LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy.
Appears in 11 contracts
Sources: Membership Interest Purchase Agreement (MVP REIT II, Inc.), Purchase and Sale Agreement (Trans Energy Inc), Contract of Sale (QTS Realty Trust, Inc.)
LIABILITY NONCUMULATIVE. The Amount It is expressly understood that the amount of Insurance insurance under this policy shall be reduced by any amount the Company pays may pay under any policy insuring a Mortgage mortgage to which exception is taken in Schedule B or to which the Insured insured has agreed, assumed, or taken subject, or which is hereafter executed by an Insured after Date of Policy insured and which is a charge or lien on the Titleestate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the Insured under this policyinsured owner.
Appears in 5 contracts
Sources: Purchase and Sale Agreement (FSP 50 South Tenth Street Corp), Lease Modification Agreement (Printpack Inc), Assignment of Leases (Introgen Therapeutics Inc)
LIABILITY NONCUMULATIVE. The Amount It is expressly understood that the amount of Insurance insurance under this policy shall be reduced by any amount the Company pays may pay under any policy insuring a Mortgage mortgage to which exception is taken in Schedule B BV or to which the Insured insured has agreed, assumed, or taken subject, or which is hereafter executed by an Insured after Date of Policy insured and which is a charge or lien on the Titleestate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the Insured under this policyinsured owner.
Appears in 4 contracts
Sources: Operating Agreement (Casino Resource Corp), Lease Agreement (Casino Resource Corp), Operating Agreement (Casino Resource Corp)
LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, subject or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy.
Appears in 2 contracts
Sources: Owner Policy of Title Insurance, Contract of Sale (Franklin Street Properties Corp /Ma/)