Casualty Insurance Proceeds. With respect to each Primary Mortgage Loan, during the time that Seller has serviced such Primary Mortgage Loan, Seller has applied all casualty insurance proceeds for property damage in accordance with Applicable Requirements.
Casualty Insurance Proceeds. The Borrower shall be required to use all Casualty Insurance Proceeds to prepay Loans and, promptly upon the deposit of any Casualty Insurance Proceeds into the Loss Proceeds Account, the Administrative Agent shall direct the Depositary Agent to (i) transfer such Casualty Insurance Proceeds to the Administrative Agent for application to the prepayment of Loans in accordance with Section 2.1.8 of the Credit Agreement, or (ii) if requested by the Borrower pursuant to the second sentence of Section 2.1.8 of the Credit Agreement, transfer such Casualty Insurance Proceeds to the Prepayment Account."
Casualty Insurance Proceeds. If any part of the Mortgaged Property shall be lost, damaged or destroyed by fire or any other cause, the proceeds of any hazard insurance required hereunder shall be paid to Mortgagee. If Mortgagee delivers insurance proceeds for such loss to Mortgagor, then Mortgagor shall promptly restore the Mortgaged Property to the equivalent of its original condition as determined by Mortgagee, in accordance with the plans, drawings and specifications acceptable to Mortgagee. Mortgagee shall advance all hazard insurance proceeds for the restoration of the Mortgaged Property, so long as: (a) no Event of Default exists and is continuing hereunder; (b) such proceeds, together with any contribution provided by Mortgagor, are sufficient to restore the Mortgaged Property to its condition prior to the casualty to the satisfaction of Mortgagee; (c) at least five (5) years remain in the term of the Loan; (d) any Subsidy Contracts in effect with respect to the Mortgaged Property before the casualty shall remain in force and effect; (e) Mortgagee shall determine that, upon such restoration, the Mortgaged Property can be operating in a financially feasible manner; (f) rental interruption insurance benefits (or other revenues made available by or through Mortgagor) are available to cover the projected construction period loss in Property Income; and (g) the cost of restoration does not exceed twenty percent (20%) of the replacement value of the Development. Mortgagee shall advance any such insurance proceeds through Mortgagee’s usual and customary procedures for loan advances. Otherwise, hazard insurance proceeds shall, at the option of Mortgagee, be applied to or toward the Indebtedness secured hereby in such order as Mortgagee may determine. Notwithstanding the foregoing, if the insurer denies liability to Mortgagor, Mortgagor shall not be relieved of any obligations under Section 2 of this Mortgage. In the event of loss, Mortgagor will give immediate written notice to Mortgagee and Mortgagee is hereby authorized to make proof of loss if not made promptly by Mortgagor and, following an Event of Default, to adjust or compromise any loss under any insurance policies on the Mortgaged Property. Each insurance company is hereby authorized and directed to make payment for all losses directly to Mortgagee alone and not to Mortgagor and Mortgagee jointly. Mortgagee may deduct from such insurance proceeds any expenses incurred by Mortgagee in the collection or handling of such funds. P...
Casualty Insurance Proceeds. No casualty insurance proceeds for property damage have been used by Seller to reduce Mortgage Loan balances or for any other purpose, other than the making of repairs to the Mortgaged Property and other than with the consent of the applicable Insurer providing mortgage insurance, to the extent that such consent was required under the Applicable Requirements. Additionally, there are no uninsured casualty losses or casualty losses where coinsurance has been (and the Seller has no reason to believe, will be) claimed by an Insurer or where the loss, exclusive of contents, is greater than the recovery, less actual expenses incurred in such recovery from the Insurer.
Casualty Insurance Proceeds. In the event that any of the USCC Assets have been damaged prior to the Closing Date by a casualty covered by insurance ("Damaged Assets"), USCC shall (prior to and following Closing) use Commercially Reasonable Efforts to collect amounts due (if any) in respect of such Damaged Assets under applicable insurance policies, which amounts, (i) if collected prior to Closing, will be used to repair or replace the Damaged Assets and (ii) if collected following Closing, will be remitted to AWS.
Casualty Insurance Proceeds. If all or any part of the Real Property Collateral is damaged or destroyed (the “Damaged Property”), then all proceeds of insurance ("Insurance Proceeds") shall be ☒payable and paid to Lender, and shall be either applied in accordance with Section 2.4(f)(ii) or made available to Borrowers to be used to restore the Damaged ☒Property, as provided below.☒
Casualty Insurance Proceeds. In the event that any of the assets of ---------------------------- the Company Business are damaged prior to the Closing Date by a casualty covered by insurance for an amount exceeding two hundred thousand dollars (US$200,000) ("Damaged Assets"), the Company and any other member of the Iusacell Group shall -------------- have used Commercially Reasonable Efforts to collect amounts due (if any) in respect of such Damaged Assets under the Company's or another Iusacell Group member's insurance policies, which amounts if collected shall either have been used to repair or replace the Damaged Assets or otherwise shall have been retained by the Company or another Iusacell Group member.
Casualty Insurance Proceeds. (a) In the event that any of the USCC Transferred Assets have been damaged or destroyed prior to the Closing Date by a casualty covered by insurance (“Damaged Assets”), USCC shall, and shall cause its Affiliates and Representatives to, (prior to and following Closing) use Commercially Reasonable Efforts to collect amounts due (if any) in respect of such Damaged Assets under applicable insurance policies, which amounts, (i) if collected prior to Closing, will be used to repair or replace the Damaged Assets and (ii) if collected following Closing, will be remitted to ALLTEL promptly, but in any event no later than 30 days after receipt by USCC or its Affiliates or Representatives.
Casualty Insurance Proceeds. (i) Promptly upon deposit into the Loss Proceeds Account of any Casualty Insurance Proceeds in an aggregate amount of less than $15,000,000, the Collateral Agent shall direct the Depositary Agent to transfer all or such portion of such Casualty Insurance Proceeds to the affected Project Company required to restore, rebuild or replace the affected Project or part thereof as so certified by a Responsible Officer of the Issuer, in such Responsible Officer's capacity as an officer of the Issuer, to the Collateral Agent (with a copy to the Depositary Agent). Any such Casualty Insurance Proceeds not so disbursed after the completion of the restoration, rebuilding or replacement shall be transferred to the Revenue Account.
Casualty Insurance Proceeds. Subject to Section 8. l(a) of the Lease, moneys received by the Indenture Trustee under any policy of casualty insurance and from self-insurance with respect to matters otherwise covered by casualty insurance shall be paid to the respective parties suffering the injury, loss, damage or liability with respect to which such payment is made.
