to Borrower. Notwithstanding the provisions of subsection (a) of this Section to the contrary (but subject to the provisions of Section 3.04), if each of the following conditions is satisfied, Borrower shall apply insurance proceeds received by it to the restoration or replacement of the Collateral, to the extent necessary for the restoration or replacement thereof:
Appears in 2 contracts
Sources: Commercial Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Ensign Group, Inc), Commercial Deed of Trust (Ensign Group, Inc)