TRANSFEREES FROM THE ACCOUNT
DEBTOR OR OTHER PERSON GRANTING THE SECURITY INTEREST.
(I)
EACH GRANTOR SHALL REMAIN LIABLE TO OBSERVE AND PERFORM ALL THE CONDITIONS
AND OBLIGATIONS TO BE OBSERVED AND PERFORMED BY IT UNDER EACH CONTRACT,
AGREEMENT OR INSTRUMENT RELATING TO THE ARTICLE 9 COLLATERAL SUBJECT TO THE
SECURITY INTEREST, ALL IN ACCORDANCE WITH THE TERMS AND CONDITIONS THEREOF, AND
EACH GRANTOR JOINTLY AND SEVERALLY AGREES TO INDEMNIFY AND HOLD HARMLESS THE
COLLATERAL AGENT AND THE OTHER SECURED PARTIES FROM AND AGAINST ANY AND ALL
LIABILITY FOR SUCH PERFORMANCE.
(J)
EACH OF THE GRANTORS WILL MAINTAIN, WITH FINANCIALLY SOUND AND REPUTABLE
INSURANCE COMPANIES, INSURANCE IN SUCH AMOUNTS (WITH NO GREATER RISK RETENTION)
AND AGAINST SUCH RISKS AS ARE CUSTOMARILY MAINTAINED BY COMPANIES OF ESTABLISHED
REPUTE ENGAGED IN THE SAME OR SIMILAR BUSINESSES OPERATING IN THE SAME OR
SIMILAR LOCATIONS. EACH SUCH POLICY OF INSURANCE MAINTAINED BY GRANTORS (OTHER
THAN POLICIES OF THE TYPE IN RESPECT OF WHICH SUCH ACTIONS CUSTOMARILY ARE NOT
REQUIRED) SHALL (I) IN THE CASE OF EACH LIABILITY INSURANCE POLICY, NAME THE
COLLATERAL AGENT, ON BEHALF OF THE SECURED PARTIES, AS AN ADDITIONAL INSURED
THEREUNDER, (II) IN THE CASE OF EACH CASUALTY INSURANCE POLICY, CONTAIN A LOSS
PAYABLE CLAUSE OR ENDORSEMENT THAT NAMES THE COLLATERAL AGENT, ON BEHALF OF THE
SECURED PARTIES, AS THE LOSS PAYEE THEREUNDER AND (III) PROVIDE FOR AT LEAST 30
DAYS' (OR SUCH SHORTER NUMBER OF DAYS MAY BE AGREED TO BY THE COLLATERAL AGENT)
PRIOR WRITTEN NOTICE TO THE COLLATERAL AGENT OF ANY CANCELLATION OF SUCH POLICY.
UPON THE COLLATERAL
16
Agent's request, Symmetry and the Company will furnish to the Collateral Agent
information in reasonable detail as to the insurance so maintained. Each Grantor
irrevocably makes, constitutes and appoints the Collateral Agent (and all
officers, employees or agents designated by the Collateral Agent) as such
Grantor's true and lawful agent (and attorney-in-fact) for the purpose, during
the continuance of an Event of Default, of making, settling and adjusting claims
in respect of Article 9 Collateral subject to the Security Interest under
policies of insurance, endorsing the name of such Grantor on any check, draft,
instrument or other item of payment for the proceeds of such policies of
insurance and for making all determinations and decisions with respect thereto.
All sums disbursed by the Collateral Agent in connection with this paragraph,
including reasonable attorneys' fees, court costs, expenses and other charges
relating thereto, shall be payable, upon demand, by the Grantors to the
Collateral Agent and shall be additional Obligations secured hereby.
(K)
EACH GRANTOR SHALL MAINTAIN, IN CUSTOMARY FORM AND MANNER, RECORDS OF ITS
CHATTEL PAPER AND ITS BOOKS, RECORDS AND DOCUMENTS EVIDENCING OR PERTAINING
THERETO.
SECTION 3.04. OTHER ACTIONS. IN ORDER TO FURTHER ENSURE THE ATTACHMENT,
PERFECTION AND PRIORITY OF, AND THE ABILITY OF THE COLLATERAL AGENT TO ENFORCE,
THE SECURITY INTEREST, EACH GRANTOR AGREES, IN EACH CASE AT SUCH GRANTOR'S OWN
EXPENSE, TO TAKE THE FOLLOWING ACTIONS WITH RESPECT TO THE FOLLOWING ARTICLE 9
COLLATERAL OWNED BY