Proceeds of Business Interruption Insurance Sample Clauses

Proceeds of Business Interruption Insurance. The net proceeds of the Business Interruption Insurance maintained in accordance with Section 14.1 (after the application of any deductible) shall be deposited in the Operating Account and used by Manager in the same manner as funds generated from the Operation of the Managed Facility are used by Manager in accordance with this Agreement, including the payment of Operating Expenses, the Centralized Services Charges and Managed Facility Personnel Costs and all other Operating Expenses as provided in Section 14.1.
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Proceeds of Business Interruption Insurance. The proceeds of any business interruption insurance shall be allocated between Westboy and Manager, it being the intention of the parties that Manager share in such proceeds to the extent that they specifically represent fees or reimbursements otherwise payable by Westboy to Manager under this Agreement.
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Proceeds of Business Interruption Insurance. 8.2.1 If the business of the Resort is interrupted by any event or peril covered by Business Interruption Insurance, the proceeds of any such insurance shall be allocated between Owner and Westin as their interests may appear, and Westin shall share in any proceeds (regardless of whether this Agreement has been terminated based on the event or peril in question) to the extent that the proceeds represent the Management Fee, the Marketing Fee, the Central Reservation Fee or Reimbursable Expenses payable by Owner to Westin under this
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Proceeds of Business Interruption Insurance. Notwithstanding anything to the contrary in this Agreement of any Intermediation Facility Documents, with respect to any and all proceeds of business interruption insurance constituting Intermediation Facility Priority Collateral, the Intermediation Facility Secured Parties shall be required to mxxxxxxx, take, liquidate and exhaust all remedies and recoveries available to such Intermediation Facility Secured Parties with respect to (x) all other categories of Intermediation Facility Priority Collateral and (y) all insurance owned and held in the name of the Intermediation Facility Representative and/or the Intermediation Facility Secured Parties with respect to the Intermediation Facility Priority Collateral prior to receiving any recovery with respect to such proceeds of business interruption insurance with respect to Intermediation Facility Priority Collateral maintained by the Company as required by Section 17.1(b) of the Intermediation Agreement and such policy shall be the secondary policy with respect to Intermediation Facility Priority Collateral.
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Proceeds of Business Interruption Insurance 
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Related to Proceeds of Business Interruption Insurance

  • Business Interruption Insurance Upon receipt by Company or any of its Subsidiaries of any business interruption insurance proceeds constituting Net Insurance/Condemnation Proceeds, (a) so long as no Event of Default shall have occurred and be continuing, Company or such Subsidiary may retain and apply such Net Insurance/Condemnation Proceeds for working capital purposes, and (b) if an Event of Default shall have occurred and be continuing, Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitment Amount shall be reduced) as provided in subsection 2.4B;

  • Business Insurance The Transaction Entities and their respective subsidiaries carry or are entitled to the benefits of insurance, with financially sound and reputable insurers, in such amounts and covering such risks as is generally maintained by companies of established repute engaged in the same or similar business, and all such insurance is in full force and effect. Neither of the Transaction Entities has any reason to believe that it or any of their respective subsidiaries will not be able to (A) renew, if desired, its existing insurance coverage as and when such policies expire or (B) obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not reasonably be expected to, singly or in the aggregate, result in a Material Adverse Effect.

  • Construction Insurance In addition to the requirements of Article 10 of this Lease, in the event that Tenant makes any Alterations, prior to the commencement of such Alterations, Tenant shall provide Landlord with evidence that Tenant carries “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction of such Alterations, and such other insurance as Landlord may reasonably require, it being understood and agreed that all of such Alterations shall be insured by Tenant pursuant to Article 10 of this Lease immediately upon completion thereof. In addition, Landlord may, in its discretion, require Tenant to obtain a lien and completion bond or some alternate form of security satisfactory to Landlord in an amount sufficient to ensure the lien-free completion of such Alterations and naming Landlord as a co-obligee.

  • Workers’ Compensation Insurance Contractor shall obtain and maintain a policy of workers’ compensation insurance for all of Contractor’s employees in accordance with the provisions of Labor Code Sections 3700, et seq., and all other applicable laws and requirements. In case any class of employee is not protected under the workers’ compensation laws for any reason, Contractor shall provide adequate coverage as shall be necessary for the protection of such employees. Prior to commencement of the Work, Contractor shall sign and file with District a certification regarding insurance for workers’ compensation in accordance with Labor Code Section 1861.

  • Business Interruption Lessee shall obtain and maintain loss of income and extra expense insurance in amounts as will reimburse Lessee for direct or indirect loss of earnings attributable to all perils commonly insured against by prudent lessees in the business of Lessee or attributable to prevention of access to the Premises as a result of such perils.

  • Comprehensive General Liability Insurance The Lessee shall procure and maintain a valid Comprehensive General Liability Insurance indemnifying the Lessor with minimum coverage of $ for personal injury and $ for damage to property.

  • Comprehensive General Liability Contractor shall have and maintain comprehensive general liability insurance coverage during the entire term of the Contract, against claims arising out of bodily injury, death, damage to or destruction of the property of others, including loss of use thereof, and including underground, collapse and explosion (XCU) and products and completed operations in an amount not less than five hundred thousand dollars ($500,000.00) each occurrence and one million dollars ($1,000,000.00) in the general aggregate.

  • Properties, Business, Insurance The Company shall maintain and cause each of its subsidiaries to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient.

  • Product Liability Insurance insurance against claims for bodily injury, death or Property damage resulting from the use of products sold by the Company or any of its Subsidiaries in such amounts as are then customarily maintained by responsible persons engaged in businesses similar to that of the Company and its Subsidiaries.

  • General Business Insurance To maintain insurance as is usual for the business it is in.

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