Document ID: 12123

Text:
Section 3.16 Insurance. Section 3.16 of the Disclosure Schedules sets forth a true and complete list of all current policies or binders of fire, liability, product liability, umbrella liability, real and personal property, workers compensation, vehicular, directors and officers liability, fiduciary liability and other casualty and property insurance maintained by Seller or its Affiliates (including the Company) and relating to the assets, business, operations, employees, officers and directors of the Company (collectively, the Insurance Policies) and true and complete copies of such Insurance Policies have been made available to Buyer. Such Insurance Policies are in full force and effect and shall remain in full force and effect following the consummation of the transactions contemplated by this Agreement. Neither the Seller nor any of its Affiliates (including the Company) has received any written notice of cancellation of, premium increase with respect to, or alteration of coverage under, any of such Insurance Policies. All premiums due on such Insurance Policies have either been paid or, if due and payable prior to Closing, will be paid prior to Closing in accordance with the payment terms of each Insurance Policy. The Insurance Policies do not provide for any retrospective premium adjustment or other experience-based liability on the part of the Company. All such Insurance Policies (a) are valid and binding in accordance with their terms; (b) are provided by carriers who are financially solvent; and (c) have not been subject to any lapse in coverage. There are no claims related to the business of the Company pending under any such Insurance Policies as to which coverage has been questioned, denied or disputed or in respect of which there is an outstanding reservation of rights. None of Seller or any of its Affiliates (including the Company) is in default under, or has otherwise failed to comply with, in any material respect, any provision contained in any such Insurance Policy. The Insurance Policies are of the type and in the amounts customarily carried by Persons conducting a business similar to the Company and are sufficient for compliance with all applicable Laws and Contracts to which the Company is a party or by which it is bound.

Named Entities:
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95
Title
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Title

Tokenized Text:
Section
3
.
16
Insurance
.
Section
3
.
16
of
the
Disclosure
Schedules
sets
forth
a
true
and
complete
list
of
all
current
policies
or
binders
of
fire
,
liability
,
product
liability
,
umbrella
liability
,
real
and
personal
property
,
workers
compensation
,
vehicular
,
directors
and
officers
liability
,
fiduciary
liability
and
other
casualty
and
property
insurance
maintained
by
Seller
or
its
Affiliates
(
including
the
Company
)
and
relating
to
the
assets
,
business
,
operations
,
employees
,
officers
and
directors
of
the
Company
(
collectively
,
the
Insurance
Policies
)
and
true
and
complete
copies
of
such
Insurance
Policies
have
been
made
available
to
Buyer
.
Such
Insurance
Policies
are
in
full
force
and
effect
and
shall
remain
in
full
force
and
effect
following
the
consummation
of
the
transactions
contemplated
by
this
Agreement
.
Neither
the
Seller
nor
any
of
its
Affiliates
(
including
the
Company
)
has
received
any
written
notice
of
cancellation
of
,
premium
increase
with
respect
to
,
or
alteration
of
coverage
under
,
any
of
such
Insurance
Policies
.
All
premiums
due
on
such
Insurance
Policies
have
either
been
paid
or
,
if
due
and
payable
prior
to
Closing
,
will
be
paid
prior
to
Closing
in
accordance
with
the
payment
terms
of
each
Insurance
Policy
.
The
Insurance
Policies
do
not
provide
for
any
retrospective
premium
adjustment
or
other
experience-based
liability
on
the
part
of
the
Company
.
All
such
Insurance
Policies
(
a
)
are
valid
and
binding
in
accordance
with
their
terms
;
(
b
)
are
provided
by
carriers
who
are
financially
solvent
;
and
(
c
)
have
not
been
subject
to
any
lapse
in
coverage
.
There
are
no
claims
related
to
the
business
of
the
Company
pending
under
any
such
Insurance
Policies
as
to
which
coverage
has
been
questioned
,
denied
or
disputed
or
in
respect
of
which
there
is
an
outstanding
reservation
of
rights
.
None
of
Seller
or
any
of
its
Affiliates
(
including
the
Company
)
is
in
default
under
,
or
has
otherwise
failed
to
comply
with
,
in
any
material
respect
,
any
provision
contained
in
any
such
Insurance
Policy
.
The
Insurance
Policies
are
of
the
type
and
in
the
amounts
customarily
carried
by
Persons
conducting
a
business
similar
to
the
Company
and
are
sufficient
for
compliance
with
all
applicable
Laws
and
Contracts
to
which
the
Company
is
a
party
or
by
which
it
is
bound
.