Destruction; Insurance Proceeds Sample Clauses

Destruction; Insurance Proceeds. If there shall occur any damage to, or loss or destruction of, the Improvements, Real Estate Fixtures and Equipment, or any part of any thereof (each, a "Destruction"), Mortgagor shall promptly send to Mortgagee a notice setting forth the nature and extent of such Destruction; provided, however, that Mortgagor shall not be required to deliver the notice contemplated in this sentence in the event that any Destruction would give rise to insurance proceeds in an amount less than or equal to $500,000. The proceeds of any insurance payable in respect of any such Destruction shall constitute Trust Moneys and are hereby assigned and shall be paid to Mortgagee. All such proceeds, less the amount of any expenses incurred in litigating, arbitrating, compromising or settling any claim arising out of such Destruction (the "Net Proceeds"), shall constitute Trust Moneys and be applied in accordance with the provisions of this Mortgage and/or the Indenture. Mortgagee is hereby authorized and directed to pay from Trust Moneys any and all such expenses deemed reasonably necessary by Mortgagee in connection with the foregoing.
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Destruction; Insurance Proceeds. If there shall occur any damage to, or loss or destruction of, the Improvements, Equipment, or any part of any thereof (each, a "Destruction"), Grantor shall promptly send to Beneficiary a notice setting forth the nature and extent of such Destruction. The proceeds of any insurance payable in respect of such Destruction are hereby assigned and shall be paid to Beneficiary, provided that Grantor shall be entitled to retain the proceeds of any insurance payable in respect of a Destruction to the extent that the aggregate amount of any such insurance proceeds received by Grantor in such fiscal year when added to the aggregate of any award or payment in respect of any Taking (as hereinafter defined) received by Grantor in such fiscal year does not exceed $500,000. All such proceeds, together with any interest earned thereon, less the amount of any expenses incurred in litigating, arbitrating, compromising or settling any claim arising out of such Destruction (the "Net Proceeds"), shall be applied in accordance with the provisions of subsections 1.13.3, 1.13.4 and 1.13.5.
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Destruction; Insurance Proceeds. If there shall occur any damage to, or loss or destruction of, the Improvements and Equipment or any part of either thereof (each, a "Destruction"), Mortgagor shall promptly send to Mortgagee a notice setting forth the nature and extent of such Destruction if such Destruction is in respect of Improvements and Equipment having a value in excess of $2,000,000. The proceeds of any insurance payable in respect of such Destruction are hereby assigned and shall be paid to Mortgagee. All such proceeds, less the amount of any expenses incurred in litigating, arbitrating, compromising or settling any claim arising out of such Destruction ("Net Proceeds"), shall be applied in accordance with the provisions of subsections 1.11.3, 1.11.4 and 1.11.5.
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Destruction; Insurance Proceeds. If there shall occur any damage to, or loss or destruction of, any of the Improvements, or any part of any thereof (each, a "Destruction"), Grantor shall promptly send to the Beneficiary a notice setting forth the nature and extent of such Destruction. The proceeds of any insurance payable in respect of such Destruction shall be paid to the Beneficiary and applied in accordance with Section 4.3, provided that the Beneficiary may release such funds to Grantor for restoration of the Improvements in the Beneficiary's sole reasonable discretion.
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Destruction; Insurance Proceeds. If there shall occur any damage to, or loss or destruction of, the Improvements and Equipment, or any part of any thereof (each, a "Destruction"), Mortgagor shall promptly send to Mortgagee a notice setting forth the nature and extent of such Destruction. The proceeds of any insurance payable in respect of any such Destruction are hereby assigned and shall be paid to Mortgagee to be held in the Collateral Account; provided, however, that so
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Destruction; Insurance Proceeds. If there shall occur any material damage to, or material loss or material destruction of, the Improvements, Equipment, or any part of any thereof (each, a “Destruction”), Grantor shall promptly send to Beneficiary a notice setting forth the nature and extent of such Destruction. The proceeds of any insurance payable in respect of such Destruction are hereby assigned and shall be paid to Beneficiary. All such proceeds, together with any interest earned thereon, less the amount of any expenses incurred in litigating, arbitrating, compromising or settling any claim arising out of such Destruction (the “Net Proceeds”), shall be applied in accordance with the provisions of subsections 1.13.3, 1.13.4 and 1.13.5.
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Destruction; Insurance Proceeds. If there shall occur any damage to, or loss or destruction of, the Improvements, Equipment, or any part of any thereof (each, a “Destruction”), Mortgagor shall promptly send to Mortgagee a notice setting forth the nature and extent of such Destruction. The proceeds of any insurance payable in respect of such Destruction are hereby assigned and shall be paid to Mortgagee and deposited in the First-Priority Collateral Account. All such proceeds, together with any interest earned thereon, less the amount of any expenses incurred in litigating, arbitrating, compromising or settling any claim arising out of such Destruction (the “Net Insurance Proceeds”), shall be applied in accordance with the provisions of subsection (c).
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Destruction; Insurance Proceeds. If there shall occur any damage to, or loss or destruction of, the Improvements and Equipment, or any part of any thereof (each, a "Destruction"), Trustor shall promptly send to Beneficiary a notice setting forth the nature and extent of such Destruction. The proceeds of any insurance payable in respect of any such
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Related to Destruction; Insurance Proceeds

  • Construction Insurance In addition to the requirements of Article 10 of this Lease, in the event that Tenant makes any Alterations, prior to the commencement of such Alterations, Tenant shall provide Landlord with evidence that Tenant carries “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction of such Alterations, and such other insurance as Landlord may reasonably require, it being understood and agreed that all of such Alterations shall be insured by Tenant pursuant to Article 10 of this Lease immediately upon completion thereof. In addition, Landlord may, in its discretion, require Tenant to obtain a lien and completion bond or some alternate form of security satisfactory to Landlord in an amount sufficient to ensure the lien-free completion of such Alterations and naming Landlord as a co-obligee.

