All insurance policies required to be obtained by any Loan Party as of the Closing Date pursuant to Section 7.01(d) have been obtained and are in full force and effect and all premiums then due and payable thereon have been paid in full. No Loan Party has received any notice from any insurer that any insurance policy has ceased to be in full force and effect or claiming that the insurer’s liability under any such insurance policy can be reduced or avoided.