Common use of Accidents and Claims Clause in Contracts

Accidents and Claims. Manager shall promptly investigate and shall report in detail to Owner all accidents, claims for damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.6(b). Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.

Appears in 6 contracts

Samples: Property Management Agreement (Wells Real Estate Investment Trust Inc), And Asset Management Agreement (Wells Real Estate Fund Xiv Lp), And Asset Management Agreement (Wells Real Estate Investment Trust Iii Inc)

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Accidents and Claims. Manager shall promptly investigate and shall report in detail to Owner all accidents, claims for damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.6(bsection 2.5(b). Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.

Appears in 5 contracts

Samples: Management Agreement (American Realty Capital Trust, Inc.), Management Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Management Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Accidents and Claims. Manager shall promptly investigate and shall report in detail to Owner all accidents, claims for damage relating to the ownershipOwnership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 ten (10) days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report operating statement delivered to Owner pursuant to Section 2.6(b2.5(b). Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.

Appears in 4 contracts

Samples: Management and Leasing Agreement (Behringer Harvard Mid Term Value Enhancement Fund I Lp), Management and Leasing Agreement (Behringer Harvard Short Term Opportunity Fund I Lp), Management and Leasing Agreement (Behringer Harvard Short Term Opportunity Fund I Lp)

Accidents and Claims. Manager shall promptly investigate and shall report in detail to Owner all accidents, claims for damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such These reports shall be given to Owner promptly promptly, and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report operating statement delivered to Owner pursuant to Section 2.6(b)2.5(b) hereof. Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such the claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.

Appears in 4 contracts

Samples: Management and Leasing Agreement (Behringer Harvard REIT II, Inc.), Management and Leasing Agreement (Behringer Harvard REIT II, Inc.), Management and Leasing Agreement (Behringer Harvard REIT II, Inc.)

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Accidents and Claims. Manager shall promptly investigate and shall report in detail to Owner all accidents, claims for damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.6(b2.5(b). Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.

Appears in 4 contracts

Samples: Management Agreement (Lightstone Value Plus Real Estate Investment Trust Ii Inc), Management Agreement (Lightstone Value Plus Real Estate Investment Trust Ii Inc), Management Agreement (Lightstone Value Plus Real Estate Investment Trust Ii Inc)

Accidents and Claims. Manager shall promptly investigate and shall report in detail to Owner all accidents, claims for damage relating to the ownershipOwnership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.6(b2.5(b). Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.

Appears in 1 contract

Samples: Management and Leasing Agreement (Behringer Harvard Real Estate Investment Trust I Inc)

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