Common use of Environmental Insurance Clause in Contracts

Environmental Insurance. Environmental liability insurance policies, which shall be non-cancelable at any time prior to the Maturity Date, against any and all claims, including, without limitation, unknown environmental hazards requiring remediation as of the date of this Agreement and known environmental conditions not requiring remediation as of the date of this Agreement, in an amount of not less than $5,000,000 per loss or $30,000,000 in the aggregate arising out of or connected with the presence of any Hazardous Materials at the Property. Lender shall be named in such environmental insurance as an additional named insured and the environmental insurance policy shall provide that it shall be assignable to Lender upon a foreclosure or assignment in lieu of foreclosure of the Mortgage.

Environmental Insurance. Environmental liability insurance policies, which shall be non-cancelable at any time prior to the Maturity Date, against any and all claims, including, without limitation, unknown environmental hazards requiring remediation as of the date of this Agreement and known environmental conditions not requiring remediation as of the date of this Agreement, in an amount of not less than $5,000,000 per loss or $30,000,000 10,000,000 in the aggregate arising out of or connected with the presence of any Hazardous Materials at the Property. Lender shall be named in such environmental insurance as an additional named insured and the environmental insurance policy shall provide that it shall be assignable to Lender upon a foreclosure or assignment in lieu of foreclosure of the MortgageSecurity Instrument.