Common use of UCC Insurance Clause in Contracts

UCC Insurance. Lender shall have received one or more UCC “Eagle-9” title insurance policies insuring the equity pledges of the Loan Documents, subject only to usual and customary permitted exceptions and other exceptions reasonably approved by Lender, and a copy of the owner’s title insurance policy for each non-mortgaged Property, with a mezzanine endorsement or the equivalent in favor of Lender if available (except that Borrower shall not be required to purchase new or updated owners’ policies).