Common use of Insurance Covering Collateral Clause in Contracts

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 9 contracts

Samples: Loan Agreement (American Locker Group Inc), Loan Agreement (Graham Corp), First Amended And (Schmitt Industries Inc)

AutoNDA by SimpleDocs

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for in an amount acceptable to the full replacement cost of the collateral and include a replacement cost endorsementBank. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 4 contracts

Samples: Holding Company Loan Agreement (Intermountain Community Bancorp), Loan Agreement (Game Trading Technologies, Inc.), Loan Agreement (Super Micro Computer, Inc.)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for in an amount acceptable to the full replacement cost of the collateral and include a replacement cost endorsementBank. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 3 contracts

Samples: Credit Agreement (Bowman Consulting Group Ltd.), Loan Agreement (Zynex Inc), Loan Agreement (Graham Corp)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for in an amount acceptable to the full replacement cost of the collateral and include a replacement cost endorsementBank. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 2 contracts

Samples: Loan Agreement (HireQuest, Inc.), Loan Agreement (CUI Global, Inc.)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the this collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form forma acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (American Restaurant Concepts Inc)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateralCollateral. Each insurance policy must be for the full replacement cost of the collateral Collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form reasonably acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Immunomedics Inc)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Thorne Healthtech, Inc.)

Insurance Covering Collateral. To Each of the Borrower and its Subsidiaries shall maintain all risk property damage insurance policies (including without limitation windstorm coverage, coverage and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Premier Exhibitions, Inc.)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the ***Ins covering collateral and include a replacement cost endorsementMC***. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Mechanical Technology Inc

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicableif advisable for the location of the collateral) covering the tangible property comprising the collateral. Each insurance policy must be for in an amount reasonably acceptable to the full replacement cost of the collateral and include a replacement cost endorsementBank. The insurance must be issued by an insurance company reasonably acceptable to the Bank and Bank. Borrower’s primary property insurance policy must include a mortgagee or lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Natures Sunshine Products Inc)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for in an amount acceptable to the full replacement cost of the collateral and include a replacement cost endorsementBank. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank. Each policy shall provide for at least thirty (30) days prior notice to the Bank of any cancellation thereof.

Appears in 1 contract

Samples: Loan Agreement (Gse Systems Inc)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for in an amount acceptable to the full replacement cost of the collateral and include a replacement cost endorsementBank. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Mexco Energy Corp)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral collateral' and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (HF Foods Group Inc.)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicableif advisable for the location of the collateral) covering the tangible property comprising the collateral. Each insurance policy must be for in an amount reasonably acceptable to the full replacement cost of the collateral and include a replacement cost endorsementBank. The insurance must be issued by an insurance company reasonably acceptable to the Bank and Xxxxxxxx’s primary property insurance policy must include a mortgagee or lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Active 696074304v9 Loan Agreement (Lifevantage Corp)

AutoNDA by SimpleDocs

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (R F Industries LTD)

Insurance Covering Collateral. To maintain Maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateralCollateral. Each insurance policy must be for the full replacement cost of the collateral Collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Vocus, Inc.)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, flood coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateralCollateral. Each insurance policy must be for in an amount acceptable to the full replacement cost of the collateral and include a replacement cost endorsementLender. The insurance must be issued by an insurance company acceptable to the Bank Lender and must include a lender’s loss payable endorsement in favor of the Bank Lender in a form acceptable to the BankLender.

Appears in 1 contract

Samples: Term Loan Agreement (BBX Capital, Inc.)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation flood coverage, windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance any Collateral and to cause each such policy must to be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable endorsed to name the Bank as lender loss payee and must include a lender’s loss payable endorsement in favor of the Bank additional insured in a form acceptable to the Bank. Such insurance shall be in form, amounts, coverages and basis reasonably acceptable to the Bank, shall require losses to be paid on a replacement cost basis, and shall be issued by insurance companies acceptable to the Bank.

Appears in 1 contract

Samples: Guaranty and Collateral Agreement (American Rebel Holdings Inc)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance Insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Servotronics Inc /De/)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Air T Inc)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateralCollateral. Each insurance policy must be for the full replacement cost of the collateral Collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank Lender and must include a lender’s loss payable endorsement in favor of the Bank Lender in a form acceptable to the BankLender.

Appears in 1 contract

Samples: Loan Agreement (Xeta Technologies Inc)

Insurance Covering Collateral. To maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s 's loss payable endorsement in favor of the Bank in a form acceptable to the Bank.,

Appears in 1 contract

Samples: Loan Agreement (Vertex Energy Inc.)

Insurance Covering Collateral. To maintain Maintain all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible property comprising the collateralCollateral. Each insurance policy must be for the full replacement cost of the collateral Collateral and include a replacement cost endorsement. The insurance must be issued by an insurance company acceptable to the Bank and must include a lender’s loss payable endorsement in favor of the Bank in a form acceptable to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Versar Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.