Common use of Secured Party Coverage-Applies Only to Coverage on Business Property Clause in Contracts

Secured Party Coverage-Applies Only to Coverage on Business Property. (This entire clause is void unless the name of a secured party is inserted in the Declarations or the Supplemental Declarations. This clause applies only to the interest of a secured party and does not affect the insured’s rights or duties under the policy). If a secured party is named in this policy, any loss payable on property subject to the security interest shall be payable to the secured party and you as interest may appear. If there is more than one security interest in the same property, the order of payment shall be the same as their order of priority. If we deny your claim, that denial shall not apply to a valid claim of a secured party if such party has:

Secured Party Coverage-Applies Only to Coverage on Business Property. (This entire clause is void unless the name of a secured party is inserted in the Declarations or the Supplemental Declarations. This clause applies only to the interest of a secured party and does not affect the insured’s 's rights or duties under the policy). .) If a secured party is named in this policy, any loss payable on property subject to the security interest shall be payable to the secured party and you as interest may appear. If there is more than one security interest in the same property, the order of payment shall be the same as their order of priority. If we deny your claim, that denial shall not apply to a valid claim of a secured party if such party has: