Common use of Terms of In-Orbit Insurance Clause in Contracts

Terms of In-Orbit Insurance. Any In-Orbit Insurance procured with respect to such Covered Satellite: (1) shall provide coverage for all of the risks of loss of and damage to such Covered Satellite (other than the risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer pursuant to the terms of the applicable Satellite Purchase Agreement), including for partial loss, constructive total loss and total loss, subject to (x) Acceptable Exclusions and (y) such other exclusions, deductibles or limitations of coverage with respect to Covered Satellites that would otherwise be Excluded Satellites under paragraph (e) of the definition of “Excluded Satellites” but for the commercially reasonable efforts by Holdings and its Restricted Subsidiaries to minimize the exclusions and insurance deductibles; (2) with respect to Covered Satellites, In-Orbit Insurance shall be in an amount not less than 50% of the Aggregate In-Orbit Insurance Amount (with the allocation of such insurance among such Covered Satellites being in Holdings’ discretion; provided that, with respect to each Named Satellite, In-Orbit Insurance shall be in an amount not less than 50% of such Named Satellite’s net book value), it being understood that (i) any Covered Satellite protected by In-Orbit Spare Capacity shall be deemed to be insured for 100% of the net book value of the C-band payload portion of such Covered Satellite, (ii) any Excluded Satellite with one year or less of in-orbit life remaining shall be deemed to be insured for 100% of its net book value (it being understood and agreed that such Excluded Satellite shall be deemed to have “in-orbit life” only for so long as it is maintained in station kept orbit) and (iii) any Excluded Satellite for which Holdings and its Restricted Subsidiaries have procured and maintain In-Orbit Insurance in accordance with clause (1) immediately above shall be deemed to be insured for the amount of such insurance procured and maintained; in the event any loss, damage or failure affecting a Covered Satellite or the expiration and non-renewal of an insurance policy for a Covered Satellite resulting from a claim of loss under such policy that causes a failure to comply with this clause (2), Holdings and its Restricted Subsidiaries shall be deemed to be in compliance with this clause (2) for the 120 days immediately following such loss, damage or failure or policy expiration, provided that Holdings procures such insurance or provides In-Orbit Spare Capacity as necessary to comply with this clause (2) within such 120 day period; (3) shall name the applicable Satellite Purchaser as the named insured; (4) shall provide that it will not be cancelled or reduced, amended or allowed to lapse without renewal, except after not less than 15 days’ prior notice to the Trustee; provided that if such policy notice provisions are not available on commercially reasonable terms such notice shall be provided to the Trustee by the Issuer not less than 15 days in advance, if such cancellation, reduction, amendment or lapse without renewal is initiated by the Issuer and otherwise at such time as the Issuer becomes aware of, or receives notice of any cancellation, reduction, amendment, or lapse without renewal; and (5) shall, in the case of a Satellite a portion of which is owned by Holdings or any of its Restricted Subsidiaries and the balance of which is owned by any Person that is not an Affiliate of either Holdings or any of its Restricted Subsidiaries (other than solely by reason of Holdings or any Restricted Subsidiary holding a non-controlling equity interest in such Person), only be required with respect to that portion of the Satellite that is owned by Holdings or any of its Restricted Subsidiaries or for which Holdings or any of its Restricted Subsidiaries otherwise retains the risk of loss.

Terms of In-Orbit Insurance. Any In-Orbit Insurance procured with respect to such Covered Satellite: (1) shall provide coverage for all of the risks of loss of and damage to such Covered Satellite (other than the risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer pursuant to the terms of the applicable Satellite Purchase Agreement), including for partial loss, constructive total loss and total loss, subject to (x) Acceptable Exclusions and (y) such other exclusions, deductibles or limitations of coverage with respect to Covered Satellites that would otherwise be Excluded Satellites under paragraph (e) of the definition of “Excluded Satellites” but for the commercially reasonable efforts by Holdings and its Restricted Subsidiaries to minimize the exclusions and insurance deductibles; (2) with respect to Covered Satellites, In-Orbit Insurance shall be in an amount not less than 5075% of the Aggregate In-Orbit Insurance Amount (with the allocation of such insurance among such Covered Satellites being in Holdings’ the Canadian Borrower’s discretion; provided that, with respect to each Named Satellite, In-Orbit Insurance shall be in an amount not less than 50% of such Named Satellite’s net book value), it being understood that (i) any Covered Satellite protected by In-Orbit Spare Capacity shall be deemed to be insured for 100% of the net book value of the C-band payload portion of such Covered Satellite, (ii) any Excluded Satellite with one year or less of in-orbit life remaining shall be deemed to be insured for 100% of its net book value (it being understood and agreed that such Excluded Satellite shall be deemed to have “in-orbit life” only for so long as it is maintained in station kept orbit) and (iii) any Excluded Satellite for which Holdings and its Restricted Subsidiaries have procured and maintain In-Orbit Insurance in accordance with clause (1Section 5.02(b)(iii)(B)(1) immediately above shall be deemed to be insured for the amount of such insurance procured and maintained; in the event any loss, damage or failure affecting a Covered Satellite or the expiration and non-renewal of an insurance policy for a Covered Satellite resulting from a claim of loss under such policy that causes a failure to comply with this clause (2), Holdings and its Restricted Subsidiaries shall be deemed to be in compliance with this clause (2) for the 120 days immediately following such loss, damage or failure or policy expiration, provided that Holdings procures such insurance or provides In-Orbit Spare Capacity as necessary to comply with this clause (2) within such 120 day period; (3) shall name the applicable Satellite Purchaser as the named insured; (4) shall provide that it will not be cancelled or reduced, amended or allowed to lapse without renewal, except after not less than 15 days’ prior notice to the TrusteeAdministrative Agent; provided that if such policy notice provisions are not available on commercially reasonable terms such notice shall be provided to the Trustee Administrative Agent by the Issuer Canadian Borrower not less than 15 days in advance, if such cancellation, reduction, amendment or lapse without renewal is initiated by the Issuer Canadian Borrower and otherwise at such time as the Issuer Canadian Borrower becomes aware of, or receives notice of any cancellation, reduction, amendment, or lapse without renewal; and (5) shall, in the case of a Satellite a portion of which is owned by Holdings or any of its Restricted Subsidiaries and the balance of which is owned by any Person that is not an Affiliate of either Holdings or any of its Restricted Subsidiaries (other than solely by reason of Holdings or any Restricted Subsidiary holding a non-controlling Controlling equity interest in such Person), only be required with respect to that portion of the Satellite that is owned by Holdings or any of its Restricted Subsidiaries or for which Holdings or any of its Restricted Subsidiaries otherwise retains the risk of loss.

Terms of In-Orbit Insurance. Any In-Orbit Insurance procured with respect to such a Covered Satellite: (1) shall provide coverage for all of the risks of loss of and damage to such Covered Satellite (other than the risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer pursuant to the terms of the applicable Satellite Purchase Agreement), including for partial loss, constructive total loss and total loss, subject to (x) Acceptable Exclusions and Exclusions, (y) such other exclusions, deductibles exclusions or limitations of coverage with respect applicable to Covered Satellites that would otherwise be Excluded Satellites under paragraph (e) all satellites of the definition same model or relating to systemic anomalies as are then customary in the satellite insurance market and as are reasonably acceptable to the Administrative Agent, and (z) such specific exclusions applicable to the performance of “Excluded Satellites” but such Covered Satellite as are reasonably accepted by the board of directors in order to obtain In-Orbit Insurance for the such Covered Satellite for a price that is, and on other terms and conditions that are, commercially reasonable efforts by Holdings and its Restricted Subsidiaries to minimize the exclusions and insurance deductiblesreasonable; (2) with respect to Covered Satellites, In-Orbit Insurance shall be in an amount not less than 5033% of the Aggregate aggregate book value of all Covered Satellites insured in accordance with Section 9.3(b)(iii) (it being understood that any Covered Satellite protected by an In-Orbit Insurance Amount Spare Satellite shall be deemed to be insured for 100% of its book value) (with the allocation of such insurance among such Covered Satellites being in Holdings’ the Borrower’s discretion; provided that, with respect to each Named Satellite, In-Orbit Insurance shall be in an amount not less than 50% of such Named Satellite’s net book value), it being understood that (i) any Covered Satellite protected by In-Orbit Spare Capacity shall be deemed to be insured for 100% of the net book value of the C-band payload portion of such Covered Satellite, (ii) any Excluded Satellite with one year or less of in-orbit life remaining shall be deemed to be insured for 100% of its net book value (it being understood and agreed that such Excluded Satellite shall be deemed to have “in-orbit life” only for so long as it is maintained in station kept orbit) and (iii) any Excluded Satellite for which Holdings and its Restricted Subsidiaries have procured and maintain In-Orbit Insurance in accordance with clause (1) immediately above shall be deemed to be insured for the amount of such insurance procured and maintained; in the event any loss, damage or failure affecting a Covered Satellite or the expiration and non-renewal of an insurance policy for a Covered Satellite resulting from a claim of loss under such policy that causes a failure to comply with this clause (2), Holdings the Borrower and its Restricted Subsidiaries shall be deemed to be in compliance with this clause (2) for the 120 days immediately following such loss, damage or failure or policy expiration, provided that Holdings the Borrower procures such insurance or provides In-Orbit Spare Capacity Space Satellite as necessary to comply with this clause (2) within such 120 day period; (3) shall name the applicable Satellite Purchaser as the named insuredinsured and the Collateral Trustee as additional insured and loss payee as its interests may appear (except that, in the case of Covered Satellites that are financed with Indebtedness permitted by Section 10.1, such In-Orbit Insurance shall name the respective holder of such Indebtedness, together with the Collateral Trustee, as loss payees as their interests may appear), provided that (x) in the case of any such endorsement as additional insured to be delivered by the Closing Date, the Administrative Agent may consent to such endorsement being delivered at such later date as it deems appropriate in the circumstances (y) in the case of any Covered Satellite that is not owned by the Borrower or any Guarantor or that is subject to a Lien permitted by Section 10.2(c), (f) or (g) and the terms of the Indebtedness secured by such Lien prohibit the assignment of, or granting of a security interest in such Covered Satellite, the Collateral Trustee shall not be named as a loss payee with respect to such Covered Satellite; (4) shall provide that it will not be cancelled canceled or reduced, amended or allowed to lapse without renewal, except after not less than 30 days’ prior notice to the Administrative Agent or not less than 15 days’ prior notice to the Trustee; provided that Administrative Agent if such policy notice provisions are 30 days is not then commercially available on commercially at a reasonable terms such notice shall be provided to the Trustee by the Issuer not less than 15 days in advance, if such cancellation, reduction, amendment or lapse without renewal is initiated by the Issuer and otherwise at such time as the Issuer becomes aware of, or receives notice of any cancellation, reduction, amendment, or lapse without renewalcost; and (5) shall, in the case of a Satellite a portion of which is owned by Holdings the Borrower or any of its Restricted Subsidiaries and the balance of which is owned by any Person that is not an Affiliate of either Holdings the Borrower or any of its Restricted Subsidiaries (other than solely by reason of Holdings the Borrower or any Restricted Subsidiary holding a non-controlling an equity interest in such Person), only be required with respect to that portion of the Satellite that is owned by Holdings the Borrower or any of its Restricted Subsidiaries or for which Holdings the Borrower or any of its Restricted Subsidiaries otherwise retains the risk of loss.

