Insurance Trustee. Except as otherwise provided in this Lease, all insurance policy proceeds provided for in subsection 6.2.1 shall be paid and delivered to an Insurance Trustee designated by Landlord and shall be held and used for the following purposes with the Insurance Trustee having the powers and duties contained herein:
Insurance Trustee. The Bank of New York, in New York, New York, as insurance trustee for Ambac Assurance or any successor insurance trustee.
Insurance Trustee. If Landlord fails to comply with its obligation to rebuild the Premises pursuant to this Article ll and Tenant elects to exercise its self-help rights as set forth in Section 14.7 hereof, upon receipt of written instructions from Tenant, Landlord shall inform its insurance company that Tenant has undertaken the rebuilding of the Premises and all insurance proceeds shall thereafter be placed with an insurance trustee and disbursed upon terms and conditions similar to those contained in an industry standard construction loan agreement.
Insurance Trustee. Signature by the Trustee is in acknowledgement of acceptance of appointment. Insurance Trustee Name: _____________________________________________ Signature: __________________________________________________________
Insurance Trustee. The CCTA will continue to appoint one person as one of the two Corporation Trustees in the MASE Insurance Trust, and in the School Trust of Indiana for ancillary insurance benefits unavailable through MASE Trust.
Insurance Trustee. The Insurance Trustee shall be designated by the Board of Managers and shall be a depository institution or trust company having an office located in The City of New York with net assets or a capital surplus and undivided profits of $500,000,000 or more having a long term credit rating from Standard & Poor’s Rating Services of not less than “A”. In the event the Insurance Trustee resigns or is replaced by the Board of Managers, the Board of Managers shall appoint a new Insurance Trustee. The Board of Managers shall pay the fees and disbursements of any Insurance Trustee and such fees and disbursements shall constitute a Common Expense. The Insurance Trustee shall hold all CE Restoration Funds (i) in trust on behalf of all Unit Owners, (ii) in accordance with the terms of these By-laws and (iii) in accordance with Section 254(4) of the Real Property Law of the State of New York.
Insurance Trustee. The following provisions shall apply from and after the time that there shall be (i) any insured damage to the Premises in excess of $100,000,000.00 (subject to Section 18.19), or (ii) a Taking of all or a portion thereof:
Insurance Trustee. 1. The Board shall have the right, but shall not be required, to designate any bank, trust company, management agent, savings and loan entity, building and loan association, insurance company or any institutional lender, or the Council, as the “Insurance Trustee,” and all parties beneficially interested in such insurance coverage shall be bound thereby. The Insurance Trustee, at the time of the deposit of such policies and endorsements, shall acknowledge that the policies and any proceeds therefrom shall be held in accordance with the terms of this Master Deed.
Insurance Trustee. The following provisions shall apply from and after the time that there shall be (i) any insured damage in excess of $2,000,000.00 to the Premises, adjusted for inflation by any increase in the Index, or (ii) a Taking (other than either a Taking in response to which this Lease is terminated in accordance with Article 12 or a deemed temporary Taking in the event of a reduction of the Term as set forth in Section 3.2) of all or a portion thereof:
Insurance Trustee. The Insurance Trustee shall be a bank or trust company authorized to do business in the State of Florida which shall be reasonably satisfactory to the first mortgagee on the Hotel Parcel. The Insurance Trustee may retain free of trust, from the monies held by it, the Insurance Trustee’s reasonable fees and expenses for acting as Insurance Trustee. The Insurance Trustee shall have no obligation to pay interest on any monies held by it unless the Insurance Trustee shall have given an express written undertaking by Hotel Owner to do so. However, if the monies on deposit are not held in an interest bearing account pursuant to agreement among the Insurance Trustee and the Hotel Owner, then the Insurance Trustee, within thirty (30) days after request from any Owner given to the Insurance Trustee and to the other Owners, shall purchase with such monies, to the extent feasible, United States Government securities payable to bearer and of the most practicable maturities, not in excess of one year, except insofar as it would, in the good faith judgment of the Insurance Trustee, be impracticable to invest in such securities by reason of any disbursement of such monies which the Insurance Trustee expects to make shortly thereafter, and the Insurance Trustee shall hold such securities in trust hereunder. Any interest paid or received by the Insurance Trustee on monies or securities held in trust, and any gain on the redemption or sale of any securities, shall be added to the monies or securities so held in trust by the Insurance Trustee. Unless the Insurance Trustee shall have undertaken to pay interest thereon, monies received by the Insurance Trustee pursuant to any of the provisions of this Declaration shall not be mingled with the Insurance Trustee’s own funds and shall be held by the Insurance Trustee in trust for the use and purposes herein provided. The Insurance Trustee shall have the authority and duty to disburse funds held by it pursuant to this Declaration in the manner, to the persons, and at the times provided in this Declaration. The Insurance Trustee shall not be liable or accountable for any action taken or suffered by the Insurance Trustee, or for any disbursement of monies by the Insurance Trustee, in good faith in reliance on advice of legal counsel. The Insurance Trustee shall have no affirmative obligation to make a determination of the amount of, or to effect the collection of, any insurance proceeds or condemnation award, unless the Insurance Tr...
