This excerpt taken from the EYE 8-K filed Apr 3, 2007.
7.07 Maintenance of Insurance.
(a) Maintain with financially sound and reputable insurance companies not Affiliates of the Borrower, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar circumstances by such other Persons.
(b) Such insurance shall (i) provide that the insurance carrier shall endeavor to provide for not less than 30 days prior notice to the Administrative Agent of termination, lapse or cancellation of such insurance; and (ii) name the Administrative Agent as mortgagee (in the case of property insurance), additional insured on behalf of the Secured Parties (in the case of liability insurance) or loss payee (in the case of property insurance), as applicable.
(c) With respect to each Mortgaged Property, if any, obtain flood insurance, if at any time the area in which any improvements located on any Mortgaged Property is designated a flood hazard area in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as amended from time to time.