Terms of In-Orbit Insurance. Any In-Orbit Insurance procured with respect to such a Covered Satellite: (1) shall provide coverage for all of the risks of loss of and damage to such Covered Satellite (other than the risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer pursuant to the terms of the applicable Satellite Purchase Agreement), including for partial loss, constructive total loss and total loss, subject to (x) Acceptable Exclusions and Exclusions, (y) such other exclusions, deductibles exclusions or limitations of coverage with respect applicable to Covered Satellites that would otherwise be Excluded Satellites under paragraph (e) all satellites of the definition same model or relating to systemic anomalies as are then customary in the satellite insurance market and as are reasonably acceptable to the Administrative Agent, and (z) such specific exclusions applicable to the performance of “Excluded Satellites” but such Covered Satellite as are reasonably accepted by the board of directors in order to obtain In-Orbit Insurance for the such Covered Satellite for a price that is, and on other terms and conditions that are, commercially reasonable efforts by Holdings and its Restricted Subsidiaries to minimize the exclusions and insurance deductiblesreasonable; (2) with respect to Covered Satellites, In-Orbit Insurance shall be in an amount not less than 5033% of the Aggregate aggregate book value of all Covered Satellites insured in accordance with Section 9.3(b)(iii) (it being understood that any Covered Satellite protected by an In-Orbit Insurance Amount Spare Satellite shall be deemed to be insured for 100% of its book value) (with the allocation of such insurance among such Covered Satellites being in Holdings’ the Borrower’s discretion; provided that, with respect to each Named Satellite, In-Orbit Insurance shall be in an amount not less than 50% of such Named Satellite’s net book value), it being understood that (i) any Covered Satellite protected by In-Orbit Spare Capacity shall be deemed to be insured for 100% of the net book value of the C-band payload portion of such Covered Satellite, (ii) any Excluded Satellite with one year or less of in-orbit life remaining shall be deemed to be insured for 100% of its net book value (it being understood and agreed that such Excluded Satellite shall be deemed to have “in-orbit life” only for so long as it is maintained in station kept orbit) and (iii) any Excluded Satellite for which Holdings and its Restricted Subsidiaries have procured and maintain In-Orbit Insurance in accordance with clause (1) immediately above shall be deemed to be insured for the amount of such insurance procured and maintained; in the event any loss, damage or failure affecting a Covered Satellite or the expiration and non-renewal of an insurance policy for a Covered Satellite resulting from a claim of loss under such policy that causes a failure to comply with this clause (2), Holdings the Borrower and its Restricted Subsidiaries shall be deemed to be in compliance with this clause (2) for the 120 days immediately following such loss, damage or failure or policy expiration, provided that Holdings the Borrower procures such insurance or provides In-Orbit Spare Capacity Space Satellite as necessary to comply with this clause (2) within such 120 day period; (3) shall name the applicable Satellite Purchaser as the named insured and the Collateral Trustee as additional insured, provided that (x) in the case of any such endorsement as additional insured to be delivered by the Closing Date, the Administrative Agent may consent to such endorsement being delivered at such later date as it deems appropriate in the circumstances (y) in the case of any Covered Satellite that is not owned by the Borrower or any Guarantor or that is subject to a Lien permitted by Section 10.2(c), (f) or (g) and the terms of the Indebtedness secured by such Lien prohibit the assignment of, or granting of a security interest in such Covered Satellite, the Collateral Trustee shall not be named as an additional insured with respect to such Covered Satellite; (4) shall provide that it will not be cancelled canceled or reduced, amended or allowed to lapse without renewal, except after not less than 30 days’ prior notice to the Administrative Agent or not less than 15 days’ prior notice to the Trustee; provided that Administrative Agent if such policy notice provisions are 30 days is not then commercially available on commercially at a reasonable terms such notice shall be provided to the Trustee by the Issuer not less than 15 days in advance, if such cancellation, reduction, amendment or lapse without renewal is initiated by the Issuer and otherwise at such time as the Issuer becomes aware of, or receives notice of any cancellation, reduction, amendment, or lapse without renewalcost; and (5) shall, in the case of a Satellite a portion of which is owned by Holdings the Borrower or any of its Restricted Subsidiaries and the balance of which is owned by any Person that is not an Affiliate of either Holdings the Borrower or any of its Restricted Subsidiaries (other than solely by reason of Holdings the Borrower or any Restricted Subsidiary holding a non-controlling an equity interest in such Person), only be required with respect to that portion of the Satellite that is owned by Holdings the Borrower or any of its Restricted Subsidiaries or for which Holdings the Borrower or any of its Restricted Subsidiaries otherwise retains the risk of loss.

