Application of Insurance. The Company will apply to the Insurer for a ------------------------- Policy with a face amount at least equal to the amount of insurance to which the Executive is entitled under the Plan. The Company may apply for additional insurance to insure payment to the Company of the Recoverable Amount. The Company and the Executive agree to take any action necessary to cause the Insurer to issue the Policy. The Policy shall be subject to the terms of this Agreement.
Application of Insurance. Proceeds As between Lessor and Lessee, and except to the extent otherwise required pursuant to the provisions of the airline finance/lease contract Endorsements AVN 67C and AVN 67C (Hull War) or any successor endorsements, if applicable:
(a) All insurance payments, up to the Agreed Value, received as the result of a Total Loss occurring during the Term shall be paid to Owner (unless or until Lessor notifies Lessee that said payments should be made to a specified Financing Party).
(b) Any payment(s) of insurance proceeds in respect of any damage or loss to the Aircraft, any Engine or any Part occurring during the Term not constituting a Total Loss in an aggregate amount greater than the Damage Notification Threshold shall be paid to Owner (unless or until Lessor notifies Lessee that said payments should be made to a specified Financing Party) and applied in payment (or to reimburse Lessee) for repairs or replacement property upon Lessor being reasonably satisfied that the repairs or replacement have been or are being effected in accordance with this Agreement. Any payment of insurance proceeds in amounts less than the Damage Notification Threshold may be paid by the insurer directly to Xxxxxx. Any balance remaining (after application of proceeds in respect of repairs or replacement) shall be paid to or may be retained by Xxxxxx.
(c) All insurance proceeds in respect of third party liability shall be paid to the relevant third party.
(d) Notwithstanding the provisions of Sections 9.7(a) and (b), if at the time of the payment of any insurance proceeds as described by Sections 9.7(a) and (b) a Default has occurred and is continuing, all such proceeds shall be paid to or retained by Owner (unless or until Lessor notifies Xxxxxx that said payments should be made to a Financing Party) to be applied toward payment of any amounts that may be or become payable by Lessee in such order as Owner and Lessor see fit. In the event that Lessee remedies any such Default to the reasonable satisfaction of Lessor, then Lessor shall procure that all such insurance proceeds then held by Owner, Lessor or any Financing Party, as the case may be, in excess of the amounts (if any) applied by Owner, Lessor or any Financing Party, as the case may be, in accordance with this Section 9.7(d) shall be paid promptly to Lessee.
Application of Insurance. PROCEEDS The Insurances will be endorsed to provide for payment of proceeds as follows:
Application of Insurance. Proceeds If No Termination 27
Application of Insurance. PROCEEDS ----------------------------------------------
Application of Insurance. PROCEEDS
Application of Insurance proceeds Whether or not an Event of Default shall have occurred or be continuing, the proceeds of any claim under any of the Insurances in respect of a Total Loss shall be paid to the Lender or as instructed by the Lender and applied in accordance with Clause 28 (Application of proceeds) or Clause 7.5 (Mandatory prepayment on sale or Total Loss), as the case may be.
Application of Insurance. Proceeds If No Termination 24 6.10 Application of Insurance Proceeds In Case of Termination 24 6.11 Standards of Replacement, Repair or Reconstruction 24 6.12 Mitigation 25 6.13 Risks Becoming Uninsurable 25 6.14 Consequences of Risks Becoming Uninsurable 25 6.15 Third Party Liability Insurance as an Uninsurable Risk 26 6.16 Subrogation 26 6.17 Continuing Attempts to Insure Uninsurable Risks 26 6.18 Uninsurable Risks Becoming Insurable 27
Application of Insurance. Proceeds If No Termination 19 6.6 Application of Insurance Proceeds In Case of Termination 19
Application of Insurance. Condemnation and Other Proceeds; Waiver of Insured Claims; Determination of Appraised Value . . . . . . . . . . 19
