Business Interruption Proceeds. Proceeds actually received from or under the business interruption insurance obtained and maintained by Manager pursuant to Section 10.1 above shall be deemed revenues and receipts of the Enterprise for the purposes of this Agreement.
Business Interruption Proceeds. (a) The parties to this Agreement hereby agree that the Note Agent (and any successor to the Note Agent in such capacity under the Indenture or if there is no Note Agent any successor appointed pursuant to the Indenture) shall act as the depositary for the purpose of receiving and distributing Business Interruption Proceeds on the terms and conditions set forth in this Section 3.11 and further agree that the Note Agent shall be authorized to exercise such powers as are expressly delegated to the Loan Agent by the provisions of this Section 3.11, together with such powers as are reasonably incidental thereto.
Business Interruption Proceeds. In the event that BPUSHA receives proceeds from business interruption insurance in connection with any of the Facilities and if such proceeds are based on a market price (the “Market Price”) per MWh less than or equal to the Fixed Price, (i) BEM LP shall pay BPUSHA the difference between the Fixed Price and the Market Price in respect of each lost MWh in respect of which such insurance proceeds were paid and (ii) BPUSHA shall pay 100% of the deductible associated with such business interruption proceeds. In the event that BPUSHA receives proceeds from business interruption insurance in connection with any of the Facilities and if such proceeds are based on a Market Price per MWh greater than the Fixed Price, (i) BPUSHA shall pay to BEM LP an amount equal to the difference between the Market Price and the Fixed Price in respect of each lost MWh in respect of which such insurance proceeds were paid and the Fixed Price and (ii) the parties shall share the cost of the deductible associated with such business interruption proceeds in the same proportion as the proceeds themselves.
Business Interruption Proceeds. (a) The parties to this Agreement hereby agree that the First Lien Bridge Agent (and any successor to the First Lien Bridge Agent in such capacity under the First Lien Interim Loan Agreement or if there is no First Lien Bridge Agent any successor appointed pursuant to the Bridge Intercreditor Agreement) shall act as the depositary for the purpose of receiving and distributing Business Interruption Proceeds on the terms and conditions set forth in this Section 3.11 and further agree that the First Lien Bridge Agent shall be authorized to exercise such powers as are expressly delegated to the Loan Agent by the provisions of this Section 3.11, together with such powers as are reasonably incidental thereto.
Business Interruption Proceeds. Notwithstanding the foregoing provisions of this Article 5 to the contrary: (a) Subject to Section 5.5(b), payments received on account of the business interruption insurance specified in Section 5.1(a)(iii) above shall be deposited directly into the Casualty and Condemnation Account. Notwithstanding the last sentence of Section 5.1(a)(iii) above, and provided that no Event of Default shall have occurred and be continuing, proceeds received by Lender on account of business or rental interruption or other loss of income insurance specified in Section 5.1(a)(iii) above shall be deposited by Lender into the Cash Management Account (in installments relating to the relevant period) to the extent such proceeds (or a portion thereof) reflect a replacement for lost Rents for the relevant period, as determined by Lender in good faith, and such proceeds shall be applied by Lender in accordance with Section 8.3 hereof. All other such proceeds not reflecting a replacement for lost Rents shall be held by Xxxxxx and disbursed in accordance with Section 5.4 hereof. (b) Notwithstanding the foregoing provisions of Section 5.5(a), if in connection with a Casualty any insurance carrier makes a payment under a property insurance Policy that Borrower proposes be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier as to the purpose of such payment, as between Lender and Borrower, such payment shall not be treated as business or rental interruption insurance proceeds unless Borrower has demonstrated to Lender’s reasonable satisfaction that the remaining Net Proceeds that will be received from the property insurance carriers are sufficient to pay one hundred percent (100%) of the cost of fully restoring the Improvements or, if such Net Proceeds are to be applied repay the Loan in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off the Loan in full.
