Insurance Proceeds Account. (a) All repairs to any Property with respect to which any Insurance Proceeds have been deposited to the Insurance Proceeds Account shall be deemed to be renovations and all of the provisions of Section 2.22(a), including the requirements for inspections by the Valuation Agent, shall apply to such Properties.
Insurance Proceeds Account. (a) All cash, cash equivalents, instruments, investments and securities at any time on deposit in the Insurance Proceeds Account, including all interest or other income earned with respect thereto, are herein called the "CASUALTY PROCEEDS DEPOSITS".
Insurance Proceeds Account. The Company, its Subsidiaries and the Administrative Agent shall deposit into the Insurance Proceeds Account all Casualty Proceeds.
Insurance Proceeds Account. The Borrower, its Subsidiaries and the Collateral Trustee shall deposit into the Insurance Proceeds Account all Casualty Proceeds.
Insurance Proceeds Account. (a) Unless an Event of Default has occurred and is continuing, all Insurance Proceeds from time to time received by the Borrower, the Security Agent or either Account Bank during the Facility Period shall (after providing for any Losses ranking by law in priority to the Secured Obligations) be applied as follows:
Insurance Proceeds Account. The Lessor shall (if there is no Potential Termination Event or Mandatory Prepayment Event on or before the relevant withdrawal date) apply the amounts standing to the credit of the Insurance Proceeds Account (and for this purpose the Lessor hereby instructs and authorises the Lessee Account Bank to apply such amounts accordingly), in accordance with Clause 21.9 (Insurance Proceeds).
Insurance Proceeds Account. 23.4.1 The Borrower will open a transactional account with the On Shore Security Agent ("INSURANCE PROCEEDS ACCOUNT") prior to the first Utilisation Date, such account to be pledged by the Borrower in favour of the Senior Creditors by entering into the Claims Assignment and Bills of Exchange Agreement.
Insurance Proceeds Account. The Borrower and the Administrative Agent -------------------------- shall deposit all Casualty Proceeds in the Insurance Proceeds Account.
Insurance Proceeds Account. Whilst Clepco is and remains a named insured under the Company's and the Trustee's insurance policies as referred to in clause 14.3 above, compliance by the Company with its obligations under the Concession Deed with respect to the Insurance Proceeds Account referred to in clause 11.3 of the Concession Deed will satisfy Clepco's obligation to establish and maintain a particular account under
Insurance Proceeds Account. (a) Not later than the date of Delivery (for this purpose clause 8.2(h)(ii) shall not apply), Clepco shall establish an account to be known as the Insurance Proceeds Account and thereafter maintain such account in its name and, whilst the Project Debt is outstanding, in the name of the Security Trustee with a financial institution nominated by Clepco and approved by the State (such approval not to be unreasonably withheld) or with a financial institution which is a party to the Master Security Deed.
