Insurance for Own Account. Nothing in this Annex shall limit or prohibit (i) any Grantor from maintaining the policies of insurance required under Appendix I of this Annex with higher coverage than those specified in Appendix I, or (ii) the Collateral Agent (without a duty to do so) or any other Additional Insured from obtaining insurance, upon the occurrence of an Event of Default, at the applicable Grantor’s expense, for its own account (and any proceeds payable under such separate insurance shall be payable as provided in the policy relating thereto); provided, however, that no insurance may be obtained or maintained that would limit or otherwise adversely affect the coverage of any insurance required to be obtained or maintained by any Grantor pursuant to this Annex and Appendix I of this Annex.
Appears in 4 contracts
Samples: Security Agreement (Alaska Air Group, Inc.), Patent Security Agreement (Sun Country Airlines Holdings, Inc.), Security Agreement (Alaska Air Group, Inc.)
Insurance for Own Account. Nothing in this Annex shall limit or prohibit (i) any Grantor Grantor’s from maintaining the policies of insurance required under Appendix I of this Annex with higher coverage than those specified in Appendix I, or (ii) the Collateral Agent (without a duty to do so) or any other Additional Insured from obtaining insuranceobtaining, upon the occurrence of an Event of Default, at the applicable Grantor’s Grantors’ expense, insurance for its own account (and any proceeds payable under such separate insurance shall be payable as provided in the policy relating thereto); provided, however, that no insurance may be obtained or maintained that would limit or otherwise adversely affect the coverage of any insurance required to be obtained or maintained by any Grantor pursuant to this Annex and Appendix I of this Annex.
Appears in 4 contracts
Samples: Security Agreement (Alaska Air Group, Inc.), Security Agreement (Alaska Air Group, Inc.), Patent Security Agreement (Sun Country Airlines Holdings, Inc.)
