Insurance Casualty and Condemnation Sample Clauses

Insurance Casualty and Condemnation. 38 Section 6.1. Insurance Coverage...............................................38 Section 6.2. Condemnation.....................................................45
AutoNDA by SimpleDocs
Insurance Casualty and Condemnation. 5.1 Mortgagor shall keep the Mortgaged Property and each and every part of it constantly insured as may be required from time to time by Mortgagee.
Insurance Casualty and Condemnation. 5.1.1 Borrower shall obtain and maintain, or cause to be maintained, insurance for Borrower and each of the Individual Properties providing at least the following coverages:
Insurance Casualty and Condemnation. (a) The Issuer will, and will cause each of the Subsidiaries to, maintain, with financially sound and reputable insurance companies insurance in such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or similar businesses operating in the same or similar locations and all insurance required to be maintained pursuant to the Security Documents. The Issuer will furnish to the Trustee and the Collateral Agent, upon request in writing, information in reasonable detail as to the insurance so maintained.
Insurance Casualty and Condemnation. Section 7.1
Insurance Casualty and Condemnation. 58 7.1 Insurance. ..................................................... 58 7.1.1 Coverage .............................................. 58 7.1.2 Policies .............................................. 60 7.1.3 Modification of Insurance Requirements ................ 61 7.2 Casualty. ...................................................... 61 7.2.1 Notice; Restoration ................................... 61 7.2.2 Settlement of Proceeds ................................ 62 7.3 Condemnation. .................................................. 62 7.3.1
Insurance Casualty and Condemnation. Notwithstanding any contrary or inconsistent provisions contained in any Lease or in the Credit Agreement, with respect to each and every Property which is both (a) part of the Collateral Pool Assets under the Credit Facility and (b) demised to Tenant pursuant to a Lease, the following provisions will apply:
AutoNDA by SimpleDocs
Insurance Casualty and Condemnation. If, before the Closing, one or more Properties is damaged by fire or other casualty, and such damage together with all other casualties occurring prior to the Closing do not individually or in the aggregate result in a Total Material Adverse Effect, then the Closing shall proceed as scheduled and the applicable Seller shall, at the Closing, (i) pay to Buyer all insurance proceeds received by such Seller to date with respect to such damage, destruction or other loss, less any proceeds applied to the physical restoration of such Property; provided, that if such insurance proceeds are not sufficient to fully repair or restore such Property, such Seller shall pay Buyer an additional amount equal to such shortfall (the "Shortfall Amount") and (ii) assign to Buyer all rights of such Seller against third parties (other than against its insurance carriers) with respect to any causes of action, whether or not litigation has commenced as of the Closing Date, in connection with such damage, destruction or other loss; provided, however, that any recovery of money from any third Person pursuant to the rights conveyed under this subsection (ii) shall be paid, following the payment of Buyer's out of pocket fees and expenses, to the applicable Seller until such Seller has been repaid the Shortfall Amount. The obligations of each Seller pursuant to the prior sentence shall constitute full compensation for the damage to such Property, and after the Closing such Seller shall have no responsibility for restoration or repair of its Property or any resultant loss, directly, by subrogation, or otherwise. In the event that any casualty or casualties occurring prior to the Closing individually or in the aggregate, results in a Total Material Adverse Effect, then Buyer shall have fifteen (15) days to exercise its termination right under Section 10.1(h) hereof; provided, however, that, if requested by Buyer, the applicable Seller(s) and Buyer shall discuss and consult in good faith for a period of up to thirty (30) days after any such casualty to discuss whether such casualty (individually or together with any prior casualties) constitutes to a Total Material Adverse Effect, and after any such period expires, Buyer shall have fifteen (15) days to exercise its termination right pursuant to Section 10.1(h) hereof with respect to such casualty.
Insurance Casualty and Condemnation. 107 SECTION 6.1. Insurance ............................................................................................................. 107 SECTION 6.2. Casualty ............................................................................................................... 108 SECTION 6.3. Condemnation ..................................................................................................... 108 SECTION 6.4. Restoration .......................................................................................................... 109 ARTICLE VII
Insurance Casualty and Condemnation. (a) Mortgagor shall, at its sole expense, obtain for, deliver to, assign to and maintain for the benefit of Agent, until the Secured Obligations are paid in full, policies of hazard insurance in an amount which shall be not less than 100% of the full insurable replacement cost of the Encumbered Property (other than the Land) insuring, on a replacement cost basis, the Encumbered Property against loss or damage on a "special cause of loss" form, such insurable hazards, casualties and contingencies as are included therein and otherwise as Agent may require, including without limitation fire, windstorm, rainstorm, vandalism, earthquake and, if all or any part of the Encumbered Property shall at any time be located within an area identified by the government of the United States or any agency thereof as having special flood hazards and for which flood insurance is available, flood. Mortgagor shall pay promptly when due any premiums on such insurance policies and on any renewals thereof. Mortgagor shall, at its sole expense, obtain for, deliver to, assign to and maintain for the benefit of, Agent, until the Secured Obligations are paid in full, such other policies of insurance as may be required by the terms of the Loan Agreement. The form of such policies and the companies issuing them shall be acceptable to Agent. If any such policy shall contain a co-insurance clause it shall also contain an agreed amount or stipulated value endorsement. All such policies and renewals thereof shall be held by Agent and shall contain an "Agent's loss payable" clause making losses payable to Agent. Losses shall not be payable to any other party without Agent's prior written consent. In the event of loss, Mortgagor will give immediate written notice to Agent and Agent may make proof of loss if not made promptly by Mortgagor (for which purpose Mortgagor hereby irrevocably appoints Agent as its attorney-in-fact). In the event of the foreclosure of this Mortgage or any other transfer of title to the Encumbered Property in full or partial satisfaction of the Secured Obligations, all right, title and interest of Mortgagor in and to all insurance policies and renewals thereof then in force shall pass to the purchaser or grantee. All such policies shall provide that they shall not be modified, cancelled or terminated without at least thirty (30) days' prior written notice to Agent from the insurer.
Time is Money Join Law Insider Premium to draft better contracts faster.