Xxxxxx’s Provision Sample Clauses

Xxxxxx’s Provision. Xxxxxx agrees to use good faith reasonable efforts to have all Lenders agree in relevant loan documents to have damages and compensation proceeds applied to restoration of the Premises. Xxxxxx also agrees that if, nevertheless, a Lender will not so agree but reserves the power to apply all or portions of such proceeds against its loan, then in the event of a loss Lessee shall use diligent, good faith reasonable efforts (including legal action), in consultation with the Port, to cause all damages and compensation proceeds to be applied to restoration, but not so as to jeopardize Xxxxxx’s interest in the leasehold estate in the good faith judgment of Xxxxxx’s attorney. Notwithstanding any other provision of this Section, in the event that Lender elects not to use its share of damages and compensation for reconstruction, the Port shall not be obligated to use any portion of damages or compensation paid to it for land to restore the improvements.
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