Separation of Interests. All policies (other than in respect to workers compensation insurance) shall insure the interests of the Secured Parties regardless of any breach or violation by Lessee or any other party of warranties, declarations or conditions contained in such policies, any action or inaction of Lessee or others, or any foreclosure relating to the CREZ Assets.
Separation of Interests. All policies (other than in respect to liability or workers compensation insurance) shall insure the interests of the Lessor and the Agent regardless of any breach or violation by the Construction Agent or any other party of warranties, declarations or conditions contained in such policies, any action or inaction of the Construction Agent or others.
Separation of Interests. All policies (other than in respect to liability or workers compensation insurance) shall insure the interests of OPIC regardless of any breach or violation by the Companies or any other Party of warranties, declarations or conditions contained in such policies, any action or inaction of the Companies or others, or any foreclosure relating to the Project or any change in ownership of all or any portion of the Project.
Separation of Interests. All policies (other than in respect to workers compensation insurance) shall insure the interests of TCW regardless of any breach or violation by Company or any other Person of warranties, declarations or conditions contained in such policies, any action or inaction of Company’s or others, or any foreclosure relating to the business or assets of Company or any change in ownership of all or any portion of such business or assets.
Separation of Interests. All policies shall insure the interests of the Lenders regardless of any breach or violation by the Borrower or any other Party of warranties, declarations or conditions contained in such policies, any action or inaction of the Borrowers or others, or any foreclosure relating to the Project or any change in ownership of all or any portion of the Project.
Separation of Interests. All policies of insurance and reinsurance: (i) shall specify that the Borrower (or, in the case of any policies of reinsurance, the insurer) and the Finance Parties comprise more than one insured party each operating as a separate and distinct entity and cover shall apply in the same manner and to the same extent as if individual policies had been issued to each such insured party; (ii) may, subject to paragraph (iii), provide that the relevant insurer or reinsurer shall be entitled to avoid liability to or claim damages from any of the insured parties in circumstances of fraud, deliberate misrepresentation, deliberate non-disclosure or breach of any warranty or condition (a “Vitiating Act”) in such policies committed by that insured party; (iii) shall specify that a Vitiating Act committed by one insured party shall not prejudice the right to indemnity of any other insured party who has an insurable interest and who has not committed a Vitiating Act.
Separation of Interests. All policies shall insure the interests of the Agent and each Funding Party regardless of any breach or violation by the Construction Agent or any other Person of warranties, declarations or conditions contained in such policies, any action or inaction of the Construction Agent or others, or any foreclosure relating to the Leased Property or any change in ownership of all or any portion of the Leased Property.
Separation of Interests. The builders risk policy shall insure the interests of the Lessor regardless of any breach or violation by the Construction Agent or any other Person of warranties, declarations or conditions contained in such policy or any act or omission or negligence of the Construction Agent or others.
Separation of Interests. Subject to the exceptions set forth on Appendix A (if any), all policies shall insure the interests of the Secured Parties regardless of any breach or violation by a Borrower or any other Person of warranties, declarations or conditions contained in such policies, or any action or inaction of a Borrower or others. This provision may be satisfied through the use of an acceptable multi-insured endorsement.
Separation of Interests. All policies shall insure the interests of the Senior Facility Lenders regardless of any breach or violation by the Borrower or any other party of warranties, declarations or conditions contained in such policies, any action or inaction of the Borrower or others, or any foreclosure relating to the Project or any change in ownership of all or any portion of the Project. This section does not apply to the marine cargo survey warranty. This requirement can be met by the use of a mortgagee clause substantially similar to form 438BFU or the multi-insured clause. The construction all risk policy is subject to the multiple insured clause with paragraph 7 deleted.
