Common use of Risk of Loss; Insurance Clause in Contracts

Risk of Loss; Insurance. The Grantor shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's own cost and expense in amounts and with carriers acceptable to the Secured Parties, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's including, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish the Secured Parties with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured Parties, naming the Secured Parties as loss payees and providing that as to the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties with at least 30 days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is hereby authorized to adjust and compromise claims. All loss recoveries received by the Secured Parties upon any such insurance may be applied to the Obligations, in such order as the Secured Parties in its sole discretion shall determine. Any surplus shall be paid by the Secured Parties to the Grantor or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor to the Secured Parties, on demand.

Risk of Loss; Insurance. The Grantor shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's own cost and expense in amounts and with carriers acceptable to the Secured PartiesCollateral Agent, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's including, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish the Secured Parties Collateral Agent with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured PartiesCollateral Agent, naming the Collateral Agent for the benefit of the Secured Parties as loss payees and providing that as to the Collateral Agent for the benefit of the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties Collateral Agent with at least 30 days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties Collateral Agent and not to the Grantor and the Secured Parties Collateral Agent jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties Collateral Agent jointly, the Secured Parties Collateral Agent may endorse the Grantor's name thereon and do such other things as the Secured Parties Collateral Agent may deem advisable to reduce the same to cash. The Secured Parties Collateral Agent is hereby authorized to adjust and compromise claims. All loss recoveries received by the Secured Parties Collateral Agent upon any such insurance may be applied to the Obligations, in such order as the Secured Parties Collateral Agent in its sole discretion shall determine. Any surplus shall be paid by the Secured Parties Collateral Agent to the Grantor or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor to the Secured PartiesCollateral Agent, on demand.

Risk of Loss; Insurance. The Grantor shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's ’s own cost and expense in amounts and with carriers acceptable to the Secured Parties, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's ’s including, without limitation, public and product liability insurance, worker's ’s compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's ’s officers and employees and business interruption insurance; (b) furnish the Secured Parties with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured Parties, naming the Secured Parties as loss payees and providing that as to the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties with at least 30 days notice prior to cancellation. The Upon the occurrence and continuation of any Event of Default: the Grantor shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If ; if any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's ’s name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The ; the Secured Parties is are hereby authorized to adjust and compromise claims. All ; all loss recoveries received by the Secured Parties upon any such insurance may shall be applied to the Obligations, in such order as the Secured Parties in its their sole discretion shall determine. Any In that event, any surplus shall be paid by the Secured Parties to the Grantor or applied as may be otherwise required by law. Any , and any deficiency thereon shall be paid by the Grantor to the Secured Parties, on demand.

Risk of Loss; Insurance. The Grantor Tenant shall bear the full risk of loss be responsible for loss, damage or injury caused by its own negligence or willful conduct. Resident will indemnify Landlord and its agents and employees and hold it harmless from and against any and all claims, actions, damages, liability and expense (including attorney’s fees through all appeals) in connection with loss of life, personal injury and/or damage to persons or property, arising from or out of the use by Resident of the premises or any nature whatsoever with respect part thereof or any other part of Landlord’s property, or occasioned wholly or in part by an act of omission of Resident, it’s agent(s), family, employee(s), occupant(s), servant(s) or guest(s) affecting any of such person(s). Tenant should carry insurance covering Tenant’s personal property and Xxxxxx’s liability insurance. Tenant acknowledges that Xxxxxxxx does not maintain insurance to the Collateralprotect Tenant against personal injury, loss or damage to Xxxxxx’s personal property or belongings, or to cover Xxxxxx’s own personal liability for injury, loss or damage Xxxxxx (or Xxxxxx’s occupants or guests) may cause others. At it's Xxxxxx also acknowledges that by not maintaining Tenant’s own cost and expense in amounts and with carriers acceptable to the Secured Parties, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards policy of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's including, without limitation, public and product personal liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; Tenant may be responsible to others (bincluding Landlord) furnish for the Secured Parties with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured Parties, naming the Secured Parties as loss payees and providing that as to the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties with at least 30 days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event full cost of any injury, loss thereunderor damage caused by Xxxxxx’s actions or the actions of Xxxxxx’s occupants or guests, including but not limited to fire damage. For the carriers shall make payment for such loss duration of Xxxxxx’s lease, Tenant must maintain a personal liability insurance policy, which provides limits of liability to third parties in an amount not less than $100,000 per occurrence. Tenant will ensure that the Secured Parties and not to liability insurance policy indentifies the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft Landlord or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things property management company as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is hereby authorized to adjust and compromise claims. All loss recoveries received by the Secured Parties upon any such insurance may be applied to the Obligations, in such order as the Secured Parties in its sole discretion shall determine. Any surplus shall be paid by the Secured Parties to the Grantor an “Additional Insured,” “Party of Interest” or applied “Interested Party” (or similar language as may be otherwise available). Tenant understands and agrees to maintain at all times during the term of the lease and any renewal periods, a policy of personal liability insurance with this limit and other satisfying the requirements listed below, at your sole expense. Tenant is required by to purchase and maintain personal liability insurance covering Tenant, Xxxxxx’s occupants and guests, for personal injury and property damage caused to third-parties (including damages to Landlord’s property), with the minimum policy coverage amount set forth above, from a licensed insurance carrier authorized to issue such insurance. The carrier is required to provide notice to Landlord within 10 days of any cancellation, nonrenewal, or material change in Tenant’s coverage. Landlord retains the right to hold Tenant responsible for any loss in excess of your insurance coverage. Any default under the terms of this paragraph shall be deemed an immediate, material and incurable default under the terms of the lease, and Landlord shall be entitled to exercise all right and remedies under the law. Any deficiency thereon shall If Tenant fails to pay the insurance charge or if Tenant allows policy to expire or cancel, Tenant will be paid in default under the terms of lease. Tenant must provide Landlord proof of insurance by the Grantor uploading insurance documentation via tenant’s online portal; refusal to the Secured Partiesprovide insurance documentation is a breach of this Lease. If Tenant fails to provide proof of insurance within 14 days after lease start date, on demand.Landlord will charge a monthly fee of $100, which is considered additional rent. Tenant Holding Account

