Common use of Minor Casualty or Condemnation Clause in Contracts

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete the Restoration shall be less than the Restoration Threshold, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all of the conditions set forth in Section 5.3.2(a) hereof are met and Borrower delivers a written undertaking to commence and complete the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirements. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided no Event of Default shall have occurred and remain uncured, and that the condition in Section 5.3.2(a)(xiv) below has been satisfied, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for the benefit of Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided (a) no Event of Default shall have occurred and remain uncured and (b) the Casualty or Condemnation shall have occurred prior to the Maturity Date, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided no Event of Default shall have occurred and be continuing, and that the condition in Section 2.7 hereof has been satisfied, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for the benefit of Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided the conditions set forth in Sections 5.3.2(a)(i) through (x) below have been met, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement (subject to delays due to Force Majeure). If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the any Individual Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided no Event of Default shall have occurred and the Outstanding Principal Balance is not otherwise required to be prepaid, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all and promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided no Event EAST\53909776.4 of Default shall have occurred and remain uncured, and that the condition in Section 5.3.2(a)(x) below has been satisfied, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for the benefit of Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided no Event of Default shall have occurred and be continuing, and that the condition in Section 2.6 hereof has been satisfied, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for the benefit of Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete the Restoration shall be less than the Restoration Threshold, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all no Event of the conditions set forth in Section 5.3.2(a) hereof are met Default shall have occurred and be continuing and Borrower delivers a written undertaking to commence and complete the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirements. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the any Individual Property and the Net Proceeds shall be less than the Restoration Threshold for such Individual Property and the costs and expenses to complete of completing the Restoration shall be less than the Restoration ThresholdThreshold for such Individual Property, and provided the conditions set forth in Section 5.3.2(a)(i) through (xi) below have been met, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and with respect to such Individual Property in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the RestorationRestoration of the applicable Individual Property, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration of the applicable Individual Property in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration shall be less than the Restoration Threshold, and provided no Event of Default shall have occurred and remain uncured, and that the condition in Section 5.3.2(a)(x) below has been satisfied, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, all Borrower. Promptly after receipt of the conditions set forth in Section 5.3.2(a) hereof are met and Net Proceeds, Borrower delivers a written undertaking to shall commence and satisfactorily complete with due diligence the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthe terms of this Agreement. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for the benefit of Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If a Casualty or Condemnation has occurred to the Property and the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete the Restoration shall be less than the Restoration Threshold, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; provided that, subject to Section 5.3.2(i) hereof, that all of the conditions set forth in Section 5.3.2(a) hereof are met and Borrower delivers a written undertaking to commence and complete the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirements. If any Net Proceeds are received by Borrower and may be retained by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses of Restoration in accordance with the terms hereof.

Minor Casualty or Condemnation. If Notwithstanding anything to the contrary contained herein, if a Casualty or Condemnation has occurred to any Property, then the Property and Net Proceeds will be disbursed by Lender to Borrower if the Net Proceeds shall be less than the Restoration Threshold and the costs and expenses to complete of completing the Restoration of the affected Property shall be less than the Restoration Threshold, the Net Proceeds will be disbursed by Lender to Borrower upon receipt; and provided that, subject to Section 5.3.2(i) hereof, all of the conditions set forth in Section 5.3.2(aSections 5.3.2(a)(i) hereof are met and Borrower delivers a written undertaking to commence and complete the Restoration in an expeditious and diligent fashion and in accordance with all applicable Legal Requirementsthrough (ix) below have been met. If any Net Proceeds are received by Borrower and may be retained held by Borrower pursuant to the terms hereof, such Net Proceeds shall, until completion of the Restoration, be held by Borrower in trust for Lender and shall be segregated from other funds of Borrower to be used to pay for the costs and expenses cost of Restoration in accordance with the terms hereof. To the extent that any of the provisions of this Section 5.3.1 conflict with the terms of any Leased Fee Lease, such provisions shall not apply with respect to any Casualty or Condemnation.