Common use of Insurance of Collateral; Condemnation Proceeds Clause in Contracts

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating of at least A+, unless otherwise approved by Agent in its discretion) reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreement, each policy shall include satisfactory endorsements (i) showing Agent as loss payee (as its interests may appear in accordance with the Intercreditor Agreement); (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Subject to the Intercreditor Agreement, each Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating Best rating of at least A+, unless otherwise approved by Agent in its reasonable discretion) reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Agent shall agree otherwise Subject to Section 10.1.12 and except as provided in the Intercreditor Agreement, each policy shall include endorsements satisfactory endorsements to Agent (i) showing Agent as lender’s loss payee (as its interests may appear in accordance with the Intercreditor Agreement); (ii) requiring 30 days days’ prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay for any insurance, Agent may, at in its option, but shall not be required todiscretion, procure the insurance and charge Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as provided the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to may settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating of at least A+, unless otherwise approved by Agent in its discretion) reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreement, each policy shall include satisfactory endorsements (i) showing Agent as loss payee (as its interests may appear in accordance with the Intercreditor Agreement); (ii) requiring 30 thirty (30) days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) a. Each Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Best Rating of at least A+A7, unless otherwise approved by Agent in its discretionAgent) reasonably satisfactory to AgentAgent (and Agent agrees that insurance in effect on the Closing Date is satisfactory). Subject All proceeds with respect to the terms of the Intercreditor Agreement, all proceeds Collateral under each policy shall be payable to AgentAgent to be applied as set forth in clause (b) below. From time to time upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searchespolicies. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as additional insured or loss payee (payee, as its interests may appear in accordance with the Intercreditor Agreement)applicable; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companiescompanies for claims in excess of $1,000,000. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to AgentAgent as required hereunder. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating Best rating of at least A+, unless otherwise approved by Agent in its discretion) reasonably satisfactory to Agent; provided, that if Real Estate secures any Obligations, flood hazard diligence, documentation and insurance for such Real Estate shall comply with all Flood Laws or shall otherwise be satisfactory to all Lenders. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors Borrowers shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as loss payee (as its interests may appear in accordance with the Intercreditor Agreement)payee; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Borrower fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors Borrowers therefor. Each Obligor Borrower agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors Borrowers may (i) settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent and (ii) later cancel any insurance purchased by Agent, but only after providing Agent with evidence reasonably satisfactory to Agent that Borrowers have obtained insurance as required by this Agreement. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating Best rating of at least A+, unless otherwise approved by Agent in its discretion) reasonably satisfactory to Agent; provided, that if Real Estate secures any Obligations, flood hazard diligence, documentation and insurance for such Real Estate shall comply with all Flood Laws or shall otherwise be satisfactory to all Lenders. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors Borrowers shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as loss payee (as its interests may appear in accordance with the Intercreditor Agreement)payee; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Borrower fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors Borrowers therefor. Each Obligor Borrower agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.87 117877022_2

Insurance of Collateral; Condemnation Proceeds. (aA) Each Obligor Loan Party shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating of at least A+A-VII, unless otherwise approved by Agent in its discretionthe Administrative Agent) reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all proceeds under each policy shall be payable to Administrative Agent. From time to time upon request, Obligors Loan Parties shall deliver to the Administrative Agent the originals or certified copies of its their insurance policies and updated flood plain searchespolicies. Unless the Administrative Agent shall agree otherwise and except as provided (giving due consideration to what is commercially available in the Intercreditor Agreementinsurance market for the applicable jurisdiction), each policy shall include satisfactory endorsements (ia) showing the Administrative Agent as loss payee (payee, as its interests may appear in accordance with the Intercreditor Agreement)appropriate; (iib) requiring 30 10 days prior written notice to the Administrative Agent (or such shorter period as agreed to by the Administrative Agent) in the event of cancellation of the policy for any reason whatsoever; and (iiic) specifying that the interest of the Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor Loan Party or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Loan Party fails to provide and pay for any insurance, the Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors such Loan Party therefor. Each Obligor Loan Party agrees to deliver to the Administrative Agent, promptly as renderedupon the request of the Administrative Agent, copies of all reports made to insurance companies. While no Event of Default exists, Obligors Loan Parties may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default exists, only the Administrative Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower and Guarantor shall (and shall cause each other Loan Party to) maintain insurance with respect to the all tangible items of Collateral, covering casualty, hazard, public liability, theft, malicious mischief, flood and such other risks, in such amounts, with endorsements such endorsements, and with such insurers (with a Best’s Financial Strength rated A or better by A.M. Best Rating of at least A+, unless otherwise approved by Agent in its discretionGuide) as are reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors Loan Parties shall deliver to Agent the originals certificates, policies or certified copies endorsements as Agent shall reasonably require as proof of its such insurance policies and any updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as sole loss payee (or additional insured, as its interests may appear in accordance with the Intercreditor Agreement)appropriate; (ii) requiring 30 thirty (30) days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Loan Party or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Loan Party fails to provide and pay for any such insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors Borrowers therefor. Each Obligor Loan Party agrees to deliver to Agent, promptly as rendered, copies of all claim reports made to insurance companiescompanies where the claim made is in excess of $500,000. While no Event of Default exists, Obligors Loan Parties may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (ai) Each Obligor Borrower shall maintain and pay for insurance with respect to the upon all Collateral, wherever located, covering casualty, hazard, public liability, theft, malicious mischief, flood and such other risks, risks in amounts, with endorsements such amounts (subject to current deductibles of $250,000) and with insurers (with a Best’s Financial Strength Rating of at least A+, unless otherwise approved by Agent in its discretion) such insurance companies as are reasonably satisfactory to Agent. Subject to Schedule 7.1.2 describes all insurance of Borrower in effect on the terms of the Intercreditor Agreement, all date hereof. All proceeds payable under each such policy shall be payable to AgentAgent for application to the Obligations. From time to time upon request, Obligors Borrower shall deliver to Agent the originals or certified copies of its insurance such policies and updated flood plain searches. Unless to Agent shall agree otherwise and except as provided in the Intercreditor Agreementwith lender's loss payable endorsements reasonably satisfactory to Agent, each policy shall include satisfactory endorsements (i) showing naming Agent as sole lender's loss payee (payee, mortgagee, assignee or additional insured, as its interests may appear in accordance with appropriate. Each policy of insurance or endorsement shall contain a clause requiring the Intercreditor Agreement); (ii) requiring insurer to give not less than 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; whatsoever and (iii) a clause specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor Property or by the occupation of the premises for purposes more hazardous than are permitted by the said policy. If any Obligor Borrower fails to provide and pay for any such insurance, Agent may, at its option, but shall not be required to, procure the insurance same and charge Obligors Borrower therefor. Each Obligor Borrower agrees to deliver to Agent, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies. While For so long as no Event of Default exists, Obligors may Borrower shall have the right to settle, adjust or and compromise any claim with respect to any insurance maintained by Borrower provided that all proceeds thereof are applied in the manner specified in this Agreement, and Agent agrees promptly to provide any necessary endorsement to any checks or drafts issued in payment of any such claim, as long as the proceeds are delivered to Agent. If At any time that an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims, Agent shall have all rights and remedies with respect to such policies of insurance as are provided for in this Agreement and the other Loan Documents; provided, that Agent shall use reasonable efforts to consult with Borrower regarding such settlement, adjustment or compromise but shall have no liability to Borrower for Agent's failure to do so.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor The Borrower and each Guarantor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood Collateral and other risksthe Properties and businesses of the Borrower and the Subsidiaries, in amountseach case, with endorsements financially sound and reputable insurance companies insurance on all such property and against all such risks as is consistent and in accordance with insurers (with a Best’s Financial Strength Rating of at least A+, unless otherwise approved by Agent industry practice for companies similarly situated owning similar properties and engaged in its discretion) reasonably satisfactory to Agent. Subject to similar businesses as the terms of the Intercreditor Agreement, all proceeds under each policy shall be payable to AgentBorrower. From time to time upon Administrative Agent’s reasonable request, Obligors the Borrower and each Guarantor shall promptly deliver to Administrative Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Administrative Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include endorsements reasonable satisfactory endorsements to Administrative Agent (i) showing Administrative Agent as additional insured or loss payee (as its interests may appear in accordance with the Intercreditor Agreement)payee; (ii) to the extent available requiring 30 days prior written notice to Administrative Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) to the extent available specifying that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of the Borrower, any Obligor Guarantor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If the Borrower or any Obligor Guarantor fails to provide and pay for any insuranceinsurance required by this Section, Administrative Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors the Borrower therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors the Borrower and each Guarantor may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to AgentAdministrative Agent to the extent required by Section 5.3.1(a). If an Event of Default exists, only Administrative Agent shall be authorized to settle, adjust and compromise such claims, in any case subject to the Intercreditor Agreement.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating Best rating of at least A+, unless otherwise approved by Agent in its discretion) reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to AgentAgent as additional insured and/or loss payee. From time to time upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searchespolicies. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreement, each Each policy shall include endorsements reasonably satisfactory endorsements to Agent (i) showing Agent as lender’s loss payee (as its interests may appear in accordance with the Intercreditor Agreement); (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoeverpayee; and (iiiii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay for any insurance, Agent may, at in its option, but shall not be required todiscretion, procure the insurance and charge Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as provided the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to may settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral, covering casualty, hazard, public liability, theft, malicious mischief, flood and other riskscauses of loss, in amounts, on policy forms, with endorsements deductibles, limits, retentions and endorsements, and with insurers (with a Best’s Financial Strength Best Rating of at least A+A-7, unless otherwise approved by Agent Agent), in its discretion) reasonably each case satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors Borrower shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall be primary without right of contribution from any other insurance that may be carried by Borrower or Agent, and include satisfactory endorsements (i) showing Agent as sole loss payee (or additional insured, as its interests may appear in accordance with the Intercreditor Agreement)appropriate; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Borrower fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors Borrower therefor. Each Obligor Borrower agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors Borrower may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain property and casualty and third party liability insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, Collateral in amounts, with endorsements and with insurers (with a Best’s Financial Strength Best Rating of at least A+A7, unless otherwise approved by Agent in its discretionAgent) reasonably satisfactory to Agent. Subject All proceeds relating to the terms or arising out of the Intercreditor Agreement, all proceeds a loss or claim with respect to Collateral under each property and casualty policy shall be payable to Agent. From time to time upon request, Obligors Borrowers shall deliver to Agent the originals or certified copies of its property and casualty liability insurance policies policies. Prior to the earlier of (i) March 31, 2008 and updated flood plain searches. Unless (ii) the making of any Loans or issuance of any Letters of Credit, unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each property and casualty policy shall include satisfactory endorsements (i) showing Agent as sole loss payee (or additional insured, as its interests may appear in accordance with the Intercreditor Agreement)appropriate; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. Upon request, Borrowers shall deliver to Agent originals or certified copies of third party liability insurance policies and certificates of insurance evidencing third party liability coverage naming Agent as an additional insured and requiring 30 days’ prior written notice to Agent of any cancellation. If any Obligor Borrower fails to provide and pay for any required property and casualty or third party liability insurance, Agent may, at its option, but shall not be required to, procure the such insurance and charge Obligors Borrowers therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While During any period that no Event of Default exists, Obligors Borrowers may settle, adjust or compromise any insurance claimclaim relating to or arising out of a loss or claim with respect to Collateral, as long as the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s 's Financial Strength Rating of at least A+A_ VII, unless otherwise approved by Agent Agent) in its discretion) reasonably satisfactory to Agentaccordance with general practices of businesses engaged in similar activities in similar geographic areas. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to AgentAgent for application to the Obligations. From time to time upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searchespolicies. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as lender loss payee (as its interests may appear in accordance with the Intercreditor Agreement)payee; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the PropertyCollateral, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companiescompanies in respect of claims or disputes in respect of coverage in excess of $250,000. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to AgentAgent for application to the Obligations. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Loan Party shall maintain insurance with respect to the Collateral, covering casualty, hazard, public liability, theft, malicious mischief, flood and such other risks, in such amounts, with endorsements such endorsements, and with such insurers (with a Best’s Financial Strength Rating of at least A+, unless otherwise approved by Agent in its discretion) as are reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all All net proceeds under each policy shall be payable to AgentAgent to the extent necessary to repay the then current amount of Obligations outstanding. From time to time upon request, Obligors Loan Parties shall deliver to Agent the originals certificates, policies or certified copies endorsements as Agent shall reasonably require as proof of its such insurance policies and any updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as sole loss payee (or additional insured, as its interests may appear in accordance with the Intercreditor Agreement)appropriate; (ii) requiring 30 thirty (30) days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Loan Party or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Loan Party fails to provide and pay for any such insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors Borrowers therefor. Each Obligor Loan Party agrees to deliver to Agent, promptly as rendered, copies of all claim reports made to insurance companies. While no Event of Default exists, Obligors Loan Parties may settle, adjust or compromise any insurance claim, as long as the net proceeds are delivered to AgentAgent to the extent necessary to repay the then current amount of Obligations outstanding. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral, covering casualty, hazard, public liability, theft, malicious mischief, flood and such other risks, in amountssuch amounts as are usually insured against by companies of a similar size engaged in similar businesses in the same geographic area, with endorsements and with insurers (with a Best’s Financial Strength Rating such insurance companies of at least A+, unless otherwise approved by Agent in its discretion) standing and reputation no less favorable than those companies reflected on Schedule 8.6.2 or such other insurer as is reasonably satisfactory to Agent. Subject to the terms of the Intercreditor Agreement, all proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors Borrowers shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searchesto Agent. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as lender loss payee (or additional insured, as its interests may appear in accordance with the Intercreditor Agreement)appropriate; (ii) requiring 30 thirty (30) days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoeverwhatsoever other than non-payment of premiums (in which case ten (10) days prior written notice shall be required); and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Borrower fails to provide and pay for any such insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors Borrowers therefor. Each Obligor Borrower agrees to deliver to Agent, promptly as rendered, copies of all material reports made in any reporting forms to insurance companies. While no Event of Default exists, Obligors Borrowers may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to AgentAgent or otherwise reinvested pursuant to this Agreement. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor Borrower shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating of at least A+A_ VII, unless otherwise approved by Agent in its discretionAgent) reasonably satisfactory to Agent, as Agent’s interest may appear. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to Agent. From time to time upon request, Obligors Borrowers shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searches. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as loss payee (as its interests may appear in accordance with the Intercreditor Agreement)payee; (ii) requiring 10 days prior written notice to Agent (via electronic mail) in the event of cancellation of the policy for nonpayment of premiums and 30 days prior written notice to Agent in the event of cancellation of the policy for any other reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor Borrower fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors Borrowers therefor. Each Obligor Borrower agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companies. While no Event of Default exists, Obligors Borrowers may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.

Insurance of Collateral; Condemnation Proceeds. (a) Each Obligor shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with insurers (with a Best’s Financial Strength Rating of at least A+A_ VII, unless otherwise approved by Agent Agent) in its discretion) reasonably satisfactory to Agentaccordance with general practices of businesses engaged in similar activities in similar geographic areas. Subject to the terms of the Intercreditor Agreement, all All proceeds under each policy shall be payable to AgentAgent for application to the Obligations. From time to time upon request, Obligors shall deliver to Agent the originals or certified copies of its insurance policies and updated flood plain searchespolicies. Unless Agent shall agree otherwise and except as provided in the Intercreditor Agreementotherwise, each policy shall include satisfactory endorsements (i) showing Agent as lender loss payee (as its interests may appear in accordance with the Intercreditor Agreement)payee; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of any Obligor or the owner of the PropertyCollateral, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Obligor fails to provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Obligors therefor. Each Obligor agrees to deliver to Agent, promptly as rendered, copies of all reports made to insurance companiescompanies in respect of claims or disputes in respect of coverage in excess of $250,000. While no Event of Default exists, Obligors may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to AgentAgent for application to the Obligations. If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise such claims.