SIMILAR BUSINESSES AND IN AMOUNTS ACCEPTABLE
TO AGENT AND WILL DELIVER EVIDENCE THEREOF TO AGENT.
EACH CREDIT PARTY WILL
MAINTAIN BUSINESS INTERRUPTION INSURANCE PROVIDING COVERAGE CONSISTENT WITH THAT
IN PLACE ON THE CLOSING DATE.
EACH CREDIT PARTY SHALL, PURSUANT TO ENDORSEMENTS
AND/OR ASSIGNMENTS IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO AGENT, (I)
CAUSE AGENT TO BE NAMED AS LENDER'S LOSS PAYEE IN THE CASE OF CASUALTY
INSURANCE, AND ASSIGNEE IN THE CASE OF ALL BUSINESS INTERRUPTION INSURANCE, IN
EACH CASE FOR THE BENEFIT OF AGENT AND LENDERS PROVIDED, THAT, IN THE EVENT THAT
NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING AND THAT NO
MANDATORY PREPAYMENT IS REQUIRED UNDER THE TERMS OF THIS AGREEMENT, AGENT SHALL
WITH REASONABLE PROMPTNESS RETURN ANY PROCEEDS SO RECEIVED BY AGENT TO THE
BORROWERS, AND (II) CAUSE AGENT AND EACH LENDER TO BE NAMED AS ADDITIONAL
INSUREDS IN THE CASE OF ALL LIABILITY INSURANCE.
IN THE EVENT ANY CREDIT PARTY
FAILS TO PROVIDE AGENT WITH EVIDENCE OF THE INSURANCE COVERAGE REQUIRED BY THIS
AGREEMENT, AGENT MAY PURCHASE INSURANCE AT SUCH CREDIT PARTY'S EXPENSE TO
PROTECT AGENT'S INTERESTS IN THE COLLATERAL.
THIS INSURANCE MAY, BUT NEED NOT,
PROTECT SUCH CREDIT PARTY'S INTERESTS.
THE COVERAGE PURCHASED BY AGENT MAY NOT
PAY ANY CLAIM MADE BY SUCH CREDIT PARTY OR ANY CLAIM THAT IS MADE AGAINST SUCH
CREDIT PARTY IN CONNECTION WITH THE COLLATERAL.
SUCH CREDIT PARTY MAY LATER
CANCEL ANY INSURANCE PURCHASED BY AGENT, BUT ONLY AFTER PROVIDING AGENT WITH
EVIDENCE THAT SUCH CREDIT PARTY HAS OBTAINED INSURANCE AS REQUIRED BY THIS
AGREEMENT.
IF AGENT PURCHASES INSURANCE FOR THE COLLATERAL, SUCH CREDIT PARTY
WILL BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE, INCLUDING INTEREST AND
OTHER CHARGES IMPOSED BY AGENT IN CONNECTION WITH THE PLACEMENT OF THE
INSURANCE, UNTIL THE EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE
INSURANCE.
THE COSTS OF THE INSURANCE MAY BE ADDED TO THE OBLIGATIONS.
THE
COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF INSURANCE SUCH CREDIT PARTY
IS ABLE TO OBTAIN ON ITS OWN.
4.3.
FIELD EXAMINATION; FIXED ASSET APPRAISAL; LENDER MEETING.
UPON
TEN (10) BUSINESS DAYS' PRIOR WRITTEN NOTICE TO THE CREDIT PARTIES, EACH CREDIT
PARTY SHALL PERMIT ANY AUTHORIZED REPRESENTATIVES OF AGENT TO CONDUCT A FIELD
EXAMINATION OF ANY OF THE PROPERTIES OF SUCH CREDIT PARTY AND ITS SUBSIDIARIES,
INCLUDING ITS AND THEIR FINANCIAL AND ACCOUNTING RECORDS, AND TO MAKE COPIES AND
TAKE EXTRACTS THEREFROM, AND TO DISCUSS ITS AND THEIR AFFAIRS, FINANCES AND
BUSINESS WITH ITS AND THEIR OFFICERS AND CERTIFIED PUBLIC ACCOUNTANTS, AT SUCH
REASONABLE TIMES DURING NORMAL BUSINESS HOURS AND, SUBJECT TO THE PROVISO SET
FORTH BELOW, AS OFTEN AS MAY BE REASONABLY REQUESTED (A "FIELD EXAMINATION");
PROVIDED, HOWEVER, SO LONG AS NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND IS
CONTINUING, (I) AGENT SHALL BE LIMITED TO ONE (1) FIELD EXAMINATION DURING EACH
CALENDAR YEAR AND (II) BORROWERS' OBLIGATION TO REIMBURSE OUT-OF-POCKET EXPENSES
IN RESPECT OF SUCH FIELD EXAMINATION SHALL NOT EXCEED $40,000.
REPRESENTATIVES
OF EACH LENDER