Insurance Proceeds definition

Insurance Proceeds. With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

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Insurance Proceeds. Proceeds paid by an insurer pursuant to any Insurance Policy, in each case other than any amount included in such Insurance Proceeds in respect of Insured Expenses.

Insurance Proceeds. Proceeds of any title policy, hazard policy or other insurance policy covering a Mortgage Loan, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the procedures that the Servicer would follow in servicing mortgage loans held for its own account, subject to the terms and conditions of the related Mortgage Note and Mortgage.

Examples of Insurance Proceeds in a sentence

Except with respect to Insurance Proceeds that are subject to retention by Borrower pursuant to Section 7(a), to the extent Borrower or any Affiliate shall receive any Rent or other Collections, Borrower shall, and Borrower shall cause such Affiliates to, promptly (but in any event within three (3) Business Days after receipt) deposit all such Collections into the Cash Management Account.
Except as provided in Section 7(d), if Borrower or any party other than Administrative Agent or Lenders receives any Insurance Proceeds, Borrower shall promptly deliver such proceeds to the Reserve Account and shall endorse, and cause all such third parties to endorse, a check payable therefor to the order of Administrative Agent for the benefit of Lenders, for deposit into the Reserve Account.
Any Insurance Proceeds in connection with any Casualty (whether or not Administrative Agent elects to settle and adjust the claim or Borrower settles such claim) shall be due and payable solely to Administrative Agent for deposit into the Reserve Account and held and disbursed in accordance with the terms of this Agreement.

More Definitions of Insurance Proceeds

Insurance Proceeds means those monies:

Insurance Proceeds means those monies (i) received by an insured from an insurance carrier or (ii) paid by an insurance carrier on behalf of an insured, in either case net of any applicable premium adjustment, retrospectively-rated premium, deductible, retention, or cost of reserve paid or held by or for the benefit of such insured.

Insurance Proceeds. With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property, including the proceeds of any hazard or flood insurance policy, LPMI Policy or PMI Policy.

Insurance Proceeds. Amounts paid by the insurer under any Insurance Policy, other than amounts (i) to cover expenses incurred by or on behalf of any Servicer or Master Servicer in connection with procuring such proceeds, (ii) to be applied to restoration or repair of the related Mortgaged Property or (iii) required to be paid over to the Mortgagor pursuant to law or the related Mortgage Note.

Insurance Proceeds shall have the meaning set forth in Section 6.4(b) hereof.

Insurance Proceeds. Proceeds paid in respect of the Mortgage Loans pursuant to any Primary Insurance Policy or any other related insurance policy covering a Mortgage Loan (excluding any Certificate Policy (as defined in the Series Supplement)), to the extent such proceeds are payable to the mortgagee under the Mortgage, any Subservicer, the Master Servicer or the Trustee and are not applied to the restoration of the related Mortgaged Property (or, with respect to a Cooperative Loan, the related Cooperative Apartment) or released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing mortgage loans held for its own account.

Insurance Proceeds. Proceeds paid by any insurer pursuant to any Insurance Policy covering a Mortgage Loan.