NOT BE CANCELED OR REDUCED, AMENDED OR
ALLOWED TO LAPSE WITHOUT RENEWAL, EXCEPT AFTER NOT LESS THAN 30 DAYS' PRIOR
NOTICE TO THE ADMINISTRATIVE AGENT OR NOT LESS THAN 15 DAYS' PRIOR NOTICE TO THE
ADMINISTRATIVE AGENT IF 30 DAYS IS NOT THEN COMMERCIALLY AVAILABLE AT A
REASONABLE COST; AND
89
(5)
SHALL, IN THE CASE OF A SATELLITE A PORTION OF WHICH IS OWNED BY
THE BORROWER OR ANY OF ITS RESTRICTED SUBSIDIARIES AND THE BALANCE OF WHICH IS
OWNED BY ANY PERSON THAT IS NOT AN AFFILIATE OF EITHER THE BORROWER OR ANY OF
ITS RESTRICTED SUBSIDIARIES (OTHER THAN BY REASON OF THE BORROWER OR ANY
RESTRICTED SUBSIDIARY HOLDING AN EQUITY INTEREST IN SUCH PERSON), ONLY BE
REQUIRED WITH RESPECT TO THAT PORTION OF THE SATELLITE THAT IS OWNED BY THE
BORROWER OR ANY OF ITS RESTRICTED SUBSIDIARIES OR FOR WHICH THE BORROWER OR ANY
OF ITS RESTRICTED SUBSIDIARIES OTHERWISE RETAINS THE RISK OF LOSS.
(IV)
THIRD PARTY LAUNCH LIABILITY INSURANCE.
THE BORROWER WILL CAUSE
EACH LAUNCH SERVICES PROVIDER TO PROCURE AND MAINTAIN THIRD PARTY LAUNCH
LIABILITY INSURANCE IN FULL FORCE AND EFFECT FOR THE PERIOD REQUIRED UNDER THE
RELEVANT LAUNCH SERVICES AGREEMENT AND TO NAME THE ADMINISTRATIVE AGENT OR
COLLATERAL TRUSTEE, AS APPLICABLE, AND THE LENDERS AS ADDITIONAL INSUREDS
THEREUNDER.
(V)
DELIVERY OF INSURANCE POLICIES.
THE BORROWER SHALL USE
COMMERCIALLY REASONABLE EFFORTS TO DELIVER TO THE ADMINISTRATIVE AGENT, OR THE
COLLATERAL TRUSTEE, AS THE CASE MAY BE, NOT LATER THAN 30 DAYS BEFORE THE
THEN-SCHEDULED LAUNCH OF ANY COVERED SATELLITE AND, WITH RESPECT TO IN-ORBIT
INSURANCE PROCURED, NOT LATER THAN 15 DAYS BEFORE THE EXPIRATION OF THE RELEVANT
LAUNCH INSURANCE, A PRELIMINARY COPY OF THE LAUNCH INSURANCE POLICY AND THE
IN-ORBIT INSURANCE POLICY, AS THE CASE MAY BE, WITH RESPECT THERETO, AND NOT
LATER THAN THE DATE ON WHICH SUCH INSURANCE IS REQUIRED TO BE PROCURED AS
PROVIDED IN CLAUSE (II) OR CLAUSE (III) ABOVE, AS THE CASE MAY BE, SHALL DELIVER
TO THE ADMINISTRATIVE AGENT THE FINAL COPY OF SUCH POLICY TOGETHER WITH
CERTIFICATES OF INSURANCE WITH RESPECT THERETO, CONFIRMING (A) THAT SUCH
INSURANCE IS IN FULL FORCE AND EFFECT AS OF SUCH DATE, (B) THE NAMES AND
PERCENTAGES OF THE RELEVANT INSURANCE COMPANIES, (C) THE AMOUNT AND EXPIRATION
DATES OF SUCH POLICY, (D) THAT ALL PREMIUMS AND OTHER AMOUNTS DUE FOR SUCH
INSURANCE HAVE BEEN PAID IN FULL, (E) THAT, IN THE RELEVANT BROKER'S OPINION,
SUCH POLICY IS IN COMPLIANCE WITH THIS SECTION 9.3, AND (F) THAT THE COLLATERAL
TRUSTEE (AND, IN THE CASE OF THIRD PARTY LAUNCH LIABILITY INSURANCE POLICIES,
THE LENDERS) IS NAMED AS ADDITIONAL INSURED AND THE COLLATERAL TRUSTEE IS NAMED
AS LOSS PAYEE THEREUNDER AS ITS INTERESTS MAY APPEAR, TO THE EXTENT REQUIRED
HEREBY.
(c)
Procurement of Insurance by Administrative Agent.
Without
limiting the obligations of the Borrower under this Section 9.3, in the event
the Borrower or any Restricted Subsidiary shall fail to maintain in full force
and effect insurance as required by this Section 9.3, then the Administrative