Adjustment of Loss. Mortgagor hereby authorizes Mortgagee, at Mortgagee's option, to adjust and compromise any losses under any insurance afforded, but unless Mortgagee elects to adjust the losses as aforesaid, said adjustment and/or compromise shall be made by Mortgagor, subject to final approval of Mortgagee in the case of losses exceeding $100,000.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Ios Brands Corp), Ios Brands Corp
Adjustment of Loss. Mortgagor hereby authorizes Mortgagee, at Mortgagee's ’s option, to adjust and compromise any losses under any insurance afforded, but unless Mortgagee elects to adjust the losses as aforesaid, said adjustment and/or compromise shall be made by Mortgagor, subject to final approval of Mortgagee in the case of losses exceeding $100,00010,000.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Cti Industries Corp), X Rite Inc
Adjustment of Loss. Mortgagor hereby authorizes Mortgagee, at Mortgagee's option, to adjust and compromise any losses under any insurance afforded, but unless Mortgagee elects to adjust the losses as aforesaid, said adjustment and/or compromise shall be made by Mortgagor, subject to final approval of Mortgagee in the case of losses exceeding $100,00025,000.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Global Technovations Inc)
