Insurances – general. Each of the Borrowers and the Guarantor shall maintain appropriate insurance cover with respect to its properties, assets and operations of such types, in such amounts and against such risks as are maintained by prudent companies carrying on the same or substantially similar business. All insurances must be with financially sound and reputable insurance companies, funds or underwriters.
Insurances – general. 8.1.7 Add the following new clause 8.1.7
Insurances – general. Each Obligor shall maintain appropriate insurance cover with respect to its properties, assets and operations of such types, in such amounts and against such risks as are maintained by prudent companies carrying on the same or substantially similar business. All insurances must be with financially sound and reputable insurance companies, funds or underwriters.
Insurances – general. 14.1 The Servicer will administrate the arrangements for insurance which relate to the Mortgage Loans or the business of the CBC.
Insurances – general. 13.1 The Administrator shall administer the arrangements for insurance to which the Mortgages Trustee is a party or in which either the Seller or the Mortgages Trustee has an interest and which relate to the Mortgage Loans, the Mortgages, the Mortgaged Properties and/or the business of the Mortgages Trustee including (without limitation) the Insurance Contracts. Neither the Administrator nor the Seller shall amend or cancel any of the Insurance Contracts without the prior written consent of the Mortgages Trustee (except for annual renewals).