Terms of In-Orbit Insurance. Any In-Orbit Insurance procured with respect to such a Covered Satellite: (1) shall provide coverage for all of the risks of loss of and damage to such Covered Satellite (other than the risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer pursuant to the terms of the applicable Satellite Purchase Agreement), including for partial loss, constructive total loss and total loss, subject to (x) Acceptable Exclusions and Exclusions, (y) such other exclusions, deductibles exclusions or limitations of coverage with respect applicable to Covered Satellites that would otherwise be Excluded Satellites under paragraph (e) all satellites of the definition same model or relating to systemic anomalies as are then customary in the satellite insurance market and as are reasonably acceptable to the Administrative Agent, and (z) such specific exclusions applicable to the performance of “Excluded Satellites” but such Covered Satellite as are reasonably accepted by the Board of Directors in order to obtain In-Orbit Insurance for the such Covered Satellite for a price that is, and on other terms and conditions that are, commercially reasonable efforts by Holdings and its Restricted Subsidiaries to minimize the exclusions and insurance deductiblesreasonable; (2) with respect to for such time as the Borrower and its Restricted Subsidiaries shall maintain at least 12 Covered Satellites (other than Excluded Satellites) in commercial operation in orbit, In-Orbit Insurance for all such insured Covered Satellites in the aggregate, shall be in an amount not less than 5080% of the Aggregate In-Orbit Insurance Amount aggregate book value of all Covered Satellites insured in accordance with Section 5.06(b)(iii) (with the allocation of such insurance among such Covered Satellites being in Holdings’ the Borrower's discretion; provided that). In the event that fewer than 12 Covered Satellites (other than Excluded Satellites) are in commercial operation in-orbit, the Borrower shall have 120 days to obtain additional insurance in accordance with respect to this Section 5.06(b)(iii) such that each Named Satellite, Ininsured Covered Satellite in-Orbit Insurance orbit shall be insured in an amount of not less than 50% of such Named Satellite’s net book value), it being understood that (i) any Covered Satellite protected by In-Orbit Spare Capacity shall be deemed to be insured for 100% of the net book value of the C-band payload portion of for such Covered Satellite, (ii) any Excluded Satellite with one year or less of in-orbit life remaining shall be deemed to be insured for 100% of its net book value (it being understood and agreed provided that such Excluded Satellite shall be deemed to have “in-orbit life” only for so long as it is maintained in station kept orbit) and (iii) any Excluded Satellite for which Holdings and its Restricted Subsidiaries have procured and maintain In-Orbit Insurance in accordance with clause (1) immediately above shall be deemed to be insured for the amount of such insurance procured and maintained; in the event any loss, damage or failure affecting a Covered Satellite or the expiration and non-renewal of an insurance policy for a Covered Satellite resulting from a claim of loss under such policy that causes a failure to comply with this clause (2), Holdings and its Restricted Subsidiaries Borrower shall be deemed to be in compliance with this clause (2Section 5.06(b)(iii) for the 120 days immediately following such loss, damage or failure or policy expiration, provided that Holdings procures such insurance or provides In-Orbit Spare Capacity as necessary to comply with this clause (2) within such 120 day period; (3) shall name the applicable Satellite Purchaser as the named insured;insured and the Collateral Trustee as additional insured and loss payee as its interests may appear (except that, in the case of Covered Satellites that are financed with Indebtedness permitted by Section 6.01(i), such In-Orbit Insurance shall name the respective holder of such Indebtedness, together with the Collateral Trustee, as loss payees as their interests may appear), provided that in the case of any such endorsement as additional insured to be delivered by the Effective Date, the Administrative Agent may consent to such endorsement being delivered at such later date as it deems appropriate in the circumstances; Credit Agreement (4) shall provide that it will not be cancelled canceled or reduced, amended or allowed to lapse without renewal, except after not less than 15 30 days’ ' prior notice to the Trustee; provided that if such policy notice provisions are not available on commercially reasonable terms such notice shall be provided to the Trustee by the Issuer Administrative Agent or not less than 15 days' prior notice to the Administrative Agent if 30 days in advance, if such cancellation, reduction, amendment or lapse without renewal is initiated by the Issuer and otherwise not then commercially available at such time as the Issuer becomes aware of, or receives notice of any cancellation, reduction, amendment, or lapse without renewala reasonable cost; and (5) shall, in the case of a Satellite a portion of which is owned by Holdings the Borrower or any of its Restricted Subsidiaries and the balance of which is owned by any Person that is not an Affiliate of either Holdings the Borrower or any of its Restricted Subsidiaries (other than solely by reason of Holdings the Borrower or any Restricted Subsidiary holding a non-controlling an equity interest in such Person), only be required with respect to that portion of the Satellite that is owned by Holdings the Borrower or any of its Restricted Subsidiaries or for which Holdings the Borrower or any of its Restricted Subsidiaries otherwise retains the risk of loss.

