Common use of Requirements as to Insurance Policies Clause in Contracts

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;

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;

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 cancelled 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 first loss payee and as an additional insured; and (iii) Each property insurance policy required hereunder shall contain a standard lender's loss payable clause in favor favour 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;