Kodak 2011 Annual Report Download - page 363

(a) Each Grantor will keep its Equipment having a value in excess of $5,000,000 and Inventory having a value in excess of $5,000,000 (other
than Inventory sold in the ordinary course of business) at the places therefor specified in Schedule VIII and Schedule IX, respectively, or, upon 30 days'
prior written notice to the Agent (or lesser time as may be agreed by the Agent), at such other places designated by such Grantor in such notice.
SECTION 9 INSURANCE
(b)
Each Grantor will pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon,
and all claims (including, without limitation, claims for labor, materials and supplies) against, its Equipment and Inventory, except to the
extent payment thereof is not required by Section 5.01(b) of the Credit Agreement. In producing its Inventory, each Grantor will comply
with all requirements of applicable law, except where the failure to so comply will not have a Material Adverse Effect.
(a)
Each Grantor will, at its own expense, maintain or cause to be maintained, insurance with respect to its Equipment and Inventory in such
amounts, against such risks, in such form and with such insurers, as shall be customary for similar businesses of the size and scope of the
Borrower on a consolidated basis, provided however that the Grantor may self insure to the extent consistent with prudent business
practice. Each policy of each Grantor for liability insurance shall provide for all losses to be paid on behalf of the Agent and such Grantor
as their interests may appear, and each policy for property damage insurance shall provide for all losses, except for losses of less than
$12,500,000 per occurrence, to be paid in accordance with the Lender loss payee provisions which were requested pursuant to clause (iv)
below, directly to the Agent. So long as no Event of Default shall have occurred and be continuing, all property damage insurance
payments received by the Agent in connection with any loss, damage or destruction of Inventory will be released by the Agent to the
applicable Grantor. Each such policy shall in addition (i) name such Grantor and the Agent as insured parties thereunder (without any
representation or warranty by or obligation upon the Agent) as their interests may appear, (ii) provide that there shall be no recourse
against the Agent for payment of premiums or other amounts with respect thereto, (iii) provide that at least 10 days’
prior written notice
of cancellation or of lapse shall be given to the Agent by the insurer and (iv) contain such other customary lender loss payee provisions as
the Agent shall reasonably request. Each Grantor will, if so requested by the Agent, deliver to the Agent certificates of insurance
evidencing such insurance and, as often as the Agent may reasonably request, a report of a reputable insurance broker or the insurer with
respect to such insurance. Further, each Grantor will, at the request of the Agent, duly execute and deliver instruments of assignment of
such insurance policies to comply with the requirements of Section 1(g) and cause the insurers to acknowledge notice of such assignment.
(b)
Reimbursement under any liability insurance maintained by any Grantor pursuant to this Section 9 may be paid directly to the Person who
shall have incurred
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