Casualty and Liability Insurance. Borrower, at its expense or the expense of the applicable Tenant, shall maintain and deliver, or cause to be maintained and delivered, to Administrative Agent the policies of insurance set forth on Exhibit I attached hereto with respect to the Collateral and the Subsidiary Guarantors. All insurance policies shall (i) be issued by an insurance company licensed or authorized to do business in the state where the property is located having a rating of “A-” VIII or better by A.M. Best Co., in Best’s Rating Guide, (ii) name “JPMorgan Chase Bank, N.A., as administrative agent” as additional insureds on all liability insurance and as mortgagee and loss payee on all ISO Special Form or All-Risk Property insurance, (iii) be endorsed to show that Borrower’s insurance shall be primary and all insurance carried by Administrative Agent and the Lenders is strictly excess and secondary and shall not contribute with Borrower’s insurance, (iv) provide that Administrative Agent is to receive thirty (30) days written notice prior to non-renewal or cancellation, (v) be evidenced by a certificate of insurance to be provided to Administrative Agent or, if the applicable Tenant does not customarily provide certificates of insurance, such other form of document customarily provided by the applicable Tenant, along with a copy of the policy for the ISO Special Form or All-Risk Property coverage, (vi) include either policy or binder numbers on the Accord form, and (vii) be in form and amounts as those policies described in Exhibit I or otherwise reasonably acceptable to Administrative Agent. Borrower acknowledges that Borrower has been advised by Administrative Agent of, and agrees that the requirements of this Section 6.8 and Exhibit I are in compliance with the following legal limitation regarding hazard insurance coverage pursuant to Arizona Revised Statutes Section 44-1208: “. . . . for any loan that is secured by real property, a person shall not require as a condition of the loan that the borrower obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer.”
Casualty and Liability Insurance. Borrower shall have furnished to Bank, in form, content and amounts and with companies satisfactory to Bank, casualty insurance policies with lender loss payable clauses in favor of Bank, relating to the assets and properties (including, but not limited to, the Collateral) of Borrower and evidence of general liability insurance as required by this Agreement or any Related Document (or evidence of insurance on an XXXXX 28 (2003 version) (in the case of property insurance) or XXXXX 25 (in the case of liability insurance) form of certificate) each policy to be in effect for a period of not less than one year following the Effective Date.
Casualty and Liability Insurance. The Mortgagor shall at -------------------------------- all times keep the Property insured for the benefit of the Mortgagor and the Mortgagee against loss or damage by fire by fire insurance and extended coverage insurance and against such other hazards, casualties, and contingencies, all as Mortgagee may require from time to time. Such insurance shall be written in amounts equal to one hundred percent (100%) of the replacement value of the Property or such other amount as may be approved by Mortgagee. Such insurance shall be written in forms and by companies satisfactory to the Mort- gagee, and the losses thereunder shall be payable to the Mortgagee alone and not to the Mortgagor and the Mortgagee, jointly. The policy or policies of such casualty insurance shall, if requested by Mortgagee, be delivered to and retained by the Mortgagee, and the Mortgagor shall provide the Mortgagee with receipt evidencing the payment of all premiums due on such policies. The Mortgagor shall give the Mortgagee prompt notice of any loss covered by such casualty insurance, and the Mortgagee shall have the right (subject to the approval of Mortgagor, so long as no Event of Default has occurred) to adjust any loss covered by an insurance policy. All monies received as payment for a loss covered by an insurance policy ("Insurance Proceeds") shall be paid over to the Mortgagee to be applied, at the option of the Mortgagee, either to the prepayment of the indebtedness secured by the Mortgage or to the payment of other charges or expenses actually incurred by the Mortgagor in the res- toration, reconstruction, repair, renovation' or replacement of the Property; provided, however, that the application of Insurance Proceeds shall be made at the option of the Mortgagor so long as no default or Event of Default has occurred and so long as the Insurance Proceeds are sufficient, together with other funds deposited for this purpose with the Mortgagee by Mortgagor, to restore the Property to a condition and value satisfactory to the Mortgagee. The Mortgagor may not take out separate insurance concurrent in form or contributing in the event of loss with that required to be maintained under the above paragraph unless the mortgagee is included thereon as a named insured with losses payable to the Mortgagee as above provided. The Mortgagor shall immediately notify the Mortgagee whenever any such separate insurance is taken out and shall promptly deliver to the Mortgagee the policy or policies...
