Insurance Trustee. Except as otherwise provided in this Lease, all insurance policy proceeds provided for in subsection 6.2.1 shall be paid and delivered to an Insurance Trustee designated by Landlord and shall be held and used for the following purposes with the Insurance Trustee having the powers and duties contained herein:
Insurance Trustee. The Bank of New York, in New York, New York, as insurance trustee for Ambac Assurance or any successor insurance trustee.
Insurance Trustee. The CCTA will continue to appoint one person as one of the two Corporation Trustees in the MASE Insurance Trust for ancillary insurance benefits unavailable through MASE Trust.
Insurance Trustee. If Landlord fails to comply with its obligation to rebuild the Premises pursuant to this Article ll and Tenant elects to exercise its self-help rights as set forth in Section 14.7 hereof, upon receipt of written instructions from Tenant, Landlord shall inform its insurance company that Tenant has undertaken the rebuilding of the Premises and all insurance proceeds shall thereafter be placed with an insurance trustee and disbursed upon terms and conditions similar to those contained in an industry standard construction loan agreement.
Insurance Trustee. Signature by the Trustee is in acknowledgement of acceptance of appointment. Insurance Trustee Name: ______________________________________________ Signature: ___________________________________________________________
Insurance Trustee. The following provisions shall apply from and after the time that there shall be (i) any insured damage in excess of $2,000,000.00 to the Premises, adjusted for inflation by any increase in the Index, or (ii) a Taking (other than either a Taking in response to which this Lease is terminated in accordance with Article 12 or a deemed temporary Taking in the event of a reduction of the Term as set forth in Section 3.2) of all or a portion thereof:
Insurance Trustee. The Insurance Trustee shall be a bank or trust company authorized to do business in the State of Florida which shall be reasonably satisfactory to the first mortgagee on the Hotel Parcel. The Insurance Trustee may retain free of trust, from the monies held by it, the Insurance Trustee’s reasonable fees and expenses for acting as Insurance Trustee. The Insurance Trustee shall have no obligation to pay interest on any monies held by it unless the Insurance Trustee shall have given an express written undertaking by Hotel Owner to do so. However, if the monies on deposit are not held in an interest bearing account pursuant to agreement among the Insurance Trustee and the Hotel Owner, then the Insurance Trustee, within thirty (30) days after request from any Owner given to the Insurance Trustee and to the other Owners, shall purchase with such monies, to the extent feasible, United States Government securities payable to bearer and of the most practicable maturities, not in excess of one year, except insofar as it would, in the good faith judgment of the Insurance Trustee, be impracticable to invest in such securities by reason of any disbursement of such monies which the Insurance Trustee expects to make shortly thereafter, and the Insurance Trustee shall hold such securities in trust hereunder. Any interest paid or received by the Insurance Trustee on monies or securities held in trust, and any gain on the redemption or sale of any securities, shall be added to the monies or securities so held in trust by the Insurance Trustee. Unless the Insurance Trustee shall have undertaken to pay interest thereon, monies received by the Insurance Trustee pursuant to any of the provisions of this Declaration shall not be mingled with the Insurance Trustee’s own funds and shall be held by the Insurance Trustee in trust for the use and purposes herein provided. The Insurance Trustee shall have the authority and duty to disburse funds held by it pursuant to this Declaration in the manner, to the persons, and at the times provided in this Declaration. The Insurance Trustee shall not be liable or accountable for any action taken or suffered by the Insurance Trustee, or for any disbursement of monies by the Insurance Trustee, in good faith in reliance on advice of legal counsel. The Insurance Trustee shall have no affirmative obligation to make a determination of the amount of, or to effect the collection of, any insurance proceeds or condemnation award, unless the Insurance Tr...
Insurance Trustee. Insurance Trustee means the Trustee appointed under the Insurance Trust Agreement.
Insurance Trustee. The Board of Directors of the Association shall have the option in its discretion of appointing an Insurance Trustee hereunder. If the Association fails or elects not to appoint such Trustee, the Association will perform directly all obligations imposed upon such Trustee by this Declaration. Fees and expenses of any Insurance Trustee are Common Expenses.
Insurance Trustee. Notwithstanding any of the foregoing provisions and requirements relating to property or liability insurance, there may be named as an insured, on behalf of the Association, the Association’s authorized representative, including any Trustee with whom the Association may enter into any insurance Trust Agreement or any successor to such Trustee (each of whom shall be referred to herein as the “Insurance Trustee”), who shall have exclusive authority to negotiate losses under any policy providing such property or liability insurance. Any insurance Trustee must be a corporation or association organized or authorized to do business under the laws of the State of Indiana, and authorized and permitted by its charter documents and by state law to conduct a trust business.
