Insurance and Insurance Proceeds. (a) The Borrower and each of its Subsidiaries shall maintain insurance with respect to its properties and business and against such casualties and contingencies and in such types and such amounts as shall be in accordance with sound business practices which are standard in the industry and in accordance with any express requirements of Governmental Authorities, where applicable, including the right to self-insure and/or co-insure with respect to any of the insurance required to be maintained by the Borrower pursuant to this paragraph.
Insurance and Insurance Proceeds. If after Closing, Buyer reasonably determines that any Liability that is an Assumed Liability or Loss with respect to any Acquired Asset, Assumed Liability or the Business is covered by any insurance policy of the Company (or any Affiliate of the Company), then Buyer may give a notice to the Company that states such determination and describes the foregoing in reasonable detail. If Buyer gives such a notice, then the following will apply:
Insurance and Insurance Proceeds. Mortgagor's insurance requirements shall be as set forth in Section 11.4 of the Credit Agreement. Mortgagor's rights to insurance proceeds shall be as set forth in Section 7.6 of the Credit Agreement.
Insurance and Insurance Proceeds. The governing instrument may permit the trust to hold one or more policies of insurance on the residence. In addi- tion, the governing instrument may permit the trust to hold, in a separate account, proceeds of insurance payable to the trust as a result of damage to or destruction of the residence. For pur- poses of this paragraph, amounts (other than insurance proceeds payable to the trust as a result of damage to or destruction of the residence) received as a result of the involuntary conver- sion (within the meaning of section 1033) of the residence are treated as proceeds of insurance.
Insurance and Insurance Proceeds. The Company shall keep, or cause to be kept, all insurance policies of Sellers relating to the Business, or equivalent replacements therefor, in full force and effect through the Cut-Off Date. All proceeds of insurance payable (in excess of any deductible, retention or self insurance amount) in respect of any event that occurs on or before the Cut-Off Date, to the extent that the proceeds are for damaged properties or assets that constitute Assets, shall be received by the Company in trust for Buyer and, to the extent the damage to the Assets to which the proceeds pertain has not been repaired or restored or paid for by Sellers, shall be paid over to Buyer at the Closing, or, if no proceeds have been received before the Closing, the Company shall assign any of its claims thereto to Buyer promptly following the Closing Date. Provided that Sellers comply with Sellers' obligations under this Section 7(e), neither the occurrence of any casualty damage nor the payment, receipt or collection of insurance proceeds shall be included or accounted for in any way under the provisions of Section 4(b) or in the determination of Final Net Assets. Subject to the terms of the Company's liability insurance policies, the Company shall use commercially reasonable efforts so that Buyer will have the right, power and authority, in the name of the Company, to make directly to the insurer any request for payment under the Company's liability insurance policies of any claim relating to or arising from an Assumed Liability. Buyer may make such a request for payment only to the extent that a person of ordinary prudence in like circumstances would make a claim under the person's own insurance policy.
Insurance and Insurance Proceeds. (a) Each Grantor shall maintain in full force and effect the insurance policies and programs listed on SCHEDULE 1 hereto or substantially similar policies and programs or other policies and programs as are acceptable to the Secured Party. All such policies and programs shall be maintained with insurers acceptable to the Secured Party. Each certificate and policy relating to Property damage, boiler and machinery and/or business interruption coverage shall contain an endorsement, in form and substance acceptable to the Secured Party, showing loss payable as their interests may appear to the Secured Party, and naming the Secured Party as an additional insured under such policy. Each certificate and policy relating to coverage other than the foregoing shall, if required by the Secured Party, contain an endorsement naming the Secured Party as an additional insured under such policy. Such endorsement or an independent instrument furnished to the Secured Party shall provide that the insurance companies will give the Secured Party at least thirty (30) days' written notice before any such policy or policies of insurance shall be altered adversely to the interests of the Secured Party or canceled and that no act, whether willful or negligent, or default of any Grantor or any other Person shall affect the right of the Secured Party to recover under such policy or policies of insurance in case of loss or damage. In the event any Grantor at any time or times hereafter shall fail to obtain or maintain any of the policies or insurance required herein or to pay any premium in whole or in part relating thereto, then the Secured Party, without waiving or releasing any of the Obligations, or resulting Event of Default, may at any time or times thereafter (but shall be under no obligation to do so) obtain and maintain such policies of insurance and pay such premiums and take any other action with respect thereto which the Secured Party deems advisable. All sums so disbursed by the Secured Party shall be part of the Obligations, secured by the terms of this Agreement.
Insurance and Insurance Proceeds. (A) Borrower shall cause the assets, properties and business of the Borrower Consolidated Group to be insured against such hazards and liabilities, under such coverages and in such amounts, as are customarily maintained by prudent companies similarly situated and under policies issued by insurers of recognized responsibility. Upon request of Collateral Agent, Borrower shall provide (and shall cause the other Members of the Borrower Consolidated Group to provide) Collateral Agent with insurance certificates and copies of insurance policies then in effect (it being agreed that no Member of the Borrower Consolidated Group shall be required to maintain coverages for (i) products liability insurance on Borrowers’ wood treating products, nor (ii) business interruption insurance, except for the Mortgaged Property located in Pueblo, Colorado).
Insurance and Insurance Proceeds. Target shall keep, or cause to be kept, all insurance policies of Target relating to the Companies, or equivalent replacements therefor, in full force and effect through the Closing Date. To the extent that Target has in force any policies of property and casualty insurance insuring the Companies, any proceeds of insurance payable (in excess of any deductible, retention, or self-insurance amount) in respect of any event that occurs from and after the date of this Agreement and on or before the Closing Date shall be received by Target in trust for Buyer and, to the extent the damage to which the proceeds pertain has not been repaired or restored, shall be paid over to Buyer at the Closing, or, if no proceeds have been received before the Closing, Target shall assign any of its claims thereto to Buyer promptly following the Closing Date, and in each such case, the amount of the proceeds shall be included in the determination of Final Net Assets. Subject to the terms of Target’s liability insurance policies, Target shall use commercially reasonable efforts so that Buyer will have the right, power, and authority, in the name of Target, to make directly to the insurer any request for payment under Target’s liability insurance policies of any claim relating to the Companies. Buyer may make such a request for payment only to the extent that a person of ordinary prudence in like circumstances would make a claim under the person’s own insurance policy.
Insurance and Insurance Proceeds. The Borrower shall, and the Borrower shall cause each of its Material Subsidiaries to, maintain insurance with respect to its properties and business and against such casualties and contingencies and in such types and such amounts as shall be in accordance with sound business practices which are standard in the industry and in accordance with any express requirements of LEGAL_1:81779606.19 BMO – BNS - Berkshire –Credit Agreement Governmental Authorities, where applicable, including the right to self-insure or co-insure with respect to any of the insurance required to be maintained by the Borrower pursuant to this paragraph.
Insurance and Insurance Proceeds. Each policy of insurance or reinsurance required to be maintained pursuant to Appendix II to the MPA (or, if applicable, each global property insurance policy maintained by PDC or any of its Affiliates in satisfaction of the insurance requirements set forth in Sections 8.01 and 8.02 of the MPA) will name the Borrower as the named insured and will be endorsed as contemplated in Appendix II of the MPA (but with respect to any global property insurance policy maintained by PDC or any of its Affiliates only in so far as such policy relates to the Borrower). Any claims payments made under such policy(s) will be made as contemplated in Appendix II of the MPA.
