OR OTHER TRANSFER OF
TITLE TO THE PROPERTY IN EXTINGUISHMENT IN WHOLE OR IN PART OF THE DEBT, ALL
RIGHT, TITLE AND INTEREST OF BORROWER IN AND TO THE POLICIES THAT ARE NOT
BLANKET POLICIES THEN IN FORCE CONCERNING THE PROPERTY AND ALL PROCEEDS PAYABLE
THEREUNDER SHALL THEREUPON VEST IN THE PURCHASER AT SUCH FORECLOSURE OR LENDER
OR OTHER TRANSFEREE IN THE EVENT OF SUCH OTHER TRANSFER OF TITLE.
(H)
NOTWITHSTANDING ANYTHING IN SECTION 5.1.1(A)(I) TO THE CONTRARY,
BORROWER SHALL BE REQUIRED TO OBTAIN AND MAINTAIN POLICIES WHICH DO NOT CONTAIN
EXCLUSIONS FOR "FIRE FOLLOWING" TO THE EXTENT THAT INSURANCE COVERAGE IS
AVAILABLE WITHOUT SUCH EXCLUSIONS.
5.1.2
INSURANCE COMPANY.
THE POLICIES SHALL BE ISSUED BY FINANCIALLY
SOUND AND RESPONSIBLE INSURANCE COMPANIES AUTHORIZED TO DO BUSINESS IN THE STATE
IN WHICH THE PROPERTY IS LOCATED AND HAVING A CLAIMS PAYING ABILITY RATING OF
"A" OR BETTER BY S&P AND, TO THE EXTENT RATED BY MOODY'S AND/OR FITCH, THE
EQUIVALENT RATING FROM EACH OF MOODY'S AND/OR FITCH, AS APPLICABLE (PROVIDED,
HOWEVER, THAT THE POLICIES FOR GENERAL LIABILITY INSURANCE SET FORTH IN
SUBSECTIONS (A)(II), (A)(V), (A)(VII) AND (A)(VIII) ABOVE SHALL BE ISSUED BY
INSURANCE COMPANIES HAVING A CLAIMS PAYING ABILITY RATING OF "A-" OR BETTER BY
S&P AND, TO THE EXTENT RATED BY MOODY'S AND/OR FITCH, THE EQUIVALENT RATING FROM
EACH OF MOODY'S AND/OR FITCH, AS APPLICABLE). IF A SECURITIZATION OCCURS, (I)
THE FOREGOING REQUIRED INSURANCE COMPANY RATING BY A RATING AGENCY NOT RATING
ANY SECURITIES SHALL BE DISREGARDED AND (II) IF THE INSURANCE COMPANY COMPLIES
WITH THE AFORESAID S&P REQUIRED RATING (AND S&P IS RATING THE SECURITIES) AND
THE OTHER RATING AGENCIES RATING THE SECURITIES DO NOT RATE THE INSURANCE
COMPANY, SUCH INSURANCE COMPANY SHALL BE DEEMED ACCEPTABLE WITH RESPECT TO SUCH
RATING AGENCY NOT RATING SUCH INSURANCE COMPANY. NOTWITHSTANDING THE FOREGOING,
BORROWER SHALL BE PERMITTED TO MAINTAIN THE POLICIES WITH
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INSURANCE COMPANIES WHICH DO NOT MEET THE FOREGOING REQUIREMENTS (AN "OTHERWISE
RATED INSURER"), PROVIDED BORROWER OBTAINS A "CUT-THROUGH" ENDORSEMENT (THAT IS,
AN ENDORSEMENT WHICH PERMITS RECOVERY AGAINST THE PROVIDER OF SUCH ENDORSEMENT)
WITH RESPECT TO ANY OTHERWISE RATED INSURER FROM AN INSURANCE COMPANY WHICH
MEETS THE CLAIMS PAYING ABILITY RATINGS REQUIRED ABOVE. MOREOVER, IF BORROWER
DESIRES TO MAINTAIN INSURANCE REQUIRED HEREUNDER FROM AN INSURANCE COMPANY WHICH
DOES NOT MEET THE CLAIMS PAYING ABILITY RATINGS SET FORTH HEREIN BUT THE PARENT
OF SUCH INSURANCE COMPANY, WHICH OWNS AT LEAST FIFTY-ONE PERCENT (51%) OF SUCH
INSURANCE COMPANY, MAINTAINS SUCH RATINGS, BORROWER MAY USE SUCH INSURANCE
COMPANIES IF APPROVED BY THE RATING AGENCIES (SUCH APPROVAL MAY BE CONDITIONED
ON ITEMS REQUIRED BY THE RATING AGENCIES INCLUDING A REQUIREMENT THAT THE PARENT
GUARANTEE THE OBLIGATIONS OF SUCH INSURANCE COMPANY).
SECTION 5.2
CASUALTY AND CONDEMNATION.
5.2.1
CASUALTY.
IF THE PROPERTY SHALL SUSTAIN A CASUALTY, BORROWER SHALL
GIVE PROMPT NOTICE OF SUCH CASUALTY TO LENDER AND SHALL, SUBJECT TO LEGAL
REQUIREMENTS OF ANY GOVERNMENTAL AUTHORITIES, PROMPTLY COMMENCE AND DILIGENTLY
PROSECUTE TO COMPLETION THE REPAIR AND RESTORATION OF THE PROPERTY AS NEARLY AS
POSSIBLE TO THE