Cost To Repair definition
Examples of Cost To Repair in a sentence
If the Cost To Repair does not exceed thirty-five percent (35%) of the Appraised Value of the subject Mortgaged Property, provided no Event of Default is then in existence, Administrative Agent shall release so much of the insurance proceeds as may be required to pay for the actual Cost to Repair in accordance with and subject to the provisions of Section 5.06(e) below.
If the Cost To Repair does not exceed twenty percent (20%) of the Pool Value of the subject Mortgaged Property, provided no Event of Default is then in existence, Administrative Agent shall release so much of the insurance proceeds as may be required to pay for the actual Cost to Repair in accordance with and subject to the provisions of Section 5.06(e) below.
If the Cost To Repair does not exceed $100,000.00 and no Event of Default has occurred, Agent shall exercise its option to release so much of the insurance proceeds as may be required for Borrower to pay for the actual Cost to Repair in a commercially reasonable manner.
All proceeds of insurance shall be paid to Agent and, at Agent's option, be applied to Borrower's Obligations or released, in whole or in part, to pay for the actual cost of repair, restoration, rebuilding or replacement (collectively, "Cost To Repair'").
All proceeds of insurance shall be paid to Lender and, at Lender's option, be applied to the Obligations or released, in whole or in part, to pay for the actual cost of repair, restoration, rebuilding or replacement (collectively, "Cost To Repair").
If there is any condemnation for public use of the Property or of any Collateral, the awards on account thereof shall be paid to Agent and shall be applied to Borrower’s obligations, or released to Borrower to pay for the Cost To Repair, in the same manner and subject to the same thresholds and limitations set forth in Sections 14.3 and 14.4 hereof and such taking or condemnation shall not be deemed a violation of Section 9.7.
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If the Cost To Repair does not exceed thirty-five percent (35%) of the Pool Value of the subject Mortgaged Property, provided no Event of Default is then in existence, Administrative Agent shall release so much of the insurance proceeds as may be required to pay for the actual Cost to Repair in accordance with and subject to the provisions of Section 5.06(e) below.
Consultant as defined in Section 5.1. Cost To Repair as defined in Section 14.3. Debt Service Coverage as defined in Section 9.19.1(iii).
All proceeds of insurance shall be paid to Lender and, be (a) if such insurance proceeds are less than the actual cost of the Repair Work and the Borrower is unwilling to provide security or funds reasonably acceptable to Lender to such shortfall, applied to Borrower's Obligations or (b) released, in whole or in part, to pay for the actual cost of repair, restoration, rebuilding or replacement (collectively, "Cost To Repair").