Terms of In-Orbit Insurance. Any In-Orbit Insurance procured with respect to such Covered Satellite: (1) shall provide coverage for all of the risks of loss of and damage to such Covered Satellite (other than the risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer pursuant to the terms of the applicable Satellite Purchase Agreement), including for partial loss, constructive total loss and total loss, subject to (x) Acceptable Exclusions and (y) such other exclusions, deductibles or limitations of coverage with respect to Covered Satellites that would otherwise be Excluded Satellites under paragraph (e) of the definition of “Excluded Satellites” but for the commercially reasonable efforts by Holdings and its Restricted Subsidiaries to minimize the exclusions and insurance deductibles; (2) with respect to Covered Satellites, In-Orbit Insurance shall be in an amount not less than 5075% of the Aggregate In-Orbit Insurance Amount (with the allocation of such insurance among such Covered Satellites being in Holdings’ the Canadian Borrower’s discretion; provided that, with respect to each Named Satellite, In-Orbit Insurance shall be in an amount not less than 50% of such Named Satellite’s net book value), it being understood that (i) any Covered Satellite protected by In-Orbit Spare Capacity shall be deemed to be insured for 100% of the net book value of the C-band payload portion of such Covered Satellite, (ii) any Excluded Satellite with one year or less of in-orbit life remaining shall be deemed to be insured for 100% of its net book value (it being understood and agreed that such Excluded Satellite shall be deemed to have “in-orbit life” only for so long as it is maintained in station kept orbit) and (iii) any Excluded Satellite for which Holdings and its Restricted Subsidiaries have procured and maintain In-Orbit Insurance in accordance with clause (1Section 5.02(b)(iii)(B)(1) immediately above shall be deemed to be insured for the amount of such insurance procured and maintained; in the event any loss, damage or failure affecting a Covered Satellite or the expiration and non-renewal of an insurance policy for a Covered Satellite resulting from a claim of loss under such policy that causes a failure to comply with this clause (2), Holdings and its Restricted Subsidiaries shall be deemed to be in compliance with this clause (2) for the 120 days immediately following such loss, damage or failure or policy expiration, provided that Holdings procures such insurance or provides In-Orbit Spare Capacity as necessary to comply with this clause (2) within such 120 day period; (3) shall name the applicable Satellite Purchaser as the named insuredinsured and the Collateral Agent as additional insured and loss payee as its interests may appear (except that, in the case of Covered Satellites that are financed with Indebtedness permitted by Section 6.01, such In-Orbit Insurance shall name the respective holder of such Indebtedness, together with the Collateral Agent, as loss payees as their interests may appear), provided that (x) in the case of any such endorsement as additional insured to be delivered by the Closing Date, the Administrative Agent may consent to such endorsement being delivered at such later date as it deems appropriate in the circumstances (y) in the case of any Covered Satellite that is not owned by a Borrower or any Guarantor or that is subject to a Lien permitted by Section 6.02 (c), (f), (e) (only to the extent permitted by Section 6.02 (c), (f) and (g)) or (g) and the terms of the Indebtedness secured by such Lien prohibit the assignment of, or granting of a security interest in such Covered Satellite, the Collateral Agent shall not be named as a loss payee with respect to such Covered Satellite; (4) shall provide that it will not be cancelled or reduced, amended or allowed to lapse without renewal, except after not less than 15 days’ prior notice to the TrusteeCollateral Agent; provided that if such policy notice provisions are not available on commercially reasonable terms such notice shall be provided to the Trustee Collateral Agent by the Issuer Canadian Borrower not less than 15 days in advance, if such cancellation, reduction, amendment or lapse without renewal is initiated by the Issuer Canadian Borrower and otherwise at such time as the Issuer Canadian Borrower becomes aware of, or receives notice of any cancellation, reduction, amendment, or lapse without renewal; and (5) shall, in the case of a Satellite a portion of which is owned by Holdings or any of its Restricted Subsidiaries and the balance of which is owned by any Person that is not an Affiliate of either Holdings or any of its Restricted Subsidiaries (other than solely by reason of Holdings or any Restricted Subsidiary holding a non-controlling Controlling equity interest in such Person), only be required with respect to that portion of the Satellite that is owned by Holdings or any of its Restricted Subsidiaries or for which Holdings or any of its Restricted Subsidiaries otherwise retains the risk of loss.