Common use of Acquisition and Maintenance Clause in Contracts

Acquisition and Maintenance. Borrower, at Borrower's expense, shall keep and maintain the Collateral insured against loss or damage by fire, theft, explosion, sprinklers and all other hazards and risks ordinarily insured against by other owners who use such properties in similar businesses for the full insurable value thereof. Borrower shall also keep and maintain business interruption insurance and public liability and property damage insurance relating to Borrower's ownership and use of the Collateral. All such policies of insurance shall be in such form, with such companies, and in such amounts and with such deductibles as may be satisfactory to Bank. Borrower shall deliver to Bank certified copies of such policies of insurance or certificates from the issuer of such insurance certifying to Bank in writing that such insurance has been obtained and is in full force and effect and evidence of the payments of all premiums therefor.