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Insurance Policies
Insurance Policies contract clause examples
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Insurance Policies. Seller has not received written notice from any insurance carrier of defects or inadequacies in the Assets which, if uncorrected, would result in a termination of insurance coverage or a material increase in the premiums charged therefor. Seller shall maintain uninterrupted insurance coverage through the Closing Date.

Borrower, at its sole cost and expense, shall obtain and maintain during the entire Term, or cause to be maintained, insurance policies for Borrower and the Property providing at least the following coverages:

Insurance Policies. See Addendum Insurance required herein shall be by companies maintaining during the policy term a “ General Policyholders Rating” of at least A-, VII, as set forth in the most current issue of “ Best’s Insurance Guide”, or such other rating as may be required by a Lender, Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of policies of such insurance or certificates with copies of the required endorsements evidencing the existence and amounts of the required insurance. No such policy shall be canceable or subject to modification except after 30 days prior written notice to Lessor. Lessee shall, at least 10 days prior to the expiration of such policies, furnis Lessor with evidence of renewals or “insurance binders” evidencing renewal thereof, or Lessor may increase his liabillty insurance coverage and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Such policies shall be for a term of at least one year, or the length of the remaining term of this Lease, whichever is less If either Party shall fall to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to, procure and maintain the same.

Insurance Policies. Insurance required herein shall be by companies maintaining during the policy term a “General Policyholders Rating” of at least A☐,VII, as set forth in the most current issue of “Best’s Insurance Guide”, or such other rating as may be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of certificates with copies of the required endorsements evidencing the existence and amounts of the required insurance. Lessee shall furnish Lessor with evidence of renewals or “insurance binders” evidencing renewal thereof in a reasonable amount of time after the renewal. Such policies shall be for a term of at least one year, or the length of the remaining term of this Lease, whichever is less. If either Party shall fail to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to, procure and maintain the same.”

Title Insurance Policies. The Borrower will deliver to the Administrative Agent a policy of title insurance (or marked-up title insurance commitment or title proforma having the effect of a policy of title insurance) (a “Title Policy”) insuring the Lien of such Mortgage as a valid first mortgage or deed of trust Lien on the Mortgaged Property described therein in an amount not less than the estimated fair market value of such Mortgaged Property as reasonably determined by the Borrower, which Title Policy shall # be issued by a nationally-recognized title insurance company reasonably acceptable to the Administrative Agent (the “Title Company”), # include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Administrative Agent, # be supplemented by a “tie-in” or “aggregation” endorsement, if available under applicable law, and such other endorsements as may reasonably be requested by the Administrative Agent (including (to the extent available in the applicable jurisdiction and/or with respect to the Mortgaged Property, in each case, on commercially reasonable terms) endorsements on matters relating to usury, first loss, zoning, contiguity, revolving credit, doing business, public road access, survey, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, and so-called comprehensive coverage over covenants and restrictions) if available under applicable law at commercially reasonable rates and # contain no other exceptions to title other than Permitted Liens and other exceptions acceptable to the Administrative Agent in its reasonable discretion;

With respect to the Eligible Life Insurance Policies: # Borrowers shall at all times maintain and preserve each Eligible Life Insurance Policy in accordance with the terms and conditions of the Collateral Assignment of Life Insurance for such Eligible Life Insurance Policy ; and # upon Administration Agent’s request, Borrowers shall use commercially reasonable efforts to cause the Life Insurance Company to furnish to Administrative Agent, at Borrowers’ expense, a certification as to any Eligible Life Insurance Policy regarding, among other things, # the amount of the Cash Surrender Value, # the status of the payment of the Life Insurance Policy premiums, and # the validity and effectiveness of such Life Insurance Policy.

Conversion of Insurance Policies. In addition, the Company shall also use its best efforts to convert any then-existing life insurance and accidental death and disability insurance policies to individual policies in the name of the Executive.

Conversion of Insurance Policies. In addition, the Company shall also use its best efforts to convert any then-existing life insurance and accidental death and disability insurance policies to individual policies in the name of the Executive.

The Loan Parties shall have delivered evidence acceptable to the Administrative Agent that adequate insurance in compliance with [Section 8.1.3] [Maintenance of Insurance] is in full force and effect and that all premiums then due thereon have been paid.

Policies. Executive agrees to follow the policies and procedures established by Ceridian from time to time.

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