CLAIMS UNDER SUCH INSURANCE.
(B)
WITH RESPECT TO EACH PROPERTY OF SUCH LOAN PARTIES SUBJECT TO A
MORTGAGE (IF ANY) ACQUIRED AFTER THE CLOSING DATE:
(I)
IF ANY PORTION OF ANY SUCH PROPERTY IS LOCATED IN AN AREA
IDENTIFIED AS A SPECIAL FLOOD HAZARD AREA BY THE FEDERAL EMERGENCY MANAGEMENT
AGENCY OR OTHER
109
APPLICABLE AGENCY, SUCH LOAN PARTY SHALL MAINTAIN OR CAUSE TO BE MAINTAINED,
FLOOD INSURANCE TO THE EXTENT REQUIRED BY LAW.
(II)
THE APPLICABLE LOAN PARTY PROMPTLY SHALL COMPLY WITH AND CONFORM
TO (I) ALL PROVISIONS OF EACH SUCH INSURANCE POLICY, AND (II) ALL REQUIREMENTS
OF THE INSURERS APPLICABLE TO SUCH PARTY OR TO SUCH PROPERTY OR TO THE USE,
MANNER OF USE, OCCUPANCY, POSSESSION, OPERATION, MAINTENANCE, ALTERATION OR
REPAIR OF SUCH PROPERTY, EXCEPT FOR SUCH NON-COMPLIANCE OR NON-CONFORMITY AS
WOULD NOT, INDIVIDUALLY OR IN THE AGGREGATE, REASONABLY BE EXPECTED TO HAVE A
MATERIAL ADVERSE EFFECT.
SUCH LOAN PARTY SHALL NOT USE OR PERMIT THE USE OF
SUCH PROPERTY IN ANY MANNER THAT WOULD REASONABLY BE EXPECTED TO RESULT IN THE
CANCELLATION OF ANY SUCH INSURANCE POLICY OR WOULD REASONABLY BE EXPECTED TO
VOID COVERAGE REQUIRED TO BE MAINTAINED WITH RESPECT TO SUCH PROPERTY PURSUANT
TO CLAUSE (A) OF THIS SUBSECTION 6.5.
(III)
IF ANY SUCH LOAN PARTY IS IN DEFAULT OF ITS OBLIGATIONS TO INSURE
OR DELIVER ANY SUCH PREPAID POLICY OR POLICIES, THE RESULT OF THAT WOULD
REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT, THEN THE
ADMINISTRATIVE AGENT, AT ITS OPTION UPON 10 DAYS' WRITTEN NOTICE TO THE PARENT
BORROWER, MAY EFFECT SUCH INSURANCE FROM YEAR TO YEAR AT RATES SUBSTANTIALLY
SIMILAR TO THE RATE AT WHICH SUCH LOAN PARTY HAD INSURED SUCH PROPERTY, AND PAY
THE PREMIUM OR PREMIUMS THEREFORE, AND THE PARENT BORROWER SHALL PAY OR CAUSE TO
BE PAID TO THE ADMINISTRATIVE AGENT ON DEMAND SUCH PREMIUM OR PREMIUMS SO PAID
BY THE ADMINISTRATIVE AGENT WITH INTEREST FROM THE TIME OF PAYMENT AT A RATE PER
ANNUM EQUAL TO 2.00%.
(IV)
IF SUCH PROPERTY, OR ANY PART THEREOF, SHALL BE DESTROYED OR
DAMAGED AND THE REASONABLY ESTIMATED COST THEREOF WOULD EXCEED $5.0 MILLION THE
PARENT BORROWER SHALL GIVE PROMPT NOTICE THEREOF TO THE ADMINISTRATIVE AGENT.
ALL INSURANCE PROCEEDS PAID OR PAYABLE IN CONNECTION WITH ANY DAMAGE OR CASUALTY
TO ANY SUCH PROPERTY SHALL BE APPLIED IN THE MANNER SPECIFIED IN SUBSECTION
6.5(A).
6.6
INSPECTION OF PROPERTY; BOOKS AND RECORDS; DISCUSSIONS.
KEEP
PROPER BOOKS OF RECORDS AND ACCOUNT IN WHICH FULL, COMPLETE AND CORRECT ENTRIES
IN CONFORMITY WITH GAAP AND ALL MATERIAL REQUIREMENTS OF LAW SHALL BE MADE OF
ALL DEALINGS AND TRANSACTIONS IN RELATION TO ITS BUSINESS AND ACTIVITIES; AND
PERMIT REPRESENTATIVES OF THE ADMINISTRATIVE AGENT TO VISIT AND INSPECT ANY OF
ITS PROPERTIES AND EXAMINE AND, TO THE EXTENT REASONABLE, MAKE ABSTRACTS FROM
ANY OF ITS BOOKS AND RECORDS AND TO DISCUSS THE BUSINESS, OPERATIONS, PROPERTIES
AND FINANCIAL AND OTHER CONDITION OF THE PARENT BORROWER AND ITS RESTRICTED
SUBSIDIARIES WITH OFFICERS AND EMPLOYEES OF THE PARENT BORROWER AND