FAIL TO TAKE ACTION THE RESULT OF WHICH
COULD BE A LIABILITY TO THE PBGC OR TO A MULTIEMPLOYER PLAN;
(C)
NOT PARTICIPATE IN ANY PROHIBITED TRANSACTION THAT COULD RESULT IN
ANY CIVIL PENALTY UNDER ERISA OR TAX UNDER THE CODE;
(D)
OPERATE EACH EMPLOYEE BENEFIT PLAN IN SUCH A MANNER THAT WILL NOT
INCUR ANY TAX LIABILITY UNDER SECTION 4980B OF THE CODE OR ANY LIABILITY TO ANY
QUALIFIED BENEFICIARY AS DEFINED IN SECTION 4980B OF THE CODE; AND
(E)
FURNISH TO THE COFACE AGENT UPON THE COFACE AGENT'S REQUEST SUCH
ADDITIONAL INFORMATION ABOUT ANY EMPLOYEE BENEFIT PLAN AS MAY BE REASONABLY
REQUESTED BY THE COFACE AGENT.
21.4
INSURANCE
(A)
MAINTAIN INSURANCE WITH INSURANCE COMPANIES AND/OR UNDERWRITERS
RATED BY S&P OR AM BEST'S RATING AGENCY AT NO LOWER THAN A- AGAINST SUCH RISKS
AND IN SUCH AMOUNTS AS ARE:
(I)
MAINTAINED IN ACCORDANCE WITH PRUDENT BUSINESS PRACTICE AND
CORPORATE GOVERNANCE; AND
(II)
AS MAY BE REQUIRED BY APPLICABLE LAW WITH AMOUNTS AND SCOPE OF
COVERAGE NOT LESS THAN THOSE MAINTAINED BY THE BORROWER AND ITS SUBSIDIARIES AS
OF THE DATE OF THIS AGREEMENT.
(B)
ON THE DATE OF THIS AGREEMENT AND FROM TIME TO TIME THEREAFTER THE
BORROWER SHALL DELIVER TO THE COFACE AGENT UPON ITS REQUEST INFORMATION IN
REASONABLE
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DETAIL AS TO THE INSURANCE THEN IN EFFECT, STATING THE NAMES OF THE INSURANCE
COMPANIES, THE AMOUNTS AND RATES OF THE INSURANCE, THE DATES OF THE EXPIRATION
THEREOF AND THE PROPERTIES AND RISKS COVERED THEREBY, PROVIDED THAT, WITH
RESPECT TO PARAGRAPH (A)(I) ONLY, NEITHER THE BORROWER NOR ANY OF ITS
SUBSIDIARIES SHALL BE REQUIRED TO OBTAIN ANY INSURANCE AGAINST THE RISK OF LOSS
OF ANY IN-ORBIT SATELLITES OR AGAINST BUSINESS INTERRUPTION RISKS IN ADDITION TO
OR WITH A BROADER SCOPE OF COVERAGE THAN IS CURRENTLY MAINTAINED BY THE BORROWER
AND ITS SUBSIDIARIES AS AT THE DATE OF THIS AGREEMENT.
(C)
IN ADDITION TO, AND WITHOUT LIMITING THE FOREGOING, THE BORROWER
WILL, AND WILL CAUSE EACH OF ITS SUBSIDIARIES TO, MAINTAIN INSURANCE WITH
RESPECT TO THE SATELLITES AS FOLLOWS:
(I)
PROPERTY ALL RISKS INSURANCE
The Borrower will procure or will cause the Supplier to procure at its own
expense and maintain in full force and effect, at all times prior to the Launch
of any Satellite purchased by the Borrower or any of its Subsidiaries pursuant
to the terms of the Satellite Construction Contract, Property All Risks
Insurance upon such terms and conditions satisfactory to the COFACE Agent and as
are reasonably commercially available and customary in the industry which shall
cover any loss of, or damage to, the Satellites and the Satellite and Launch
specific ground components, including all components thereof, at all times
during the manufacture, testing, storage and transportation of the Satellites
and the Satellite and Launch specific ground components up to the time of Launch
of the Satellites and until delivery to the Borrower of the Satellite and Launch
specific ground components.
In no event shall the Borrower or the Supplier be required to