Receipt of Insurance Proceeds. Subject to Section 6.3 of this Agreement, Manager shall receive and remit to Owner all monies payable under such policy or policies of insurance as described in Sections 9.1 and 9.2 hereof, whether effected by Manager, depots or Lessees.
Receipt of Insurance Proceeds. Promptly and in any event within five (5) days after the Borrower or any Subsidiary has knowledge thereof, notice of the receipt by the Borrower or any Subsidiary of, or the occurrence of any event which could reasonably be expected to give rise to a receipt by the Borrower, any Subsidiary, or the Agent of, Insurance Proceeds in excess of $50,000,000 in the aggregate under all property or business interruption insurance policies maintained by the Borrower or any of its Subsidiaries, and a statement of a Responsible Officer of the Borrower on behalf of the Borrower describing such event and any action which the Borrower or any Subsidiary has taken to date and, to the extent identified by such date, any future actions that the Borrower or any Subsidiary proposes to take with respect thereto; and
Receipt of Insurance Proceeds. In the event of loss to the Collateral covered herein by insurance, Borrower shall immediately notify Bank of such loss in writing, and Borrower hereby authorizes and directs each and every insurance company concerned to make payments for such loss directly and solely to Bank. Bank is hereby authorized (but not required) to make proof of loss and to adjust claims in its reasonable discretion, and to collect and receipt for all proceeds, and Borrower shall sign, upon demand by Bank, all receipts, vouchers and releases required by the insurance companies. All references herein to insurance proceeds shall be deemed to include any interest earned on such proceeds.
Receipt of Insurance Proceeds. Subject to Section 5.4, Manager shall receive and remit to Owner all monies payable under such policy or policies of insurance as described in Sections 8.1 and 8.2, whether effected by Manager, depots or Lessees. Manager shall have no liability for any loss, damage, recovery cost or other cost or expense whatsoever with respect to a lost or destroyed Owner Container, whether or not covered by insurance.
Receipt of Insurance Proceeds. For the purpose of receiving any moneys which may become payable by virtue of any such policy of insurance effected in the joint names of the Town and the Debtor or otherwise, the Debtor appoints the Town to be the attorney and agent of the Debtor, with full and irrevocable power to:
Receipt of Insurance Proceeds. Within three Business Days after the receipt by the Borrower or any of its Affiliates of any proceeds (including insurance proceeds) from a Casualty Event, the Borrower shall make prepayments in accordance with Section 2.08(c) in an aggregate amount equal to the lesser of (A) 100% of such proceeds and (B) the amount of the then-outstanding Obligations.
Receipt of Insurance Proceeds. Borrower has not received any business interruption, income or other insurance proceeds relative to the performance of any Property or the operation of any business thereon for the calendar year 2020. If Borrower does receive any business interruption, income or other insurance proceeds relative to the performance of any Property or the operation of any business thereon as a result of the Public Health Event, within five (5) Business Days of receipt of the same, Borrower shall forward all such proceeds for deposit with Lender.
Receipt of Insurance Proceeds. On the receipt by the Borrower or any of its Affiliates of insurance proceeds in respect of a Casualty Event (except in the case of an Event of Total Loss) that the Borrower does not use to repair, replace or restore any property in respect of which the proceeds are paid (or to reimburse the Borrower or any of its Affiliates for any such repair, replacement or restoration), the Borrower shall prepay the Loan in an amount equal to such insurance proceeds, together with any applicable Prepayment Fee.
Receipt of Insurance Proceeds. On the receipt by the Borrower and/or the Debtor of insurance proceeds in respect of a Casualty Event, the Borrower shall make prepayments in an aggregate amount equal to the lesser of (A) 100% of such proceeds and (B) the amount of the then-outstanding Obligations.
Receipt of Insurance Proceeds. The proceeds received by the Lenders from an insurance policy contemplated in paragraphs 5.1(d) or (e) will reduce the principal, accrued interest and any other amount due under this Agreement or the Lenders' Security and the Lenders will pay any excess to the Borrower. The amount of the Loans so reduced upon receipt of such proceeds shall not be treated as a prepayment under subsection 3.5 whether or not the payment represents less than full payment of the Loans.
