Kodak 2011 Annual Report Download - page 439

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 and to the extent permitted by and in accordance
with the Interim Order (and when applicable, the Final Order) and without further order from the Bankruptcy Court, without further order from the
Bankruptcy Court, 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 and to the extent permitted
by and in accordance with the Interim Order (and when applicable, the Final Order) and without further order from the Bankruptcy Court, without further
order from the Bankruptcy Court, duly execute and deliver instruments of assignment of such insurance policies to comply with the requirements of Section
1(i) 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 damages covered by such insurance. In case of any loss involving damage to Equipment or Inventory when subsection
(c) of this Section 9 is not applicable, the applicable Grantor, to the extent determined to be in the business interest of such Grantor, will make or cause to
be made the necessary repairs to or replacements of such Equipment or Inventory, and any proceeds of insurance properly received by or released to such
Grantor shall be used by such Grantor, except as otherwise required hereunder, by the Credit Agreement or the Interim Order (and when applicable, the
Final Order), to pay or as reimbursement for the costs of such repairs or replacements or, if such Grantor determines not to repair or replace such Equipment
or Inventory, treat the loss or damage as a disposition under Section 5.02(e)(v) of the Credit Agreement.
(c) So long as no Event of Default shall have occurred and be continuing, all insurance payments received by the Agent in connection
with any loss, damage or destruction of any Inventory or Equipment will be released by the Agent to the applicable Grantor. Upon the occurrence and
during the continuance of any Event of Default, to the extent permitted by and in accordance with the Interim Order (and when applicable, the Final Order)
and without further order from the Bankruptcy Court, all insurance payments in respect of such Equipment or Inventory shall be paid to the Agent and shall,
in the Agent’s sole discretion, (i) be released to the applicable Grantor for the repair, replacement or restoration thereof, (ii) be held as additional Collateral
hereunder or applied as specified in Section 19(b) or (iii) be released to the Agent Sweep Account and applied as provided in Section 2.18(h) of the Credit
Agreement.
Section 10. Post-Closing Changes; Collections on Assigned Agreements and Receivables
(a) No Grantor will change its name, type of organization, jurisdiction of organization or organizational identification number from those
set forth in Schedule V of this Agreement without first giving at least 15 Business Days prior written notice to the Agent, or such lesser period of time as
agreed by the Agent, and taking all action reasonably required by the Agent for the purpose of perfecting or protecting the security interest granted by this
Agreement. Each Grantor will hold and preserve its records relating to the Collateral, including, without limitation, the Assigned Agreements and Related
Contracts, and will permit representatives of the Agent at any time during normal business hours to inspect and make
14