Common use of Proof of Loss Clause in Contracts

Proof of Loss. The Debtor will forthwith, on the happening of loss or damage to the Collateral, notify the Secured Party thereof and furnish to the Secured Party at the Debtor’s expense any necessary proof and do any necessary act to enable the Secured Party to obtain payment of the insurance proceeds, but nothing herein contained shall limit the Secured Party’s right to submit to the insurer a proof of loss on its own behalf.