Common use of Loss Payable Clause in Contracts

Loss Payable. Notwithstanding anything contained in the Policy, including without limitation Section 5 of the Policy, Insurer agrees that neither Assignor's nor Assignee's receipt of any partial payment on the Claim shall release Insurer of any of its obligations under the Policy to pay Assignee the "Replacement Cost Value" (as such term is defined in the Policy), with respect to the Claim and the Insured Event.

Loss Payable. Notwithstanding anything contained in the Policy, including without limitation Section 5 of the Policy, Insurer agrees that neither Assignor's ’s nor Assignee's ’s receipt of any partial payment on the Claim shall release Insurer of any of its obligations under the Policy to pay Assignee the "“Replacement Cost Value" ” (as such term is defined in the Policy), with respect to the Claim and the Insured Event.