Common use of Loss Proceeds Clause in Contracts

Loss Proceeds. (a) The Agency and the Lessee shall cooperate and consult with each other in all matters pertaining to the settlement, compromise, arbitration or adjustment of any claim or demand on account of any Loss Event, and the settlement, compromise, arbitration or adjustment of any such claim or demand shall, as between the Agency and the Lessee, be subject to the written approval of the Lessee.

Loss Proceeds. (a) The Agency and the Lessee shall cooperate and consult with each other in all matters pertaining to the settlement, compromise, arbitration or adjustment of any claim or demand on account of any Loss Event, and the settlement, compromise, arbitration or adjustment of any such claim or demand shall, as between the Agency and the Lessee, be subject to the written approval of the Lessee, and the Lessee shall be entitled to all of the Net Proceeds (the Agency hereby waiving any right to receive the same).

Loss Proceeds. (a) The Agency and the Lessee shall cooperate and consult with each other in all matters pertaining to the settlement, compromise, arbitration or adjustment of any claim or demand on account of any Loss Event, and the settlement, compromise, arbitration or adjustment of any such claim or demand shall, as between the Agency and the Lessee, (y) be subject to the written approval of the Lessee, and (z) the Lessee shall be entitled to all of the Net Proceeds (the Agency hereby waiving any right to receive the same).