Application of Insurance Proceeds for Loss or Taking. As between the Lessor and the Lessee it is agreed that any insurance payments received as the result of the occurrence of (i) any event of loss described in paragraph (c) of Section 15 hereof with respect to any Parcel of Property or Unit of Equipment, or (ii) any event of Taking described in Section 16 hereof shall be paid to an account of the Lessor and disposed of, as set forth in paragraph (c) of Section 15 hereof.
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Samples: Lease Agreement (Potash Corporation of Saskatchewan Inc), Lease Agreement (Arcadian Corp), Lease Agreement (Seaboard Corp /De/)
Application of Insurance Proceeds for Loss or Taking. As between the Lessor and the Lessee it is agreed that any insurance payments received as the result of the occurrence of (i) any event of loss described in paragraph (c) of Section 15 hereof with respect to the Facility or any other Parcel of Property or Unit of Equipment, or (ii) any event of Taking described in paragraph (a) of Section 16 hereof hereof, shall be paid to an account of the Lessor established in connection with the Facility or such Parcel or Unit, as the case may be, and disposed of, of as set forth in paragraph (c) of Section 15 hereof.
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Samples: Lease Agreement (Keyspan Corp)
Application of Insurance Proceeds for Loss or Taking. As between the Lessor and the Lessee it is agreed that any insurance payments received as the result of the occurrence of (i) any event of loss described in paragraph (c) of Section SECTION 15 hereof with respect to any Parcel of Property or Unit of EquipmentProperty, or (ii) any event of Taking described in Section SECTION 16 hereof shall be paid to an account of the Lessor and disposed of, as set forth in paragraph (c) of Section SECTION 15 hereof.
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Application of Insurance Proceeds for Loss or Taking. As between the Lessor and the Lessee it is agreed that any insurance payments received as the result of the occurrence of (i) any event of loss described in paragraph (c) of Section 15 hereof with respect to any Parcel of Property or Unit of Equipment, or (ii) any event of Taking described in Section 16 hereof shall be paid to an account of the Lessor and disposed ofpaid out, as set forth in paragraph (c) of Section 15 hereof.
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