Risk of Loss; Insurance. The Grantor Company shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's own cost and expense in amounts and with carriers reasonably acceptable to the Secured PartiesCollateral Agent, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the GrantorCompany's including, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish the Secured Parties Collateral Agent with (i) copies of all policies and evidence of the maintenance of such policies at least 30 thirty (30) days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured PartiesCollateral Agent, naming the Secured Parties Collateral Agent as loss payees payee and providing that as to the Secured Parties Collateral Agent the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor Company and the insurer will provide the Secured Parties Collateral Agent with at least 30 thirty (30) days notice prior to cancellation. The Grantor Company shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties Collateral Agent and not to the Grantor Company and the Secured Parties Collateral Agent jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor Company and the Secured Parties Collateral Agent jointly, the Secured Parties Collateral Agent may endorse the GrantorCompany's name thereon and do such other things as the Secured Parties Collateral Agent may deem advisable to reduce the same to cash. The Secured Parties Following the occurrence of an Event of Default, the Collateral Agent is hereby authorized to adjust and compromise claims. All loss recoveries received by the Secured Parties Collateral Agent upon any such insurance may be applied to the Obligations, in such order as the Secured Parties Investors in its their sole discretion shall determine. Any surplus shall be paid by the Secured Parties Collateral Agent to the Grantor Company or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor Company to the Secured PartiesCollateral Agent, on demand.

Risk of Loss; Insurance. The Grantor Company shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's the Company’s own cost and expense in amounts and with carriers acceptable to the Secured PartiesLender, it the Company shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's Company’s including, without limitation, public and product liability insurance, worker's ’s compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's ’s officers and employees and business interruption insurance; (b) furnish the Secured Parties Lender with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before and will consult in good faith with the Lender regarding replacement or renewal of coverage in advance of any expiration date, and (ii) obtain appropriate loss payable endorsements in form and substance satisfactory to the Secured PartiesLender, naming the Secured Parties Lender as loss payees payee and providing that as to the Secured Parties Lender the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor Company and the insurer will provide the Secured Parties Lender with at least 30 thirty (30) days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event Upon an Event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is hereby authorized to adjust and compromise claims. All Default: (i) all loss recoveries received by the Secured Parties Lender upon any such insurance may be applied to the Obligations, in such order as the Secured Parties Lender in its sole discretion shall determine. Any ; (ii) any surplus shall be paid by the Secured Parties Lender to the Grantor Company or applied as may be otherwise required by law. Any : and (iii) any deficiency thereon shall be paid by the Grantor Company to the Secured PartiesLender, on demand.

