Insurance Proceeds Account. (a) All repairs to any Property with respect to which any Insurance Proceeds have been deposited to the Insurance Proceeds Account shall be deemed to be renovations and all of the provisions of Section 2.22(a), including the requirements for inspections by the Valuation Agent, shall apply to such Properties.
Insurance Proceeds Account. (a) All cash, cash equivalents, instruments, investments and securities at any time on deposit in the Insurance Proceeds Account, including all interest or other income earned with respect thereto, are herein called the "CASUALTY PROCEEDS DEPOSITS".
Insurance Proceeds Account. The Company, its Subsidiaries and the Administrative Agent shall deposit into the Insurance Proceeds Account all Casualty Proceeds.
Insurance Proceeds Account. (a) Unless an Event of Default has occurred and is continuing, all Insurance Proceeds from time to time received by the Borrower, the Security Agent or either Account Bank during the Facility Period shall (after providing for any Losses ranking by law in priority to the Secured Obligations) be applied as follows:
Insurance Proceeds Account. 23.4.1 The Borrower will open a transactional account with the On Shore Security Agent ("INSURANCE PROCEEDS ACCOUNT") prior to the first Utilisation Date, such account to be pledged by the Borrower in favour of the Senior Creditors by entering into the Claims Assignment and Bills of Exchange Agreement.
Insurance Proceeds Account. The Lessor shall (if there is no Potential Termination Event or Mandatory Prepayment Event on or before the relevant withdrawal date) apply the amounts standing to the credit of the Insurance Proceeds Account (and for this purpose the Lessor hereby instructs and authorises the Lessee Account Bank to apply such amounts accordingly), in accordance with Clause 21.9 (Insurance Proceeds).
Insurance Proceeds Account. The Borrower, its Subsidiaries and the Collateral Trustee shall deposit into the Insurance Proceeds Account all Casualty Proceeds.
Insurance Proceeds Account. The Borrower and the Administrative Agent -------------------------- shall deposit all Casualty Proceeds in the Insurance Proceeds Account.
Insurance Proceeds Account. Amounts on deposit in, or credited to, the Insurance Proceeds Account from time to time shall be applied in accordance with Section 11.02.
Insurance Proceeds Account. (a) The Borrower shall deposit Insurance Proceeds in the Insurance Proceeds Account in accordance with Section 18.6(b)(ii) and (iii) and such Insurance Proceeds shall be applied in accordance with the provisions set out therein.
