Incredimail 2011 Annual Report Download - page 187

2.16 Environmental Matters
. The Company is in compliance in all material respects with all applicable Environmental Laws, which compliance
includes the possession by the Company of all permits and other Governmental Authorizations required under applicable Environmental Laws, and compliance with
the terms and conditions thereof. The Company has not received any notice or other communication (in writing or otherwise), whether from a Governmental Body,
citizens group, employee or otherwise, that alleges that the Company is not in compliance with any Environmental Law, and, to the Company’
s Knowledge, there are
no circumstances that may prevent or interfere with the Company’s compliance with any Environmental Law in the future. To the Company’
s Knowledge, no current
or prior owner of any property leased or controlled by the Company has received any notice or other communication (in writing or otherwise), whether from a
Governmental Body, citizens group, employee or otherwise, that alleges that such current or prior owner or the Company is not in compliance with any Environmental
Law with respect to such property. All Governmental Authorizations currently held by the Company pursuant to Environmental Laws are identified in Part 2.16
of the
Disclosure Schedule. (For purposes of this Section 2.16: (i) “ Environmental Law ”
means any Legal Requirement relating to pollution, hazardous materials or
protection of human health or the environment (including ambient air, surface water, ground water, land surface or subsurface strata), including any law or regulation
relating to emissions, discharges, releases or threatened releases of Materials of Environmental Concern, or otherwise relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Materials of Environmental Concern; and (ii) “ Materials of Environmental Concern ”
include
chemicals, pollutants, contaminants, wastes, toxic substances, petroleum and petroleum products and any other substance that is now regulated by any Environmental
Law.)
2.17 Insurance .
(a) Part 2.17(a)
of the Disclosure Schedule lists all material insurance policies held by or on behalf of the Company, including the names of
the brokers, insurers, the principal insured and each named insured or beneficiary, the policy number and period of coverage, the type of interest and asset covered by
the insurance policy, the annual premiums, the amount of any deductible, termination provisions, change of control provisions, waiver of subrogation rights and
information regarding any claims made or outstanding against any of the policies over the past three years. The insurance policies listed on Part 2.17(a)
of the
Disclosure Schedule include all policies of insurance that are required by material commercial contracts relating to the Company, in the amounts required under the
respective contracts. The insurance policies listed on Part 2.17(a)
of the Disclosure Schedule are in full force and effect, all premiums due and payable thereon have
been paid and no written notice of cancellation or termination has been received and is still in force with respect to any such policy. The insurance policies referred to
in this Section 2.17(a) will remain in full force and effect and will not in any way be affected by or terminate by reason of the Merger or any of the other transactions
contemplated by this Agreement.
(b) The Company has insurance against the types of risks and losses usually insured against by companies carrying on the same or a similar
business, and in amounts and with such coverage limits as are generally appropriate to such businesses. Without prejudice to the generality of the foregoing, the
insurance policies of the Company are all provided by well-
established and reputable insurers, are for the full replacement or reinstatement value of all of the
Company’
s assets of an insurable nature, and insure the Company against the risk of accident, damage, injury, third party loss (including product liability) and loss of
profits.
37