Casualty and Liability Insurance. The Borrower shall:
Casualty and Liability Insurance. The Agent shall have received certificates of insurance, evidence of payment of all insurance premiums for the current policy year of each, and, if requested by the Agent, copies of insurance policies, evidencing customary levels of insurance (and deductibles) covering the Collateral and the Pledged Assets, with carriers reasonably acceptable to the Agent, and otherwise in form and substance customary in Borrowers’ industry.
Casualty and Liability Insurance. The Company shall have as of the date hereof obtained from financially sound and reputable insurers casualty and general liability insurance in amounts customary for companies similarly situated, except as otherwise determined by a majority of the Company’s Board of Directors, with such majority including at least two of the Preferred Directors. The Company will cause to be maintained the general liability insurance required by this subsection 2.4(f), except as otherwise determined by a majority of the Company’s Board of Directors, with such majority including at least two of the Preferred Directors. Such policy shall name the Company, Alloy Ventures 2005, L.P. (“Alloy Ventures”), Austin Ventures VIII, L.P. (“Austin Ventures”), North Bridge Venture Partners VI, L.P. (“North Bridge”) and August Capital V Special Opportunities, L.P. (“August Capital”) as loss payees and shall not be cancelable by the Company without prior approval of a majority of the Board of Directors, with such approval including at least two of the Preferred Directors.
Casualty and Liability Insurance. You shall have received a Compliance Certificate from the Company, and an Officers' Certificate from Mercury, each dated the date of the Closing and reasonably satisfactory in substance and form to you, certifying to the existence of the insurance, with insurance companies satisfactory to you, required by Section 1.12 of the Mortgage and Section 3.2.4.1 through and including 3.2.4.6 of the Lease and the payment of all premiums due thereon. The originals of the policies evidencing such insurance (or certificates therefor issued by the insurers) shall have been delivered to you.
Casualty and Liability Insurance. On the date of the Closing, you shall have received from the Company a certificate dated the date of the Closing in form and substance reasonably satisfactory to you and your special counsel certifying to the maintenance of casualty and liability insurance on the Company's properties and operations and the payment of all premiums due thereon.
Casualty and Liability Insurance. Subtenant shall provide all insurance required of the Sublandlord as Tenant under the Primary Lease and shall provide Sublandlord with written evidence of such coverage. Landlord and Sublandlord shall be shown as an additional insured under Subtenant's policies.
Casualty and Liability Insurance. Landlord shall, at all times during the term of this Lease, maintain a policy or policies of insurance with the premiums thereon fully paid in advance, issued by and binding upon some solvent insurance company insuring Landlord against general public liability for death or injury to person or property in an amount not less than ONE MILLION AND NO/100 DOLLARS ($ 1,000,000.00) single limit coverage, and insuring the Landlord against loss or damage by fire, explosion, or other hazards and contingencies for the full insurable value of the building in which the Leased Premises are located; provided the Landlord shall not be obligated to insure any furniture, equipment, machinery, goods or supplies which Tenant may bring or obtain or obtain upon the Leased Premises, or any additional improvements which Tenant may construct thereon. All insurance proceeds are to be paid to Landlord. Xxxxxx agrees to maintain a comprehensive General Policy insuring Tenant and Landlord's liability with respect to the Leased Premises in such an amount as may be reasonably required by Landlord, and to deliver Landlord a Certificate of Insurance from the insurance company acceptable to Landlord issuing such policy acknowledging the existence and amounts of such policy. The limit of said insurance shall not, however, limit the liability of Tenant hereunder. No policy shall be cancelable or subject to reduction of coverage except after thirty (30) days written notice to Landlord.