Risk of Loss; Insurance. The Grantor shall bear the full Lessee hereby assumes all risk of loss from the occurrence of a Casualty Event while the Equipment is in transit, in Xxxxxx's possession or under Xxxxxx's control. The occurrence of a Casualty Event shall not impair any loss obligation of Lessee under this Lease. Lessee shall promptly notify Lessor of the occurrence of any nature whatsoever with respect Casualty Event. Xxxxxx agrees to keep the CollateralEquipment insured to protect all interests of Lessor, at Xxxxxx's expense, against all Casualty Events for not less than the unpaid balance of the lease rentals due hereunder or 80% of the then current value of Equipment, whichever is higher and in addition shall obtain and maintain insurance in an amount reasonable under the circumstances for public liability and property damage. At it's own cost All such insurance policies and expense the proceeds therefrom shall be the sole property of Lessor and Lessor shall be named as an additional insured and additional loss payee in amounts all said policies and with carriers acceptable to as sole loss payee in policies insuring the Secured Parties, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards Equipment. The proceeds of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's including, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement whether resulting from loss or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish damage or return premium or otherwise shall be applied toward the Secured Parties with (i) copies of all policies and evidence replacement or repair of the maintenance Equipment or the payment of obligations of Lessee hereunder, at the option of Lessor. Lessee hereby appoints Lessor as Xxxxxx's attorney-in-fact to make claim for, receive payment of an execute or endorse all documents, checks or drafts for loss or damage or return premium under insurance policies issued on the Equipment. All such policies at least 30 days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured Parties, naming the Secured Parties as loss payees and providing shall provide that as to the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties with at least 30 days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is hereby authorized to adjust and compromise claims. All loss recoveries received by the Secured Parties upon any such insurance they may be applied cancelled only after giving 30 days' prior written notification to the ObligationsLessor. XXXXXX SHALL INDEMNIFY AND HOLD LESSOR HARMLESS FROM ANY LOSS, in such order as the Secured Parties in its sole discretion shall determine. Any surplus shall be paid by the Secured Parties to the Grantor or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor to the Secured PartiesCLAIM OR DAMAGE TO PERSONS OR PROPERTY ARISING OUT OF LESSEE'S USE, on demandPOSSESSION OR STORAGE OF THE EQUIPMENT.

Risk of Loss; Insurance. The Grantor shall bear Lessee assumes the full entire risk of loss for damages to the Equipment and for all liability (including liability to third parties or to Lessee’s agents and employees) arising from Lessee’s operation, storage, or use of the Equipment. Lessee agrees to keep the Equipment insured, at Lessee’s expense, to protect all interests of the Lessor, at Lessee’s expense, against all risks of loss, damage, and liability from any cause whatsoever. Lessor shall be named as an additional insured in all said policies and as loss payee in the policies insuring the Equipment. The proceeds of such insurance, whether resulting from loss, return premium, or otherwise, shall be applied toward the replacement or repair of the Equipment or the payment of obligations of Lessee, at the option of Lessor. The casualty insurance maintained by Lessee in accordance with this Lease shall be in an amount at least equal to the replacement cost of the Equipment. The liability insurance maintained by Lessee in accordance with this Lease shall be in an amount of at least One Million and No/100 Dollars ($1,000,000.00) per occurrence or such greater amount as may be comply with general industry standards. All insurance policies shall be written by properly licensed insurers and in form and terns reasonably satisfactory to Lessor; shall provide for at least thirty (30) days’ prior written notice to Lessor before any cancellation or material modification; shall waive any claim for premium against Lessor; and shall provide that Lessor shall be insured regardless of any nature whatsoever with respect breach by Lessee of any representation, warranty, or covenant in any such policy or any application for such policy. Lessee shall deliver to the Collateral. At it's own cost and expense in amounts and with carriers acceptable to the Secured PartiesLessor certificates of insurance, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazardspolicy copies, and for other evidence satisfactory to Lessor evidencing the insurance required hereby, and at Lessor’ request Lessee shall furnish copies of such amounts, as is customary in policies to Lessor. In the case of companies engaged in businesses similar to the Grantor's includingrenewals, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish the Secured Parties with (i) copies of all policies and evidence of the maintenance of such policies renewal shall be delivered to Lessor at least 30 five (5) days before any prior to expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured Parties, naming the Secured Parties as loss payees and providing that as to the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties with at least 30 days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is hereby authorized to adjust and compromise claims. All loss recoveries received by the Secured Parties upon any such insurance may be applied to the Obligations, in such order as the Secured Parties in its sole discretion shall determine. Any surplus shall be paid by the Secured Parties to the Grantor or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor to the Secured Parties, on demandcurrent policy.

