Common use of Additional Provisions Respecting Insurance Clause in Contracts

Additional Provisions Respecting Insurance. (A) All insurance required by Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and satisfactory to the Issuer and the Bank. The company or companies issuing the policies required by Sections 6.3(A) and 6.3(F) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Company is engaged. All policies evidencing such insurance shall name the Company and the Issuer as insureds, policies evidencing insurance as required by Section 6.3(A) shall name the Bank as mortgagee and loss payee, as its interest may appear, and provide for at least thirty (30) days' written notice to the Company, the Issuer and the Bank prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof and shall contain a standard mortgagee endorsement in favor of the Bank as mortgagee and loss payee, as its interest may appear. All insurance required hereunder shall be in form, content and coverage satisfactory to the Issuer and the Bank. Binders satisfactory in form and substance to the Issuer and the Bank to evidence all insurance required hereby shall be delivered to the Issuer and the Bank on or before the Closing Date. The Company shall deliver to the Issuer and the Bank on or before the first Business Day of each calendar year thereafter a binder dated not earlier than the immediately preceding November 15th reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 6.3 and 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Company shall furnish to the Issuer and the Bank evidence that the policy has been renewed or replaced or is no longer required by the Installment Sale Agreement.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 6.3 4.14. hereof shall be procured and maintained in financially sound and generally recognized responsible with insurance companies selected by the Company entity required to procure the same and authorized to write such insurance in the State and satisfactory acceptable to the Issuer and the Bank. The company or companies issuing the policies required by Sections 6.3(A) and 6.3(F) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Company College is engaged. All policies evidencing such insurance coverages required by subsections (b) and (c) of Section 4.14 hereof shall name the Company Issuer, the College and the Issuer Bank as insureds, . All policies evidencing insurance as coverages required by Section 6.3(A4.14(a) and 4.14(d) hereof shall name the Bank College as mortgagee and loss payee, as its interest may appear, and provide for at least thirty (30) days' written notice to the Company, the Issuer and the Bank prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof and shall contain a standard mortgagee endorsement in favor of the Bank as mortgagee and loss payee, as its interest may appearinsured. All insurance required hereunder shall be in form, content and coverage reasonably satisfactory to the Issuer and the BankBank and shall not contain any coinsurance provisions nor blanket coverage with existing policies. Binders satisfactory in form and substance to the Issuer and the Bank to evidence The original policy, or a certificate evidencing insurance, of all insurance required hereby shall be delivered to the Issuer and the Bank on or before the Closing Date. The Company College shall deliver to the Issuer and the Bank Bank, on or before the first Business Day in December of each calendar year thereafter a binder certificate dated not earlier than the immediately preceding November 15th 1st, reciting that there is in full force and effect, with a term covering at least the next succeeding calendar yeartwelve (12) months, insurance in the amounts and of the types required by Sections 6.3 4.14 and 6.4 4.15 hereof. At least thirty (30) days prior to the expiration of any such policy, the Company College shall furnish to the Issuer and the Bank Bank, evidence that the policy has been renewed or replaced or is no longer required by the Installment Sale this Bond Purchase Agreement. THE PARTIES HERETO ACKNOWLEDGE THAT THE ISSUER DOES NOT IN ANY WAY REPRESENT THAT THE INSURANCE SPECIFIED HEREIN, WHETHER IN SCOPE OF COVERAGE OR LIMITS OF COVERAGE, IS ADEQUATE OR SUFFICIENT FOR THE PURPOSES CONTEMPLATED HEREUNDER OR TO PROTECT THE OPERATION OF THE FACILITY OR THE BUSINESS, OPERATIONS OR FINANCIAL CONDITION OF THE COLLEGE.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company Real Estate Owner and authorized to write such insurance in the State and satisfactory and having a Best rating satisfactory to the Issuer and the Bank. The company or companies issuing the policies required by Sections 6.3(A) and 6.3(F) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating GuideAgency. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Company Real Estate Owner is engaged. All policies evidencing such insurance shall name the Company Real Estate Owner as insured and the Issuer Agency as insureds, policies evidencing insurance as required by Section 6.3(A) shall name the Bank as mortgagee and loss payeeadditional insured, as its interest their interests may appear, and provide for at least thirty (30) days' ’ written notice to the Company, the Issuer Real Estate Owner and the Bank Agency prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof thereof. The policy evidencing the insurance required by Section 6.3(c) hereof shall name the Agency as an additional insured on a primary and noncontributory basis with any coverage held by the Agency, if any. All policies evidencing the insurance required by Section 6.3(d)(ii), (iii) and (iv) shall contain name the Agency and the Real Estate Owner as additional insureds on a standard mortgagee endorsement in favor of primary and noncontributory basis with any coverage held by the Bank as mortgagee and loss payeeAgency, as its interest may appearif any. All insurance required hereunder shall be in form, content and coverage satisfactory to the Issuer Agency. Certificates and the Bank. Binders policies satisfactory in form and substance to the Issuer and the Bank Agency to evidence all insurance required hereby shall be delivered to the Issuer and the Bank Agency on or before the Closing Date. The Company Real Estate Owner shall deliver to the Issuer and the Bank Agency on or before the first Business Day of each calendar year thereafter a binder certificate dated not earlier than the immediately preceding November 15th month reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 6.3 and 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Company Real Estate Owner shall furnish to the Issuer and the Bank Agency evidence that the policy has been renewed or replaced replaced, or is no longer required by the Installment Sale this Lease Agreement.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 6.3 4.03 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company Corporate Guarantor and authorized to write such insurance in the State and satisfactory to the Issuer and the BankHolder. The company Corporate Guarantor or companies issuing the policies required by Sections 6.3(A) and 6.3(F4.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Company Corporate Guarantor is engaged. All policies evidencing such the insurance required by Section 4.03 (A) hereof shall name the Company Corporate Guarantor as insured and the Issuer as insureds, policies evidencing insurance as required by Section 6.3(A) shall name the Bank Holder as mortgagee and loss payeepayee under a lender's loss payable endorsement, as its interest their interests may appear, and all policies evidencing the insurance required by Section 4.03 hereof shall provide for at least thirty (30) days' written notice to the Company, the Issuer Corporate Guarantor and the Bank Holder prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof thereof. The insurance required by Sections 4.03(A) and 4.03(D) hereof shall be fully paid for and shall contain a standard non-contributory mortgagee endorsement in favor of the Bank Holder as mortgagee and loss payee, as its interest may appear. All insurance required hereunder shall be in form, form and content and coverage reasonably satisfactory to the Issuer and the BankHolder. Binders Certificates satisfactory in form and substance to the Issuer and the Bank Holder to evidence all insurance required hereby shall be delivered to the Issuer and the Bank Holder on or before the Closing Date. The Company Corporate Guarantor shall deliver to the Issuer and the Bank Holder on or before the first Business Day of each calendar year thereafter a binder certificate dated not earlier than the immediately preceding November 15th December l reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 6.3 4.03 and 6.4 4.04 hereof. At least thirty (30) days prior Prior to the expiration of any such policy, the Company Corporate Guarantor shall furnish to the Issuer and the Bank Holder evidence that the policy has been renewed or replaced or is no longer required by the Installment Sale Agreementhereby.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 6.3 5.03 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company Borrower and authorized to write such insurance in the State and satisfactory to the Issuer and the BankHolder. The company Borrower or companies issuing the policies required by Sections 6.3(A) and 6.3(F5.03(A) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating Guide. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Company Borrower is engaged. All policies evidencing such insurance shall name the Company Borrower as insured and the Issuer as insureds, policies evidencing insurance as required by Section 6.3(A) shall name the Bank Holder as mortgagee and loss payeepayee under a lender's loss payable endorsement, as its interest their interests may appear, and provide for at least thirty (30) days' written notice to the Company, the Issuer Borrower and the Bank Holder prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof thereof. The insurance required by Sections 5.03(A) and 5.03(D) hereof shall be fully paid for and shall contain a standard noncontributory mortgagee endorsement in favor of the Bank Holder as mortgagee and loss payee, as its interest may appear. All insurance required hereunder shall be in form, content and coverage satisfactory to the Issuer and the BankHolder. Binders Certificates satisfactory in form and substance to the Issuer and the Bank Holder to evidence all insurance required hereby shall be delivered to the Issuer and the Bank Holder on or before the Closing Date. The Company Borrower shall deliver to the Issuer and the Bank Holder on or before the first Business Day of each calendar year thereafter a binder certificate dated not earlier than the immediately preceding November 15th December 1 reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 6.3 5.03 and 6.4 5.04 hereof. At least thirty (30) days prior to the expiration of any such policy, the Company Borrower shall furnish to the Issuer and the Bank Holder evidence that the policy has been renewed or replaced or is no longer required by the Installment Sale Agreementhereby.