AND (B) ALL LAWFUL CLAIMS THAT, IF UNPAID, MIGHT BECOME A
LIEN UPON ANY OF ITS PROPERTIES; PROVIDED, HOWEVER, THAT NO GRANTOR SHALL BE
REQUIRED TO PAY ANY SUCH TAX, ASSESSMENT, CHARGE, LEVY OR CLAIM THAT IS BEING
CONTESTED IN GOOD FAITH AND BY PROPER PROCEEDINGS AND AS TO WHICH SUCH GRANTOR
HAS MAINTAINED ADEQUATE RESERVES WITH RESPECT THERETO IN ACCORDANCE WITH GAAP
UNLESS AND UNTIL ANY LIEN RESULTING THEREFROM ATTACHES TO ANY MATERIAL PART OF
THE COLLATERAL.
4.9
INSURANCE.
(A)
IF ANY GRANTOR FAILS TO OBTAIN AND MAINTAIN ANY OF
THE POLICIES OF INSURANCE REQUIRED TO BE MAINTAINED PURSUANT TO THE TERMS OF THE
LOAN AGREEMENT OR TO PAY ANY PREMIUM IN WHOLE OR IN PART, COBANK MAY, WITHOUT
WAIVING OR RELEASING ANY OBLIGATION OR DEFAULT, AT THE GRANTORS' EXPENSE, BUT
WITHOUT ANY OBLIGATION TO DO SO, PROCURE SUCH POLICIES OR PAY SUCH PREMIUMS.
ALL SUMS SO DISBURSED BY COBANK, INCLUDING REASONABLE ATTORNEYS' FEES, COURT
COSTS, EXPENSES AND OTHER CHARGES RELATED THERETO, SHALL BE PAYABLE BY THE
GRANTORS TO COBANK ON DEMAND AND SHALL BE ADDITIONAL SECURED OBLIGATIONS
HEREUNDER, SECURED BY THE COLLATERAL.
(B)
EACH GRANTOR WILL DELIVER TO COBANK, PROMPTLY AS
RENDERED, TRUE COPIES OF ALL MATERIAL CLAIMS AND REPORTS MADE IN ANY REPORTING
FORMS TO INSURANCE COMPANIES WITH RESPECT TO CLAIMS IN WHICH COBANK IS ENTITLED
TO PARTICIPATE IN THE ADJUSTMENT PROCESS PURSUANT TO THE TERMS OF THE LOAN
AGREEMENT. NOT LESS THAN 30 DAYS PRIOR TO THE EXPIRATION DATE OF THE INSURANCE
POLICIES REQUIRED TO BE MAINTAINED BY ANY GRANTOR PURSUANT TO THE TERMS OF THE
LOAN AGREEMENT, SUCH GRANTOR WILL DELIVER TO COBANK ONE OR MORE CERTIFICATES OF
INSURANCE EVIDENCING RENEWAL OF THE INSURANCE COVERAGE REQUIRED HEREUNDER PLUS
SUCH OTHER EVIDENCE OF PAYMENT OF PREMIUMS THEREFOR AS COBANK MAY REASONABLY
REQUEST. UPON THE REQUEST OF COBANK FROM TIME TO TIME, EACH GRANTOR WILL DELIVER
TO COBANK EVIDENCE THAT THE INSURANCE REQUIRED TO BE MAINTAINED PURSUANT TO THIS
SECTION 4.9 IS IN EFFECT.
17
Amended and Restated Pledge and Security Agreement/New Ulm Telecom, Inc.
Loan No. RX0583
4.10
INTELLECTUAL PROPERTY.
(A)
(I)
EACH GRANTOR WILL, AT ITS OWN EXPENSE, EXECUTE
AND DELIVER UPON THE REQUEST OF COBANK, FULLY COMPLETED GRANTS OF SECURITY
INTERESTS, IN FORM AND SUBSTANCE ACCEPTABLE TO COBANK IN ITS SOLE DISCRETION, IN
THE U.S. COPYRIGHT OFFICE OR THE U.S. PATENT AND TRADEMARK OFFICE PURSUANT TO 35
U.S.C. §261, 15 U.S.C. §1060 OR 17 U.S.C. §205, AS APPLICABLE, WITH REGARD TO
ANY REGISTERED UNITED STATES COPYRIGHT, PATENT, OR TRADEMARK, AS THE CASE MAY
BE, DESCRIBED IN ANNEXES D, E, AND F
HERETO.
IN THE EVENT THAT AFTER THE DATE
HEREOF ANY GRANTOR SHALL ACQUIRE ANY MATERIAL REGISTERED COPYRIGHT, COPYRIGHT
LICENSE, PATENT, PATENT LICENSE, TRADEMARK, OR TRADEMARK LICENSE OR EFFECT ANY
REGISTRATION OF ANY COPYRIGHT, COPYRIGHT LICENSE, PATENT, PATENT LICENSE,
TRADEMARK, OR TRADEMARK LICENSE (INCLUDING, IN EACH CASE, ANY APPLICATION FOR
REGISTRATION THEREOF), WHETHER WITHIN THE UNITED STATES OR ANY OTHER COUNTRY OR
JURISDICTION, SUCH GRANTOR SHALL PROMPTLY FURNISH WRITTEN NOTICE THEREOF TO
COBANK,