Common use of Insurance of Collateral Clause in Contracts

Insurance of Collateral. Borrower agrees to maintain and pay for insurance upon all Collateral wherever located, in storage or in transit in vehicles, including goods evidenced by documents, covering casualty, hazard, public liability and such other risks and in such amounts and with such insurance companies as shall be reasonably satisfactory to Lender to insure Lender's interest in the Collateral. Borrower shall deliver the originals of such policies to Lender with satisfactory endorsements naming Lender as loss payee and as mortgagee pursuant to a standard mortgagee clause. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or owner of the Property nor by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance, Lender may, at Borrower's expense, procure the same, but shall not be required to do so. Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower agrees to shall maintain and pay for insurance upon all Collateral wherever located, in storage or in transit in vehicles, including goods evidenced by documentslocated and with respect to Borrower's business, covering casualty, hazard, public liability and such other risks and in such amounts and with such insurance companies as shall be are reasonably satisfactory to Lender to insure Lender's interest in the Collateral. Borrower shall deliver the originals of such policies to Lender with 438-BFU (NS) lender's loss payable endorsements or other satisfactory endorsements lender's loss payable endorsements, naming Lender as loss payee and additional insured, as mortgagee pursuant to a standard mortgagee clauseappropriate. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or the owner of the Property nor or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance, Lender may, at Borrower's expense, procure the sameits option, but shall not be required to do soto, procure the same and charge Borrower therefor. Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower agrees to shall maintain and pay for insurance upon all Collateral wherever located, in storage or in transit in vehicles, including goods evidenced by documentslocated and with respect to Borrower's business, covering casualty, hazard, public liability and such other risks and in such amounts and with such insurance companies as shall be are reasonably satisfactory to Lender to insure Lender's interest in the CollateralAgent. Borrower shall deliver the originals or certified copies of such policies to Lender Agent with satisfactory endorsements naming Lender lender's loss payable endorsements, which policies shall name Agent as sole loss payee and payee, assignee or additional insured, as mortgagee pursuant to a standard mortgagee clauseappropriate, in each case, for the benefit of the Lenders. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 thirty (30) days prior written notice to Lender Agent in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender Agent shall not be impaired or invalidated by any act or neglect of Borrower or the owner of the Property nor or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance, Lender Agent may, at Borrower's expense, procure the sameits option, but shall not be required to do soto, procure the same and charge Borrower therefor. Borrower agrees to deliver to LenderAgent, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Borrower agrees to shall maintain and pay for insurance upon all Collateral wherever located, in storage or in transit in vehicles, including goods evidenced by documentslocated and with respect to Borrower's business, covering casualty, hazard, public liability, product liability and such other risks and in such amounts and with such insurance companies as shall be with a Bests rating of A or better and that are otherwise reasonably satisfactory to Lender to insure Lender's interest in the Collateral. Borrower shall deliver the originals of such policies to Lender with satisfactory endorsements lender's loss payable endorsements, naming Lender as loss payee and payee, assignee or additional insured, as mortgagee pursuant to a standard mortgagee clauseappropriate. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of Borrower or the owner of the Property nor or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If Borrower fails to provide and pay for such insurance, Lender may, at Borrower's expense, procure the sameits option, but shall not be required to do soto, procure the same and charge Borrower therefor. Borrower agrees to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.

Insurance of Collateral. Each Borrower agrees to shall maintain and pay for insurance upon all Collateral wherever located, in storage or in transit in vehicles, including goods evidenced by documentslocated and with respect to such Borrower's business, covering casualty, hazard, public liability liability, flood and such other risks and in such amounts and with such insurance companies as shall be are reasonably satisfactory to Lender to insure Lender's interest in the Collateral. Borrower Borrowers shall deliver the originals or copies of such policies to Lender with lender's loss payable endorsements, in form satisfactory endorsements to Lender, naming Lender as sole loss payee and payee, assignee or additional insured, as mortgagee pursuant to a standard mortgagee clauseappropriate. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 30 (30) days prior written notice to Lender in the event of cancellation of the policy for any reason whatsoever and a clause specifying that the interest of Lender shall not be impaired or invalidated by any act or neglect of any Borrower or the owner of the Property nor or by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Borrower fails to provide and pay for such insurance, Lender may, at Borrower's expense, procure the sameits option, but shall not be required to do soto, procure the same and charge the Borrowers therefor. Borrower agrees Borrowers agree to deliver to Lender, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies.