Distribution of Insurance Proceeds. (a) All Casualty Proceeds paid to Landlord or the Fee Mortgagee on account of such damage or destruction under the policies of insurance provided for in Article 7, less the cost, if any, incurred in connection with the adjustment of the loss and the collection thereof, shall be paid by Landlord (if no Material Monetary Default then exists hereunder which is continuing), either to reimburse Tenant for expenditures made in connection with the Restoration or to pay contractors, subcontractors, materialmen, engineers, architects or other persons who have rendered services or furnished materials for such Restoration, and shall be paid out as hereinafter provided from time to time as such Restoration progresses, upon the written request of Tenant which shall be accompanied by the following:
Distribution of Insurance Proceeds. In the event insurance proceeds hereafter are realized on the Vessel or related facilities, then the proceeds thereof shall be distributed to the Preferred Mortgagee except that any and all insurance proceeds attributable to the Collateral shall be distributed to the Lender to the extent of the Obligations under the Loan Agreement.
Distribution of Insurance Proceeds. Notwithstanding anything contained within this Lease, the proceeds of any insurance received by the City and the Society as a result of the damage or destruction of the Development, or a portion thereof, shall be dealt with as follows:
Distribution of Insurance Proceeds. Promptly upon receipt of any insurance proceeds (“Doswell Insurance Proceeds”) received by Acquiror or the Surviving Corporation arising from or in connection with the claims made or to be made by the Company to Liberty Mutual Insurance Company or its Affiliates in connection with the destruction of the Company’s Doswell, Virginia facility, Acquiror shall, or shall cause the Surviving Corporation, to pay to the Paying Agent the amount of any such Doswell Insurance Proceeds. Promptly following receipt by the Paying Agent of any Doswell Insurance Proceeds, the Paying Agent shall pay to each Pre-Closing Shareholder an amount equal to (x) the amount of such Doswell Insurance Proceeds, multiplied by (y) such Pre-Closing Shareholder’s Pro-Rata Share.
Distribution of Insurance Proceeds. The Insurance Proceeds will be used and distributed only as follows:
Distribution of Insurance Proceeds. In the event of a Casualty and subsequent termination of this Lease pursuant to Section 11.1 hereof, the insurance proceeds received as the result of such Casualty shall be assigned or paid over to Landlord and/or Tenant in accordance with the provisions of Section 10.4 herein.
Distribution of Insurance Proceeds. If the Parties reasonably determine that the estimated cost or cost and time to repair or replace ON Line (or any portion thereof) following an Event of Loss will not exceed any applicable Loss Threshold, or if the Parties reasonably determine that the estimated cost or cost and time to repair or replace ON Line (or the applicable portion thereof) following an Event of Loss will exceed an applicable Loss Threshold but the Parties agree to repair or replace ON Line (or the applicable portion thereof), then any Insurance Proceeds received by a Party in respect of such Event of Loss with respect to ON Line, to the extent there are any, shall be used to repair or replace ON Line (or the applicable portion thereof); provided that in the event the Insurance Proceeds exceed the actual repair and replacement costs (the “Excess Insurance Proceeds”), such Excess Insurance Proceeds shall be distributed to the NVE Parties. If (a) the Parties initiate the Wind-Up Events under Section 13.02 or (b) one Party purchases the Ownership Interests of any other Party under Section 13.05(a), any Insurance Proceeds shall be distributed to each Party in proportion to the aggregate percentage of Total Costs paid by such Party as of the time such Insurance Proceeds are received (prior to giving effect to any Transfer contemplated by Section 13.05(a)) to the extent (if applicable) any such Insurance Proceeds are not needed to pay any costs incurred in connection with the retirement of ON Line. If any Insurance Proceeds related to ON Line are received by a Party after termination of this Agreement, then any such Insurance Proceeds shall be promptly paid to the other Parties to the extent contemplated by this Section 13.03; provided, however, that (a) if this Agreement is terminated following consummation of a transaction whereby the NVE Parties have purchased Great Basin’s Ownership Interests for a price determined in accordance with Section 16.02(d) or Schedule 5, Great Basin shall promptly pay any Insurance Proceeds it receives following such termination to the NVE Parties, and (b) if this Agreement is terminated following consummation of any other transaction involving the purchase by Great Basin of all of the NVE Parties’ Ownership Interests or the purchase by one or both of the NVE Parties of all of Great Basin’s Ownership Interests, and the Insurance Proceeds in question are reflected in the purchase price, then the selling Party or Parties shall promptly pay any such Insurance ...
Distribution of Insurance Proceeds. If this Lease is terminated pursuant to this Article 10, the insurance proceeds received as the result of such Casualty shall be distributed as follows: (a) if any Leasehold Mortgages are in place, first to the Leasehold Mortgagee to the extent of any indebtedness then owed to such Leasehold Mortgagees; and (b) then to Tenant or Condominium Association.
Distribution of Insurance Proceeds. Unless otherwise agreed to by the parties, the proceeds of any insurance to be maintained by the CRCA under this License which are received by the County and/or the CRCA as a result of the damage or destruction of the Facility, or a portion thereof, shall be applied to the costs of repairing, replacing, or reconstructing the Facility.
Distribution of Insurance Proceeds. In the event insurance proceeds are realized in any asset of the Borrower in which both the Senior Lender and the Junior Lender have a lien, the proceeds thereof shall be distributed in accordance with the priorities set forth in Section 4 above. In the event of such realization of insurance proceeds during any period prior to payment in full of the Senior Lender, the Junior Lender hereby designates the Senior Lender as its attorney in fact to endorse any draft, check or other item on which the Junior Lender’s name appears. In the event that the Senior Lender or the Junior Lender receives any insurance proceeds on any assets of the Borrower, the Senior Lender or the Junior Lender, as the case may be, to hold such proceeds in trust and to distribute such proceeds as provided herein.