Common use of Evidence of Insurance Coverage Clause in Contracts

Evidence of Insurance Coverage. The Administrative Agent shall have received copies of insurance policies, binders or certificates of insurance, in form and substance satisfactory to the Administrative Agent, evidencing that the Borrowers have and are maintaining the minimum insurance coverages required by this Agreement and the other Loan Documents, together with all required endorsements of such policies (such policies shall name the Administrative Agent as an additional insured (in the case of liability insurance) or the loss payee (in the case of hazard insurance)). Such insurance policies, binders or certificates of insurance shall show the carrier, policy number, expiration date, type, amount and deductibles for each such insurance policy.