Common use of Risks to be Insured Clause in Contracts

Risks to be Insured. With respect to each Mortgaged Property, Borrower shall procure and maintain, or shall cause a Mortgaged Property Subsidiary to procure and maintain continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "A" (or its equivalent) or better by Xxxxxx X. Best Company, Inc., (iii) with a financial size rating of VIII (or its equivalent) or better, by Xxxxxx X. Best Company, Inc., and (iv) otherwise satisfactory to the Agent; provided, however, that (1) each insurer of COPT's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that such carrier(s) shall comply with the requirement set forth in clause (ii) above, and (2) as of the Closing Date, the insurers of COPT's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc. and have a financial size rating of "VIII" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that, in the event COPT or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by the Agent. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Mortgaged Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by the Agent in its sole discretion. The insurance to be procured and maintained by COPT and its Subsidiaries is the following:

Risks to be Insured. With respect to each Mortgaged Property, each Borrower shall procure and maintain, or shall cause a Mortgaged Property Subsidiary to procure and maintain continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "A" (or its equivalent) or better by Xxxxxx X. Alfred M. Best Company, Inc., (iii) with a financial size rating of VIII VXXX (or its xx xts equivalent) or better, by Xxxxxx X. Alfred M. Best Company, Inc., and (iv) otherwise satisfactory to the AgentAgenx; providedXXXXXXED, howeverHOWEVER, that (1) each insurer of COPT's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" (or its equivalent) by Xxxxxx X. Alfred M. Best Company, Inc.; it being understood and agreed that such carrier(ssucx xxxxxxx(s) shall comply with the requirement set forth in clause (ii) above, and (2) as of the Closing Date, the insurers of COPT's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "A-" (or its equivalent) by Xxxxxx X. Alfred M. Best Company, Inc. and have a financial size rating of "VIIIVIIX" (or its xx xxs equivalent) by Xxxxxx X. Alfred M. Best Company, Inc.; it being understood and agreed that, in the event xxx xxxxt COPT or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by the Agent. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Mortgaged Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by the Agent in its sole discretion. The insurance to be procured and maintained by COPT and its Subsidiaries is the following:

Risks to be Insured. With respect to each Mortgaged Property, each Borrower shall procure and maintain, or shall cause a Mortgaged Property Subsidiary to procure and maintain continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "A" (or its equivalent) or better by Xxxxxx X. Best Company, Inc., (iii) with a financial size rating of VIII (or its equivalent) or better, by Xxxxxx X. Best Company, Inc., and (iv) otherwise satisfactory to the AgentLender; provided, however, that (1) each insurer of COPTRoyale's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that such carrier(s) shall comply with the requirement set forth in clause (ii) above, and (2) as of the Closing Date, the insurers of COPTRoyale's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc. and have a financial size rating of "VIII" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that, in the event COPT Royale or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by the AgentLender. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Mortgaged Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by the Agent Lender in its sole discretion. The insurance to be procured and maintained by COPT Royale and its Subsidiaries is the following:

Risks to be Insured. With respect to each Mortgaged Property, Borrower shall procure and maintain, or shall cause a Mortgaged Property Subsidiary to procure and maintain continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "A" (or its equivalent) or better by Xxxxxx X. Alfred M. Best Company, Inc., (iii) with a financial size rating of VIII VXXX (or its xx xts equivalent) or better, by Xxxxxx X. Alfred M. Best Company, Inc., and (iv) otherwise satisfactory to the AgentXxxxx; providedxxovided, however, that (1) each insurer of COPT's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" (or its equivalent) by Xxxxxx X. Alfred M. Best Company, Inc.; it being understood and agreed that such carrier(ssucx xxxxxxx(s) shall comply with the requirement set forth in clause (ii) above, and (2) as of the Closing Date, the insurers of COPT's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "A-" (or its equivalent) by Xxxxxx X. Alfred M. Best Company, Inc. and have a financial size rating of "VIIIVIIX" (or its xx xxs equivalent) by Xxxxxx X. Alfred M. Best Company, Inc.; it being understood and agreed that, in the event xxx xxxxt COPT or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by the Agent. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Mortgaged Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by the Agent in its sole discretion. The insurance to be procured and maintained by COPT and its Subsidiaries is the following:

