Common use of Disclosure and Notification to Insurers Clause in Contracts

Disclosure and Notification to Insurers. The Assignor undertakes to notify the relevant Insurer(s) of this Agreement and of the assignment of any rights and claims under the respective Insurance Policy and to provide the Security Agent with a copy of such notification and the requested return receipt. Notwithstanding such assignment the Assignor will continue to be obliged under the Insurance Policies with the proviso that the Assignor is not entitled to terminate any of the Insurance Policies without the prior written consent of the Security Agent. Insofar as additional declarations and actions are necessary for the assignment of the insurance claims the Transferor shall, at the Security Agent’s request, make such additional declarations or undertake such actions.