Proceeds of Insurance. The entire proceeds of any property insurance or third-party payments for damages or an Event of Loss with respect to any Unit (including any Association of American Railroads interline settlements) received by Lessor or Indenture Trustee shall be promptly paid over to, and retained by, Lessee; provided, however, any such amount which is payable to Lessee shall not be paid to Lessee, or if it has been previously paid directly to Lessee, shall not be retained by Lessee, if at the time of such payment a Specified Default or an Event of Default shall have occurred and be continuing, but shall be paid to and held by Lessor as security for the obligations of Lessee under this Lease.
Proceeds of Insurance. (a) For so long as any Loan on the Scarlett Units is outstanding, all fire and standard risk or extended coverage (casualty) insurance proceeds shall be applied to the payment of the costs of repairing or rebuilding that part of the Scarlett Units damaged or destroyed if to the extent required, each Lender with an outstanding Loan permits such repair or rebuilding. If the Scarlett Units are not repaired or rebuilt, all such proceeds shall be applied in a manner consistent with the terms of the Loans.
Proceeds of Insurance. All insurance coverages relating to the Collateral and required under this Agreement shall be taken out in the name of Debtor, as the case may be, and shall, by their terms, name Lender as an additional insured (in the case of liability insurance) and as the sole loss payee (in the case of property insurance). The proceeds of any insurance relating to the physical damage to the Collateral must be used (i) to repair or replace the Collateral if the Collateral is not a total actual or constructive loss or (ii) if the Collateral is a total actual or constructive loss, in Lender’s discretion, (x) to rebuild or replace the Collateral with the proceeds of such insurance or (y) prepay Debtor’s Obligations hereunder in an amount equal to the amount of such insurance proceeds. To the extent Debtor is permitted by this Section or by Lender, as the case may be, to use the insurance proceeds to repair or replace the Collateral, Lender shall have the right to take possession of such proceeds and distribute to Debtor such proceeds in amounts required to facilitate the repair and replacement of the Collateral, in Lender’s sole discretion, provided Lender is satisfied with the use of all prior distributions.
Proceeds of Insurance. So long as the Leasehold Deed of Trust is in effect, the parties hereto acknowledge that the proceeds of any property damage policy shall be disbursed to the Leasehold Deed of Trust Beneficiaries to be applied as provided in the Leasehold Deed of Trust. In the event the Leasehold Deed of Trust is no longer in effect and unless the Developer is permitted to terminate this Ground Lease pursuant to Section 10.3, the proceeds of any property damage policy shall be disbursed to the Developer, to be used for the repair and restoration of the Premises as required by Section 10.1 hereof.
Proceeds of Insurance. All proceeds of any insurance required hereunder shall be applied in accordance with the terms of the Security Documents.
Proceeds of Insurance. Omnicell and Buyer agree that any proceeds of insurance on the Equipment shall be paid (a) first to Buyer, in an amount up to the Net Book Value of the affected Equipment determined as of the date of the casualty to such Equipment, and (b) second to Omnicell, in the amount of any surplus over the applicable Net Book Value.