Insurance. Maintain insurance with financially sound and reputable insurance companies in such amounts and covering such risks as are usually carried by entities engaged in similar businesses and owning similar properties in the same general areas in which Borrower operate, provided that in any event Borrower will maintain and cause each of its Subsidiaries to maintain workers' compensation insurance, business interruption insurance, property insurance and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall be in compliance with the requirements of the Security Agreement.
Insurance. Maintain insuranceThe Borrower will, and will cause each Principal Subsidiary to, maintain with financially sound and reputable insurance companies insurance on all their Property in such amounts and covering such risks as are usually carried by entities engaged in similar businessesis consistent with sound business practice, and owning similar properties in the same general areas in which Borrower operate, provided that in any event Borrower will maintain and cause each of its Subsidiariesfurnish to maintain workers' compensation insurance, business interruption insurance, propertyany Lender upon request full information as to the insurance and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall be in compliance with the requirements of the Security Agreement.carried.
Insurance. Maintain insuranceEach Borrower will, and will cause each of its Subsidiaries to, maintain, with financially sound and reputable insurance companies incompanies, adequate insurance for its insurable properties, all to such amountsextent and coveringagainst such risks, including fire, casualty, business interruption and other risks insured against by extended coverage, as are usually carried by entities engaged in similar businesses and owning similar propertiesis customary with companies in the same general areasor similar businesses operating in which Borrower operate, provided that in any event Borrower will maintainthe same or similar locations and cause each of its Subsidiaries to maintain workers' compensation insurance, business interruption insurance, property insurance and commercial generalsame or similar size, including public liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall beagainst claims for personal injury or death or property damage occurring upon, in, about or in complianceconnection with the requirementsuse of any properties owned, occupied or controlled by it (including the Security Agreement.insurance required pursuant to the Collateral Documents); and maintain such other insurance as may be required by law.
Insurance. Maintain insuranceThe Borrower and its Principal Subsidiaries maintain with financially sound and reputable insurance companies insurance on all their Property in such amounts and covering such risks as are usually carried by entities engaged in similar businesses and owning similar properties in the same general areas in which Borrower operate, provided that in any event Borrower will maintain and cause each of its Subsidiaries to maintain workers' compensation insurance,is consistent with sound business interruption insurance, property insurance and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall be in compliance with the requirements of the Security Agreement.practice.
Maintenance of Insurance. MaintainMaintain, and cause each of its Subsidiaries to maintain, insurance with financially soundresponsible and reputable insurance companies or associations in such amounts and covering such risks as areis usually carried by entitiescompanies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower operate, providedor such Subsidiary operates; provided, however, that in any eventthe Borrower will maintain and cause each of its Subsidiaries may self-insure to maintain workers' compensation insurance,the extent it determines in its good faith reasonable business interruption insurance, propertyjudgment that such insurance and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall be in complianceis consistent with the requirements of the Security Agreement.prudent business practice.
Insurance. Maintain insuranceEach of the Borrower and its Restricted Subsidiaries maintains, with financially sound and reputable insurance companies in such amountsnot Affiliates of the Borrower or any of its Restricted Subsidiaries, insurance (including liability insurance and covering such risks as are usually carriedcasualty insurance), with respect to its properties and business against loss or damage of the kinds customarily insured against by entitiesPersons engaged in the same or similar businesses and owning similar properties in localities where the same general areas in which Borrower operate, provided that inor any event Borrower will maintain and cause each of its Restricted Subsidiaries to maintain workers' compensation insurance,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 interruption insurance, property insurancethat are customary for companies in similar businesses and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall beof similar size and in compliance withlocalities where the requirements ofBorrower or the Security Agreement.applicable Restricted Subsidiary operates.
SECTION # Insurance. MaintainIn addition to and cumulative with any other requirements herein or in the Security Agreement imposed on the Borrower and the Guarantors with respect to insurance, the Borrower, Guarantors and the Subsidiaries of the Borrower and Guarantors shall maintain insurance with financially soundinsurance companies satisfactory to the Bank on such of their respective properties and reputable insurance companiesassets, in such amounts and coveringagainst such risks as are usually carriedis customarily maintained by entities engaged in similar businesses and owning similar propertiesoperating in the same general areas in which Borrower operate, provided thatvicinity, but in any event to include public liability, worker’s compensation, business interruption, malicious mischief, errors and omissions, loss, damage, flood, windstorm, fire, theft, extended coverage and product liability insurance in amounts satisfactory to the Bank, which insurance shall not be cancelled or altered (or the coverage thereunder reduced or restricted) by the Borrower, Guarantor or any Subsidiary of the Borrower and Guarantors, unless with the prior written consent of the Bank, or by the insurer of the Borrower and Guarantors, unless the Borrower gives at least 30 days advance written notice to the Bank thereof. The Borrower and Guarantors shall deliver to the Bank on the Restatement Effective Date and at such other times as the Bank may request, a detailed list of such insurance then in effect stating the names of the insurance companies, the amounts and rates of insurance, the date of expiration thereof, the properties and risks covered thereby and the insured with respect thereto, and, within 30 days after notice in writing from the Bank, obtain such additional insurance as the Bank may reasonably request. The Borrower and Guarantors will maintainpay all premiums on the insurance referred to herein as and cause each of its Subsidiarieswhen they become due and shall do all things necessary to maintain workers' compensation insurance, business interruption insurance, propertythe insurance in effect. If the Borrower or any Guarantor shall default in its obligation hereunder to insure the Collateral or any of their other respective properties or assets in a manner satisfactory to the Bank, then the Bank shall have the right (but not the obligation) to procure such insurance and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateralcharge the costs of same to the Borrower and Guarantors, which costs shall be in compliance with the requirementsadded to and become a part of the Security Agreement.unpaid principal amount of the Obligations, shall bear interest at the Default Rate, shall be payable on demand by the Bank and shall be secured by the Collateral.
