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Flood Insurance
Flood Insurance contract clause examples

MIRE Events. Notwithstanding anything to the contrary set forth herein, no MIRE Event may be closed until the Administrative Agent shall have received the following documents in respect of Mortgaged Property: # a completed flood hazard determination from a third party vendor; and # if required by applicable Flood Laws, # evidence of required flood insurance with respect to which flood insurance has been made available under applicable Flood Laws and # other flood documentation or information reasonably requested by any Lender to enable such Lender to comply with such Flood Laws.

MIRE Events. Notwithstanding anything to the contrary set forth herein, no MIRE Event may be closed until the Administrative Agent shall have received the following documents in respect of Mortgaged Property: # a completed flood hazard determination from a third party vendor; and # if required by applicable Flood Laws, # evidence of required flood insurance with respect to which flood insurance has been made available under applicable Flood Laws and # other flood documentation or information reasonably requested by any Lender to enable such Lender to comply with such Flood Laws.

. Notwithstanding the foregoing, no MIRE Event may be closed until the date that is # if there are no Mortgaged Properties in a flood zone, five (5) Business Days or # if there are any Mortgaged Properties in a flood zone, thirty (30) days (in each case, the “Notice Period”), after Administrative Agent has delivered to Lenders the following documents in respect of such Mortgaged Property: # a completed flood hazard determination from a third party vendor; # if such Mortgaged Property is located in a “special flood hazard area”, # a notification to the applicable Obligated Party of that fact and (if applicable) notification to the applicable Obligated Party that flood insurance coverage is not available and # evidence of the receipt by the applicable Obligated Party of such notice; and # evidence of required flood insurance in compliance with the applicable regulations of the Board of Governors of the Federal Reserve System; provided that any such MIRE Event may be closed prior to the Notice Period if the Administrative Agent shall have received confirmation from each applicable Lender that such Lender has completed any necessary flood insurance due diligence to its reasonable satisfaction.

Section #3Credit Extensions in Respect of MIRE Event. Notwithstanding the foregoing, no MIRE Event may be closed until the date that is # if there are no Mortgaged Properties in a flood zone, five (5) Business Days or # if there are any Mortgaged Properties in a flood zone, thirty (30) days (in each case, the “Notice Period”), after Administrative Agent has delivered to Lenders the following documents in respect of such Mortgaged Property: # a completed flood hazard determination from a third party vendor; # if such Mortgaged Property is located in a “special flood hazard area”, # a notification to the applicable Obligated Party of that fact and (if applicable) notification to the applicable Obligated Party that flood insurance coverage is not available and # evidence of the receipt by the applicable Obligated Party of such notice; and # evidence of required flood insurance in compliance with the applicable regulations of the Board of Governors of the Federal Reserve System; provided that any such MIRE Event may be closed prior to the Notice Period if the Administrative Agent shall have received confirmation from each applicable Lender that such Lender has completed any necessary flood insurance due diligence to its reasonable satisfaction.

Notwithstanding the foregoing, no MIRE Event may be closed until the date that is # if there are no Mortgaged Properties in a flood zone, five (5) Business Days or # if there are any Mortgaged Properties in a flood zone, thirty (30) days (in each case, the “Notice Period”), after Administrative Agent has delivered to Lenders the following documents in respect of such Mortgaged Property: # a completed flood hazard determination from a third party vendor; # if such Mortgaged Property is located in a “special flood hazard area”, # a notification to the applicable Obligated Party of that fact and (if applicable) notification to the applicable Obligated Party that flood insurance coverage is not available and # evidence of the receipt by the applicable Obligated Party of such notice; and # evidence of required flood insurance in compliance with the applicable regulations of the Board of Governors of the Federal Reserve System; provided that any such MIRE Event may be closed prior to the Notice Period if the Administrative Agent shall have received confirmation from each applicable Lender that such Lender has completed any necessary flood insurance due diligence to its reasonable satisfaction.

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