Risk of Loss; Insurance. The Grantor Company shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At itthe Company's own cost and expense in amounts and with carriers acceptable to the Secured PartiesLenders, it the Company shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the GrantorCompany's including, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish the Secured Parties Lenders with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before and will consult in good faith with the Lenders regarding replacement or renewal of coverage in advance of any expiration date, and (ii) obtain appropriate loss payable endorsements in form and substance satisfactory to the Secured PartiesLenders, naming the Secured Parties Lenders as loss payees payee and providing that as to the Secured Parties Lenders the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor Company and the insurer will provide the Secured Parties Lenders with at least 30 thirty (30) days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event Upon an Event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is hereby authorized to adjust and compromise claims. All Default: (i) all loss recoveries received by the Secured Parties Lenders upon any such insurance may be applied to the Obligations, in such order as obligations represented by the Secured Parties in its sole discretion shall determine. Any Notes; (ii) any surplus shall be paid by the Secured Parties Lenders to the Grantor Company or applied as may be otherwise required by law. Any : and (iii) any deficiency thereon shall be paid by the Grantor Company to the Secured PartiesLenders, on demand.

Risk of Loss; Insurance. The Grantor Until such time as title to the Equipment is transferred to Converted Organics, Waste Systems shall bear the full risk of loss from any loss of any nature whatsoever maintain with respect to the Collateral. At it's own cost and expense Equipment “special form” property/casualty insurance in amounts and with carriers acceptable an amount equal to the Secured Partiesfull replacement cost of the Equipment insuring against damage to or destruction of the Equipment from those causes of loss normally insured by a standard policy of “special form” insurance. During the period that Waste Systems is required to insure the Equipment, it Converted Organics shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazardshave no liability with respect to, and Waste Systems hereby releases Converted Organics from any liability with respect to, any damage to or destruction of the Equipment arising from causes of loss insurable by such “special form” insurance; provided, however, Converted Organics shall be liable to Waste Systems for such amountsany and all damage to or destruction of the Equipment arising from acts or omissions of Converted Organics, as is customary in the case its agents and employees which are not insurable by “special form” insurance. Waste Systems shall cause its policies of companies engaged in businesses similar “special form” or other property/casualty insurance with respect to the Grantor's includingEquipment to contain a provision or endorsement waiving the insurer’s rights of subrogation against Converted Organics and its agents and employees. From and after the date that title to the Equipment is transferred to Converted Organics, without limitationConverted Organics shall maintain with respect to the Equipment “special form” property/casualty insurance in an amount equal to the full replacement cost of the Equipment insuring against damage to or destruction of the Equipment from those causes of loss normally insured by a standard policy of “special form” insurance. During the period that Converted Organics is required to insure the Equipment, public Waste Systems shall have no liability with respect to, and product Converted Organics hereby releases Waste Systems from any liability with respect to, any damage to or destruction of the Equipment arising from causes of loss insurable by such “special form” insurance; provided, however, Waste Systems shall be liable to Converted Organics for any and all damage to or destruction of the Equipment arising from the gross negligence or intentionally destructive acts of Waste Systems, its agents and employees which are not insurable by “special form” insurance. Converted Organics shall cause its policies of “special form” or other property/casualty insurance with respect to the Equipment to contain a provision or endorsement waiving the insurer’s rights of subrogation against Waste Systems and its agents and employees. Following the transfer of title to the Equipment from Waste Systems to Converted Organics, Converted Organics agrees that while the Equipment is present on the Landfill or Converted Organics’ agents or employees are performing work in connection with the Equipment or otherwise present on the Landfill, Converted Organics shall maintain in full force and effect a policy(ies) of commercial general liability insurance, worker's compensationincluding contractual liability coverage, with a minimum combined single limit of Three Million Dollars ($3,000,000) with respect to Converted Organics’ activities upon the Landfill (such coverage to be afforded utilizing one or more commercial general liability and/or umbrella liability policies). Similarly, at all times while this Agreement is in effect, Waste Systems shall maintain in full force and effect a policy(ies) of commercial general liability insurance, including contractual liability coverage, with minimum limits as prescribed by the South Canyon Contract with respect to the Landfill (such coverage to be afforded utilizing one or more commercial general liability and/or umbrella liability policies). All such policies of commercial general liability insurance against larceny, embezzlement or other criminal misappropriation carried by Converted Organics shall name Waste Systems and the Enterprise/City of insured's officers Glenwood Springs as additional insureds and employees and business interruption insurance; (b) furnish the Secured Parties with shall: (i) copies of all policies and evidence of the maintenance of such policies be issued by financially responsible insurance companies having at least 30 days before any expiration date, an A/VIII rating with Best Insurance Reports and licensed and authorized to do business in the State of Colorado; (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured Parties, naming the Secured Parties as loss payees and providing provide that as to the Secured Parties the insurance coverage such policies shall not be impaired subject to cancellation or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties with reduction in coverage except after at least 30 twenty (20) days notice prior to cancellation. The Grantor shall instruct the insurance carriers that (ten (10) days in the event of cancellation due to nonpayment of premium) prior written notice to Waste Systems and the Enterprise/City of Glenwood Springs; and (iii) shall be primary, and any loss thereunderinsurance carried by Waste Systems or the Enterprise/City of Glenwood Springs shall be noncontributing. All insurance required to be carried by Converted Organics and Waste Systems hereunder may be carried under blanket policies covering the Equipment, Landfill and other locations, provided that the carriers coverage afforded by reason of the use of such blanket policy(ies) shall make payment not be reduced or diminished from the requirements for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cashset forth in this Section 7. The Secured Parties is hereby authorized to adjust and compromise claims. All loss recoveries received parties shall each, within five (5) days after request by the Secured Parties upon any other party, provide such party with reasonable evidence that the policies of insurance may required to be applied to the Obligations, maintained under this Section 7 are currently in such order as the Secured Parties in its sole discretion shall determine. Any surplus shall be paid by the Secured Parties to the Grantor or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor to the Secured Parties, on demandplace.

