Collection of claims. Borrower will promptly advise DFS of any insured casualty and Borrower agrees that DFS may direct all insurance proceeds therefrom to be paid directly to DFS to the extent that such loss is not adequately insured under an insurance policy which names DFS as a loss payee, and hereby appoints DFS its attorney-in-fact for such purpose.
Appears in 7 contracts
Samples: Credit and Security Agreement (Elcom International Inc), Credit and Security Agreement (Creative Computers Inc), Loan and Security Agreement (Rdo Equipment Co)
Collection of claims. Borrower will promptly advise DFS of any insured casualty in excess of $500,000 and Borrower agrees that DFS may direct all insurance proceeds therefrom to be paid directly to DFS to the extent that such loss is not adequately insured under an insurance policy which names DFS as a loss payee, and hereby appoints DFS its attorney-in-fact for such purpose.
Appears in 2 contracts
Samples: Credit and Security Agreement (Pomeroy Select Integration Solutions Inc), Credit and Security Agreement (Pomeroy Computer Resources Inc)
Collection of claims. Borrower will promptly advise DFS -------------------- of any insured casualty in excess of $500,000 and Borrower agrees that DFS may direct all insurance proceeds therefrom to be paid directly to DFS to the extent that such loss is not adequately insured under an insurance policy which names DFS as a loss payee, and hereby appoints DFS its attorney-in-fact for such purpose.
Appears in 1 contract
Samples: Credit and Security Agreement (Pomeroy Computer Resources Inc)
Collection of claims. Borrower Dealer will promptly advise DFS of any insured casualty and Borrower Dealer agrees that DFS may direct all insurance proceeds therefrom to be paid directly to DFS to the extent that such loss is not adequately insured under an insurance policy which names DFS as a loss payee, and hereby appoints DFS its attorney-in-fact for such purpose.
Appears in 1 contract
