Requirements of Insurance. With respect to the Loan Parties, and property constituting Collateral, all such insurance shall (i) endeavor to provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Collateral Agent of written notice thereof and (ii) name the Collateral Agent as mortgagee or lender loss payee, as applicable (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance).
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Samples: Credit Agreement (Merge Healthcare Inc), Credit Agreement (Merge Healthcare Inc), Credit Agreement (Merge Healthcare Inc)
Requirements of Insurance. With respect (i) Borrower will use its commercially reasonable efforts to the Loan Parties, and property constituting Collateral, cause all such insurance shall (i) endeavor to provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Collateral Agent of written notice thereof and (ii) Borrower shall cause all such insurance to name the Collateral Agent as mortgagee or lender loss payee, as applicable (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance) or additional loss payee (in the case of property insurance), as applicable.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Bankrate, Inc.), Revolving Credit Agreement (Bankrate, Inc.)
Requirements of Insurance. With respect to the Loan Parties, and property constituting Collateral, all All such insurance shall (i) endeavor to provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Collateral Agent Agents of written notice thereof and thereof, (ii) name the applicable Collateral Agent as mortgagee or lender loss payee, as applicable (in the case of property insurance) or additional insured on behalf of the applicable Secured Parties (in the case of liability insurance) or loss payee (in the case of property insurance), as applicable and be reasonably satisfactory in all other respects to the Collateral Agents.
Appears in 2 contracts
Samples: Credit Agreement (SGS International, Inc.), Credit Agreement (Southern Graphic Systems, Inc.)
Requirements of Insurance. With respect to the Loan Parties, and property constituting Collateral, all All such insurance shall (i) endeavor to provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Collateral Agent of written notice thereof and thereof, (ii) name the Collateral Agent as mortgagee or lender loss payee, as applicable (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance) or loss payee (in the case of property insurance), as applicable and (iii) be reasonably satisfactory in all other respects to the Collateral Agent.
Appears in 2 contracts
Samples: Credit Agreement (AGY Holding Corp.), Credit Agreement (USA Mobility, Inc)
Requirements of Insurance. With respect to the Loan Parties, and property constituting Collateral, all All such insurance shall shall, as appropriate, (i) endeavor to provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Collateral Agent of written notice thereof thereof, and (ii) name the Collateral Agent as mortgagee or lender loss payee, as applicable (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance) or loss payee (in the case of property insurance), as applicable.
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Requirements of Insurance. With respect to the Loan Parties, All such property and property constituting Collateral, all such general liability insurance shall (i) endeavor to provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Collateral Agent of written notice thereof and (ii) name the Collateral Agent as mortgagee or lender loss payee, as applicable payee (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of general liability insurance) or loss payee (in the case of property insurance), as applicable.
Appears in 1 contract
Samples: Credit Agreement (Bearingpoint Inc)
Requirements of Insurance. With respect to the Loan Parties, and property constituting Collateral, all All such insurance shall (i) endeavor to provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Collateral Agent of written notice thereof and thereof, (ii) name the Collateral Agent as mortgagee or lender loss payee, as applicable (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance) or loss payee (in the case of property insurance), as applicable, and (iii) if reasonably requested by the Collateral Agent, include a breach of warranty clause.
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