.7 shall comply with the requirements listed below: (i) Each such policy shall provide that it may not be canceled, modified or allowed to lapse at the end of a policy period without at least thirty (30) days' prior written notice to the Bank. (ii) Each liability insurance policy shall name the Bank as an additional insured. (iii) Each property insurance policy shall contain a standard mortgagee clause in favor of the Bank. The property insurance policies shall also provide that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of the Borrower which might otherwise result in forfeiture of such insurance and that the insurer waives all rights of set-off, counterclaim, deduction or subrogation against the Borrower. (iv) Each insurance policy shall be written by an insurer with a Best Rating Guide rating of BB+ and otherwise acceptable to the Bank. The Bank may withdraw approval of any insurer should a situation arise in which the financial soundness of such insurer may reasonably be questioned, in which event the Borrower shall immediately obtain replacement insurance written by an insurer approved by the Bank. (v) In the event of loss, the Borrower shall use the Borrower's best efforts to collect the maximum amount due under any policy of insurance of which the Borrower is the beneficiary. However, the Bank or the Trustees are authorized, in their discretion, to adjust, collect or compromise all claims under any policies of insurance required to be maintained by the provisions of this Section 3.7 and to execute and deliver on behalf of the Borrower all necessary proofs of loss, receipts, vouchers and releases required by the insurers. Each insurer is hereby authorized and directed to make payment under such policies directly to the Bank, instead of to the Bank and the Borrower jointly, and the Borrower hereby irrevocably appoints the Bank as the Borrower's attorney-in-fact to endorse and transfer such proceeds if any insurer fails to disburse directly to Bank. Any insurance proceeds from damage to or destruction of the Project received by the Bank shall be held in a interest-bearing account for the benefit of the Borrower until disbursed in the manner provided in Article IV. (vi) The following types of insurance or insurance policies will not be acceptable to the Bank unless the Borrower ...
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Requirements as to Insurance Policies. The policies of insurance which Dealer is required to carry shall comply with the requirements listed below: (i) Each such policy shall provide that it may not be canceled or allowed to lapse at the end of a policy period without at least 30 days' prior written notice to DFS; (ii) Each liability and hazard insurance policy shall name DFS as an additional insured; and (iii) Each property insurance policy required hereunder shall contain a standard lender's loss payable clause in favor of DFS. Such insurance policies shall also contain lender's loss payable endorsements satisfactory to DFS providing, among other things, that any loss shall be payable in accordance with the terms of such policy notwithstanding any act of Dealer which might otherwise result in forfeiture of such insurance.
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Related to Requirements as to Insurance Policies

  • Existence; Compliance with Legal Requirements; Insurance Each Borrower and Operating Lessee shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its Entity existence, rights, licenses, Permits and franchises necessary for the conduct of its business and to comply or to initiate compliance in all material respects with all applicable Legal Requirements and Insurance Requirements applicable to it and each Individual Property. Each Borrower and Operating Lessee shall notify Lender promptly of any written notice or order that such Borrower or Operating Lessee receives from any Governmental Authority relating to such Borrower’s or Operating Lessee’s failure to comply with such applicable Legal Requirements relating to such Borrower’s or Operating Lessee’s applicable Individual Property and promptly take any and all actions necessary to bring its operations at such Individual Property into compliance with such applicable Legal Requirements (and shall fully comply with the requirements of such Legal Requirements that at any time are applicable to its operations at any Individual Property) provided, that such Borrower or Operating Lessee at its expense may, after prior notice to the Lender, contest by appropriate legal, administrative or other proceedings conducted in good faith and with due diligence, the validity or application, in whole or in part, of any such applicable Legal Requirements as long as (i) neither the applicable Collateral nor any part thereof or any interest therein, will be sold, forfeited or lost or subject to a continuing Lien if such Borrower or Operating Lessee pays the amount or satisfies the condition being contested, and such Borrower or Operating Lessee would have the opportunity to do so, in the event of such Borrower’s or Operating Lessee’s failure to prevail in the contest, (ii) Lender would not, by virtue of such permitted contest, be exposed to any risk of any civil liability or criminal liability, and (iii) such Borrower or Operating Lessee shall have furnished to the Lender additional security in respect of the claim being contested or the loss or damage that may result from such Borrower’s or Operating Lessee’s failure to prevail in such contest in such amount as may be reasonably requested by Lender but in no event less than one hundred twenty-five percent (125%) of the amount of such claim. Each Borrower and Operating Lessee shall at all times maintain, preserve and protect, or cause the maintenance, preservation and protection of, all franchises and trade names and preserve or cause the preservation of all the remainder of its property necessary for the continued conduct of its business and keep the applicable Individual Properties, or cause the same to be kept, in good repair, working order and condition, except for reasonable wear and use, and from time to time make, or cause to be made, all necessary repairs, renewals, replacements, betterments and improvements thereto, all as more fully provided in the Mortgages. Borrowers and Operating Lessee shall keep their Individual Properties insured at all times, as provided in the Mortgages.

