Common use of Award and Insurance Benefits Clause in Contracts

Award and Insurance Benefits. Borrower shall cooperate with Administrative Agent in obtaining for the benefit of Lenders, in accordance with the relevant provisions of this Agreement, the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with any Individual Property, and Administrative Agent shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys’ fees and disbursements, and the payment by Borrower of the reasonable expense of an appraisal on behalf of Administrative Agent in case of Casualty or Condemnation affecting any Individual Property or any part thereof) out of such Insurance Proceeds.

Appears in 2 contracts

Samples: Loan Agreement (Excel Trust, L.P.), Loan Agreement (Excel Trust, L.P.)

AutoNDA by SimpleDocs

Award and Insurance Benefits. Borrower Borrowers shall cooperate with Administrative Agent in obtaining for the benefit of Lenders, in accordance with the relevant provisions of this Agreement, Lenders the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with any Individual Collateral Property, and Administrative Agent shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys’ fees and disbursements, and the payment by Borrower Borrowers of the reasonable expense of an appraisal Acceptable Appraisal on behalf of Administrative Agent Lenders in case of Casualty or Condemnation affecting any Individual Collateral Property or any part thereof) out of such Award or Insurance Proceeds.

Appears in 2 contracts

Samples: Credit Agreement (FelCor Lodging Trust Inc), Term Loan Agreement (FelCor Lodging Trust Inc)

Award and Insurance Benefits. Borrower Borrowers shall cooperate with Administrative Agent in obtaining for the benefit of Lenders, in accordance with the relevant provisions of this Agreement, Lenders the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with any Individual Collateral Property, and Administrative Agent shall be reimbursed for any reasonable out-of-pocket expenses incurred in connection therewith (including reasonable attorneys’ fees and disbursements, and the payment by Borrower Borrowers of the reasonable expense of an appraisal Acceptable Appraisal on behalf of Administrative Agent Lenders in case of Casualty or Condemnation affecting any Individual Collateral Property or any part thereof) out of such Award or Insurance Proceeds.

Appears in 1 contract

Samples: Credit Agreement (FelCor Lodging LP)

Award and Insurance Benefits. Borrower Borrowers shall cooperate with Administrative Agent in obtaining for the benefit of Lenders, in accordance with the relevant provisions of this Agreement, Lenders the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with any Individual Collateral Property, and Administrative Agent shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys' fees and disbursements, and the payment by Borrower Borrowers of the reasonable expense of an appraisal Acceptable Appraisal on behalf of Administrative Agent Lenders in case of Casualty or Condemnation affecting any Individual Collateral Property or any part thereof) out of such Award or Insurance Proceeds.

Appears in 1 contract

Samples: Revolving Credit Agreement (FelCor Lodging Trust Inc)

Award and Insurance Benefits. Borrower shall cooperate with the Administrative Agent in obtaining for the benefit of LendersAgent, in accordance with the relevant provisions of this Agreement, to enable the Administrative Agent and the Lenders to receive the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with any Individual Property, and the Administrative Agent shall be reimbursed for any expenses reasonably incurred in connection therewith (including reasonable attorneys’ fees and disbursements, and the payment by Borrower the Loan Parties of the reasonable expense of an appraisal on behalf of the 100 Administrative Agent in case of Casualty or Condemnation affecting any Individual Property or any part thereof) out of such Insurance Proceeds.

Appears in 1 contract

Samples: Loan Agreement (Front Yard Residential Corp)

AutoNDA by SimpleDocs

Award and Insurance Benefits. Borrower Borrowers shall cooperate with Administrative Agent in obtaining for the benefit of Lenders, in accordance with the relevant provisions of this Agreement, Lenders the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with any Individual Collateral Property, and Administrative Agent shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys' fees and disbursements, and the payment by Borrower Borrowers of the reasonable expense of an appraisal Acceptable Appraisal on behalf of Administrative Agent the Lenders in case of Casualty or Condemnation affecting any Individual Collateral Property or any part thereof) out of such Award or Insurance Proceeds.

Appears in 1 contract

Samples: Revolving Credit Agreement (FelCor Lodging LP)

Award and Insurance Benefits. Borrower Borrowers shall cooperate with Administrative Agent in obtaining for the benefit of Lenders, in accordance with the relevant provisions of this Agreement, Lenders the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with any Individual Collateral Property, and Administrative Agent shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys’ fees and disbursements, and the payment by Borrower Borrowers of the reasonable expense of an appraisal Acceptable Appraisal on behalf of Administrative Agent the Lenders in case of Casualty or Condemnation affecting any Individual Collateral Property or any part thereof) out of such Award or Insurance Proceeds.

Appears in 1 contract

Samples: Lease Agreement (FelCor Lodging Trust Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.