Release of Insurance Premium Funds Sample Clauses

Release of Insurance Premium Funds. Lender shall, provided no Event of Default shall have occurred and be continuing, and the Debt Service Coverage Ratio shall not be less than 1.05:1, release the Insurance Premium Funds to Borrower for payment of Insurance Premiums prior to the date such Insurance Premiums are due or paid by Borrower, upon delivery to Lender of an Officer's Certificate, certifying as to the actual amount of the Insurance Premiums then due and owing (the "CERTIFIED INSURANCE AMOUNT") on the date thereof or within sixty (60) days from the date thereof. Lender shall advance to Borrower for same from the Insurance Funds, within five (5) business days from the date Lender receives such Officer's Certificate, an amount equal to the Certified Insurance Amount. In all other cases, provided no Event of Default shall have occurred and be continuing, Lender shall either (i) release the Insurance Premium Funds to Borrower for Insurance Premiums paid by Borrower or (ii) apply the Insurance Funds to the payment of Insurance Premiums. In making any payment relating to Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the insurer or its agent, without inquiry into the accuracy of such xxxx, statement or estimate. If the amount of the Insurance Premium Funds shall exceed the amounts due for Insurance Premiums, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Insurance Premium Funds. Any Insurance Premium Funds remaining after the Debt has been paid in full shall be returned to Borrower.
Sample 1Sample 2Sample 3See All (9)
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Release of Insurance Premium Funds. Subject to the provisions of Section 6.8.2 hereof, Lender shall apply the Insurance Premium Funds to payment of Insurance Premiums. In making any payment relating to Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the insurer or its agent, without inquiry into the accuracy of such xxxx, statement or estimate.
Sample 1Sample 2See All (4)
Release of Insurance Premium Funds. Provided no Event of Default shall exist and remain uncured, Lender shall apply the Insurance Premium Funds to payment of Insurance Premiums as the same become due and payable. In making any payment relating to Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the insurer or its agent, without inquiry into the accuracy of such xxxx, statement or estimate. If the amount of the Insurance Premium Funds shall exceed the amounts due for Insurance Premiums, Lender shall, in its sole discretion, return any excess to Borrowers or credit such excess against future payments to be made to the Insurance Premium Funds. Any Insurance Premium Funds remaining on deposit with Lender after the Obligations have been paid in full and all obligations of Lender to make Advances hereunder have been terminated shall be returned to Borrowers.
Sample 1
Release of Insurance Premium Funds. Lender shall timely apply the Insurance Premium Funds to payment of Insurance Premiums. In making any payment relating to Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the insurer or its agent, without inquiry into the accuracy of such xxxx, statement or estimate. If the amount of the Insurance Premium Funds shall exceed the amounts due for Insurance Premiums, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Insurance Premium Funds. Any Insurance Premium Funds (including all interest accrued thereon, if any) remaining after the Debt has been paid in full shall be promptly returned to Borrower. If (a) the Insurance Premium Funds are available to Lender to make a payment of Insurance Premiums when due and (b) Borrower incurs late fees due to Lender's failure to make such payment of Insurance Premiums when due, Lender shall reimburse Borrower for any such late fees incurred by Borrower.
Sample 1
Release of Insurance Premium Funds. Unless Borrower shall have delivered a Letter of Credit pursuant to Section 6.8.1 hereof, Lender shall apply the Insurance Premium Funds to payment of Insurance Premiums. In making any payment relating to Insurance Premiums, Lender shall do so according to any xxxx or statement furnished by the Borrower and certified by the Borrower to be a true, correct an complete copy of the xxxx or statement in respect of Insurance Premiums due and payable, or, if no such copy is furnished by the Borrower, procured from the insurer or its agent, without inquiry into the accuracy of such xxxx, statement or estimate. If the amounts of the Insurance Premium Funds shall exceed the amounts due for Insurance Premiums, Lender shall, at Borrower's option and after notice to Lender, return any excess to Borrower or credit such excess against future payments to be made to the Insurance Premiums. Any Insurance Premium Funds remaining after the Debt has been paid in full shall be returned to Borrower.
Sample 1
Release of Insurance Premium Funds. Lender shall have the right to apply the Insurance Premium Funds to payment of Insurance Premiums. To the extent anchor tenants at Individual Properties are self-insuring any risks to be covered under the Agreement or carry their own third-party insurance to cover such risks (and directly pay the costs thereof), and provided that Lender is satisfied that such insurance meets the requirements of this Agreement and that Lender is named as additional insured and loss payee on such self-insurance or third-party insurance, then Lender shall not require the application of the Insurance Premium Funds to pay any such anchor insurance policies. In making any payment relating to Insurance Premiums, Lender may do so according to any bill, xxatement or estimate procured from the insurer or its agent, without inquiry into the accuracy of such bill, xxatement or estimate. If the amount of the Insurance Premium Funds shall exceed the amounts due for Insurance Premiums, Lender shall return any excess to Borrower. Any Insurance Premium Funds remaining after the Debt has been paid in full shall be returned to Borrower. If at any time Lender reasonably determines that the Insurance Premium Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and Borrower shall increase its monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.
Sample 1

Related to Release of Insurance Premium Funds

  • Release of Insurance Funds Provided no Event of Default is continuing, Lender shall apply Insurance Funds in the Insurance Account to timely pay, or reimburse Borrower for payments of, Insurance Premiums. If the amount of the Insurance Funds shall exceed the amounts due for Insurance Premiums, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Insurance Funds. Any Insurance Funds remaining in the Insurance Account after the Obligations have been paid in full shall be returned to Borrower. Provided no Default or Event of Default exists, the Insurance Funds reserved for any Property will be released upon a permitted sale and release of such Property in accordance with the terms hereof.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.

  • Use of Insurance Proceeds The Contractor shall immediately use any payment received from insurance coverages to remediate civil or environmental damages, and to repair or replace any damaged or destroyed Materials. If an insurance company withholds payment on a claim, the Contractor shall assume the Costs of repair or replacement.

  • Purchase of Insurance No Mortgagor was required to purchase any credit life, disability, accident or health insurance product as a condition of obtaining the extension of credit. No Mortgagor obtained a prepaid single-premium credit life, disability, accident or health insurance policy in connection with the origination of the Mortgage Loan. No proceeds from any Mortgage Loan were used to purchase single premium credit insurance policies as part of the origination of, or as a condition to closing, such Mortgage Loan;

  • Deposits of Insurance Funds Borrower shall deposit with or on behalf of Lender on each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums prior to the expiration of the Policies, which amounts shall be transferred into an Account established at the Collection Account Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.

  • Reinsurance Premiums A. Computation Reinsurance Premiums under this Agreement shall be calculated as described in Exhibit I.

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Single-Premium Credit Life Insurance Policy In connection with the origination of any Mortgage Loan, no proceeds from any Mortgage Loan were used to finance a single-premium credit life insurance policy;

  • Increase in Insurance Premiums If an increase in any insurance premiums paid by Landlord for the Building is caused by Tenant's use of the Premises or if Tenant vacates the Premises and causes an increase in such premiums, then Tenant shall pay as additional rent the amount of such increase to Landlord.

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