Insurance Authorization Letter definition
Insurance Authorization Letter means any letter from the Borrowers directing the carriers of its insurance (other than liability insurance) to pay the proceeds of such insurance to the Administrative Agent, as first loss payee thereunder.
Examples of Insurance Authorization Letter in a sentence
The effectiveness of this Amendment is conditioned upon: (a) Lender’s receipt of an Intellectual Property Security Agreement, Insurance Authorization Letter, and Corporate Resolutions and Incumbency Certificate duly executed by NetSeer; and (b) payment of an amendment fee in the amount of $5,000 plus all of Lender’s out of pocket expenses incurred in connection herewith.
An Insurance Authorization Letter, substantially in the form attached as Exhibit “H” to the Supplement, and a Certificate Concerning Capitalization, substantially in the form attached as Exhibit “I” to the Supplement.