Common use of Accidents and Claims Clause in Contracts

Accidents and Claims. Manager shall promptly investigate and shall -------------------- report in detail to Owner all accidents, claims for damage relating to the ownership, operation or maintenance of the Partnership Properties, and any damage or destruction to the Partnership Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.5(b). Manager is authorized to settle any claim against an insurance company not exceeding $500 arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds. If a claim against an insurance company exceeds $500, Manager shall take no action specified in the immediately preceding sentence with respect thereto without the approval of Owner.

Accidents and Claims. Manager shall promptly investigate and shall -------------------- report in detail to Owner all accidents, claims for damage relating to the ownershipOwnership, operation or maintenance of the Partnership PropertiesOwner, and any damage or destruction to the Partnership Properties Owner and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section section 2.5(b). Manager is authorized to settle any claim against an insurance company not exceeding $500 arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds. If a claim against an insurance company exceeds $500, Manager shall take no action specified in the immediately preceding sentence with respect thereto without the approval of Owner.