  • Business Interruption Insurance Upon receipt by Company or any of its Subsidiaries of any business interruption insurance proceeds constituting Net Insurance/Condemnation Proceeds, (a) so long as no Event of Default or Potential Event of Default shall have occurred and be continuing, Company or such Subsidiary may retain and apply such Net Insurance/Condemnation Proceeds for working capital purposes, and (b) if an Event of Default or Potential Event of Default shall have occurred and be continuing, Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (but without any reduction in the Revolving Loan Commitment Amount) as provided in subsections 2.4A and 2.4C.

  • Income Protection Insurance The Employer shall provide Income Protection Insurance through an ETU nominated policy and scheme. It is agreed that the premium will be collected and administered by the “Protect” Severance Scheme at the same time as severance payments are made. Income protection will be paid for the employees and will be paid for all periods of authorised absence and cannot be on a pro-rata basis. It is agreed the Income Protection Insurance payments are paid on a monthly basis by the 14th day of each month. It is agreed that if the Employer has not made a valid or current insurance payment to “Protect”, the Employer shall be liable for any loss of earnings or benefits that would have otherwise been given to the employee. The rates of payment and cover shall be as follows: From 1/1/06 to 28/2/07* From 1/3/07 to 31/12/08* From 1/1/09* Tradesperson’s Premium $19.70 per week $20.90 per week $24.00 per week** For Cover $1,100 $1,100 $1,200** Apprentice Premium $12.50 per week $13.50 per week $19.90 per week** For Cover $660 $660 $750** * These rates are inclusive of GST and stamp duty. ** These are the premium rates and levels of cover that shall apply, unless reduced by the agreement of NECA and the ETU. It is the intention of NECA and the ETU to seek a lower premium. The premium rates and level of cover shall not exceed the amounts set out in the final column of the table above. The insurance benefits contained in this Policy will not be reduced during the life of this Agreement.

  • Risk of Loss; Insurance A. Landlord and Tenant shall each be responsible for loss, damage, or injury caused by its own negligence or willful conduct.

  • Vision Insurance The County will provide and pay all the premiums necessary for WCIF VSP vision insurance.

  • Insurance and Condemnation Proceeds (a) Subject to Landlord's rights under this Paragraph 4, and so long as no Event of Default shall have occurred and be continuing, Tenant shall be entitled to use all casualty insurance and condemnation proceeds payable with respect to the Leased Property during the Term for the restoration and repair of the Leased Property or any remaining portion thereof. Except as provided in the last sentence of subparagraph 9.(r) and the last sentence of subparagraph 9.(s), all insurance and condemnation proceeds received with respect to the Leased Property (including proceeds payable under any insurance policy covering the Leased Property which is maintained by Tenant) shall be paid to Landlord and applied as follows: (i) First, such proceeds shall be used to reimburse Landlord for any costs and expenses, including Attorneys' Fees, incurred in connection with the collection of such proceeds. (ii) Second, the remainder of such proceeds (the "Remaining Proceeds"), shall be held by Landlord as Escrowed Proceeds and applied to reimburse Tenant for the actual cost of the repair, restoration or replacement of the Leased Property. However, any Remaining Proceeds not needed for such purpose shall be applied by Landlord as Qualified Payments after Tenant notifies Landlord that they are not needed for repairs, restoration or replacement. Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuing, then Landlord shall be entitled to receive and collect insurance or condemnation proceeds payable with respect to the Leased Property, and either, at the discretion of Landlord, (A) hold such proceeds as Escrowed Proceeds until paid to Tenant as reimbursement for the actual and reasonable cost of repairing, restoring or replacing the Leased Property when Tenant has completed such repair, restoration or replacement, or (B) apply such proceeds (net of the deductions described in clause (i) above) as Qualified Payments.

  • Builder’s Risk Insurance Contractor shall provide a Builder’s Risk Policy to be made payable to the Owner and Contractor, as their interests may appear. The policy amount should be equal to 100% of the Contract Sum, written on a Builder’s Risk “All Risk”, or its equivalent. The policy shall be endorsed as follows: The following may occur without diminishing, changing, altering or otherwise affecting the coverage and protection afforded the insured under this policy:

  • Hospitalization Insurance The Employer shall provide: HOSPITALIZATION INSURANCE Effective as soon as is practical after September 1, 2011 or date of ratification, whichever is sooner. Community Blue PPO 4$2/25/50 Prescription Drug Rider Dental Plan 2 $ Mandatory Mail-Order for Maintenance Drugs $ On Mail-Order- Pay for 2 month supply, get 3 month supply $ Mandatory Generic Drugs$ $10 Office and Chiropractic Visit Employees Contribute $10 per Pay Period for spousal coverage. Effective the first pay period after 9/1/2011 or as soon as is practicable employees hired before 9/1/11 shall pay 5% of the illustrated rate for the health and dental coverage they select. Effective 1/1/2012 employees hired before 9/1/11 shall pay 10% of the illustrated rate for the health and dental coverage they select. Effective the first pay period after 9/1/2011 or as soon as is practicable, for employees hired on or after 9/1/11, employees shall contribute 20% of the illustrated rate for the coverage the employee selects.

  • Use of Insurance Proceeds The Contractor shall immediately use any payment received from insurance coverages to remediate civil or environmental damages, and to repair or replace any damaged or destroyed Materials. If an insurance company withholds payment on a claim, the Contractor shall assume the Costs of repair or replacement.

  • Casualty Insurance The Lessor ☐ The Lessee ☐ The Parties (jointly) shall be responsible for obtaining and maintaining casualty insurance for the Premises for losses against fire.

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