Risks to be Insured. With respect to each Mortgaged Pool A Property, Borrower each Loan Party shall procure or cause to be procured, and maintain, each Loan Party shall maintain or shall cause a Mortgaged Property Subsidiary to procure and maintain be maintained continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "``A" '' (or its equivalent) or better by Xxxxxx X. Best Company, Inc., (iii) with a financial size rating of VIII (or its equivalent) or better, by Xxxxxx X. Best Company, Inc., and (iv) otherwise satisfactory to the Agent; providedPROVIDED, howeverHOWEVER, that the requirements set forth in clauses (ii) and (iii) above with respect to any Pool A Property shall be subject to any requirements of any related Ground Lease; PROVIDED FURTHER, HOWEVER, that (1) each insurer of COPTCapStar's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" ``A- '' (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that such carrier(s) shall comply with the requirement set forth in clause (ii) above, and (2) as of the Closing Date, the insurers of COPTCapStar's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "``A-" '' (or its equivalent) by Xxxxxx X. Best Company, Inc. and have a financial size rating of "``VIII" '' (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that, in the event COPT CapStar or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by the Agent. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Mortgaged Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by the Agent in its sole discretion. The insurance to be procured and maintained by COPT CapStar and its Subsidiaries is the following:

Risks to be Insured. With respect to each Mortgaged Property, Borrower shall procure and maintainor cause to be procured, or shall cause a Mortgaged Property Subsidiary to procure and maintain or cause to be maintained continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "A" (or its equivalent) or better by Xxxxxx X. Best Company, Inc., (iii) with a financial size rating of VIII (or its equivalent) or better, by Xxxxxx X. Best Company, Inc., and (iv) otherwise satisfactory to the Administrative Agent; provided, however, that (1) each insurer of COPT's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that such carrier(s) shall comply with the requirement requirements set forth in clause clauses (ii) above, and (2iii) above with respect to any Mortgaged Property shall be subject to any requirements of any related Ground Lease; provided, further, however, that as of the Closing Date, the insurers of COPTthe Borrower's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc. and have a financial size rating of "VIII" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that, in the event COPT the Borrower or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by the Administrative Agent. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Mortgaged Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by the Administrative Agent in its sole discretion. The insurance to be procured and maintained by COPT the Borrower and its Subsidiaries is the following:

Risks to be Insured. With respect to each Mortgaged Property, Borrower shall procure and maintain, or shall cause a Mortgaged Property Subsidiary to procure and maintain continuously in effect, insurance coverage issued by an insurer (i) authorized to issue such insurance in all applicable jurisdictions, (ii) rated "A" (or its equivalent) or better by Xxxxxx X. Best Company, Inc., (iii) with a financial size rating of VIII (or its equivalent) or better, by Xxxxxx X. Best Company, Inc., and (iv) otherwise satisfactory to the Agent; provided, however, that (1) each insurer of COPT's or any of its Subsidiaries' umbrella liability insurance policies as of the Closing Date (and any renewal thereof by such insurers), may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that such carrier(s) shall comply with the requirement set forth in clause (ii) above, and (2) as of the Closing Date, the insurers of COPT's or any of its Subsidiaries' earthquake, flood and wind insurance policies (and any renewals thereof by such insurers, respectively) may be rated "A-" (or its equivalent) by Xxxxxx X. Best Company, Inc. and have a financial size rating of "VIII" (or its equivalent) by Xxxxxx X. Best Company, Inc.; it being understood and agreed that, in the event COPT or any of its Subsidiaries procures any earthquake, flood or wind insurance from a carrier other than the carrier providing such insurance on the Closing Date, such carrier shall comply with the requirements set forth in clauses (ii) and (iii) above unless otherwise approved by the Agent. Each Loan Party shall pay, and shall cause each of its Subsidiaries to pay, in a timely manner all premiums due in connection therewith. All insurance policies shall be issued by insurers doing business as admitted licensed carriers in the state where such Mortgaged Property is located, and shall be authorized and licensed to issue insurance in such state unless otherwise approved by the 58 Agent in its sole discretion. The insurance to be procured and maintained by COPT and its Subsidiaries is the following: