Common use of Misappropriation Clause in Contracts

Misappropriation. The insurance companies and coverages maintained by Borrower and its Subsidiaries as of the date hereof are satisfactory to Agent as of such date. All such policies of insurance shall be in such amounts and with such insurance companies as are reasonably satisfactory to Agent. Borrower shall deliver copies of all such policies to Agent with a satisfactory lender's loss payable endorsement naming Agent as sole loss payee or additional insured, as appropriate. Each policy of insurance or endorsement shall contain a clause requiring the 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.