Assignment of Unearned Premiums Sample Clauses

Assignment of Unearned Premiums. The Lessee hereby assigns to the Lessor all rights of the Lessee in and to any unearned premiums allocable to the Leased Property on any insurance policy required hereunder to be furnished by the Lessee which may become payable or are refundable after the occurrence of an Event of Default hereunder. In the event that this Lease is terminated for any reason (other than the purchase of the Leased Property by the Lessee), the insurance policies required to be maintained hereunder, including all right, title and interest of the Lessee thereunder, shall become the absolute property of the Lessor.
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Assignment of Unearned Premiums. Lessee hereby assigns to Lessor all rights of Lessee in and to any unearned premiums on any insurance policy required hereunder to be furnished by Lessee which may become payable or are refundable after the occurrence of an Event of Default hereunder, which premium, upon receipt thereof, Lessor shall at Lessor's option apply toward the Lease Obligations or hold as security therefor. In the event that this Lease is terminated for any reason (other than the purchase of the Leased Property by Lessee), the insurance policies required to be maintained hereunder, including all right, title and interest of Lessee thereunder, shall become the absolute property of Lessor subject to any limitation on assignment provided for therein.
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Assignment of Unearned Premiums. The Lessee hereby assigns to the Lessor all rights of the Lessee in and to any unearned premiums on any insurance policy required hereunder to be furnished by the Lessee which may become payable or are refundable after the occurrence of an Event of Default hereunder. In the event that this Lease is terminated for any reason (other than the purchase of the Leased Property by the Lessee), the insurance policies required to be maintained hereunder, including all right, title and interest of the Lessee thereunder, shall become the absolute property of the Lessor. In the event that this Lease is terminated for any reason (other than the purchase of the Leased Property by the Lessee), the insurance policies required to be maintained hereunder, excluding Workers' Compensation and Employers Liability Insurance, shall continue to be maintained for a period of fifteen (15) days following such termination; provided, however, that the Lessee shall not be obligated to maintain commercial general liability and professional liability insurance for such fifteen (15) day period to the extent that any such insurance is unavailable from the then current insurer as a result of any such termination. The provisions of this Section 12.1.10 shall survive any termination of this Lease.
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Assignment of Unearned Premiums. Lessee hereby assigns to Lessor all rights of Lessee in and to any unearned premiums allocable to the Leased Property on any insurance policy required hereunder to be furnished by Lessee which may become payable or are refundable after the occurrence of a Lease Default hereunder. In the event that this Lease is terminated or any reason (other than the purchase of the Leased Property by Lessee), the insurance policies required to be maintained pursuant to subsections 12.1.1(a), (b), (c), (d) and (e) hereunder with respect to the Leased Property or any portion of such insurance policies relating to Leased Premises, including all right, title and interest of Lessee thereunder, shall become the absolute property of Lessor.
Sample 1
Assignment of Unearned Premiums. The Borrower hereby assigns to the Lender all rights of the Borrower in and to any unearned premiums on any insurance policy required hereunder to be furnished by the Borrower which may become payable or are refundable after the occurrence of an Event of Default hereunder. In the event of a foreclosure of the Mortgaged Property or a conveyance of the Mortgaged Property in connection with a deed-in-lieu of foreclosure transaction, the insurance policies required to be maintained hereunder, including all right, title and interest of the Borrower thereunder, shall become the absolute property of the Lender subject to any limitation on assignment provided for therein.
Sample 1
Assignment of Unearned Premiums. The Borrower hereby assigns to the Lender all rights of the Borrower in and to any unearned premiums on any insurance policy required hereunder to be furnished by the Borrower which may become payable or are refundable after the occurrence of an Event of Default hereunder, which amounts may be utilized by the Lender for any purposes allowed hereunder or credited against the Loan Obligations. In the event of a foreclosure of the Mortgaged Property or a conveyance of the Mortgaged Property in connection with a deed-in-lieu of foreclosure transaction, the insurance policies required to be maintained hereunder, including all right, title and interest of the Borrower thereunder, shall become the absolute property of the Lender.
Sample 1
Assignment of Unearned Premiums. In the event that this Lease is terminated for any reason (other than the purchase of the Leased Property by the Lessee), the insurance policies required to be maintained hereunder, excluding workers compensation and employers liability insurance, shall continue to be maintained for a period of thirty (30) days following such termination; provided, however, that the Lessee shall not be obligated to maintain commercial general liability and professional liability insurance for such thirty (30) day period to the extent that any such insurance cannot be -68- 80 maintained with the then current insurer as a result of any such termination. The provisions of this Section 12.1.10 shall survive any termination of this Lease.
Sample 1
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Related to Assignment of Unearned Premiums

