Common use of Adjustment of Claims Clause in Contracts

Adjustment of Claims. Borrower hereby authorizes and empowers Lender to use commercially reasonably efforts and to cooperate with Borrower to settle, adjust or compromise any claims for damage to, or loss or destruction of, all or a portion of the Property, regardless of whether there are Insurance Proceeds available or whether any such Insurance Proceeds are sufficient in amount to fully compensate for such damage, loss or destruction. Nevertheless, no final settlement, adjustment or compromise of any such claim shall be made by the Borrower without the Lender's written consent, which shall not be unreasonably withheld or delayed. Should an Event of Default have occurred and be continuing, the Lender shall be empowered to settle, adjust or compromise any such claim.

Adjustment of Claims. Borrower hereby authorizes and empowers Lender to use commercially reasonably efforts and to cooperate with Borrower to settle, adjust or compromise any claims for damage to, or loss or destruction of, all or a portion of the Property, regardless of whether there are Insurance Proceeds available or whether any such Insurance Proceeds are sufficient in amount to fully compensate for such damage, loss or destruction. Nevertheless, no final settlement, adjustment or compromise of any such claim shall be made by the Borrower without the Lender's ’s written consent, which shall not be unreasonably withheld or delayed. Should an Event of Default have occurred and be continuing, the Lender shall be empowered to settle, adjust or compromise any such claim.