Examples of Insurance Trustee in a sentence
The Parties to this Lenders Direct Agreement agree to the distribution of insurance proceeds in respect of GC 11.1.1.2.2 of the Construction Contract in accordance with Section 2.11 of the Project Agreement and to enter into an Insurance Trustee Agreement, or agree to such alternative arrangements, all as contemplated in Section 2.11 of the Project Agreement.
Tenant shall furnish the Insurance Trustee at the time of any such payment with evidence reasonably satisfactory to the Insurance Trustee that there are no unpaid past due bills in respect to any work, labor, services or materials performed, furnished or supplied in connection with such Restoration.
To the extent Landlord in its sole and absolute discretion elects to contribute to the restoration costs as provided in subsection B above, Landlord shall deposit with the Insurance Trustee its contribution toward the cost of restoration.
The Insurance Trustee shall retain the right not to act and shall not be liable for refusing to act if, due to a lack of information or for any other reason whatsoever, the Insurance Trustee, in its sole judgment, determines that such act might cause it to be in non-compliance with any applicable anti-money laundering or anti-terrorist legislation, regulation or guideline.
Any loss under any such casualty insurance policy required under Section 6.2 hereof shall be made payable to an “Insurance Trustee” for the benefit of Landlord and Tenant, to the end that the Insurance Trustee shall be entitled to collect all money due under such insurance policies payable in the event of and by reason of the loss of or damage to the Rangers Complex, to be applied pursuant to Section 6.5 below.