Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it shall not carry insurance required by Section 6.3 hereof, it shall pay promptly to the Trustee for application in accordance with the provisions of Section 6.8 hereof, such amount as would have been received as Net Proceeds by the Trustee under the provisions of Section 6.8 hereof had such insurance been carried to the extent required.
Appears in 3 contracts
Samples: Loan Agreement (Medical Action Industries Inc), Loan Agreement (Lunn Industries Inc /De/), Loan Agreement (Heico Corp)
Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it the Borrower shall not carry insurance required by Section 6.3 4.3 hereof, it shall pay promptly to the Trustee Bank, for application in accordance with the provisions of Section 6.8 4.8(b)(ii) hereof, such amount as would have been received as Net Proceeds (as hereinafter defined) by the Trustee Bank, under the provisions of Section 6.8 4.8(b)(ii) hereof had such insurance been carried to the extent required.
Appears in 2 contracts
Samples: Letter of Credit and Reimbursement Agreement (Medical Action Industries Inc), Letter of Credit and Reimbursement Agreement (Chesapeake Biological Laboratories Inc)
Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it shall not carry insurance required by Section Sections 6.3 and 6.4 hereof, it shall pay promptly to the Trustee for application in accordance with the provisions of Section 6.8 6.9 hereof, such amount as would have been received as Net Proceeds by the Trustee under the provisions of Section 6.8 6.9 hereof had such insurance been carried to the extent required.
Appears in 1 contract
Samples: Loan Agreement (Elxsi Corp /De//)
Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it shall not carry insurance required by Section SECTION 6.3 hereof, it shall pay promptly to the Trustee for application in accordance with the provisions of Section SECTION 6.8 hereof, such amount as would have been received as Net Proceeds by the Trustee under the provisions of Section SECTION 6.8 hereof had such insurance been carried to the extent required.
Appears in 1 contract
Samples: Loan Agreement (Genlyte Group Inc)
Borrower to Make up Deficiency in Insurance Coverage. The Borrower agrees that to the extent that it shall not carry insurance required by Section 6.3 hereof, in the event of any casualty required to be covered by such insurance, it shall pay promptly to the Trustee for application in accordance with the provisions of Section 6.8 hereof, such amount as would have been received as Net Proceeds by the Trustee under the provisions of Section 6.8 hereof had such insurance been carried to the extent required.
Appears in 1 contract
