Common use of Insurance and Condemnation Proceeds Clause in Contracts

Insurance and Condemnation Proceeds. The Borrower Parties shall promptly notify the Agent and the Lenders of any loss, damage, or destruction to the Collateral whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Parties Borrowers shall promptly notify the Agent and the Lenders of any material loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Parties Each Credit Party shall promptly notify the Administrative Agent and the Lenders of any material loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Administrative Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Parties Each Loan Party shall promptly upon becoming aware, notify the Agent and the Lenders of any material loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Parties shall promptly notify the Agent, the Co-Agent and the Lenders of any loss, damage, or destruction to the Collateral whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Parties shall promptly as soon as practicable notify the Agent and the Lenders of any loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to shall apply or remit them as follows:

Insurance and Condemnation Proceeds. The Such Borrower Parties shall promptly as soon as practicable notify the Agent and the Lenders of any loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to shall apply or remit them as follows:

Insurance and Condemnation Proceeds. The Each Borrower Parties shall ----------------------------------- promptly notify the Agent and the Lenders of any material loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to directly collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them such proceeds to the reduction of the Obligations as follows:

Insurance and Condemnation Proceeds. The Borrower Parties shall promptly notify the Agent and the Lenders of any loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Each Borrower Parties shall promptly notify the Agent and the Lenders of any loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to collect all insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Each Borrower Parties shall promptly notify the Agent and the Lenders of any material loss, damage, or destruction to the Collateral Collateral, whether or not covered by insurance. The Agent is hereby authorized to directly collect all insurance and condemnation proceeds in respect of Collateral directly and and, in any event, the Borrowers shall deliver all such proceeds to apply or remit them as follows:the Agent for application to the Obligations in the manner provided for in Section 3.8.