Common use of Adjustment of Losses Clause in Contracts

Adjustment of Losses. Losses, if any, with respect to any Leased Property under any damage policies required to be carried under this Section 2.9 shall be adjusted with the insurance companies, including the filing of appropriate proceedings, as follows: (x) so long as no Construction Agency Event of Default shall have occurred and be continuing, and provided that the Construction Agent is required, or has agreed, to repair the damage or if the purchase option has been exercised, such losses will be adjusted by the Construction Agent, (y) if any Construction Agency Event of Default shall have occurred and be continuing or Construction Force Majeure Event declared, or if the Construction Agent is not required to, and has not agreed to, repair the damage, such losses shall be adjusted by the Lessor with the consent of the Construction Agent (which consent shall not be unreasonably withheld or delayed). The party which shall be entitled to adjust losses may appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty at such party's reasonable request, and the other party shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a Construction Land Interest.

Adjustment of Losses. Losses, if any, with respect to any Leased Property Improvements under any property damage policies required to be carried under this Section 2.9 Agreement shall be adjusted with the insurance companies, including the filing of appropriate proceedings, as follows: (x) so long as no Construction Agency Agreement Event of Default shall have occurred and be continuing, and provided that the Construction Agent is requiredrequired by the Operative Documents, or has agreed, to repair the damage or if to the purchase option has been exercisedrelevant Construction Property, such losses will shall be adjusted by the Construction AgentAgent with the consent of the Lessor, and (y) if any Construction Agency Agreement Event of Default shall have occurred and be continuing or Construction Force Majeure Event declaredcontinuing, or if the Construction Agent is not required to, and has not agreed toagreed, to repair the damagedamage to the relevant Construction Property, such losses shall be adjusted solely by the Lessor with the consent of the Construction Agent (which consent shall not be unreasonably withheld or delayed)Lessor. The party which shall be entitled to adjust losses may appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty at and shall pay all expenses thereof. At such party's reasonable request, and at the other party Construction Agent's sole cost and expense, the Construction Agent, and the Lessor, as the case may be, shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a the relevant Construction Land InterestProperty during the Construction Period with respect thereto.

Adjustment of Losses. Losses, if any, with respect to any Leased Property portion of the Improvements constituting a part of the Improvements under any damage policies required to be carried under this Section 2.9 2.7 shall be adjusted with the insurance companies, including the filing of appropriate proceedings, as follows: (x) so long as no Construction Agency Agreement Event of Default shall have occurred and be continuing, and provided that the Construction Agent is required, or has agreed, required to repair the damage or if Construction Agent has exercised its option to purchase the purchase option has been exercisedLeased Premises pursuant to Section 5.3, such losses will be adjusted by the Construction Agent, and (y) if any Construction Agency Agreement Event of Default shall have occurred and be continuing or any Construction Force Majeure Event has been declared, or if the Construction Agent is not required to, and has not agreed to, to repair the damage, and Construction Agent has not exercised its option to purchase the Leased Premises pursuant to Section 5.3, such losses shall be adjusted by the Lessor with the consent of the Construction Agent (which consent shall not be unreasonably withheld or delayed)Landlord. The party which shall be is entitled to adjust losses may shall appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty at such party's reasonable requestcasualty, and the other party shall participate may participate, at such other party’s sole cost and expense, in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advancespaid directly by Construction Agent. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty casualty affecting the Improvements constituting a part of the Improvements during the Construction Land InterestTerm.

Adjustment of Losses. Losses, if any, with respect to any Leased the Property under any property damage policies required to be carried under this Section 2.9 2.7(b) shall be adjusted with the insurance companies, including the filing of appropriate proceedings, as follows: (x) so long as no Lease Event of Default or Construction Agency Agreement Event of Default shall have occurred and be continuing, and provided that the Construction Agent Lessee is requiredrequired by the Operative Documents, or has agreed, to repair the damage or if to the purchase option has been exercisedProperty, such losses will shall be adjusted by the Construction AgentLessee, and (y) if any Lease Event of Default or Construction Agency Agreement Event of Default shall have occurred and be continuing or Construction Force Majeure Event declaredcontinuing, or if the Construction Agent Lessee is not required to, and has not agreed toagreed, to repair the damagedamage to the Property, such losses shall be adjusted by the Lessor with the consent of the Construction Agent (which consent shall not be unreasonably withheld or delayed)Lessor. The party which shall be entitled to adjust losses may appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty at and shall pay all expenses thereof. At such party's reasonable request, and at the other party Construction Agent's sole cost and expense, the Lessee, the Lessor and each Lender, as the case may be, shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Construction Agency Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a Construction Land Interestthe Property during the Interim Term.

Adjustment of Losses. Losses, if any, with respect to any Leased Property under any damage policies required to be carried under this Section 2.9 shall be adjusted with the insurance companies, including the filing of appropriate proceedings, as follows: (x) so long as no Construction Agency Event of Default shall have occurred and be continuing, and provided that the Construction Agent is required, or has agreed, to repair the damage or if the purchase option has been exercised, such losses will be adjusted by the Construction Agent, (y) if any Construction Agency Event of Default shall have occurred and be continuing or Construction Force Majeure Event declared, or if the Construction Agent is not required to, and has not agreed to, repair the damage, such losses shall be adjusted by the Lessor with the consent of the Construction Agent (which consent shall not be unreasonably withheld or delayed). The party which shall be entitled to adjust losses may appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty at such party's ’s reasonable request, and the other party shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a Construction Land Interest.

Adjustment of Losses. Losses, if any, with respect to any Leased Property under any damage policies required to be carried under this Section 2.9 shall be adjusted with the insurance companies, including the filing of appropriate proceedings, as follows: (x) so long as no Construction Agency Event of Default shall have occurred and be continuing, and provided that the Construction Agent is required, or has agreed, to repair the damage or if the purchase option has been exercised, such losses will be adjusted by the Construction Agent, (y) if any Construction Agency Event of Default shall have occurred and be continuing or a Construction Force Majeure Event declared, or if the Construction Agent is not required to, and has not agreed to, repair the damage, such losses shall be adjusted by the Lessor with the consent of the Construction Agent (which consent shall not be unreasonably withheld or delayed). The party which shall be entitled to adjust losses may appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty at such party's ’s reasonable request, and the other party shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a Construction Land Interest.