Common use of Payment of Proceeds Clause in Contracts

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that in the event of loss, injury or damage, all proceeds shall be paid to the Lender alone (rather than jointly to the Borrower and the Lender). The Lender is hereby authorized to adjust and compromise any such loss with the consent of the Borrower or, following any Event of Default, whether or not cured, without the consent of the Borrower, and to collect and receive such proceeds in the name of the Lender and the Borrower, and the Borrower appoints the Lender (or any agent designated by the Lender) as the Borrower's attorney-in-fact with full power of substitution, to endorse the Borrower's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereof, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender in collecting said insurance proceeds, then toward payment of the Loan Obligations or any portion thereof, then due and payable, in such order as the Lender determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that in the event of loss, injury or damage, subject to the rights of any Fee Mortgagee, all proceeds shall be paid to the Lender Lessor alone (rather than jointly to the Borrower Lessee and the LenderLessor). The Lender Lessor is hereby authorized to adjust and compromise any such loss with the consent of the Borrower Lessee or, following any Event of Lease Default, whether or not cured, without the consent of the BorrowerLessee, and to collect and receive such proceeds in the name of the Lender Lessor and the BorrowerLessee, and the Borrower Lessee appoints the Lender Lessor (or any agent designated by the LenderLessor) as the BorrowerLessee's attorney-in-fact with full power of substitution, to endorse the BorrowerLessee's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereofArticle 13, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender Lessor in collecting said insurance proceeds, then toward payment of the Loan Lease Obligations or any portion thereof, then which have not been paid when due and payablepayable or within any applicable cure period, in such order as the Lender Lessor determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Leased Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that that, in the event of loss, injury or damage, all proceeds shall be paid to the Lender Lessor alone (rather than jointly to the Borrower Lessee and the LenderLessor). The Lender Lessor is hereby authorized to adjust and compromise any such loss with the consent of the Borrower Lessee or, following any Event of Lease Default, whether or if not cured, without the consent of the BorrowerLessee, and to collect and receive such proceeds in the name of the Lender Lessor and the BorrowerLessee, and the Borrower Lessee appoints the Lender Lessor (or any agent designated by the LenderLessor) as the BorrowerLessee's attorney-in-fact with full power of substitution, to endorse the BorrowerLessee's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereofArticle 13, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender Lessor in collecting said insurance proceeds, then toward payment of the Loan Lease Obligations or any portion thereof, then due and payable, in such order as the Lender the. Lessor determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Leased Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that in the event of loss, injury or damage, subject to the rights of any Fee Mortgagee, all proceeds shall be paid to the Lender Lessor alone (rather than jointly to the Borrower Lessee and the LenderLessor). The Lender Lessor is hereby authorized to adjust and compromise any such loss with the consent of the Borrower Lessee or, following any Event of Lease Default, whether or not cured, without the consent of the BorrowerLessee, and to collect and receive such proceeds in the name of the Lender Lessor and the BorrowerLessee, and the Borrower Lessee appoints the Lender Lessor (or any agent designated by the LenderLessor) as the BorrowerLessee's attorney-in-in- fact with full power of substitution, to endorse the BorrowerLessee's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereofArticle 13, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender Lessor in collecting said insurance proceeds, then toward payment of the Loan Lease Obligations or any portion thereof, then which have not been paid when due and payablepayable or within any applicable cure period, in such order as the Lender Lessor determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Leased Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.12.1.7

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that in the event of loss, injury or damage, subject to the rights of any Fee Mortgagee, all proceeds shall be paid to the Lender Lessor alone (rather than jointly to the Borrower Lessee and the LenderLessor). The Lender Lessor is hereby authorized to adjust and compromise any such loss with the consent of the Borrower Lessee or, following any Event of Lease Default, whether or not cured, without the consent of the BorrowerLessee, and to collect and receive such proceeds in the name of the Lender Lessor and the BorrowerLessee, and the Borrower Lessee appoints the Lender Lessor (or any agent designated by the LenderLessor) as the BorrowerLessee's attorney-in-fact with full power of substitution, to endorse the BorrowerLessee's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereofArticle 13, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender Lessor in collecting said insurance proceeds, then toward payment of the Loan Lease Obligations or any portion thereof, then due and payable, in such order as the Lender Lessor determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Leased Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that in the event of loss, injury or damage, subject to the rights of any Fee Mortgagee, all proceeds shall be paid to the Lender Lessor alone (rather than jointly to the Borrower Lessee and the LenderLessor). The Lender Lessor is hereby authorized to adjust and compromise any such loss with the consent of the Borrower Lessee or, following any Event of Lease Default, whether or not cured, without the consent of the BorrowerLessee, and to collect and receive such proceeds in the name of the Lender Lessor and the BorrowerLessee, and the Borrower Lessee appoints the Lender Lessor (or any agent designated by the LenderLessor) as the BorrowerLessee's attorney-in-fact with full power of substitution, to endorse the BorrowerLessee's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereofArticle 13, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender Lessor in collecting said insurance proceeds, then toward payment of the Loan Lease Obligations or any portion thereof, then which have not been paid when due and payablepayable or within any applicable cure period, in such order as the Lender determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.70

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that in the event of loss, injury or damage, subject to the rights of any Fee Mortgagee, all proceeds shall be paid to the Lender Lessor alone (rather than jointly to the Borrower Lessee and the LenderLessor). The Lender Lessor is hereby authorized to adjust and compromise any such loss with the consent of the Borrower Lessee or, following any Event of Lease Default, whether or not cured, without the consent of the BorrowerLessee, and to collect and receive such proceeds in the name of the Lender Lessor and the BorrowerLessee, and the Borrower Lessee appoints the Lender Lessor (or any agent designated by the LenderLessor) as the BorrowerLessee's attorney-attorney- in-fact with full power of substitution, to endorse the BorrowerLessee's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereofArticle 13, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender Lessor in collecting said insurance proceeds, then toward payment of the Loan Lease Obligations or any portion thereof, then which have not been paid when due and payablepayable or within any applicable cure period, in such order as the Lender Lessor determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Leased Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.

Payment of Proceeds. All insurance policies required hereunder (except for general public liability, professional liability and workers' compensation and employers liability insurance) shall provide that in the event of loss, injury or damage, subject to the rights of any Fee Mortgagee, all proceeds shall be paid to the Lender Lessor alone (rather than jointly to the Borrower Lessee and the LenderLessor). The Lender Lessor is hereby authorized to adjust and compromise any such loss with the consent of the Borrower Lessee or, following any Event of Lease Default, whether or not cured, without the consent of the BorrowerLessee, and to collect and receive such proceeds in the name of the Lender Lessor and the BorrowerLessee, and the Borrower Lessee appoints the Lender Lessor (or any agent designated by the LenderLessor) as the BorrowerXxxxxx's attorney-in-fact with full power of substitution, to endorse the BorrowerLessee's name upon any check in payment thereof. Subject to the provisions of Section 8.3 hereofArticle 13, such insurance proceeds shall be applied first toward reimbursement of all costs and expenses reasonably incurred by the Lender Lessor in collecting said insurance proceeds, then toward payment of the Loan Lease Obligations or any portion thereof, then which have not been paid when due and payablepayable or within any applicable cure period, in such order as the Lender Lessor determines, and then in whole or in part toward restoration, repair or reconstruction of the Mortgaged Leased Property for which such insurance proceeds shall have been paid. In the event the Lender shall apply such proceeds towards the repayment of the Loan Obligations, provided that no Loan Default then exists, no Prepayment Fee shall be due in connection therewith.