Right to Purchase Insurance. In the event Borrower fails to provide Administrative Agent with evidence of the insurance coverage required by this Agreement within three (3) Business Days after request therefor, Administrative Agent may after 20 days notice to Borrower, purchase insurance at Borrower’s expense to protect Administrative Agent’s interests in the Collateral. This insurance may, but need not, protect Borrower’s interests. The coverage purchased by Administrative Agent may not pay any claim made by Borrower or any claim that is made against Borrower in connection with the Collateral. Borrower may later cancel any insurance purchased by Administrative Agent, but only after providing Administrative Agent with evidence that Borrower has obtained insurance as required by this Agreement. If Administrative Agent purchases insurance for the Collateral, Borrower will be responsible for the costs of that insurance to the fullest extent provided by Law including interest and other charges imposed by Administrative Agent in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to the Obligations. The costs of the insurance may be more than the cost of insurance Borrower is able to obtain on its own.
Right to Purchase Insurance. In the event the Borrower fails to provide the Administrative Agent with evidence of the insurance coverage required by this Agreement within three (3) Business Days after request therefor, the Administrative Agent may after twenty (20) days’ notice to the Borrower, purchase insurance at the Borrower’s expense to protect the Administrative Agent’s interests in the Collateral. This insurance may, but need not, protect the Borrower’s interests. The coverage purchased by the Administrative Agent may not pay any claim made by the Borrower or any claim that is made against the Borrower in connection with the Collateral. The Borrower may later cancel any insurance purchased by the Administrative Agent, but only after providing the Administrative Agent with evidence that the Borrower has obtained insurance as required by this Agreement. If the Administrative Agent purchases insurance for the Collateral, the Borrower will be responsible for the costs of that insurance to the fullest extent provided by Law, including interest and other charges imposed by the Administrative Agent in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to the DIP Obligations. The costs of the insurance may be more than the cost of insurance that the Borrower is able to obtain on its own.
Right to Purchase Insurance. In the event any Credit Party fails to provide the Agent with evidence of the insurance coverage required by this Agreement within five (5) Business Days of receiving a written request thereof from the Agent, the Agent may purchase insurance at the Issuer’s expense to protect the Secured Parties’ interests in the Collateral. This insurance may, but need not, protect any Credit Party’s interests. The coverage purchased by the Agent may not pay any claim made by a Credit Party or any claim that is made against a Credit Party in connection with the Collateral. The Issuer may later cancel any insurance purchased by the Agent, but only after providing the Agent with evidence that Credit Parties have obtained insurance as required by this Agreement. If the Agent purchases such insurance for the Collateral, Credit Parties will be responsible for the costs of that insurance to the fullest extent provided by Law including interest and other charges imposed by the Agent in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. The costs of such insurance may be added to the Obligations. The costs of such insurance may be more than the cost of insurance that Credit Parties are able to obtain on their own.
Right to Purchase Insurance. If at any time Delta shall fail to obtain or maintain or cause to be obtained or maintained in effect the insurance required under this Article 20 or to pay the premiums for any such insurance, then IAT in addition to any other right or remedy of IAT under this Agreement or applicable Law, shall have the right, but not the obligation, after giving not less than 10 days’ prior written notice to Delta, to provide for such insurance and/or pay the premiums therefor. Within 30 days after demand, Delta shall pay to IAT any amount paid by IAT to provide for such insurance and/or pay such premiums (including reasonable attorneys’ fees incurred in connection therewith), together with interest thereon (from the time paid by IAT to the time repaid by IAT) at the rate per annum equal to the Prime Rate plus 2% or the highest rate permitted under applicable Law (whichever is lower). Any such payment to be made by Delta to IAT shall be deemed Additional Rent. Nothing in this Section 20.10 shall be deemed to release or relieve Delta from any of its obligations hereunder, or to obligate IAT to provide any insurance or to pay any premium that Delta is required to provide or pay under this Article 20.
Right to Purchase Insurance. Unless Borrower provides the Noteholders with evidence of the continuing insurance coverage required by this Agreement upon the request of a majority of the Noteholders, the Noteholders may purchase insurance at Borrower's expense to protect the Noteholders' interest in the Collateral. This insurance may, but need not, protect Borrower's and any Subsidiary's interests. The coverage that the Noteholders purchase may, but need not, pay any claim that is made against Borrower or any Subsidiary in connection with the Collateral. Borrower may later cancel any insurance purchased by the Noteholders, but only after providing the Noteholders with evidence that Borrower has obtained the insurance coverage required by this Agreement. If the Noteholders purchase insurance for the Collateral, as set forth above, Borrower will be responsible for the costs of that insurance, including interest and any other charges that may be imposed with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance and the costs of the insurance may be added to the principal amount of the Loans owing hereunder.
Right to Purchase Insurance. The Association shall have the right and option to purchase, carry and maintain in force insurance covering any or all portion of the Common Properties, any improvements thereon or appurtenant thereto, for the interest of the Association, its Board, officers, managers, agents and employees, and of all Members of the Association, in such amounts and with such endorsements and coverage as shall be deemed appropriate by the Board and/or as specifically required by the Eligible Mortgagees or Eligible Insurers. Such insurance may include, but need not be limited to:
10.1.1 Insurance against loss or damage by fire and hazards covered by a standard extended coverage endorsement in an amount which shall be equal to the maximum insurable replacement value, excluding foundation and excavation costs;
10.1.2 Comprehensive public liability and property damage insurance on a broad form basis, including coverage of personal liability (if any) of the Board, and the Owners, Members and Resident with respect to the Common Properties;
10.1.3 Fidelity bonds for all officers and employees of the Association having control over the receipt or disbursement of funds; and
10.1.4 Liability insurance regarding the errors and om1ss1ons of Directors, officers, managers, employees and representatives of the Association.