  • Requirements of Insurance All such insurance shall (i) provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 10 days (or, to the extent reasonably available, 30 days) after receipt by the Collateral Agent of written notice thereof (the Borrower shall deliver a copy of the policy (and to the extent any such policy is cancelled or renewed, a renewal or replacement policy) or other evidence thereof to the Administrative Agent and the Collateral Agent, or insurance certificate with respect thereto) and (ii) name the Collateral Agent as loss payee (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance) (it being understood that, absent an Event of Default, any proceeds of any such property insurance shall be delivered by the insurer(s) to the Borrower or one of its Subsidiaries and applied in accordance with this Agreement), as applicable.

  • Conditions Applicable to Insurance All policies of insurance required by this solicitation or any Contract resulting from this solicitation must meet the following requirements:

  • Compliance With Insurance Requirements Borrower will comply with all Insurance requirements and will not permit any condition to exist on the Mortgaged Property that would invalidate any part of any Insurance coverage required under this Loan Agreement.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • General Conditions Applicable to Insurance All policies of insurance required by this section shall comply with the following requirements:

  • Compliance with Laws and Policies In carrying out the terms of this Agreement, both Parties shall comply with all applicable federal, state and local laws, regulations and rules, DSRIP Requirements, and the CNYCC Compliance Program.

  • R&W Insurance Policy (a) Buyers have negotiated the R&W Insurance Policy. Immediately following the execution and delivery of this Agreement, Buyers shall bind coverage in respect of the R&W Insurance Policy to incept as of the execution and delivery of this Agreement and shall timely pay that portion of any premium and underwriting fee, in each case then due and payable, to the R&W Insurer to bind and incept coverage under the R&W Insurance Policy. Buyers shall take commercially reasonable action to pay the R&W Insurer the remainder of premium and all other costs required for issuance of the R&W Insurance Policy when due. Buyers shall take commercially reasonable action to execute and cause to be executed and delivered all documents attached to the R&W Insurance Policy or as otherwise may be required by the R&W Insurer in connection with: (a) binding coverage under the terms of the R&W Insurance Policy on the date of this Agreement and (b) issuing the final R&W Insurance Policy. The R&W Insurance Policy shall include a provision whereby insurer expressly irrevocably waives, and agrees not to pursue, directly or indirectly, any subrogation rights against the Sellers or any of their Affiliates or representatives with respect to any claim made by any insured thereunder unless such claims were the result of fraud prior to the Closing by any Seller or any of its Affiliates or representatives. The Sellers shall use commercially reasonable efforts to assist and cooperate with the Buyers in connection with any claim by any Buyer under, or recovery by any Buyer with respect to, the R&W Insurance Policy. Buyers shall not take affirmative action to amend the subrogation or third party beneficiary provisions contained in such R&W Insurance Policy benefiting any Seller without the consent of such Seller. (b) Notwithstanding any other provision of this Agreement, the Sellers, jointly and severally, shall reimburse and indemnify Buyers and their respective Affiliates, directors, officers, managers, members, employees and agents for any and all loss, liability, demand, claim of any kind, action, cause of action, cost, damage, fee, deficiency, tax, penalty, fine, assessment, interest or expense (including attorney’s fees, consultant fees, expert fees and any other reasonable fees including the reasonable fees, costs, charges and expenses of attorneys, accountants, brokers, consultants and/or other experts and/or other professionals in each case at their then-prevailing rates) arising out of or resulting from a breach of the representations and warranties in Article III of this Agreement up to an aggregate amount not to exceed $3,300,000.00 (being an amount representing one-half of the initial retention amount under the R&W Insurance Policy). Sellers’ obligation in this Section 10.23(b) shall remain in full force and effect until the latest of 45 days after the expiration of the R&W Insurance Policy, 60 days after all pending claims under the R&W Insurance Policy are fully and finally resolved, or the satisfaction in full of all outstanding obligations of the Sellers under this Section 10.23(b).

  • Review of insurance requirements The Security Trustee shall be entitled to review the requirements of this Clause 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Majority Lenders, significant and capable of affecting the Owners or the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall: (a) except policies in evidence of insurance required under Section 11.02(b), name or be endorsed to cover NYSERDA, the State of New York and the Contractor as additional insureds; (b) provide that such policy may not be cancelled or modified until at least 30 days after receipt by NYSERDA of written notice thereof; and (c) be reasonably satisfactory to NYSERDA in all other respects.

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