Risk of Loss; Insurance. The Grantor shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's own cost and expense in amounts and with carriers acceptable to the Secured Parties, it shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's including, without limitation, public and product liability insurance, worker's compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's officers and employees and business interruption insurance; (b) furnish the Secured Parties with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before any expiration date, and (ii) appropriate loss payable endorsements in form and substance satisfactory to the Secured Parties, naming the Secured Parties as loss payees and providing that as to the Secured Parties the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor and the insurer will provide the Secured Parties with at least 30 days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is are hereby authorized to adjust and compromise claims. All loss recoveries received by the Secured Parties upon any such insurance may be applied to the Obligations, in such order as the Secured Parties in its their sole discretion shall determine. Any surplus shall be paid by the Secured Parties to the Grantor or applied as may be otherwise required by law. Any deficiency thereon shall be paid by the Grantor to the Secured Parties, on demand.

Risk of Loss; Insurance. The Grantor Company shall bear the full risk of loss from any loss of any nature whatsoever with respect to the Collateral. At it's the Company’s own cost and expense in amounts and with carriers acceptable to the Secured PartiesLender, it the Company shall (a) keep all its insurable properties and properties in which it has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar to the Grantor's Company’s including, without limitation, public and product liability insurance, worker's ’s compensation, insurance against larceny, embezzlement or other criminal misappropriation of insured's ’s officers and employees and business interruption insurance; (b) furnish the Secured Parties Lender with (i) copies of all policies and evidence of the maintenance of such policies at least 30 days before and will consult in good faith with the Lender regarding replacement or renewal of coverage in advance of any expiration date, and (ii) obtain appropriate loss payable endorsements in form and substance satisfactory to the Secured PartiesLender, naming the Secured Parties Lender as loss payees payee and providing that as to the Secured Parties Lender the insurance coverage shall not be impaired or invalidated by any act or neglect of the Grantor Company and the insurer will provide the Secured Parties Lender with at least 30 thirty (30) days notice prior to cancellation. The Grantor shall instruct the insurance carriers that in the event Upon an Event of any loss thereunder, the carriers shall make payment for such loss to the Secured Parties and not to the Grantor and the Secured Parties jointly. If any insurance losses are paid by check, draft or other instrument payable to the Grantor and the Secured Parties jointly, the Secured Parties may endorse the Grantor's name thereon and do such other things as the Secured Parties may deem advisable to reduce the same to cash. The Secured Parties is hereby authorized to adjust and compromise claims. All Default: (i) all loss recoveries received by the Secured Parties Lender upon any such insurance may be applied to the Obligations, in such order as the Secured Parties Lender in its sole discretion shall determine. Any ; (ii) any surplus shall be paid by the Secured Parties Lender to the Grantor Company or applied as may be otherwise required by law. Any ; and (iii) any deficiency thereon shall be paid by the Grantor Company to the Secured PartiesLender, on demand.