Common use of Properties, Business, Insurance Clause in Contracts

Properties, Business, Insurance. The Company shall maintain and cause each of its subsidiaries to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall also maintain in effect "key person" life insurance policies, payable to the Company, on the life of Robexx XxXxxxxx (xx long as he remains an employee of the Company), in the amount of $2,000,000. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against such policy. If requested by Purchasers holding at least a majority of the outstanding Preferred Shares, the Company will add one designee of such Purchasers as a notice party for such policy and shall request that the issuer of such policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premiums or otherwise) or assigned or before any change is made in the beneficiary thereof.

Properties, Business, Insurance. The Company shall maintain ------------------------------- and cause each of its subsidiaries to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall also maintain in effect "key person" life insurance policiespolicy, payable to the Company, on the life of Robexx XxXxxxxx Xxxxxxx X. Xxxx (xx so long as he remains an employee of the Company), in the amount of $2,000,0005 million. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against such policy. If requested by Purchasers holding at least a majority of the outstanding Preferred SharesStock, the Company will add one designee of such Purchasers as a notice party for each such policy and shall request that the issuer of such the policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premiums or otherwise) or assigned or before any change is made in the beneficiary thereof.

Properties, Business, Insurance. The Company shall maintain and cause each of its subsidiaries any subsidiary which it may create to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall also maintain in effect a "key person" life insurance policiespolicy, payable to the Company, on the life of Robexx XxXxxxxx Xxxxxxx X. Xxxxxxxxxxx (xx so long as he remains an employee of the Company), in the amount of $2,000,0001,000,000. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy. If requested by Purchasers holding at least a majority of the outstanding Preferred SharesNotes and Warrants, the Company will add one designee of such Purchasers as a notice party for each such policy and shall request that the issuer of such each policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premiums or otherwise) or assigned or before any change is made in the beneficiary thereof.

Properties, Business, Insurance. The Company shall maintain and cause each of its subsidiaries any subsidiary to maintain as to their respective properties and businessbusinesses, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, situated which insurance shall be deemed by the Company to be sufficient. The Company shall also maintain in effect "key person" life insurance policies, payable to the Company, on the life of Robexx XxXxxxxx each of Axxxxx X. Xxxxxxx and Pxxxxx Xxxxx, Xx. (xx so long as he remains an employee of the Company), in the amount of at least $2,000,0001,000,000. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against such policy. If requested by Purchasers holding at least a majority of the outstanding Preferred SharesInvestors, the Company will add one designee of such Purchasers the Investors as a notice party for such policy and shall request that the issuer of such policy provide such designee with ten (10) days' days notice before such policy is terminated (for failure to pay premiums or otherwise) or assigned or before any change is made in the beneficiary thereof.

Properties, Business, Insurance. The Company shall maintain ------------------------------- and cause each of its subsidiaries to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall also maintain in effect "key person" life insurance policiespolicy, payable to the Company, on the life of Robexx XxXxxxxx Xxxxxxx X. Xxxx (xx so long as he remains an employee of the Company), in the amount of $2,000,0005 million. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against such policy. If requested by Purchasers holding at least a majority of the outstanding Series A Convertible Preferred SharesStock, the Company will add one designee of such Purchasers as a notice party for each such policy and shall request that the issuer of such the policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premiums or otherwise) or assigned or before any change is made in the beneficiary thereof.

Properties, Business, Insurance. The Company shall maintain and cause each of its subsidiaries (if any) to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall also maintain in effect its current "key person" life insurance policies, payable to the CompanyCompany (the "Key Person Insurance"), on the life lives of Robexx XxXxxxxx Xxxxxxxx Xxxxxxxx and Xxxx Xxxx (xx so long as he remains an employee they remain employees of the Company) (collectively, the "Founders"), in the amount of $2,000,000 each, and use its best efforts to obtain not later than November 15, 1998, and thereafter maintain in effect, Key Person Insurance on the lives of the Founders (so long as they remain employees of the Company), in the amount of $2,000,0005,000,000 each. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy. If requested by Purchasers holding at least a majority of the outstanding Preferred SharesStock, the Company will add one designee of such the Purchasers as a notice party for each such policy and shall request that the issuer of such each policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premiums or otherwise) or assigned or before any change is made in the beneficiary thereof.

Properties, Business, Insurance. The Company shall maintain and cause each of its subsidiaries any subsidiary which it may create to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall also maintain in effect a "key person" life insurance policiespolicy, payable to the Companycompany, on the life of Robexx XxXxxxxx Xxxxxxx X. Xxxxxxxxxxx (xx so long as he remains an employee of the Company), in the amount of $2,000,0001,000,000. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy. If requested by Purchasers holding at least a majority of the outstanding Preferred SharesStock and Warrants, the Company will add one designee of such Purchasers as a notice party for each such policy and shall request that the issuer of such each policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premiums or otherwise) or assigned or before any change is made in the beneficiary thereof.