SOUND AND REPUTABLE INSURERS, INSURANCE AGAINST OTHER
HAZARDS AND RISKS AND LIABILITY TO PERSONS AND PROPERTY TO THE EXTENT AND IN THE
MANNER WHICH THE COMPANY REASONABLY BELIEVES IS CUSTOMARY FOR COMPANIES IN
SIMILAR BUSINESS SIMILARLY SITUATED AS THE COMPANY AND ITS SUBSIDIARIES AND TO
THE EXTENT AVAILABLE ON COMMERCIALLY REASONABLE TERMS.
THE COMPANY, AND EACH OF
ITS SUBSIDIARIES, WILL JOINTLY AND SEVERALLY BEAR THE FULL RISK OF LOSS FROM ANY
LOSS OF ANY NATURE WHATSOEVER WITH RESPECT TO THE ASSETS PLEDGED TO THE
PURCHASER AS SECURITY FOR THEIR RESPECTIVE OBLIGATIONS HEREUNDER AND UNDER THE
RELATED AGREEMENTS.
AT THE COMPANY'S AND EACH OF ITS SUBSIDIARIES' JOINT AND
SEVERAL COST AND EXPENSE IN AMOUNTS AND WITH CARRIERS REASONABLY ACCEPTABLE TO
THE PURCHASER, EACH OF THE COMPANY AND EACH OF ITS SUBSIDIARIES SHALL (I) KEEP
ALL ITS INSURABLE PROPERTIES AND PROPERTIES IN WHICH IT HAS AN INTEREST INSURED
AGAINST THE HAZARDS OF FIRE, FLOOD, SPRINKLER LEAKAGE, THOSE HAZARDS COVERED BY
EXTENDED COVERAGE INSURANCE AND SUCH OTHER HAZARDS, AND FOR SUCH AMOUNTS, AS IS
CUSTOMARY IN THE CASE OF COMPANIES ENGAGED IN BUSINESSES SIMILAR TO THE
COMPANY'S OR THE RESPECTIVE SUBSIDIARY'S INCLUDING BUSINESS INTERRUPTION
INSURANCE; (II) MAINTAIN A BOND IN SUCH AMOUNTS AS IS CUSTOMARY IN THE CASE OF
COMPANIES ENGAGED IN BUSINESSES SIMILAR TO THE COMPANY'S OR THE RESPECTIVE
SUBSIDIARY'S INSURING AGAINST LARCENY, EMBEZZLEMENT OR OTHER CRIMINAL
MISAPPROPRIATION OF INSURED'S OFFICERS AND EMPLOYEES WHO MAY EITHER SINGLY OR
JOINTLY WITH OTHERS AT ANY TIME HAVE ACCESS TO THE ASSETS OR FUNDS OF THE
COMPANY OR ANY OF ITS SUBSIDIARIES EITHER DIRECTLY OR THROUGH GOVERNMENTAL
AUTHORITY TO DRAW UPON SUCH FUNDS OR TO DIRECT GENERALLY THE DISPOSITION OF SUCH
ASSETS; (III) MAINTAIN PUBLIC AND PRODUCT LIABILITY INSURANCE AGAINST CLAIMS FOR
PERSONAL INJURY, DEATH OR PROPERTY DAMAGE SUFFERED BY OTHERS; (IV) MAINTAIN ALL
SUCH WORKER'S COMPENSATION OR SIMILAR INSURANCE AS MAY BE REQUIRED UNDER THE
LAWS OF ANY STATE OR JURISDICTION IN WHICH THE COMPANY OR THE RESPECTIVE
SUBSIDIARY IS ENGAGED IN BUSINESS; AND (V) FURNISH THE PURCHASER WITH (X) COPIES
OF ALL POLICIES AND EVIDENCE OF THE MAINTENANCE OF SUCH POLICIES AT LEAST THIRTY
(30) DAYS BEFORE ANY EXPIRATION DATE, (Y) EXCEPTING THE COMPANY'S WORKERS'
COMPENSATION POLICY, ENDORSEMENTS TO SUCH POLICIES NAMING THE PURCHASER AS
"CO-INSURED" OR "ADDITIONAL INSURED" AND APPROPRIATE LOSS PAYABLE ENDORSEMENTS
IN FORM AND SUBSTANCE SATISFACTORY TO THE PURCHASER, NAMING THE PURCHASER AS
LOSS PAYEE, AND (Z) EVIDENCE THAT AS TO THE PURCHASER THE INSURANCE COVERAGE
SHALL NOT BE IMPAIRED OR INVALIDATED BY ANY ACT OR NEGLECT OF THE COMPANY OR ANY
SUBSIDIARY AND THE INSURER WILL PROVIDE THE PURCHASER WITH AT LEAST THIRTY (30)
DAYS NOTICE PRIOR TO CANCELLATION.
THE COMPANY AND EACH SUBSIDIARY SHALL
INSTRUCT THE INSURANCE CARRIERS THAT IN THE EVENT OF ANY LOSS THEREUNDER, THE
CARRIERS SHALL MAKE PAYMENT FOR SUCH LOSS TO THE COMPANY AND/OR THE SUBSIDIARY
AND THE PURCHASER JOINTLY.
IN THE EVENT THAT AS OF THE DATE OF RECEIPT OF EACH
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loss recovery upon any such insurance, the Purchaser has not