Common use of Adjustment of Claims Clause in Contracts

Adjustment of Claims. (a) Subject to clause (c) below, in the event of a Casualty or Condemnation where the claim for damage to, or loss or destruction of, all or a portion of the Property does not exceed $2,000,000.00, Affiliated Guarantor may settle and adjust such claim; provided that such adjustment is carried out in a competent and timely manner. In such case, Affiliated Guarantor and Operating Lessee are authorized to collect and receive for Beneficiary any insurance proceeds.

Adjustment of Claims. (a) Subject to clause (c) below, in the event of a Casualty or Condemnation where the claim for damage to, or loss or destruction of, all or a portion of the Property does not exceed $2,000,000.00, Affiliated Guarantor Borrower may settle and adjust such claim; provided that such adjustment is carried out in a competent and timely manner. In such case, Affiliated Guarantor Borrower and Operating Lessee are authorized to collect and receive for Beneficiary Lender any insurance proceeds.

Adjustment of Claims. (a) Subject to clause (c) below, in the event of a Casualty or Condemnation where the claim for damage to, or loss or destruction of, all or a portion of the Property does not exceed $2,000,000.00, Affiliated Guarantor may settle and adjust such claim; provided that such adjustment is carried out in a competent and timely manner. In such case, Affiliated Guarantor and Operating Lessee are authorized to collect and receive for Beneficiary Lender any insurance proceeds.

Adjustment of Claims. (a) Subject to clause (c) below, in the event of a Casualty or Condemnation where the claim for damage to, or loss or destruction of, all or a portion of the Property does not exceed $2,000,000.00, Affiliated Guarantor Trustor may settle and adjust such claim; provided that such adjustment is carried out in a competent and timely manner. In such case, Affiliated Guarantor Trustor and Operating Lessee are authorized to collect and receive for Beneficiary any insurance proceeds.

Adjustment of Claims. (a) Subject to clause (c) below, in the event of a Casualty or Condemnation where the claim for damage to, or loss or destruction of, all or a portion of the Property does not exceed $2,000,000.005,000,000.00, Affiliated Guarantor Trustor may settle and adjust such claim; provided that such adjustment is carried out in a competent and timely manner. In such case, Affiliated Guarantor Trustor and Operating Lessee are authorized to collect and receive for Beneficiary any insurance proceeds.