The Company carries the insurance set forth on Schedule 10(x) to protect against various risks as outlined. Each insurance policy currently held by the Company is in full force and effect and the Company is not in material breach of or in default under any such policy, except where any such breach or default could not be reasonably be expected to have a material adverse effect. Neither the Sellers nor the Company have received any notice of or any reason to believe that there is or has been any actual, threatened, or contemplated termination or cancellation of any insurance policy. The Company has not failed to give any notice or to present any claim under any insurance policy in a due and timely fashion.