Example ContractsClausesflood insuranceVariants
Flood Insurance
Flood Insurance contract clause examples

Flood Insurance Compliance. Notwithstanding anything to the contrary contained herein or any of the other Financing Agreements, any increase in the Maximum Credit, extension of the maturity date hereof or renewal of this Agreement that the Administrative Agent and Lenders may agree to, in their sole discretion, after the date hereof shall be subject to such flood insurance due diligence and compliance with flood insurance requirements reasonably satisfactory to Administrative Agent and Lenders. After the date hereof, either Administrative Agent or Borrowers shall provide Lenders with not less than forty-five (45) days written notice prior to any Real Property acquired by Borrowers after the date hereof becoming subject to a Mortgage in favor of Administrative Agent and such Real Property shall be subject to such Mortgage only after the Lenders have confirmed to Administrative Agent that flood insurance due diligence and compliance with flood insurance requirements has been completed in a manner reasonably satisfactory to Lenders.

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