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and satisfactory and having a Best rating satisfactory to the Issuer and the Bank. The company or companies issuing the policies required by Sections 6.3(A) and 6.3(F) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating GuideAgency. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Company is engaged. All policies evidencing such insurance shall name the Company as insured and the Issuer Agency as insureds, policies evidencing insurance as required by Section 6.3(A) shall name the Bank as mortgagee and loss payeeadditional insured, as its interest their interests may appear, and provide for at least thirty (30) days' ’ written notice to the Company, the Issuer Company and the Bank Agency prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof thereof. The policy evidencing the insurance required by Section 6.3(c) hereof shall name the Agency as an additional insured on a primary and noncontributory basis with any coverage held by the Agency, if any. All policies evidencing the insurance required by Section 6.3(d)(ii), (iii) and (iv) shall contain name the Agency and the Company as additional insureds on a standard mortgagee endorsement in favor of primary and noncontributory basis with any coverage held by the Bank as mortgagee and loss payeeAgency, as its interest may appearif any. All insurance required hereunder shall be in form, content and coverage satisfactory to the Issuer Agency. Certificates and the Bank. Binders policies satisfactory in form and substance to the Issuer and the Bank Agency to evidence all insurance required hereby shall be delivered to the Issuer and the Bank Agency on or before the Closing Date. The Company shall deliver to the Issuer and the Bank Agency on or before the first Business Day of each calendar year thereafter a binder certificate dated not earlier than the immediately preceding November 15th month reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 6.3 and 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Company shall furnish to the Issuer and the Bank Agency evidence that the policy has been renewed or replaced replaced, or is no longer required by the Installment Sale this Lease Agreement.

Additional Provisions Respecting Insurance. (A) All insurance required by Section 6.3 hereof shall be procured and maintained in financially sound and generally recognized responsible insurance companies selected by the Company and authorized to write such insurance in the State and satisfactory and having a Best rating satisfactory to the Issuer and the Bank. The company or companies issuing the policies required by Sections 6.3(A) and 6.3(F) shall be rated "A" or better by A.M. Best Co., Inc. in the most recent edition of Best's Key Rating GuideTrustee. Such insurance may be written with deductible amounts comparable to those on similar policies carried by other companies engaged in businesses similar in size, character and other respects to those in which the Company is engaged. All policies evidencing such insurance shall name the Company and the Issuer as insuredsinsureds and the Trustee and the Bank, policies evidencing insurance as required by Section 6.3(A) shall name the Bank as mortgagee security holders and loss payeepayees, as its interest their interests may appear, and provide for at least thirty (30) days' written notice to the Company, the Issuer Issuer, the Trustee and the Bank prior to cancellation, lapse, reduction in policy limits or material change in coverage thereof and thereof. The insurance required by Section 6.3(A) hereof shall contain a standard mortgagee endorsement and a lender's loss payable clause endorsement in favor of the Bank Trustee and the Bank, as mortgagee security holders and loss payeepayees, as its interest their interests may appear. All insurance required hereunder shall be in form, content and coverage satisfactory to the Issuer and the Bank. Binders Certificates satisfactory in form and substance to the Issuer and the Bank to evidence all insurance required hereby shall be delivered to the Issuer Issuer, the Trustee and the Bank on or before the Closing Date. The Company shall deliver to the Issuer and the Bank Trustee on or before the first Business Day of each calendar year thereafter a binder certificate dated not earlier than the immediately preceding November 15th 1 reciting that there is in full force and effect, with a term covering at least the next succeeding calendar year, insurance in the amounts and of the types required by Sections 6.3 and 6.4 hereof. At least thirty (30) days prior to the expiration of any such policy, the Company shall furnish to the Issuer Issuer, the Trustee and the Bank evidence that the policy has been renewed or replaced or is no longer required by the this Installment Sale Agreement.