Section # Insurance. Maintain insuranceThe Borrower will, and will cause each Material Subsidiary to, maintain, with financially sound and reputable insurance companiescompanies, insurance on all their Property in such amounts and covering such risks as are usually carried by entities engaged in similar businesses and owning similar properties in the same general areas in which Borrower operate, provided that in any event Borrower will maintain and cause each of its Subsidiaries to maintain workers' compensation insurance,is consistent with sound business interruption insurance, property insurance and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall be in compliance with the requirements of the Security Agreement.practice.
Insurance. MaintainAt Borrowers’ expense, maintain insurance respecting each of the Loan Parties’ and their Subsidiaries’ assets wherever located, covering loss or damage by fire, theft, explosion, and all other hazards and risks as ordinarily are insured against by other Persons engaged in the same or similar businesses. Borrowers also shall maintain (with respect to each of the Loan Parties and their Subsidiaries) workers’ compensation, business interruption (only to the extent the Loan Parties begin maintaining business interruption insurance after the Closing Date), general liability, product liability insurance, director’s and officer’s liability insurance, fiduciary liability insurance, and employment practices liability insurance, as well as insurance against larceny, embezzlement, and criminal misappropriation. All such policies of insurance shall be with financially soundresponsible and reputable insurance companies reasonably acceptable to Agent and in such amounts and covering such risks as are usuallyis carried generally in accordance with sound business practice by entities engagedcompanies in similar businesses similarly situated and owning similar properties in the same general areas in which Borrower operate, provided thatlocated and in any event Borrower will maintainin amount, adequacy and cause each of its Subsidiariesscope reasonably satisfactory to maintain workers' compensation insurance, business interruption insurance,Agent. All property insurance policies covering the Collateral are to be made payable to Agent for the benefit of Agent and commercialthe Lenders, as their interests may appear, in case of loss, pursuant to a standard loss payable endorsement with a standard non contributory “lender” or “secured party” clause and are to contain such other provisions as Agent may reasonably require to fully protect the Lenders’ interest in the Collateral and to any payments to be made under such policies. All certificates of property and general liability insurance reasonably satisfactoryare to Bank. Each insurance policy covering Collateral shall be in compliancedelivered to Agent, with the requirementsloss payable (but only in respect of Collateral) and additional insured endorsements in favor of Agent, which endorsements shall provide for not less than thirty (30) days (ten (10) days in the case of non-payment) prior written notice to Agent of the Security Agreement.exercise of any right of cancellation. If any Borrower fails to maintain such insurance, Agent may arrange for such insurance, but at such Borrower’s expense and without any responsibility on Agent’s part for obtaining the insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection of claims. Borrowers shall give Agent prompt notice of any loss exceeding $1,000,000 covered by its casualty or business interruption insurance (only to the extent the Loan Parties begin maintaining business interruption insurance after the Closing Date). Upon the occurrence and during the continuance of an Event of Default, Agent shall have the sole right to file claims under any property and general liability insurance policies in respect of the Collateral, to receive, receipt and give acquittance for any payments that may be payable thereunder, and to execute any and all endorsements, receipts, releases, assignments, reassignments or other documents that may be necessary to effect the collection, compromise or settlement of any claims under any such insurance policies. Unless and until the occurrence and continuance of an Event of Default, Borrowers shall solely have such rights (including to receive payments) set forth in the immediately preceding sentence. Notwithstanding anything to the contrary herein or in any other Loan Document, the Loan Parties may self-insure with respect to medical insurance, in which case, no insurance certificates and endorsements will be required for such type of insurance.
Insurance. Maintain insurance6.6Insurance. The Borrower will, and will cause each Subsidiary to, maintain with financially sound and reputable insurance companies insurance on all their Property in such amounts and covering such risks as are usually carried by entities engaged in similar businessesis consistent with sound business practice, and owning similar properties in the same general areas in which Borrower operate, provided that in any event Borrower will maintain and cause each of its Subsidiariesfurnish to maintain workers' compensation insurance, business interruption insurance, propertyany Lender upon request full information as to the insurance and commercial general liability insurance reasonably satisfactory to Bank. Each insurance policy covering Collateral shall be in compliance with the requirements of the Security Agreement.carried.
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