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This excerpt taken from the TUES 10-K filed Feb 24, 2006. SECTION 4.2. Maintenance of Insurance.(a) Each Grantor will maintain, with financially sound and reputable companies, insurance policies (i) insuring the Collateral against loss by fire, explosion, theft, fraud and such other casualties in amounts and with deductibles at least as favorable as those generally maintained by businesses of similar size engaged in similar activities and (ii) insuring such Grantor and the Administrative Agent, for the ratable benefit of the Administrative Agent and the Lenders, against liability for hazards, risks and liability to persons and property relating to the Collateral.(b) All such insurance shall (i) name the Administrative Agent for the ratable benefit of itself and the Lenders as loss payee (to the extent covering risk of loss or damage to tangible
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property constituting Collateral) and as an additional insured as its interests may appear (to the extent covering any other risk), and (ii) provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least thirty (30) days after receipt by the Administrative Agent of written notice thereof.(c) Upon the request of the Administrative Agent, each Grantor shall deliver to the Administrative Agent and the Lenders periodic information from a reputable insurance broker with respect to the insurance referred to in this Section 4.2.SECTION 4.3. Changes in Locations; Changes in Name or Structure. No Grantor will, except upon thirty (30) days’ prior written notice to the Administrative Agent and delivery to the Administrative Agent of (a) all additional financing statements (executed if necessary for any particular filing jurisdiction) and other instruments and documents reasonably requested by the Administrative Agent to maintain the validity, perfection and priority of the Security Interests and (b) if applicable, a written supplement to the Schedules of this Agreement:
(i) permit any Deposit Account subject to a control agreement in favor of the Administrative Agent to be held by or at a depositary bank other than the depositary bank identified in such control agreement;(ii) permit any of the Inventory, other than Inventory in transit in the ordinary course of business, to be kept at a location other than those listed on Schedule 3.6, except as otherwise permitted hereunder (including as contemplated in Section 4.6(b)); provided, that the Grantors may move Inventory to individual retail store locations that are acquired, created or otherwise opened after the date hereof in accordance with the Credit Agreement; provided, further that no less frequently than on each anniversary of the Closing Date, the Grantors shall provide the Administrative Agent with a list of all locations of Inventory.(iii) permit any Investment Property Collateral (other than Certificated Securities delivered to the Administrative Agent pursuant to Section 4.5) subject to a control agreement in favor of the Administrative Agent to be held by or at a Securities Intermediary other than the Securities Intermediary identified in such control agreement;(iv) change its jurisdiction of organization or the location of its chief executive office from that identified on Schedule 3.6; or(v) change its name, identity or corporate or organizational structure to such an extent that any financing statement filed by the Administrative Agent in connection with this Agreement would become misleading.SECTION 4.4. Required Notifications. (a) Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than the Security Interests or Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder, (ii) the occurrence of any other event which could reasonably be expected to have a Material Adverse Effect on the aggregate value of the Collateral or on the Security Interests, and (iii) the acquisition, opening or other ownership by such Grantor of any (A) concentration, sweep or other material Deposit Account (each of the
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This excerpt taken from the TUES 10-K filed Mar 9, 2005. SECTION 4.2. Maintenance of Insurance.(a) Each Grantor will maintain, with financially sound and reputable companies, insurance policies (i) insuring the Collateral against loss by fire, explosion, theft, fraud and such other casualties in amounts and with deductibles at least as favorable as those generally maintained by businesses of similar size engaged in similar activities and (ii) insuring such Grantor and the Administrative Agent, for the ratable benefit of the Administrative Agent and the Lenders, against liability for hazards, risks and liability to persons and property relating to the Collateral.(b) All such insurance shall (i) name the Administrative Agent for the ratable benefit of itself and the Lenders as loss payee (to the extent covering risk of loss or damage to tangible
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property constituting Collateral) and as an additional insured as its interests may appear (to the extent covering any other risk), and (ii) provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least thirty (30) days after receipt by the Administrative Agent of written notice thereof.(c) Upon the request of the Administrative Agent, each Grantor shall deliver to the Administrative Agent and the Lenders periodic information from a reputable insurance broker with respect to the insurance referred to in this Section 4.2.SECTION 4.3. Changes in Locations; Changes in Name or Structure. No Grantor will, except upon thirty (30) days’ prior written notice to the Administrative Agent and delivery to the Administrative Agent of (a) all additional financing statements (executed if necessary for any particular filing jurisdiction) and other instruments and documents reasonably requested by the Administrative Agent to maintain the validity, perfection and priority of the Security Interests and (b) if applicable, a written supplement to the Schedules of this Agreement:
(i) permit any Deposit Account subject to a control agreement in favor of the Administrative Agent to be held by or at a depositary bank other than the depositary bank identified in such control agreement;(ii) permit any of the Inventory, other than Inventory in transit in the ordinary course of business, to be kept at a location other than those listed on Schedule 3.6, except as otherwise permitted hereunder (including as contemplated in Section 4.6(b)); provided, that the Grantors may move Inventory to individual retail store locations that are acquired, created or otherwise opened after the date hereof in accordance with the Credit Agreement; provided, further that no less frequently than on each anniversary of the Closing Date, the Grantors shall provide the Administrative Agent with a list of all locations of Inventory.(iii) permit any Investment Property Collateral (other than Certificated Securities delivered to the Administrative Agent pursuant to Section 4.5) subject to a control agreement in favor of the Administrative Agent to be held by or at a Securities Intermediary other than the Securities Intermediary identified in such control agreement;(iv) change its jurisdiction of organization or the location of its chief executive office from that identified on Schedule 3.6; or(v) change its name, identity or corporate or organizational structure to such an extent that any financing statement filed by the Administrative Agent in connection with this Agreement would become misleading.SECTION 4.4. Required Notifications. (a) Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than the Security Interests or Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder, (ii) the occurrence of any other event which could reasonably be expected to have a Material Adverse Effect on the aggregate value of the Collateral or on the Security Interests, and (iii) the acquisition, opening or other ownership by such Grantor of any (A) concentration, sweep or other material Deposit Account (each of the
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