Common use of ADJUSTMENT AND PAYMENT OF LOSSES Clause in Contracts

ADJUSTMENT AND PAYMENT OF LOSSES. The loss, if any, under any casualty insurance required to be carried by paragraph (a)(i) of this Section shall be adjusted with the insurance companies by the Lessee, or otherwise collected, including the filing of proceedings deemed advisable by the Lessee, subject to the approval of the Owner-Trustee (and the Indenture Trustee unless the Secured Indebtedness shall have been fully paid and satisfied) if the loss exceeds $500,000. The loss so adjusted shall be paid in accordance with the antipenultimate sentence of Section 7(a). Losses covered by liability insurance shall be adjusted by and paid to the Person suffering such loss. All such policies shall provide that the loss, if any, under such insurance shall be adjusted and paid as provided in this Lease.

ADJUSTMENT AND PAYMENT OF LOSSES. The loss, if any, under any casualty -------------------------------- insurance required to be carried by paragraph (a)(i) of this Section 7 shall be adjusted with the insurance companies by the Lessee, or otherwise collected, including the filing of proceedings deemed advisable by the Lessee, subject to the reasonable approval of the Owner-Owner Trustee (and the Indenture Trustee unless the Secured Indebtedness shall have been fully paid and satisfied) if the loss exceeds $500,000U.S.$2,500,000. The loss so adjusted shall be paid in accordance with the antipenultimate antepenultimate sentence of Section 7(a). Losses covered by liability insurance shall be adjusted by and paid to the Person suffering such loss. All such policies shall provide that the The loss, if any, under such insurance shall be adjusted and paid as provided in this Lease.

ADJUSTMENT AND PAYMENT OF LOSSES. The loss, if any, under any casualty insurance required to be carried by paragraph (a)(i) of this Section 7 shall be adjusted with the insurance companies by the Lessee, or otherwise collected, including the filing of proceedings deemed advisable by the Lessee, subject to the reasonable approval of the Owner-Owner Trustee (and the Indenture Trustee unless the Secured Indebtedness shall have been fully paid and satisfied) if the loss exceeds $500,000U.S.$2,500,000. The loss so adjusted shall be paid in accordance with the antipenultimate antepenultimate sentence of Section 7(a). Losses covered by liability insurance shall be adjusted by and paid to the Person suffering such loss. All such policies shall provide that the The loss, if any, under such insurance shall be adjusted and paid as provided in this Lease.