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

  • Premium Recapture With respect to any Mortgage Loan without Prepayment Penalties that prepays in full during the first 90 days following the related Closing Date, and with respect to any Mortgage Loan that is repurchased pursuant to Subsection 9.04, the Seller shall pay the Purchaser, within 30 calendar days after giving notice of such prepayment in full or repurchase, an amount equal to the excess of the Purchase Price Percentage for such Mortgage Loan over par, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date.

  • Payment of Premium Increases (a) As used herein, the term "

  • Payment of Earnings The Borrower undertakes with each Creditor Party to ensure that throughout the Security Period (subject only to provisions of the relevant General Assignment), all the Earnings of each Ship are paid to the Earnings Account for that Ship.

  • Lease Termination Except as provided in this Section 9.04, upon expiration or earlier termination of this Lease Tenant shall surrender the Premises to Landlord in the same condition as existed on the date Tenant first occupied the Premises, (whether pursuant to this Lease or an earlier lease), subject to reasonable wear and tear. All Alterations shall become a part of the Premises and shall become the property of Landlord upon the expiration or earlier termination of this Lease, unless Landlord shall, by written notice given to Tenant, require Tenant to remove some or all of Tenant's Alterations, in which event Tenant shall promptly remove the designated Alterations and shall promptly repair any resulting damage, all at Tenant's sole expense. All business and trade fixtures, machinery and equipment, furniture, movable partitions and items of personal property owned by Tenant or installed by Tenant at its expense in the Premises shall be and remain the property of Tenant; upon the expiration or earlier termination of this Lease, Tenant shall, at its sole expense, remove all such items and repair any damage to the Premises or the Building caused by such removal. If Tenant fails to remove any such items or repair such damage promptly after the expiration or earlier termination of the Lease, Landlord may, but need not, do so with no liability to Tenant, and Tenant shall pay Landlord the cost thereof upon demand. Notwithstanding the foregoing to the contrary, in the event that Landlord gives its consent, pursuant to the provisions of Section 9.01 of this Lease, to allow Tenant to make an Alteration in the Premises, Landlord agrees, upon Tenant's written request, to notify Tenant in writing at the time of the giving of such consent whether Landlord will require Tenant, at Tenant's cost, to remove such Alteration at the end of the Lease Term.

  • Payment of Salary Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive.

  • Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.

  • Interest Subsidy and Special Allowance Payments and Rebate Fees The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

  • Release Prior to Payment of Benefits Upon the occurrence of a Change in Control Termination or a Covered Termination, as applicable, and prior to Executive earning any entitlement to any severance or separation benefits under this Agreement on account of such Change in Control Termination or Covered Termination, as applicable, Executive must execute the appropriate Release, and such Release must become effective in accordance with its terms, but in no event later than the Release Deadline Date. No amount shall be paid prior to such date. Instead, on the first regularly-scheduled payroll date occurring on or after the Release Deadline Date, the Company will pay Executive the severance amount that Executive would otherwise have received on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the balance of the severance amount being paid as originally scheduled. The Company may modify the Release in its discretion to comply with changes in applicable law at any time prior to Executive’s execution of such Release. Such Release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s obligations under the Confidentiality Agreement and any similar obligations under applicable law. It is understood that, as specified in the applicable Release, Executive has a certain number of calendar days to consider whether to execute such Release. If Executive does not execute and deliver such Release within the applicable period, no benefits shall be provided or payable under this Agreement, and Executive shall have no further rights, title or interests in or to any severance benefits or payments pursuant to this Agreement. It is further understood that if Executive is age 40 or older at the time of a Change in Control Termination or a Covered Termination, as applicable, Executive may revoke the applicable Release within seven (7) calendar days after its execution by Executive. If Executive revokes such Release within such subsequent seven (7) day period, no benefits shall be provided or payable under this Agreement pursuant to such Change in Control Termination or Covered Termination, as applicable.

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