Restoration Funds. Upon any termination of this Lease, to the extent that Landlord or Depository then holds any Restoration Funds, they shall be applied solely as Landlord directs, including as a payment toward any sums then payable to Landlord.
Restoration Funds. Subject to the provisions and limitations in this Article XII, Depositary shall make available to Tenant (in respect of a Taking of the Demised Premises) and to the Condominium Association (in respect of a Taking of the Common Elements) as much of that portion of the condemnation award actually received and held by Depositary, if any, less all reasonable expenses paid or incurred by Depositary, Tenant, the Condominium Association and Landlord in connection with the condemnation proceedings, as may be necessary to pay the cost of Condemnation Restoration of the part of the Demised Premises and/or Common Elements remaining. Such Condemnation Restoration, the estimated cost thereof, the payments to Tenant or to the Condominium Association, as the case may be on account of the cost thereof, Landlord’s right to perform the same, Tenant’s obligation with respect to condemnation proceeds held by it, and any additional conditions imposed by the Recognized Mortgage most senior in lien, shall be done, determined, made and governed in accordance with and subject to the provisions of Articles IX and XI hereof as if such amounts were “Restoration Funds” thereunder. Payments to Tenant or the Condominium Association, as the case may be, as aforesaid shall be disbursed in the manner set forth in Sections 11.2(b) and 11.3 hereof. Any balance of the award held by Depositary and any cash and the proceeds of any security deposited with Depositary pursuant to Section 12.4 hereof remaining after completion of the Condemnation Restoration shall be paid to Tenant, or the Condominium Association, as the case may be, subject to the rights of Recognized Mortgagees. Each of the parties agrees to execute and deliver any and all documents that may be reasonably required in order to facilitate collection of the awards. If the portion of the award made available by Depositary, as aforesaid, is insufficient for the purpose of paying for the Condemnation Restoration, Tenant or the Condominium Association, as the case may be, shall nevertheless be required to make the Condemnation Restoration and pay any additional sums required for the Condemnation Restoration. Tenant’s or the Condominium Association’s, as the case may be, failure to supply the amount of any such deficiency within twenty (20) Business Days from demand of Landlord shall constitute a default hereunder (it being acknowledged and agreed that if such failure occurs after the tenth anniversary of the Delivery Date, Tenant will, ...
Restoration Funds. All Net Insurance Proceeds shall (subject to the provisions of Section 12.10.2 above) be paid to Tenant and shall be applied to a Casualty Restoration to the extent required to affect such Casualty Restoration.
Restoration Funds. All insurance proceeds received by or payable to Tenant with respect to any casualty or otherwise (excluding insurance proceeds from “contents” insurance policies carried by Tenant for personal property separate and apart from the policies required under this Lease), together with any interest earned on such insurance proceeds from time to time, shall be applied toward the cost of the Casualty Restoration, and any such funds remaining after the completion of a Casualty Restoration in accordance with the terms of this Lease shall be distributed as provided in Section 8.3(c) below. If the cost of the Casualty Restoration is (A) in excess of the Threshold Amount, then such funds shall be deposited with Depositary for disbursement as provided in this Article 8 and shall be deemed “Restoration Funds”; and (B) less than or equal to Threshold Amount, then such funds shall be paid to Tenant in trust for application as provided in this Article 8.
Restoration Funds. 35 SECTION 8.4 EFFECT OF CASUALTY ON THIS LEASE. ...............................................................................................37 SECTION 8.5 COLLECTION OF PROCEEDS. ................................................................................................................38 1 F:IMINSKER\C.M.BIPARKONE\POGROUNDLEASE.EXECI2.I.DOC m'.1893sn2424 ARTICLE 9 -
Restoration Funds. (a) Except as may be otherwise required by any Recognized Mortgage, all Net Insurance Proceeds shall, if in an amount equal to Five Hundred Thousand Dollars ($500,000), adjusted for inflation, or less per occurrence, be paid to Tenant and applied as provided herein. If greater than Five Hundred Thousand Dollars ($500,000), adjusted for inflation, then all Net Insurance Proceeds shall be deposited with the Recognized Mortgagee, or, if none, with another Institutional Lender pursuant to a mutually acceptable trust agreement. Provided Tenant is conducting the Casualty Restoration in accordance with this Lease, the Net Insurance Proceeds shall be paid out from time to time as the Casualty Restoration progresses, upon the written request of Tenant, which request shall be accompanied by the following: 35 F:\MlNSKERIC.M.
Restoration Funds. The "RESTORATION FUNDS" shall mean any Loss Proceeds (and deposits by Tenant) to be applied to Restoration.
Restoration Funds. Upon any termination of this Lease, to the extent that Landlord or Depository then holds any Restoration Funds, they shall be applied solely as directed by Landlord, including as a payment to Landlord on account of any damages or other sums then payable to Landlord.
Restoration Funds. 17 Restore...........................17
Restoration Funds. If Landlord's original construction lender is unwilling, or at any time refuses, to act as Secured Lender for those purposes, Tenant and Landlord shall select an institutional lender or a title insurance or trust company with offices in Jacksonville, Florida, mutually agreeable to both parties to act as said Secured Lender for such purposes.
