Borrower's Insurance. Subject to approval by OCII's Deputy Director for Finance and Administration of the insurers and policy forms, Borrower must obtain and maintain, or cause to be obtained and maintained, insurance and bonds as set forth in Exhibit F throughout the term of this Agreement at no expense to OCII.
Borrower's Insurance. The Borrowers represent that the Borrowers are self-insured for any loss or damage to the Inventory, but in the event that the Borrowers shall incur an otherwise insurable loss in any single occurrence of Five Hundred Thousand Dollars ($500,000.00) or more with respect to the Inventory, then with respect to the Inventory, the Borrowers shall exercise good faith best efforts to promptly seek and obtain casualty insurance in an amount equal to at least Ten Million Dollars ($10,000,000.00), umbrella insurance in an amount equal to at least Ten Million Dollars ($10,000,000.00) and comprehensive insurance in an amount equal to at least Ten Million Dollars ($10,000,000.00) per occurrence and in the aggregate. The Borrowers shall provide each Lender, or each Lender’s designee, with certificates as to policies of such insurance covering the Inventory together with evidence that the premium therefore has been paid and that the Lenders have been named as loss payee and additional insured on such policies. The proceeds of loss under such policies are hereby assigned to the Lenders. If the Lenders determine that the Borrowers have not maintained the required insurance coverage for the Inventory, the Lenders may, but have no obligation to, purchase a policy or policies of insurance (through forced placement or otherwise) any may treat amounts so expended as additional Obligations. The risk of loss or damage to the Collateral shall at all times remain solely with the Borrowers.
Borrower's Insurance. Commencing on the date hereof, Borrower must obtain and maintain, or cause to be obtained and maintained, insurance and bonds as set forth in Exhibit G throughout the term of this Agreement at no expense to OCII.
Borrower's Insurance. The Borrower will maintain at a minimum (with respect to itself and each of its Subsidiaries):
Borrower's Insurance. 7.1. Borrower covenants and agrees that, on and after the date hereof, until payment in full of the Obligations and termination of this Agreement, Borrower shall obtain and maintain in effect, at Borrower’s sole expense, policies of insurance as more specifically set forth on Exhibit D annexed hereto, in form and substance satisfactory to Lender, each of which shall have ratings of at least “A-VIII” by A.M. Best Company, and shall otherwise be approved by Lender.
Borrower's Insurance. The Borrower will obtain and maintain insurance with respect to the Property as required by the Mortgage including but not limited to:
Borrower's Insurance. In the event that either (a) a Borrower's casualty and liability insurance coverage related to the Property cannot be assigned to Buyer, or (b) Lender or Buyer elects to obtain separate insurance coverage and instructs Borrower to cancel its insurance related to the Property as of the Closing Date, Borrower shall assign to Lender all rights of Borrower to a refund, if any, of any prepaid insurance premiums refundable upon such cancellation.
Borrower's Insurance. At Borrowers’ expense, the Borrowers shall maintain insurance covering the Collateral in amount, adequacy and scope satisfactory in all respects to Agent, in its sole discretion, on behalf of all Lenders. All such policies of insurance shall be with responsible and reputable insurance companies acceptable to Agent. The Borrowers shall provide Agent, on behalf of the Lenders, with certificates as to policies of such insurance covering the Inventory together with evidence that the premium therefor has been paid and that the Agent and the Lenders, as their interests may appear, have been named as loss payee and additional insured on such policies. The proceeds of loss under such policies are hereby assigned to the Agent, on behalf of the Lenders. If Borrowers fail to maintain such insurance, Agent may arrange for such insurance, but at Borrowers’ expense and without any responsibility on Agent’s part for obtaining the insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection of claims and Agent may treat any amounts expended by it in regard to obtaining such insurance as Protective Advances. Upon the occurrence and during the continuance of an Event of Default, Agent shall have the sole right to file claims under any property and general liability insurance policies in respect of the Collateral, to receive, receipt and give acquittance for any payments that may be payable thereunder, and to execute any and all endorsements, receipts, releases, assignments, reassignments or other documents that may be necessary to effect the collection, compromise or settlement of any claims under any such insurance policies. The risk of loss or damage to the Collateral shall at all times remain solely with the Borrowers.
Borrower's Insurance. From and after taking possession of the Property, Borrower shall carry and maintain, at its sole cost and expense, the following types and amounts of insurance: Insurance Type Amount of Coverage Risk Coverage -------------- ------------------ ------------- Commercial $1,000,000 per bodily injury General occurrence and (including Liability $2,000,000 per site liquor in the aggregate liability coverage) property damage and contractual liability Property Full replacement "all risk", Damage value including fire, earthquake, sprinkler damage, with inflation-guard,vandalism and malicious mischief endorsements Business Not less than 6 loss of Interruption installments of earnings by Minimum Monthly Rent, at least the if applicable, perils and 6 loan payments of fire and under the Note lightning, extended coverage, vandalism, malicious mischief and sprinkler leakage Worker's as required by law compensation Flood to the extent of damage caused Insurance current coverage by flooding
Borrower's Insurance. For the period beginning on the date the work on the Project commences and ending on the date that all of Borrower’s obligations under this Agreement and all Notes are fully fulfilled, Borrower, at its expense, shall cause the Project to be insured for such amounts and against such hazards and risks as Lender may from time to time require, including: (i) special form replacement cost insurance for damage to the Equipment, Materials and any other part of the Project, which insurance shall not be less than the amount set forth in the Minimum Insurance Requirements; (ii) commercial general liability insurance insuring against liability for property damage, death and bodily injury and any other liability resulting from the transportation, construction, ownership, possession, use, operation, performance, maintenance, storage, repair or reconstruction of the Equipment, Materials and any other part of the Project which insurance as shall not be less than the amount set forth in the Minimum Insurance Requirements; (iii) environmental insurance, including pollution, in an amount not less than the amount set forth in the Minimum Insurance Requirements; (iv) such other insurance, including business interruption insurance, set forth in the Minimum Insurance Requirements; and (v) such other insurance coverage as may be customarily and reasonably required by Lender, following consultation with Borrower.
