OR DAMAGE IN RESPECT OF
THE ASSETS, PROPERTIES AND BUSINESSES OF THE BORROWER AND ITS SUBSIDIARIES AS
MAY CUSTOMARILY BE CARRIED OR MAINTAINED UNDER SIMILAR CIRCUMSTANCES BY PERSONS
OF ESTABLISHED REPUTATION ENGAGED IN SIMILAR BUSINESSES, IN EACH CASE IN SUCH
AMOUNTS (GIVING EFFECT TO SELF-INSURANCE), WITH SUCH DEDUCTIBLES, COVERING SUCH
RISKS AND OTHERWISE ON SUCH TERMS AND CONDITIONS AS SHALL BE CUSTOMARY FOR SUCH
PERSONS.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE BORROWER WILL
MAINTAIN OR CAUSE TO BE MAINTAINED (A) FLOOD INSURANCE WITH RESPECT TO EACH
FLOOD HAZARD PROPERTY THAT IS LOCATED IN A COMMUNITY THAT PARTICIPATES IN THE
NATIONAL FLOOD INSURANCE PROGRAM, IN EACH CASE IN COMPLIANCE WITH ANY APPLICABLE
REGULATIONS OF THE
86
Board of Governors of the Federal Reserve System, and (b) replacement value
casualty insurance on the Collateral under such policies of insurance, with such
insurance companies, in such amounts, with such deductibles, and covering such
risks as are at all times carried or maintained under similar circumstances by
Persons of established reputation engaged in similar businesses.
Each such
policy of insurance shall (i) name Collateral Agent, on behalf of Secured
Parties as an additional insured thereunder as its interests may appear and (ii)
in the case of each casualty insurance policy, contain a loss payable clause or
endorsement, satisfactory in form and substance to the Collateral Agent, that
names the Collateral Agent, on behalf of Lenders, as the loss payee thereunder
and provides for at least thirty days' prior written notice to the Collateral
Agent of any modification or cancellation of such policy.
5.6
INSPECTIONS.
EACH CREDIT PARTY WILL, AND WILL CAUSE EACH OF ITS
SUBSIDIARIES TO, PERMIT ANY AUTHORIZED REPRESENTATIVES DESIGNATED BY ANY AGENT
OR ANY LENDER, OR ANY AGENTS OR REPRESENTATIVES THEREOF, TO VISIT AND INSPECT
ANY OF THE PROPERTIES OF ANY CREDIT PARTY AND ANY OF ITS SUBSIDIARIES, TO (A)
INSPECT, COPY AND TAKE EXTRACTS FROM ITS AND THEIR FINANCIAL AND ACCOUNTING
RECORDS AND (B) DISCUSS ITS AND THEIR AFFAIRS, FINANCES AND ACCOUNTS WITH ITS
AND THEIR RESPECTIVE OFFICERS AND DIRECTORS, ALL UPON REASONABLE NOTICE (EXCEPT
THAT DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, NO SUCH NOTICE SHALL BE
REQUIRED) AND AT SUCH REASONABLE TIMES DURING NORMAL BUSINESS HOURS AND AS OFTEN
AS MAY REASONABLY BE REQUESTED.
THE BORROWER SHALL AUTHORIZE ITS CERTIFIED
PUBLIC ACCOUNTANTS (INCLUDING THE BORROWER'S ACCOUNTANTS), AND SHALL CAUSE THE
CERTIFIED PUBLIC ACCOUNTANTS OF ANY OTHER SUBSIDIARY OF THE BORROWER, IF ANY, TO
DISCLOSE TO THE AGENTS OR ANY LENDER ANY AND ALL FINANCIAL STATEMENTS AND OTHER
INFORMATION OF ANY KIND, AS ANY SUCH AGENT OR ANY LENDER REASONABLY REQUESTS AND
THAT SUCH ACCOUNTANTS MAY HAVE WITH RESPECT TO THE BUSINESS, FINANCIAL
CONDITION, RESULTS OF OPERATIONS OR OTHER AFFAIRS OF THE BORROWER OR ANY OTHER
SUBSIDIARY OF THE BORROWER.
5.7
LENDERS MEETINGS.
THE BORROWER WILL, UPON THE REQUEST OF THE
ADMINISTRATIVE AGENT OR THE REQUISITE LENDERS, PARTICIPATE IN A MEETING OF THE
ADMINISTRATIVE AGENT AND THE LENDERS ONCE DURING EACH FISCAL YEAR TO BE HELD