Example ContractsClausesfailure to maintain insuranceVariants
Failure to Maintain Insurance
Failure to Maintain Insurance contract clause examples

Insurance. The properties of the Loan Parties and the Restricted Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of any Loan Party, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable Loan Party or Restricted Subsidiary operates, provided that no coverage in respect of terrorism shall be required. As of the Closing Date, such insurance is in full force and effect and all premiums have been duly paid.

Insurance. The properties of the Loan Parties and the Restricted Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of any Loan Party, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable Loan Party or Restricted Subsidiary operates, provided that no coverage in respect of terrorism shall be required. As of the Closing Date, such insurance is in full force and effect and all premiums have been duly paid.

Insurance. The properties of each Borrower and its respective Restricted Subsidiaries are insured with insurance companies not Affiliates of either Borrower (other than a Captive Insurance Company), in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable Borrower or Restricted Subsidiary operates.

Insurance. Each of the Borrower and its Restricted Subsidiaries maintains, with financially sound and reputable insurance companies not Affiliates of the Borrower or any of its Restricted Subsidiaries, insurance (including liability insurance and casualty insurance), with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar businesses and owning similar properties in localities where the Borrower or any of its Restricted Subsidiaries operates, of such types and in such amounts, with such deductibles and covering such risks, as are customarily carried under similar circumstances by such other Persons (or otherwise required in the Collateral Documents) or with self-insurance programs in the ordinary course of business that are customary for companies in similar businesses and of similar size and in localities where the Borrower or the applicable Restricted Subsidiary operates.

The properties of the and its Restricted Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the , in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable [[Loan Parties:Organization]] or the applicable Restricted Subsidiary operates. The general liability, casualty, property, and business interruption insurance coverage of the Loan Parties as in effect on the Closing Date, and as of the last date such Schedule was required to be updated in accordance with [Sections 6.02, 6.12 and 6.13]3]3], is outlined as to carrier, policy number, expiration date, type, amount and deductibles on [Schedule 5.10] and such insurance coverage complies with the requirements set forth in this Agreement and the other Loan Documents.

Insurance. The properties of the Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Borrower or the applicable Subsidiary operates.

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