The Administrative Agent shall have received satisfactory evidence that the global insurance required to be maintained by Section 5.02 and the Security Documents is in full force and effect and that the persons identified in Section 5.02 are noted (in a manner reasonably satisfactory to the Administrative Agent) on all global liability insurance policies of the Loan Parties and the Collateral Agent, for the benefit of the Secured Parties, is named as loss payee on such global property policies to the extent required by Section 5.02.