Common use of Non-Vitiation Clause in Contracts

Non-Vitiation. After the Closing Date, all policies of property insurance required to be maintained pursuant to Section 1.1.1, Section 1.1.2, and Section 1.1.3, (to the extent such insurance is procured by the Borrower on behalf of the Borrower) of this Appendix A (as applicable) shall insure the interests of the Collateral Agent regardless of any breach or violation by the Borrower or its Affiliates or others acting on their behalf of any warranties, declarations or conditions contained in such policies, or any action or inaction of those parties. The foregoing may be accomplished by the use of an approved loss payable endorsement, multiple insureds clause or other similar clauses acceptable to the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Avangrid, Inc.)

Non-Vitiation. After the Closing Date, all All policies of property insurance required to be maintained pursuant to Section 1.1.1, Section 1.1.2, and Section 1.1.3, (to the extent such insurance is procured by the Borrower or on behalf of the BorrowerBorrower and/or the Project Company) of this Appendix A (as applicable) shall insure the interests of the Collateral Agent regardless of any breach or violation by the Borrower Borrower, the Project Company or its Affiliates or others acting on their behalf of any warranties, declarations or conditions contained in such policies, or any action or inaction of those parties. The foregoing may be accomplished by the use of an approved loss payable endorsement, multiple insureds clause or other similar clauses acceptable to the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Avangrid, Inc.)