Requirements of Insurance Policies. (i) Acceptable Evidence of Insurance & Premiums: All insurance provided for in Section 5.1.1(a) shall be obtained under valid and enforceable policies (collectively, the “Policies” or in the singular, the “Policy”), and, to the extent not specified above, shall be subject to the approval of Agent as to deductibles, lender loss payees, loss payees, additional insureds, joint loss payee/beneficiary and insureds. Five (5) Business Days prior to the expiration dates of the Policies theretofore furnished to Agent, binding evidence of insurance evidencing the Policies and within twenty-five (25) days after commencement of the new or renewal Policy evidence satisfactory to Agent of payment of the premiums due thereunder (the “Insurance Premiums”), shall be delivered by Borrower to Agent in accordance with paragraph (v) below. “
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement (Empire State Realty Trust, Inc.), Loan Agreement (Empire State Realty Trust, Inc.)
