Common use of Insurance and Condemnation Proceeds Clause in Contracts

Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of $50,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Borrowers shall ----------------------------------- promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of $50,00025,000 per occurrence, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of $50,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets an aggregate amount in excess of $250,000 100,000 in any year, whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Borrowers shall promptly ----------------------------------- notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of $50,000200,000 per occurrence, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of $50,000500,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Each Borrower shall promptly notify the Agent and the Lenders of (a) any material loss, damage, or destruction to the Collateral in excess of $50,000Collateral, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other property insurance and condemnation proceeds in respect of Collateral in an amount in excess of $500,000 for any incident ("Excess Proceeds") directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Each Borrower shall promptly notify the Agent and the Lenders of (a) any material loss, damage, or destruction to the Collateral in excess of $50,000Collateral, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other property insurance and condemnation proceeds in respect of Collateral in an amount in excess of $500,000 for any incident (“Excess Proceeds”) directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of an amount greater than $50,000100,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Borrowers (through the Funds Administrator) shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of $50,0001,000,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower Representative shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of $50,000500,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of Collateral, exceeding $50,000250,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply them, after deducting from such proceeds the reasonable expenses, if any, incurred by the Agent in the collection or remit them as follows:handling thereof, ratably, to the reduction of the Obligations in the order provided for in Section 3. 3.

Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral in excess of with a value exceeding $50,000500,000, whether or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets in excess of $250,000 whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows:

Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of (a) any loss, damage, or destruction to the Collateral with a value for any one incident or related incidents in excess of $50,000, whether 100,000 or not covered by insurance and (b) any loss, damage, or destruction to any Fixed Assets a value for all incidents after the Closing Date in excess of $250,000 1,000,000, whether or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows: