Common use of Purchase of Policies Clause in Contracts

Purchase of Policies. The Owner shall purchase the Policies described in Exhibit A from the Insurer. The parties have taken all necessary action to cause the Insurers to issue the Policies and shall take any further action which may be necessary to cause the Policies to conform to the provision of this Agreement. The parties agree that the Policies shall be subject to the terms and conditions of this Agreement and of the collateral assignments (the "Collateral Assignments") filed with the Insurers relating to the Policies.